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Operating Segment Reports (Tables) | 6 Months Ended
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Dec. 31, 2017
Segment Reporting [Abstract] |
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 and six months ended December 31, 2017 and 2016, respectively.
| For the Quarter Ended December 31, 2017
(In Thousands) | Provident Bank | Provident Bank Mortgage | Consolidated Totals
Net interest income | $ | 8,217 |  | $ | 534 |  | $ | 8,751 |
Recovery from the allowance for loan losses | (11 | ) | — |  | (11 | )
Net interest income, after recovery from the allowance for loan losses | 8,228 |  | 534 |  | 8,762 |
Non-interest income: |  |  |
Loan servicing and other fees (1) | 108 |  | 209 |  | 317 |
Gain on sale of loans, net (2) | 22 |  | 4,295 |  | 4,317 |
Deposit account fees | 536 |  | — |  | 536 |
Loss on sale and operations of real estate owned acquired in the settlement of loans, net | (22 | ) | — |  | (22 | )
Card and processing fees | 373 |  | — |  | 373 |
Other | 220 |  | — |  | 220 |
Total non-interest income | 1,237 |  | 4,504 |  | 5,741 |
Non-interest expense: |  |  |
Salaries and employee benefits | 4,449 |  | 4,184 |  | 8,633 |
Premises and occupancy | 822 |  | 438 |  | 1,260 |
Operating and administrative expenses(3) | 1,189 |  | 2,131 |  | 3,320 |
Total non-interest expense | 6,460 |  | 6,753 |  | 13,213 |
Income (loss) before income taxes | 3,005 |  | (1,715 | ) | 1,290 |
Provision (benefit) for income taxes(4) | 2,532 |  | (465 | ) | 2,067 |
Net income (loss) | $ | 473 |  | $ | (1,250 | ) | $ | (777 | )
Total assets, end of period | $ | 1,065,204 |  | $ | 96,927 |  | $ | 1,162,131 |
(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 $79 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.
(3) | Includes $650,000 of litigation expense accrual for the second quarter of fiscal 2018, all of which was allocated to PBM.
(4) | Includes a net tax charge of $1.8 million resulting from the revaluation of net deferred tax assets consistent with the Tax Cuts and Jobs Act for the quarter ended December 31, 2017.
| For the Quarter Ended December 31, 2016
(In Thousands) | Provident Bank | Provident Bank Mortgage | Consolidated Totals
Net interest income | $ | 7,821 |  | $ | 1,264 |  | $ | 9,085 |
Recovery from the allowance for loan losses | (346 | ) | (4 | ) | (350 | )
Net interest income after recovery from the allowance for loan losses | 8,167 |  | 1,268 |  | 9,435 |
Non-interest income: |  |  |
Loan servicing and other fees (1) | 250 |  | 60 |  | 310 |
Gain on sale of loans, net (2) | 37 |  | 6,441 |  | 6,478 |
Deposit account fees | 552 |  | — |  | 552 |
Loss on sale and operations of real estate owned acquired in the settlement of loans, net | (58 | ) | (5 | ) | (63 | )
Card and processing fees | 361 |  | — |  | 361 |
Other | 194 |  | — |  | 194 |
Total non-interest income | 1,336 |  | 6,496 |  | 7,832 |
Non-interest expense: |  |  |
Salaries and employee benefits | 4,642 |  | 5,707 |  | 10,349 |
Premises and occupancy | 792 |  | 443 |  | 1,235 |
Operating and administrative expenses | 1,152 |  | 1,932 |  | 3,084 |
Total non-interest expense | 6,586 |  | 8,082 |  | 14,668 |
Income (loss) before income taxes | 2,917 |  | (318 | ) | 2,599 |
Provision (benefit) for income taxes | 1,228 |  | (133 | ) | 1,095 |
Net income (loss) | $ | 1,689 |  | $ | (185 | ) | $ | 1,504 |
Total assets, end of period | $ | 1,035,158 |  | $ | 156,997 |  | $ | 1,192,155 |
(1) | 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.
