Operating Segment Reports (Tables)

3 Months Ended

Sep. 30, 2013

Schedule of Segment Reporting Information, by Segment

The following tables set forth condensed consolidated statements of operations and total assets for the Corporation’s operating segments for the quarters ended September 30, 2013 and 2012, respectively.



	For the Quarter Ended September 30, 2013
(In Thousands)	Provident Bank			Provident Bank Mortgage			Consolidated Totals
Net interest income	$	6,567		$	1,394		$	7,961
(Recovery) provision for loan losses	(983		)	41			(942		)
Net interest income, after (recovery) provision for loan losses	7,550			1,353			8,903

Non-interest income:
Loan servicing and other fees ⁽¹⁾	134			61			195
Gain on sale of loans, net ⁽²⁾	237			6,517			6,754
Deposit account fees	621			—			621
Gain on sale and operations of real estate owned acquired in the settlement of loans, net	51			1			52
Card and processing fees	344			—			344
Other	217			—			217
Total non-interest income	1,604			6,579			8,183

Non-interest expense:
Salaries and employee benefits	3,955			6,497			10,452
Premises and occupancy	683			476			1,159
Operating and administrative expenses	1,014			1,905			2,919
Total non-interest expense	5,652			8,878			14,530
Income (loss) before income taxes	3,502			(946		)	2,556
Provision (benefit) for income taxes	1,441			(398		)	1,043
Net income (loss)	$	2,061		$	(548	)	$	1,513
Total assets, end of period	$	973,862		$	179,165		$	1,153,027


⁽¹⁾	Includes an inter-company charge of $8 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment.


⁽²⁾	Includes an inter-company charge of $7 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.



	For the Quarter Ended September 30, 2012
(In Thousands)	Provident Bank			Provident Bank Mortgage			Consolidated Totals
Net interest income	$	7,333		$	1,603		$	8,936
Provision (recovery) for loan losses	855			(322		)	533
Net interest income after provision (recovery) for loan losses	6,478			1,925			8,403

Non-interest income:
Loan servicing and other fees ⁽¹⁾	303			35			338
Gain on sale of loans, net ⁽²⁾	29			20,566			20,595
Deposit account fees	623			—			623
Gain (loss) on sale and operations of real estate owned acquired in the settlement of loans, net	74			(1		)	73
Card and processing fees	321			—			321
Other	209			—			209
Total non-interest income	1,559			20,600			22,159

Non-interest expense:
Salaries and employee benefits	4,757			8,428			13,185
Premises and occupancy	740			410			1,150
Operating and administrative expenses	1,171			1,820			2,991
Total non-interest expense	6,668			10,658			17,326
Income before income taxes	1,369			11,867			13,236
(Benefit) provision for income taxes	(484		)	4,990			4,506
Net income	$	1,853		$	6,877		$	8,730
Total assets, end of period	$	975,121		$	296,363		$	1,271,484


⁽¹⁾	Includes an inter-company charge of $16 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment.


⁽²⁾	Includes an inter-company charge of $41 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.

- Definition

Tabular disclosure of the profit or loss and total assets for each reportable segment. An entity discloses certain information on each reportable segment if the amounts (a) are included in the measure of segment profit or loss reviewed by the chief operating decision maker or (b) are otherwise regularly provided to the chief operating decision maker, even if not included in that measure of segment profit or loss.

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