Provident Bancorp, Inc. Reports Net Income of $2.7 Million for the Quarter Ended September 30, 2025
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.
Provident Bancorp (Nasdaq: PVBC) ha riportato un utile netto trimestrale di 2,7 milioni di dollari (0,16 dollari diluiti) per il trimestre chiuso al 30 settembre 2025, rispetto a 716.000 dollari (0,04) nello stesso trimestre dell'anno precedente e a 2,8 milioni di dollari (0,17) nel trimestre precedente. Nei primi nove mesi terminati il 30 settembre 2025, l'utile netto ammontava a 7,7 milioni di dollari (0,45) rispetto a 2,4 milioni (0,14) un anno prima.
Immagini operative chiave: utile netto interessi 13,2 milioni (trimestre), margine di interesse netto 3,67%, un beneficio da perdita creditizia di 418k (trimestre), reddito non- interessi include un guadagno da vendita/leaseback di 745k, attività totali 1,49 miliardi, depositi 1,23 miliardi e patrimonio netto azionisti 241,0 milioni; la banca è ben capitalizzata.
Provident Bancorp (Nasdaq: PVBC) informó un beneficio neto trimestral de 2,7 millones de dólares (0,16 por acción diluida) para el trimestre terminado el 30 de septiembre de 2025, frente a 716.000 dólares (0,04) en el trimestre del año anterior y 2,8 millones (0,17) en el trimestre anterior. En los primeros nueve meses finalizados el 30 de septiembre de 2025, el beneficio neto fue 7,7 millones de dólares (0,45) frente a 2,4 millones (0,14) un año antes.
Resúmenes operativos clave: ingreso neto por intereses 13,2 millones (trimestre), margen neto de intereses 3,67%, un beneficio por pérdidas crediticias de 418k (trimestre), ingresos no por intereses incluyen una ganancia por venta/leaseback de 745k, activos totales 1,49 mil millones, depósitos 1,23 mil millones y patrimonio de los accionistas 241,0 millones; el banco está bien capitalizado.
Provident Bancorp (나스닥: PVBC)가 2025년 9월 30일로 끝난 분기에 주당 희석 기준 0.16달러(순이익 270만 달러)를 보고했습니다. 전년 동분기의 0.04달러(716,000달러) 및 직전 분기의 0.17달러(280만달러) 대비합니다. 2025년 9월 30일로 끝난 9개월간의 순이익은 0.45달러(주당)인 770만 달러였습니다. 전년동기 0.14달러(240만달러)와 비교됩니다.
주요 운영 지표: 이자 순이익 1320만 달러 (분기), 순이자 마진 3.67%, 분기의 대손충당금 적립 이점 41.8만 달러, 비이자수익에는 매각/리스백으로 인한 74.5만 달러의 이익, 총자산 14.9억 달러, 예금 12.3억 달러, 주주자본 2.41억 달러; 은행은 충분한 자본을 보유하고 있습니다.
Provident Bancorp (Nasdaq : PVBC) a déclaré un bénéfice net trimestriel de 2,7 millions de dollars (0,16 par action diluée) pour le trimestre clos le 30 septembre 2025, contre 716 000 dollars (0,04) au trimestre de l'année précédente et 2,8 millions (0,17) au trimestre précédent. Pour les neuf mois clos le 30 septembre 2025, le bénéfice net s’est élevé à 7,7 millions de dollars (0,45) contre 2,4 millions (0,14) l’an dernier.
Aperçu opérationnel clé : produit net d’intérêts 13,2 M$ (trimestre), marge nette d'intérêt 3,67 %, une valeur de 418k de crédit en moins (bénéfice, trimestre), les revenus non liés aux intérêts incluent un gain de vente et de bail-bail de 745k, actifs totaux 1,49 Md$, dépôts 1,23 Md$, et fonds propres des actionnaires 241,0 M$ ; la banque est bien capitalisée.
Provident Bancorp (Nasdaq: PVBC) meldete quartalsweises Nettoeinkommen von 2,7 Mio. USD (0,16 USD je Aktie diluiert) für das Quartal zum 30. September 2025, verglichen mit 716.000 USD (0,04) im entsprechenden Quartal des Vorjahres und 2,8 Mio. USD (0,17) im vorangegangenen Quartal. Für die neun Monate zum 30. September 2025 betrug das Nettoeinkommen 7,7 Mio. USD (0,45) gegenüber 2,4 Mio. USD (0,14) im Vorjahr.
Wichtige operative Kennzahlen: Zinsertrag netto 13,2 Mio. USD (Quartal), Nettozinsmarge 3,67 %, ein Kreditverlust-Vorteil von 418k USD (Quartal), Nichtzinsen-Erträge beinhalten einen Gewinn aus Verkauf/Leaseback von 745k USD, Gesamtaktiva 1,49 Mrd. USD, Einlagen 1,23 Mrd. USD und Eigenkapital der Aktionäre 241,0 Mio. USD; Die Bank ist gut kapitalisiert.
Provident Bancorp (ناسداك: PVBC) أبلغت عن صافي دخل ربح ربعي قدره 2.7 مليون دولار (0.16 دولار لكل سهم مخفّف) للسنة المالية المنتهية في 30 سبتمبر 2025، مقارنة بـ 716 ألف دولار (0.04) في الربع نفسه من العام الماضي و2.8 مليون دولار (0.17) في الربع السابق. خلال التسعة أشهر المنتهية في 30 سبتمبر 2025، كان صافي الدخل 7.7 مليون دولار (0.45) مقارنة بـ 2.4 مليون دولار (0.14) قبل عام.
