XML 36 R25.htm IDEA: XBRL DOCUMENT
v3.20.4

Fair Value of Financial Instruments (Tables) | 6 Months Ended
--- | ---
Dec. 31, 2020
Fair Value of Financial Instruments |
Schedule of aggregate fair value and aggregate unpaid principal balance of loans held for sale |
|  |  |  |  | Aggregate |  |  |
|  |  |  |  | Unpaid |  | Net
|  | Aggregate |  | Principal |  | Unrealized
(In Thousands) |  | Fair Value |  | Balance |  | Loss
As of December 31, 2020: |  |  |  |  |  |  |  |  |
Loans held for investment, at fair value |  | $ | 1,972 |  | $ | 2,097 |  | $ | (125)
As of June 30, 2020: |  |  |  |  |  |  |  |  |
Loans held for investment, at fair value |  | $ | 2,258 |  | $ | 2,369 |  | $ | (111)
Schedule of fair value, assets and liabilities measured on recurring basis |
|  | Fair Value Measurement at December 31, 2020 Using:
(In Thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Investment securities - available for sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency MBS |  | $ | — |  | $ | 2,551 |  | $ | — |  | $ | 2,551
U.S. government sponsored enterprise MBS |  |  | — |  |  | 1,434 |  |  | — |  |  | 1,434
Private issue CMO |  |  | — |  |  | — |  |  | 173 |  |  | 173
Investment securities - available for sale |  |  | — |  |  | 3,985 |  |  | 173 |  |  | 4,158
Loans held for investment, at fair value |  |  | — |  |  | — |  |  | 1,972 |  |  | 1,972
Interest-only strips |  |  | — |  |  | — |  |  | 12 |  |  | 12
Total assets |  | $ | — |  | $ | 3,985 |  | $ | 2,157 |  | $ | 6,142
Liabilities |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Total liabilities |  | $ | — |  | $ | — |  | $ | — |  | $ | —
|  | Fair Value Measurement at June 30, 2020 Using:
(In Thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: |  |  |  |  |  |  |  |  |  |  |  |
Investment securities - available for sale: |  |  |  |  |  |  |  |  |  |  |  |
U.S. government agency MBS |  | $ | — |  | $ | 2,943 |  | $ | — |  | $ | 2,943
U.S. government sponsored enterprise MBS |  |  | — |  |  | 1,577 |  |  | — |  |  | 1,577
Private issue CMO |  |  | — |  |  | — |  |  | 197 |  |  | 197
Investment securities - available for sale |  |  | — |  |  | 4,520 |  |  | 197 |  |  | 4,717
Loans held for investment, at fair value |  |  | — |  |  | — |  |  | 2,258 |  |  | 2,258
Interest-only strips |  |  | — |  |  | — |  |  | 14 |  |  | 14
Total assets |  | $ | — |  | $ | 4,520 |  | $ | 2,469 |  | $ | 6,989
Liabilities: |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Total liabilities |  | $ | — |  | $ | — |  | $ | — |  | $ | —
Schedule for reconciliation of recurring fair value measurements using level 3 inputs |
|  | For the Quarter Ended December 31, 2020
|  | Fair Value Measurement
|  | Using Significant Other Unobservable Inputs
|  | (Level 3)
|  | Private Issue |  | Loans Held For Investment, |  | Interest- Only |  |  |
(In Thousands) |  | CMO |  | at fair value (1) |  | Strips |  | Total
Beginning balance at September 30, 2020 |  | $ | 184 |  | $ | 2,240 |  | $ | 13 |  | $ | 2,437
Total gains or losses (realized/unrealized): |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings |  |  | — |  |  | (11) |  |  | — |  |  | (11)
Included in other comprehensive loss |  |  | 2 |  |  | — |  |  | (1) |  |  | 1
Purchases |  |  | — |  |  | — |  |  | — |  |  | —
Issuances |  |  | — |  |  | — |  |  | — |  |  | —
Settlements |  |  | (13) |  |  | (257) |  |  | — |  |  | (270)
Transfers in and/or out of Level 3 |  |  | — |  |  | — |  |  | — |  |  | —
Ending balance at December 31, 2020 |  | $ | 173 |  | $ | 1,972 |  | $ | 12 |  | $ | 2,157
| (1) |  | The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan.
