Provident Bancorp, Inc. ( (PVBC) ) has released its Q3 earnings. Here is a breakdown of the information Provident Bancorp, Inc. presented to its investors.
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Provident Bancorp, Inc., the holding company for BankProv, is a full-service commercial bank based in Massachusetts, known for combining traditional banking services with innovative financial solutions across its branches in the Northeastern United States.
Provident Bancorp, Inc. reported a net income of $2.7 million for the third quarter of 2025, a slight decrease from the previous quarter but a significant increase compared to the same period in 2024. The company’s performance reflects its strategic management of interest expenses and credit loss benefits.
Key financial highlights include a net interest and dividend income of $13.2 million, a decrease from the previous quarter but an increase year-over-year. The company also reported a credit loss benefit of $418,000, reflecting a reduction in pooled reserves. Noninterest income saw a decline compared to the previous quarter, while noninterest expenses decreased due to reduced merger-related costs.
Despite a decrease in total assets and deposits, Provident Bancorp, Inc. improved its shareholders’ equity, which increased to $241.0 million. The company’s strategic focus on managing deposit pricing and balancing funding sources has been evident in its financial results.
Looking ahead, Provident Bancorp, Inc. remains focused on navigating the current economic landscape, with an emphasis on maintaining its capital position and exploring growth opportunities in its commercial real estate loan portfolio.