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Holding Company Condensed Financial Information Holding Company Condensed Financial Information
 12 Months Ended
Jun. 30, 2017
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, 2017 and 2016 and condensed statements of operations, comprehensive income and cash flows for the fiscal years ended June 30, 2017, 2016 and 2015.

Condensed Statements of Financial Condition
 
June 30,
(In Thousands)
2017
2016
 
 
 
Assets
 
 
Cash and cash equivalents
$
10,338

$
12,835

Investment in subsidiary
117,803

120,563

Other assets
141

105

 
$
128,282

$
133,503

 
 
 
Liabilities and Stockholders’ Equity
 
 
Other liabilities
$
52

$
52

Stockholders’ equity
128,230

133,451

 
$
128,282

$
133,503




Condensed Statements of Operations
 
Year Ended June 30,
(In Thousands)
2017
2016
2015
 
 
 
 
Dividend from the Bank
$
10,000

$
15,000

$
25,000

Interest and other income
36

52

57

Total income
10,036

15,052

25,057

 
 
 
 
General and administrative expenses
1,019

808

860

Earnings before income taxes and equity in undistributed earnings of the Bank
9,017

14,244

24,197

 
 
 
 
Income tax benefit
(413
)
(317
)
(337
)
Earnings before equity in undistributed earnings of the Bank
9,430

14,561

24,534

 
 
 
 
Equity in undistributed earnings of the Bank
(4,223
)
(7,087
)
(14,731
)
Net income
$
5,207

$
7,474

$
9,803



Condensed Statements of Comprehensive Income
 
Year Ended June 30,
(In Thousands)
2017
2016
2015
 
 
 
 
Net income
$
5,207

$
7,474

$
9,803

 
 
 
 
Other comprehensive income
—

—

—

 
 
 
 
Total comprehensive income
$
5,207

$
7,474

$
9,803




Condensed Statements of Cash Flows
 
Year Ended June 30,
(In Thousands)
2017
2016
2015
 
 
 
 
Cash flows from operating activities:
 
 
 
Net income
$
5,207

$
7,474

$
9,803

Adjustments to reconcile net income to net cash
provided by operating activities:
 
 
 
Equity in undistributed earnings of the Bank
4,223

7,087

14,731

Increase in other assets
(36
)
(85
)
(1
)
(Decrease) increase in other liabilities
—

(8
)
24

Net cash provided by operating activities
9,394

14,468

24,557

 
 
 
 
Cash flow from financing activities:
 
 
 
Exercise of stock options
942

590

380

Treasury stock purchases
(8,714
)
(13,038
)
(12,680
)
Cash dividends
(4,119
)
(4,014
)
(4,055
)
Net cash used for financing activities
(11,891
)
(16,462
)
(16,355
)
Net (decrease) increase in cash and cash equivalents
(2,497
)
(1,994
)
8,202

Cash and cash equivalents at beginning of year
12,835

14,829

6,627

Cash and cash equivalents at end of year
$
10,338

$
12,835

$
14,829