Provident Bancorp (PVBC) investor relations material

Executive summary

• Net income for Q3 2025 was $2.7 million ($0.16 per diluted share), up from $716,000 ($0.04 per share) in Q3 2024; nine-month net income was $7.7 million ($0.45 per share), up from $2.4 million ($0.14 per share) year-over-year.

• Return on average assets for Q3 2025 was 0.70%; return on average equity was 4.45%.

• A merger with NB Bancorp, Inc. was approved and is expected to close around November 15, 2025.

Financial highlights

• Net interest and dividend income for Q3 2025 increased 6.3% to $13.2 million; for the nine months, it rose 7.4% to $39.6 million.

• Net interest margin for Q3 2025 was 3.67%, up from 3.38% in Q3 2024.

• Noninterest income for Q3 2025 was $1.6 million; nine-month noninterest income rose 12.7% year-over-year to $5.2 million.

• Noninterest expense for Q3 2025 was $11.4 million, down 5.4% sequentially and 1.2% year-over-year.

• Credit loss benefit of $418,000 recognized in Q3 2025, compared to a $1.7 million expense in Q3 2024.

Outlook and guidance

• The merger with NB Bancorp is expected to close in mid-November 2025, with all regulatory approvals received.

• No material impact is expected from recent federal tax legislation.

• Management notes forward-looking risks including merger status, economic conditions, interest rates, regulatory changes, and exposure to fintech and digital asset clients.