Provident Bancorp Inc Stock Price, News & Analysis

Provident Bancorp (Nasdaq: PVBC) reported quarterly net income of $2.7 million ($0.16 diluted) for the quarter ended September 30, 2025, versus $716,000 ($0.04) in the year-ago quarter and $2.8 million ($0.17) in the prior quarter. For the nine months ended September 30, 2025, net income was $7.7 million ($0.45) versus $2.4 million ($0.14) a year earlier.

Key operating snapshots: net interest income $13.2M (quarter), net interest margin 3.67%, a $418k credit loss benefit (quarter), noninterest income includes a $745k sale/leaseback gain, total assets $1.49B, deposits $1.23B, and shareholders' equity $241.0M; the Bank is well capitalized.

NB Bancorp (NASDAQ: NBBK) and Provident Bancorp (NASDAQ: PVBC) announced that all regulatory approvals required to complete their previously announced merger have been received.

The companies said the proposed merger, first announced June 5, 2025, is expected to close on or about November 14, 2025, subject to customary closing conditions. Provident stockholders approved the merger on September 16, 2025. Management highlighted expansion of Needham's footprint and continuity of community-banking products and services.

Needham (NASDAQ: NBBK) and Provident (NASDAQ: PVBC) announced that all required regulatory approvals have been received for Needham's proposed acquisition of Provident, originally announced June 5, 2025.

The companies said the Merger is expected to close on or about November 14, 2025, subject to customary closing conditions; Provident stockholders previously approved the Merger on September 16, 2025. Management highlighted combined-market expansion and continuity of community-banking services.

NB Bancorp (Nasdaq: NBBK) and Provident Bancorp (Nasdaq: PVBC) distributed stock/cash Election Materials to Provident shareholders for the pending merger.

At the Effective Time, each Provident share will convert into either 0.691 shares of Needham common stock or $13.00 cash (or a combination), subject to a 50% stock / 50% cash allocation and proration. Provident stockholders must submit elections by the Election Deadline (anticipated 5:00 p.m. ET on November 7, 2025); ESOP/401(k) participants deadline is October 31, 2025. Needham expects the Merger to become effective on November 15, 2025, pending regulatory approvals.

Provident Bancorp (NASDAQ:PVBC) reported strong Q2 2025 financial results with net income of $2.8 million ($0.17 per diluted share), compared to $2.2 million in Q1 2025 and a loss of $3.3 million in Q2 2024. The company's performance showed significant improvement with return on average assets of 0.74% and return on average equity of 4.77%.

Key highlights include net interest and dividend income of $13.5 million, up 13.2% year-over-year, and improved interest rate spread of 2.79%. The company announced a proposed merger with Needham Bank, expected to close in Q4 2025, and completed a sale/leaseback transaction of its Main Office building.

Total assets stood at $1.54 billion as of June 30, 2025, with net loans at $1.29 billion. The bank maintained strong capital ratios with shareholders' equity at $237.4 million and a book value per share of $13.34.

NB Bancorp (NBBK) and Provident Bancorp (PVBC) have announced a definitive merger agreement valued at $211.8 million. Under the agreement, Provident stockholders will receive either 0.691 shares of Needham stock or $13.00 in cash per share, with a 50-50 split between stock and cash consideration. The merger expands Needham Bank's presence into the North Shore of Massachusetts and New Hampshire, creating a combined organization with approximately $7.1 billion in assets, $5.9 billion in deposits, and $6.1 billion in loans across 18 branches. The deal is expected to be 19% accretive to NB Bancorp's EPS in 2026 and will result in the sixth-largest Massachusetts-based bank in the Boston MSA. The transaction is anticipated to close in Q4 2025, subject to regulatory approvals and Provident shareholder approval.

Provident Bancorp (PVBC) reported Q1 2025 net income of $2.2 million ($0.13 per diluted share), down from $4.9 million ($0.29) in Q4 2024 and $5.0 million ($0.30) in Q1 2024. Return on average assets decreased to 0.58% from 1.22% in Q4 2024.

Net interest and dividend income was $12.9 million, down 5.6% from Q4 2024. Total assets decreased 2.5% to $1.55 billion, while net loans increased 0.4% to $1.31 billion. The bank's enterprise value portfolio decreased by 15.3%, while commercial loans grew 4.9%.

Total deposits declined 9.5% to $1.18 billion, with notable decreases in specialty deposits (-27.8%) and brokered deposits (-16.8%). Non-accrual loans increased to $31.4 million (2.02% of total assets) due to a $10.4 million enterprise value loan relationship placed on non-accrual status. The bank maintains well-capitalized status with shareholders' equity at $234.0 million.

Provident Bancorp (PVBC) reported Q4 2024 net income of $4.9 million ($0.29 per diluted share), up from $716,000 in Q3 2024 and $2.9 million in Q4 2023. For full-year 2024, net income was $7.3 million ($0.43 per share), compared to $11.0 million in 2023.

The company's Q4 performance showed improvements with return on average assets at 1.22% and return on average equity at 8.54%. Net interest margin increased to 3.62% in Q4 2024, up from 3.38% in Q3. Total assets were $1.59 billion, with net loans at $1.31 billion. Non-accrual loans decreased to $20.9 million (1.31% of total assets) from $37.2 million in Q3.

Notable improvements include successful reduction in funding costs, improved liquidity position, and decreased noninterest expenses by 18.8% year-over-year in Q4. The bank successfully worked out a $16.2 million construction loan and continued its strategy to reduce credit risk.

Provident Bancorp (Nasdaq:PVBC) has announced a new stock repurchase program following approval from the Federal Reserve Bank of Boston. The program allows the company to repurchase up to 883,366 shares, representing approximately 5% of current outstanding shares. Repurchases can be conducted through open market transactions, private dealings, and block trades, subject to Rule 10b5-1 and Rule 10b-18 regulations. Management will execute purchases based on market conditions, trading prices, and alternative capital uses. The program can be modified or terminated at any time.