Provident Financial Holdings, Inc. reported unaudited consolidated earnings results for second quarter and six months ended December 31, 2015. For the quarter, the Company reported net income of $982,000, or $0.11 per diluted share, down from net income of $2.33 million, or $0.25 per diluted share, in the comparable period a year ago. The decrease in net income for the second quarter of fiscal 2016 was primarily attributable to decreases in net interest income and non-interest income, partly offset by a decrease in the provision for income taxes, compared to the same period one year ago. Return on average assets for the second quarter of fiscal 2016 decreased to 0.34% from 0.84% for the same period of fiscal 2015 while return on average stockholders' equity for the second quarter of fiscal 2016 decreased to 2.83% from 6.42% for the comparable period of fiscal 2015. Net interest income decreased $521,000, or 6%, to $7.59 million in the second quarter of fiscal 2016 from $8.11 million for the same quarter of fiscal 2015, attributable to a decrease in the net interest margin, partly offset by a higher average earning assets balance. Income before tax was $1.7 million against $4.0 million a year ago.

For the six months ended December 31, 2015, net income decreased $1.29 million, or 27%, to $3.43 million from $4.72 million in the comparable period ended December 31, 2014; and diluted earnings per share for the six months ended December 31, 2015 decreased $0.11, or 22%, to $0.39 from $0.50 for the comparable six month period last year. Return on average assets was 0.58% against 0.85% a year ago. Return on average stockholders' equity was 4.91% against 6.50% a year ago. Net interest income was $15.7 million against $16.0 million a year ago. Income before tax was $5.9 million against $8.2 million a year ago.