RIVERSIDE, Calif., June 29, 2007 (PRIME NEWSWIRE) -- Provident Financial Holdings, Inc. ("Company") (Nasdaq:PROV), the holding company for Provident Savings Bank, F.S.B. ("Bank"), announced today that the Bank appointed David Weiant as Senior Vice President and Chief Lending Officer. Mr. Weiant has more than 25 years of experience with financial institutions, including the last 10 years in senior management.
Mr. Weiant joins the Bank most recently from Professional Business Bank where he was responsible for their commercial lending efforts in the Los Angeles and Inland Empire regions of Southern California. Prior to that he was with Southwest Community Bank where he was responsible for building their Orange County and Inland Empire commercial lending teams. His experience includes commercial, construction, SBA, C&I and asset based lending.
Craig G. Blunden, chairman and chief executive officer stated, "I am pleased that David has joined our senior management team. David's prior success and vast experience will drive our future success in preferred loans, a task he is very qualified to manage."
"I am looking forward to the tremendous opportunity I see at Provident," commented Mr. Weiant. "I am familiar with many financial institutions but few community banks are so well positioned to serve their customers, even fewer have been doing so for over 50 years."
The Company is the holding company for Provident Savings Bank, F.S.B., which is a financial services company committed to serving consumers and small to mid-sized businesses in the Inland Empire region of Southern California. The Bank conducts its business operations as Provident Bank, Provident Bank Mortgage and through its subsidiary, Provident Financial Corp. Business activities consist of community banking, mortgage banking, investment services and real estate operations.
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, 2006.