---
schema_version: "secwatch.filing_event.v1"
accession: "0000943374-22-000482"
form_type: "8-K"
ticker: null
cik: "0001778784"
company_name: "Provident Bancorp, Inc. /MD/"
filed_at: "2022-11-22T23:59:59+00:00"
generated_at: "2026-06-21T14:14:09.641329+00:00"
event_type: "regulatory"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Provident Bancorp receives Nasdaq delinquency notice for late 10-Q; discloses $111.5M in crypto-backed loans

## Summary
- Received Nasdaq notice on Nov 17 for not filing Q3 2022 Form 10-Q on time; must submit compliance plan by Jan 16, 2023.
- If plan accepted, extension to May 13, 2023 to regain compliance; no immediate impact on stock listing.
- As of Sep 30, 2022: $76.5M loans secured by mining rigs (5.2% of loan portfolio) and $35M outstanding on crypto-secured lines ($71M total).
- No exposure to FTX; digital asset USD deposits totaled $214.4M (14.5% of total deposits).
- Management working to file 10-Q as soon as practicable.

## SEC filing metadata
- accession: 0000943374-22-000482
- form_type: 8-K
- cik: 0001778784
- company_name: Provident Bancorp, Inc. /MD/
- filed_at: 2022-11-22T23:59:59+00:00
- event_type: regulatory
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 3.01, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778784/000094337422000482/0000943374-22-000482-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778784/000094337422000482/form8k_111722.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000943374-22-000482
- JSON: https://secwatch.observer/filing/0000943374-22-000482.json
- Plain text: https://secwatch.observer/filing/0000943374-22-000482.txt

## Key facts
- Listing & Compliance Notices
  Provident Bancorp, Inc. /MD/ received a nasdaq deficiency notice notice regarding late filing (rules 5250(c)(1)).
  - Exchange: nasdaq
  - Notice: deficiency notice
  - Deficiency: late filing
  - Rules: 5250(c)(1)
  source text: November 17, 2022, Provident Bancorp, Inc. (the “Company”) received a delinquency notification letter from the Listing Qualifications Department of The Nasdaq Stock Market LLC (“Nasdaq”) indicating that, as a result of the Company’s delay in filing its Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2022 (the “Form 10-Q”), the Company is not in compliance with the timely filing requirement for continued listing under Nasdaq Listing Rule 5250(c)(1). The notification letter has no immediate effect on the listing or trading of the Company’s common stock on the Nasdaq
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778784/000094337422000482/0000943374-22-000482-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.