لمحات تشغيلية رئيسية: دخل الفوائد الصافي 13.2 مليون دولار (الربع)، الهامش الصافي للفوائد 3.67%، فائدة انخفاض الائتمان 418 ألف دولار (الربع)، الدخل غير من الفوائد يتضمن ربح بيع/إعادة تمويل إيجاري بقيمة 745 ألف دولار، الأصول الإجمالية 1.49 مليار دولار، الودائع 1.23 مليار دولار، وحقوق المساهمين 241.0 مليون دولار؛ البنك مُموّل بشكل جيد.
Provident Bancorp (纳斯达克：PVBC) 报告称，截止2025年9月30日的季度净利润为270万美元（每股摊薄0.16美元），较前一年同期的71.6万美元（0.04）及前一季度的280万美元（0.17）有所增加。到2025年9月30日止的九个月净利润为770万美元（每股0.45美元），上一年同期为240万美元（0.14）。
关键运营快照：净利息收入1320万美元（季度），净利息收益率3.67%，信用损失收益418千美元（季度），非利息收入包含出售/回租收益745千美元，总资产14.9亿美元，存款12.3亿美元，股东权益2.41亿美元；银行资本充足。
- Quarterly net income +277% YoY to $2.7M
- Nine-month net income +221% YoY to $7.7M
- Net interest and dividend income +6.3% YoY to $13.2M (quarter)
- Total interest expense -20.0% YoY to $23.6M (nine months)
- Credit loss benefit of $418k for the quarter (reduced reserves)
- Shareholders' equity +4.3% from Dec 31, 2024 to $241.0M
- Total assets -6.4% from Dec 31, 2024 to $1.49B
- Total deposits -5.8% from Dec 31, 2024 to $1.23B
- Non-accrual loans rose to $34.4M from $20.9M at Dec 31, 2024
Insights
Quarterly results show year‑over‑year improvement in profitability and capital, with modest quarter‑to‑quarter compression in margins.
Provident Bancorp reported
The shortfalls versus the prior quarter are explicit: marginal declines in quarterly net income (from
The Company's return on average assets was
For the quarter ended September 30, 2025, net interest and dividend income was
Total interest and dividend income was
Total interest expense was
Total interest expense decreased
The Company recognized a
Net charge-offs totaled
Noninterest income was
Noninterest expense was
The Company recorded an income tax provision of
Total assets were
The allowance for credit losses for loans was
Total deposits were
As of September 30, 2025, shareholders' equity totaled
About Provident Bancorp, Inc.
Provident Bancorp, Inc. (NASDAQ:PVBC) is the holding company for BankProv, a full-service commercial bank headquartered in
Forward-Looking Statements
This news release may contain certain forward-looking statements, such as statements of the Company's or the Bank's plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by the use of words such as, "expects," "subject," "believe," "will," "intends," "may," "will be" or "would." These statements are subject to change based on various important factors (some of which are beyond the Company's or the Bank's control), and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect management's analysis of factors only as of the date on which they are given). These factors include: those related to the status of our proposed merger with NB Bancorp, Inc., general economic conditions, including potential recessionary conditions; interest rates; inflation; levels of unemployment; legislative, regulatory and accounting changes; monetary and fiscal policies of the
Investor contact:
Joseph Reilly
President and Chief Executive Officer
Provident Bancorp, Inc.
jreilly@bankprov.com
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Provident Bancorp, Inc. Consolidated Balance Sheet |
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At |
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At |
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At |
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|||
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|
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September 30, |
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June 30, |
|
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December 31, |
|
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2025 |
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2025 |
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2024 |
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(Dollars in thousands) |
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(unaudited) |
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(unaudited) |
