NB Bancorp Inc.
10/20/2025 | Press release | Distributed by Public on 10/20/2025 16:42
NB BANCORP, INC. AND PROVIDENT BANCORP, INC. ANNOUNCE THE RECEIPT OF ALL REGULATORY APPROVALS TO MERGE AND ANTICIPATED CLOSING DATE (Form 8-K)
NB BANCORP, INC. AND PROVIDENT BANCORP, INC. ANNOUNCE THE RECEIPT OF ALL REGULATORY APPROVALS TO MERGE AND ANTICIPATED CLOSING DATE
Needham, Massachusetts and Amesbury, Massachusetts, October 20, 2025. NB Bancorp, Inc. (NASDAQ: NBBK) ("Needham"), the holding company of Needham Bank, and Provident Bancorp, Inc. (NASDAQ: PVBC) ("Provident"), the holding company of BankProv, jointly announce the following in connection with Needham's proposed acquisition of Provident:
| · | All required regulatory approvals have now been received to complete the proposed merger (the "Merger"), which was previously announced on June 5, 2025. |
| · | The proposed Merger is expected to be completed on or about November 14, 2025, subject to the satisfaction of the remaining customary closing conditions. Provident stockholders approved the Merger on September 16, 2025. |
"Obtaining all required regulatory approvals in the timeframe we were able to secure them speaks to the commitment and efforts of these two organizations coming together as one," said Joseph Campanelli, Chairman, President and Chief Executive Officer at Needham. "We look forward to expanding our footprint to the north and bringing the same products and services that have defined our 133-year history, while continuing to serve the needs of our customers, employees, and communities as a true community bank."
"I am proud of what BankProv has built, and I'm equally excited to see how Needham Bank will take that foundation even further," said Joseph Reilly, President and Chief Executive Officer at Provident. "Their commitment to innovation and community mirrors our own, and I am excited for the opportunities this next chapter will create."
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