2019 Q4 Form 10-K Financial Statement

#000177878421000012 Filed on March 26, 2021

View on sec.gov

Income Statement

Concept 2019 Q4 2019 Q3 2019 Q2
Revenue $13.36M $13.32M $12.73M
YoY Change
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 $430.0K $190.0K $370.0K
YoY Change 152.94% 5.56% 105.56%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.788M $2.259M $2.130M
YoY Change
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $3.400M $4.804M $3.420M
YoY Change -10.76% 70.35% 5.88%
Income Tax $849.0K $1.295M $889.0K
% Of Pretax Income 24.97% 26.96% 25.99%
Net Earnings $2.551M $3.509M $2.531M
YoY Change -10.18% 68.7% 5.9%
Net Earnings / Revenue 19.09% 26.35% 19.88%
Basic Earnings Per Share $0.15 $0.19 $0.14
Diluted Earnings Per Share $0.15 $0.19 $0.14
COMMON SHARES
Basic Shares Outstanding 18.01M 18.79M 18.76M
Diluted Shares Outstanding 18.14M 18.97M 18.90M

Balance Sheet

Concept 2019 Q4 2019 Q3 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $59.66M $38.97M $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 $14.73M $24.10M $22.80M
YoY Change -8.52% 61.74% 59.44%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $7.200M $6.300M $6.400M
YoY Change 12.5% 18.87% 23.08%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.122B $1.078B $1.031B
YoY Change 15.16% 17.83% 11.43%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $3.900M $3.900M $3.900M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.900M $3.900M $3.900M
YoY Change
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00 $0.00
YoY Change
Other Long-Term Liabilities $12.10M $11.40M $10.10M
YoY Change -2.42% -2.56% -10.62%
Total Long-Term Liabilities $12.10M $11.40M $10.10M
YoY Change -2.42% -2.56% -10.62%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.900M $3.900M $3.900M
Total Long-Term Liabilities $12.10M $11.40M $10.10M
Total Liabilities $890.9M $942.5M $899.4M
YoY Change 4.99% 18.85% 11.66%
SHAREHOLDERS EQUITY
Retained Earnings $94.16M
YoY Change
Common Stock $195.0K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $230.9M $135.9M $131.8M
YoY Change
Total Liabilities & Shareholders Equity $1.122B $1.078B $1.031B
YoY Change 15.16% 17.83% 11.43%

Cashflow Statement

Concept 2019 Q4 2019 Q3 2019 Q2
OPERATING ACTIVITIES
Net Income $2.551M $3.509M $2.531M
YoY Change -10.18% 68.7% 5.9%
Depreciation, Depletion And Amortization $430.0K $190.0K $370.0K
YoY Change 152.94% 5.56% 105.56%
Cash From Operating Activities $6.150M $7.000M $1.910M
YoY Change 31.41% 82.77% -62.55%
INVESTING ACTIVITIES
Capital Expenditures -$1.080M -$1.470M -$1.750M
YoY Change -18.18% 86.08% 660.87%
Acquisitions
YoY Change
Other Investing Activities -$23.41M -$36.73M -$25.76M
YoY Change -57.64% 204.06% 198.84%
Cash From Investing Activities -$24.48M -$38.21M -$27.50M
YoY Change -56.74% 196.89% 210.73%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 39.02M 41.90M 30.15M
YoY Change -28.46% -427.86% 3.15%
NET CHANGE
Cash From Operating Activities 6.150M 7.000M 1.910M
Cash From Investing Activities -24.48M -38.21M -27.50M
Cash From Financing Activities 39.02M 41.90M 30.15M
Net Change In Cash 20.69M 10.69M 4.560M
YoY Change 686.69% -148.99% -82.1%
FREE CASH FLOW
Cash From Operating Activities $6.150M $7.000M $1.910M
Capital Expenditures -$1.080M -$1.470M -$1.750M
Free Cash Flow $7.230M $8.470M $3.660M
YoY Change 20.5% 83.33% -31.33%

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CY2020 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
-2023000
CY2019 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
-989000
CY2020 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
5597000
CY2019 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
5326000
CY2020 pvbc Depreciation Depletion And Amortization Including Leases
DepreciationDepletionAndAmortizationIncludingLeases
1091000
CY2019 pvbc Depreciation Depletion And Amortization Including Leases
DepreciationDepletionAndAmortizationIncludingLeases
1391000
CY2019 us-gaap Gain Loss On Sale Of Property Plant Equipment
GainLossOnSaleOfPropertyPlantEquipment
9000
CY2020 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
3267000
CY2019 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
216000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2202000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1049000
CY2020 us-gaap Share Based Compensation
ShareBasedCompensation
1089000
CY2019 us-gaap Share Based Compensation
ShareBasedCompensation
999000
CY2020 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
809000
CY2019 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
699000
CY2019 pvbc Increase Decrease In Sale Of Other Real Estate Owned
IncreaseDecreaseInSaleOfOtherRealEstateOwned
138000
CY2020 pvbc Principal Repayments Of Operating Lease Liabilities
PrincipalRepaymentsOfOperatingLeaseLiabilities
82000
CY2019 pvbc Principal Repayments Of Operating Lease Liabilities
PrincipalRepaymentsOfOperatingLeaseLiabilities
61000
CY2020 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
785000
CY2019 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
810000
CY2020 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
2434000
CY2019 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-200000
CY2020 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
18181000
CY2019 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
17508000
CY2019 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
13729000
CY2019 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
13565000
CY2020 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
10114000
CY2019 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
10629000
CY2020 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-521000
CY2019 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-1234000
CY2020 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
