Provident Financial Holdings Announces Quarterly Cash Dividend

RIVERSIDE, Calif., Oct. 29, 2009 (GLOBE NEWSWIRE) -- Provident Financial
Holdings, Inc. ("Company"), (Nasdaq:PROV), the holding company for Provident
Savings Bank, F.S.B., today announced a quarterly cash dividend of $0.01 per
share on the Company's outstanding shares of common stock. Shareholders of the
Company's common stock at the close of business on November 20, 2009 will be
entitled to receive the cash dividend. The cash dividend will be payable on
December 16, 2009.

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, 2009.

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CONTACT: Provident Financial Holdings, Inc.
Craig G. Blunden, Chairman, President and CEO
Donavon P. Ternes, Chief Operating Officer and
Chief Financial Officer
(951) 686-6060