$PVBC
Provident Bancorp, Inc. /MD/

2023 Q2 Form 10-Q Financial Statement

#000177878423000022 Filed on May 16, 2023

View on sec.gov

Income Statement

Concept 2023 Q2 2023 Q1
Revenue $22.88M $20.63M
YoY Change 19.44% 11.8%
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 $273.0K $268.0K
YoY Change 0.37% -0.74%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $7.974M $4.811M
YoY Change 1357.77% 816.38%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $4.920M $2.773M
YoY Change -37.0% -64.22%
Income Tax $1.459M $670.0K
% Of Pretax Income 29.65% 24.16%
Net Earnings $3.461M $2.103M
YoY Change -38.41% -61.94%
Net Earnings / Revenue 15.13% 10.2%
Basic Earnings Per Share $0.21 $0.13
Diluted Earnings Per Share $0.21 $0.13
COMMON SHARES
Basic Shares Outstanding 17.69M 17.67M
Diluted Shares Outstanding 16.57M 16.53M

Balance Sheet

Concept 2023 Q2 2023 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $297.9M $244.2M
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 $17.26M $17.34M
YoY Change 24.27% 23.32%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.72M $15.69M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.762B $1.702B
YoY Change -1.48% -5.01%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $4.227M $4.255M
YoY Change -2.49% -2.43%
Deferred Revenue
YoY Change
Short-Term Debt $70.00M $50.00M
YoY Change -10.26%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.227M $4.255M
YoY Change -2.49% -2.43%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $14.44M $14.23M
YoY Change 16.35% -7.21%
Total Long-Term Liabilities $14.44M $14.23M
YoY Change 16.35% -7.21%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.227M $4.255M
Total Long-Term Liabilities $14.44M $14.23M
Total Liabilities $1.547B $1.491B
YoY Change -0.1% -4.16%
SHAREHOLDERS EQUITY
Retained Earnings $100.9M $97.43M
YoY Change -21.11% -20.75%
Common Stock $177.0K $177.0K
YoY Change 0.0% -0.56%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $215.1M $211.5M
YoY Change
Total Liabilities & Shareholders Equity $1.762B $1.702B
YoY Change -1.48% -5.01%

Cashflow Statement

Concept 2023 Q2 2023 Q1
OPERATING ACTIVITIES
Net Income $3.461M $2.103M
YoY Change -38.41% -61.94%
Depreciation, Depletion And Amortization $273.0K $268.0K
YoY Change 0.37% -0.74%
Cash From Operating Activities $6.899M -$3.066M
YoY Change 83.24% -232.9%
INVESTING ACTIVITIES
Capital Expenditures $193.0K $87.00K
YoY Change -421.67% 155.88%
Acquisitions
YoY Change
Other Investing Activities -$8.638M $100.9M
YoY Change -85.24% 15919.37%
Cash From Investing Activities -$8.831M $100.8M
YoY Change -84.93% 16818.62%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.61M 65.78M
YoY Change -963.81% 9.53%
NET CHANGE
Cash From Operating Activities 6.899M -3.066M
Cash From Investing Activities -8.831M 100.8M
Cash From Financing Activities 55.61M 65.78M
Net Change In Cash 53.68M 163.5M
YoY Change -187.61% 159.76%
FREE CASH FLOW
Cash From Operating Activities $6.899M -$3.066M
Capital Expenditures $193.0K $87.00K
Free Cash Flow $6.706M -$3.153M
YoY Change 75.32% -238.72%

