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Provident Bancorp Inc - PVBC STOCK NEWS

Welcome to our dedicated news page for Provident Bancorp (Ticker: PVBC), a resource for investors and traders seeking the latest updates and insights on Provident Bancorp.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Provident Bancorp's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Provident Bancorp's position in the market.

Rhea-AI Summary
Provident Bancorp, Inc. (PVBC) appoints Julienne Cassarino, a seasoned bank analyst and investor, to its Board of Directors and BankProv's Board. Cassarino's extensive experience and expertise in bank analysis and investment will enhance governance. She is the founder of Sycamore Analytics LLC and co-creator of VirtualBankConference.com, bringing a unique perspective to the commercial bank. Cassarino's educational background includes an MBA from Wharton, MSc from LSE, and BA from Trinity College.
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BankProv (NASDAQ: PVBC) announces the addition of Sandra Ennin as Vice President, Business Banking Officer. Ennin brings 15 years of industry experience and will drive the growth of the Bank's small business loan portfolio. She will also collaborate with community organizations in the Newburyport and Amesbury markets to support the region's economic well-being.
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Provident Bancorp, Inc. (NASDAQ: PVBC) has appointed Dennis Pollack to its Board of Directors and the Board of Directors of its operating subsidiary, BankProv. Pollack brings extensive banking experience and a deep market understanding, having held executive positions at various institutions. He is expected to contribute to the strategic vision of the company and provide guidance in the interest of shareholders. Pollack's background includes executive roles at Sony Corporation of America, the Connecticut Bank of Commerce, the Savings Bank of Rockland County, and Paulson & Company. He has been recognized for his contributions to the banking industry and holds degrees in Economics and Business Administration from reputable universities.
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Provident Bancorp, Inc. reported net income of $2.9 million for Q4 2023, compared to $2.5 million in Q3 2023 and $2.7 million in Q4 2022. For the year ended December 31, 2023, net income was $11.0 million, compared to a net loss of $21.5 million in 2022. The company's net interest and dividend income, as well as noninterest income and expenses, showed both positive and negative trends.
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BankProv (NASDAQ: PVBC) announces the addition of Curt Murray as Assistant Vice President (AVP), Business Banking Officer. With over two decades of experience in financial institutions, Curt will lead business development efforts and work closely with clients in the commercial loan portfolio. Embracing a community-centric approach, he will actively engage with local community organizations and cultivate relationships with business owners.
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BankProv selects Cable to enhance its financial crime compliance program with automated testing capabilities.
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Provident Bancorp reports net income of $2.5 million for Q3 2023, compared to $3.5 million in Q2 2023. Net income for nine months of 2023 is $8.0 million, compared to a net loss of $24.2 million in 2022. The company implemented a workforce realignment plan resulting in cost savings of approximately 7%.
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BankProv welcomes Tricia Abood as Vice President, Business Development Officer
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Provident Bancorp reports Q2 2023 net income of $3.5 million, a decrease compared to Q1 2023 and Q2 2022. The decline is attributed to a decrease in net interest margin and increased cost of funds. The company has implemented cost reduction measures and revised its business plan to manage risk and improve performance.
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Provident Bancorp Inc

Nasdaq:PVBC

PVBC Rankings

PVBC Stock Data

152.20M
12.81M
13.25%
47.64%
1.1%
Savings Institutions
Finance and Insurance
Link
United States
Amesbury

About PVBC

established in 1828, the provident bank is an independent, mutually-owned, full-service community bank with a focus in commercial lending and business services with offices in amesbury and newburyport, massachusetts and exeter, hampton, portsmouth and seabrook, new hampshire. additional lending offices are in bedford and nashua, new hampshire. the bank is dedicated to the goal of being the highest-performing bank, providing excellence in service to our customers, our communities and our employees. all deposits are insured in full through a combination of insurance provided by the federal deposit insurance corporation (fdic) and the depositors insurance fund (dif). for more information, please visit theprovidentbank.