EXHIBIT 13
2026 Annual Report to Stockholders

2026 Annual Report
Message From the Chairman
Dear Fellow Shareholders:
I am pleased to forward our Annual Report for fiscal 2026 highlighting our financial results. Last year I noted in the Chairman’s Message that “… the market is expecting the easing of monetary policy to resume later this calendar year but we are cognizant of the weaker employment data that was recently released and its potential downstream impact on the economy. We are also observing some weaknesses in the California real estate market.” A year later, after three successive quarter-point reductions in the federal funds rate in the latter part of 2025, the Federal Open Market Committee, or FOMC, has held rates steady. At present, the market does not appear to expect additional interest rate cuts for the remainder of this year and possibly into 2027. Indeed, some market observers believe a rate hike is possible later this year. We have also seen an important shift in the bond market. The U.S. Treasury yield curve emerged from its extended inversion and returned to a more normal upward slope. As short-term rates have been anchored by the federal funds rate, longer-term bond yields have been steadily rising, further steepening the yield curve. This movement reflects continued uncertainty regarding inflation, the state of the federal budget deficit and the potential for geopolitical developments to create supply-chain or energy-related pressures.
For banks, a steeper yield curve can be beneficial. A bank’s net interest margin benefits from the widening spread between the cost of deposits and other short-term funding and yields earned on loans. New loans are being originated at higher rates, and adjustable-rate loans are repricing upward. At the same time, higher long-term rates weigh on the real estate market, especially in high cost markets such as California. Mortgage payments become ever more unaffordable for prospective buyers, while many existing homeowners remain locked into mortgages with rates well below current levels. At the current level of mortgage rates, residential purchase and refinancing activities have been curtailed. Even so, California real estate values have been resilient. Prices have generally held up well across the markets we serve, reflecting the underlying strength in the economy and limited housing supply in our local communities.
In this evolving market, one thing remains a constant: we are well positioned, supported by a strong capital position and pristine credit quality. Our long-standing credit culture has served us well and positioned the Company among the top performers across key credit quality metrics. Our goal is to remain good stewards of our capital by executing a strategy of disciplined,
sustainable growth, conservative credit underwriting, and consistent returns of capital to our shareholders.
Fiscal 2026
Last year, I described that our fiscal 2026 Business Plan reflected measured growth in loans and retail deposits, disciplined control of operating expenses, and sound capital management. Our financial results, described in the following Financial Highlights, reflected improved earnings compared to the prior year, despite a moderate decline in total assets.
During fiscal 2026, as the yield curve normalized, we adjusted our strategy accordingly to support increased loan production. Following a 61 percent increase in loan production during fiscal 2025, we achieved an additional 32 percent increase in loan production in fiscal 2026. However, these production gains were fully offset by higher-than-normal levels of loan prepayments. As a result, our loans held for investment decreased by approximately one percent for the fiscal year. The deposit landscape remained challenging, as competition for deposits continued to be intense. Competitors of all sizes, including large national banks, aggressively marketed promotional deposit rates that remain elevated today, even as the FOMC lowered short-term rates in 2025. We made accommodations, as appropriate, to our pricing based on our evaluation of the customer relationships, while maintaining our pricing discipline, and augmented our funding needs with certificates of deposit and borrowings. Total deposits increased two percent during the fiscal year although transaction accounts declined three percent. Our net interest margin exceeded three percent for the year, reaching 3.09 percent, with the improvement driven primarily by the repricing of Federal Home Loan Bank advances to lower rates as they matured. Despite inflationary pressures, operating expenses increased by less than one percent for the fiscal year. Finally, we recorded no loan charge-offs during fiscal 2026 - our eighth consecutive year without reporting a net charge-off.
Returning capital to our shareholders is a priority. During fiscal 2026, we maintained our quarterly cash dividend of $0.14 per share and increased our share repurchases to approximately 344,000 shares, compared to approximately 285,000 shares in fiscal 2025.
Fiscal 2027
As we look to fiscal 2027, our priorities remain consistent: measured growth in loans and retail deposits; disciplined expense management; and sound capital management. We believe this approach is the
right course in an economy that continues to expand, while recognizing the need to remain cautious amid ongoing market and geopolitical uncertainties. We expect to continue returning capital to shareholders through dividends and share repurchases while maintaining sufficient capital to support our business strategy and withstand potential losses under adverse conditions. We remain committed to single-family residential, multi-family, and commercial real estate mortgage lending as our primary sources of asset growth and our retail branch network will continue to serve as the primary source of the Bank’s funding.
