Provident Bancorp, Inc. (PVBC) 10-Year Financial Performance & Capital Metrics

PVBC • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutProvident 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.Show more

Net Interest Income $50M -13.2%
Total Revenue $94M -2.0%
Net Income $7M -33.6%
Return on Equity 3.21% -37.1%
Net Interest Margin 3.17% -9.0%
Efficiency Ratio 47.63% -8.3%
ROA 0.45% -32.7%
Equity / Assets 14.5% +9.2%
Book Value per Share 13.77 +3.0%
Tangible BV/Share 13.77 +3.0%
Debt/Equity 0.21 -57.3%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 47.6% efficiency ratio
✓Well capitalized: 14.5% equity/assets
✓Trading near 52-week high
✓Trading at only 1.0x book value

✗Weaknesses

No significant weaknesses identified

Price & Volume

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Growth Metrics

Revenue CAGR

10Y13.24%

5Y11.11%

3Y10.81%

TTM-

Profit (Net Income) CAGR

10Y4.77%

5Y-7.62%

3Y-23.34%

TTM136.14%

EPS CAGR

10Y-0.67%

5Y-6.45%

3Y-22.67%

TTM132.49%

ROCE

10Y Avg4.56%

5Y Avg2.73%

3Y Avg-0.24%

Latest3.8%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	23.28M	26.11M	32.06M	37.13M	43.39M	54.47M	61.43M	75.03M	58.17M	50.49M
NII Growth %	0.11%	0.12%	0.23%	0.16%	0.17%	0.26%	0.13%	0.22%	-0.22%	-0.13%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	25.45M	28.89M	35.78M	42.34M	51.54M	60.4M	64.8M	79.33M	90.3M	89.46M
Interest Expense	2.17M	2.79M	3.73M	5.21M	8.15M	5.93M	3.37M	4.3M	32.13M	38.97M
Loan Loss Provision	805K	703K	2.93M	3.33M	5.33M	5.6M	3.89M	56.43M	-678K	1M
Non-Interest Income+	3.81M	4.43M	9.96M	4.18M	4.11M	3.54M	4.47M	5.22M	5.91M	4.78M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	29.26M	33.33M	45.74M	46.52M	55.65M	63.95M	69.27M	84.55M	96.2M	94.24M
Revenue Growth %	0.08%	0.14%	0.37%	0.02%	0.2%	0.15%	0.08%	0.22%	0.14%	-0.02%
Non-Interest Expense	21.09M	20.48M	23.75M	25.41M	27.56M	35.81M	39.92M	51.08M	49.98M	44.89M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	5.19M	9.36M	15.33M	12.56M	14.62M	16.61M	22.09M	-27.26M	14.78M	9.38M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	-0.14%	0.81%	0.64%	-0.18%	0.16%	0.14%	0.33%	-2.23%	1.54%	-0.37%
Pretax Income+	5.19M	9.36M	15.33M	12.56M	14.62M	16.61M	22.09M	-27.26M	14.78M	9.38M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	1.36M	3.02M	7.42M	3.24M	3.81M	4.63M	5.95M	-5.79M	3.82M	2.11M
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	3.82M	6.34M	7.92M	9.32M	10.81M	11.98M	16.14M	-21.47M	10.95M	7.27M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	-0.16%	0.66%	0.25%	0.18%	0.16%	0.11%	0.35%	-2.33%	1.51%	-0.34%
Net Income (Continuing)	3.82M	6.34M	7.92M	9.32M	10.81M	11.98M	16.14M	-21.47M	10.95M	7.27M
EPS (Diluted)+	0.38	0.69	0.86	1.00	0.60	0.66	0.93	-1.30	0.66	0.43
EPS Growth %	-0.17%	0.82%	0.25%	0.16%	-0.4%	0.1%	0.41%	-2.4%	1.51%	-0.35%
EPS (Basic)	0.38	0.69	0.86	1.01	0.60	0.66	0.96	-1.30	0.66	0.43
Diluted Shares Outstanding	9.5M	9.18M	9.2M	9.31M	18.07M	18.13M	17.3M	16.48M	16.59M	16.78M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Cash & Due from Banks	20.46M	10.71M	47.69M	28.61M	59.66M	83.82M	153.12M	80.63M	220.33M	169.14M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0
