Riverside, California, January 23, 2025 (Globe Newswire) – Provident Financial Holdings (NASDAQ:), Inc. (Company), NASDAQ GS:Prov, the holding company for Provident Savings Bank, FSB, today announced that the Company’s Board of Directors has authorized the repurchase of up to five percent (5%) of the company’s common stock. shares, approximately 334,773 shares. Beginning January 24, 2025, the Company will purchase the shares from time to time in the open market or through privately negotiated transactions over a period of one year depending on market conditions, capital requirements of the company and the available money that can be allocated to the share repurchase program, among other considerations. Additionally, the September 2023 stock repurchase program which was extended on September 26, 2024 is canceled effective January 24, 2025. There were 21,691 remaining shares eligible for repurchase in the stock repurchase program of September 2023 which will no longer be purchased.
Safety Statement
Certain matters in this release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Future performance, perceived market opportunities, potential future experience, and statements regarding the company’s mission and vision. These forward-looking statements are based on management’s current expectations and therefore may involve risks and uncertainties. Actual results, performance or achievements of the company 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 real estate market of California, competitive conditions between banks and nonbank financial service 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 exercise put ends June 30, 2024.
Contacts:
Donavon P. Ternes
President and
General manager
Tam B. Nguyen
Senior Vice President and
Financial Director
(951) 686-6060
Source: Provident Financial Holdings, Inc.