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CY2022Q1 pvbc Shares Surrendered During Period Value Related To Tax Withholdings On Restricted Stock Awards
SharesSurrenderedDuringPeriodValueRelatedToTaxWithholdingsOnRestrictedStockAwards
4000
CY2022Q1 us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
116000
CY2022Q1 pvbc Adjustments To Additional Paid In Capital Share Based Compensation Employee Stock Ownership Plan Requisite Service Period Recognition
AdjustmentsToAdditionalPaidInCapitalShareBasedCompensationEmployeeStockOwnershipPlanRequisiteServicePeriodRecognition
383000
CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
236545000
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
2103000
CY2022Q1 us-gaap Net Income Loss
NetIncomeLoss
5525000
CY2023Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-40000
CY2022Q1 us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-57000
CY2023Q1 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
187000
CY2022Q1 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
383000
CY2023Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
610000
CY2022Q1 us-gaap Amortization Of Deferred Loan Origination Fees Net
AmortizationOfDeferredLoanOriginationFeesNet
1227000
CY2023Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
1779000
CY2022Q1 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
83000
CY2023Q1 pvbc Depreciation Depletion And Amortization Including Leases
DepreciationDepletionAndAmortizationIncludingLeases
268000
CY2022Q1 pvbc Depreciation Depletion And Amortization Including Leases
DepreciationDepletionAndAmortizationIncludingLeases
270000
CY2023Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-761000
CY2022Q1 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
697000
CY2023Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
664000
CY2022Q1 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
546000
CY2023Q1 us-gaap Share Based Compensation
ShareBasedCompensation
319000
CY2022Q1 us-gaap Share Based Compensation
ShareBasedCompensation
445000
CY2023Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
266000
CY2022Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
256000
CY2023Q1 pvbc Principal Repayments Of Operating Lease Liabilities
PrincipalRepaymentsOfOperatingLeaseLiabilities
27000
CY2022Q1 pvbc Principal Repayments Of Operating Lease Liabilities
PrincipalRepaymentsOfOperatingLeaseLiabilities
26000
CY2023Q1 pvbc Other Repossessed Assets Net Gain Loss On Sales
OtherRepossessedAssetsNetGainLossOnSales
166000
CY2023Q1 us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
-21000
CY2023Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
3735000
CY2022Q1 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
412000
CY2023Q1 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-4404000
CY2022Q1 us-gaap Increase Decrease In Other Operating Liabilities
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-2384000
CY2023Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
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CY2022Q1 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
2307000
CY2023Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
635000
CY2022Q1 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1379000
CY2023Q1 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
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CY2023Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
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CY2022Q1 us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
2482000
CY2023Q1 pvbc Proceeds From Other Repossessed Asset Sales
ProceedsFromOtherRepossessedAssetSales
6196000
CY2022Q1 us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
1338000
CY2023Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
87000
CY2022Q1 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
34000
CY2022Q1 pvbc Write Down Of Other Assets And Receivables Investing Activities
WriteDownOfOtherAssetsAndReceivablesInvestingActivities
395000
CY2023Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
100835000
CY2022Q1 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
596000
CY2023Q1 us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
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CY2022Q1 us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
120607000
CY2023Q1 us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
183729000
CY2022Q1 us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
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CY2023Q1 pvbc Net Cash Dividends Forfeited Paid On Common Stock
NetCashDividendsForfeitedPaidOnCommonStock
3000
CY2022Q1 pvbc Net Cash Dividends Forfeited Paid On Common Stock
NetCashDividendsForfeitedPaidOnCommonStock
-673000
CY2023Q1 pvbc Proceeds From Stock Options Exercised Net
ProceedsFromStockOptionsExercisedNet
-27000
CY2022Q1 pvbc Proceeds From Stock Options Exercised Net
ProceedsFromStockOptionsExercisedNet
-116000
CY2023Q1 us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
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CY2023Q1 us-gaap Repayments Of Federal Home Loan Bank Borrowings
RepaymentsOfFederalHomeLoanBankBorrowings
33000
CY2023Q1 pvbc Shares Surrendered Related To Tax Withholdings On Restricted Stock Awards
SharesSurrenderedRelatedToTaxWithholdingsOnRestrictedStockAwards
2000
CY2022Q1 pvbc Shares Surrendered Related To Tax Withholdings On Restricted Stock Awards
SharesSurrenderedRelatedToTaxWithholdingsOnRestrictedStockAwards
4000
CY2022Q1 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
1523000
CY2023Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
65780000
CY2022Q1 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
60058000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
163549000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
62961000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
80629000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
153115000
CY2023Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
244178000
CY2022Q1 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
216076000
CY2023Q1 us-gaap Interest Paid Net
InterestPaidNet
3919000
CY2022Q1 us-gaap Interest Paid Net
InterestPaidNet
455000
CY2023Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
128000
CY2022Q1 us-gaap Income Taxes Paid
IncomeTaxesPaid
372000