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Assets |
|
|
|
|
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|
|
|
|
|
|
|
|
Cash and due from banks |
|
$ |
19,373 |
|
|
$ |
21,700 |
|
|
$ |
27,536 |
|
|
Short-term investments |
|
|
109,508 |
|
|
|
107,209 |
|
|
|
141,606 |
|
|
Cash and cash equivalents |
|
|
128,881 |
|
|
|
128,909 |
|
|
|
169,142 |
|
|
Debt securities available-for-sale (at fair value) |
|
|
24,441 |
|
|
|
24,534 |
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|
|
25,693 |
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|
Federal Home Loan Bank stock, at cost |
|
|
1,004 |
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|
|
2,242 |
|
|
|
2,697 |
|
|
Loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
|
597,361 |
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|
|
580,750 |
|
|
|
559,325 |
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Construction and land development |
|
|
29,895 |
|
|
|
37,362 |
|
|
|
28,097 |
|
|
Residential real estate |
|
|
4,972 |
|
|
|
4,936 |
|
|
|
6,008 |
|
|
Mortgage warehouse |
|
|
252,208 |
|
|
|
284,154 |
|
|
|
259,181 |
|
|
Commercial |
|
|
154,858 |
|
|
|
160,596 |
|
|
|
163,927 |
|
|
Enterprise value |
|
|
231,991 |
|
|
|
246,382 |
|
|
|
309,786 |
|
|
Consumer |
|
|
93 |
|
|
|
85 |
|
|
|
271 |
|
|
Total loans |
|
|
1,271,378 |
|
|
|
1,314,265 |
|
|
|
1,326,595 |
|
|
Allowance for credit losses for loans |
|
|
(20,414) |
|
|
|
(20,796) |
|
|
|
(21,087) |
|
|
Net loans |
|
|
1,250,964 |
|
|
|
1,293,469 |
|
|
|
1,305,508 |
|
|
Bank owned life insurance |
|
|
47,028 |
|
|
|
46,679 |
|
|
|
46,017 |
|
|
Premises and equipment, net |
|
|
10,062 |
|
|
|
10,127 |
|
|
|
10,188 |
|
|
Accrued interest receivable |
|
|
4,210 |
|
|
|
4,877 |
|
|
|
5,296 |
|
|
Right-of-use assets |
|
|
5,431 |
|
|
|
5,488 |
|
|
|
3,429 |
|
|
Deferred tax asset, net |
|
|
11,890 |
|
|
|
12,631 |
|
|
|
13,808 |
|
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Other assets |
|
|
7,712 |
|
|
|
11,925 |
|
|
|
11,392 |
|
|
Total assets |
|
$ |
1,491,623 |
|
|
$ |
1,540,881 |
|
|
$ |
1,593,170 |
|
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Liabilities and Shareholders' Equity |
|
|
|
|
|
|
|
|
|
|
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Deposits: |
|
|
|
|
|
|
|
|
|
|
|
|
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Noninterest-bearing demand deposits |
|
$ |
280,288 |
|
|
$ |
287,927 |
|
|
$ |
351,528 |
|
|
NOW |
|
|
87,268 |
|
|
|
103,115 |
|
|
|
83,270 |
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Regular savings |
|
|
90,578 |
|
|
|
105,123 |
|
|
|
132,198 |
|
|
Money market deposits |
|
|
470,800 |
|
|
|
463,100 |
|
|
|
463,687 |
|
|
Certificates of deposit |
|
|
303,457 |
|
|
|
298,713 |
|
|
|
278,277 |
|
|
Total deposits |
|
|
1,232,391 |
|
|
|
1,257,978 |
|
|
|
1,308,960 |
|
|
Borrowings: |
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|
|
|
|
|
|
|
|
|
|
|
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Short-term borrowings |
|
|
3,000 |
|
|
|
25,000 |
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|
|
35,000 |
|
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Long-term borrowings |
|
|
4,462 |
|
|
|
9,495 |
|
|
|
9,563 |
|
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Total borrowings |
|
|
7,462 |
|
|
|
34,495 |
|
|
|
44,563 |
|
|
Operating lease liabilities |
|
|
5,900 |
|
|
|
5,939 |
|
|
|
3,862 |
|
|
Commitments and contingencies |
|
|
— |
|
|
|
350 |
|
|
|
— |
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Other liabilities |
|
|
4,841 |
|
|
|
4,748 |
|
|
|
4,698 |
|
|
Total liabilities |
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|
1,250,594 |
|
|
|
1,303,510 |
|
|
|
1,362,083 |
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Shareholders' equity: |
|
|
|
|
|
|
|
|
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|
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Preferred stock, |
|
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— |
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— |
