Provident Bancorp | 10-Q: FY2025 Q3 Revenue: USD 22.87 M

Revenue: As of FY2025 Q3, the actual value is USD 22.87 M.

EPS: As of FY2025 Q3, the actual value is USD 0.16, beating the estimate of USD 0.13.

EBIT: As of FY2025 Q3, the actual value is USD -9.458 M.

Commercial Real Estate: $597.4 million at September 30, 2025, up from $559.3 million at December 31, 2024, representing 46.98% of total loans at September 30, 2025, compared to 42.16% at December 31, 2024.
Construction and Land Development: $29.9 million at September 30, 2025, up from $28.1 million at December 31, 2024, representing 2.35% of total loans at September 30, 2025, compared to 2.12% at December 31, 2024.
Residential Real Estate: $5.0 million at September 30, 2025, down from $6.0 million at December 31, 2024, representing 0.39% of total loans at September 30, 2025, compared to 0.45% at December 31, 2024.
Mortgage Warehouse: $252.2 million at September 30, 2025, down from $259.2 million at December 31, 2024, representing 19.84% of total loans at September 30, 2025, compared to 19.54% at December 31, 2024.
Commercial: $154.9 million at September 30, 2025, down from $163.9 million at December 31, 2024, representing 12.18% of total loans at September 30, 2025, compared to 12.36% at December 31, 2024.
Enterprise Value: $232.0 million at September 30, 2025, down from $309.8 million at December 31, 2024, representing 18.25% of total loans at September 30, 2025, compared to 23.35% at December 31, 2024.
Consumer: $93,000 at September 30, 2025, down from $271,000 at December 31, 2024, representing 0.01% of total loans at September 30, 2025, compared to 0.02% at December 31, 2024.

Net Income: $2.7 million for the quarter ended September 30, 2025, compared to $716,000 for the quarter ended September 30, 2024.
Net Interest and Dividend Income: $13.2 million for the quarter ended September 30, 2025, compared to $12.4 million for the quarter ended September 30, 2024.
Interest Rate Spread: 2.63% for the quarter ended September 30, 2025, compared to 2.19% for the quarter ended September 30, 2024.
Net Interest Margin: 3.67% for the quarter ended September 30, 2025, compared to 3.38% for the quarter ended September 30, 2024.
Provision for Credit Losses: - $418,000 for the quarter ended September 30, 2025, compared to $1.7 million for the quarter ended September 30, 2024.
Noninterest Income: $1.6 million for the quarter ended September 30, 2025, compared to $1.7 million for the quarter ended September 30, 2024.
Noninterest Expense: $11.4 million for the quarter ended September 30, 2025, compared to $11.6 million for the quarter ended September 30, 2024.
Income Tax Expense: $1.1 million for the quarter ended September 30, 2025, compared to $132,000 for the quarter ended September 30, 2024.

Operating Cash Flow: $11.5 million for the nine months ended September 30, 2025, compared to $7.0 million for the nine months ended September 30, 2024.
Investing Cash Flow: $62.0 million for the nine months ended September 30, 2025, compared to - $65.7 million for the nine months ended September 30, 2024.
Financing Cash Flow: - $113.7 million for the nine months ended September 30, 2025, compared to - $22.9 million for the nine months ended September 30, 2024.

Allowance for Credit Losses for Loans: $20.4 million at September 30, 2025, compared to $21.1 million at December 31, 2024.
Non-Performing Loans: $34.4 million at September 30, 2025, compared to $20.9 million at December 31, 2024.
Non-Performing Loans as a Percent of Total Loans: 2.71% at September 30, 2025, compared to 1.57% at December 31, 2024.
Non-Performing Loans as a Percent of Total Assets: 2.31% at September 30, 2025, compared to 1.31% at December 31, 2024.

Core Business Focus: The Company aims to continue reducing its enterprise value loan exposure while growing its commercial real estate portfolio. The strategic focus includes enhancing credit management practices and improving analytics for better monitoring of early warning risk indicators.
Non-Core Business: The Company is in the process of merging with NB Bancorp, Inc., with the expected completion date on or about November 15, 2025. This merger will result in the Company ceasing to exist as a separate legal entity.