---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-25-056902"
form_type: "8-K"
ticker: null
cik: "0001778784"
company_name: "Provident Bancorp, Inc. /MD/"
filed_at: "2025-06-05T23:59:59+00:00"
generated_at: "2026-05-19T22:25:24.820266+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.9
calibrated_materiality_score: 0.9
confidence: "high"
source: SEC EDGAR
---

# NB Bancorp to acquire Provident Bancorp for $13 cash or 0.691 shares per share

## Summary
- Provident shareholders may elect $13.00 cash or 0.691 NB Bancorp shares per share, with proration to ensure 50% stock consideration.
- Joseph Reilly, Provident CEO, will join NB Bancorp board and enter an 18-month consulting agreement at $27,500/month, plus $800,000 settlement and $250,000 non-compete.
- Transaction expected to close in Q4 2025, subject to shareholder approval, regulatory clearances, and customary conditions.
- Provident must pay an $8.5 million termination fee under certain circumstances if the deal fails.
- Directors and officers holding ~4.17% of Provident shares have agreed to vote in favor of the merger.

## SEC filing metadata
- accession: 0001104659-25-056902
- form_type: 8-K
- cik: 0001778784
- company_name: Provident Bancorp, Inc. /MD/
- filed_at: 2025-06-05T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.9
- calibrated_materiality_score: 0.9
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778784/000110465925056902/0001104659-25-056902-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778784/000110465925056902/tm2517310d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-25-056902
- JSON: https://secwatch.observer/filing/0001104659-25-056902.json
- Plain text: https://secwatch.observer/filing/0001104659-25-056902.txt

## Key facts
- Executive change
  Joseph B. Reilly departed as Director, President and Chief Executive Officer at Provident Bancorp, Inc. /MD/.
  - Role: Director, President and Chief Executive Officer
  source text: Upon and subject to the completion of the Merger, Joseph B. Reilly, Provident’s Director, President and Chief Executive Officer will join the respective Boards of Directors of the Company and Needham Bank.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778784/000110465925056902/0001104659-25-056902-index.htm

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