$PVBC
Provident Bancorp Inc (Maryland)

2020 Q2 Form 10-Q Financial Statement

#000177878420000019 Filed on August 17, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2 2019 Q1
Revenue $14.65M $12.73M $12.13M
YoY Change 15.1%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $270.0K $370.0K $400.0K
YoY Change -27.03% 105.56% 110.53%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.619M $2.130M $1.971M
YoY Change -23.99%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $4.506M $3.420M $3.000M
YoY Change 31.75% 5.88% 11.11%
Income Tax $1.256M $889.0K $778.0K
% Of Pretax Income 27.87% 25.99% 25.93%
Net Earnings $3.250M $2.531M $2.218M
YoY Change 28.41% 5.9% 9.8%
Net Earnings / Revenue 22.18% 19.88% 18.29%
Basic Earnings Per Share $0.18 $0.14 $0.12
Diluted Earnings Per Share $0.18 $0.14 $0.12
COMMON SHARES
Basic Shares Outstanding 18.15M 18.76M 18.73M
Diluted Shares Outstanding 18.18M 18.90M 18.81M

Balance Sheet

Concept 2020 Q2 2019 Q2 2019 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $38.18M $28.28M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $14.77M $22.80M $21.50M
YoY Change -35.21% 59.44% 50.35%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $6.400M $6.600M
YoY Change 23.08% 24.53%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.415B $1.031B $998.5M
YoY Change 37.2% 11.43% 12.04%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $4.500M $3.900M $3.900M
YoY Change 15.38%
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.500M $3.900M $3.900M
YoY Change 15.38%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.50M $10.10M $11.10M
YoY Change 13.86% -10.62% 24.72%
Total Long-Term Liabilities $11.50M $10.10M $11.10M
YoY Change 13.86% -10.62% 24.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.500M $3.900M $3.900M
Total Long-Term Liabilities $11.50M $10.10M $11.10M
Total Liabilities $1.178B $899.4M $870.2M
YoY Change 31.03% 11.66% 12.46%
SHAREHOLDERS EQUITY
Retained Earnings $98.06M
YoY Change
Common Stock $195.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $236.3M $131.8M $128.3M
YoY Change
Total Liabilities & Shareholders Equity $1.415B $1.031B $998.5M
YoY Change 37.2% 11.43% 12.04%

Cashflow Statement

Concept 2020 Q2 2019 Q2 2019 Q1
OPERATING ACTIVITIES
Net Income $3.250M $2.531M $2.218M
YoY Change 28.41% 5.9% 9.8%
Depreciation, Depletion And Amortization $270.0K $370.0K $400.0K
YoY Change -27.03% 105.56% 110.53%
Cash From Operating Activities $4.350M $1.910M $2.450M
YoY Change 127.75% -62.55% -21.97%
INVESTING ACTIVITIES
Capital Expenditures -$70.00K -$1.750M -$1.950M
YoY Change -96.0% 660.87% 3150.0%
Acquisitions
YoY Change
Other Investing Activities -$143.9M -$25.76M -$24.49M
YoY Change 458.62% 198.84% 48.69%
Cash From Investing Activities -$144.0M -$27.50M -$26.44M
YoY Change 423.53% 210.73% 59.95%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 143.4M 30.15M 19.10M
YoY Change 375.56% 3.15% -259.43%
NET CHANGE
Cash From Operating Activities 4.350M 1.910M 2.450M
Cash From Investing Activities -144.0M -27.50M -26.44M
Cash From Financing Activities 143.4M 30.15M 19.10M
Net Change In Cash 3.760M 4.560M -4.890M
YoY Change -17.54% -82.1% -80.73%
FREE CASH FLOW
Cash From Operating Activities $4.350M $1.910M $2.450M
Capital Expenditures -$70.00K -$1.750M -$1.950M
Free Cash Flow $4.420M $3.660M $4.400M
YoY Change 20.77% -31.33% 37.5%

Facts In Submission

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CY2019Q2 us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
760000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
731000
us-gaap Other Comprehensive Income Unrealized Holding Gain Loss On Securities Arising During Period Before Tax
OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodBeforeTax
975000
us-gaap Other Comprehensive Income Loss Reclassification Adjustment From Aoci For Sale Of Securities Before Tax
OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesBeforeTax
113000
CY2020Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
721000
CY2019Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
760000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
731000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentBeforeTax
862000
CY2020Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
160000
CY2019Q2 us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
190000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
187000
us-gaap Other Comprehensive Income Loss Available For Sale Securities Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesTax
223000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
561000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
570000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
544000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
639000
CY2020Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3811000
CY2019Q2 us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
3101000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5025000
us-gaap Comprehensive Income Net Of Tax
ComprehensiveIncomeNetOfTax
5388000
CY2020Q1 us-gaap Stockholders Equity
StockholdersEquity
232658000
CY2020Q2 us-gaap Net Income Loss
NetIncomeLoss
3250000
CY2020Q2 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.03
CY2020Q2 us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
583000
CY2020Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
561000
CY2020Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
242000
CY2020Q2 pvbc Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Ownership Plan Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockOwnershipPlanRequisiteServicePeriodRecognition
194000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
236322000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
128272000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
2531000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
570000
CY2019Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
245000
CY2019Q2 pvbc Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Ownership Plan Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockOwnershipPlanRequisiteServicePeriodRecognition
145000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
131763000
CY2019Q4 us-gaap Stockholders Equity
StockholdersEquity
230933000
us-gaap Net Income Loss
NetIncomeLoss
4481000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.03
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
583000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
544000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
503000
pvbc Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Ownership Plan Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockOwnershipPlanRequisiteServicePeriodRecognition
444000
CY2020Q2 us-gaap Stockholders Equity
StockholdersEquity
236322000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
125584000
us-gaap Net Income Loss
