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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Provident Financial Holdings Inc | NASDAQ:PROV | NASDAQ | Common Stock |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 12.80 | 12.51 | 12.79 | 227 | 18:41:09 |
Mr. Blunden commented, “Management succession is a significant responsibility of the Board of Directors and reflects many years of thoughtful consideration about the future leadership of Provident. Donavon has been with Provident for 23 years, holding key leadership positions, including the last 12 as President of the Company and Bank in addition to his other duties and responsibilities. We are confident that Provident, with Donavon’s leadership and the remarkable abilities of his colleagues, will continue our community banking focus which is conservative, and easily understood, and has served our local customers and communities very well. Donavon understands and embraces the fact that we are a true community bank.” Mr. Blunden went on to say, “It has been my privilege to serve Provident for over 49 years and I look forward to continuing my association with Provident as non-executive Chairman.”
Mr. Ternes commented, “It is hard to overstate Craig’s achievements with Provident over his 49-year career including his instrumental role in connection with the conversion from a federally chartered mutual savings bank to a federally chartered capital stock savings bank and the simultaneous issuance of common stock in the public offering in June 1996. Just as important, Craig has an extensive background of community service in the Inland Empire and has served on several boards and committees in the financial services industry. Perhaps most distinguished was his appointment by the Federal Reserve Board to a two-year term on the Thrift Institutions Advisory Council in Washington, D.C., and his election by banking industry colleagues to the board of directors of the Federal Home Loan Bank of San Francisco where he served for 16 years. His steady leadership and dedication have served our constituencies well, and I am pleased that his wisdom and insight will be retained as he fulfills his duties as non-executive Chairman.” Mr. Ternes continued, “I appreciate the Board’s confidence in me to lead Provident and I’m proud to be part of our 67-year history.”
About Provident
With over $1.3 billion in total assets and 13 retail banking centers, Provident is the largest independent community bank headquartered in Riverside County, California, and has been serving the financial needs of its community since 1956. Provident’s community banking operations primarily consist of accepting deposits from customers and businesses within the communities surrounding its full-service offices and investing those funds in single-family, multi-family, commercial real estate, construction, commercial business, consumer, and other loans.
Safe-Harbor Statement
Certain matters in this News Release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These forward-looking statements may relate to, among others, expectations of the business environment in which the Company operates, projections of future performance, perceived opportunities in the market, potential future credit experience, and statements regarding the Company’s mission and vision. These forward-looking statements are based upon current management expectations, and may, therefore, involve risks and uncertainties. The Company’s actual results, performance, or achievements may differ materially from those suggested, expressed, or implied by forward-looking statements as a result of a wide range of factors including, but not limited to, the general business environment, interest rates, the California real estate market, competitive conditions between banks and non-bank financial services providers, regulatory changes, and other risks detailed in the Company’s reports filed with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended June 30, 2023.
Contact: | Craig G. Blunden | Donavon P. Ternes |
Chairman and | President, Chief Operating Officer, | |
Chief Executive Officer | and Chief Financial Officer |
1 Year Provident Financial Chart |
1 Month Provident Financial Chart |
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