XML 59 R42.htm IDEA: XBRL DOCUMENT
v3.22.2.2

Fair Value of Financial Instruments (Tables) | 12 Months Ended
--- | ---
Jun. 30, 2022
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 June 30, 2022: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans held for investment, at fair value | ​ | $ | 1,396 | ​ | $ | 1,569 | ​ | $ | (173)
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
As of June 30, 2021: | ​ |  |  | ​ |  |  | ​ |  |
Loans held for investment, at fair value | ​ | $ | 1,874 | ​ | $ | 1,934 | ​ | $ | (60)
Schedule of fair value, assets and liabilities measured on recurring basis | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement at June 30, 2022 Using:
(In Thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities - available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agency MBS | ​ | $ | — | ​ | $ | 1,698 | ​ | $ | — | ​ | $ | 1,698
U.S. government sponsored enterprise MBS | ​ |  | — | ​ |  | 865 | ​ |  | — | ​ |  | 865
Private issue CMO | ​ |  | — | ​ |  | — | ​ |  | 113 | ​ |  | 113
Investment securities - available for sale | ​ |  | — | ​ |  | 2,563 | ​ |  | 113 | ​ |  | 2,676
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans held for investment, at fair value | ​ |  | — | ​ |  | — | ​ |  | 1,396 | ​ |  | 1,396
Interest-only strips | ​ |  | — | ​ |  | — | ​ |  | 7 | ​ |  | 7
Total assets | ​ | $ | — | ​ | $ | 2,563 | ​ | $ | 1,516 | ​ | $ | 4,079
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Total liabilities | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement at June 30, 2021 Using:
(In Thousands) |  | ​ | Level 1 | ​ | ​ | Level 2 |  | ​ | Level 3 |  | ​ | Total
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Investment securities - available for sale: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
U.S. government agency MBS | ​ | $ | — | ​ | $ | 2,222 | ​ | $ | — | ​ | $ | 2,222
U.S. government sponsored enterprise MBS | ​ |  | — | ​ |  | 1,211 | ​ |  | — | ​ |  | 1,211
Private issue CMO | ​ |  | — | ​ |  | — | ​ |  | 154 | ​ |  | 154
Investment securities - available for sale | ​ |  | — | ​ |  | 3,433 | ​ |  | 154 | ​ |  | 3,587
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans held for investment, at fair value | ​ |  | — | ​ |  | — | ​ |  | 1,874 | ​ |  | 1,874
Interest-only strips | ​ |  | — | ​ |  | — | ​ |  | 10 | ​ |  | 10
Total assets | ​ | $ | — | ​ | $ | 3,433 | ​ | $ | 2,038 | ​ | $ | 5,471
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Liabilities: | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Total liabilities | ​ | $ | — | ​ | $ | — | ​ | $ | — | ​ | $ | —
Schedule for reconciliation of recurring fair value measurements using level 3 inputs | The following is a reconciliation of the beginning and ending balances during the periods shown of recurring fair value measurements recognized in the Consolidated Statements of Financial Condition using Level 3 inputs: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement
​ | ​ | Using Significant Other Unobservable Inputs
​ | ​ | (Level 3)
​ | ​ | Private | ​ | Loans Held For | ​ | Interest- | ​ | ​
​ | ​ | Issue | ​ | Investment, at | ​ | Only | ​ | ​
(In Thousands) |  | CMO |  | fair value(1) |  | Strips |  | Total
Beginning balance at June 30, 2021 | ​ | $ | 154 | ​ | $ | 1,874 | ​ | $ | 10 | ​ | $ | 2,038
Total gains or losses (realized/unrealized): | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Included in earnings | ​ |  | — | ​ |  | (113) | ​ |  | — | ​ |  | (113)
Included in other comprehensive income (loss) | ​ |  | (7) | ​ |  | — | ​ |  | (3) | ​ |  | (10)
Purchases | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Issuances | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Settlements | ​ |  | (34) | ​ |  | (365) | ​ |  | — | ​ |  | (399)
Transfers in and/or out of Level 3 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Ending balance at June 30, 2022 | ​ | $ | 113 | ​ | $ | 1,396 | ​ | $ | 7 | ​ | $ | 1,516
​
(1) | The valuation of loans held for investment at fair value includes management’s estimate of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for interest rate characteristics.