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— |
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Common stock, |
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|
178 |
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|
|
178 |
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|
|
178 |
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Additional paid-in capital |
|
|
126,772 |
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|
|
126,329 |
|
|
|
125,446 |
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Retained earnings |
|
|
121,225 |
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|
|
118,555 |
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|
|
113,561 |
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Accumulated other comprehensive loss |
|
|
(1,212) |
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|
|
(1,578) |
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|
|
(1,625) |
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Unearned compensation - ESOP |
|
|
(5,934) |
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|
|
(6,113) |
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|
|
(6,473) |
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Total shareholders' equity |
|
|
241,029 |
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|
|
237,371 |
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|
|
231,087 |
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|
Total liabilities and shareholders' equity |
|
$ |
1,491,623 |
|
|
$ |
1,540,881 |
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|
$ |
1,593,170 |
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Provident Bancorp, Inc. Consolidated Income Statements (Unaudited) |
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Three Months Ended |
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Nine Months Ended |
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September 30, |
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June 30, |
|
|
September 30, |
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|
September 30, |
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|
September 30, |
|
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|
(Dollars in thousands, except per share data) |
|
2025 |
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|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
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Interest and dividend income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Interest and fees on loans |
|
$ |
19,606 |
|
|
$ |
20,085 |
|
|
$ |
21,257 |
|
|
$ |
58,998 |
|
|
$ |
61,637 |
|
|
Interest and dividends on debt securities available-for-sale |
|
|
220 |
|
|
|
231 |
|
|
|
240 |
|
|
|
711 |
|
|
|
720 |
|
|
Interest on short-term investments |
|
|
1,484 |
|
|
|
984 |
|
|
|
932 |
|
|
|
3,481 |
|
|
|
3,979 |
|
|
Total interest and dividend income |
|
|
21,310 |
|
|
|
21,300 |
|
|
|
22,429 |
|
|
|
63,190 |
|
|
|
66,336 |
|
|
Interest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
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Interest on deposits |
|
|
7,877 |
|
|
|
7,261 |
|
|
|
9,068 |
|
|
|
22,507 |
|
|
|
28,015 |
|
|
Interest on short-term borrowings |
|
|
219 |
|
|
|
482 |
|
|
|
916 |
|
|
|
1,007 |
|
|
|
1,375 |
|
|
Interest on long-term borrowings |
|
|
28 |
|
|
|
30 |
|
|
|
36 |
|
|
|
88 |
|
|
|
98 |
|
|
Total interest expense |
|
|
8,124 |
|
|
|
7,773 |
|
|
|
10,020 |
|
|
|
23,602 |
|
|
|
29,488 |
|
|
Net interest and dividend income |
|
|
13,186 |
|
|
|
13,527 |
|
|
|
12,409 |
|
|
|
39,588 |
|
|
|
36,848 |
|
|
Credit loss (benefit) expense - loans |
|
|
(353) |
|
|
|
(384) |
|
|
|
1,666 |
|
|
|
(667) |
|
|
|
2,590 |
|
|
Credit loss (benefit) expense - off-balance sheet credit exposures |
|
|
(65) |
|
|
|
6 |
|
|
|
27 |
|
|
|
(141) |
|
|
|
(20) |
|
|
Total credit loss (benefit) expense |
|
|
(418) |
|
|
|
(378) |
|
|
|
1,693 |
|
|
|
(808) |
|
|
|
2,570 |
|
|
Net interest and dividend income after credit loss (benefit) expense |
