---
schema_version: "secwatch.filing_event.v1"
accession: "0000939057-23-000318"
form_type: "8-K"
ticker: "PROV"
cik: "0001010470"
company_name: "PROVIDENT FINANCIAL HOLDINGS INC"
filed_at: "2023-10-31T23:59:59+00:00"
generated_at: "2026-06-09T03:59:08.835855+00:00"
event_type: "leadership"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Provident Financial CEO Craig Blunden to retire; Donavon Ternes named successor

## Summary
- Craig G. Blunden to retire as CEO on Jan 1, 2024; becomes non-executive Chairman.
- Donavon P. Ternes appointed President and CEO of Company and Bank, effective Jan 1, 2024.
- Ternes currently President, COO, CFO; search underway for new CFO; COO post to remain vacant.
- Blunden's Transition Agreement includes $3,700 monthly retainer and continued benefits as Chairman.
- Ternes' Employment Agreement provides $500,000 initial salary, three-year term, and severance terms.

## SEC filing metadata
- accession: 0000939057-23-000318
- form_type: 8-K
- ticker: PROV
- cik: 0001010470
- company_name: PROVIDENT FINANCIAL HOLDINGS INC
- filed_at: 2023-10-31T23:59:59+00:00
- event_type: leadership
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 5.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1010470/000093905723000318/0000939057-23-000318-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1010470/000093905723000318/prov8knr102523.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000939057-23-000318
- JSON: https://secwatch.observer/filing/0000939057-23-000318.json
- Plain text: https://secwatch.observer/filing/0000939057-23-000318.txt

## Key facts
- Executive change
  Donavon P. Ternes was appointed as President and Chief Executive Officer at PROVIDENT FINANCIAL HOLDINGS INC.
  - Action: appointed
  - Role: President and Chief Executive Officer
  source text: the Company announced the appointment of Donavon P. Ternes as President and Chief Executive Officer of the both the Company and the Bank effective on January 1, 2024.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1010470/000093905723000318/0000939057-23-000318-index.htm
- Executive change
  Craig G. Blunden changed role as non-executive Chairman at PROVIDENT FINANCIAL HOLDINGS INC.
  - Action: transitioned
  - Role: non-executive Chairman
  source text: Chairman and Chief Executive Officer Craig G. Blunden intends to retire from active employment with the Company and Provident Savings Bank, F.S.B. (the “Bank”) on January 1, 2024 and transition into becoming non-executive Chairman of the Board of Directors
  evidence_url: https://www.sec.gov/Archives/edgar/data/1010470/000093905723000318/0000939057-23-000318-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.