NB Bancorp and Provident Bancorp complete merger

NB Bancorp Inc. (NASDAQ: NBBK) and Provident Bancorp Inc. (NASDAQ: PVBC) announced November 14 that they have satisfied all closing conditions and initiated steps to complete their merger transaction.

The merger will become effective shortly after midnight Eastern Time on November 15, 2025, according to the companies' joint statement. Under the transaction, Provident will merge into NB Bancorp, with NB Bancorp as the surviving entity, while BankProv will merge into Needham Bank.

The conversion of BankProv products and services to Needham Bank's systems is scheduled to occur over the weekend beginning November 15, 2025. Provident common stock was delisted from the NASDAQ Global Select Market following the close of trading on November 14, marking the last day of trading for the stock.

NB Bancorp appointed Joseph B. Reilly as a director of both NB Bancorp and Needham Bank, effective at the merger completion time. "We are honored to have such an influential member of the New England banking community join our board," said Joe Campanelli, president and CEO of NB Bancorp.

The companies previously announced results of allocation and proration procedures on November 13, following a November 7 deadline for Provident stockholders to elect their preferred form of merger consideration.

The merger agreement was originally signed June 5, 2025. NB Bancorp is the holding company for Needham Bank, headquartered in Needham, Massachusetts. Provident Bancorp was the holding company for BankProv, with retail branches in Massachusetts and New Hampshire.

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