|
|
13,604 |
|
|
|
13,905 |
|
|
|
10,716 |
|
|
|
40,396 |
|
|
|
34,278 |
|
|
Noninterest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Customer service fees on deposit accounts |
|
|
686 |
|
|
|
690 |
|
|
|
813 |
|
|
|
2,091 |
|
|
|
2,152 |
|
|
Service charges and fees - other |
|
|
306 |
|
|
|
442 |
|
|
|
486 |
|
|
|
1,024 |
|
|
|
1,144 |
|
|
Bank owned life insurance income |
|
|
349 |
|
|
|
335 |
|
|
|
327 |
|
|
|
1,011 |
|
|
|
948 |
|
|
Other income |
|
|
217 |
|
|
|
764 |
|
|
|
82 |
|
|
|
1,043 |
|
|
|
343 |
|
|
Total noninterest income |
|
|
1,558 |
|
|
|
2,231 |
|
|
|
1,708 |
|
|
|
5,169 |
|
|
|
4,587 |
|
|
Noninterest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries and employee benefits |
|
|
7,749 |
|
|
|
7,338 |
|
|
|
7,267 |
|
|
|
22,663 |
|
|
|
22,705 |
|
|
Occupancy expense |
|
|
426 |
|
|
|
376 |
|
|
|
452 |
|
|
|
1,250 |
|
|
|
1,302 |
|
|
Equipment expense |
|
|
115 |
|
|
|
120 |
|
|
|
159 |
|
|
|
379 |
|
|
|
471 |
|
|
Deposit insurance |
|
|
331 |
|
|
|
294 |
|
|
|
334 |
|
|
|
957 |
|
|
|
988 |
|
|
Data processing |
|
|
429 |
|
|
|
410 |
|
|
|
416 |
|
|
|
1,260 |
|
|
|
1,231 |
|
|
Marketing expense |
|
|
61 |
|
|
|
62 |
|
|
|
57 |
|
|
|
168 |
|
|
|
151 |
|
|
Professional fees |
|
|
823 |
|
|
|
1,124 |
|
|
|
800 |
|
|
|
2,516 |
|
|
|
3,098 |
|
|
Directors' compensation |
|
|
197 |
|
|
|
197 |
|
|
|
233 |
|
|
|
589 |
|
|
|
584 |
|
|
Software depreciation and implementation |
|
|
532 |
|
|
|
532 |
|
|
|
614 |
|
|
|
1,617 |
|
|
|
1,741 |
|
|
Insurance expense |
|
|
224 |
|
|
|
224 |
|
|
|
303 |
|
|
|
669 |
|
|
|
907 |
|
|
Service fees |
|
|
294 |
|
|
|
371 |
|
|
|
405 |
|
|
|
983 |
|
|
|
881 |
|
|
Other |
|
|
253 |
|
|
|
1,043 |
|
|
|
536 |
|
|
|
1,906 |
|
|
|
1,846 |
|
|
Total noninterest expense |
|
|
11,434 |
|
|
|
12,091 |
|
|
|
11,576 |
|
|
|
34,957 |
|
|
|
35,905 |
|
|
Income before income tax expense |
|
|
3,728 |
|
|
|
4,045 |
|
|
|
848 |
|
|
|
10,608 |
|
|
|
2,960 |
|
|
Income tax expense |
|
|
1,058 |
|
|
|
1,221 |
|
|
|
132 |
|
|
|
2,944 |
|
|
|
571 |
|
|
Net income |
|
$ |
2,670 |
|
|
$ |
2,824 |
|
|
$ |
716 |
|
|
$ |
7,664 |
|
|
$ |
2,389 |
|
|
Earnings per share: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
$ |
0.16 |
|
|
$ |
0.17 |
|
|
$ |
0.04 |
|
|
$ |
0.45 |
|
|
$ |
0.14 |
|
|
Diluted |
|
$ |
0.16 |
|
|
$ |
0.17 |
|
|
$ |
0.04 |
|
|
$ |
0.45 |
|
|
$ |
0.14 |
|
|
Weighted Average Shares: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic |
|
|
16,897,892 |
|
|
|
16,860,744 |
|
|
|
16,748,404 |
|
|
|
16,860,555 |
|
|
|
16,708,363 |
|
|
Diluted |
|
|
17,071,693 |
|
|
|
16,954,078 |
|
|
|
16,811,614 |
|
|
|
16,982,799 |
|
|
|
16,754,858 |
|
|
Provident Bancorp, Inc. Net Interest Income Analysis (Unaudited) |
||||||||||||||||||||||||||||||||||||
|
|
||||||||||||||||||||||||||||||||||||
|
|
|
For the Three Months Ended |
|
|||||||||||||||||||||||||||||||||
|
|
|
September 30, 2025 |
|
|
June 30, 2025 |
|
|
September 30, 2024 |
|
|||||||||||||||||||||||||||
|
|
|
|
|
|
|
Interest |
|
|
|
|
|
|
|
|
|
|
Interest |
|
|
|
|
|
|
|
|
|
|
Interest |
|
|
|
|
|
|||
|
|
|
Average |
|
|
Earned/ |
|
|
Yield/ |
|
|
Average |
|
|
Earned/ |
|
|
Yield/ |
|
|
Average |
|
|
Earned/ |
|
|
Yield/ |
|
|||||||||
|
(Dollars in thousands) |
|
Balance |
|
|
Paid |
|
|
Rate (5) |
|
|
Balance |
|
|
Paid |
|
|
Rate (5) |
|
|
Balance |
|
|
Paid |
|
|
Rate (5) |
|
|||||||||
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans (1) |
|
$ |
1,278,662 |
|
|
$ |
19,606 |
|
|
|
6.13 |
% |
|
$ |
1,320,244 |
|
|
$ |
20,085 |
|
|
|
6.09 |
% |
|
$ |
1,359,712 |
|
|
$ |
21,257 |
|
|
|
6.25 |
% |
|
Short-term investments |
|
|
134,014 |
|
|
|
1,484 |
|
|
|
4.43 |
% |
|
|
87,843 |
|
|
|
984 |
|
|
|
4.48 |
% |
|
|
78,925 |
|
|
|
932 |
|
|
|
4.72 |
% |
|
Debt securities available-for-sale |
|
|
24,360 |
|
|
|
172 |
|
|
|
2.82 |
% |
|
|
24,786 |
|
|
|
182 |
|
|
|
2.94 |
% |
|
|
27,367 |
|
|
|
201 |
|
|
|
2.94 |
% |
|
Federal Home Loan Bank stock |
|
|
1,984 |
|
|
|
48 |
|
|
|
9.68 |
% |
|
|
2,596 |
|
|
|
49 |
|
|
|
7.55 |
% |
|
|
3,476 |
|
|
|
39 |
|
|
|
4.49 |