296472000
CY2019 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
124358000
CY2020 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
66962000
CY2020 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
911000
CY2019 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
6245000
CY2019 pvbc Additions To Other Real Estate Owned
AdditionsToOtherRealEstateOwned
64000
CY2019 us-gaap Proceeds From Sale Of Machinery And Equipment
ProceedsFromSaleOfMachineryAndEquipment
85000
CY2020 us-gaap Payments To Acquire Life Insurance Policies
PaymentsToAcquireLifeInsurancePolicies
8950000
CY2019 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
1878000
CY2019 pvbc Cash Received From Provident Bancorp
CashReceivedFromProvidentBancorp
372000
CY2020 pvbc Write Down Of Other Assets And Receivables Investing Activities
WriteDownOfOtherAssetsAndReceivablesInvestingActivities
2207000
CY2020 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-360453000
CY2019 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-116633000
CY2020 us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
160991000
CY2019 us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
84787000
CY2020 us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
226532000
CY2019 us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
-2978000
CY2020 us-gaap Payments Of Dividends
PaymentsOfDividends
1636000
CY2019 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-38024000
CY2020 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
11498000
CY2019 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
5000000
CY2020 pvbc Shares Surrendered Related To Tax Withholdings On Restricted Stock Awards
SharesSurrenderedRelatedToTaxWithholdingsOnRestrictedStockAwards
131000
CY2019 pvbc Shares Surrendered Related To Tax Withholdings On Restricted Stock Awards
SharesSurrenderedRelatedToTaxWithholdingsOnRestrictedStockAwards
193000
CY2020 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
7825000
CY2019 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
91578000
CY2020 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
366433000
CY2019 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
130170000
CY2020 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
24161000
CY2019 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
31045000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59658000
CY2018Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
28613000
CY2020Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
83819000
CY2019Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
59658000
CY2020 us-gaap Interest Paid Net
InterestPaidNet
5932000
CY2019 us-gaap Interest Paid Net
InterestPaidNet
8148000
CY2020 us-gaap Income Taxes Paid
IncomeTaxesPaid
6264000
CY2019 us-gaap Income Taxes Paid
IncomeTaxesPaid
5008000
CY2020 pvbc Recognition Of Right Of Use Assets In Premises And Equipment
RecognitionOfRightOfUseAssetsInPremisesAndEquipment
693000
CY2019 pvbc Recognition Of Right Of Use Assets In Premises And Equipment
RecognitionOfRightOfUseAssetsInPremisesAndEquipment
3836000
CY2020 pvbc Recognition Of Operating Lease Liabilities
RecognitionOfOperatingLeaseLiabilities
693000
CY2019 pvbc Recognition Of Operating Lease Liabilities
RecognitionOfOperatingLeaseLiabilities
3938000
CY2019 pvbc Reclassification Of Accrued Rent From Other Liabilities To Premises And Equipment
ReclassificationOfAccruedRentFromOtherLiabilitiesToPremisesAndEquipment
102000
CY2019 pvbc Loan Originated From Sale Of Premises And Equipment
LoanOriginatedFromSaleOfPremisesAndEquipment
6455000
CY2019 pvbc Transfer To Other Estate
TransferToOtherEstate
740000
CY2020 us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
3000
CY2020 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;">NOTE 1 — NATURE OF OPERATIONS</span><span id="Notes" style="text-decoration: none;"/><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: .001pt;margin-left: 0;margin-right: 0;margin-top: 0;"><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: .001pt;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;">Provident Bancorp, Inc. (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 Provident Bank (“BankProv” or 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 (the “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: .001pt;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: .001pt;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 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, commercial loans and mortgage warehouse 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>
CY2019Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
19484343
CY2020 pvbc Number Of Banking Offices
NumberOfBankingOffices
7
CY2020 us-gaap Use Of Estimates
UseOfEstimates
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: italic;font-weight: normal;margin: 0;padding: 0;text-decoration: underline;">Use of Estimates</span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: .001pt;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: .001pt;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;">To prepare financial statements in conformity with GAAP management makes estimates and assumptions based on available information. These estimates and assumptions affect the amounts reported in the financial statements and the disclosures provided, and actual results could differ.</span></p>
