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    Frank WilliamsPiper Sandler Companies

    Frank Williams is an Assistant Vice President and Equity Research Analyst at Piper Sandler Companies, specializing in equity research within the financial sector. At Piper Sandler, he plays a key role in analyzing and providing insights on public companies, enabling institutional investors to make data-driven decisions, though specific company names he covers and detailed performance metrics are not publicly available. Williams began his financial career prior to joining Piper Sandler and has progressively advanced to his current AVP position, reflecting steady professional growth. He holds relevant industry credentials for research analysts, including FINRA registration and securities licenses, demonstrating compliance with industry standards and regulatory requirements.

    Frank Williams's questions to Provident Financial Holdings Inc (PROV) leadership

    Frank Williams's questions to Provident Financial Holdings Inc (PROV) leadership • Q4 2025

    Question

    Frank Williams of Piper Sandler Companies inquired about the impact of increased prepayments on Provident's portfolio mix and whether the company is shifting its origination strategy to offset the runoff. He also asked about the expense outlook and if management targets a specific efficiency ratio, such as returning to sub-70% levels seen in fiscal 2024.

    Answer

    President & CEO Donavon Ternes explained that while the preferred mix is 50/50 between single-family and multifamily loans, the company is flexible to meet volume goals and is not "married to a straight mix." Regarding expenses, Ternes stated that improving the efficiency ratio is dependent on loan portfolio growth. He noted the current expense base can support future growth, which will naturally lower the efficiency ratio over time as the balance sheet expands.

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