Price | 17.56 | EPS | 1 | |
Shares | 9 | P/E | 16 | |
MCap | 156 | P/FCF | 20 | |
Net Debt | -48 | EBIT | 32 | |
TEV | 108 | TEV/EBIT | 3 | TTM 2019-09-30, in MM, except price, ratios |
10-Q | 2020-06-30 | Filed 2020-08-10 |
10-Q | 2020-03-31 | Filed 2020-05-11 |
10-Q | 2019-12-31 | Filed 2020-02-10 |
10-K | 2019-09-30 | Filed 2019-12-16 |
10-Q | 2019-06-30 | Filed 2019-08-09 |
10-Q | 2019-03-31 | Filed 2019-05-10 |
10-Q | 2018-12-31 | Filed 2019-02-11 |
10-K | 2018-09-30 | Filed 2018-12-14 |
10-Q | 2018-06-30 | Filed 2018-08-09 |
10-Q | 2018-03-31 | Filed 2018-05-10 |
10-Q | 2017-12-31 | Filed 2018-02-09 |
10-K | 2017-09-30 | Filed 2017-12-14 |
10-Q | 2017-06-30 | Filed 2017-08-09 |
10-Q | 2017-03-31 | Filed 2017-05-10 |
10-Q | 2016-12-31 | Filed 2017-02-09 |
10-K | 2016-09-30 | Filed 2016-12-14 |
10-Q | 2016-06-30 | Filed 2016-08-09 |
10-Q | 2016-03-31 | Filed 2016-05-10 |
10-Q | 2015-12-31 | Filed 2016-02-09 |
10-K | 2015-09-30 | Filed 2015-12-14 |
10-Q | 2015-06-30 | Filed 2015-08-10 |
10-Q | 2015-03-31 | Filed 2015-05-11 |
10-Q | 2014-12-31 | Filed 2015-02-09 |
10-K | 2014-09-30 | Filed 2014-12-15 |
10-Q | 2014-06-30 | Filed 2014-08-14 |
10-Q | 2014-03-31 | Filed 2014-05-15 |
10-Q | 2013-12-31 | Filed 2014-02-14 |
10-K | 2013-09-30 | Filed 2013-12-20 |
10-Q | 2013-06-30 | Filed 2013-09-25 |
8-K | 2020-11-18 | Regulation FD |
8-K | 2020-11-16 | Earnings |
8-K | 2020-09-29 | Regulation FD |
8-K | 2020-08-19 | Regulation FD |
8-K | 2020-07-20 | Earnings |
8-K | 2020-07-15 | Exhibits |
8-K | 2020-06-18 | |
8-K | 2020-05-20 | |
8-K | 2020-04-17 | |
8-K | 2020-02-19 | |
8-K | 2020-02-19 | |
8-K | 2020-02-19 | |
8-K | 2020-01-17 | |
8-K | 2019-12-18 | |
8-K | 2019-11-20 | |
8-K | 2019-11-15 | |
8-K | 2019-08-21 | |
8-K | 2019-07-19 | |
8-K | 2019-06-19 | |
8-K | 2019-05-15 | |
8-K | 2019-04-19 | |
8-K | 2019-02-20 | |
8-K | 2019-02-20 | |
8-K | 2019-02-20 | |
8-K | 2019-01-25 | |
8-K | 2019-01-18 | |
8-K | 2018-11-30 | |
8-K | 2018-11-19 | |
8-K | 2018-08-15 | |
8-K | 2018-07-20 | |
8-K | 2018-05-16 | |
8-K | 2018-04-26 | |
8-K | 2018-03-26 | |
8-K | 2018-02-21 | |
8-K | 2018-02-21 | |
8-K | 2018-02-21 | |
8-K | 2018-01-23 |
Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations |
Item 3. Quantitative and Qualitative Disclosures About Market Risk |
Item 4. Controls and Procedures |
Part II |
Item 1. Legal Proceedings |
Item 1A. Risk Factors |
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds |
Item 3. Defaults Upon Senior Securities |
Item 4. Mine Safety Disclosures |
Item 5. Other Information |
Item 6. Exhibits |
EX-31.1 | pbip-20200630xex31d1.htm |
EX-31.2 | pbip-20200630xex31d2.htm |
EX-32.0 | pbip-20200630xex32d0.htm |
Balance Sheet | Income Statement | Cash Flow |
---|---|---|
Assets, Equity
|
Rev, G Profit, Net Income
|
Ops, Inv, Fin
|
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 20549
FORM
(Mark One)
QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |
For the quarterly period ended | |
OR | |
TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 | |
For the transition period from to | |
Commission file number: |
.
(Exact Name of Registrant as Specified in Its Charter)
(State or Other Jurisdiction of Incorporation or Organization) | (I.R.S. Employer Identification No.) |
(Address of Principal Executive Offices) | (Zip Code) |
(
(Registrant’s Telephone Number, Including Area Code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each Class | Trading Symbol(s) | Name of each exchange on which registered |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Large accelerated filer ☐ | ||
Non-accelerated filer ☐ | Smaller reporting company | |
Emerging growth company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act).