A Final Word
This year, Provident proudly celebrates the 70th anniversary of its founding, serving the great city of Riverside and its surrounding communities. As the largest independent community bank headquartered in Riverside County, I am proud of our distinguished history as a trusted provider of banking services. Just as importantly, I am proud of the commitment demonstrated throughout our organization to strengthen the communities we serve through volunteer service, charitable support and community investment. As we look to the year ahead and beyond,
I want to assure you that the Board, management team and employees of Provident remain dedicated to carrying forward the Company’s reputation and legacy, just as we have since our founding. We will remain true to our community banking roots and focus on serving the families and small businesses of the Inland Empire. That heritage is central to who we are, and we intend to build on it in the years to come.
In closing, I would like to recognize and thank our employees and Directors for their commitment and service to Provident. Their efforts make our success possible. I also extend my sincere appreciation to our customers, shareholders, and the communities we serve for the confidence you place in us. Our continued success depends on the trust you place in Provident, and we are grateful for the opportunity to serve you.
Sincerely,
/s/ Craig G. Blunden
Craig G. Blunden
Chairman of the Board of Directors
Financial Highlights
The following tables set forth information concerning the consolidated financial position and results of operations of the Corporation and its subsidiary at the dates and for the periods indicated.
| | At or For The Year Ended June 30, | |||||||||||||
(In Thousands, Except Per Share Information) | | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | |||||
FINANCIAL CONDITION DATA: | | | | | | | | | | | | | | | |
Total assets | | $ | 1,208,161 | | $ | 1,245,613 | | $ | 1,272,200 | | $ | 1,332,948 | | $ | 1,187,038 |
Loans held for investment, net | | | 1,032,682 | | | 1,045,745 | | | 1,052,979 | | | 1,077,629 | | | 939,992 |
Cash and cash equivalents | | | 49,210 | | | 53,090 | | | 51,376 | | | 65,849 | | | 23,414 |
Investment securities | | | 90,523 | | | 111,006 | | | 131,900 | | | 156,492 | | | 188,421 |
Deposits | | | 910,383 | | | 888,772 | | | 888,348 | | | 950,571 | | | 955,504 |
Borrowings | | | 157,046 | | | 213,073 | | | 238,500 | | | 235,009 | | | 85,000 |
Stockholders’ equity | | | 126,220 | | | 128,545 | | | 129,941 | | | 129,687 | | | 128,650 |
Book value per share | | | 20.15 | | | 19.54 | | | 18.98 | | | 18.41 | | | 17.66 |
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OPERATING DATA: | | | | | | | | | | | | | | | |
Interest income | | $ | 55,889 | | $ | 56,624 | | $ | 54,730 | | $ | 45,992 | | $ | 34,730 |
Interest expense | | | 19,561 | | | 21,155 | | | 19,807 | | | 9,007 | | | 3,135 |
Net interest income | | | 36,328 | | | 35,469 | | | 34,923 | | | 36,985 | | | 31,595 |
(Recovery of) provision for credit losses | | | (553) | | | (666) | | | (63) | | | 374 | | | (2,462) |
Net interest income after (recovery of) provision for credit losses | | | 36,881 | | | 36,135 | | | 34,986 | | | 36,611 | | | 34,057 |
Loan servicing and other fees | | | 583 | | | 419 | | | 337 | | | 414 | | | 1,056 |
Deposit account fees | | | 1,067 | | | 1,112 | | | 1,154 | | | 1,296 | | | 1,302 |
Card and processing fees | | | 1,203 | | | 1,265 | | | 1,384 | | | 1,525 | | | 1,639 |
Other non-interest income | | | 873 | | | 735 | | | 1,066 | | | 840 | | | 719 |
Operating expenses | | | 30,971 | | | 30,793 | | | 28,540 | | | 28,270 | | | 25,915 |