Total Investments+	680.54M	742.29M	806.85M	886.93M	1B	1.35B	1.49B	1.44B	1.35B	1.33B
Investments Growth %	0.11%	0.09%	0.09%	0.1%	0.13%	0.35%	0.11%	-0.03%	-0.07%	-0.01%
Long-Term Investments	599.55M	624.42M	745.42M	835.53M	959.29M	1.31B	1.46B	1.42B	1.32B	1.33B
Accounts Receivables	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	0	0	0	0	0	0	0	0	0	0
Intangible Assets	0	0	0	0	0	0	0	0	0	0
PP&E (Net)	11.61M	11.59M	10.98M	16.09M	18.44M	18.97M	18.36M	17.52M	16.77M	13.62M
Other Assets	23.48M	23.73M	29.48M	33.37M	32.52M	49.59M	48.66M	70.19M	62.93M	60.03M
Total Current Assets	103.7M	130.89M	111.46M	82.65M	104.3M	122.41M	195.66M	115.83M	254.99M	174.44M
Total Non-Current Assets	639.7M	664.65M	790.8M	891.42M	1.02B	1.38B	1.53B	1.52B	1.42B	1.42B
Total Assets+	743.4M	795.54M	902.26M	974.08M	1.12B	1.51B	1.73B	1.64B	1.67B	1.59B
Asset Growth %	0.13%	0.07%	0.13%	0.08%	0.15%	0.34%	0.15%	-0.05%	0.02%	-0.05%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	-0.01%	0.01%	0%
Accounts Payable	0	0	0	0	0	0	0	0	0	0
Total Debt+	57.42M	49.86M	26.84M	68.02M	28.88M	17.99M	17.89M	131.11M	108.87M	48.42M
Net Debt	36.96M	39.15M	-20.85M	39.41M	-30.78M	-65.83M	-135.23M	50.48M	-111.46M	-120.72M
Long-Term Debt	57.42M	49.86M	26.84M	68.02M	25M	13.5M	13.5M	18.33M	9.7M	9.56M
Short-Term Debt	0	0	0	0	0	0	0	108.5M	95M	35M
Other Liabilities	7.33M	8.55M	9.59M	12.38M	12.07M	14.51M	17.72M	18.15M	8.32M	4.7M
Total Current Liabilities	577.24M	627.98M	750.06M	768.1M	849.9M	1.24B	1.46B	1.39B	1.43B	1.34B
Total Non-Current Liabilities	64.76M	58.41M	36.43M	80.4M	40.95M	32.5M	35.61M	40.76M	22.18M	18.12M
Total Liabilities	641.99M	686.39M	786.49M	848.5M	890.86M	1.27B	1.5B	1.43B	1.45B	1.36B
Total Equity+	101.41M	109.15M	115.78M	125.58M	230.93M	235.86M	233.78M	207.54M	221.9M	231.09M
Equity Growth %	0.34%	0.08%	0.06%	0.08%	0.84%	0.02%	-0.01%	-0.11%	0.07%	0.04%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.04%	0.06%	0.07%	0.08%	0.06%	0.05%	0.07%	-0.1%	0.05%	0.03%
Book Value per Share	10.68	11.89	12.58	13.49	12.78	13.01	13.51	12.59	13.37	13.77
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	0	0	0	0	195K	191K	179K	177K	177K	178K
Additional Paid-in Capital	43.16M	43.39M	44.59M	45.9M	146.17M	139.45M	123.5M	122.85M	124.13M	125.45M
Retained Earnings	59.89M	66.23M	74.14M	83.35M	94.16M	104.51M	118.09M	94.63M	106.28M	113.56M
Accumulated OCI	1.69M	2.62M	589K	-255K	458K	1.06M	649K	-2.2M	-1.5M	-1.63M
Treasury Stock	0	0	-594K	-788K	0	0	0	0	0	0
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	6.82M	8.61M	9.48M	16.75M	17.51M	18.18M	24.31M	21.91M	5.55M	11.9M
Operating CF Growth %	-0.11%	0.26%	0.1%	0.77%	0.05%	0.04%	0.34%	-0.1%	-0.75%	1.14%
Net Income	3.82M	6.34M	7.92M	9.32M	10.81M	11.98M	16.14M	-21.47M	10.95M	7.27M
Depreciation & Amortization	713K	832K	811K	914K	1.39M	1.09M	1.03M	1.1M	1.09M	1.07M
Deferred Taxes	-966K	-394K	1.31M	-1.24M	-1.05M	-2.2M	-578K	-5.98M	1.87M	691K
Other Non-Cash Items	3.25M	922K	-2.24M	3.61M	4.52M	4.97M	2.77M	55.22M	-1.9M	-273K
Working Capital Changes	-298K	437K	245K	2.61M	-237K	405K	995K	-10.12M	-8.56M	1.02M