NetIncomeLoss
4749000
us-gaap Other Comprehensive Income Loss Net Of Tax
OtherComprehensiveIncomeLossNetOfTax
639000
us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
510000
pvbc Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Ownership Plan Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockOwnershipPlanRequisiteServicePeriodRecognition
281000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
131763000
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2.0212
us-gaap Net Income Loss
NetIncomeLoss
4481000
us-gaap Net Income Loss
NetIncomeLoss
4749000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-144000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-97000
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
444000
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
281000
us-gaap Debt And Equity Securities Unrealized Gain Loss
DebtAndEquitySecuritiesUnrealizedGainLoss
113000
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
-3198000
us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
-357000
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
3971000
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
2816000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
538000
us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
768000
us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
9000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
1652000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
588000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1977000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-185000
us-gaap Share Based Compensation
ShareBasedCompensation
503000
us-gaap Share Based Compensation
ShareBasedCompensation
510000
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
350000
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
350000
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
36000
us-gaap Gain Loss On Sale Of Loans And Leases
GainLossOnSaleOfLoansAndLeases
36000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
186000
us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
1804000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-625000
us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-2129000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
8453000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
4364000
us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
13729000
us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
13565000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
5385000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
3855000
us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-366000
us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
1186000
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
246302000
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
52771000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
66962000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
490000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
3698000
us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
85000
pvbc Additions To Other Real Estate Owned
AdditionsToOtherRealEstateOwned
64000
us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
8950000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-316953000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-53943000
us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
138934000
us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
24204000
us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
131646000
us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
11102000
us-gaap Payments Of Dividends
PaymentsOfDividends
583000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
25023000
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
13941000
us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
8000000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
287020000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
49247000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-21480000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
-332000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59658000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28613000
CY2020Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
38178000
CY2019Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28281000
us-gaap Interest Paid Net
InterestPaidNet
3636000
us-gaap Interest Paid Net
InterestPaidNet
4126000
us-gaap Income Taxes Paid
IncomeTaxesPaid
3380000
us-gaap Income Taxes Paid
IncomeTaxesPaid
2391000
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3000
pvbc Recognition Of Right Of Use Assets In Premises And Equipment
RecognitionOfRightOfUseAssetsInPremisesAndEquipment
693000
pvbc Recognition Of Right Of Use Assets In Premises And Equipment
RecognitionOfRightOfUseAssetsInPremisesAndEquipment
3836000
pvbc Recognition Of Operating Lease Liabilities
RecognitionOfOperatingLeaseLiabilities
693000
pvbc Recognition Of Operating Lease Liabilities
RecognitionOfOperatingLeaseLiabilities
3938000
pvbc Reclassification Of Accrued Rent From Other Liabilities To Premises And Equipment
ReclassificationOfAccruedRentFromOtherLiabilitiesToPremisesAndEquipment
102000
us-gaap Basis Of Accounting
BasisOfAccounting
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">(1)    </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Basis of Presentation</span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;text-align: justify;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">The accompanying unaudited financial statements of Provident Bancorp, Inc., a Maryland corporation (the “Company”), were prepared in accordance with the instructions for Form 10-Q and with Regulation S-X and do not include information or footnotes necessary for a complete presentation of the financial condition, results of operations, and cash flows in conformity with U.S. generally accepted accounting principles (“GAAP”). However, in the opinion of management, all adjustments (consisting only of normal and recurring adjustments) necessary for a fair presentation of the financial statements have been included. The results of operations for the three and six month periods ended June 30, 2020 are not necessarily indicative of the results that may be expected for future periods, including the entire fiscal year. </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">Certain amounts in 2019 have been reclassified to be consistent with the 2020 consolidated financial statement presentation, and had no effect on the net income reported in the consolidated statement of income. </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">These financial statements should be read in conjunction with the annual financial statements and notes thereto included in the annual report on Form 10-K the Company filed with the Securities and Exchange Commission (the “SEC”) on March 13, 2020. </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;text-align: justify;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;text-align: justify;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">The consolidated financial statements include the accounts of the Company, its wholly owned subsidiary, The Provident Bank, which also operates under the name BankProv (the “Bank”), and the Bank’s wholly owned subsidiaries, Provident Security Corporation and 5 Market Street Security Corporation. Provident Security Corporation and 5 Market Street Security Corporation were established to buy, sell, and hold investments for their own account. All significant inter-company balances and transactions have been eliminated in consolidation.</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span>