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement
​ | ​ | Using Significant Other Unobservable Inputs
​ | ​ | (Level 3)
​ | ​ | Private | ​ | Loans Held For | ​ | Interest- | ​ | ​
​ | ​ | Issue | ​ | Investment, at | ​ | Only | ​ | ​
(In Thousands) |  | CMO |  | fair value(1) |  | Strips |  | Total
Beginning balance at June 30, 2020 | ​ | $ | 197 | ​ | $ | 2,258 | ​ | $ | 14 | ​ | $ | 2,469
Total gains or losses (realized/ unrealized): | ​ |  | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Included in earnings | ​ |  | — | ​ |  | 51 | ​ |  | — | ​ |  | 51
Included in other comprehensive income (loss) | ​ |  | 9 | ​ |  | — | ​ |  | (4) | ​ |  | 5
Purchases | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Issuances | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Settlements | ​ |  | (52) | ​ |  | (435) | ​ |  | — | ​ |  | (487)
Transfers in and/or out of Level 3 | ​ |  | — | ​ |  | — | ​ |  | — | ​ |  | —
Ending balance at June 30, 2021 | ​ | $ | 154 | ​ | $ | 1,874 | ​ | $ | 10 | ​ | $ | 2,038
​
(1) | The valuation of loans held for investment at fair value includes management’s estimate of the specific credit risk attributes of each loan, in addition to the quoted secondary-market prices which account for interest rate characteristics.
Schedule of fair value assets measured on nonrecurring basis | ​ The following fair value hierarchy table presents information about the Corporation’s assets measured at fair value at the dates indicated on a nonrecurring basis: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement at June 30, 2022 Using:
(In Thousands) |  | Level 1 |  | Level 2 |  | Level 3 |  | Total
Non-performing loans | ​ | $ | — | ​ | $ | 515 | ​ | $ | 908 | ​ | $ | 1,423
Mortgage servicing assets | ​ |  | — | ​ |  | — | ​ |  | 168 | ​ |  | 168
Total | ​ | $ | — | ​ | $ | 515 | ​ | $ | 1,076 | ​ | $ | 1,591
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Fair Value Measurement at June 30, 2021 Using:
(In Thousands) | ​ | Level 1 | ​ | Level 2 | ​ | Level 3 | ​ | Total
Non-performing loans |  | $ | — | ​ | $ | 899 | ​ | $ | 7,747 | ​ | $ | 8,646
Mortgage servicing assets | ​ |  | — | ​ |  | — | ​ |  | 208 | ​ |  | 208
Total | ​ | $ | — | ​ | $ | 899 | ​ | $ | 7,955 | ​ | $ | 8,854
​
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, including derivative financial instruments, which are measured at fair value and categorized within Level 3 as of June 30, 2022:
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Impact to
​ | ​ | Fair Value | ​ | ​ | ​ | ​ | ​ | ​ | ​ | Valuation
​ | ​ | As of | ​ | ​ | ​ | ​ | ​ | ​ | ​ | from an
​ | ​ | June 30, | ​ | Valuation | ​ | ​ | ​ | Range(1) | ​ | Increase in
(Dollars In Thousands) |  | 2022 |  | Techniques |  | Unobservable Inputs |  | (Weighted Average) |  | Inputs(2)
Assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Securities available-for sale: Private issue CMO | ​ | $ | 113 |  | Market comparable pricing |  | Comparability adjustment |  | 0.96% |  | Increase
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans held for investment, at fair value | ​ | $ | 1,396 |  | Relative value analysis |  | Broker quotes |  | 91.1% - 98.0% (93.4%) of par |  | Increase
​ | ​ | ​ | ​ | ​ | ​ | ​ | Credit risk factor |  | 1.2% - 100.0% (4.6%) | ​ | Decrease
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing loans(3) | ​ | $ | 722 |  | Discounted cash flow |  | Default rates |  | 5.0% | ​ | Decrease
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Non-performing loans(4) | ​ | $ | 186 |  | Relative value analysis |  | Credit risk factor |  | 20.0% |  | Decrease
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Mortgage servicing assets | ​ | $ | 168 |  | Discounted cash flow |  | Prepayment rate (CPR) |  | 4.8% - 60.0% (10.9%) |  | Decrease
​ | ​ | ​ | ​ | ​ | ​ |  | Discount rate |  | 9.0% - 10.5% (9.0%) |  | Decrease
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Interest-only strips | ​ | $ | 7 |  | Discounted cash flow |  | Prepayment rate (CPR) |  | 9.5% - 32.0% (30.6%) | ​ | Decrease
​ | ​ | ​ | ​ | ​ | ​ |  | Discount rate |  | 9.0% |  | 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) | Consist of restructured loans.
