secwatch.observer — SEC 8-K summary
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Issuer:     Provident Bancorp, Inc. /MD/ (—)
CIK:        0001778784
Form:       8-K
Filed at:   2022-11-22T23:59:59+00:00
Accession:  0000943374-22-000482
Event type: regulatory
Sentiment:  negative
Materiality: 0.60
Item codes: 3.01, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1778784/000094337422000482/0000943374-22-000482-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1778784/000094337422000482/form8k_111722.htm
  HTML page:      https://secwatch.observer/filing/0000943374-22-000482

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