PROVIDENT FINANCIAL HOLDINGS Business Summary

Provident Financial Holdings, Inc. (PROV) operates as the holding company for Provident Savings Bank, F.S.B., a federally chartered community bank serving consumers and small-to-mid-sized businesses in Southern California’s Inland Empire. The company generates revenue primarily through net interest income from a diversified loan portfolio—comprising single-family and multi-family residential, commercial real estate, construction, and commercial business loans—and non-interest income from deposit fees, investment services, and trustee services for real estate transactions. Operating through 13 full-service branches in Riverside and San Bernardino counties, PROV focuses on a relationship-based community banking model. It competes directly with regional thrifts and mortgage finance firms such as Waterstone Financial (WSBF), IF Bancorp (IROQ), and Sound Financial Bancorp (SFBC), distinguishing itself through localized decision-making and a conservative credit culture tailored to the specific economic drivers of the Inland Empire market. Founded in 1956 by Gordon A. Blunden, the company is currently led by President and CEO Donavon P. Ternes, a veteran executive who joined the firm in 2000 and served as CFO for 23 years before assuming the top leadership role in early 2024. The executive team was further solidified in May 2025 with the appointment of Peter C. Fan as Senior Vice President and CFO; Fan, a CPA with an MBA from UCLA, previously held senior finance leadership roles at Royal Business Bank and Pacific Western Bank. The board is chaired by Craig G. Blunden, the founder's son, and includes prominent regional figures such as Matthew E. Webb, CEO of Albert A. Webb Associates. PROV maintains a stable institutional investor base, with major holdings from BlackRock and The Vanguard Group, reflecting its long-standing position as a key independent financial institution in the Southern California region.