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Holding Company Condensed Financial Information Holding Company Condensed Financial Information
 12 Months Ended
Jun. 30, 2018
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, 2018 and 2017 and condensed statements of operations, comprehensive income and cash flows for the fiscal years ended June 30, 2018, 2017 and 2016.

Condensed Statements of Financial Condition
 
June 30,
(In Thousands)
2018
2017
 
 
 
Assets
 
 
Cash and cash equivalents
$
3,789

$
10,338

Investment in subsidiary
116,608

117,803

Other assets
123

141

 
$
120,520

$
128,282

 
 
 
Liabilities and Stockholders’ Equity
 
 
Other liabilities
$
63

$
52

Stockholders’ equity
120,457

128,230

 
$
120,520

$
128,282




Condensed Statements of Operations
 
Year Ended June 30,
(In Thousands)
2018
2017
2016
 
 
 
 
Dividend from the Bank
$
5,000

$
10,000

$
15,000

Interest and other income
19

36

52

Total income
5,019

10,036

15,052

 
 
 
 
General and administrative expenses
1,077

1,019

808

Earnings before income taxes and equity in undistributed earnings of the Bank
3,942

9,017

14,244

 
 
 
 
Income tax benefit
(379
)
(413
)
(317
)
Earnings before equity in undistributed earnings of the Bank
4,321

9,430

14,561

 
 
 
 
Equity in undistributed earnings of the Bank
(2,190
)
(4,223
)
(7,087
)
Net income
$
2,131

$
5,207

$
7,474



Condensed Statements of Comprehensive Income
 
Year Ended June 30,
(In Thousands)
2018
2017
2016
 
 
 
 
Net income
$
2,131

$
5,207

$
7,474

 
 
 
 
Other comprehensive income
—

—

—

 
 
 
 
Total comprehensive income
$
2,131

$
5,207

$
7,474




Condensed Statements of Cash Flows
 
Year Ended June 30,
(In Thousands)
2018
2017
2016
 
 
 
 
Cash flows from operating activities:
 
 
 
Net income
$
2,131

$
5,207

$
7,474

Adjustments to reconcile net income to net cash
provided by operating activities:
 
 
 
Equity in undistributed earnings of the Bank
2,190

4,223

7,087

Decrease (increase) in other assets
18

(36
)
(85
)
Increase (decrease) in other liabilities
10

—

(8
)
Net cash provided by operating activities
4,349

9,394

14,468

 
 
 
 
Cash flow from financing activities:
 
 
 
Exercise of stock options
677

942

590

Treasury stock purchases
(7,347
)
(8,714
)
(13,038
)
Cash dividends
(4,228
)
(4,119
)
(4,014
)
Net cash used for financing activities
(10,898
)
(11,891
)
(16,462
)
Net decrease in cash and cash equivalents
(6,549
)
(2,497
)
(1,994
)
Cash and cash equivalents at beginning of year
10,338

12,835

14,829

Cash and cash equivalents at end of year
$
3,789

$
10,338

$
12,835