CY2020 us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: italic;font-weight: normal;margin: 0;padding: 0;text-decoration: underline;">Significant Concentrations of Credit Risk</span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: .001pt;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: .001pt;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 primary lending area for the includes Northeastern Massachusetts and Southern New Hampshire, with a focus on Essex County, Massachusetts, and Hillsborough and Rockingham Counties, New Hampshire, which are part of, and bedroom communities to, the technology corridor between Boston, Massachusetts and Concord, New Hampshire. In 2018, the Bank started offering its enterprise value loan product nationally. In 2020, the Bank purchased a warehouse lending business which is located in Ponte Vedra, Florida and targets national credit worthy, small to mid-cap non-bank mortgage origination companies for facility lines. The primary deposit-gathering area is currently concentrated in Essex County, Massachusetts, and Rockingham County and Hillsborough County, New Hampshire. The Company believes that it does not have any significant loan concentrations or investment securities in any one industry or with any customer.</span></p>
CY2020 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<span style="white-space:pre-wrap; font-family: 'Times New Roman', 'serif';font-size: 10pt;font-style: italic;font-weight: normal;margin: 0;padding: 0;text-decoration: underline;">Reclassification</span><p dir="ltr" style="font-family: 'Times New Roman', 'serif';font-size: 10pt;line-height: 108%;margin-bottom: .001pt;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: .001pt;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;">Certain amounts in the prior year have been reclassified to be consistent with the current year's consolidated financial statement presentation, and the reclassifications had no effect on the net income reported in the consolidated income statement.</span></p>
CY2020 pvbc Par Value Of Stock Bought From And Sold To Federal Home Loan Bank
ParValueOfStockBoughtFromAndSoldToFederalHomeLoanBank
100
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
30815000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
1410000
CY2020Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
10000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
32215000
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
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
919000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
963000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
912000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
917000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
8380000
CY2020Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
9014000
CY2020Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
30815000
CY2020Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
32215000
CY2020 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0
CY2020 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
0
CY2019 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
216000
CY2019 us-gaap Debt Securities Available For Sale Realized Loss
DebtSecuritiesAvailableForSaleRealizedLoss
103000
CY2020Q4 pvbc Securities Of Issuers Whose Aggregate Carrying Amount Exceeded Threshold Percentage
SecuritiesOfIssuersWhoseAggregateCarryingAmountExceededThresholdPercentage
0
CY2020Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
21300000
CY2019Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
30600000
CY2020Q4 pvbc Debt Securities Available For Sale Total Number Of Positions
DebtSecuritiesAvailableForSaleTotalNumberOfPositions
56
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
3
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
817000
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
10000
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
817000
CY2020Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
10000
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
CY2020Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1337563000
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
975342000
CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
18518000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13844000
CY2020Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
4235000
CY2019Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
2212000
CY2020Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1314810000
CY2019Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
959286000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13844000
CY2020 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
1089000
CY2020 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
166000
CY2020 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
5597000
CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
18518000
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
2024000
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
16494000
CY2020Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
18518000
CY2020Q4 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
25659000
CY2020Q4 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
1311904000
CY2020Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1337563000
CY2018Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
11680000
CY2019 us-gaap Allowance For Loan And Lease Losses Write Offs
AllowanceForLoanAndLeaseLossesWriteOffs
3305000
CY2019 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
143000
CY2019 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
5326000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
13844000
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
CY2020Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
360500000
CY2019Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
450600000
CY2020Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
6426000
CY2020Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
1331137000
CY2020Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1337563000
