0001778784-24-000016.txt : 20240508 0001778784-24-000016.hdr.sgml : 20240508 20240508161150 ACCESSION NUMBER: 0001778784-24-000016 CONFORMED SUBMISSION TYPE: 8-K PUBLIC DOCUMENT COUNT: 15 CONFORMED PERIOD OF REPORT: 20240506 ITEM INFORMATION: Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers ITEM INFORMATION: Other Events ITEM INFORMATION: Financial Statements and Exhibits FILED AS OF DATE: 20240508 DATE AS OF CHANGE: 20240508 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Provident Bancorp, Inc. /MD/ CENTRAL INDEX KEY: 0001778784 STANDARD INDUSTRIAL CLASSIFICATION: SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036] ORGANIZATION NAME: 02 Finance IRS NUMBER: 844132422 FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: 8-K SEC ACT: 1934 Act SEC FILE NUMBER: 001-39090 FILM NUMBER: 24926169 BUSINESS ADDRESS: STREET 1: 5 MARKET STREET CITY: AMESBURY STATE: MA ZIP: 01913 BUSINESS PHONE: (978) 388-0050 MAIL ADDRESS: STREET 1: 5 MARKET STREET CITY: AMESBURY STATE: MA ZIP: 01913 8-K 1 pvbc-20240506x8k.htm 8-K pvbc-20240506x8k
false000177878400017787842024-05-062024-05-06

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D) OF

THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): May 6, 2024

PROVIDENT BANCORP, INC.

(Exact Name of Registrant as Specified in Charter)

Maryland

001-39090

84-4132422

(State or Other Jurisdiction

(Commission File No.)

(I.R.S. Employer

of Incorporation)

Identification No.)

5 Market Street, Amesbury, Massachusetts

01913

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (978) 834-8555

Not Applicable

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

o Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

o Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

o Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

o Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol

Name of each exchange on which registered

Common stock

PVBC

The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company

o

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


‎

Item 5.02Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

Effective May 6, 2024, the Boards of Directors of Provident Bancorp, Inc. (the “Company”) and its wholly owned subsidiary, BankProv (the “Bank”), appointed Kenneth R. Fisher Executive Vice President and Chief Financial Officer.

Mr. Fisher was appointed Acting Chief Financial Officer on March 28, 2024. Mr. Fisher joined the Company and the Bank as Senior Vice President-Finance in January 2024, having previously served as the Chief Financial Officer of Bluejay Diagnostics, Inc., in Acton, Massachusetts, from March 2022 through September 2023. Mr. Fisher was previously with Meridian Bancorp, Inc, and its wholly owned subsidiary, East Boston Savings Bank, from 2010 through its sale in 2021, serving as Executive Vice President, Chief Financial Officer and Treasurer. Mr. Fisher is a Certified Public Accountant whose career also includes five years in public accounting at Parent McLaughlin & Nangle, CPAs (now Marcum LLP).

Mr. Fisher is not a party to any transaction with the Company or the Bank that would require disclosure under Item 404(a) of Securities and Exchange Commission Regulation S-K.

Item 8.01Other Events

A copy of a press release announcing Mr. Fisher’s appointment is filed as Exhibit 99.1 to this Current Report.

Item 9.01 Financial Statements and Exhibits

(d) Exhibits

Exhibit Description

99.1 Press Release dated May 7, 2024

104Cover Page Interactive Data File (embedded within Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned, hereunto duly authorized.

PROVIDENT BANCORP, INC.