% |
|
Total interest-earning assets |
|
|
1,439,020 |
|
|
|
21,310 |
|
|
|
5.92 |
% |
|
|
1,435,469 |
|
|
|
21,300 |
|
|
|
5.94 |
% |
|
|
1,469,480 |
|
|
|
22,429 |
|
|
|
6.11 |
% |
|
Noninterest earning assets |
|
|
84,381 |
|
|
|
|
|
|
|
|
|
|
|
87,489 |
|
|
|
|
|
|
|
|
|
|
|
94,258 |
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
1,523,401 |
|
|
|
|
|
|
|
|
|
|
$ |
1,522,958 |
|
|
|
|
|
|
|
|
|
|
$ |
1,563,738 |
|
|
|
|
|
|
|
|
|
|
Liabilities and shareholders' equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings accounts |
|
$ |
100,987 |
|
|
$ |
204 |
|
|
|
0.81 |
% |
|
$ |
106,622 |
|
|
$ |
215 |
|
|
|
0.81 |
% |
|
$ |
155,726 |
|
|
$ |
898 |
|
|
|
2.31 |
% |
|
Money market accounts |
|
|
474,957 |
|
|
|
4,023 |
|
|
|
3.39 |
% |
|
|
446,440 |
|
|
|
3,733 |
|
|
|
3.34 |
% |
|
|
479,276 |
|
|
|
4,823 |
|
|
|
4.03 |
% |
|
NOW accounts |
|
|
84,974 |
|
|
|
333 |
|
|
|
1.57 |
% |
|
|
92,260 |
|
|
|
395 |
|
|
|
1.71 |
% |
|
|
79,527 |
|
|
|
311 |
|
|
|
1.56 |
% |
|
Certificates of deposit |
|
|
298,997 |
|
|
|
3,317 |
|
|
|
4.44 |
% |
|
|
287,166 |
|
|
|
2,918 |
|
|
|
4.06 |
% |
|
|
231,373 |
|
|
|
3,036 |
|
|
|
5.25 |
% |
|
Total interest-bearing deposits |
|
|
959,915 |
|
|
|
7,877 |
|
|
|
3.28 |
% |
|
|
932,488 |
|
|
|
7,261 |
|
|
|
3.11 |
% |
|
|
945,902 |
|
|
|
9,068 |
|
|
|
3.83 |
% |
|
Borrowings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings |
|
|
20,196 |
|
|
|
219 |
|
|
|
4.34 |
% |
|
|
43,989 |
|
|
|
482 |
|
|
|
4.38 |
% |
|
|
66,727 |
|
|
|
916 |
|
|
|
5.49 |
% |
|
Long-term borrowings |
|
|
8,604 |
|
|
|
28 |
|
|
|
1.30 |
% |
|
|
9,507 |
|
|
|
30 |
|
|
|
1.26 |
% |
|
|
9,607 |
|
|
|
36 |
|
|
|
1.50 |
% |
|
Total borrowings |
|
|
28,800 |
|
|
|
247 |
|
|
|
3.43 |
% |
|
|
53,496 |
|
|
|
512 |
|
|
|
3.83 |
% |
|
|
76,334 |
|
|
|
952 |
|
|
|
4.99 |
% |
|
Total interest-bearing liabilities |
|
|
988,715 |
|
|
|
8,124 |
|
|
|
3.29 |
% |
|
|
985,984 |
|
|
|
7,773 |
|
|
|
3.15 |
% |
|
|
1,022,236 |
|
|
|
10,020 |
|
|
|
3.92 |
% |
|
Noninterest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing deposits |
|
|
283,626 |
|
|
|
|
|
|
|
|
|
|
|
292,421 |
|
|
|
|
|
|
|
|
|
|
|
305,124 |
|
|
|
|
|
|
|
|
|
|
Other noninterest-bearing liabilities |
|
|
11,184 |
|
|
|
|
|
|
|
|
|
|
|
7,920 |
|
|
|
|
|
|
|
|
|
|
|
10,377 |
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
1,283,525 |
|
|
|
|
|
|
|
|
|
|
|
1,286,325 |
|
|
|
|
|
|
|
|
|
|
|
1,337,737 |
|
|
|
|
|
|
|
|
|
|
Total equity |
|
|
239,876 |
|
|
|
|
|
|
|
|
|
|
|
236,633 |
|
|
|
|
|
|
|
|
|
|
|
226,001 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and equity |
|
$ |
1,523,401 |
|
|
|
|
|
|
|
|
|
|
$ |
1,522,958 |
|
|
|
|
|
|
|
|
|
|
$ |
1,563,738 |
|
|
|
|
|
|
|
|
|
|
Net interest income |
|
|
|
|
|
$ |
13,186 |
|
|
|
|
|
|
|
|
|
|
$ |
13,527 |
|
|
|
|
|
|
|
|
|
|
$ |
12,409 |
|
|
|
|
|
|
Interest rate spread (2) |
|
|
|
|
|
|
|
|
|
|
2.63 |
% |
|
|
|
|
|
|
|
|
|
|
2.79 |
% |
|
|
|
|
|
|
|
|
|
|
2.19 |
% |
|
Net interest-earning assets (3) |
|
$ |
450,305 |
|
|
|
|
|
|
|
|
|
|
$ |
449,485 |
|
|
|
|
|
|
|
|
|
|
$ |
447,244 |
|
|
|
|
|
|
|
|
|
|
Net interest margin (4) |
|
|
|
|
|
|
|
|
|
|
3.67 |
% |
|
|
|
|
|
|
|
|
|
|
3.77 |
% |
|
|
|
|
|
|
|
|
|
|
3.38 |
% |
|
Average interest-earning assets to interest-bearing liabilities |
|
|
145.54 |
% |
|
|
|
|
|
|
|
|
|
|
145.59 |
% |
|
|
|
|
|
|
|
|
|
|
143.75 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Interest earned/paid on loans includes |
|
(2) |
Interest rate spread represents the difference between the weighted average yield on interest-bearing assets and the weighted average rate of interest-bearing liabilities. |
|
(3) |
Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. |
|
(4) |
Net interest margin represents net interest income as a percentage of average interest-earning assets. |
|
(5) |
Annualized. |
|
|
|
For the Nine Months Ended |
|
|||||||||||||||||||||
|
|
|
September 30, 2025 |
|
|
September 30, 2024 |
|
||||||||||||||||||
|
|
|
|
|
|
|
Interest |
|
|
|
|
|
|
|
|
|
|
Interest |
|
|
|
|
|
||
|
|
|
Average |
