$PVBC
Provident Bancorp Inc (Maryland)

2023 Q3 Form 10-Q Financial Statement

#000177878423000037 Filed on August 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2
Revenue $23.23M $22.88M
YoY Change 12.17% 19.44%
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 $280.0K $273.0K
YoY Change 1.82% 0.37%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $9.340M $7.974M
YoY Change 881.09% 1357.77%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $3.094M $4.920M
YoY Change -106.55% -37.0%
Income Tax $628.0K $1.459M
% Of Pretax Income 20.3% 29.65%
Net Earnings $2.466M $3.461M
YoY Change -106.98% -38.41%
Net Earnings / Revenue 10.62% 15.13%
Basic Earnings Per Share $0.15 $0.21
Diluted Earnings Per Share $0.15 $0.21
COMMON SHARES
Basic Shares Outstanding 17.69M 17.69M
Diluted Shares Outstanding 16.65M 16.57M

Balance Sheet

Concept 2023 Q3 2023 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents $366.4M $297.9M
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 $13.19M $17.26M
YoY Change -4.21% 24.27%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $15.60M $15.72M
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.808B $1.762B
YoY Change 1.96% -1.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $4.200M $4.227M
YoY Change -2.51% -2.49%
Deferred Revenue
YoY Change
Short-Term Debt $80.00M $70.00M
YoY Change 19.4% -10.26%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $4.200M $4.227M
YoY Change -2.51% -2.49%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.200M $14.44M
YoY Change -46.22% 16.35%
Total Long-Term Liabilities $7.200M $14.44M
YoY Change -46.22% 16.35%
TOTAL LIABILITIES
Total Short-Term Liabilities $4.200M $4.227M
Total Long-Term Liabilities $7.200M $14.44M
Total Liabilities $1.591B $1.547B
YoY Change 1.35% -0.1%
SHAREHOLDERS EQUITY
Retained Earnings $103.4M $100.9M
YoY Change 12.45% -21.11%
Common Stock $177.0K $177.0K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $217.6M $215.1M
YoY Change
Total Liabilities & Shareholders Equity $1.808B $1.762B
YoY Change 1.96% -1.48%

Cashflow Statement

Concept 2023 Q3 2023 Q2
OPERATING ACTIVITIES
Net Income $2.466M $3.461M
YoY Change -106.98% -38.41%
Depreciation, Depletion And Amortization $280.0K $273.0K
YoY Change 1.82% 0.37%
Cash From Operating Activities -$3.850M $6.899M
YoY Change -132.21% 83.24%
INVESTING ACTIVITIES
Capital Expenditures $20.00K $193.0K
YoY Change -117.86% -421.67%
Acquisitions
YoY Change
Other Investing Activities $20.79M -$8.638M
YoY Change -167.7% -85.24%
Cash From Investing Activities $20.76M -$8.831M
YoY Change -167.36% -84.93%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 51.61M 55.61M
YoY Change 158.32% -963.81%
NET CHANGE
Cash From Operating Activities -3.850M 6.899M
Cash From Investing Activities 20.76M -8.831M
Cash From Financing Activities 51.61M 55.61M
Net Change In Cash 68.52M 53.68M
YoY Change 6072.97% -187.61%
FREE CASH FLOW
Cash From Operating Activities -$3.850M $6.899M
Capital Expenditures $20.00K $193.0K
Free Cash Flow -$3.870M $6.706M
YoY Change -132.08% 75.32%

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us-gaap Noninterest Expense
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us-gaap Weighted Average Number Of Shares Outstanding Basic
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us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Before Tax
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StockholdersEquity
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NetIncomeLoss
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CY2023Q2 pvbc Dividends Forfeited
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CY2023Q2 us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
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CY2023Q2 pvbc Shares Surrendered During Period Value Related To Tax Withholdings On Restricted Stock Awards
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CY2023Q2 us-gaap Amortization Of Esop Award
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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q1 us-gaap Stockholders Equity
StockholdersEquity
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NetIncomeLoss
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CY2022Q2 us-gaap Stock Repurchased During Period Value
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CY2022Q2 us-gaap Amortization Of Esop Award
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CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
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CY2022Q4 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
NetIncomeLoss
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pvbc Dividends Forfeited
DividendsForfeited
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OtherComprehensiveIncomeLossNetOfTax
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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pvbc Shares Surrendered During Period Value Related To Tax Withholdings On Restricted Stock Awards
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us-gaap Stock Issued During Period Value Stock Options Exercised
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us-gaap Amortization Of Esop Award
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CY2023Q2 us-gaap Stockholders Equity
StockholdersEquity
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StockholdersEquity
