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| /s/ Craig G. Blunden |
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|                                                                                            |   | At or For The Year Ended June 30, |         |
|-------------------------------------------------------------------------------------------------|--------|-----------------------------------|--------------|
|                                                                                            |   | 2011                              |         |   | 2010 |   |   | 2009 |   |   | 2008 |   |   | 2007 |   |
| (In Thousands, Except Per Share Information )                                                   |   |                              |         |   |   |   |   |   |   |   |   |   |   |
|                                                                                            |   |                              |         |   |   |   |   |   |   |   |   |   |   |   |   |
| FINANCIAL CONDITION DATA:                                                                       |   |                              |         |   |   |   |   |   |   |   |   |   |   |   |   |
| Total assets                                                                                    |   | $                                 | 1,314,549    |   |   | $ | 1,399,401 |   |   | $ | 1,579,613 |   |   | $ | 1,632,447 |   |   | $ | 1,648,923 |   |
| Loans held for investment, net .                                                                |   |                              | 881,610      |   |   |   | 1,006,260 |   |   |   | 1,165,529 |   |   |   | 1,368,137 |   |   |   | 1,350,696 |   |
| Loans held for sale, at fair value                                                              |   |                              | 191,678      |   |   |   | 170,255 |   |   |   | 135,490 |   |   |   | - |   |   |   | - |   |
| Loans held for sale, at lower of cost or  market                                      |   |                              |  -      |   |   |   |  - |   |   |   |  10,555 |   |   |   | 28,461 |   |   |   | 1,337 |   |
| Receivable from sale of loans                                                                   |   |                              | -            |   |   |   | - |   |   |   | - |   |   |   | - |   |   |   | 60,513 |   |
| Cash and cash equivalents                                                                       |   |                              | 142,550      |   |   |   | 96,201 |   |   |   | 56,903 |   |   |   | 15,114 |   |   |   | 12,824 |   |
| Investment securities                                                                           |   |                              | 26,193       |   |   |   | 35,003 |   |   |   | 125,279 |   |   |   | 153,102 |   |   |   | 150,843 |   |
| Deposits                                                                                        |   |                              | 945,767      |   |   |   | 932,933 |   |   |   | 989,245 |   |   |   | 1,012,410 |   |   |   | 1,001,397 |   |
| Borrowings                                                                                      |   |                              | 206,598      |   |   |   | 309,647 |   |   |   | 456,692 |   |   |   | 479,335 |   |   |   | 502,774 |   |
| Stockholders’ equity                                                                      |   |                              | 141,743      |   |   |   | 127,744 |   |   |   | 114,910 |   |   |   | 123,980 |   |   |   | 128,797 |   |
| Book value per share                                                                            |   |                              | 12.41        |   |   |   | 11.20 |   |   |   | 18.48 |   |   |   | 19.97 |   |   |   | 20.20 |   |
|                                                                                            |   |                              |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| OPERATING DATA:                                                                                 |   |                              |         |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Interest income                                                                                 |   | $                                 | 58,689       |   |   | $ | 70,163 |   |   | $ | 85,924 |   |   | $ | 95,749 |   |   | $ | 100,968 |   |
| Interest expense                                                                                |   |                              | 20,940       |   |   |   | 30,585 |   |   |   | 42,156 |   |   |   | 54,313 |   |   |   | 59,245 |   |
| Net interest income                                                                             |   |                              | 37,749       |   |   |   | 39,578 |   |   |   | 43,768 |   |   |   | 41,436 |   |   |   | 41,723 |   |
| Provision for loan losses                                                                       |   |                              | 5,465        |   |   |   | 21,843 |   |   |   | 48,672 |   |   |   | 13,108 |   |   |   | 5,078 |   |
| Net interest income (expense) after  provision                                        |   |                              |  32,284 |   |   |   |  17,735 |   |   |   | (4,904 | ) |   |   | 28,328 |   |   |   | 36,645 |   |
| Loan servicing and other fees                                                                   |   |                              | 892          |   |   |   | 797 |   |   |   | 869 |   |   |   | 1,776 |   |   |   | 2,132 |   |
| Gain on sale of loans, net                                                                      |   |                              | 31,194       |   |   |   | 14,338 |   |   |   | 16,971 |   |   |   | 1,004 |   |   |   | 9,318 |   |
| Deposit account fees                                                                            |   |                              | 2,504        |   |   |   | 2,823 |   |   |   | 2,899 |   |   |   | 2,954 |   |   |   | 2,087 |   |
| Net gain on sale of investment securities                                                       |   |                              | -            |   |   |   | 2,290 |   |   |   | 356 |   |   |   | - |   |   |   | - |   |
| Net gain on sale of real estate held for     investment                          |   |                              |  -      |   |   |   |  - |   |   |   |  - |   |   |   |  - |   |   |   |  2,313 |   |
