<SEC-DOCUMENT>0000939057-11-000218.txt : 20110726
<SEC-HEADER>0000939057-11-000218.hdr.sgml : 20110726
<ACCEPTANCE-DATETIME>20110726162713
ACCESSION NUMBER:		0000939057-11-000218
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20110721
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
FILED AS OF DATE:		20110726
DATE AS OF CHANGE:		20110726

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PROVIDENT FINANCIAL HOLDINGS INC
		CENTRAL INDEX KEY:			0001010470
		STANDARD INDUSTRIAL CLASSIFICATION:	SAVINGS INSTITUTION, FEDERALLY CHARTERED [6035]
		IRS NUMBER:				330704889
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0630

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-28304
		FILM NUMBER:		11987708

	BUSINESS ADDRESS:	
		STREET 1:		3756 CENTRAL AVE
		CITY:			RIVERSIDE
		STATE:			CA
		ZIP:			92506
		BUSINESS PHONE:		9096866060

	MAIL ADDRESS:	
		STREET 1:		3756 CENTRAL AVENUE
		CITY:			RIVERSIDE
		STATE:			CA
		ZIP:			92506
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
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<FILENAME>k72611.htm
<DESCRIPTION>PROVIDENT FINANCIAL HOLDINGS, INC. FORM 8-K
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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">CURRENT REPORT</font></div>

<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Date of Report (Date of earliest event reported): <font style="DISPLAY: inline; FONT-WEIGHT: bold">July 21, 2011</font></font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 18pt; FONT-WEIGHT: bold">PROVIDENT FINANCIAL HOLDINGS, INC.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="center"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">3756 Central Avenue, Riverside, California</font></div>
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<font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt; FONT-WEIGHT: bold">Item 5.02&#160;&#160;Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Effective July 21, 2011, Provident Financial Holdings, Inc.&#8217;s (&#8220;Corporation&#8221;) wholly owned subsidiary, Provident Savings Bank, F.S.B. (&#8220;Bank&#8221;) and the Bank&#8217;s Board of Directors have renewed the current employment agreement with Craig G. Blunden (&#8220;Mr. Blunden&#8221;), the Chief Executive Officer of the Corporation and the Bank.&#160;&#160;The Personnel/Compensation Committee of the Board recommended and the Board of Directors determined that a renewal of Mr. Blunden&#8217;s employment agreement was necessary to assure continuity of leadership and account for modifications to the organizational structure of the Corporation and Bank from the time that the employment agreement was first approved.&#160;&#160;The agreement has a term of three years and may be extended as recommended by the Personnel/Compensation Committee and authorized by the Board.&#160;&#160;The agreement provides for a base salary of $385,000 per year, unchanged from Mr. Blunden&#8217;s current salary, which is subject to ongoing review by the Bank&#8217;s Personnel/Compensation Committee of the Board and provides that Mr. Blunden will serve as the Chief Executive Officer of the Bank and provide services to the Corporation and its subsidiaries.&#160;&#160;No other material changes were made to the existing terms and conditions of the employment agreement.</font></div>

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<div style="TEXT-INDENT: 36pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt">Also, on July 21, 2011, the Board of Directors of the Bank approved the following cash award payments to the Bank&#8217;s executive officers:&#160;&#160;Craig G. Blunden, Chairman and Chief Executive Officer, $150,000; Richard L. Gale, Senior Vice President-Mortgage Banking, $600,000; Kathryn R. Gonzales, Senior Vice President-Retail Banking, $40,000; Lilian Salter, Senior Vice President-Chief Information Officer, $35,000; Donavon P. Ternes, President, Chief Operating Officer and Chief Financial Officer, $100,000; and David S. Weiant, Senior Vice President and Chief Lending Officer, $40,000.&#160;&#160;The cash awards were recommended by the Bank&#8217;s Personnel/Compensation Committee of the Board, and approved by the Board of Directors as a result of the Bank&#8217;s significantly improved financial performance for fiscal 2011.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block; MARGIN-LEFT: 0pt; MARGIN-RIGHT: 0pt" align="justify"><font style="DISPLAY: inline; FONT-FAMILY: Times New Roman; FONT-SIZE: 10pt"><font id="TAB1" style="MARGIN-LEFT: 36pt"></font>Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</font></div>

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<div style="TEXT-INDENT: 0pt; DISPLAY: block"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Craig G. Blunden&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;</font></font></font></div>
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<td width="50%"><font style="FONT-FAMILY: times new roman; FONT-SIZE: 10pt"><font style="DISPLAY: inline; TEXT-DECORATION: underline">/s/ Donavon P. Ternes&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160; </font>&#160;</font></td>
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