CY2020Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
5419000
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
CY2020Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
21635000
CY2020Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
21915000
CY2020 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
21996000
CY2020 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeCashBasisMethod
377000
CY2020Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
4024000
CY2020Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
4605000
CY2020Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
2024000
CY2020 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
4177000
CY2020 us-gaap Impaired Financing Receivable With Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithRelatedAllowanceInterestIncomeCashBasisMethod
1000
CY2020Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
25659000
CY2020Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
26520000
CY2020Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
2024000
CY2020 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
26173000
CY2020 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
378000
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
CY2019 us-gaap Impaired Financing Receivable With No Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceAverageRecordedInvestment
5043000
CY2019 us-gaap Impaired Financing Receivable With No Related Allowance Interest Income Cash Basis Method
ImpairedFinancingReceivableWithNoRelatedAllowanceInterestIncomeCashBasisMethod
101000
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 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
1682000
CY2019 us-gaap Impaired Financing Receivable With Related Allowance Average Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceAverageRecordedInvestment
21893000
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
CY2019 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
26936000
CY2019 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
101000
CY2020 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
10
CY2020 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
18892000
CY2020 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
20392000
CY2019 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
2
CY2019 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
2640000
CY2019 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
2640000
CY2020 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
10
CY2020 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
10
CY2020 pvbc Impairment Analysis Performed And Specific Reserve
ImpairmentAnalysisPerformedAndSpecificReserve
157000
CY2020Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
23300000
CY2019Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
4200000
CY2020Q4 us-gaap Loans And Leases Receivable Impaired Commitment To Lend
LoansAndLeasesReceivableImpairedCommitmentToLend
0
CY2020Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1337563000
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
975342000
CY2018Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
11957000
CY2019 us-gaap Loans And Leases Receivable Related Parties Additions
LoansAndLeasesReceivableRelatedPartiesAdditions
5303000
CY2019 pvbc Loans And Leases Receivable Related Parties Principal Payments
LoansAndLeasesReceivableRelatedPartiesPrincipalPayments
-13555000
CY2019Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
3705000
CY2019Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
3705000
CY2020 us-gaap Loans And Leases Receivable Related Parties Additions
LoansAndLeasesReceivableRelatedPartiesAdditions
12329000
CY2020 pvbc Loans And Leases Receivable Related Parties Principal Payments
LoansAndLeasesReceivableRelatedPartiesPrincipalPayments
-656000
CY2020Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
15378000
CY2020Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
25086000
CY2019Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
24234000
CY2020Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
10370000
CY2019Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
9506000
CY2020Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14716000
CY2019Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
14728000
CY2020 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
944000
CY2019 us-gaap Depreciation Depletion And Amortization
DepreciationDepletionAndAmortization
1200000
CY2020Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
554095000
CY2019Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
369423000
CY2020Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
151341000
CY2019Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
115593000
CY2020Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
353793000
CY2019Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
270471000
CY2020Q4 us-gaap Deposits Money Market Deposits And Negotiable Order Of Withdrawal Now
DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW
1059229000
CY2019Q4 us-gaap Deposits Money Market Deposits And Negotiable Order Of Withdrawal Now
DepositsMoneyMarketDepositsAndNegotiableOrderOfWithdrawalNOW
755487000
CY2020Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
5167000
CY2019Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
15575000
CY2020Q4 pvbc Time Deposits Less Than250000
TimeDepositsLessThan250000
173032000
CY2019Q4 pvbc Time Deposits Less Than250000
TimeDepositsLessThan250000
78843000
CY2020Q4 us-gaap Time Deposits
TimeDeposits
178199000
CY2019Q4 us-gaap Time Deposits
TimeDeposits
94418000
CY2020Q4 us-gaap Deposits
Deposits
1237428000
CY2019Q4 us-gaap Deposits
Deposits
849905000
CY2020Q4 us-gaap Interest Bearing Domestic Deposit Brokered
InterestBearingDomesticDepositBrokered