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us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
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us-gaap Dividends Common Stock Cash
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OtherComprehensiveIncomeLossNetOfTax
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us-gaap Adjustments To Additional Paid In Capital Sharebased Compensation Requisite Service Period Recognition Value
AdjustmentsToAdditionalPaidInCapitalSharebasedCompensationRequisiteServicePeriodRecognitionValue
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us-gaap Stock Repurchased During Period Value
StockRepurchasedDuringPeriodValue
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pvbc Shares Surrendered During Period Value Related To Tax Withholdings On Restricted Stock Awards
SharesSurrenderedDuringPeriodValueRelatedToTaxWithholdingsOnRestrictedStockAwards
40000
us-gaap Stock Issued During Period Value Stock Options Exercised
StockIssuedDuringPeriodValueStockOptionsExercised
116000
us-gaap Amortization Of Esop Award
AmortizationOfESOPAward
732000
CY2022Q2 us-gaap Stockholders Equity
StockholdersEquity
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us-gaap Net Income Loss
NetIncomeLoss
5564000
us-gaap Net Income Loss
NetIncomeLoss
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us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
-79000
us-gaap Accretion Amortization Of Discounts And Premiums Investments
AccretionAmortizationOfDiscountsAndPremiumsInvestments
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us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
356000
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
732000
us-gaap Amortization Of Deferred Loan Origination Fees Net
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990000
us-gaap Amortization Of Deferred Loan Origination Fees Net
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884000
us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
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us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
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pvbc Depreciation Depletion And Amortization Including Leases
DepreciationDepletionAndAmortizationIncludingLeases
541000
pvbc Depreciation Depletion And Amortization Including Leases
DepreciationDepletionAndAmortizationIncludingLeases
542000
us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-1590000
us-gaap Increase Decrease In Accrued Interest Receivable Net
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us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
731000
us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
1247000
us-gaap Share Based Compensation
ShareBasedCompensation
651000
us-gaap Share Based Compensation
ShareBasedCompensation
913000
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
538000
us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
514000
pvbc Principal Repayments Of Operating Lease Liabilities
PrincipalRepaymentsOfOperatingLeaseLiabilities
55000
pvbc Principal Repayments Of Operating Lease Liabilities
PrincipalRepaymentsOfOperatingLeaseLiabilities
52000
us-gaap Gain Loss On Sales Of Loans Net
GainLossOnSalesOfLoansNet
284000
pvbc Other Repossessed Assets Net Gain Loss On Sales
OtherRepossessedAssetsNetGainLossOnSales
166000
us-gaap Other Real Estate Valuation Adjustments
OtherRealEstateValuationAdjustments
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us-gaap Increase Decrease In Other Operating Assets
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us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
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us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
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us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
3833000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6072000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1265000
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
2565000
us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
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us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
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us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
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us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
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us-gaap Proceeds From Sale Of Loans Receivable
ProceedsFromSaleOfLoansReceivable
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pvbc Proceeds From Other Repossessed Asset Sales
ProceedsFromOtherRepossessedAssetSales
6196000
us-gaap Proceeds From Collection Of Loans Receivable
ProceedsFromCollectionOfLoansReceivable
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us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
280000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
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us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
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us-gaap Net Change Noninterest Bearing Deposits Domestic
NetChangeNoninterestBearingDepositsDomestic
48824000
us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
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us-gaap Net Change Interest Bearing Deposits Domestic
NetChangeInterestBearingDepositsDomestic