us-gaap Nature Of Operations
NatureOfOperations
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">(2)    </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;">Corporate Structure</span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: bold;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;text-align: justify;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">The Company </span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">is a Maryland corporation that was incorporated in June 2019 to be the successor corporation to Provident Bancorp, Inc. (“Old Provident”), a Massachusetts corporation, upon completion of the second-step mutual-to-stock conversion (the “Conversion”) of Provident Bancorp (the “MHC”), the top tier mutual holding company of Old Provident. Old Provident was the former mid-tier holding company for the Bank. Prior to completion of the Conversion, approximately </span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">52</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">% of the shares of common stock of Old Provident were owned by the MHC. In conjunction with the Conversion, the MHC was merged into the Company (and ceased to exist) and the Company became its successor under the name Provident Bancorp, Inc. The Conversion was completed on October 16, 2019. The Company raised gross proceeds of $</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">102.1</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> million by selling </span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">10,212,397</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> shares of common stock at $</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">10.00</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> per share in the second-step stock offering. The Company utilized $</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">8.2</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> million of the proceeds to lend to its Employee Stock Ownership Plan (“ESOP”) for the acquisition of an additional </span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">816,992</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> shares at $</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">10.00</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> per share. Expenses incurred related to the offering were $</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">2.4</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> million, and have been recorded against offering proceeds. The Company invested $</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">45.8</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> million of the net proceeds it received from the sale into the Bank’s operations and has retained the remaining amount for general corporate purposes. Concurrent with the completion of the stock offering, each share of Old Provident common stock owned by public stockholders (stockholders other than the MHC) was exchanged for </span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">2.0212</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> shares of Company common stock. A total of </span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">19,484,343</span><span style="white-space:pre-wrap; color: #242021;font-family: TimesNRMTPro;font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> shares of common stock were outstanding following the completion of the stock offering.</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;text-align: justify;"><span style="white-space:pre-wrap; font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span></p><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: 0;margin-left: 0;margin-right: 0;margin-top: 0;text-align: justify;"><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">The Bank, headquartered in Amesbury, Massachusetts operates its business from </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">seven</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> banking offices located in Amesbury and Newburyport, Massachusetts and Portsmouth, Exeter, Bedford, and Seabrook, New Hampshire. The Bank also has </span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;">two</span><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> loan production offices in Boston, Massachusetts and Ponte Vedra, Florida. The Bank provides a variety of financial services to small businesses and individuals. Its primary deposit products are checking, savings and term certificate accounts and its primary lending products are commercial mortgages and commercial loans.</span></p><span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: normal;font-weight: normal;margin: 0;padding: 0;"> </span>
CY2020Q2 pvbc Number Of Banking Offices
NumberOfBankingOffices
7
CY2020Q2 pvbc Number Of Loan Production Offices
NumberOfLoanProductionOffices
2
CY2020Q2 pvbc Modifications Number Of Loans
ModificationsNumberOfLoans
287
CY2020Q2 pvbc Modifications Total Loan Amount
ModificationsTotalLoanAmount
264200000
CY2020Q2 pvbc Modifications Percentage Of Total Loan Portfolio
ModificationsPercentageOfTotalLoanPortfolio
0.206
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
35666000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1338000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
12000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
36992000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
41195000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
666000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
71000
CY2019Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
41790000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
1204000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
1229000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
912000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
