Provident Bancorp Q2 net income $2.8M, EPS $0.17; merger with Needham Bank progressing

Provident Bancorp, Inc. /MD/

2025-Q2 EPS reported $0.29

Net income $2.8M ($0.17 diluted) vs net loss $3.3M ($0.20) in Q2 2024; net interest income $13.5M (+13.2% YoY).
Proposed merger with NB Bancorp/Needham Bank announced; closing expected Q4 2025.
Noninterest income includes $745K gain on sale/leaseback of main office building.
Merger-related expenses $543K; SEC Wells Notice loss contingency included in other expenses.
Non-accrual loans $34.4M (2.24% of assets) vs $20.9M (1.31%) at Dec 2024.

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