Holding Company Condensed Financial Information

12 Months Ended

Jun. 30, 2012

Holding Company Condensed Financial Information:

Holding Company Condensed Financial Information

18.    Holding Company Condensed Financial Information:

This information should be read in conjunction with the other notes to the consolidated financial statements. The following is the condensed statements of financial condition for Provident Financial Holdings (Holding Company only) as of June 30, 2012 and 2011 and condensed statements of operations and cash flows for the years ended June 30, 2012, 2011 and 2010.

Condensed Statements of Financial Condition

		June 30,
(In Thousands)		2012	2011
Assets
	Cash and cash equivalents	$     1,968	$     2,643
	Investment in subsidiary	142,758	138,279
	Other assets	89	40
		$ 144,815	$ 140,962
Liabilities and Stockholders’ Equity
	Other liabilities	$          38	$          44
	Stockholders’ equity	144,777	140,918
		$ 144,815	$ 140,962

Condensed Statements of Operations

			Year Ended June 30,
(In Thousands)			2012		2011		2010
Interest and other income			$        13		$        29		$      74
General and administrative expenses			750		799		684
	Loss before equity in net earnings of the subsidiary		(737	)	(770	)	(610	)
Equity in net earnings of the subsidiary			11,237		13,666		1,469
	Income before income taxes		10,500		12,896		859
	Benefit from income taxes		(310	)	(324	)	(256	)
		Net income	$ 10,810		$ 13,220		$ 1,115

Condensed Statements of Comprehensive Income

	Year Ended June 30,
	2012	2011	2010
Net income	$ 10,810	$ 13,220	$ 1,115
Other comprehensive income	-	-	-
Total comprehensive income	$ 10,810	$ 13,220	$ 1,115

Condensed Statements of Cash Flows

			Year Ended June 30,
(In Thousands)			2012		2011		2010
Cash flows from operating activities:
	Net income		$ 10,810		$ 13,220		$ 1,115
	Adjustments to reconcile net income to net cash
	used for operating activities:
	Equity in net earnings of the subsidiary		(11,237	)	(13,666	)	(1,469	)
	(Increase) decrease in other assets		(49	)	311		403
	(Decrease) increase  in other liabilities		(6	)	7		(81	)
		Net cash used for operating activities	(482	)	(128	)	(32	)
Cash flow from investing activities:
	Cash dividend received from the Bank		8,000		-		-
	Capital contribution to the Bank		-		-		(12,000	)
		Net cash (provided by) used for investing activities	8,000		-		(12,000	)
Cash flow from financing activities:
	ESOP loan payment		-		2		4
	Exercise of stock options		72		-		-
	Treasury stock purchases		(6,693	)	-		-
	Cash dividends		(1,572	)	(456	)	(352	)
	Proceeds from issuance of common stock		-		-		11,933
		Net cash (used for) provided by financing activities	(8,193	)	(454	)	11,585
Net decrease in cash and cash equivalents			(675	)	(582	)	(447	)
Cash and cash equivalents at beginning of year			2,643		3,225		3,672
Cash and cash equivalents at end of fiscal year			$    1,968		$    2,643		$   3,225