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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): May 12, 2025
PROVIDENT FINANCIAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)

     
Delaware
000-28304
33-0704889
(State or other jurisdiction of
incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)

   
3756 Central Avenue, Riverside, California
92506
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code:  (951) 686-6060
Check the appropriate box below if the Form 8‑K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.
☐
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
☐
Soliciting material pursuant to Rule 14a‑12 under the Exchange Act (17 CFR 240.14a‑12)
☐
Pre-commencement communications pursuant to Rule 14d‑2(b) under the Exchange Act (17 CFR 240.14d‑2(b))
☐
Pre-commencement communications pursuant to Rule 13e‑4(c) under the Exchange Act (17 CFR 240.13e‑4(c))
Securities registered pursuant to Section 12(b) of the Act:

Title of each class
    
Trading Symbol(s)
    
Name of each exchange on which registered
Common Stock, par value $.01 per share
  
PROV
  
The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b‑2 of the Securities Exchange Act of 1934 (§240.12b‑2 of this chapter).
Emerging growth company ☐
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [  ]




Item 5.02  Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Provident Financial Holdings, Inc. (“Corporation” or “Provident”), the holding company for Provident Savings Bank, F.S.B. (“Bank” or “Provident”), announced on May 12, 2025 that Peter C. Fan has been appointed Senior Vice President, Chief Financial Officer, and Corporate Secretary of the Corporation and the Bank, effective May 12, 2025.

Mr. Fan, age 60, most recently served as Senior Vice President – Director of Finance and Treasury at Royal Business Bank a position he has held since February 2024. Prior to that, Mr. Fan was Senior Vice President – Finance at Pacific Western Bank from April 2014 to February 2024. Mr. Fan’s educational background includes a Master of Business Administration from the University of California at Los Angeles and a Bachelor of Science in Accounting from the University of Southern California.  Mr. Fan is also a Certified Public Accountant in California (Inactive).

There are no family relationships between Mr. Fan and any director or executive officer of the Company and the Bank.  Mr. Fan has not engaged in any transaction with the Company or the Bank that would be reportable as a related party transaction under the rules of the Securities and Exchange Commission.

Further information on Mr. Fan’s appointments and his background is contained in the press release that is attached as Exhibit 99.1 hereto and is incorporated herein by reference.


Item 9.01  Financial Statements and Exhibits


 (d)
Exhibits

       
 
    
 
104 
 
Cover Page Interactive Data File (embedded within the Inline XBRL document).










SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

     
Date: May 13, 2025
   
PROVIDENT FINANCIAL HOLDINGS, INC.
     
     
   
 
/s/ Donavon P. Ternes
   
Donavon P. Ternes
   
President and
   
Chief Executive Officer
   
(Principal Executive Officer)







EX-99.1 2 prov8k51225exh991.htm
Exhibit 99.1

   
   

3756 Central Avenue
NEWS RELEASE
Riverside, CA 92506
  
(951) 686-6060
  

PROVIDENT FINANCIAL HOLDINGS
ANNOUNCES CFO APPOINTMENT

Riverside, Calif. – May 12, 2025 – Provident Financial Holdings, Inc. (“Company” or “Provident”), NASDAQ GS: PROV, the holding company for Provident Savings Bank, F.S.B. (“Bank” or “Provident”), today announced that Peter C. Fan has been appointed Senior Vice President, Chief Financial Officer, and Corporate Secretary of the Company and the Bank, effective May 12, 2025.  Mr. Fan most recently served as Senior Vice President – Director of Finance and Treasury at Royal Business Bank since February 2024 and prior to that, as Senior Vice President – Finance at Pacific Western Bank from April 2014 to February 2024.

President and Chief Executive Officer Donavon P. Ternes commented, “I am pleased to announce the newest member of Provident’s senior management team and extend a warm welcome to Mr. Fan.  Peter brings a wealth of financial leadership experience – acquired throughout his banking career particularly with strategic corporate initiatives, liquidity and capital planning, asset-liability management, budgeting, and forecasting.  Peter, together with his colleagues at Provident, will continue our community banking focus which has served our local customers and communities very well for many years.”

Mr. Fan’s educational background includes a Master of Business Administration from the University of California at Los Angeles and a Bachelor of Science in Accounting from the University of Southern California.  Mr. Fan is also a Certified Public Accountant in California (Inactive).


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, 2024.


     
Contact:
Donavon P. Ternes
  
 
President and
  
 
Chief Executive Officer