|
|
Earned/ |
|
|
Yield/ |
|
|
Average |
|
|
Earned/ |
|
|
Yield/ |
|
||||||
|
(Dollars in thousands) |
|
Balance |
|
|
Paid |
|
|
Rate (5) |
|
|
Balance |
|
|
Paid |
|
|
Rate (5) |
|
||||||
|
Assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-earning assets: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Loans (1) |
|
$ |
1,296,782 |
|
|
$ |
58,998 |
|
|
|
6.07 |
% |
|
$ |
1,337,289 |
|
|
$ |
61,637 |
|
|
|
6.15 |
% |
|
Short-term investments |
|
|
104,179 |
|
|
|
3,481 |
|
|
|
4.46 |
% |
|
|
101,539 |
|
|
|
3,979 |
|
|
|
5.22 |
% |
|
Debt securities available-for-sale |
|
|
24,909 |
|
|
|
543 |
|
|
|
2.91 |
% |
|
|
27,694 |
|
|
|
612 |
|
|
|
2.95 |
% |
|
Federal Home Loan Bank stock |
|
|
2,423 |
|
|
|
168 |
|
|
|
9.24 |
% |
|
|
2,379 |
|
|
|
108 |
|
|
|
6.05 |
% |
|
Total interest-earning assets |
|
|
1,428,293 |
|
|
|
63,190 |
|
|
|
5.90 |
% |
|
|
1,468,901 |
|
|
|
66,336 |
|
|
|
6.02 |
% |
|
Noninterest earning assets |
|
|
88,020 |
|
|
|
|
|
|
|
|
|
|
|
99,161 |
|
|
|
|
|
|
|
|
|
|
Total assets |
|
$ |
1,516,313 |
|
|
|
|
|
|
|
|
|
|
$ |
1,568,062 |
|
|
|
|
|
|
|
|
|
|
Liabilities and shareholders' equity: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Savings accounts |
|
$ |
108,709 |
|
|
$ |
682 |
|
|
|
0.84 |
% |
|
$ |
204,892 |
|
|
$ |
4,505 |
|
|
|
2.93 |
% |
|
Money market accounts |
|
|
456,496 |
|
|
|
11,512 |
|
|
|
3.36 |
% |
|
|
463,632 |
|
|
|
13,560 |
|
|
|
3.90 |
% |
|
NOW accounts |
|
|
83,420 |
|
|
|
985 |
|
|
|
1.57 |
% |
|
|
77,373 |
|
|
|
718 |
|
|
|
1.24 |
% |
|
Certificates of deposit |
|
|
285,124 |
|
|
|
9,328 |
|
|
|
4.36 |
% |
|
|
237,760 |
|
|
|
9,232 |
|
|
|
5.18 |
% |
|
Total interest-bearing deposits |
|
|
933,749 |
|
|
|
22,507 |
|
|
|
3.21 |
% |
|
|
983,657 |
|
|
|
28,015 |
|
|
|
3.80 |
% |
|
Borrowings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Short-term borrowings |
|
|
33,971 |
|
|
|
1,007 |
|
|
|
3.95 |
% |
|
|
32,242 |
|
|
|
1,375 |
|
|
|
5.69 |
% |
|
Long-term borrowings |
|
|
9,214 |
|
|
|
88 |
|
|
|
1.27 |
% |
|
|
9,642 |
|
|
|
98 |
|
|
|
1.36 |
% |
|
Total borrowings |
|
|
43,185 |
|
|
|
1,095 |
|
|
|
3.38 |
% |
|
|
41,884 |
|
|
|
1,473 |
|
|
|
4.69 |
% |
|
Total interest-bearing liabilities |
|
|
976,934 |
|
|
|
23,602 |
|
|
|
3.22 |
% |
|
|
1,025,541 |
|
|
|
29,488 |
|
|
|
3.83 |
% |
|
Noninterest-bearing liabilities: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Noninterest-bearing deposits |
|
|
293,472 |
|
|
|
|
|
|
|
|
|
|
|
305,849 |
|
|
|
|
|
|
|
|
|
|
Other noninterest-bearing liabilities |
|
|
9,138 |
|
|
|
|
|
|
|
|
|
|
|
10,977 |
|
|
|
|
|
|
|
|
|
|
Total liabilities |
|
|
1,279,544 |
|
|
|
|
|
|
|
|
|
|
|
1,342,367 |
|
|
|
|
|
|
|
|
|
|
Total equity |
|
|
236,769 |
|
|
|
|
|
|
|
|
|
|
|
225,695 |
|
|
|
|
|
|
|
|
|
|
Total liabilities and equity |
|
$ |
1,516,313 |
|
|
|
|
|
|
|
|
|
|
$ |
1,568,062 |
|
|
|
|
|
|
|
|
|
|
Net interest income |
|
|
|
|
|
$ |
39,588 |
|
|
|
|
|
|
|
|
|
|
$ |
36,848 |
|
|
|
|
|
|
Interest rate spread (2) |
|
|
|
|
|
|
|
|
|
|
2.68 |
% |
|
|
|
|
|
|
|
|
|
|
2.19 |
% |
|
Net interest-earning assets (3) |
|
$ |
451,359 |
|
|
|
|
|
|
|
|
|
|
$ |
443,360 |
|
|
|
|
|
|
|
|
|
|
Net interest margin (4) |
|
|
|
|
|
|
|
|
|
|
3.70 |
% |
|
|
|
|
|
|
|
|
|
|
3.34 |
% |
|
Average interest-earning assets to interest-bearing liabilities |
|
|
146.20 |
% |
|
|
|
|
|
|
|
|
|
|
143.23 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
(1) |
Interest earned/paid on loans includes |
|
(2) |
Interest rate spread represents the difference between the weighted average yield on interest-bearing assets and the weighted average rate of interest-bearing liabilities. |
|
(3) |
Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. |
|
(4) |
Net interest margin represents net interest income as a percent of average interest-earning assets. |
|
(5) |
Annualized. |
|
Provident Bancorp, Inc. Select Financial Highlights (Unaudited) |
||||||||||||||||||||
|
|
||||||||||||||||||||
|
|
|
Three Months Ended |
|
|
Nine Months Ended |
|
||||||||||||||
|
|
|
September 30, |
|
|
June 30, |
|
