Provident Bancorp

Provident Bancorp, Inc. (Massachusetts) is a holding company that operates a commercial bank. The firm offers digital currency, business and private banking, cash management, and personal services. The company was founded on June 01, 2019 and is headquartered in Amesbury, MA.

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Provident Bancorp, Inc. is a holding company that operates as a commercial bank. It offers digital currency, business and private banking, cash management, and personal services. The company was founded on August 25, 2011 and is headquartered in Amesbury, MA.

AMESBURY, Mass., Oct. 22, 2020 (GLOBE NEWSWIRE) -- Provident Bancorp, Inc. (the “Company”) (NasdaqCM: PVBC), the holding company for The Provident Bank (the “Bank”), reported net income for the three months ended September 30, 2020 of $3.2 million, or $0.18 per diluted share, compared to $3.5 million, or $0.19 per diluted share, for the three months ended September 30, 2019. Net income for the nine months ended September 30, 2020 was $7.7 million, or $0.42 per diluted share, compared to $8.3 million, or $0.44 per diluted share, for the nine months ended September 30, 2019. As a result of the completion of the second-step conversion and related stock offering in October 2019, all historical share and per share information has been restated to reflect the 2.0212-to-one exchange ratio.

Provident Bancorp, Inc. Reports Earnings for the September 30, 2020 Quarter and Continues Payment of Quarterly Cash Dividends of $0.03 per Share

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AMESBURY, Mass., July  17, 2020  (GLOBE NEWSWIRE) -- Provident Bancorp, Inc. (the “Company”) (NasdaqCM: PVBC), the holding company for The Provident Bank (the “Bank”), reported net income for the three months ended June 30, 2020 of $3.3 million, or $0.18 per diluted share, compared to $2.5 million, or $0.13 per diluted share, for the three months ended June 30, 2019. Net income for the six months ended June 30, 2020 was $4.5 million, or $0.25 per diluted share, compared to $4.8 million, or $0.25 per diluted share, for the six months ended June 30, 2019. As a result of the completion of the second-step conversion and related stock offering in October 2019, all historical share and per share information has been restated to reflect the 2.0212-to-one exchange ratio.

Provident Bancorp, Inc. Reports Earnings for the June 30, 2020 Quarter and Initiates Payment of Quarterly Cash Dividends of $0.03 per Share

AMESBURY, Mass., May  08, 2020  (GLOBE NEWSWIRE) -- Provident Bancorp, Inc. (the “Company”) (NasdaqCM: PVBC), the holding company for The Provident Bank (the “Bank”), reported net income for the three months ended March 31, 2020 of $1.2 million, or $0.07 per diluted share, compared to $2.2 million, or $0.12 per diluted share, for the three months ended March 31, 2019. As a result of the completion of the second-step conversion and related stock offering in October 2019, all historical share and per share information has been restated to reflect the 2.0212-to-one exchange ratio.

Provident Bancorp, Inc. Reports Earnings for the March 31, 2020 Quarter

AMESBURY, Mass., March  12, 2020  (GLOBE NEWSWIRE) -- Provident Bancorp, Inc. (the “Company”) (Nasdaq:PVBC), the holding company for The Provident Bank (the “Bank”), announced today that the Company intends to initiate a quarterly dividend policy and will request the non-objection of the Board of Governors of the Federal Reserve System (the “Federal Reserve”) for a quarterly dividend of up to $0.03 per share, payable during the second quarter of 2020. 

PROVIDENT BANCORP, INC. ANNOUNCES INTENTION TO PAY QUARTERLY CASH DIVIDENDS AND TO ADOPT STOCK REPURCHASE PROGRAM

PORTSMOUTH, N.H., Jan.  22, 2020  (GLOBE NEWSWIRE) -- The Provident Bank has entered the Warehouse Lending business by acquiring United Bank's legacy ResX Warehouse Lending portfolio from People's United Bank, N.A. on January 17, 2020.

The Provident Bank Acquires ResX Warehouse Lending Portfolio

AMESBURY, Mass., Oct.  17, 2019  (GLOBE NEWSWIRE) -- Provident Bancorp, Inc. (the “Company”) (NasdaqCM: PVBC), the holding company for The Provident Bank (the “Bank”), reported net income for the three months ended September 30, 2019 of $3.5 million, or $0.37 per diluted share, compared to $2.1 million, or $0.22 per diluted share, for the three months ended September 30, 2018. Net income for the nine months ended September 30, 2019 was $8.3 million, or $0.88 per diluted share, compared to $6.5 million, or $0.70 per diluted share, for the nine months ended September 30, 2018.

Provident Bancorp, Inc. Reports Earnings for the September 30, 2019 Quarter

AMESBURY, Mass., Oct.  16, 2019  (GLOBE NEWSWIRE) -- Provident Bancorp, Inc. (the “Company”) announced today that Provident Bancorp (the “MHC”) has completed its conversion from the mutual holding company to the stock holding company form of organization (the “Conversion”) and the Company has completed it related stock offering. As a result of the closing of the Conversion, the Company is now the holding company of The Provident Bank (the “Bank”). The MHC and the Bank’s previous mid-tier holding company, also named Provident Bancorp, Inc. (“Old Provident”), ceased to exist effective upon the closing of the Conversion. The results of the stock offering were previously reported in Old Provident’s press release dated October 11, 2019.

Provident Bancorp, Inc. Announces Completion of Stock Offering and Related Conversion

AMESBURY, Mass., Oct.  11, 2019  (GLOBE NEWSWIRE) -- Provident Bancorp, Inc. (the “Company”), the stock holding company of The Provident Bank, announced today that it has received all required regulatory approvals for the conversion of Provident Bancorp (the “MHC”) from the mutual holding company to the stock holding company form of organization (the “Conversion”).  The closing of the Conversion and the related subscription and community offerings is expected to occur at the close of business on October 16, 2019, subject to customary closing conditions.

Provident Bancorp, Inc. Announces Results of Stock Offering and Expected Closing Date

AMESBURY, Mass., Sept.  17, 2019  (GLOBE NEWSWIRE) -- Provident Bancorp, Inc. (the “Company”), the stock holding company of The Provident Bank, announced today that Provident Bancorp, Inc., a newly formed Maryland corporation (“New Provident”) that is the proposed successor holding company for The Provident Bank, has ended its community stock offering in connection with the Company’s previously announced plans to become a fully public company.

Provident Bancorp, Inc. Ends Community Offering

AMESBURY, Mass., Sept.  12, 2019  (GLOBE NEWSWIRE) -- Provident Bancorp, Inc. (the “Company”), the stock holding company of The Provident Bank, announced today that Provident Bancorp, Inc., a newly formed Maryland corporation (“New Provident”) that is the proposed successor holding company for The Provident Bank, has concluded its subscription offering and is commencing its community offering as part of the stock offering in connection with the Company’s previously announced plans to become a fully public company.

Provident Bancorp, Inc. to Commence Community Offering

The Provident Bank is now offering deposit services for cryptocurrency-related businesses.

Provident wants to be the crypto industry's bank

News for Provident Bancorp Stock (PVBC)