The Provident Bank in Amesbury, Massachusetts (MA), NH
Overview, Financial Summary, Detailed Financial Reports, Branches


The Provident Bank - Overview

  • General
  • FDIC Certificate #: 90141
    Status: Active
    Federal Reserve ID: 375502
    Bank Holding Company (Regulatory Top Holder): Provident Bancorp (RSSDID: 2838159, Location: Amesbury, MA)
    Date Established: January 01, 1828
    WWW: http://www.theprovidentbank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 7 (Domestic: 7, Interstate: Yes)
    OTS Docket #: 11438
    FDIC's unique #: 17736
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: July 01, 1985
    Last Structure Change Effective Date: March 31, 2006
    Last Structure Change Process Date: November 03, 2006
    Last Data Update: November 03, 2006
    Data Source Date: April 05, 2012
  • Location
  • Address: Five Market Street, Amesbury, MA 1913
    County: Essex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Peabody, MA (#37764)
  • History of Changes
  • Merge BIF and SAIF Funds into DIF
  • Financial Summary
  • Total assets: $530.8 mil
    Equity capital: $64.1 mil
    Deposits held in domestic offices: $404.6 mil
    Return on assets (ROA): 0.93% ($4.9 mil)
    Quarterly return on assets: 0.65% ($3.5 mil)
    Return on Equity (ROE): 9.00% ($5.8 mil)
    Quarterly return on equity: 5.30% ($3.4 mil)
    Net income: $4.7 mil
    Quarterly Net income: $0.8 mil
    Pretax return on assets: 1.32% ($7,006.0 mil)
    Quarterly Pretax return on assets: 0.61% ($3,237.6 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 104Total employees (full-time equivalent)
  • $530,755Total assets
  • $18,603Cash and due from depository institutions
  • $11,149Interest-bearing balances
  • $136,553Securities
  • $319Federal funds sold & reverse repurchase agreements
  • $345,664Net loans & leases
  • $4,507Loan loss allowance
  • $0Trading account assets
  • $10,839Bank premises and fixed assets
  • $755Other real estate owned
  • $0Goodwill and other intangibles
  • $530,755Life insurance assets
  • $18,022All other assets
  • $466,689Total liabilities and capital
  • $404,598Total liabilities
  • $339,769Total deposits
  • $404,598Interest-bearing deposits
  • $79Deposits held in domestic offices
  • 21264.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $33,602Trading liabilities
  • $0Other borrowed funds
  • $7,225Subordinated debt
  • $64,066All other liabilities
  • $64,066Total equity capital
  • $64,066Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $61,818Surplus
  • $1,748Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $0Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $2,898Income earned, not collected on loans
  • $0Earning assets
  • $1,672Long-term assets (5+ years)
  • $493,685Average Assets, year-to-date
  • $193,732Average Assets, quarterly
  • $507,534Volatile liabilities
  • $522,031Insider loans
  • $356,035FHLB advances
  • $489,960Loans and leases held for sale
  • $5,547Unused loan commitments
  • $5,547Tier 1 (core) risk-based capital
  • $62,318Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $65,494Restructured Loans and leases
  • $7,472Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $21,248Total interest income
  • $4,248Total interest expense
  • $17,000Net interest income
  • $458Provision for loan and lease losses
  • $3,259Total noninterest income
  • $0Fiduciary activities
  • $1,496Service charges on deposit accounts
  • $0Trading account gains & fees
  • $1,763Additional noninterest income
  • $16,311Total noninterest expense
  • $9,823Salaries and employee benefits
  • $1,793Premises and equipment expense
  • $4,695Additional noninterest expense
  • $3,490Pre-tax net operating income
  • $3,215Securities gains (losses)
  • $1,992Applicable income taxes
  • $4,713Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,713Net income attributable to bank
  • $0Net charge-offs
  • $4,713Cash dividends
  • $341Sale, conversion, retirement of capital stock, net
  • $300Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.52%Yield on earning assets
  • 0.90%Cost of funding earning assets
  • 3.61%Net interest margin
  • 0.69%Noninterest income to earning assets
  • 3.47%Noninterest expense to earning assets
  • 0.49%Net operating income to assets
  • 0.93%Return on assets (ROA)
  • 1.32%Pretax return on assets
  • 9.00%Return on equity (ROE)
  • 8.43%Retained earnings to average equity (YTD only)
  • 0.10%Net charge-offs to loans
  • 134.31%Credit loss provision to net charge-offs
  • 11.58%Efficiency ratio
  • 80,512Assets per employee
  • 5.10%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 6.37%Loss allowance to loans
  • 1.29%Loss allowance to noncurrent loans
  • 155.52%Noncurrent assets plus other real estate owned to assets
  • 0.76%Noncurrent loans to loans
  • 0.83%Net loans and leases to deposits
  • 85.43%Net loans and leases to core deposits
  • 91.51%Equity capital to assets
  • 12.07%Core capital (leverage) ratio
  • 12.72%Tier 1 risk-based capital ratio
  • 17.50%Total risk-based capital ratio
  • Memoranda
  • $19Average assets
  • $507,534Average earning assets
  • $52,375Average equity
  • $470,407Average loans

List of branches

  • 3 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017736The Provident BankFive Market Street, Amesbury, MA 1913January 01, 1828Full Service Brick and Mortar
    1290952Haverhill Road Branch1 Haverhill Road, Amesbury, MA 1913December 05, 1988Full Service Brick and Mortar
    4418694Storey Avenue Branch66 Storey Avenue, Newburyport, MA 1950September 25, 2002Full Service Brick and Mortar
  • 4 New Hampshire Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    6432417Seabrook BranchOne South Access Road, Seabrook, NH 3874October 12, 2004Full Service Brick and Mortar
    7441991Portsmouth Nh Branch21 Daniel Street, Portsmouth, NH 3801June 01, 2005Full Service Brick and Mortar
    9483410Exeter Branch95 Portsmouth Street, Exeter, NH 3833December 04, 2008Full Service Brick and Mortar
    10506572Hampton Branch321 Lafayette Road, Hampton, NH 3843Febuary 02, 2010Full Service Brick and Mortar

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