NB Bancorp (NBBK) Completes Merger with Provident Bancorp

By Tamara Parker • Monday, November 17 06:02 • Permanent Link

Needham, MA & Amesbury, MA * November 14, 2025 * NB Bancorp, Inc. ("Needham") (NASDAQ: NBBK) and Provident Bancorp, Inc. ("Provident") (NASDAQ: PVBC) have officially closed their merger. The merger, which involved the conversion of BankProv products and services to Needham Bank's products and services, is scheduled to take place over the weekend beginning on November 15, 2025.

As part of the merger, Needham has appointed Joseph B. Reilly to become a director of Needham and Needham Bank, effective as of the effective time. Joe Campanelli, President and CEO of Needham, expressed his excitement about Reilly joining the board, citing his leadership and vast experience as an incredible asset for Needham Bank in the northern Massachusetts and southern New Hampshire markets.

Additionally, it was announced that the deadline for holders of Provident common stock to elect their preferred form of merger consideration was 5:00 p.m. (Eastern time) on November 7, 2025. The results of the allocation and proration procedures set forth in the merger agreement were announced on November 13, 2025.

Furthermore, Provident common stock will be delisted from the NASDAQ Global Select Market following the close of trading on November 14, 2025, the last day on which Provident common stock will trade.

These developments mark a significant milestone for both Needham and Provident as they continue to navigate the changing landscape of the banking industry. As a result of these announcements, the company's shares have moved 1.42% on the market, and are now trading at a price of $19.29. For more information, read the company's full 8-K submission here.

The above analysis is intended for educational purposes only and was performed on the basis of publicly available data. It is not to be construed as a recommendation to buy or sell any security. Any buy, sell, or other recommendations mentioned in the article are direct quotations of consensus recommendations from the analysts covering the stock, and do not represent the opinions of Market Inference or its writers. Past performance, accounting data, and inferences about market position and corporate valuation are not reliable indicators of future price movements. Market Inference does not provide financial advice. Investors should conduct their own review and analysis of any company of interest before making an investment decision.