917000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
8403000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
8955000
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
35666000
CY2020Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
36992000
pvbc Marketable Securities Gross Realized Gains
MarketableSecuritiesGrossRealizedGains
0
pvbc Marketable Securities Gross Realized Gains
MarketableSecuritiesGrossRealizedGains
216000
pvbc Marketable Securities Gross Realized Losses
MarketableSecuritiesGrossRealizedLosses
103000
CY2020Q2 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
25900000
CY2019Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
30600000
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
402000
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
3000
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
509000
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
9000
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
911000
CY2020Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
12000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
5813000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
12000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
5418000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
59000
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
11231000
CY2019Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
71000
CY2020Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1287659000
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
975342000
CY2020Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
17158000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13844000
CY2020Q2 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
5410000
CY2019Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
2212000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
8500000
CY2020Q2 us-gaap Long Term Debt
LongTermDebt
42021000
CY2020Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1265091000
CY2019Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
959286000
CY2020Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
16674000
CY2020Q2 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
426000
CY2020Q2 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
38000
CY2020Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
872000
CY2020Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
17158000
CY2019Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
11857000
CY2019Q2 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
1456000
CY2019Q2 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
35000
CY2019Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
1354000
CY2019Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
11790000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13844000
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
752000
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
95000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
3971000
CY2020Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
17158000
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
11680000
us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
2770000
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
64000
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
2816000
CY2019Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
11790000
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1901000
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
15257000
CY2020Q2 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
17158000
CY2020Q2 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
27050000
CY2020Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1260609000
CY2020Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1287659000
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
1682000
CY2019Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
12162000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13844000
CY2019Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
24663000
CY2019Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
950679000
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
975342000
CY2020Q2 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
2448000
CY2020Q2 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1285211000
CY2020Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1287659000
CY2020Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
26039000
CY2019Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
23268000
CY2019Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
952074000
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
975342000
CY2019Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
5827000
CY2020Q2 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
2083000
CY2020Q2 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
2090000
CY2019Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
3765000
CY2019Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
4174000
CY2020Q2 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
24967000
CY2020Q2 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
25637000
CY2020Q2 pvbc Impaired Loans With Related Allowance Specific Allowance
ImpairedLoansWithRelatedAllowanceSpecificAllowance
1901000
CY2019Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
20898000
CY2019Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
21006000
CY2019Q4 pvbc Impaired Loans With Related Allowance Specific Allowance
ImpairedLoansWithRelatedAllowanceSpecificAllowance
1682000
CY2020Q2 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
27050000
CY2020Q2 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
27727000
CY2020Q2 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
1901000
CY2019Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
24663000
CY2019Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
25180000
CY2019Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
1682000
CY2020Q2 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
2183000
CY2020Q2 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeCashBasisMethod
15000
CY2019Q2 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
3266000
CY2019Q2 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeCashBasisMethod
19000
CY2020Q2 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
25363000
CY2020Q2 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeCashBasisMethod
41000
CY2019Q2 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
4701000
CY2020Q2 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
27546000
CY2020Q2 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
56000
CY2019Q2 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
7967000
CY2019Q2 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
19000
us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
2230000
