Exhibit 99


Release Date:                                              Further Information:

IMMEDIATE RELEASE                                          David J. Bursic
January 19, 2007                                           President and CEO
                                                                   or
                                                           Pamela M. Tracy
                                                           Investor Relations
                                                           Phone: 412/364-1913


         WVS FINANCIAL CORP. ANNOUNCES INCREASED SECOND QUARTER AND SIX
        MONTHS ENDED DECEMBER 31, 2006 NET INCOME AND EARNINGS PER SHARE

      Pittsburgh,  PA -- WVS Financial Corp. (NASDAQ: WVFC), the holding company
for West View Savings Bank, today reported net income of $1,742,000 or $0.75 per
diluted  share,  for the six months  ended  December 31, 2006 as compared to net
income of $1,218,000 or $0.51 per diluted share for the same period in 2005. The
$524,000  or 43%  increase  in net income  during  the six months was  primarily
attributable  to a  $1,024,000  increase  in  net  interest  income,  which  was
partially  offset by a  $302,000  increase  in income  tax  expense,  a $102,000
decrease  in  credit   provisions  for  loan  losses,   a  $60,000  decrease  in
non-interest income and a $36,000 increase in non-interest expense. The increase
in net interest  income  resulted from the favorable  impact of higher short and
intermediate  term  market  interest  rates on the  Company's  interest  earning
assets, which more than offset higher rates paid on other short-term  borrowings
and time deposits. The increase in income tax expense was primarily attributable
to higher levels of taxable income. The decrease in the recovery for loan losses
is  primarily  due to the absence of a  reallocation  of loan loss  reserves and
lower  recoveries  on past due loans  recorded in fiscal  2005.  The decrease in
non-interest income was primarily  attributable to the absence of a $30,000 gain
recognized  on  the  sale  of  mortgage-backed   securities.   The  increase  in
non-interest  expense  was  primarily  attributable  to a  $27,000  increase  in
employee related costs.

      Net income and diluted  earnings per share for the quarter ended  December
31, 2006  totaled  $837,000  and $0.36,  respectively,  compared to $610,000 and
$0.26 for the same period in 2005.  The  $227,000 or 37%  increase in net income
was primarily  attributable to a $399,000 increase in net interest income, which
was  partially  offset by a $99,000  increase in income tax  expense,  a $45,000
decrease  in  credit   provisions  for  loan  losses,   a  $22,000  increase  in
non-interest  expense and a $6,000 decrease in non-interest income. The increase
in net interest  income  resulted from the favorable  impact of higher short and
intermediate  term  market  interest  rates on the  Company's  interest  earning
assets, which more than offset higher rates paid on other short-term  borrowings
and time  deposits.  The  increase  in income tax expense  was  attributable  to
increased  levels of taxable income.  The increase in  non-interest  expense was
primarily attributable to increases in charitable  contributions eligible for PA
tax credits.

                                  Page 4 of 7
<page>

      WVS Financial Corp. owns 100% of the outstanding common stock of West View
Savings Bank. The Savings Bank is a  Pennsylvania-chartered,  FDIC savings bank,
which conducts  business from six offices  located in the North Hills suburbs of
Pittsburgh, Pennsylvania.

                               --TABLES ATTACHED--
                                      # # #





                                  Page 5 of 7
<page>

                       WVS FINANCIAL CORP. AND SUBSIDIARY
                      SELECTED CONSOLIDATED FINANCIAL DATA
                  (Dollars in thousands except per share data)


                                            December 31,      June 30,
                                                2006            2006
                                            (Unaudited)      (Unaudited)
                                            ------------    ------------
Total assets                                $    417,477    $    421,742
Investment securities held-to-maturity           206,167         187,952
Investment securities available-for-sale             488           8,469
Mortgage-backed securities held-to-
   maturity                                      136,365         153,461
Mortgage-backed securities available-for-
   sale                                            2,279           2,292
Net loans receivable                              57,487          55,702
Deposits                                         156,726         151,713
FHLB advances: long-term                         133,579         138,579
FHLB advances: short-term                              0          23,150
Other short-term borrowings                       92,900          76,048
Equity                                            30,011          29,418
Book value per share                               12.99           12.60
Return on average assets                            0.83%           0.66%
Return on average equity                           11.82%           9.87%



                                  Page 6 of 7
<page>
                       WVS FINANCIAL CORP. AND SUBSIDIARY
                      SELECTED CONSOLIDATED OPERATING DATA
                      (In thousands except per share data)

<table>
<caption>
                                           Three Months Ended            Six Months Ended
                                              December 31,                 December 31,
                                              (Unaudited)                   (Unaudited)
                                       -------------------------    --------------------------
                                           2006          2005           2006           2005
                                       -----------   -----------    -----------    -----------

                                    <c>           <c>            <c>            <c>
Interest income                        $     6,230   $     5,293    $    12,348    $    10,133
Interest expense                             4,322         3,784          8,360          7,169
                                       -----------   -----------    -----------    -----------
Net interest income                          1,908         1,509          3,988          2,964
(Recovery) provision for loan losses             0           (45)            (9)          (111)
                                       -----------   -----------    -----------    -----------
Net interest income after
  provision for loan losses                  1,908         1,554          3,997          3,075
Non-interest income                            161           167            313            373
Non-interest expense                           890           868          1,792          1,756
                                       -----------   -----------    -----------    -----------
Income before income tax
  expense                                    1,179           853          2,518          1,692
Income taxes                                   342           243            776            474
                                       -----------   -----------    -----------    -----------

NET INCOME                             $       837   $       610    $     1,742    $     1,218
                                       ===========   ===========    ===========    ===========

EARNINGS PER SHARE:
  Basic                                $      0.36   $      0.26    $      0.75    $      0.51
  Diluted                              $      0.36   $      0.26    $      0.75    $      0.51

WEIGHTED AVERAGE SHARES OUTSTANDING:
  Basic                                  2,310,596     2,356,470      2,318,890      2,372,062
  Diluted                                2,312,838     2,359,671      2,320,980      2,375,483

</table>


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