Provident Bancorp Inc (PVBC)

Provident Bancorp announced a merger agreement with NB Bancorp, Inc. on June 5, 2025, which was approved by stockholders on September 16, 2025, and received regulatory approvals on October 20, 2025, with closing expected around November 14, 2025. Q1 2025 earnings showed a decrease in net income, while Q2 2025 earnings indicated an improvement. Q3 2025 net income was $2.7 million, surpassing expectations, and the net profit margin more than doubled to 20.2%. Stock/cash election forms were mailed to shareholders on October 8, 2025, and the stock price crossed above its 50-day moving average on October 24, 2025.

Specific details on demand seasonality for Provident Bancorp's products and services are not explicitly provided, but the banking industry can experience fluctuations. The company's operations are influenced by the broader economic and banking climates, including prevailing high interest rates and competition for deposits. Loan demand can also be affected by economic conditions. The company's focus on commercial banking and technology-first solutions may offer some resilience to traditional retail banking seasonality.

Provident Bancorp, Inc. (PVBC) is the holding company for BankProv, a commercial bank based in Massachusetts, operating in the Financials sector. It offers diverse banking services to commercial and consumer clients across the U.S., including various account types and lending products like commercial real estate and digital asset loans. BankProv specializes in technology-first banking solutions for niche markets and corporate clients.

Provident Bancorp, Inc. primarily operates in New England with a loan office in Florida. Its retail branches are in the North Shore of Massachusetts and southern New Hampshire. Commercial banking offices serve the Manchester/Concord market in Central New Hampshire. Loan production offices are located in Boston, Massachusetts, and Ponte Vedra Beach, Florida.

Provident Bancorp has focused on strengthening its foundation and navigating economic and banking challenges, including the fallout from the 2023 liquidity crisis and high interest rates. The company has been actively realigning its strategy to reinforce traditional banking practices and prudently reduce exposure in higher-risk areas, such as its digital asset loan portfolio. Positive events include donations to community organizations and the announced merger with NB Bancorp, which is expected to be accretive to NB Bancorp's earnings per share in 2026.

Provident Bancorp, Inc. has a mixed ownership structure, including public shareholders, institutional investors, and private stakeholders. There are 192 institutional owners and shareholders holding 8,861,572 shares. Major institutional owners include Vanguard Group Inc and BlackRock, Inc. Provident Bancorp (the mutual holding company) is the largest individual shareholder, owning 5.03 million shares, representing 28.31% of the company.