114100000
CY2019Q4 us-gaap Interest Bearing Domestic Deposit Brokered
InterestBearingDomesticDepositBrokered
48600000
CY2020Q4 us-gaap Time Deposit Maturities Year One
TimeDepositMaturitiesYearOne
139794000
CY2020Q4 us-gaap Time Deposit Maturities Year Two
TimeDepositMaturitiesYearTwo
36161000
CY2020Q4 us-gaap Time Deposit Maturities Year Three
TimeDepositMaturitiesYearThree
897000
CY2020Q4 us-gaap Time Deposit Maturities Year Four
TimeDepositMaturitiesYearFour
175000
CY2020Q4 us-gaap Time Deposit Maturities Year Five
TimeDepositMaturitiesYearFive
1172000
CY2020Q4 us-gaap Time Deposits
TimeDeposits
178199000
CY2020Q4 us-gaap Related Party Deposit Liabilities
RelatedPartyDepositLiabilities
8800000
CY2019Q4 us-gaap Related Party Deposit Liabilities
RelatedPartyDepositLiabilities
7800000
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
11498000
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
5000000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
8500000
CY2019Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
8500000
CY2020Q4 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
5000000
CY2020Q4 us-gaap Long Term Debt
LongTermDebt
13500000
CY2019Q4 us-gaap Long Term Debt
LongTermDebt
24998000
CY2020 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
4906000
CY2019 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
3477000
CY2020 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1928000
CY2019 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
1392000
CY2020 pvbc Net Operating Loss Carryforward
NetOperatingLossCarryforward
7000
CY2019 pvbc Net Operating Loss Carryforward
NetOperatingLossCarryforward
9000
CY2020 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
6827000
CY2019 us-gaap Current Income Tax Expense Benefit
CurrentIncomeTaxExpenseBenefit
4860000
CY2020 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-1525000
CY2019 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
-724000
CY2020 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-677000
CY2019 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-325000
CY2020 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-2202000
CY2019 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-1049000
CY2020 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
4625000
CY2019 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
3811000
CY2020 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2019 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2020 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.060
CY2019 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.058
CY2020 pvbc Effective Income Tax Rate Reconciliation Tax Exempt Income Percent And Dividends Received Deduction
EffectiveIncomeTaxRateReconciliationTaxExemptIncomePercentAndDividendsReceivedDeduction
-0.004
CY2019 pvbc Effective Income Tax Rate Reconciliation Tax Exempt Income Percent And Dividends Received Deduction
EffectiveIncomeTaxRateReconciliationTaxExemptIncomePercentAndDividendsReceivedDeduction
-0.006
CY2020 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
0.012
CY2019 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001
CY2020 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.278
CY2019 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.261
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
5132000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
3837000
CY2019Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
71000
CY2019Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
2849000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
2707000
CY2020Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
1174000
CY2019Q4 us-gaap Deferred Tax Assets Deferred Income
DeferredTaxAssetsDeferredIncome
613000
CY2020Q4 pvbc Deferred Tax Assets Write Down Other Assets And Receivables
DeferredTaxAssetsWriteDownOtherAssetsAndReceivables
111000
CY2020Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Contingencies
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies
37000
CY2019Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Contingencies
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsContingencies
31000
CY2020Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
344000
CY2019Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
164000
CY2020Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
9647000
CY2019Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7430000
CY2020Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
5000
CY2020Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
60000
CY2019Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
43000
CY2019Q4 pvbc Deferred Tax Liabilities Fhlb Restructure Fees
DeferredTaxLiabilitiesFhlbRestructureFees
8000
CY2020Q4 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
342000
CY2019Q4 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
137000
CY2020Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
407000
CY2019Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
188000
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
9240000
CY2019Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
7242000
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3463
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.3115
CY2020 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y6M
CY2019 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P7Y6M
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0104
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0066
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0183
CY2020 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
3.79
CY2019 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
4.80
CY2020 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11985000
