See more : Qell Acquisition Corp. (QELL) Income Statement Analysis – Financial Results
Complete financial analysis of Provident Bancorp, Inc. (PVBC) income statement, including revenue, profit margins, EPS and key performance metrics. Get detailed insights into the financial performance of Provident Bancorp, Inc., a leading company in the Banks – Regional industry within the Financial Services sector.
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Provident Bancorp, Inc. (PVBC)
About Provident Bancorp, Inc.
Provident Bancorp, Inc. operates as the bank holding company for The Provident Bank that provides various financial services to individuals and small businesses in the United States. It offers checking, term certificate, negotiable order of withdrawal, money market, and savings accounts, as well as certificates of deposit. The company also provides commercial real estate, multi-family residential real estate, commercial business, construction and land development, mortgage warehouse, one- to four-family residential, and consumer loans, as well as home equity loans and lines of credit; and invests in securities, and state and municipal bonds. As of December 31, 2021, it operated through its main office and six branch offices located in Amesbury and Newburyport, Massachusetts; and Bedford, Exeter, Portsmouth, and Seabrook, New Hampshire, as well as two loan production offices located in Boston, Massachusetts, and Ponte Vedra, Florida. The company was founded in 1828 and is headquartered in Amesbury, Massachusetts.
| Metric | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | 64.08M | 81.18M | 66.60M | 58.02M | 47.50M | 41.31M | 42.01M | 30.54M | 27.08M | 24.89M | 24.16M |
| Cost of Revenue | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Gross Profit | 64.08M | 81.18M | 66.60M | 58.02M | 47.50M | 41.31M | 42.01M | 30.54M | 27.08M | 24.89M | 24.16M |
| Gross Profit Ratio | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% | 100.00% |
| Research & Development | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| General & Administrative | 35.26M | 35.58M | 31.58M | 25.34M | 19.72M | 18.53M | 17.00M | 13.84M | 12.74M | 11.56M | 11.85M |
| Selling & Marketing | 640.00K | 412.00K | 279.00K | 223.00K | 385.00K | 245.00K | 300.00K | 249.00K | 127.00K | 79.00K | 234.00K |
| SG&A | 35.90M | 35.99M | 31.86M | 25.56M | 20.11M | 18.78M | 17.30M | 14.09M | 12.87M | 11.63M | 12.09M |
| Other Expenses | 28.18M | -17.99M | -76.37M | -66.97M | -52.99M | -42.31M | -40.25M | -32.49M | -32.59M | -28.22M | -28.00M |
| Operating Expenses | 64.08M | 5.11M | -44.51M | -41.41M | -32.88M | -23.53M | -22.95M | -18.40M | -19.72M | -16.58M | -15.91M |
| Cost & Expenses | 64.08M | 5.11M | -44.51M | -41.41M | -32.88M | -23.53M | -22.95M | -18.40M | -19.72M | -16.58M | -15.91M |
| Interest Income | 90.30M | 79.33M | 64.80M | 60.40M | 51.54M | 42.34M | 35.78M | 28.89M | 25.45M | 23.31M | 21.64M |
| Interest Expense | 32.13M | 4.30M | 3.37M | 5.93M | 8.15M | 5.21M | 3.73M | 2.79M | 2.17M | 2.29M | 2.63M |
| Depreciation & Amortization | 1.10M | 940.00K | 870.00K | 944.00K | 1.20M | 721.00K | 811.00K | 832.00K | 713.00K | 767.00K | 646.00K |
| EBITDA | 0.00 | -26.16M | 23.12M | 17.70M | 16.01M | 13.48M | 16.14M | 10.20M | 5.90M | 6.78M | 6.27M |
| EBITDA Ratio | 0.00% | -26.50% | 34.70% | 30.28% | 32.32% | 44.78% | 47.30% | 42.50% | 29.81% | 36.46% | 36.80% |
| Operating Income | 0.00 | -22.96M | 22.09M | 16.61M | 14.62M | 17.78M | 19.06M | 12.15M | 7.36M | 8.31M | 8.24M |
| Operating Income Ratio | 0.00% | -28.28% | 33.17% | 28.63% | 30.78% | 43.03% | 45.37% | 39.78% | 27.17% | 33.37% | 34.13% |
| Total Other Income/Expenses | 14.78M | -8.69M | -4.11M | -6.53M | -3.74M | -3.51M | -3.37M | -3.09M | -5.60M | -3.53M | -3.42M |
| Income Before Tax | 14.78M | -27.26M | 22.09M | 16.61M | 14.62M | 12.56M | 15.33M | 9.36M | 5.19M | 6.02M | 5.62M |
| Income Before Tax Ratio | 23.06% | -33.58% | 33.17% | 28.63% | 30.78% | 30.41% | 36.50% | 30.66% | 19.17% | 24.17% | 23.26% |
| Income Tax Expense | 3.82M | -5.79M | 5.95M | 4.63M | 3.81M | 3.24M | 7.42M | 3.03M | 1.37M | 1.45M | 1.61M |
| Net Income | 10.95M | -21.47M | 16.14M | 11.99M | 10.81M | 9.33M | 7.92M | 6.34M | 3.82M | 4.56M | 4.01M |
| Net Income Ratio | 17.09% | -26.45% | 24.23% | 20.66% | 22.75% | 22.58% | 18.84% | 20.75% | 14.12% | 18.33% | 16.61% |
| EPS | 0.66 | -1.30 | 0.96 | 0.66 | 0.60 | 0.50 | 0.86 | 0.69 | 0.38 | 0.46 | 0.40 |
| EPS Diluted | 0.66 | -1.30 | 0.93 | 0.66 | 0.60 | 0.50 | 0.86 | 0.69 | 0.38 | 0.46 | 0.40 |
| Weighted Avg Shares Out | 16.59M | 16.48M | 16.77M | 18.09M | 17.96M | 18.68M | 9.20M | 9.18M | 9.17M | 9.50M | 9.50M |
| Weighted Avg Shares Out (Dil) | 16.59M | 16.48M | 17.30M | 18.13M | 18.07M | 18.81M | 9.20M | 9.18M | 9.50M | 9.50M | 9.50M |
Provident Bancorp, Inc. Reports Results for the December 31, 2023 Quarter and Year
AMESBURY, Mass. , Jan. 25, 2024 /PRNewswire/ -- Provident Bancorp, Inc. (the "Company") (NasdaqCM: PVBC), the holding company for BankProv (the "Bank"), reported net income for the quarter ended December 31, 2023 of $2.9 million, or $0.18 per diluted share,...