Income before income taxes | | | 9,636 | | | 8,873 | | | 10,387 | | | 12,416 | | | 12,858 |
Provision for income taxes | | | 2,981 | | | 2,618 | | | 3,036 | | | 3,824 | | | 3,765 |
Net income | | $ | 6,655 | | $ | 6,255 | | $ | 7,351 | | $ | 8,592 | | $ | 9,093 |
Basic earnings per share | | $ | 1.04 | | $ | 0.93 | | $ | 1.06 | | $ | 1.20 | | $ | 1.23 |
Diluted earnings per share | | $ | 1.03 | | $ | 0.93 | | $ | 1.06 | | $ | 1.19 | | $ | 1.22 |
Cash dividend per share | | $ | 0.56 | | $ | 0.56 | | $ | 0.56 | | $ | 0.56 | | $ | 0.56 |
Financial Highlights
| | At or For The Year Ended June 30, | | ||||||||
| | 2026 | | 2025 | | 2024 | | 2023 | | 2022 | |
KEY OPERATING RATIOS: | | | | | | | | | | | |
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Performance Ratios | | | | | | | | | | | |
Return on average assets | | 0.55 | % | 0.50 | % | 0.57 | % | 0.68 | % | 0.76 | % |
Return on average stockholders’ equity | | 5.17 | | 4.79 | | 5.62 | | 6.58 | | 7.14 | |
Interest rate spread | | 2.91 | | 2.74 | | 2.62 | | 2.92 | | 2.69 | |
Net interest margin | | 3.09 | | 2.93 | | 2.78 | | 2.99 | | 2.72 | |
Average interest-earning assets to average interest-bearing liabilities | | 110.61 | | 110.38 | | 110.28 | | 110.27 | | 110.67 | |
Operating expenses as a percentage of average total assets | | 2.57 | | 2.48 | | 2.22 | | 2.23 | | 2.17 | |
Efficiency ratio(1) | | 77.32 | | 78.96 | | 73.44 | | 68.85 | | 71.37 | |
Stockholders’ equity to total assets ratio | | 10.45 | | 10.32 | | 10.21 | | 9.73 | | 10.84 | |
Dividend payout ratio | | 54.37 | | 60.22 | | 52.83 | | 47.06 | | 45.88 | |
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The Bank's Regulatory Capital Ratios | | | | | | | | | | | |
Tier 1 leverage capital (to adjusted average assets) | | 10.30 | % | 10.11 | % | 10.02 | % | 9.59 | % | 10.47 | % |
CET1 capital (to risk-weighted assets) | | 19.41 | | 19.50 | | 19.29 | | 18.50 | | 19.58 | |
Tier 1 capital (to risk-weighted assets) | | 19.41 | | 19.50 | | 19.29 | | 18.50 | | 19.58 | |
Total capital (to risk-weighted assets) | | 20.34 | | 20.51 | | 20.38 | | 19.38 | | 20.47 | |
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Asset Quality Ratios | | | | | | | | | | | |
Non-performing loans as a percentage of loans held for investment, net | | 0.05 | % | 0.14 | % | 0.25 | % | 0.12 | % | 0.15 | % |
Non-performing assets as a percentage of total assets | | 0.04 | | 0.11 | | 0.20 | | 0.10 | | 0.12 | |
Allowance for credit losses as a percentage of gross loans held for investment | | 0.57 | | 0.62 | | 0.67 | | 0.55 | | 0.59 | |
Net (recoveries) charge-offs to average loans receivable, net | | — | | — | | — | | — | | (0.05) | |
| (1) | Operating expenses as a percentage of net interest income and non-interest income. |
Shareholder Information
ANNUAL MEETING
The annual meeting of shareholders will be held virtually by means of remote communication on Thursday, November 19, 2026 at 11:00 a.m. (Pacific). A formal notice of the meeting, together with a proxy statement and proxy form, will be mailed to shareholders.
CORPORATE OFFICE
Provident Financial Holdings, Inc.
3756 Central Avenue
Riverside, CA 92506
(951) 686-6060
INTERNET ADDRESS
www.myprovident.com
SPECIAL COUNSEL
Breyer & Associates PC
8180 Greensboro Drive, Suite 785
McLean, VA 22102
(703) 883-1100
INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM
Deloitte & Touche LLP
695 Town Center Drive, Suite 1000
Costa Mesa, CA 92626-7188
(714) 436-7100
TRANSFER AGENT
First Class/Registered/Certified Mail: | |
Computershare Investor Services | |
Courier Services/Overnight: | |
Computershare Investor Services Canton, MA 02021 | |
MARKET INFORMATION
Provident Financial Holdings, Inc. is traded on the NASDAQ Global Select Market under the symbol PROV.