(4) | Consist of other non-performing loans, excluding restructured loans.
​
Schedule of carrying amount and fair value of financial instruments | ​ The carrying amount and fair value of the Corporation’s other financial instruments as of June 30, 2022 and 2021 were as follows: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2022
​ | ​ | Carrying | ​ | Fair | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In Thousands) |  | Amount |  | Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans held for investment, not recorded at fair value | ​ | $ | 938,596 | ​ | $ | 892,339 | ​ | $ | — | ​ | $ | — | ​ | $ | 892,339
Investment securities - held to maturity | ​ | $ | 185,745 | ​ | $ | 171,724 | ​ | $ | — | ​ | $ | 171,724 | ​ | $ | —
FHLB – San Francisco stock | ​ | $ | 8,239 | ​ | $ | 8,239 | ​ | $ | — | ​ | $ | 8,239 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial liabilities: | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |  | ​ |  |
Deposits | ​ | $ | 955,504 | ​ | $ | 917,220 | ​ | $ | — | ​ | $ | — | ​ | $ | 917,220
Borrowings | ​ | $ | 85,000 | ​ | $ | 84,299 | ​ | $ | — | ​ | $ | — | ​ | $ | 84,299
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | June 30, 2021
​ | ​ | Carrying | ​ | Fair | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
(In Thousands) |  | Amount |  | Value |  | Level 1 |  | Level 2 |  | Level 3
Financial assets: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Loans held for investment, not recorded at fair value | ​ | $ | 849,086 | ​ | $ | 848,727 | ​ | $ | — | ​ | $ | — | ​ | $ | 848,727
Investment securities - held to maturity | ​ | $ | 223,306 | ​ | $ | 224,721 | ​ | $ | — | ​ | $ | 224,721 | ​ | $ | —
FHLB – San Francisco stock | ​ | $ | 8,155 | ​ | $ | 8,155 | ​ | $ | — | ​ | $ | 8,155 | ​ | $ | —
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Financial liabilities: | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​ | ​ |  | ​
Deposits | ​ | $ | 937,973 | ​ | $ | 904,673 | ​ | $ | — | ​ | $ | — | ​ | $ | 904,673
Borrowings | ​ | $ | 100,983 | ​ | $ | 104,526 | ​ | $ | — | ​ | $ | — | ​ | $ | 104,526
​

X
- Definition -- None. No documentation exists for this element. -- + References No definition available. + Details
Name: | prov_ScheduleOfAggregateFairValueAndAggregateUnpaidPrincipalBalanceOfLoansHeldForSaleTableTextBlock
Namespace Prefix: | prov_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsAndLiabilitiesMeasuredOnRecurringAndNonrecurringBasisValuationTechniquesTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnNonrecurringBasisTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueAssetsMeasuredOnRecurringBasisUnobservableInputReconciliationTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=123594938&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_FairValueByBalanceSheetGroupingTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types: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 https://asc.fasb.org/extlink&oid=126976982&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 https://asc.fasb.org/extlink&oid=126976982&loc=d3e19207-110258 + Details
Name: | us-gaap_ScheduleOfFairValueAssetsAndLiabilitiesMeasuredOnRecurringBasisTableTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration