Exhibit 99.1


3756 Central Avenue


Riverside, CA 92506

(951) 686-6060



The Company Reports Net Income of $3.34 Million in the June 2021 Quarter

Loans Held for Investment Increase 1% from March 31, 2021 to $851.0 Million

Total Deposits Increase 5% from June 30, 2020 to $938.0 Million

Improved Asset Quality with a $767,000 Recovery from the Allowance for Loan Losses

Non-Interest Expenses Remain Well-Controlled

Riverside, Calif. – July 28, 2021 – Provident Financial Holdings, Inc. (“Company”), NASDAQ GS: PROV, the holding company for Provident Savings Bank, F.S.B. (“Bank”), today announced fourth quarter and full year earnings results for the fiscal year ended June 30, 2021.

For the quarter ended June 30, 2021, the Company reported net income of $3.34 million, or $0.44 per diluted share (on 7.59 million average diluted shares outstanding), up 111 percent from net income of $1.58 million, or $0.21 per diluted share (on 7.49 million average diluted shares outstanding), in the comparable period a year ago. Compared to the same quarter last year, the increase in earnings was primarily attributable to a $1.22 million improvement in the provision for loan losses to a recovery from a provision for loan losses and a $1.68 million decrease in non-interest expenses (mainly, lower salaries and employee benefits expenses), partly offset by lower net interest income.

“I am pleased that general economic conditions are improving and the United States is making progress in its fight against the COVID-19 pandemic,” said Craig G. Blunden, Chairman and Chief Executive Officer of the Company.  “We believe Provident is well-positioned to benefit from improving conditions and I am confident that our strong financial foundation will allow us to capitalize on future opportunities as they develop,” said Mr. Blunden.

Return on average assets for the fourth quarter of fiscal 2021 was 1.12 percent, up from 0.55 percent for the same period of fiscal 2020; and return on average stockholders’ equity for the fourth quarter of fiscal 2021 was 10.65 percent, up from 5.14 percent for the comparable period of fiscal 2020.


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The following information was filed by Provident Financial Holdings Inc (PROV) on Wednesday, July 28, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-K Annual Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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