Page 1

PROVIDENT Provident Financial Holdings , Inc. 3756 Central Avenue Riverside , CA 92506 ( 951 ) 686-6060 Exhibit 99.1 PROV NASDAQ LISTED NEWS RELEASE PROVIDENT FINANCIAL HOLDINGS REPORTS SECOND QUARTER FISCAL 2021 RESULTS The Company Reports Net Income of $ 1.18 Million in the December 2020 Quarter Loans Held for Investment Decrease 5 % from June 30 , 2020 to $ 855.1 Million Total Deposits Increase 2 % from June 30 , 2020 to $ 910.0 Million Non - Interest Expense Declines 8 % to $ 6.92 Million in the December 2020 Quarter in Comparison to the December 2019 Quarter Riverside , Calif . – January 27 , 2021 - Provident Financial Holdings , Inc. ( " Company " ) , NASDAQ GS : PROV , the holding company for Provident Savings Bank , F.S.B. ( “ Bank ” ) , today announced second quarter earnings results for the fiscal year ending June 30 , 2021 . For the quarter ended December 31 , 2020 , the Company reported net income of $ 1.18 million , or $ 0.16 per diluted share ( on 7.49 million average diluted shares outstanding ) , down from net income of $ 2.40 million , or $ 0.31 per diluted share ( on 7.66 million average diluted shares outstanding ) , in the comparable period a year ago . Compared to the same quarter last year , the decrease in earnings was primarily attributable to lower net interest income and lower non - interest income , partly offset by lower non - interest expense ( mainly , lower salaries and employee benefits expenses related to fewer employees and reduced incentive compensation ) . Page 1 of 20