CY2023Q1 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., (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-month period ended March 31, 2023 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 2022 have been reclassified to be consistent with the 2023 consolidated financial statement presentation, which had no effect on the net income reported in the consolidated statements 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 31, 2023. </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 BankProv (the “Bank”), and the Bank’s wholly owned subsidiaries, Provident Security Corporation, 5 Market Street Security Corporation, and Prov 1, LLC. Provident Security Corporation and 5 Market Street Security Corporation were established to buy, sell, and hold investments for their own account. Prov 1, LLC was established to engage in any lawful act or activity for which limited liability companies may be organized. 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>
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
870000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
875000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
10131000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
9532000
CY2023Q1 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><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 whose primary purpose is to act as the holding company for the Bank. </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;">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’s primary deposit products are checking, savings, and term certificate accounts and its primary lending products are commercial real estate, commercial, and mortgage warehouse loans. BankProv is also a commercial bank for corporate clients, specializing in offering adaptive and technology-first banking solutions to niche markets.</span>
CY2023Q1 pvbc Number Of Banking Offices
NumberOfBankingOffices
7
CY2023Q1 pvbc Percent Of Customers Deposits Insured By Fdic
PercentOfCustomersDepositsInsuredByFdic
0.54
CY2023Q1 pvbc Percent Of Customers Deposits Insured By Dif
PercentOfCustomersDepositsInsuredByDif
0.46
CY2023Q1 pvbc Additional Borrowing Capacity Of Federal Home Loan Bank Of Boston And Federal Reserve Bank
AdditionalBorrowingCapacityOfFederalHomeLoanBankOfBostonAndFederalReserveBank
249600000
CY2023Q1 pvbc Securities Portfolio Percent Of Total Assets
SecuritiesPortfolioPercentOfTotalAssets
0.017
CY2023Q1 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1600000
CY2023Q1 pvbc Accumulated Other Comprehensive Income Loss Net Of Tax Percent
AccumulatedOtherComprehensiveIncomeLossNetOfTaxPercent
0.007
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
30782000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
7000
CY2023Q1 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2045000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
28744000
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
31457000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
2859000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
28600000
CY2022Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2023Q1 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2023Q1 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
9500000
CY2022Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
9800000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
866000
CY2023Q1 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
853000
CY2023Q1 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
30782000
CY2023Q1 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
28744000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
10601000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
190000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
16705000
CY2023Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
1855000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
27306000
CY2023Q1 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
2045000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
17924000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
839000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
10075000
CY2022Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2020000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
27999000
CY2022Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
2859000
CY2023Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1348202000
CY2022Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1444116000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
24812000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
28069000
CY2023Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1323390000
CY2022Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1416047000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
28069000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
3617000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
13000
CY2023Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
2935000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
24812000
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19496000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
379000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
96000
CY2022Q1 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
83000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19296000
CY2023Q1 us-gaap Notes Receivable Gross
NotesReceivableGross
1348202000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1444116000
CY2023Q1 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
6973000
CY2023Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
31471000
CY2022Q4 us-gaap Financing Receivable Nonaccrual No Allowance
FinancingReceivableNonaccrualNoAllowance
179000
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
26964000
CY2023Q1 pvbc Financing Receivable Modified In Period To Total Financing Receivables Percentage
FinancingReceivableModifiedInPeriodToTotalFinancingReceivablesPercentage
0.008
CY2023Q1 us-gaap Loans And Leases Receivable Impaired Commitment To Lend
LoansAndLeasesReceivableImpairedCommitmentToLend
50000
CY2022Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0
CY2022Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
22300000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1444116000
CY2023Q1 us-gaap Demand Deposit Accounts
DemandDepositAccounts
460836000
CY2022Q4 us-gaap Demand Deposit Accounts
DemandDepositAccounts
520226000
CY2023Q1 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
122721000
CY2022Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
145533000
CY2023Q1 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
158470000
CY2022Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
141802000
CY2023Q1 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
451427000
CY2022Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
