Provident Bancorp is the holding company for BankProv, a Massachusetts-chartered community savings bank headquartered in Amesbury, MA. BankProv gathers deposits from retail and commercial customers in its local market, as well as nationwide business customers and brokered relationships, then deploys those funds into commercial loans. The bank operates eight branches in Northeastern Massachusetts and Southeastern New Hampshire, targeting small- and mid-sized businesses, real estate investors, and non-bank mortgage companies. BankProv's loan portfolio totals approximately $1.33B across four main categories: commercial real estate (~42%), enterprise value loans (~23%), mortgage warehouse loans (~20%), and commercial business loans (~12%). Commercial real estate loans are secured by business properties and focus on experienced regional investors. Enterprise value loans support business acquisitions and recapitalizations, using business cash flows and intangible assets as collateral rather than hard assets — a higher-risk, higher-yield product that shrank from ~$434M to ~$310M in 2024 due to credit stress. Mortgage warehouse lending provides short-term credit facilities to non-bank mortgage originators nationwide, with advances typically repaid within 15 days when the originator sells loans to secondary market investors. BankProv earns money through net interest margin — borrowing at lower rates via deposits and lending at higher rates. The bank previously operated a digital asset lending business but exited that segment entirely in 2024.