Yes
Indicate the number of shares outstanding of each of the issuer’s classes of common stock as of the latest practical date: as of July 31, 2020, 10,819,006 shares were issued and
PRUDENTIAL BANCORP, INC. AND SUBSIDIARIES
TABLE OF CONTENTS
Page | |||
PART I | FINANCIAL INFORMATION: | ||
Item 1. | Consolidated Financial Statements | ||
Unaudited Consolidated Statements of Financial Condition June 30, 2020 and September 30, 2019 | 3 | ||
4 | |||
5 | |||
6 | |||
Unaudited Consolidated Statements of Cash Flows for the Nine Months Ended June 30, 2020 and 2019 | 8 | ||
10 | |||
Management’s Discussion and Analysis of Financial Condition and Results of Operations | 37 | ||
50 | |||
50 | |||
PART II | OTHER INFORMATION | ||
51 | |||
52 | |||
53 | |||
54 | |||
54 | |||
54 | |||
54 | |||
55 |
2
PRUDENTIAL BANCORP, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF FINANCIAL CONDITION
June 30, | September 30, | ||||||
| 2020 |
| 2019 | ||||
(Dollars in Thousands) | |||||||
ASSETS |
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Cash and amounts due from depository institutions | $ | | $ | | |||
Interest-bearing deposits |
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Total cash and cash equivalents |
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Certificates of deposit |
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Investment and mortgage-backed securities available for sale at fair value |
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Investment and mortgage-backed securities held to maturity (fair value—June 30, 2020, $ |
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Equity securities | | | |||||
Loans held for sale | | — | |||||
Loans receivable—net of allowance for loan losses (June 30, 2020, $ |
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Accrued interest receivable |
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Real estate owned |
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Restricted bank stock—at cost |
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Office properties and equipment—net |
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Bank owned life insurance (BOLI) |
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Deferred income taxes, net |
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Goodwill |
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Core deposit intangible |
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Prepaid expenses and other assets |
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TOTAL ASSETS | $ | | $ | | |||
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LIABILITIES AND STOCKHOLDERS’ EQUITY |
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LIABILITIES: |
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Deposits: |
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Non-interest-bearing | $ | | $ | | |||
Interest-bearing |
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Total deposits |
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Advances from Federal Home Loan Bank - Short Term |
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Advances from Federal Home Loan Bank - Long Term |
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Accrued interest payable |
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Advances from borrowers for taxes and insurance |
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Accounts payable and accrued expenses |
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Total liabilities |
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STOCKHOLDERS’ EQUITY: |
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Preferred stock, $ |
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Common stock, $ |
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Additional paid-in capital |
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Treasury stock, at cost: |
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Retained earnings |
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Accumulated other comprehensive (loss) income |
| ( |
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Total stockholders’ equity |
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TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY | $ | | $ | |
See notes to unaudited consolidated financial statements.
3
PRUDENTIAL BANCORP, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS
Three Months Ended | Nine Months Ended | ||||||||||||
| June 30, | June 30, | |||||||||||
| 2020 |
| 2019 | 2020 |
| 2019 | |||||||
INTEREST INCOME: | |||||||||||||
Interest and fees on loans | $ | | $ | | $ | | $ | | |||||
Interest on mortgage-backed securities |
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Interest and dividends on investments |
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Interest on interest-bearing deposits |
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Total interest income |
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INTEREST EXPENSE: |
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Interest on deposits |
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Interest on advances from FHLB - short term |
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Interest on advances from FHLB - long term |
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Total interest expense |
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NET INTEREST INCOME |
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PROVISION FOR LOAN LOSSES |
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| — |
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NET INTEREST INCOME AFTER PROVISION FOR LOAN LOSSES |
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NON-INTEREST INCOME: |
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Fees and other service charges |
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Gain on sale of mortgage-backed securities available for sale |
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Holding gain (loss) on equity securities |
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Gain on sale of loans |
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Swap income (loss) |
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Earnings from bank owned life insurance |
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Other |
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Total non-interest income |
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NON-INTEREST EXPENSES: |
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Salaries and employee benefits |
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Data processing |
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Professional services |
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Office occupancy |
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Depreciation |
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Director compensation |
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Federal Deposit Insurance Corporation deposit insurance premiums |
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Real estate owned expense |
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| — |
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Advertising |
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Core deposit amortization |
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Other |
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Total non-interest expenses |
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INCOME BEFORE INCOME TAXES |
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INCOME TAXES: |
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Current |
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Deferred (benefit) expense |
| ( |
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| ( | |||||
Total income tax expense |
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NET INCOME | $ | | $ | | $ | | $ | | |||||
BASIC EARNINGS PER SHARE | $ | | $ | | $ | | $ | | |||||
DILUTED EARNINGS PER SHARE | $ | | $ | | $ | | $ | | |||||
DIVIDENDS PER SHARE | $ | | $ | | $ | | $ | |
See notes to unaudited consolidated financial statements.
4
PRUDENTIAL BANCORP, INC. AND SUBSIDIARIES
UNAUDITED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
| Three Months Ended June 30, | Nine Months Ended June 30, | |||||||||||
|
| 2020 |
| 2019 | 2020 |
| 2019 | ||||||
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Net income | $ | | $ | | $ | | $ | | |||||
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Unrealized holding gain on available-for-sale securities | | | | | |||||||||
Tax effect | ( | ( | ( | ( | |||||||||
Unrealized holding loss on interest rate swaps |
| ( |
| ( |
| ( |
| ( | |||||
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