|  | For the Quarter Ended December 31, 2019
|  | Fair Value Measurement
|  | Using Significant Other Unobservable Inputs
|  | (Level 3)
|  | Private Issue |  | Loans Held For Investment, |  | Interest- |  |  |
(In Thousands) |  | CMO |  | at fair value (1) |  | Only Strips |  | Total
Beginning balance at September 30, 2019 |  | $ | 253 |  | $ | 4,386 |  | $ | 14 |  | $ | 4,653
Total gains or losses (realized/unrealized): |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings |  |  | — |  |  | 31 |  |  | — |  |  | 31
Included in other comprehensive loss |  |  | (3) |  |  | — |  |  | (1) |  |  | (4)
Purchases |  |  | — |  |  | — |  |  | — |  |  | —
Issuances |  |  | — |  |  | — |  |  | — |  |  | —
Settlements |  |  | (19) |  |  | (244) |  |  | — |  |  | (263)
Transfers in and/or out of Level 3 |  |  | — |  |  | — |  |  | — |  |  | —
Ending balance at December 31, 2019 |  | $ | 231 |  | $ | 4,173 |  | $ | 13 |  | $ | 4,417
| (1) |  | The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan.
|  | For the Six Months Ended December 31, 2020
|  | Fair Value Measurement
|  | Using Significant Other Unobservable Inputs
|  | (Level 3)
|  | Private Issue |  | Loans Held For Investment, |  | Interest- |  |  |
(In Thousands) |  | CMO |  | at fair value (1) |  | Only Strips |  | Total
Beginning balance at June 30, 2020 |  | $ | 197 |  | $ | 2,258 |  | $ | 14 |  | $ | 2,469
Total gains or losses (realized/unrealized): |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings |  |  | — |  |  | (15) |  |  | — |  |  | (15)
Included in other comprehensive loss |  |  | 6 |  |  | — |  |  | (2) |  |  | 4
Purchases |  |  | — |  |  | — |  |  | — |  |  | —
Issuances |  |  | — |  |  | — |  |  | — |  |  | —
Settlements |  |  | (30) |  |  | (271) |  |  | — |  |  | (301)
Transfers in and/or out of Level 3 |  |  | — |  |  | — |  |  | — |  |  | —
Ending balance at December 31, 2020 |  | $ | 173 |  | $ | 1,972 |  | $ | 12 |  | $ | 2,157
| (1) |  | The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan.
|  | For the Six Months Ended December 31, 2019
|  | Fair Value Measurement
|  | Using Significant Other Unobservable Inputs
|  | (Level 3)
|  |  |  |  | Loans Held |  |  |  |  |  |
|  | Private |  | For |  | Interest- |  |  |
|  | Issue |  | Investment, at |  | Only |  |  |
(In Thousands) |  | CMO |  | fair value (1) |  | Strips |  | Total
Beginning balance at June 30, 2019 |  | $ | 269 |  | $ | 5,094 |  | $ | 16 |  | $ | 5,379
Total gains or losses (realized/unrealized): |  |  |  |  |  |  |  |  |  |  |  |
Included in earnings |  |  | — |  |  | 13 |  |  | — |  |  | 13
Included in other comprehensive loss |  |  | (3) |  |  | — |  |  | (3) |  |  | (6)
Purchases |  |  | — |  |  | — |  |  | — |  |  | —
Issuances |  |  | — |  |  | — |  |  | — |  |  | —
Settlements |  |  | (35) |  |  | (934) |  |  | — |  |  | (969)
Transfers in and/or out of Level 3 |  |  | — |  |  | — |  |  | — |  |  | —
Ending balance at December 31, 2019 |  | $ | 231 |  | $ | 4,173 |  | $ | 13 |  | $ | 4,417
| (1) |  | The valuation of loans held for investment at fair value includes management estimates of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for the interest rate characteristics of each loan.
