BankProv Donates Over $300,000 to Charities

Rhea-AI Summary

BankProv, a commercial bank based in Amesbury, Massachusetts, has donated over $300,000 to various charities over the past year, reinforcing its commitment to community support. The donations aid organizations focused on social services, economic development, and education. Noteworthy recipients include Our Neighbors' Table, Granite State Children's Alliance, and Anna Jaques Hospital. Joe Reilly, Co-CEO, emphasized the bank's dedication to local community initiatives. BankProv operates as a Banking-as-a-Service provider specializing in technology-driven solutions and is a subsidiary of Provident Bancorp, listed under NASDAQ: PVBC.

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• Donated over $300,000 to charities, enhancing community support.
• Supports diverse initiatives including education and healthcare.

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• None.

AMESBURY, Mass., March 28, 2023 /PRNewswire/ -- BankProv, a future-ready commercial bank that offers technology-driven banking solutions to its clients, has donated more than $300,000 over the last year to charities and non-profit organizations as part of its ongoing commitment to give back to the community.

The Bank has a long-standing tradition of supporting causes that improve the lives of people in need and that help nurture healthy vibrant communities. As a result, it has chosen to donate to a range of organizations that focus on social services, economic development, education, arts and culture.

BankProv's charitable donations and community sponsorships has provided funding to organizations such as Our Neighbors' Table, the Granite State Children's Alliance, Families in Transition, Anna Jaques Hospital and the Anna Jaques Hospital Aid Association, Boys and Girls Club of Lower Merrimack Valley and Manchester, Cross Roads House, Nourishing the North Shore, and many more.

"We are delighted to be able to contribute to the incredible work that these charities are doing," said Joe Reilly, Co-CEO of BankProv. "Giving is woven into the fabric of who we are, and we strongly believe in the importance of supporting the local communities that we serve and making a real difference in people's lives."

The Bank's charitable giving decisions are made at the local level to provide a meaningful connection to each region. BankProv employees serve the community in many ways from helping businesses, volunteering and sharing their expertise toward good causes of all sizes.

"We would like to express our gratitude to BankProv for providing funds to assist with much needed infrastructure that will help create a centralized food hub for the region," Lyndsey Haight, Executive Director for Our Neighbors' Table.

The Bank's donations will be used to fund a variety of initiatives, including educational programs for underprivileged children, healthcare services, and providing those in need access to food.

About BankProv

BankProv, is a subsidiary of Provident Bancorp, Inc. (NASDAQ: PVBC). BankProv is a future-ready commercial bank that offers a comprehensive suite of banking products for corporate clients. The Bank is a premier Banking-as-a-Service (BaaS) provider and specializes in technology-driven banking solutions to niche markets, including renewable energy, fintech and enterprise value lending. Headquartered in Amesbury, Massachusetts, BankProv is the 10^th oldest bank in the nation. The Bank insures 100% of deposits through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). To learn more about the organization, visit bankprov.com.

Forward-Looking Statements

Certain statements contained herein constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as "may," "will," "would," "intend," "believe," "expect," "plan," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of those terms. These statements are based upon the current beliefs and expectations of Company management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to: the effects of any pandemic disease, natural disaster, national or international war, act of terrorism, accident, or similar action or event; those related to the real estate and economic environment, including inflation, particularly in the market areas in which the Company operates; fiscal and monetary policies of the U.S. Government; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; fluctuations in the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; the risk that the Company may not be successful in the implementation of its business strategy; changes in prevailing interest rates; credit risk management; asset-liability management; and other risks described in the Company's filings with the Securities and Exchange Commission, which are available at the SEC's website, www.sec.gov.

The Company wishes to caution readers not to place undue reliance on any such forward-looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above or other factors could affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically disclaims any obligation to publicly release the results of any revisions, which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

Press Contact: Tricia Peters, Vice President of Marketing
Phone: 480-253-8376
Email: tpeters@bankprov.com

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SOURCE BankProv

FAQ

What did BankProv announce on March 28, 2023?

On March 28, 2023, BankProv announced its donation of over $300,000 to various charities as part of its community support initiatives.

Which charities received donations from BankProv?

BankProv donated to charities including Our Neighbors' Table, Granite State Children's Alliance, and Anna Jaques Hospital.

What is the stock symbol for Provident Bancorp?

The stock symbol for Provident Bancorp is PVBC.

How does BankProv support its local communities?

BankProv supports local communities through charity donations and employee volunteering initiatives.