What changed in this filing

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Item 5. Market for Registrant’s Common Equity

2020-09-04 compared with 2019-08-30 · 25 added, 17 removed, 29 unchanged (59% of the section changed)

2 unchanged sentences

is listed on the NASDAQ Global Select Market under the symbol PROV.

At June 30, 2019, there were 7,486,106 shares of common stock issued and outstanding held by

414 shareholders of record, and there were approximately 1,613 persons or entities that hold stock in nominee or “street name” accounts with brokers.

At June 30, 2020, there were 7,436,315 shares of common stock issued and

outstanding held by 422 shareholders of record, and there were approximately 1,707 persons or entities that hold stock in nominee or “street name” accounts with brokers.

The Corporation’s cash dividend payout policy is reviewed regularly by management and the Board of Directors.

The Board of directors has declared quarterly cash dividends on the Corporation’s

common stock for consecutive quarters since September 30, 2002.

On July 30, 2020, the Corporation declared a quarterly cash dividend of $0.14 per share.

The Corporation’s shareholders of record at the close of business on August 20, 2020 will

receive the cash dividend, which is payable on September 10, 2020.

Future declarations or payments of dividends will be subject to the consideration of the Corporation’s Board of Directors, which will take into account the Corporation’s financial

condition, results of operations, tax considerations, capital requirements, industry standards, legal restrictions, economic conditions and other factors, including the regulatory restrictions which affect the payment of dividends by the Bank to the

Under Delaware law, dividends may be paid either out of surplus or, if there is no surplus, out of net profits for the current fiscal year and/or the preceding fiscal year in which the dividend is declared.

The Corporation repurchases its common stock consistent with Board-approved stock repurchase plans.

During the quarter ended June 30, 2019, the Corporation purchased 28,251 shares of the Corporation’s common stock at

an average cost of $20.06 per share.

During the quarter ended June 30, 2020, the Corporation did not purchase any shares of the

Corporation’s common stock.

For the fiscal year ended June 30, 2020, the Corporation purchased 66,041 shares of the Corporation’s common stock at an average cost of $19.43 per share.

As of June 30, 2019, a total of 51,999 shares or 14

percent of the shares authorized in the April 2018 stock repurchase plan have been purchased at an average cost of $19.74 per share, leaving 321,001 shares available for future purchases.

During the quarter ended June 30, 2019, the Corporation issued 17,000 shares of common stock consistent with the exercise of certain stock options and no shares of restricted common stock vested.

The Corporation did

not purchase any shares from recipients to fund their withholding tax obligations in the fourth quarter of fiscal 2019.

For the fiscal year ended June 30, 2019, the Corporation issued 48,250 shares of common stock consistent with the exercise of certain stock options and 89,500 shares of restricted common stock vested.

The Corporation

purchased 21,071 shares at an average price of $18.28 per share from recipients to fund their withholding tax obligations in fiscal 2019.

During the quarter and fiscal year ended June 30, 2019, the Corporation did not sell any securities that were

not registered under the Securities Act of 1933.

As of June 30, 2020, no shares have been repurchased under the

April 2020 stock repurchase plan, leaving all 371,815 shares available for future purchases.

During the quarter ended June 30, 2020, the Corporation did not issue any shares of common stock from the exercise of certain stock options and no shares of restricted common stock vested.

fiscal year ended June 30, 2020, the Corporation issued 16,250 shares of common stock consistent with the exercise of certain stock options and no shares of restricted common stock vested.

During the quarter and fiscal year ended June 30, 2020, the

Corporation did not sell any securities that were not registered under the Securities Act of 1933.

The table below sets forth information regarding the Corporation’s purchases of its common stock during the fourth quarter of fiscal 2020.

16 unchanged sentences

The following graph compares the cumulative total shareholder return on the Corporation’s common stock with the cumulative total return of the Nasdaq Stock Index (U.S.

Stock) and Nasdaq Bank Index.

assumes the reinvestment of all dividends.

Stock) and Nasdaq Bank

Total return assumes the reinvestment of all dividends.

NASDAQ Stock Index

4 unchanged sentences

Selected Financial Data

The information contained under the heading “Financial Highlights” in the Corporation’s Annual Report to Shareholders included as Exhibit 13 to this Form 10-K and is incorporated herein by reference.

The information contained under the heading “Financial Highlights” in the Corporation’s Annual Report to Shareholders is included as Exhibit 13 to this Form 10-K and is incorporated herein by

This information is qualified in its entirety by the detailed information included elsewhere herein and should be read along with Item 7.

“Management’s Discussion and Analysis of Financial Condition and Results of Operations” and Item 8.

“Financial Statements and Supplementary Data” included in this Form 10-K.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 5. Market for Registrant’s Common Equity