| (Loss) gain on sale and operations ofreal estate owned acquired in the settlement of loans, net |   |                              | (1,351       | ) |   |   |  16 |   |   |   | (2,469 | ) |   |   | (2,683 | ) |   |   | (117 | ) |
| Gain on sale of premises and equipment                                                          |   |                              | 1,089        |   |   |   | - |   |   |   | - |   |   |   | 6 |   |   |   | - |   |
| Card and processing fees                                                                        |   |                              | 1,274        |   |   |   | 1,110 |   |   |   | 825 |   |   |   | 574 |   |   |   | 566 |   |
| Other non-interest income                                                                       |   |                              | 755          |   |   |   | 885 |   |   |   | 758 |   |   |   | 1,580 |   |   |   | 1,262 |   |
| Operating expenses                                                                              |   |                              | 45,372       |   |   |   | 38,139 |   |   |   | 29,980 |   |   |   | 30,311 |   |   |   | 34,631 |   |
| Income (loss) before income taxes                                                               |   |                              | 23,269       |   |   |   | 1,855 |   |   |   | (14,675 | ) |   |   | 3,228 |   |   |   | 19,575 |   |
| Provision (benefit) for income taxes                                                            |   |                              | 10,049       |   |   |   | 740 |   |   |   | (7,236 | ) |   |   | 2,368 |   |   |   | 9,124 |   |
| Net income (loss)                                                                               |   | $                                 | 13,220       |   |   | $ | 1,115 |   |   | $ | (7,439 | ) |   | $ | 860 |   |   | $ | 10,451 |   |
| Basic earnings (loss) per share                                                                 |   | $                                 | 1.16         |   |   | $ | 0.13 |   |   | $ | (1.20 | ) |   | $ | 0.14 |   |   | $ | 1.59 |   |
| Diluted earnings (loss) per share                                                               |   | $                                 | 1.16         |   |   | $ | 0.13 |   |   | $ | (1.20 | ) |   | $ | 0.14 |   |   | $ | 1.57 |   |
| Cash dividend per share                                                                         |   | $                                 | 0.04         |   |   | $ | 0.04 |   |   | $ | 0.16 |   |   | $ | 0.64 |   |   | $ | 0.69 |   |

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|                                                                                                              |   | At or For The Year Ended June 30, |   |
|-------------------------------------------------------------------------------------------------------------------|--------|-----------------------------------|--------|
|                                                                                                              |   | 2011                              |   |   | 2010 |   |   | 2009 |   |   | 2008 |   |   | 2007 |   |
|                                                                                                              |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| KEY OPERATING RATIOS:                                                                                             |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                                                                              |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Performance Ratios                                                                                                |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Return (loss) on average assets                                                                      |   |                              | 0.97   | % |   |   | 0.08 | % |   |   | (0.47 | )% |   |   | 0.05 | % |   |   | 0.61 | % |
|    Return (loss) on average stockholders’ equity                                                  |   |                              | 9.74   |   |   |   | 0.94 |   |   |   | (6.20 | ) |   |   | 0.68 |   |   |   | 7.77 |   |
|    Interest rate spread                                                                                 |   |                              | 2.76   |   |   |   | 2.71 |   |   |   | 2.68 |   |   |   | 2.36 |   |   |   | 2.23 |   |
|    Net interest margin                                                                                  |   |                              | 2.90   |   |   |   | 2.83 |   |   |   | 2.86 |   |   |   | 2.61 |   |   |   | 2.51 |   |
|    Average interest-earning assets to    average interest-bearing liabilities       |   |                              | 108.31 |   |   |   | 105.68 |   |   |   | 106.62 |   |   |   | 107.35 |   |   |   | 107.72 |   |
|    Operating and administrative expenses    as a percentage of average total assets |   |                              | 3.33   |   |   |   | 2.61 |   |   |   | 1.90 |   |   |   | 1.87 |   |   |   | 2.03 |   |
|    Efficiency ratio (1)                                                                                 |   |                              | 61.23  |   |   |   | 61.68 |   |   |   | 46.86 |   |   |   | 64.98 |   |   |   | 58.42 |   |
|    Stockholders’ equity to total assets ratio                                                     |   |                              | 10.78  |   |   |   | 9.13 |   |   |   | 7.27 |   |   |   | 7.59 |   |   |   | 7.81 |   |
|    Dividend payout ratio                                                                                |   |                              | 3.45   |   |   |   | 30.77 |   |   | NM |   |   |   | 457.14 |   |   |   | 43.95 |   |
|                                                                                                              |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Regulatory Capital Ratios                                                                                         |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Tangible capital                                                                                     |   |                              | 10.53  | % |   |   | 8.82 | % |   |   | 6.88 | % |   |   | 7.19 | % |   |   | 7.62 | % |
