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Provident Financial (NASDAQ: PROV) names CEO to board and new lending chief

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(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

Provident Financial Holdings, Inc., the holding company for Provident Savings Bank, F.S.B., announced governance and management changes effective July 23, 2026. President and Chief Executive Officer Donavon P. Ternes was appointed to the Boards of Directors of both the Corporation and the Bank, filling vacancies created by the death of Director William E. Thomas in April 2026. He will serve on the Corporation’s Board until the 2027 Annual Meeting of Stockholders and on the Bank’s Board until its 2026 Annual Meeting of Stockholders.

The Bank also appointed Michael S. Van Stockum, age 63, as Senior Vice President and Chief Lending Officer effective July 23, 2026. Van Stockum has more than 40 years of experience in multiple lending disciplines and credit management. The company states there are no family relationships between him and any director or executive officer and no related party transactions requiring disclosure.

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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Board appointment effective date July 23, 2026 Effective date of Donavon P. Ternes' appointment to the Corporation and Bank Boards
New CLO age 63 years Age of Michael S. Van Stockum upon appointment as Senior Vice President and Chief Lending Officer
Lending experience more than 40 years Michael S. Van Stockum's experience in lending, underwriting, compliance and credit management
Corporation board term end 2027 Year of the Annual Meeting of Stockholders through which Ternes will serve on the Corporation’s Board
Community Reinvestment Act Officer regulatory
"most recent position of Vice President, Commercial Real Estate Loan Administrator and Community Reinvestment Act Officer"
Senior Vice President and Chief Lending Officer financial
"appointment of Michael S. Van Stockum, age 63, as Senior Vice President and Chief Lending Officer of the Bank"

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FAQ

What board changes did Provident Financial Holdings (PROV) announce?

Provident Financial Holdings appointed President and CEO Donavon P. Ternes to the Boards of Directors of both the Corporation and Provident Savings Bank, F.S.B., effective July 23, 2026, filling vacancies created by the death of Director William E. Thomas in April 2026.

How long will Donavon P. Ternes serve on the PROV and Bank boards?

Donavon P. Ternes will serve on the Corporation’s Board until its 2027 Annual Meeting of Stockholders and on the Bank’s Board until its 2026 Annual Meeting of Stockholders, completing the terms associated with the vacancies he is filling.

Who is the new Chief Lending Officer at Provident Savings Bank (PROV)?

Provident Savings Bank appointed Michael S. Van Stockum as Senior Vice President and Chief Lending Officer effective July 23, 2026. He has more than 40 years of experience in commercial, multifamily, construction, SBA lending, loan administration, underwriting, and enterprise-level credit management.

What experience does Michael S. Van Stockum bring to PROV’s lending role?

Michael S. Van Stockum, age 63, brings more than 40 years of experience across commercial, multifamily, construction and SBA lending, loan administration, underwriting, regulatory compliance, and enterprise-level credit management, including prior service as Vice President, Commercial Real Estate Loan Administrator and Community Reinvestment Act Officer.

Does Michael S. Van Stockum have family relationships with PROV directors or executives?

The disclosure specifies there are no family relationships between Michael S. Van Stockum and any director or executive officer of Provident Financial Holdings or Provident Savings Bank, F.S.B., addressing potential conflicts of interest related to his appointment.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 23, 2026

PROVIDENT FINANCIAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)

Delaware
000-28304
33-0704889
(State or other jurisdiction
of incorporation)
(Commission
File Number)
(I.R.S. Employer
Identification No.)

3756 Central Avenue, Riverside, California
92506
(Address of principal executive offices)
(Zip Code)

Registrant’s telephone number, including area code: (951) 686-6060

686-6060

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions.
 
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
 
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
 
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
 
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of each class
  Trading Symbol(s)
  Name of each exchange on which registered
Common Stock, par value $.01 per share
 
PROV
 
NASDAQ

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. [ ]


Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Provident Financial Holdings, Inc. (the "Corporation"), the holding company for Provident Savings Bank, F.S.B. (the "Bank"), announced that Donavon P. Ternes has been appointed, beginning July 23, 2026, to serve on the Boards of Directors of the Corporation and the Bank to fill the vacancies resulting from the death of Director William E. Thomas in April 2026.  Mr. Ternes will serve until the Corporation’s 2027 Annual Meeting of Stockholders and the Bank’s 2026 Annual Meeting of Stockholders

Mr. Ternes has been the President and Chief Executive Officer of the Corporation and Bank since January 2024 and joined the Corporation and Bank in November 2000 as Senior Vice President and Chief Financial Officer.  Mr. Ternes has held various positions within the Corporation and Bank with increasing duties and responsibilities including, Chief Operating Officer and Corporate Secretary, among others.

Additionally, the Bank announced the appointment of Michael S. Van Stockum, age 63, as Senior Vice President and Chief Lending Officer of the Bank effective July 23, 2026. 

Mr. Van Stockum has more than 40 years of experience across commercial, multifamily, construction and SBA lending, loan administration, underwriting, regulatory compliance, and enterprise-level credit management.  Since joining the Bank in 2007, Mr. Van Stockum has assumed increasing duties and responsibilities including his most recent position of Vice President, Commercial Real Estate Loan Administrator and Community Reinvestment Act Officer.

There are no family relationships between Mr. Van Stockum and any director or executive officer of the Corporation and the Bank.  Mr. Van Stockum has not engaged in any transaction with the Corporation or the Bank that would be reportable as a related party transaction under the rules of the Securities and Exchange Commission.





SIGNATURES

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.

Date:  July 24, 2026
PROVIDENT FINANCIAL HOLDINGS, INC.
 
 
 
 
 
/s/ Donavon P. Ternes                        
 
Donavon P. Ternes
President and Chief Executive Officer
(Principal Executive Officer)

   



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