318417000
CY2023Q1 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
17659000
CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
11449000
CY2023Q1 pvbc Time Deposits Less Than250000
TimeDepositsLessThan250000
192808000
CY2022Q4 pvbc Time Deposits Less Than250000
TimeDepositsLessThan250000
142155000
CY2023Q1 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
943085000
CY2022Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
759356000
CY2023Q1 us-gaap Deposits
Deposits
1403921000
CY2022Q4 us-gaap Deposits
Deposits
1279582000
CY2023Q1 pvbc Banking As Service Deposits
BankingAsServiceDeposits
161700000
CY2022Q4 pvbc Banking As Service Deposits
BankingAsServiceDeposits
45300000
CY2023Q1 pvbc Digital Asset Deposits
DigitalAssetDeposits
58100000
CY2022Q4 pvbc Digital Asset Deposits
DigitalAssetDeposits
57500000
CY2023Q1 pvbc Percentage Of Federal Deposit Insurance Corporation Insured Deposits
PercentageOfFederalDepositInsuranceCorporationInsuredDeposits
0.54
CY2022Q4 pvbc Percentage Of Federal Deposit Insurance Corporation Insured Deposits
PercentageOfFederalDepositInsuranceCorporationInsuredDeposits
0.55
CY2023Q1 pvbc Percentage Of Depositors Insurance Fund Deposits
PercentageOfDepositorsInsuranceFundDeposits
0.46
CY2022Q4 pvbc Percentage Of Depositors Insurance Fund Deposits
PercentageOfDepositorsInsuranceFundDeposits
0.45
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
58599000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
134000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5136000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
138000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
139000
CY2023Q1 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
4150000
CY2023Q1 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
68296000
CY2023Q1 us-gaap Short Term Borrowings
ShortTermBorrowings
50000000.0
CY2023Q1 us-gaap Long Term Debt
LongTermDebt
18300000
CY2023Q1 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.0495
CY2022Q4 us-gaap Other Foreclosed Assets
OtherForeclosedAssets
6051000
CY2023Q1 pvbc Other Repossessed Assets Direct Write Downs
OtherRepossessedAssetsDirectWriteDowns
-21000
CY2023Q1 pvbc Proceeds From Sale Of Other Repossessed Assets
ProceedsFromSaleOfOtherRepossessedAssets
-6030000
CY2022Q4 pvbc Other Repossessed Assets Valuation Allowance
OtherRepossessedAssetsValuationAllowance
597000
CY2023Q1 pvbc Other Repossessed Assets Valuation Allowance Reduction From Sales Of Other Repossessed Assets
OtherRepossessedAssetsValuationAllowanceReductionFromSalesOfOtherRepossessedAssets
-597000
CY2023Q1 pvbc Other Repossessed Assets Net Gain Loss On Sales
OtherRepossessedAssetsNetGainLossOnSales
166000
CY2023Q1 pvbc Other Repossessed Assets Operating Expenses
OtherRepossessedAssetsOperatingExpenses
115000
CY2022Q1 us-gaap Other Foreclosed Assets
OtherForeclosedAssets
0
CY2022Q1 pvbc Other Repossessed Assets Net Gain Loss On Sales
OtherRepossessedAssetsNetGainLossOnSales
0
CY2022 pvbc Repossessed Cryptocurrency Mining Rigs In Exchange For Loan Forgiveness Amount
RepossessedCryptocurrencyMiningRigsInExchangeForLoanForgivenessAmount
6100000
CY2023Q1 pvbc Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.045
CY2023Q1 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2023Q1 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2023Q1 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2023Q1 pvbc Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.065
CY2023Q1 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2023Q1 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.10
CY2023Q1 pvbc Tier One Leverage Ratio
TierOneLeverageRatio
0.00050
CY2023Q1 pvbc Capital Conservation Buffer Above Required Capital Ratios
CapitalConservationBufferAboveRequiredCapitalRatios
0.025
CY2023Q1 us-gaap Capital
Capital
206477000
CY2023Q1 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.1352
CY2023Q1 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
122152000
CY2023Q1 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2023Q1 us-gaap Capital Required To Be Well Capitalized
CapitalRequiredToBeWellCapitalized
152690000
CY2023Q1 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.100
CY2023Q1 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
187312000
CY2023Q1 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1227
CY2023Q1 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
91614000
CY2023Q1 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2023Q1 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
122152000
CY2023Q1 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2023Q1 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
187312000
CY2023Q1 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.1227
CY2023Q1 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
68711000
CY2023Q1 pvbc Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.045
CY2023Q1 us-gaap Common Equity Tier One Capital Required To Be Well Capitalized
CommonEquityTierOneCapitalRequiredToBeWellCapitalized
99249000
CY2023Q1 pvbc Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.065
CY2023Q1 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
187312000
CY2023Q1 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.1183
CY2023Q1 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
63346000
CY2023Q1 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2023Q1 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
79182000
CY2023Q1 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.050
CY2022Q4 us-gaap Capital
Capital
204354000
CY2022Q4 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.1262
CY2022Q4 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
129492000
CY2022Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2022Q4 us-gaap Capital Required To Be Well Capitalized
CapitalRequiredToBeWellCapitalized
161865000
CY2022Q4 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.100
CY2022Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
184025000
CY2022Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1137
CY2022Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
97119000
CY2022Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2022Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
129492000
CY2022Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2022Q4 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
184025000
CY2022Q4 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.1137
CY2022Q4 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
72839000
CY2022Q4 pvbc Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.045
