From EArlier Provident Financial Holdings Announces Quarterly Cash Dividend and Stock Repurchase Plan of up to 5% of Common Stock

Provident Financial Holdings PROV, the holding company for Provident Savings Bank, F.S.B., yesterday announced that the Company's Board of Directors declared a quarterly cash dividend of $0.04 per share. Shareholders of the Company's common stock at the close of business on May 11, 2012 will be entitled to receive the cash dividend. The cash dividend will be payable on June 1, 2012. Additionally, the Board of Directors authorized the repurchase of up to five percent (5%) of the Company's common stock, or approximately 547,772 shares. The repurchase plan will become effective at the earlier of July 21, 2012 or the completion of the July 2011 five percent stock repurchase plan. The Company will purchase the shares from time to time in the open market or through privately negotiated transactions over a one-year period depending on market conditions, the capital requirements of the Company, and available cash that can be allocated to the stock repurchase plan. To date, a total of 512,403 shares have been purchased under the July 2011 stock repurchase plan, at an average cost of $9.47 per share, leaving 58,529 shares available for future purchases.