Cash from Investing+	-74.96M	-61.55M	-70.96M	-94.83M	-116.63M	-360.45M	-155.72M	-22.34M	104.73M	19.38M
Purchase of Investments	-17.84M	-9.84M	-13.12M	0	-13.73M	0	-13.63M	0	-1.82M	0
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-67.41M	-69.73M	-125.69M	-101.07M	-120.85M	-369.66M	-149.96M	-26.42M	104.28M	17.16M
Cash from Financing+	79.05M	43.18M	98.46M	59.01M	130.17M	366.43M	200.7M	-72.05M	29.42M	-82.47M
Dividends Paid	-167K	0	0	0	0	-1.64M	-2.56M	-1.99M	0	0
Share Repurchases	0	0	-594K	-215K	-193K	-7.96M	-18.96M	-2.97M	-74K	-56K
Stock Issued	41.2M	0	0	0	91.58M	0	0	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	1000K	-1000K	-1000K	1000K	-1000K	-1000K	0	1000K	-1000K	-1000K
Other Financing	36.98M	50.75M	122.08M	18.04M	81.81M	387.52M	222.23M	-180.42M	51.63M	-22.27M
Net Change in Cash+	10.91M	-9.76M	36.98M	-19.08M	31.05M	24.16M	69.3M	-72.49M	139.7M	-51.19M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	9.56M	20.46M	10.71M	47.69M	28.61M	59.66M	83.82M	153.12M	80.63M	220.33M
Cash at End	20.46M	10.71M	47.69M	28.61M	59.66M	83.82M	153.12M	80.63M	220.33M	169.14M
Interest Paid	2.16M	2.78M	3.73M	5.33M	8.15M	5.93M	3.08M	4.28M	31.99M	39.12M
Income Taxes Paid	2.18M	3.08M	6.67M	3.64M	5.01M	6.26M	8.38M	5.16M	163K	334K
Free Cash Flow+	5M	7.74M	6.05M	14.36M	11.26M	17.27M	23.9M	21.64M	5.21M	11.53M
FCF Growth %	-0.29%	0.55%	-0.22%	1.37%	-0.22%	0.53%	0.38%	-0.09%	-0.76%	1.21%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	4.32%	6.02%	7.04%	7.73%	6.06%	5.14%	6.87%	-9.73%	5.1%	3.21%
Return on Assets (ROA)	0.55%	0.82%	0.93%	0.99%	1.03%	0.91%	1%	-1.28%	0.66%	0.45%
Net Interest Margin	3.13%	3.28%	3.55%	3.81%	3.87%	3.62%	3.55%	4.59%	3.48%	3.17%
Efficiency Ratio	72.09%	61.44%	51.93%	54.63%	49.52%	56%	57.63%	60.42%	51.95%	47.63%
Equity / Assets	13.64%	13.72%	12.83%	12.89%	20.58%	15.66%	13.52%	12.68%	13.29%	14.5%
Book Value / Share	10.68	11.89	12.58	13.49	12.78	13.01	13.51	12.59	13.37	13.77
NII Growth	10.98%	12.16%	22.78%	15.82%	16.87%	25.54%	12.78%	22.13%	-22.47%	-13.2%
Dividend Payout	-	-	-	-	-	13.65%	15.86%	-	-	-

Revenue by Segment

	2018	2019
Bank Servicing	1.99M	1.78M
Bank Servicing Growth	-	-10.54%
Deposit Account	1.44M	1.45M
Deposit Account Growth	-	1.18%

Frequently Asked Questions

Valuation & Price

Provident Bancorp, Inc. (PVBC) has a price-to-earnings (P/E) ratio of 31.4x. This suggests investors expect higher future growth.

Growth & Financials

Provident Bancorp, Inc. (PVBC) saw revenue decline by 2.0% over the past year.

Yes, Provident Bancorp, Inc. (PVBC) is profitable, generating $12.5M in net income for fiscal year 2024 (7.7% net margin).

Dividend & Returns

Provident Bancorp, Inc. (PVBC) has a return on equity (ROE) of 3.2%. This is below average, suggesting room for improvement.

Industry Metrics

Provident Bancorp, Inc. (PVBC) has a net interest margin (NIM) of 3.2%. This indicates healthy earnings from lending activities.

Provident Bancorp, Inc. (PVBC) has an efficiency ratio of 47.6%. This is excellent, indicating strong cost control.

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