CY2019 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
10808000
CY2020 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
19422096
CY2019 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
19511700
CY2020 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
1207892
CY2019 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
1345983
CY2020 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
123975
CY2019 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
152682
CY2019 us-gaap Weighted Average Number Of Shares Treasury Stock
WeightedAverageNumberOfSharesTreasuryStock
54849
CY2020 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
18090229
CY2019 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17958186
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CY2019Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Two
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Three
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Four
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due In Rolling Year Five
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due After Rolling Year Five
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CY2020Q4 us-gaap Lessee Operating Lease Liability Payments Due
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CY2020Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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3170000
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CY2019Q4 us-gaap Assets Fair Value Disclosure
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CY2020Q1 us-gaap Interest And Dividend Income Operating
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CY2019Q1 us-gaap Interest And Dividend Income Operating
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CY2020Q2 us-gaap Interest And Dividend Income Operating
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CY2019Q2 us-gaap Interest And Dividend Income Operating
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CY2020Q3 us-gaap Interest And Dividend Income Operating
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CY2019Q3 us-gaap Interest And Dividend Income Operating
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CY2019Q4 us-gaap Interest And Dividend Income Operating
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13362000
CY2020Q1 us-gaap Interest Expense
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CY2019Q1 us-gaap Interest Expense
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CY2020Q2 us-gaap Interest Expense
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CY2019Q2 us-gaap Interest Expense
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CY2019Q3 us-gaap Interest Expense
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2259000
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InterestExpense
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CY2019Q4 us-gaap Interest Expense
InterestExpense
1788000
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10601000
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CY2019Q3 us-gaap Interest Income Expense Net
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15370000
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CY2019Q2 us-gaap Provision For Loan And Lease Losses
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1354000
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CY2019Q4 us-gaap Provision For Loan And Lease Losses
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CY2019Q1 us-gaap Debt And Equity Securities Realized Gain Loss
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CY2019Q1 pvbc Other Income Without Gain On Sale Of Securities
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CY2020Q2 pvbc Other Income Without Gain On Sale Of Securities
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CY2019Q2 pvbc Other Income Without Gain On Sale Of Securities
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CY2020Q3 pvbc Other Income Without Gain On Sale Of Securities
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CY2019Q3 pvbc Other Income Without Gain On Sale Of Securities
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CY2020Q4 pvbc Other Income Without Gain On Sale Of Securities
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CY2020Q1 us-gaap Noninterest Income
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CY2019Q2 us-gaap Noninterest Income
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CY2020Q3 us-gaap Noninterest Income
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CY2019Q4 us-gaap Noninterest Income
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CY2020Q1 us-gaap Noninterest Expense
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CY2019Q4 us-gaap Noninterest Expense
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CY2020Q1 us-gaap Income Tax Expense Benefit
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CY2019Q4 us-gaap Income Tax Expense Benefit
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CY2019Q1 us-gaap Net Income Loss
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CY2019Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2019Q4 us-gaap Weighted Average Number Of Shares Outstanding Basic
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CY2020Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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18222766
CY2019Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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CY2020Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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18007580
CY2019Q4 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
18135220

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