CY2022Q4 us-gaap Common Equity Tier One Capital Required To Be Well Capitalized
CommonEquityTierOneCapitalRequiredToBeWellCapitalized
105212000
CY2022Q4 pvbc Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.065
CY2022Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
184025000
CY2022Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.1117
CY2022Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
65916000
CY2022Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2022Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
82395000
CY2022Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.050
CY2023Q1 us-gaap Net Income Loss
NetIncomeLoss
2100000
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-21500000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
16100000
CY2023Q1 pvbc Stock Repurchased At End Of Period Shares
StockRepurchasedAtEndOfPeriodShares
1145479
CY2023Q1 us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2022 pvbc Employee Stock Ownership Plan Esop Prime Rate Percentage
EmployeeStockOwnershipPlanEsopPrimeRatePercentage
0.0500
CY2023Q1 us-gaap Stock Issued During Period Shares Employee Stock Ownership Plan
StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan
89758
CY2023Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
551530
CY2022Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Allocated Shares
EmployeeStockOwnershipPlanESOPNumberOfAllocatedShares
461772
CY2023Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
22439
CY2022Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
89758
CY2023Q1 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
964899
CY2022Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
987338
CY2023Q1 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
1538868
CY2022Q4 us-gaap Employee Stock Ownership Plan Esop Shares In Esop
EmployeeStockOwnershipPlanESOPSharesInESOP
1538868
CY2023Q1 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
6600000
CY2023Q1 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
187000
CY2022Q1 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
383000
CY2023Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
2103000
CY2022Q1 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5525000
CY2023Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
17686055
CY2022Q1 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
17856516
CY2023Q1 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
972380
CY2022Q1 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
1062137
CY2023Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
183048
CY2022Q1 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
276427
CY2023Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16530627
CY2022Q1 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16517952
CY2023Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
639
CY2022Q1 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
510105
CY2023Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16531266
CY2022Q1 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17028057
CY2023Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.13
CY2022Q1 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.33
CY2023Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.13
CY2022Q1 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.32
CY2023Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1486071
CY2022Q1 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
171267
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3900000
CY2023Q1 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3900000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4300000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
4300000
CY2023Q1 pvbc Number Of Branch Locations
NumberOfBranchLocations
2
CY2023Q1 pvbc Number Of Leased Loan Production Offices
NumberOfLeasedLoanProductionOffices
1
CY2022Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
79000
CY2023Q1 us-gaap Operating Lease Cost
OperatingLeaseCost
79000
CY2023Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0360
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0359
CY2023Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P26Y2M12D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P26Y4M24D
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
199000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
264000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
270000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
270000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
280000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
280000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
291000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
291000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
293000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
293000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5740000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
5740000
CY2023Q1 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7073000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7138000
CY2023Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2818000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2856000
CY2023Q1 us-gaap Operating Lease Liability
OperatingLeaseLiability
4255000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4282000
CY2023Q1 pvbc Qualified Affordable Housing Project Investments
QualifiedAffordableHousingProjectInvestments
6600000
CY2022Q4 pvbc Qualified Affordable Housing Project Investments
QualifiedAffordableHousingProjectInvestments
7300000
CY2023Q1 us-gaap Amortization Method Qualified Affordable Housing Project Investments Amortization
AmortizationMethodQualifiedAffordableHousingProjectInvestmentsAmortization
1200000
CY2023Q1 us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
AffordableHousingTaxCreditsAndOtherTaxBenefitsAmount
1500000
CY2022Q1 us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
AffordableHousingTaxCreditsAndOtherTaxBenefitsAmount
0
CY2022Q1 us-gaap Amortization Method Qualified Affordable Housing Project Investments Amortization
AmortizationMethodQualifiedAffordableHousingProjectInvestmentsAmortization
0

Files In Submission

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pvbc-20230331_cal.xml Edgar Link unprocessable
pvbc-20230331_lab.xml Edgar Link unprocessable
pvbc-20230331_def.xml Edgar Link unprocessable
pvbc-20230331_pre.xml Edgar Link unprocessable
pvbc-20230331x10q_htm.xml Edgar Link completed
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0001778784-23-000022.txt Edgar Link pending
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