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Holding Company Condensed Financial Information Holding Company Condensed Financial Information
 12 Months Ended
Jun. 30, 2014
Condensed Financial Information of Parent Company Only Disclosure [Abstract]  
Holding Company Condensed Financial Information
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, 2014 and 2013 and condensed statements of operations, comprehensive income and cash flows for the years ended June 30, 2014, 2013 and 2012.

Condensed Statements of Financial Condition
 
June 30,
(In Thousands)
2014
2013
 
 
 
Assets
 
 
Cash and cash equivalents
$
6,627

$
532

Investment in subsidiary
139,252

159,622

Other assets
19

59

 
$
145,898

$
160,213

 
 
 
Liabilities and Stockholders’ Equity
 
 
Other liabilities
$
36

$
239

Stockholders’ equity
145,862

159,974

 
$
145,898

$
160,213




Condensed Statements of Operations
 
Year Ended June 30,
(In Thousands)
2014
2013
2012
 
 
 
 
Interest and other income
$
20

$
9

$
13

General and administrative expenses
838

791

750

Loss before equity in net earnings of the subsidiary
(818
)
(782
)
(737
)
Equity in net earnings of the subsidiary
7,087

26,250

11,237

Income before income tax benefit
6,269

25,468

10,500

Income tax benefit
(337
)
(329
)
(310
)
Net income
$
6,606

$
25,797

$
10,810



Condensed Statements of Comprehensive Income
 
Year Ended June 30,
(In Thousands)
2014
2013
2012
 
 
 
 
Net income
$
6,606

$
25,797

$
10,810

 
 
 
 
Other comprehensive income
—

—

—

 
 
 
 
Total comprehensive income
$
6,606

$
25,797

$
10,810




Condensed Statements of Cash Flows
 
Year Ended June 30,
(In Thousands)
2014
2013
2012
 
 
 
 
Cash flows from operating activities:
 
 
 
Net income
$
6,606

$
25,797

$
10,810

Adjustments to reconcile net income to net cash
used for operating activities:
 
 
 
Equity in net earnings of the subsidiary
(7,087
)
(26,250
)
(11,237
)
Decrease (increase) in other assets
40

20

(49
)
(Decrease) increase  in other liabilities
(203
)
201

(6
)
Net cash used for operating activities
(644
)
(232
)
(482
)
 
 
 
 
Cash flow from investing activities:
 
 
 
Cash dividend received from the Bank
27,500

10,000

8,000

Net cash provided by investing activities
27,500

10,000

8,000

 
 
 
 
Cash flow from financing activities:
 
 
 
Exercise of stock options
385

296

72

Treasury stock purchases
(17,182
)
(8,959
)
(6,693
)
Cash dividends
(3,964
)
(2,541
)
(1,572
)
Net cash used for financing activities
(20,761
)
(11,204
)
(8,193
)
Net increase (decrease) in cash and cash equivalents
6,095

(1,436
)
(675
)
Cash and cash equivalents at beginning of year
532

1,968

2,643

Cash and cash equivalents at end of year
$
6,627

$
532

$
1,968