On October 11, 2019, Provident Bancorp, Inc., a Massachusetts corporation (“Old Provident”), announced the results of the stock offering of Provident Bancorp, Inc., a Maryland corporation (“New Provident”), and the expected completion of the mutual-to-stock conversion of Provident Bancorp, the mutual holding company for Old Provident, and the related stock offering.

On October 16, 2019, New Provident announced that the mutual-to-stock conversion and the related stock offering were closed, effective as of the close of business on October 16, 2019.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Description

Provident Bancorp, Inc. /MD/ Exhibit
EX-99.1 2 ex99-1_8k101119.htm PRESS RELEASE DATED OCTOBER 11,…
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About PROVIDENT BANCORP, INC. (NASDAQ:PVBC)

Provident Bancorp, Inc. is the holding company of The Provident Bank. The Provident Bank is a community bank that serves the banking needs of its customers. The Provident Bank operates from its main office and over two branch offices in the Northeastern Massachusetts area and over four branch offices in Southeastern New Hampshire, and one branch is located in Bedford, New Hampshire. The Bank also has a loan production office in Nashua, New Hampshire. Its primary lending area encompasses Northeastern Massachusetts and Southern New Hampshire, with a focus on Essex County, Massachusetts, and Hillsborough and Rockingham Counties, New Hampshire. Its primary deposit-gathering area is concentrated in Essex County, Massachusetts, Rockingham County, New Hampshire, and Hillsborough County, New Hampshire. The Bank uses funds to originate loans, primarily commercial real estate, construction and land development and commercial business loans, and to invest in securities.