Operating Segment Reports (Tables)

3 Months Ended

Sep. 30, 2017

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, 2017 and 2016, respectively.



	For the Quarter Ended September 30, 2017
(In Thousands)	Provident Bank			Provident Bank Mortgage			Consolidated Totals
Net interest income	$	8,550		$	568		$	9,118
Provision for loan losses	169			—			169
Net interest income, after provision for loan losses	8,381			568			8,949

Non-interest income:
Loan servicing and other fees ⁽¹⁾	47			316			363
Gain on sale of loans, net ⁽²⁾	—			4,847			4,847
Deposit account fees	558			—			558
Loss on sale and operations of real estate owned acquired in the settlement of loans, net	(40		)	—			(40		)
Card and processing fees	381			—			381
Other	243			—			243
Total non-interest income	1,189			5,163			6,352

Non-interest expense:
Salaries and employee benefits	4,502			4,767			9,269
Premises and occupancy	827			487			1,314
Operating and administrative expenses	2,251			2,900			5,151
Total non-interest expense	7,580			8,154			15,734
Income (loss) before income taxes	1,990			(2,423		)	(433		)
Provision (benefit) for income taxes	811			(1,019		)	(208		)
Net income (loss)	$	1,179		$	(1,404	)	$	(225	)
Total assets, end of period	$	1,066,294		$	127,492		$	1,193,786


⁽¹⁾	Includes an inter-company charge of $240 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 $59 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, 2016
(In Thousands)	Provident Bank			Provident Bank Mortgage			Consolidated Totals
Net interest income	$	7,575		$	1,513		$	9,088
Provision (recovery) for loan losses	36			(186		)	(150		)
Net interest income after provision (recovery) for loan losses	7,539			1,699			9,238

Non-interest income:
Loan servicing and other fees ⁽¹⁾	69			198			267
Gain on sale of loans, net ⁽²⁾	1			7,995			7,996
Deposit account fees	550			—			550
Loss (gain) on sale and operations of real estate owned acquired in the settlement of loans, net	(105		)	2			(103		)
Card and processing fees	364			—			364
Other	178			—			178
Total non-interest income	1,057			8,195			9,252

Non-interest expense:
Salaries and employee benefits	4,894			6,420			11,314
Premises and occupancy	856			433			1,289
Operating and administrative expenses	1,147			1,882			3,029
Total non-interest expense	6,897			8,735			15,632
Income before income taxes	1,699			1,159			2,858
Provision for income taxes	777			487			1,264
Net income	$	922		$	672		$	1,594
Total assets, end of period	$	977,964		$	264,550		$	1,242,514


⁽¹⁾	Includes an inter-company charge of $95 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 $59 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.