CSIMarket
 
Provident Bancorp Inc   (PVBC)
Other Ticker:  
 
    Sector  Financial    Industry Regional Banks
   Industry Regional Banks
   Sector  Financial
 
Price: $9.0600 $-0.22 -2.318%
Day's High: $9.49 Week Perf: -6.5 %
Day's Low: $ 9.04 30 Day Perf: -8.67 %
Volume (M): 36 52 Wk High: $ 11.52
Volume (M$): $ 330 52 Wk Avg: $9.11
Open: $9.31 52 Wk Low: $5.76



 Market Capitalization (Millions $) 150
 Shares Outstanding (Millions) 17
 Employees 97
 Revenues (TTM) (Millions $) 20
 Net Income (TTM) (Millions $) -27
 Cash Flow (TTM) (Millions $) 143
 Capital Exp. (TTM) (Millions $) 0

Provident Bancorp Inc

Provident Bancorp, Inc. is a Massachusetts corporation that was formed in 2011 by The Provident Bank to be its holding company. The Company’s common stock is quoted on the Nasdaq Capital Market under the symbol “PVBC.” Approximately 53.0% of Provident Bancorp, Inc.’s outstanding shares are owned by Provident Bancorp, a Massachusetts corporation and a mutual holding company. Provident Bancorp, Inc. owns all of The Provident Bank’s capital stock.

Provident Bancorp, Inc.’s executive offices are located at 5 Market Street, Amesbury, Massachusetts 01913, and the telephone number is (978) 388-0050. Provident Bancorp, Inc. is subject to comprehensive regulation and examination by the Board of Governors of the Federal Reserve System and the Massachusetts Commissioner of Banks.

The Provident Bank is a community bank that has served the banking needs of its customers since 1828. We are the tenth oldest financial institution in the United States.
The Provident Bank is a Massachusetts-chartered stock savings bank that operates from its main office and two branch offices in the Northeastern Massachusetts area and four branch offices in Southeastern New Hampshire, and one branch in located in Bedford, New Hampshire. We also have a loan production office in Nashua, New Hampshire. Our primary lending area encompasses Northeastern Massachusetts and Southern New Hampshire, with a focus on Essex County, Massachusetts, and Hillsborough and Rockingham Counties, New Hampshire. Our primary deposit-gathering area is currently concentrated in Essex County, Massachusetts, Rockingham County, New Hampshire, and Hillsborough County, New Hampshire. We attract deposits from the general public and use those funds to originate primarily loans, primarily commercial real estate, construction and land development and commercial business loans, and to invest in securities. In recent years, we have been successful in growing both deposits and loans.

Loan originations come from a variety of sources. The primary sources of loan originations are current customers, business development by our relationship managers, walk-in traffic, our website, networking events and referrals from customers as well as our directors, trustees and corporators, business owners, investors, entrepreneurs, builders, realtors, and other professional third parties, including brokers. Loan originations are further supported by lending services offered through our internet website, cross-selling, and employees’ community service.

We have legal authority to invest in various types of investment securities and liquid assets, including U.S. Treasury obligations, securities of various government-sponsored enterprises, residential mortgage-backed securities and municipal governments, deposits at the Federal Home Loan Bank of Boston, certificates of deposit of federally insured institutions, investment grade corporate bonds and investment grade marketable equity securities, including common stock and money market mutual funds. We also are required to maintain an investment in Federal Home Loan Bank of Boston stock, which investment is based on the level of our Federal Home Loan Bank borrowings.

Deposits have traditionally been our primary source of funds for use in lending and investment activities. We also use borrowings, primarily Federal Home Loan Bank of Boston advances, brokered deposits and certificates of deposit obtained from a national exchange, to supplement cash flow needs, lengthen the maturities of liabilities for interest rate risk purposes and to manage the cost of funds. In addition, funds are derived from scheduled loan payments, investment maturities, loan prepayments, retained earnings and income on earning assets. While scheduled loan payments and income on earning assets are relatively stable sources of funds, deposit inflows and outflows can vary widely and are influenced by prevailing interest rates, market conditions and levels of competition.