us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeCashBasisMethod
43000
us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
3342000
us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeCashBasisMethod
51000
us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
25532000
us-gaap Impaired Financing Receivable With Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeCashBasisMethod
253000
us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
4994000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
27762000
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
296000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
8336000
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
51000
CY2020Q2 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
3
CY2020Q2 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
246000
CY2020Q2 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
246000
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
10
us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
18892000
us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
20392000
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
1
us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
1963000
us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
1963000
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
10
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
10
us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
0
CY2019Q2 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
0
us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
0
CY2020Q2 us-gaap Financing Receivable Modifications Subsequent Default Recorded Investment1
FinancingReceivableModificationsSubsequentDefaultRecordedInvestment1
0
CY2020Q2 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
23900000
CY2019Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
4200000
CY2020Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1287659000
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
975342000
CY2020Q2 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
502772000
CY2019Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
369423000
CY2020Q2 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
154747000
CY2019Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
115593000
CY2020Q2 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
291872000
CY2019Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
270471000
CY2020Q2 us-gaap Deposits Money Market Deposits And Negotiable Order Of Withdrawal Now
DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW
949391000
CY2019Q4 us-gaap Deposits Money Market Deposits And Negotiable Order Of Withdrawal Now
DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW
755487000
CY2020Q2 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
19610000
CY2019Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
15575000
CY2020Q2 pvbc Time Deposits Less Than250000
TimeDepositsLessThan250000
151484000
CY2019Q4 pvbc Time Deposits Less Than250000
TimeDepositsLessThan250000
78843000
CY2020Q2 us-gaap Time Deposits
TimeDeposits
171094000
CY2019Q4 us-gaap Time Deposits
TimeDeposits
94418000
CY2020Q2 us-gaap Deposits
Deposits
1120485000
CY2019Q4 us-gaap Deposits
Deposits
849905000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
28521000
CY2020Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5000000
CY2020Q2 pvbc Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.045
CY2020Q2 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2020Q2 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2020Q2 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2020Q2 pvbc Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.065
CY2020Q2 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2020Q2 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.10
CY2020Q2 pvbc Tier One Leverage Ratio
TierOneLeverageRatio
0.050
pvbc Capital Conservation Buffer Above Required Capital Ratios
CapitalConservationBufferAboveRequiredCapitalRatios
0.025
CY2020Q2 us-gaap Capital
Capital
189668000
CY2020Q2 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.1472
CY2020Q2 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
103053000
CY2020Q2 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2020Q2 us-gaap Capital Required To Be Well Capitalized
CapitalRequiredToBeWellCapitalized
128816000
CY2020Q2 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.100
CY2020Q2 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
173553000
CY2020Q2 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1347
CY2020Q2 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
77290000
CY2020Q2 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2020Q2 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
103053000
CY2020Q2 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2020Q2 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
173553000
CY2020Q2 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.1347
CY2020Q2 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
57967000
CY2020Q2 pvbc Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.045
CY2020Q2 us-gaap Common Equity Tier One Capital Required To Be Well Capitalized
CommonEquityTierOneCapitalRequiredToBeWellCapitalized
83731000
CY2020Q2 pvbc Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.065
CY2020Q2 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
173553000
CY2020Q2 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.1310
CY2020Q2 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
52991000
CY2020Q2 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2020Q2 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
66239000
CY2020Q2 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.050
CY2019Q4 us-gaap Capital
Capital
181135000
CY2019Q4 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.1762
CY2019Q4 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
82238000
CY2019Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2019Q4 us-gaap Capital Required To Be Well Capitalized
CapitalRequiredToBeWellCapitalized
102798000
CY2019Q4 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.100
CY2019Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
168273000
CY2019Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1637
CY2019Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
61679000
CY2019Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2019Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
82238000
CY2019Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2019Q4 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
168273000
CY2019Q4 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.1637
CY2019Q4 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
46259000
CY2019Q4 pvbc Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.045
CY2019Q4 us-gaap Common Equity Tier One Capital Required To Be Well Capitalized