|    Core capital                                                                                         |   |                              | 10.53  |   |   |   | 8.82 |   |   |   | 6.88 |   |   |   | 7.19 |   |   |   | 7.62 |   |
|    Total risk-based capital                                                                             |   |                              | 17.56  |   |   |   | 13.17 |   |   |   | 13.05 |   |   |   | 12.25 |   |   |   | 12.49 |   |
|    Tier 1 risk-based capital                                                                            |   |                              | 16.30  |   |   |   | 11.91 |   |   |   | 11.78 |   |   |   | 10.99 |   |   |   | 11.39 |   |
|                                                                                                              |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Asset Quality Ratios                                                                                              |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
|    Non-performing loans as a percentage    of loans held for investment, net        |   |                              | 4.21   | % |   |   | 5.84 | % |   |   | 6.16 | % |   |   | 1.70 | % |   |   | 1.18 | % |
|    Non-performing assets as a percentage    of total assets                         |   |                              | 3.46   |   |   |   | 5.25 |   |   |   | 5.59 |   |   |   | 1.99 |   |   |   | 1.20 |   |
|    Allowance for loan losses as a percentage    of gross loans held for investment  |   |                              | 3.34   |   |   |   | 4.14 |   |   |   | 3.75 |   |   |   | 1.43 |   |   |   | 1.09 |   |
|    Allowance for loan losses as a percentage    of gross non-performing loans       |   |                              | 59.49  |   |   |   | 56.78 |   |   |   | 46.77 |   |   |   | 67.01 |   |   |   | 77.19 |   |
|    Net charge-offs to average loans receivable, net                                                     |   |                              | 1.67   |   |   |   | 1.96 |   |   |   | 1.72 |   |   |   | 0.58 |   |   |   | 0.04 |   |
|                                                                                                              |   |                              |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |

| (1)   | Non-interest expense as a percentage of net interest income, before provision for loan losses, and non-interest income. |
|-----------------|-------------------------------------------------------------------------------------------------------------------------|

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| Board of Directors                      |   | Senior Officers                    |
|-----------------------------------------|--------|------------------------------------|
|                                    |   |                               |
| Joseph P. Barr, CPA                     |   | Provident Financial Holdings, Inc. |
| Principal                               |   |                               |
| Swenson Accountancy Corporation         |   | Craig G. Blunden                   |
|                                    |   | Chairman                           |
| Bruce W. Bennett                        |   | Chief Executive Officer            |
| Retired Health Care Executive           |   |                               |
| Private Investor                        |   | Donavon P. Ternes                  |
|                                    |   | President                          |
| Craig G. Blunden                        |   | Chief Operating Officer            |
| Chairman and Chief Executive Officer    |   | Chief Financial Officer            |
| Provident Bank                          |   | Corporate Secretary                |
|                                    |   |                               |
| Debbi H. Guthrie                        |   | Provident Bank                     |
| Retired Business Owner                  |   |                               |
| Private Investor                        |   | Craig G. Blunden                   |
|                                    |   | Chairman                           |
| Robert G. Schrader                      |   | Chief Executive Officer            |
| Retired Executive Vice President        |   |                               |
|   and Chief Operating Officer |   | Richard L. Gale                    |
| Provident Bank                          |   | Senior Vice President              |
|                                    |   | Provident Bank Mortgage            |
| Roy H. Taylor                           |   |                               |
| Chief Executive Officer                 |   | Kathryn R. Gonzales                |
| Hub International of California         |   | Senior Vice President              |
| Insurance Services, Inc.                |   | Retail Banking                     |
|                                    |   |                               |
| William E. Thomas, Esq.                 |   | Lilian Salter                      |
| Principal                               |   | Senior Vice President              |
| William E. Thomas, Inc.,                |   | Chief Information Officer          |
| A Professional Law Corporation          |   |                               |
|                                    |   | Donavon P. Ternes                  |
|                                    |   | President                          |
|                                    |   | Chief Operating Officer            |
|                                    |   | Chief Financial Officer            |
|                                    |   | Corporate Secretary                |
|                                    |   |                               |
|                                    |   | David S. Weiant                    |
|                                    |   | Senior Vice President              |
|                                    |   | Chief Lending Officer              |

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|                                                       |   |                                    |
|------------------------------------------------------------|--------|-----------------------------------------|
