PROVMEDIUM SIGNALFINANCIAL10-K

PROV shows mixed operational performance with substantially higher operating cash flow but declining net income and increased share repurchase activity.

The disconnect between improved operating cash flow and reduced net income suggests potential non-cash charges or timing differences that warrant further investigation. The company's increased share buyback activity combined with reduced capital expenditures indicates a shift toward returning capital to shareholders rather than investing in growth.

Comparing 2025-08-29 vs 2024-08-30View on EDGAR →
FINANCIAL ANALYSIS

PROV's fiscal 2025 results present a mixed picture with operating cash flow substantially higher at $8.7 million while net income declined to $6.3 million. The company meaningfully increased share repurchases to $4.4 million and dramatically reduced capital expenditures to $530K. This combination suggests PROV is prioritizing capital returns over reinvestment while generating stronger operational cash flows despite lower reported earnings.

FINANCIAL STATEMENT CHANGES
Share Buybacks
Cash Flow
+71%
$2.6M→$4.4M

Share repurchases increased 71% — management returning capital, signals confidence in intrinsic value.

Capital Expenditure
Cash Flow
-66.6%
$1.6M→$530K

Capex reduced 66.6% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Operating Cash Flow
Cash Flow
+52.8%
$5.7M→$8.7M

Operating cash flow surged 52.8% — exceptional cash generation, highest quality earnings signal.

Net Income
P&L
-14.9%
$7.4M→$6.3M

Net income declined 14.9% — review whether driven by operations, interest costs, or non-recurring items.

LANGUAGE CHANGES
NEW — 2025-08-29
PRIOR — 2024-08-30
ADDED
As of August 25, 2025, there were 6,577,038 shares of the registrant s common stock issued and outstanding.
Business: 1 General 1 Subsequent Events 1 Market Area 2 Competition 2 Reportable Segments 3 Internet Website 3 Lending Activities 3 Loan Servicing 12 Asset Quality 12 Investment Securities Activities 17 Deposit Activities and Other Sources of Funds 19 Subsidiary Activities 23 Regulation 24 Taxation 32 Employees and Human Capital 33 Executive Officers 34 Item 1A.
Management s Discussion and Analysis of Financial Condition and Results of Operations: 49 General 50 Critical Accounting Estimates 51 Executive Summary and Operating Strategy 51 Comparison of Financial Condition at June 30, 2025 and 2024 53 Comparison of Operating Results for the Fiscal Years Ended June 30, 2025 and 2024 54 Average Balances, Interest and Average Yields/Costs 58 Rate/Volume Variance 59 Liquidity and Capital Resources 59 Item 7A.
At June 30, 2025, the Corporation had consolidated total assets of $1.25 billion, total deposits of $888.8 million and stockholders equity of $128.5 million.
The Foundation was funded with a $500,000 charitable contribution made by the Bank in fiscal 2006.
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REMOVED
As of August 23, 2024, there were 6,862,888 shares of the registrant s common stock issued and outstanding.
Business: 1 General 1 Subsequent Events 1 Market Area 2 Competition 2 Reportable Segments 3 Internet Website 3 Lending Activities 3 Loan Servicing 12 Asset Quality 13 Investment Securities Activities 19 Deposit Activities and Other Sources of Funds 21 Subsidiary Activities 25 Regulation 26 Taxation 34 Employees and Human Capital 35 Executive Officers 36 Item 1A.
Management s Discussion and Analysis of Financial Condition and Results of Operations: 51 General 52 Critical Accounting Estimates 52 Executive Summary and Operating Strategy 53 Comparison of Financial Condition at June 30, 2024 and 2023 54 Comparison of Operating Results for the Fiscal Years Ended June 30, 2024 and 2023 55 Average Balances, Interest and Average Yields/Costs 59 Rate/Volume Variance 60 Liquidity and Capital Resources 60 Impact of New Accounting Pronouncements 62 Item 7A.
At June 30, 2024, the Corporation had consolidated total assets of $1.27 billion, total deposits of $888.3 million and stockholders equity of $129.9 million.
The Foundation was funded with a $500,000 charitable contribution made by the Bank in the fourth quarter of fiscal 2006.
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