Provident Financial abandons mortgage banking

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[Update: An earlier version of this article contained comments from a closed Facebook community. Those comments were removed as well as accompanying text.] Provident Financial Holdings announced its.

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RIVERSIDE, Calif., Feb. 04, 2019 (GLOBE NEWSWIRE) — Provident Financial Holdings, Inc. (“Company”), NASDAQ GS: PROV, the holding company for Provident Savings Bank, F.S.B. (“Bank”), today announced that the Board of Directors determined that it was in the long-term best interests of the Company to discontinue the operations of its mortgage banking segment conducted through Provident.

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 · Provident Bank provides a comprehensive array of financial products and services through its network of branches throughout northern and.

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Provident Financial abandons mortgage banking. Plans to layoff 122 staffers in the coming months. February 6, 2019. Jacob Gaffney. In a released statement the firm said challenging economic and.

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Provident Financial Holdings announced its exit from mortgage banking earlier this week. In a released statement the firm said difficult economic and operating conditions made it difficult to make a profit in home loan originations. The company’s CEO also cited “required investments in expensive technology,” as another reason.

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