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pvbc Net Cash Dividends Forfeited Paid On Common Stock
NetCashDividendsForfeitedPaidOnCommonStock
4000
pvbc Net Cash Dividends Forfeited Paid On Common Stock
NetCashDividendsForfeitedPaidOnCommonStock
-1341000
pvbc Proceeds From Stock Options Exercised Net
ProceedsFromStockOptionsExercisedNet
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pvbc Proceeds From Stock Options Exercised Net
ProceedsFromStockOptionsExercisedNet
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us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
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us-gaap Proceeds From Short Term Debt
ProceedsFromShortTermDebt
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us-gaap Repayments Of Federal Home Loan Bank Borrowings
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8566000
pvbc Shares Surrendered Related To Tax Withholdings On Restricted Stock Awards
SharesSurrenderedRelatedToTaxWithholdingsOnRestrictedStockAwards
23000
pvbc Shares Surrendered Related To Tax Withholdings On Restricted Stock Awards
SharesSurrenderedRelatedToTaxWithholdingsOnRestrictedStockAwards
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us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
217229000
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Excluding Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseExcludingExchangeRateEffect
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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
CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
297858000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Interest Paid Net
InterestPaidNet
11589000
us-gaap Interest Paid Net
InterestPaidNet
931000
us-gaap Income Taxes Paid
IncomeTaxesPaid
136000
us-gaap Income Taxes Paid
IncomeTaxesPaid
3029000
us-gaap Transfer Of Loans Held For Sale To Portfolio Loans1
TransferOfLoansHeldForSaleToPortfolioLoans1
9599000
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- and six-month periods ended June 30, 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>
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>
pvbc Number Of Banking Offices
NumberOfBankingOffices
7
pvbc Percent Of Customers Deposits Insured By Fdic
PercentOfCustomersDepositsInsuredByFdic
0.526
pvbc Percent Of Customers Deposits Insured By Dif
PercentOfCustomersDepositsInsuredByDif
0.474
CY2023Q2 pvbc Additional Borrowing Capacity Of Federal Home Loan Bank Of Boston And Federal Reserve Bank
AdditionalBorrowingCapacityOfFederalHomeLoanBankOfBostonAndFederalReserveBank
239200000
pvbc Securities Portfolio Percent Of Total Assets
SecuritiesPortfolioPercentOfTotalAssets
0.016
CY2023Q2 us-gaap Accumulated Other Comprehensive Income Loss Net Of Tax
AccumulatedOtherComprehensiveIncomeLossNetOfTax
-1900000
CY2023Q2 pvbc Accumulated Other Comprehensive Income Loss Net Of Tax Percent
AccumulatedOtherComprehensiveIncomeLossNetOfTaxPercent
0.009
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
30113000
CY2023Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
2000
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2459000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
27656000
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
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
0
CY2023Q2 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
8900000
CY2022Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
9800000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
139000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
863000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
844000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
1468000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
1464000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
9509000
CY2023Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
8888000
CY2023Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
30113000
CY2023Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
27656000
CY2022Q2 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
0
CY2023Q2 us-gaap Debt Securities Available For Sale Accrued Interest After Allowance For Credit Loss
DebtSecuritiesAvailableForSaleAccruedInterestAfterAllowanceForCreditLoss
0
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
1978000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
14000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
24245000
CY2023Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2445000
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
26223000
CY2023Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
2459000
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
CY2023Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1357545000
CY2022Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
1444116000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
23981000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
28069000
CY2023Q2 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1333564000
CY2022Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
1416047000
CY2023Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
24812000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
48000
CY2023Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
-740000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
23981000
CY2022Q1 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19296000
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1345000