(2) | Includes an inter-company charge of $109 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 Six Months Ended December 31, 2017
(In Thousands) | Provident Bank | Provident Bank Mortgage | Consolidated Totals
Net interest income | $ | 16,767 |  | $ | 1,102 |  | $ | 17,869 |
Provision for loan losses | 158 |  | — |  | 158 |
Net interest income, after provision for loan losses | 16,609 |  | 1,102 |  | 17,711 |
Non-interest income: |  |  |
Loan servicing and other fees (1) | 155 |  | 525 |  | 680 |
Gain on sale of loans, net (2) | 22 |  | 9,142 |  | 9,164 |
Deposit account fees | 1,094 |  | — |  | 1,094 |
Loss on sale and operations of real estate owned acquired in the settlement of loans, net | (62 | ) | — |  | (62 | )
Card and processing fees | 754 |  | — |  | 754 |
Other | 463 |  | — |  | 463 |
Total non-interest income | 2,426 |  | 9,667 |  | 12,093 |
Non-interest expense: |  |  |
Salaries and employee benefits | 8,951 |  | 8,951 |  | 17,902 |
Premises and occupancy | 1,649 |  | 925 |  | 2,574 |
Operating and administrative expenses(3) | 3,440 |  | 5,031 |  | 8,471 |
Total non-interest expense | 14,040 |  | 14,907 |  | 28,947 |
Income (loss) before income taxes | 4,995 |  | (4,138 | ) | 857 |
Provision (benefit) for income taxes(4) | 3,343 |  | (1,484 | ) | 1,859 |
Net income (loss) | $ | 1,652 |  | $ | (2,654 | ) | $ | (1,002 | )
Total assets, end of period | $ | 1,065,204 |  | $ | 96,927 |  | $ | 1,162,131 |
(1) | Includes an inter-company charge of $339 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 $138 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.
(3) | Includes $3.4 million of litigation accrual expense for the first six months of fiscal 2018, of which $2.1 million was allocated to PBM.
(4) | Includes a net tax charge of $1.8 million resulting from the revaluation of net deferred tax assets consistent with the Tax Cuts and Jobs Act for the six months ended December 31, 2017.
| For the Six Months Ended December 31, 2016
(In Thousands) | Provident Bank | Provident Bank Mortgage | Consolidated Totals
Net interest income | $ | 15,396 |  | $ | 2,777 |  | $ | 18,173 |
Recovery from the allowance for loan losses | (310 | ) | (190 | ) | (500 | )
Net interest income, after recovery from the allowance for loan losses | 15,706 |  | 2,967 |  | 18,673 |
Non-interest income: |  |  |
Loan servicing and other fees (1) | 319 |  | 258 |  | 577 |
Gain on sale of loans, net (2) | 38 |  | 14,436 |  | 14,474 |
Deposit account fees | 1,102 |  | — |  | 1,102 |
Loss on sale and operations of real estate owned acquired in the settlement of loans, net | (163 | ) | (3 | ) | (166 | )
Card and processing fees | 725 |  | — |  | 725 |
Other | 372 |  | — |  | 372 |
Total non-interest income | 2,393 |  | 14,691 |  | 17,084 |
Non-interest expense: |  |  |
Salaries and employee benefits | 9,536 |  | 12,127 |  | 21,663 |
Premises and occupancy | 1,648 |  | 876 |  | 2,524 |
Operating and administrative expenses | 2,299 |  | 3,814 |  | 6,113 |
Total non-interest expense | 13,483 |  | 16,817 |  | 30,300 |
Income before income taxes | 4,616 |  | 841 |  | 5,457 |
Provision for income taxes | 2,005 |  | 354 |  | 2,359 |
Net income | $ | 2,611 |  | $ | 487 |  | $ | 3,098 |
Total assets, end of period | $ | 1,035,158 |  | $ | 156,997 |  | $ | 1,192,155 |
(1) | Includes an inter-company charge of $223 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 $168 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.

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