|
September 30, |
|
|
September 30, |
|
||||||||
|
|
|
2025 |
|
|
2025 |
|
|
2024 |
|
|
2025 |
|
|
2024 |
|
|||||
|
Performance Ratios: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average assets (1) |
|
|
0.70 |
% |
|
|
0.74 |
% |
|
|
0.18 |
% |
|
|
0.67 |
% |
|
|
0.20 |
% |
|
Return on average equity (1) |
|
|
4.45 |
% |
|
|
4.77 |
% |
|
|
1.27 |
% |
|
|
4.32 |
% |
|
|
1.41 |
% |
|
Interest rate spread (1) (2) |
|
|
2.63 |
% |
|
|
2.79 |
% |
|
|
2.19 |
% |
|
|
2.68 |
% |
|
|
2.19 |
% |
|
Net interest margin (1) (3) |
|
|
3.67 |
% |
|
|
3.77 |
% |
|
|
3.38 |
% |
|
|
3.70 |
% |
|
|
3.34 |
% |
|
Noninterest expense to average assets (1) |
|
|
3.00 |
% |
|
|
3.18 |
% |
|
|
2.96 |
% |
|
|
3.07 |
% |
|
|
3.05 |
% |
|
Efficiency ratio (4) |
|
|
77.55 |
% |
|
|
76.73 |
% |
|
|
82.00 |
% |
|
|
78.10 |
% |
|
|
86.65 |
% |
|
Average interest-earning assets to average interest-bearing liabilities |
|
|
145.54 |
% |
|
|
145.59 |
% |
|
|
143.75 |
% |
|
|
146.20 |
% |
|
|
143.23 |
% |
|
Average equity to average assets |
|
|
15.75 |
% |
|
|
15.54 |
% |
|
|
14.45 |
% |
|
|
15.61 |
% |
|
|
14.39 |
% |
|
|
|
At |
|
|
At |
|
|
At |
|
|||
|
|
|
September 30, |
|
|
June 30, |
|
|
December 31, |
|
|||
|
(Dollars in thousands) |
|
2025 |
|
|
2025 |
|
|
2024 |
|
|||
|
Asset Quality |
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-accrual loans: |
|
|
|
|
|
|
|
|
|
|
|
|
|
Commercial real estate |
|
$ |
53 |
|
|
$ |
54 |
|
|
$ |
57 |
|
|
Residential real estate |
|
|
414 |
|
|
|
420 |
|
|
|
366 |
|
|
Commercial |
|
|
1,511 |
|
|
|
1,536 |
|
|
|
1,543 |
|
|
Enterprise value |
|
|
32,422 |
|
|
|
32,430 |
|
|
|
18,920 |
|
|
Consumer |
|
|
— |
|
|
|
— |
|
|
|
1 |
|
|
Total non-accrual loans |
|
|
34,400 |
|
|
|
34,440 |
|
|
|
20,887 |
|
|
Total non-performing assets |
|
$ |
34,400 |
|
|
$ |
34,440 |
|
|
$ |
20,887 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Asset Quality Ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
Allowance for credit losses for loans as a percent of total loans (5) |
|
|
1.61 |
% |
|
|
1.58 |
% |
|
|
1.59 |
% |
|
Allowance for credit losses for loans as a percent of non-performing loans |
|
|
59.34 |
% |
|
|
60.38 |
% |
|
|
100.96 |
% |
|
Non-performing loans as a percent of total loans (5) |
|
|
2.71 |
% |
|
|
2.62 |
% |
|
|
1.57 |
% |
|
Non-performing loans as a percent of total assets |
|
|
2.31 |
% |
|
|
2.24 |
% |
|
|
1.31 |
% |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Capital and Share Related |
|
|
|
|
|
|
|
|
|
|
|
|
|
Shareholders' equity to total assets |
|
|
16.16 |
% |
|
|
15.40 |
% |
|
|
14.50 |
% |
|
Book value per share |
|
$ |
13.55 |
|
|
$ |
13.35 |
|
|
$ |
12.99 |
|
|
Market value per share |
|
$ |
12.53 |
|
|
$ |
12.49 |
|
|
$ |
11.40 |
|
|
Shares outstanding |
|
|
17,782,946 |
|
|
|
17,785,538 |
|
|
|
17,788,543 |
|
|
|
|
|
(1) |
Annualized. |
|
(2) |
Interest rate spread represents the difference between the weighted average yield on average interest-earning assets and the weighted average cost of interest-bearing liabilities. |
|
(3) |
Net interest margin represents net interest income as a percent of average interest-earning assets. |
|
(4) |
The efficiency ratio represents noninterest expense divided by the sum of net interest income and noninterest income, excluding gains on securities available for sale, net (if applicable). |
|
(5) |
Loans are presented at amortized cost. |
View original content to download multimedia:https://www.prnewswire.com/news-releases/provident-bancorp-inc-reports-net-income-of-2-7-million-for-the-quarter-ended-september-30--2025--302593198.html
SOURCE Provident Bancorp, Inc.
FAQ
What did Provident Bancorp (PVBC) report for net income in Q3 2025?
How did PVBC's nine‑month 2025 net income compare to 2024?
What was Provident Bancorp's net interest margin and net interest income in Q3 2025?
Did PVBC record any notable one‑time gains in 2025 that affected results?
How did Provident Bancorp's deposits and assets change by September 30, 2025?
Is BankProv well capitalized after Q3 2025 results?