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
16000
CY2022Q2 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1005000
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
18972000
CY2022Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
28069000
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
3756000
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
61000
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
2195000
CY2023Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
23981000
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
19496000
us-gaap Financing Receivable Allowance For Credit Losses Write Offs
FinancingReceivableAllowanceForCreditLossesWriteOffs
1724000
us-gaap Financing Receivable Allowance For Credit Losses Recovery
FinancingReceivableAllowanceForCreditLossesRecovery
112000
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
1088000
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
18972000
CY2023Q2 us-gaap Notes Receivable Gross
NotesReceivableGross
1357545000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1444116000
CY2023Q2 pvbc Financing Receivable Non Accrual With No Allowance For Credit Loss
FinancingReceivableNonAccrualWithNoAllowanceForCreditLoss
322000
CY2023Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
21669000
CY2022Q4 pvbc Financing Receivable Non Accrual With No Allowance For Credit Loss
FinancingReceivableNonAccrualWithNoAllowanceForCreditLoss
179000
CY2022Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
26964000
us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
37624000
pvbc Financing Receivable Modified In Period To Total Financing Receivables Percentage
FinancingReceivableModifiedInPeriodToTotalFinancingReceivablesPercentage
0.0277
CY2023Q2 us-gaap Loans And Leases Receivable Impaired Commitment To Lend
LoansAndLeasesReceivableImpairedCommitmentToLend
50000000
us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
0
CY2022Q2 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
20600000
CY2022Q4 us-gaap Notes Receivable Gross
NotesReceivableGross
1444116000
CY2023Q2 us-gaap Demand Deposit Accounts
DemandDepositAccounts
404012000
CY2022Q4 us-gaap Demand Deposit Accounts
DemandDepositAccounts
520226000
CY2023Q2 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
111701000
CY2022Q4 us-gaap Deposits Negotiable Order Of Withdrawal Now
DepositsNegotiableOrderOfWithdrawalNOW
145533000
CY2023Q2 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
159940000
CY2022Q4 us-gaap Deposits Savings Deposits
DepositsSavingsDeposits
141802000
CY2023Q2 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
530964000
CY2022Q4 us-gaap Deposits Money Market Deposits
DepositsMoneyMarketDeposits
318417000
CY2023Q2 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
20869000
CY2022Q4 us-gaap Time Deposits At Or Above Fdic Insurance Limit
TimeDepositsAtOrAboveFDICInsuranceLimit
11449000
CY2023Q2 pvbc Time Deposits Less Than250000
TimeDepositsLessThan250000
220600000
CY2022Q4 pvbc Time Deposits Less Than250000
TimeDepositsLessThan250000
142155000
CY2023Q2 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
1044074000
CY2022Q4 us-gaap Interest Bearing Deposit Liabilities
InterestBearingDepositLiabilities
759356000
CY2023Q2 us-gaap Deposits
Deposits
1448086000
CY2022Q4 us-gaap Deposits
Deposits
1279582000
CY2023Q2 pvbc Banking As Service Noninterest Bearing Deposits
BankingAsServiceNoninterestBearingDeposits
37800000
CY2023Q2 pvbc Digital Asset Deposits Noninterest Bearing Deposits
DigitalAssetDepositsNoninterestBearingDeposits
20800000
CY2022Q4 pvbc Banking As Service Noninterest Bearing Deposits
BankingAsServiceNoninterestBearingDeposits
25300000
CY2022Q4 pvbc Digital Asset Deposits Noninterest Bearing Deposits
DigitalAssetDepositsNoninterestBearingDeposits
55200000
CY2023Q2 pvbc Banking As Service Interest Bearing Deposits
BankingAsServiceInterestBearingDeposits
197900000
CY2023Q2 pvbc Digital Asset Deposits Interest Bearing Deposits
DigitalAssetDepositsInterestBearingDeposits
4400000
CY2022Q4 pvbc Banking As Service Interest Bearing Deposits
BankingAsServiceInterestBearingDeposits
0
CY2022Q4 pvbc Digital Asset Deposits Interest Bearing Deposits
DigitalAssetDepositsInterestBearingDeposits
22200000
CY2023Q2 pvbc Percentage Of Federal Deposit Insurance Corporation Insured Deposits
PercentageOfFederalDepositInsuranceCorporationInsuredDeposits
0.53
CY2022Q4 pvbc Percentage Of Federal Deposit Insurance Corporation Insured Deposits
PercentageOfFederalDepositInsuranceCorporationInsuredDeposits
0.55
CY2023Q2 pvbc Percentage Of Depositors Insurance Fund Deposits
PercentageOfDepositorsInsuranceFundDeposits
0.47
CY2022Q4 pvbc Percentage Of Depositors Insurance Fund Deposits
PercentageOfDepositorsInsuranceFundDeposits
0.45
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
70066000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
134000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
5136000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
138000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
139000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
4150000
CY2023Q2 us-gaap Debt Longterm And Shortterm Combined Amount
DebtLongtermAndShorttermCombinedAmount
79763000
CY2023Q2 us-gaap Short Term Borrowings
ShortTermBorrowings
70000000.0
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
9800000
CY2023Q2 us-gaap Short Term Debt Weighted Average Interest Rate
