---
schema_version: "secwatch.filing_event.v1"
accession: "0001778784-24-000013"
form_type: "8-K"
ticker: null
cik: "0001778784"
company_name: "Provident Bancorp, Inc. /MD/"
filed_at: "2024-04-25T23:59:59+00:00"
generated_at: "2026-06-03T08:10:31.465649+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# Provident Bancorp Q1 net income $5.0M ($0.30 EPS), up from $2.1M a year ago

## Summary
- Net income $5.0M vs $2.1M in Q1 2023; diluted EPS $0.30 vs $0.13.
- Net interest income $12.5M, down 8.0% from Q4 2023 and 21.1% from Q1 2023.
- Credit loss benefit of $5.6M drove allowance reduction to 1.18% of loans.
- Non-performing assets fell to $12.4M (0.74% of assets) from $16.5M at Dec 2023.
- Exited last digital asset lending relationship in early April; no remaining exposure.

## SEC filing metadata
- accession: 0001778784-24-000013
- form_type: 8-K
- cik: 0001778784
- company_name: Provident Bancorp, Inc. /MD/
- filed_at: 2024-04-25T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1778784/000177878424000013/0001778784-24-000013-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1778784/000177878424000013/pvbc-20240425x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001778784-24-000013
- JSON: https://secwatch.observer/filing/0001778784-24-000013.json
- Plain text: https://secwatch.observer/filing/0001778784-24-000013.txt

## Key facts
- Earnings Releases
  Provident Bancorp, Inc. /MD/ reported the quarter ended March 31, 2024 results: net income $5.0 million, EPS $0.30 per diluted share.
  - Period: the quarter ended March 31, 2024
  - Net income: $5.0 million
  - EPS: $0.30 per diluted share
  - Result: reported results
  source text: Provident Bancorp, Inc. Reports First Quarter Net Income of $5.0 Million
  evidence_url: https://www.sec.gov/Archives/edgar/data/1778784/000177878424000013/0001778784-24-000013-index.htm

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