|                                                       |   |                                    |
| RETAIL BANKING CENTERS                                     |   | WHOLESALE MORTGAGE OFFICES              |
|                                                       |   |                                    |
| Blythe                                                     |   | Pleasanton                              |
| 350 E. Hobson Way                                          |   | 5934 Gibraltar Drive, Suite 102         |
| Blythe, CA 92225                                           |   | Pleasanton, CA 94588                    |
|                                                       |   |                                    |
| Canyon Crest                                               |   | Rancho Cucamonga                        |
| 5225 Canyon Crest Drive, Suite 86                          |   | 10370 Commerce Center Drive, Suite 200  |
| Riverside, CA 92507                                        |   | Rancho Cucamonga, CA 91730              |
|                                                       |   |                                    |
| Corona                                                     |   |                                    |
| 487 Magnolia Avenue, Suite 101                             |   | RETAIL MORTGAGE OFFICES                 |
| Corona, CA 92879                                           |   |                                    |
|                                                       |   | City of Industry                        |
| Corporate Office                                           |   | 18725 East Gale Avenue, Suite 100       |
| 3756 Central Avenue                                        |   | City of Industry, CA 91748              |
| Riverside CA 92506                                         |   |                                    |
|                                                       |   | Dublin                                  |
| Downtown Business Center                                   |   | 7567 Amador Valley Boulevard, Suite 210 |
| 4001 Main Street                                           |   | Dublin CA 94568                         |
| Riverside, CA 92501                                        |   |                                    |
|                                                       |   | Escondido                               |
| Hemet                                                      |   | 362 West Mission Avenue, Suite 200      |
| 1690 E. Florida Avenue                                     |   | Escondido, CA 92025                     |
| Hemet, CA 92544                                            |   |                                    |
|                                                       |   | Glendora                                |
| Iris Plaza                                                 |   | 1200 E. Route 66, Suite 102             |
| 16110 Perris Boulevard, Suite K                            |   | Glendora, CA 91740                      |
| Moreno Valley, CA 92551                                    |   |                                    |
|                                                       |   | Hermosa Beach                           |
| La Sierra                                                  |   | 1601 Pacific Coast Hwy, Suite 290       |
| 3312 La Sierra Avenue, Suite 105                           |   | Hermosa Beach, CA 90254                 |
| Riverside, CA 92503                                        |   |                                    |
|                                                       |   | Rancho Cucamonga                        |
| Moreno Valley                                              |   | 8599 Haven Avenue, Suite 210            |
| 12460 Heacock Street                                       |   | Rancho Cucamonga, CA 91730              |
| Moreno Valley, CA 92553                                    |   |                                    |
|                                                       |   | Riverside, Canyon Crest Drive           |
| Orangecrest                                                |   | 5225 Canyon Crest Drive, Suite 86       |
| 19348 Van Buren Boulevard, Suite 119                       |   | Riverside, CA 92507                     |
| Riverside, CA 92508                                        |   |                                    |
|                                                       |   | Riverside, Indiana Avenue               |
| Rancho Mirage                                              |   | 7111 Indiana Avenue, Suite 200          |
| 71-991 Highway 111                                         |   | Riverside, CA 92504                     |
| Ranch Mirage, CA 92270                                     |   |                                    |
|                                                       |   | Riverside, Market Street                |
| Redlands                                                   |   | 2280 Market Street, Suite 230           |
| 125 E. Citrus Avenue                                       |   | Riverside, CA 92501                     |
| Redlands, CA 92373                                         |   |                                    |
|                                                       |   | Riverside, Riverside Avenue             |
| Sun City                                                   |   | 6529 Riverside Avenue, Suite 160        |
| 27010 Sun City Boulevard                                   |   | Riverside, CA 92506                     |
| Sun City, CA 92586                                         |   |                                    |
|                                                       |   |                                    |
| Temecula                                                   |   |                                    |
| 40705 Winchester Road, Suite 6                             |   |                                    |
| Temecula, CA 92591                                         |   |                                    |
|                                                       |   |                                    |
| Customer Information 1-800-442-5201 or www.myprovident.com |

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