ShortTermDebtWeightedAverageInterestRate
0.000527
CY2022Q4 us-gaap Other Foreclosed Assets
OtherForeclosedAssets
6051000
pvbc Other Repossessed Assets Direct Write Downs
OtherRepossessedAssetsDirectWriteDowns
-21000
pvbc Proceeds From Sale Of Other Repossessed Assets
ProceedsFromSaleOfOtherRepossessedAssets
-6030000
CY2022Q4 pvbc Other Repossessed Assets Valuation Allowance
OtherRepossessedAssetsValuationAllowance
597000
pvbc Other Repossessed Assets Valuation Allowance Reduction From Sales Of Other Repossessed Assets
OtherRepossessedAssetsValuationAllowanceReductionFromSalesOfOtherRepossessedAssets
-597000
pvbc Other Repossessed Assets Net Gain Loss On Sales
OtherRepossessedAssetsNetGainLossOnSales
166000
pvbc Other Repossessed Assets Operating Expenses
OtherRepossessedAssetsOperatingExpenses
115000
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
CY2023Q2 pvbc Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.045
CY2023Q2 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2023Q2 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2023Q2 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2023Q2 pvbc Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.065
CY2023Q2 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2023Q2 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.10
CY2023Q2 pvbc Tier One Leverage Ratio
TierOneLeverageRatio
0.00050
pvbc Capital Conservation Buffer Above Required Capital Ratios
CapitalConservationBufferAboveRequiredCapitalRatios
0.025
CY2023Q2 us-gaap Capital
Capital
207287000
CY2023Q2 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.1332
CY2023Q2 us-gaap Capital Required For Capital Adequacy
CapitalRequiredForCapitalAdequacy
124452000
CY2023Q2 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.080
CY2023Q2 us-gaap Capital Required To Be Well Capitalized
CapitalRequiredToBeWellCapitalized
155565000
CY2023Q2 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.100
CY2023Q2 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
187781000
CY2023Q2 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1207
CY2023Q2 us-gaap Tier One Risk Based Capital Required For Capital Adequacy
TierOneRiskBasedCapitalRequiredForCapitalAdequacy
93339000
CY2023Q2 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.060
CY2023Q2 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized
TierOneRiskBasedCapitalRequiredToBeWellCapitalized
124452000
CY2023Q2 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.080
CY2023Q2 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
187781000
CY2023Q2 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.1207
CY2023Q2 us-gaap Common Equity Tier One Capital Required For Capital Adequacy
CommonEquityTierOneCapitalRequiredForCapitalAdequacy
70004000
CY2023Q2 pvbc Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.045
CY2023Q2 us-gaap Common Equity Tier One Capital Required To Be Well Capitalized
CommonEquityTierOneCapitalRequiredToBeWellCapitalized
101117000
CY2023Q2 pvbc Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.065
CY2023Q2 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
187781000
CY2023Q2 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.1095
CY2023Q2 us-gaap Tier One Leverage Capital Required For Capital Adequacy
TierOneLeverageCapitalRequiredForCapitalAdequacy
68622000
CY2023Q2 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.040
CY2023Q2 us-gaap Tier One Leverage Capital Required To Be Well Capitalized
TierOneLeverageCapitalRequiredToBeWellCapitalized
85777000
CY2023Q2 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
us-gaap Dividends Cash
DividendsCash
0
CY2023Q2 pvbc Stock Repurchased At End Of Period Shares
StockRepurchasedAtEndOfPeriodShares
1145479
us-gaap Stock Repurchased During Period Shares
StockRepurchasedDuringPeriodShares
0
CY2022 pvbc Employee Stock Ownership Plan Esop Prime Rate Percentage
EmployeeStockOwnershipPlanEsopPrimeRatePercentage
0.0500
us-gaap Stock Issued During Period Shares Employee Stock Ownership Plan
StockIssuedDuringPeriodSharesEmployeeStockOwnershipPlan
89758
CY2023Q2 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
CY2023Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
44879
CY2022Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Committed To Be Released Shares
EmployeeStockOwnershipPlanESOPNumberOfCommittedToBeReleasedShares
89758
CY2023Q2 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
942459
CY2022Q4 us-gaap Employee Stock Ownership Plan Esop Number Of Suspense Shares
EmployeeStockOwnershipPlanESOPNumberOfSuspenseShares
987338
CY2023Q2 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
CY2023Q2 us-gaap Employee Stock Ownership Plan Esop Deferred Shares Fair Value
EmployeeStockOwnershipPlanESOPDeferredSharesFairValue
7800000
CY2023Q2 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
169000
CY2022Q2 us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
349000
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
356000
us-gaap Employee Stock Ownership Plan Esop Compensation Expense
EmployeeStockOwnershipPlanESOPCompensationExpense
732000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
3461000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5619000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
5564000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
11144000
CY2023Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
17688826
CY2022Q2 us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
