{"url":"https://newsforagent.com/news/2026-11-06/provident-financial-fiscal-2027-first-quarter-results","markdown_url":"https://newsforagent.com/news/2026-11-06/provident-financial-fiscal-2027-first-quarter-results.md","title":"Provident Financial Q1 Fiscal 2027 Net Income Falls 6%","headline":"Provident Financial Posts $1.57 Million Net Income as Credit Provision Replaces Recovery","description":"Provident Financial's first-quarter fiscal 2027 net income fell 6% to $1.57 million as a $777,000 credit-loss provision replaced a prior-year recovery.","section":"Earnings & Results","published_at":"2026-11-06T19:14:21+00:00","modified_at":"2026-11-06T19:14:21+00:00","author":"News Desk","key_takeaways":["Provident Financial's first-quarter fiscal 2027 net income fell 6% to $1.57 million from $1.68 million a year earlier.","Revenue rose 8.5% to $10.57 million, and net interest margin increased to 3.32% from 3.00%.","A $777,000 credit-loss provision replaced a $626,000 recovery, while loan originations for investment rose 53% to $45.4 million."],"companies":[{"name":"Provident Financial Services","is_primary":true,"profile_url":"https://akta.pro/company-profiles/0005tge/provident-financial-services","website":"https://www.provident.bank"}],"source":{"publisher":"TradingView","title":"Provident Financial 3Q 2026: Revenue $10.57M, EPS $0.25 — 10-Q Summary","url":"https://www.tradingview.com/news/tradingview:48b90287e4c56:0-provident-financial-3q-2026-revenue-10-57m-eps-0-25-10-q-summary/"},"other_sources":[],"tags":["Earnings & Results","Provident Financial Services"],"body_markdown":"Provident Financial Holdings reported first-quarter fiscal 2027 net income of $1.57 million, down 6% from $1.68 million a year earlier, as a $777,000 credit-loss provision replaced a $626,000 recovery. Revenue rose 8.5% to $10.57 million, [TradingView](https://www.tradingview.com/news/tradingview:48b90287e4c56:0-provident-financial-3q-2026-revenue-10-57m-eps-0-25-10-q-summary/) reported. Diluted earnings per share were $0.25, unchanged from the prior-year quarter.\n\n## How the Credit Provision Shifted Results\n\nThe provision reflected a longer expected portfolio life as mortgage rates increased, partly offset by lower historical loss rates and improved forecasts. A 9% increase in net interest income partly offset the provision's effect on net income. Net interest margin rose to 3.32% from 3.00%, aided in part by a $307,000 special FHLB dividend that contributed approximately 10 basis points. Loans originated for investment totaled $45.4 million, up 53% from $29.6 million a year earlier. Loans held for investment rose $4.0 million to $1.04 billion, as single-family and commercial real estate growth partly offset a multi-family decline.\n\n## Provident Financial's Scale and Leadership Changes\n\n[Provident Financial Services](https://akta.pro/company-profiles/0005tge/provident-financial-services) is the publicly traded holding company for Provident Bank, a regional bank founded in 1839 serving clients across New Jersey, New York, and Pennsylvania through 140 branches, according to akta.pro [company records](https://akta.pro/company-data). The same records list total assets of $25.2 billion as of March 31, 2026, and a May 2024 merger with Lakeland Bancorp that created a franchise with approximately $24.5 billion in combined assets. The records also show Adriano Duarte appointed Executive Vice President and Chief Financial Officer effective July 1, 2026, succeeding Thomas Lyons, who is retiring after 14 years as CFO.\n\n## Earlier Results and Buyback Authorization\n\nOn October 27, 2026, Provident Financial Holdings reported the same first-quarter fiscal 2027 net income of $1.57 million, down 28% from the prior quarter and 6% year over year, with net interest margin at 3.32% and total deposits down 1% to $897.7 million, GlobeNewswire reported. On October 22, 2026, TradingView reported that the company authorized a new stock buyback plan for up to 5% of its common stock, approximately 305,477 shares, beginning after the January 2026 program ends with about 21,674 shares remaining.\n\n## What Comes After the January 2026 Buyback\n\nThe new repurchase plan begins after the January 2026 program ends, which has about 21,674 shares remaining.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}