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Provident Financial Holdings, Inc. Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Dec. 31, 2017
Dec. 31, 2016
Dec. 31, 2017
Dec. 31, 2016
Interest income:        
Loans receivable, net $ 9,735 $ 10,116 $ 19,892 $ 20,596
Investment securities 319 128 576 212
FHLB – San Francisco stock 143 458 284 643
Interest-earning deposits 168 101 358 156
Total interest income 10,365 10,803 21,110 21,607
Interest expense:        
Checking and money market deposits 112 105 215 203
Savings deposits 149 146 298 290
Time deposits 625 731 1,264 1,503
Borrowings 728 736 1,464 1,438
Total interest expense 1,614 1,718 3,241 3,434
Net interest income 8,751 9,085 17,869 18,173
(Recovery) provision for loan losses (11) (350) 158 (500)
Net interest income, after (recovery) provision for loan losses 8,762 9,435 17,711 18,673
Non-interest income:        
Loan servicing and other fees 317 [1] 310 [2] 680 [3] 577 [4]
Gain on sale of loans, net 4,317 [5] 6,478 [5] 9,164 [6] 14,474 [7]
Deposit account fees 536 552 1,094 1,102
Loss on sale and operations of real estate owned acquired in the settlement of loans, net (22) (63) (62) (166)
Card and processing fees 373 361 754 725
Other 220 194 463 372
Total non-interest income 5,741 7,832 12,093 17,084
Non-interest expense:        
Salaries and employee benefits 8,633 10,349 17,902 21,663
Premises and occupancy 1,260 1,235 2,574 2,524
Equipment 375 340 737 702
Professional expenses 521 630 1,041 1,135
Sales and marketing expenses 301 253 504 549
Deposit insurance premiums and regulatory assessments 218 177 402 425
Other(1) 1,905 [8] 1,684 [8] 5,787 3,302
Total non-interest expense 13,213 14,668 28,947 30,300
Income before income taxes 1,290 2,599 857 5,457
Provision for income taxes 1,800   1,800  
Net (loss) income (777) 1,504 (1,002) 3,098
Provision for income taxes $ 2,067 $ 1,095 $ 1,859 $ 2,359
Basic earnings per share $ (0.10) $ 0.19 $ (0.13) $ 0.39
Diluted earnings per share (0.10) 0.18 (0.13) 0.38
Cash dividends per share $ 0.14 $ 0.13 $ 0.28 $ 0.26
Litigation Settlement, Expense $ 650   $ 3,400  
[1] Includes an inter-company charge of $99 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 $128 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment.
[3] For the Six Months Ended December 31, 2016(In Thousands)ProvidentBankProvidentBankMortgageConsolidatedTotalsNet interest income$15,396$2,777$18,173Recovery from the allowance for loan losses(310)(190)(500)Net interest income, after recovery from the allowance for loan losses15,7062,96718,673 Non-interest income: Loan servicing and other fees (1)319258577 Gain on sale of loans, net (2)3814,43614,474Deposit account fees1,102—1,102 Loss on sale and operations of real estate owned acquired in the settlement of loans, net(163)(3)(166)Card and processing fees725—725Other372—372Total non-interest income2,39314,69117,084 Non-interest expense: Salaries and employee benefits9,53612,12721,663Premises and occupancy1,6488762,524Operating and administrative expenses2,2993,8146,113Total non-interest expense13,48316,81730,300Income before income taxes4,6168415,457Provision for income taxes2,0053542,359Net income$2,611$487$3,098Total assets, end of period$1,035,158$156,997$1,192,155
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[5] Includes an inter-company charge of $79 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.
[6] For the Six Months Ended December 31, 2016(In Thousands)ProvidentBankProvidentBankMortgageConsolidatedTotalsNet interest income$15,396$2,777$18,173Recovery from the allowance for loan losses(310)(190)(500)Net interest income, after recovery from the allowance for loan losses15,7062,96718,673 Non-interest income: Loan servicing and other fees (1)319258577 Gain on sale of loans, net (2)3814,43614,474Deposit account fees1,102—1,102 Loss on sale and operations of real estate owned acquired in the settlement of loans, net(163)(3)(166)Card and processing fees725—725Other372—372Total non-interest income2,39314,69117,084 Non-interest expense: Salaries and employee benefits9,53612,12721,663Premises and occupancy1,6488762,524Operating and administrative expenses2,2993,8146,113Total non-interest expense13,48316,81730,300Income before income taxes4,6168415,457Provision for income taxes2,0053542,359Net income$2,611$487$3,098Total assets, end of period$1,035,158$156,997$1,192,155
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[8] Includes $650,000 of litigation expense accrual related to "McKeen-Chaplin" and "Neal" matters for the quarter ended December 31, 2017 and $3.4 million of litigation expense accruals related to "McKeen-Chaplin," "Neal" and "Cannon" matters for the six months ended December 31, 2017