Provident Bancorp, Inc. Reports Net Income of $2.7 Million for the Quarter Ended September 30, 2025

Financial Performance: Provident Bancorp, Inc. reported a net income of $2.7 million for Q3 2025, a slight decrease from $2.8 million in Q2 2025, but a significant increase from $716,000 in Q3 2024. For the nine months ending September 30, 2025, net income rose to $7.7 million compared to $2.4 million in the same period last year.

Interest Income and Expenses: The company experienced a decrease in net interest and dividend income to $13.2 million for Q3 2025, down 2.5% from Q2 2025, but up 6.3% from Q3 2024. Total interest expense for the quarter was $8.1 million, reflecting a 4.5% increase from the previous quarter but an 18.9% decrease from the same quarter last year.

Asset and Loan Trends: Total assets decreased to $1.49 billion as of September 30, 2025, down 3.2% from the previous quarter and 6.4% from the end of 2024. Net loans also fell to $1.25 billion, primarily due to decreases in mortgage warehouse and enterprise value loans.

Equity and Capitalization: Shareholders' equity increased to $241 million, representing 16.2% of total assets, up from 15.4% in the previous quarter. The book value per share rose to $13.55, indicating a solid capital position as the bank remains categorized as well capitalized under regulatory standards.