DATE: May 8, 2024

By:

/s/ Joseph B. Reilly

Joseph B. Reilly

President and Chief Executive Officer

 EX-99.1 2 pvbc-20240506xex99_1.htm EX-99.1 20240507 Press Release - Ken Fisher

Picture 1

Press Contact: Kathleen Barrett

Phone: 603-334-1251

Email: kbarrett@bankprov.com



Investor Contact: Joe Reilly, CEO

Phone: 603-494-8552

Email: jreilly@bankprov.com



Provident Bancorp, Inc. Names Kenneth Fisher

Executive Vice President and Chief Financial Officer



May 7,2024



[Amesbury, MA] — Provident Bancorp, Inc. (NASDAQ: PVBC) (the “Company”), the holding company for BankProv (the "Bank"), announced today the appointment of Kenneth Fisher as Executive Vice President and Chief Financial Officer of both the Company and the Bank. Mr. Fisher is a CPA and seasoned financial professional who brings over two decades of experience in finance, accounting and executive leadership to his new role.



BankProv — widely recognized in the commercial banking sector for its devotion to empowering local businesses and for its expertise in delivering innovative banking services — welcomes Mr. Fisher as a key addition to its executive team. In his capacity as CFO, Mr. Fisher will oversee our finance, treasury and investor relation functions, while supporting the Company’s strategic initiatives.



Prior to joining BankProv, Mr. Fisher most recently served as CFO at Bluejay Diagnostics, Inc., an early-stage medical diagnostics company. His previous roles include Executive Vice President, Chief Financial Officer, and Treasurer at Meridian Bancorp, Inc. and its subsidiary, East Boston Savings Bank, among others. He holds a Bachelor’s Degree in Business Administration from the Isenberg School of Management at the University of Massachusetts at Amherst and is a graduate of the New England School for Financial Studies.



Joe Reilly, CEO of BankProv, expressed his enthusiasm about Mr. Fisher joining the executive leadership team, stating, "We are delighted to announce Ken's appointment as CFO of BankProv. His extensive experience and proven track record in financial services make him an invaluable asset to our organization as we continue to innovate and grow."



In response to his appointment, Mr. Fisher remarked, "I am thrilled to join BankProv and be part of a team that is committed to driving innovation in the banking industry. I look forward to contributing to the continued success and growth of the company."



About BankProv



Provident Bancorp, Inc. (NASDAQ:PVBC) is the holding company for BankProv, a full-service commercial bank headquartered in Massachusetts. With retail branches in the Seacoast Region of Northeastern Massachusetts and New Hampshire, as well as commercial banking offices in the Manchester/Concord market in Central New Hampshire, BankProv delivers a unique combination of traditional banking services and innovative financial solutions to its markets. Founded in Amesbury, Massachusetts in 1828, BankProv holds the honor of being the 10th oldest bank in the nation. The Bank insures 100% of deposits through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). For more information, visit bankprov.com.

 



Picture 2

Forward-Looking Statements



This news release may contain certain forward-looking statements, such as statements of the Company's or the Bank's plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by the use of words such as, "expects," "subject," "believe," "will," "intends," "may," "will be" or "would." These statements are subject to change based on various important factors (some of which are beyond the Company's or the Bank's control) and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect management's analysis of factors only as of the date on which they are given). Readers should carefully review the risk factors described in other documents that the Company files from time to time with the Securities and Exchange Commission, including Annual and Quarterly Reports on Forms 10-K and 10-Q, and Current Reports on Form 8-K.



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Document and Entity Information
May 06, 2024
Document and Entity Information [Abstract]  
Document Type 8-K
Document Period End Date May 06, 2024
Entity Registrant Name PROVIDENT BANCORP, INC.
Entity Incorporation, State or Country Code MD
Entity File Number 001-39090
Entity Tax Identification Number 84-4132422
Entity Address, Address Line One 5 Market Street
Entity Address, City or Town Amesbury
Entity Address, State or Province MA
Entity Address, Postal Zip Code 01913
City Area Code 978
Local Phone Number 834-8555
Written Communications false
Soliciting Material false
Pre Commencement Tender Offer false
Pre Commencement Issuer Tender Offer false
Title of 12(b) Security Common stock
Trading Symbol PVBC
Security Exchange Name NASDAQ
Entity Emerging Growth Company false
Entity Central Index Key 0001778784
Amendment Flag false
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