BankProv Welcomes Curt Murray as AVP, Business Banking Officer
PORTSMOUTH, N.H. , Jan. 9, 2024 /PRNewswire/ -- BankProv (NASDAQ: PVBC), a future-ready commercial bank that offers technology-driven banking solutions to its clients, is pleased to announce the addition of Curt Murray to its team in the role of Assistant Vice...
Provident Bancorp, Inc. Reports Results for the September 30, 2023 Quarter
AMESBURY, Mass. , Oct. 26, 2023 /PRNewswire/ -- Provident Bancorp, Inc. (the "Company") (NasdaqCM: PVBC), the holding company for BankProv (the "Bank"), reported net income for the quarter ended September 30, 2023 of $2.5 million, or $0.15 per diluted share,...
BankProv Adds Business Banking Expert To Support New Clients
AMESBURY, Mass. , Aug. 25, 2023 /PRNewswire/ -- BankProv (NASDAQ: PVBC), a future-ready commercial bank that offers technology-driven banking solutions to its clients, is pleased to welcome Tricia Abood to the organization as Vice President, Business Development Officer.
Provident Bancorp, Inc. Reports Results for the June 30, 2023 Quarter
AMESBURY, Mass. , July 27, 2023 /PRNewswire/ -- Provident Bancorp, Inc. (the "Company") (NasdaqCM: PVBC), the holding company for BankProv (the "Bank"), reported net income for the quarter ended June 30, 2023 of $3.5 million, or $0.21 per diluted share, compared...
Provident Bancorp: An Interesting Bank That Has Managed To Grow During Recent Turmoil
Provident Bancorp is a small bank with a market capitalization of $143 million, specializing in technology-first banking solutions for corporate clients. Despite a net loss of $21.5 million in 2022 due to digital asset exposure, the bank's overall financial health...
PVBC INVESTOR NOTICE: Rosen Law Firm Encourages Provident Bancorp, Inc. Investors to Inquire About Securities Class Action Investigation – PVBC
NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Provident Bancorp, Inc. (NASDAQ: PVBC) resulting from allegations that Provident may have issued materially misleading business...
EQUITY ALERT: Rosen Law Firm Encourages Provident Bancorp, Inc. Investors to Inquire About Securities Class Action Investigation – PVBC
NEW YORK--(BUSINESS WIRE)--WHY: Rosen Law Firm, a global investor rights law firm, announces an investigation of potential securities claims on behalf of shareholders of Provident Bancorp, Inc. (NASDAQ: PVBC), the holding company for BankProv formerly known as The Provident Bank,...
PROVIDENT ALERT: Bragar Eagel & Squire, P.C. is Investigating Provident Bancorp, Inc. on Behalf of Provident Stockholders and Encourages Investors to Contact the Firm
NEW YORK--(BUSINESS WIRE)--Bragar Eagel & Squire, P.C., a nationally recognized stockholder rights law firm, is investigating potential claims against Provident Bancorp, Inc. (“Provident” or the “Company”) (NASDAQ: PVBC) on behalf of Provident stockholders. Our investigation concerns whether Provident has violated...
Glancy Prongay & Murray LLP, a Leading Securities Fraud Law Firm, Announces Investigation of Provident Bancorp, Inc. (PVBC) on Behalf of Investors
LOS ANGELES--(BUSINESS WIRE)--Glancy Prongay & Murray LLP (“GPM”), a leading national shareholder rights law firm, today announced that it has commenced an investigation on behalf of Provident Bancorp, Inc. (“Provident” or the “Company”) (NASDAQ: PVBC) investors concerning the Company’s possible...
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