NB Bancorp and Provident Bancorp jointly announce the deadline for shareholder consideration of their merger and the expected closing date. The companies, holding Needham Bank and BankProv respectively, provide key timeline details for the transaction.
Needham Bank is acquiring BankProv through a $211.8 million transaction. The deal consolidates two regional financial institutions, expanding Needham Bank’s footprint and customer base. Terms include an all-cash acquisition, with no further details on integration plans released.
Provident Bancorp reports **$2.2 million net income** for Q1 2025, a decline from **$4.9 million** in Q4 2024 and **$5.0 million** in Q1 2024. The company’s diluted earnings per share drop to **$0.13** from **$0.29** and **$0.30** in the prior quarters. Return on average assets stands at **0.58%** for the period.
BankProv hires Tricia Abood as Vice President, Business Development Officer to expand its technology-driven commercial banking services. Abood joins with extensive financial services experience and a history of supporting business clients. The move aims to strengthen the bank’s ability to serve new customers in its growing portfolio.