Schedule of fair value assets measured on nonrecurring basis |
|  | Fair Value Measurement at December 31, 2020 Using:
(In Thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Non-performing loans |  | $ | — |  | $ | 1,562 |  | $ | 8,708 |  | $ | 10,270
Mortgage servicing assets |  |  | — |  |  | — |  |  | 233 |  |  | 233
Total |  | $ | — |  | $ | 1,562 |  | $ | 8,941 |  | $ | 10,503
|  | Fair Value Measurement at June 30, 2020 Using:
(In Thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Non-performing loans |  | $ | — |  | $ | 2,042 |  | $ | 2,882 |  | $ | 4,924
Mortgage servicing assets |  |  | — |  |  | — |  |  | 382 |  |  | 382
Total |  | $ | — |  | $ | 2,042 |  | $ | 3,264 |  | $ | 5,306
Schedule of additional information about valuation techniques and inputs used for assets and liabilities | The following table presents additional information about valuation techniques and inputs used for assets and liabilities, which are measured at fair value and categorized within Level 3 as of December 31, 2020:
|  |  |  |  |  |  |  |  |  |  | Impact to
|  | Fair Value |  |  |  |  |  |  |  | Valuation
|  | As of |  |  |  |  |  |  |  | from an
|  | December 31, |  | Valuation |  |  |  | Range(1) |  | Increase in
(Dollars In Thousands) |  | 2020 |  | Techniques |  | Unobservable Inputs |  | (Weighted Average) |  | Inputs(2)
Assets: |  |  |  |  |  |  |  |  |  |  |
Securities available-for sale: Private issue CMO |  | $ | 173 |  | Market comparable pricing |  | Comparability adjustment |  | (0.1)% – (1.4)% ((0.3)%) |  | Increase
Loans held for investment, at fair value |  | $ | 1,972 |  | Relative value analysis |  | Broker quotes Credit risk factor |  | 97.6% – 102.0% (99.9%) of par 1.4% - 100.0% (5.9%) |  | Increase Decrease
Non-performing loans(3) |  | $ | 7,352 |  | Discounted cash flow |  | Default rates |  | 5.0% |  | Decrease
Non-performing loans(4) |  | $ | 1,356 |  | Relative value analysis |  | Credit risk factor |  | 20.0% - 30.0% (20.1%) |  | Decrease
Mortgage servicing assets |  | $ | 233 |  | Discounted cash flow |  | Prepayment speed (CPR) Discount rate |  | 20.4% - 60.0% (29.6%) 9.0% - 10.5% (9.1%) |  | Decrease Decrease
Interest-only strips |  | $ | 12 |  | Discounted cash flow |  | Prepayment speed (CPR) Discount rate |  | 20.4% - 23.0% (22.9%) 9.0% |  | Decrease Decrease
Liabilities: |  |  |  |  |  |  |  |  |  |  |
None |  |  |  |  |  |  |  |  |  |  |
| (1) |  | The range is based on the historical estimated fair values and management estimates.
| (2) |  | Unless otherwise noted, this column represents the directional change in the fair value of the Level 3 investments that would result from an increase to the corresponding unobservable input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs in isolation could result in significantly higher or lower fair value measurements.
| (3) |  | Consists of restructured loans.
| (4) |  | Consists of other non-performing loans, excluding restructured loans.