The substantial majority of our deposits (other than certificates of deposit) are from depositors who reside in our primary market area. However, a significant portion of our brokered certificates of deposits and QwickRate deposits, described below, are from depositors located outside our primary market area. Deposits are attracted through the offering of a broad selection of deposit instruments, including non-interest-bearing demand deposits (such as checking accounts), interest-bearing demand accounts (such as NOW and money market accounts), savings accounts and certificates of deposit. In addition to accounts for individuals, we also offer several commercial checking accounts designed for the businesses operating in our market area, and we encourage our commercial customers to maintain their deposit relationships with us.



   Company Address: 5 Market Street Amesbury 1913 MA
   Company Phone Number: 834-8555   Stock Exchange / Ticker: NASDAQ PVBC
   PVBC is expected to report next financial results on March 30, 2024.


Customers Net Income fell by PVBC's Customers Net Profit Margin fell to

-62.15 %

2.58 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
EBTC   -1.48%    
IBCP   -2%    
BAC        0.14% 
BANC   -6.82%    
CAC   -5.65%    
CBNK   -0.64%    
• View Complete Report
   



Personnel Announcements

Julienne Cassarino's Appointment Sparks Provident Bancorp's Turnaround, Aiming for Heightened Revenue per Employee

Published Fri, Feb 16 2024 9:05 PM UTC



In an exciting development for Provident Bancorp, Inc., industry veteran Julienne Cassarino has been appointed to the Board of Directors, signaling the company's commitment to adaptability and future growth. With its subsidiary, BankProv, aiming to thrive as a forward-thinking commercial bank, this strategic move is expected to address the recent decline in revenue...

Personnel Announcements

Provident Bancorp Fortifies Leadership with Appointment of Dennis Pollack, Faces Operational Challenges Ahead

Published Fri, Jan 26 2024 10:10 PM UTC

Provident Bancorp, Inc. Appoints Dennis Pollack to Board of Directors
Facts:
- Provident Bancorp, Inc. (NASDAQ: PVBC) has announced the appointment of Dennis Pollack to its Board of Directors.
- Pollack will also join the Board of Directors of Provident Bancorp's operating subsidiary, BankProv.
- Provident Bancorp is a future-ready commercial bank that offer...

Provident Bancorp Inc

Regional Bank Provident Bancorp Inc Faces Financial Setback: Revenue Plummets and Earnings Take a Dive in Q2 2023



Provident Bancorp Inc, a regional bank company listed on the NASDAQ, has seen a surge in its stock price in the past three months, as well as over the course of 2023. However, a closer look at the company's financial results for the second quarter of 2023 raises concerns about its future performance. This article will analyze the facts and discuss their potential impact on Provident Bancorp Inc going forward.
1. Declining Earnings per Share (EPS):
In the fiscal second quarter of 2023, Provident Bancorp Inc witnessed a notable decline in its EPS, which dropped by -36.36% to $0.21 per share. This can primarily be attributed to a decrease in revenue of -7.733% to $17.67 million compared to the same period last year. The decline in earnings is a worrying sign for investors as it indicates deteriorating financial performance.

Provident Bancorp Inc

Despite Challenges, Provident Bancorp Inc Prevails with Resilience in the Face of Adversity

The financial first quarter of 2023 has been a rough period for Provident Bancorp Inc, with both their top and bottom-line experiencing a significant decline. The company's income per share plunged by -59.38%, while revenue also decreased by -16.585% year on year. Revenue was at $15.98 million, compared to $19.16 million in the corresponding period a year before. Earnings per share saw a considerable drop from $0.32 to $0.13 in Q1 2023.
The company has also witnessed a decline from the preceding fiscal period, where income fell by -20.49% from $0.16 per share, and revenue slumped by -26.181% from $21.65 million. Net earnings in the financial first quarter of 2023 experienced a quite significant drop by -61.94% from $5.525 million in the year before.






 

Provident Bancorp Inc's Segments
 
 
• View Complete Report




Help

About us

Advertise

CSIMarket Company, Sector, Industry, Market Analysis, Stock Quotes, Earnings, Economy, News and Research. 
   Copyright © 2024 CSIMarket, Inc. All rights reserved. This site uses cookies to make your browsing experince better. By using this site, you agree to the Terms of Service and Privacy Policy - UPDATED (Read about our Privacy Policy)

Intraday data delayed per exchange requirements. All quotes are in local exchange time. Intraday data delayed 15 minutes for Nasdaq, and other exchanges. Fundamental and financial data for Stocks, Sector, Industry, and Economic Indicators provided by CSIMarket.com