XML 49 R38.htm IDEA: XBRL DOCUMENT v3.19.1
Operating Segment Reports (Details) - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Mar. 31, 2019
Mar. 31, 2018
Jun. 30, 2018
Net interest income $ 9,612 $ 9,124 $ 28,800 $ 26,993  
Provision (recovery) for loan losses 4 (505) (450) (347)  
Net interest income, after provision (recovery) for loan losses 9,608 9,629 29,250 27,340  
Non-interest income:          
Gain (loss) on sale of loans, net [2] 1,719 [1] 3,597 [3],[4] 7,114 [3] 12,761 [5]  
Gain (loss) on sale and operations of real estate owned acquired in the settlement of loans, net 2 (19) (4) (81)  
Other 225 238 575 701  
Total non-interest income 3,052 5,210 11,196 17,303  
Non-interest expense:          
Salaries and employee benefits [6] 9,292 8,808 24,753 26,710  
Premises and occupancy 1,286 1,255 3,905 3,829  
Operating and administrative expenses 2,422 2,376 6,921 10,847 [7]  
Total non-interest expense 13,000 12,439 35,579 41,386  
Income (loss) before income taxes (340) 2,400 4,867 3,257  
Provision (benefit) for income taxes [8] (189) 667 1,237 2,526 [9]  
Net income (loss) (151) 1,733 3,630 731  
Total assets, end of period 1,119,395 1,176,602 1,119,395 1,176,602 $ 1,175,549
Loan servicing and other fees          
Non-interest income:          
Total non-interest income [2] 262 [10] 493 [11] 863 [12] 1,173 [13]  
Provident Bank          
Net interest income 9,431 8,750 27,956 25,517  
Provision (recovery) for loan losses 74 (505) (475) (347)  
Net interest income, after provision (recovery) for loan losses 9,357 9,255 28,431 25,864  
Non-interest income:          
Gain (loss) on sale of loans, net (1) [1] (1) [4] 33 [3] 21 [5]  
Gain (loss) on sale and operations of real estate owned acquired in the settlement of loans, net 2 (19) (4) (81)  
Other 223 238 573 701  
Total non-interest income 1,171 1,432 3,337 3,858  
Non-interest expense:          
Salaries and employee benefits 5,002 4,763 14,138 13,714  
Premises and occupancy 847 842 2,652 2,491  
Operating and administrative expenses 1,314 1,050 3,307 4,490 [7]  
Total non-interest expense 7,163 6,655 20,097 20,695  
Income (loss) before income taxes 3,365 4,032 11,671 9,027  
Provision (benefit) for income taxes 907 1,252 3,249 4,595 [9]  
Net income (loss) 2,458 2,780 8,422 4,432  
Total assets, end of period 1,088,716 1,086,437 1,088,716 1,086,437  
Provident Bank | Loan servicing and other fees          
Non-interest income:          
Total non-interest income 103 [10] 313 [11] 87 [12] 468 [13]  
Provident Bank | Deposit account fees          
Non-interest income:          
Total non-interest income 471 529 1,485 1,623  
Provident Bank | Card and processing fees          
Non-interest income:          
Total non-interest income 373 372 1,163 1,126  
Provident Bank Mortgage          
Net interest income 181 374 844 1,476  
Provision (recovery) for loan losses (70) 0 25 0  
Net interest income, after provision (recovery) for loan losses 251 374 819 1,476  
Non-interest income:          
Gain (loss) on sale of loans, net 1,720 [1] 3,598 [4] 7,081 [3] 12,740 [5]  
Gain (loss) on sale and operations of real estate owned acquired in the settlement of loans, net 0 0 0 0  
Other 2 0 2 0  
Total non-interest income 1,881 3,778 7,859 13,445  
Non-interest expense:          
Salaries and employee benefits 4,290 4,045 10,615 12,996  
Premises and occupancy 439 413 1,253 1,338  
Operating and administrative expenses 1,108 1,326 3,614 6,357 [7]  
Total non-interest expense 5,837 5,784 15,482 20,691  
Income (loss) before income taxes (3,705) (1,632) (6,804) (5,770)  
Provision (benefit) for income taxes (1,096) (585) (2,012) (2,069) [9]  
Net income (loss) (2,609) (1,047) (4,792) (3,701)  
Total assets, end of period 30,679 90,165 30,679 90,165  
Provident Bank Mortgage | Loan servicing and other fees          
Non-interest income:          
Total non-interest income 159 [10] 180 [11] 776 [12] 776 [13]  
Provident Bank Mortgage | Deposit account fees          
Non-interest income:          
Total non-interest income 0 0 0 0  
Provident Bank Mortgage | Card and processing fees          
Non-interest income:          
Total non-interest income $ 0 $ 0 $ 0 $ 0  
[1] Includes an inter-company charge of $17 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.
[2] Not in scope of ASC 606.
[3] Includes an inter-company charge of $37 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.
[4] Includes an inter-company charge of $44 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.
[5] Includes an inter-company charge of $182 credited to PBM by the Bank during the period to compensate PBM for servicing fees on loans sold on a servicing retained basis.
[6] Includes $1.5 million of costs associated with staff reductions in mortgage banking operations during the quarter and nine months ended March 31, 2019.
[7] Includes $3.4 million of litigation settlement expense for the first nine months of fiscal 2018, of which $2.1 million was allocated to PBM.
[8] Includes a net tax charge of $1.9 million resulting from the revaluation of net deferred tax assets consistent with the Tax Cuts and Jobs Act for the nine months ended March 31, 2018.
[9] Includes a net tax charge of $1.9 million resulting from the revaluation of net deferred tax assets consistent with the Tax Cuts and Jobs Act for the nine months ended December 31, 2017.
[10] Includes an inter-company charge of $2 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment.
[11] Includes an inter-company charge of $222 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment.
[12] Includes an inter-company charge of $428 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment.
[13] Includes an inter-company charge of $561 credited to PBM by the Bank during the period to compensate PBM for originating loans held for investment.