Schedule of carrying amount and fair value of financial instruments |
|  | December 31, 2020
|  | Carrying |  | Fair |  |  |  |  |  |  |
(In Thousands) |  | Amount |  | Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities - held to maturity |  | $ | 203,098 |  | $ | 206,451 |  | $ | — |  | $ | 206,451 |  | $ | —
Loans held for investment, not recorded at fair value |  | $ | 853,114 |  | $ | 854,482 |  | $ | — |  | $ | — |  | $ | 854,482
FHLB – San Francisco stock |  | $ | 7,970 |  | $ | 7,970 |  | $ | — |  | $ | 7,970 |  | $ | —
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 909,968 |  | $ | 879,153 |  | $ | — |  | $ | — |  | $ | 879,153
Borrowings |  | $ | 116,015 |  | $ | 120,942 |  | $ | — |  | $ | — |  | $ | 120,942
|  | June 30, 2020
|  | Carrying |  | Fair |  |  |  |  |  |  |
(In Thousands) |  | Amount |  | Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Investment securities - held to maturity |  | $ | 118,627 |  | $ | 121,201 |  | $ | — |  | $ | 121,201 |  | $ | —
Loans held for investment, not recorded at fair value |  | $ | 900,538 |  | $ | 902,074 |  | $ | — |  | $ | — |  | $ | 902,074
FHLB – San Francisco stock |  | $ | 7,970 |  | $ | 7,970 |  | $ | — |  | $ | 7,970 |  | $ | —
Financial liabilities: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Deposits |  | $ | 892,969 |  | $ | 864,239 |  | $ | — |  | $ | — |  | $ | 864,239
Borrowings |  | $ | 141,047 |  | $ | 149,976 |  | $ | — |  | $ | — |  | $ | 149,976

X
- Definition -- None. No documentation exists for this element. -- + References No definition available. + Details
Name: | prov_ScheduleOfAggregateFairValueAndAggregateUnpaidPrincipalBalanceOfLoansHeldForSaleTableTextBlock
Namespace Prefix: | prov_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of input and valuation technique used to measure fair value and change in valuation approach and technique for each separate class of asset and liability measured on recurring and nonrecurring basis. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities by class, including financial instruments measured at fair value that are classified in shareholders' equity, if any, that are measured at fair value on a nonrecurring basis in periods after initial recognition (for example, impaired assets). Disclosures may include, but are not limited to: (a) the fair value measurements recorded and the reasons for the measurements and (b) the level within the fair value hierarchy in which the fair value measurements are categorized in their entirety (levels 1, 2, 3). + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (bbb) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value measurement of assets using significant unobservable inputs (Level 3), a reconciliation of the beginning and ending balances, separately presenting changes during the period attributable to the following: (1) total gains or losses for the period (realized and unrealized), segregating those gains or losses included in earnings (or changes in net assets) and gains or losses recognized in other comprehensive income (loss), and a description of where those gains or losses included in earnings (or changes in net assets) are reported in the statement of income (or activities); (2) purchases, sales, issues, and settlements (each type disclosed separately); and (3) transfers in and transfers out of Level 3 (for example, transfers due to changes in the observability of significant inputs), by class of asset. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19279-110258 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (c) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of the fair value of financial instruments, including financial assets and financial liabilities, and the measurements of those instruments, assets, and liabilities. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 825 -SubTopic 10 -Section 50 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=121572278&loc=d3e13467-108611 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- References No definition available. + Details
Name: | us-gaap_FairValueDisclosuresAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition Tabular disclosure of assets and liabilities, including [financial] instruments measured at fair value that are classified in stockholders' equity, if any, that are measured at fair value on a recurring basis. The disclosures contemplated herein include the fair value measurements at the reporting date by the level within the fair value hierarchy in which the fair value measurements in their entirety fall, segregating fair value measurements using quoted prices in active markets for identical assets (Level 1), significant other observable inputs (Level 2), and significant unobservable inputs (Level 3). + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 820 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI http://asc.fasb.org/extlink&oid=117815213&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | nonnum:textBlockItemType
Balance Type: | na
Period Type: | duration