WVS Financial Corp. announced that its Board of Directors declared a quarterly cash dividend of $0.16 per share payable on November 25, 2009 to stockholders of record on November 16, 2009.

WVS Financial Corp. reported unaudited earnings results for the first quarter ended September 30, 2009. The company reported net income of $171,000 or $0.08 per diluted share for the three months ended September 30, 2009 as compared to net income of $757,000 or $0.35 per diluted share for the same period in 2008. The $586,000 decrease in net income during the quarter was primarily attributable to an $863,000 decrease in net interest income and a $14,000 decrease in non-interest income which were partially offset by a $237,000 decrease in income tax expense and a $63,000 decrease in non-interest expense. The decrease in net interest income was caused by a $1,685,000 decrease in total interest income which was partially offset by an $822,000 decrease in total interest expense. The decrease in total interest income was attributable to lower revenues (in thousands) earned on floating rate mortgage-backed securities ($1,393), callable U.S. Government agency bonds ($1,075) and the elimination of dividends paid by the Federal Home Loan Bank of Pittsburgh ($91), which were partially offset by revenue gains in corporate securities ($698), certificates of deposit ($100) and loans ($76). The Company's first quarter earnings were adversely impacted by low market interest rates as opposed to loan write-offs. This period of low interest rates is expected to continue throughout most of fiscal 2010. Net interest income was $986,000 against $1,849,000 a year ago. Income before income tax expense was $226,000 against $1,049,000 a year ago. Book value per share as on September 30, 2009 was $14.96 against $15.03 on September 30, 2008. Return on average assets was 0.18% against 0.67% a year ago. Return on average equity was 2.19% against 9.15% a year ago.

WVS Financial Corp., Annual General Meeting, Oct 27, 2009, at 10:00 US Eastern Time. Location: St. Brendan's Episcopal Church, 2365 McAleer Road, Sewickley, Pennsylvania, United States. Agenda: To elect one director for a four-year term and until her successor is elected and qualified; to ratify the appointment of S.R. Snodgrass, A.C. as the company's independent registered public accounting firm for the fiscal year ended June 30, 2010; and to transact such other business as may properly come before the meeting or any adjournment thereof. Management is not aware of any other such business.