FINANCIAL INFORMATION
Requests for copies of the Form 10-K and Forms 10-Q filed with the Securities and Exchange Commission should be directed in writing to:
Peter C. Fan
Senior Vice President and Chief Financial Officer
Provident Financial Holdings, Inc.
3756 Central Avenue
Riverside, CA 92506
CORPORATE PROFILE
Provident Financial Holdings, Inc. (the “Corporation”), a Delaware corporation, was organized in January 1996 for the purpose of becoming the holding company for Provident Savings Bank, F.S.B. (the “Bank”) upon the Bank’s conversion from a federal mutual to a federal stock savings bank (“Conversion”). The Conversion was completed on June 27, 1996. The Corporation does not engage in any significant activity other than holding the stock of the Bank. The Bank serves the banking needs of select communities in Riverside and San Bernardino Counties and has mortgage lending operations in California.
Board of Directors and Senior Officers
Board of Directors | | Senior Officers |
| | |
Craig G. Blunden | | Provident Financial Holdings, Inc. |
Chairman of the Board of Directors | | |
Provident Financial Holdings, Inc. | | Donavon P. Ternes |
Provident Savings Bank, F.S.B. | | President and Chief Executive Officer |
| | |
Judy A. Carpenter | | Peter C. Fan |
Retired Healthcare Executive | | Senior Vice President |
| | Chief Financial Officer |
Debbi H. Guthrie | | Corporate Secretary |
Retired Executive | | |
Raincross Hospitality Corporation | | Provident Savings Bank, F.S.B. |
| | |
Brian N. Hawley | | Donavon P. Ternes |
Chief Executive Officer | | President and Chief Executive Officer |
Luminex Software, Inc. | | |
| | Avedis “Avi” Demirdjian |
Kathy M. Michalak | | Senior Vice President |
Former Executive Director | | Chief Information Officer |
Habitat for Humanity Riverside | | |
| | Peter C. Fan |
Donavon P. Ternes | | Senior Vice President |
President and Chief Executive Officer | | Chief Financial Officer |
Provident Financial Holdings, Inc. | | Corporate Secretary |
Provident Savings Bank, F.S.B. | | |
| | Glee A. Harris |
Matthew E. Webb President and Chief Executive Officer Albert A. Webb Associates | | Senior Vice President Human Resources |
| | Robert “Scott” Ritter Senior Vice President Single-Family Division |
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| | Michael S. Van Stockum Senior Vice President Chief Lending Officer |
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| | Gwendolyn L. Wertz Senior Vice President Retail Banking Division |
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Provident Locations
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RETAIL BANKING CENTERS | | |
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Blythe | | Moreno Valley |
350 E. Hobson Way | | 12460 Heacock Street |
Blythe, CA 92225 | | Moreno Valley, CA 92553 |
(760) 922-6105 | | (951) 242-3149 |
Canyon Crest | | Orangecrest |
5225 Canyon Crest Drive, Suite 30 | | 19348 Van Buren Boulevard, Suite 119 |
Riverside, CA 92507 | | Riverside, CA 92508 |
(951) 781-8080 | | (951) 780-7170 |
Corona | | Rancho Mirage |
487 Magnolia Avenue, Suite 101 | | 71991 Highway 111 |
Corona, CA 92879 | | Ranch Mirage, CA 92270 |
(951) 270-2926 | | (760) 340-5644 |
Downtown Business Center | | Redlands |
4001 Main Street | | 125 E. Citrus Avenue |
Riverside, CA 92501 | | Redlands, CA 92373 |
(951) 682-3272 | | (909) 793-2992 |
Hemet | | Sun City |
1690 E. Florida Avenue | | 27010 Sun City Boulevard |
Hemet, CA 92544 | | Sun City, CA 92586 |
(951) 658-7224 | | (951) 679-2301 |
Home Office | | Temecula |
6570 Magnolia Avenue | | 40705 Winchester Road, Suite 6 |
Riverside, CA 92506 | | Temecula, CA 92591 |
(951) 782-6177 | | (951) 296-2429 |
La Sierra | | |
3312 La Sierra Avenue, Suite 105 | | |
Riverside, CA 92503 | | |
(951) 353-9897 | | |
Customer Information 1-800-442-5201 or www.myprovident.com

Corporate Office
3756 Central Avenue, Riverside, CA 92506
(951) 686-6060
www.myprovident.com
NASDAQ Global Select Market - PROV