CommonEquityTierOneCapitalRequiredToBeWellCapitalized
66819000
CY2019Q4 pvbc Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.065
CY2019Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
168273000
CY2019Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.1518
CY2019Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
44352000
CY2019Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2019Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
55440000
CY2019Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.050
CY2015Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
721876
CY2015 us-gaap Proceeds From Issuance Initial Public Offering
ProceedsFromIssuanceInitialPublicOffering
3600000
CY2015 pvbc Employee Stock Ownership Plan Esop Payable Term
EmployeeStockOwnershipPlanEsopPayableTerm
P15Y
CY2019 pvbc Proceeds From Issuance Of Common Stock Used For Funding Employee Stock Ownership Plan
ProceedsFromIssuanceOfCommonStockUsedForFundingEmployeeStockOwnershipPlan
8200000
CY2019 pvbc Employee Stock Ownership Plan Esop Payable Term
EmployeeStockOwnershipPlanEsopPayableTerm
P15Y
CY2019 pvbc Employee Stock Ownership Plan Esop Prime Rate Percentage
EmployeeStockOwnershipPlanEsopPrimeRatePercentage
0.0475
CY2019 us-gaap Stock Issued During Period Shares Employee Stock Ownership Plan
StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan
816992
CY2019 us-gaap Employee Stock Ownership Plan Esop Weighted Average Purchase Price Of Shares Purchased
EmployeeStockOwnershipPlanESOPWeightedAveragePurchasePriceOfSharesPurchased
10.00
CY2019 pvbc Stock Issued During Period Percentage Of Shares Sold Employee Stock Ownership Plan
StockIssuedDuringPeriodPercentageOfSharesSoldEmployeeStockOwnershipPlan
0.08
pvbc Employee Stock Ownership Plan Esop Average Price Of Suspense Shares
EmployeeStockOwnershipPlanEsopAveragePriceOfSuspenseShares
8.20
CY2020Q2 us-gaap Shares Held In Employee Stock Option Plan Committed To Be Released
SharesHeldInEmployeeStockOptionPlanCommittedToBeReleased
89757
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
282256
CY2019Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
192499
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
44879
CY2019Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
89757
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
1211733
CY2019Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
1256612
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
1538868
CY2019Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
1538868
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
9500000
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2.0212
CY2020Q2 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
194000
CY2019Q2 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
145000
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
444000
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
281000
CY2020Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3250000
CY2019Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2531000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4481000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
4749000
CY2020Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
19474950
CY2019Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
19521324
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
19475599
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
19525241
CY2020Q2 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
1219215
CY2019Q2 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
528896
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
1230434
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
538797
CY2020Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
105629
CY2019Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
160360
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
113744
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
168330
CY2019Q2 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
73333
us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
73333
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18150106
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18758735
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18131421
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18744781
CY2020Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
29752
CY2019Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
137183
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
66225
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
112122
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18179858
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18895918
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18197646
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18856903
CY2020Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.18
CY2019Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.25
CY2020Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.18
CY2019Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.25
us-gaap Stockholders Equity Note Stock Split Conversion Ratio1
StockholdersEquityNoteStockSplitConversionRatio1
2.0212
CY2020Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
4300000
CY2019Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3700000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4500000
CY2019Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
3900000
pvbc Number Of Branch Locations
NumberOfBranchLocations
2
pvbc Number Of Production Offices
NumberOfProductionOffices
1
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
150000
us-gaap Operating Leases Rent Expense Net
OperatingLeasesRentExpenseNet
144000
CY2020Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0353
CY2019Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0378
CY2019Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P20Y
CY2020Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P28Y
CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P31Y10M24D
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
126000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Rolling Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextRollingTwelveMonths
258000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearTwo
261000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearThree
264000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
LesseeOperatingLeaseLiabilityPaymentsDueInRollingYearFour
270000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterRollingYearFive
6604000
CY2020Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7783000
CY2020Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
3249000
CY2020Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4534000

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