17765817
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
17687448
us-gaap Weighted Average Number Of Shares Issued Basic
WeightedAverageNumberOfSharesIssuedBasic
17810916
CY2023Q2 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
949941
CY2022Q2 us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
1039698
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
961098
us-gaap Weighted Average Number Of Shares Employee Stock Ownership Plan Shares Not Committed To Be Released
WeightedAverageNumberOfSharesEmployeeStockOwnershipPlanSharesNotCommittedToBeReleased
1050855
CY2023Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
170221
CY2022Q2 us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
265871
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
176599
us-gaap Weighted Average Number Of Shares Restricted Stock
WeightedAverageNumberOfSharesRestrictedStock
271120
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16568664
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16460248
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16549751
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
16488941
CY2023Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
1353
CY2022Q2 us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
422685
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
915
us-gaap Incremental Common Shares Attributable To Call Options And Warrants
IncrementalCommonSharesAttributableToCallOptionsAndWarrants
468245
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16570017
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16882933
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16550666
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
16957186
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.21
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.34
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.68
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.21
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.33
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.34
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.66
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1235342
CY2022Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
198627
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1360013
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
185022
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3900000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
3900000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4200000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4300000
pvbc Number Of Branch Locations
NumberOfBranchLocations
2
pvbc Number Of Leased Loan Production Offices
NumberOfLeasedLoanProductionOffices
1
us-gaap Operating Lease Cost
OperatingLeaseCost
157000
us-gaap Operating Lease Cost
OperatingLeaseCost
157000
CY2023Q2 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0361
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0359
CY2023Q2 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P26Y1M6D
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P26Y4M24D
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
132000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
264000
CY2023Q2 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
CY2023Q2 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
CY2023Q2 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
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
294000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
293000
CY2023Q2 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
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7007000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
7138000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2780000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
2856000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
4227000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
4282000
CY2023Q2 pvbc Qualified Affordable Housing Project Investments
QualifiedAffordableHousingProjectInvestments
6500000
CY2022Q4 pvbc Qualified Affordable Housing Project Investments
QualifiedAffordableHousingProjectInvestments
7300000
CY2023Q2 us-gaap Amortization Method Qualified Affordable Housing Project Investments Amortization
AmortizationMethodQualifiedAffordableHousingProjectInvestmentsAmortization
179000
CY2023Q2 us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
AffordableHousingTaxCreditsAndOtherTaxBenefitsAmount
219000
CY2022Q2 us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
AffordableHousingTaxCreditsAndOtherTaxBenefitsAmount
0
CY2022Q2 us-gaap Amortization Method Qualified Affordable Housing Project Investments Amortization
AmortizationMethodQualifiedAffordableHousingProjectInvestmentsAmortization
0
us-gaap Amortization Method Qualified Affordable Housing Project Investments Amortization
AmortizationMethodQualifiedAffordableHousingProjectInvestmentsAmortization
1400000
us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
AffordableHousingTaxCreditsAndOtherTaxBenefitsAmount
1700000
us-gaap Affordable Housing Tax Credits And Other Tax Benefits Amount
AffordableHousingTaxCreditsAndOtherTaxBenefitsAmount
0
us-gaap Amortization Method Qualified Affordable Housing Project Investments Amortization
AmortizationMethodQualifiedAffordableHousingProjectInvestmentsAmortization
0

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