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Provident Bancorp, Inc. (PVBC)
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Create: Alert |
All | News | Filings
| Date Filed | Type | Description |
| 08/01/2022 |
8-K
| Quarterly results|
Docs:
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"These increases in commercial loan growth were offset by a decrease in PPP loans of $11.9 million, or 96.0%, as these loans continue to be forgiven, and a decrease in our renewable energy portfolio of $713,000, or 1.1%. Loans held for sale decreased due to the sale of residential mortgage loans in June and the reclassification of the unsold loans to held for investment. Total liabilities increased $52.6 million, or 3.5%, from December 31, 2021 primarily due to an increase in short-term borrowings, offset by a decrease in deposits. Short-term borrowings increased $78.0 million due to overnight borrowings used to fund loan growth. Deposits were $1.44 billion as of June 30, 2022, representing a decrease of $20.0 million, or 1.4%, compared to December 31, 2021. The decrease in deposits was pri..." |
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| 04/29/2022 |
8-K
| Quarterly results |
| 01/28/2022 |
8-K
| Quarterly results |
| 11/02/2021 |
8-K
| Quarterly results |
| 07/29/2021 |
8-K
| Quarterly results |
| 04/22/2021 |
8-K
| Quarterly results |
| 01/29/2021 |
8-K
| Quarterly results |
| 10/23/2020 |
8-K
| Quarterly results|
Docs:
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"SBA PPP loans. The increase in bank owned life insurance of $9.5 million, or 39.8%, was primarily due to the purchase of additional insurance. The increase in accrued interest receivable of $3.3 million, or 114.4%, was primarily due to deferred interest on loan modifications as part of the CARES Act. The decrease in cash and cash equivalents of $12.2 million, or 20.5%, resulted from the purchase of the mortgage warehouse loans, partially offset by an increase in deposits. The decrease in debt securities available-for-sale of $7.4 million, or 17.6%, resulted primarily from principal pay downs on government mortgage-backed securities. Total liabilities increased $367.7 million, or 41.3%, due to increased deposits and an increase in borrowings. Deposits were $1.17 billion as of September 30, ..." |
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| 07/22/2020 |
8-K
| Quarterly results |
| 05/12/2020 |
8-K
| Quarterly results|
Docs:
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"Provident Bancorp, Inc. Reports Earnings for the March 31, 2020 Quarter Company Release – 5/8/2020 Amesbury, Massachusetts — Provident Bancorp, Inc. , the holding company for The Provident Bank , reported net income for the three months ended March 31, 2020 of $1.2 million, or $0.07 per diluted share, compared to $2.2 million, or $0.12 per diluted share, for the three months ended March 31, 2019. As a result of the completion of the second-step conversion and related stock offering in October 2019, all historical share and per share information has been restated to reflect the 2.0212-to-one exchange ratio. “I am deeply saddened by the devastating toll the COVID-19 crisis has placed on the health and well-being of our communities, including the effects on small businesses,” said David Mansf..." |
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| 01/27/2020 |
8-K
| Quarterly results|
Docs:
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"Amesbury, Massachusetts — Provident Bancorp, Inc. , the holding company for The Provident Bank , reported net income for the three months ended December 31, 2019 of $2.6 million, or $0.14 per diluted share, compared to $2.8 million, or $0.15 per diluted share, for the three months ended December 31, 2018. Net income for the year ended December 31, 2019 was $10.8 million, or $0.60 per diluted share, compared to $9.3 million, or $0.50 per diluted share, for the year ended December 31, 2018. As a result of the completion of the second-step conversion and related stock offering, all historical share and per share information has been restated to reflect the 2.0212-to-one exchange ratio. David Mansfield, CEO of The Provident Bank commented, “Our strong year-end financial performance is highligh...",
"The Provident Bank Acquires ResX Warehouse Lending Portfolio – The Provident Bank has entered the Warehouse Lending business by acquiring United Bank's legacy ResX Warehouse Lending portfolio from People's United Bank, N.A. on January 17, 2020. “The expertise and leadership of the ResX team provided us an opportunity to obtain a portfolio that is immediately accretive to earnings,” said David Mansfield, CEO of The Provident Bank. “The warehouse lending business is a niche business that parallels our strategy of engaging in specialized businesses where we can have expertise and focus. Our technology and banking products provide a compelling reason for businesses to transact with The Provident Bank,” he said. ResX Warehouse Lending, a division of The Provident Bank, will conduct business fro..." |
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| 10/22/2019 |
8-K
| Quarterly results |
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