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Provident Bancorp, Inc.

No Longer Reporting

The company has not filed an annual or quarterly report since its Q2 FY2019 10-Q, filed Aug 9, 2019. Its latest SEC filing is a SC 13G/A from Feb 10, 2021.

The sections below describe the company as of the FY2018 annual report.

What Did They Do?

Provides commercial real estate loans to small- and midsize owners and investors in its market area, and offers banking services to depositors.

Who Were Their Customers?

Borrowers reach the bank through relationship managers, walk-ins, its website, networking events, referrals and professional third parties such as brokers.

How Were They Changing?

Since the FY2018 annual report
Latest quarter: Q2 FY2019, the three months to Jun 30, 2019
Revenue
▲ +23%
vs $10.4M in Q2 FY2018
Net income
▲ +6%
vs $2.4M in Q2 FY2018
  • Sep 18, 2019 Community offering ended as part of planned stock conversion The offering was part of the plan to become a fully public stock company.
  • Jun 5, 2019 Boards adopted a plan for a second-step stock conversion The plan reorganizes the company under a fully public stock holding company and includes a stock offering.
  • Apr 11, 2019 Joseph B. Reilly elected board chairman

Who Did They Compete With?

Competes with TD Bank, Bank of America, and Citizens Bank

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