Provident Bancorp, Inc. (PVBC) Files Form 4 Insider Buying : Charles F Withee Buys 3,000 Shares

Provident Bancorp, Inc. (PVBC): Charles F Withee , Pres. & CLO of Subsidiary Bank of Provident Bancorp, Inc. purchased 3,000 shares on Jul 20, 2016. The Insider buying transaction was reported by the company on Jul 22, 2016 to the Securities and Exchange Commission. The shares were purchased at $15.94 per share for a total value of $47,829.90 , the company said in a SEC Form 4 Filing.

Other Insider transactions have been reported by the company according to SEC Form 4, on May 18, 2016, Wayne S Tatro (director) purchased 80 shares at $14.09 per share price.On Jul 17, 2015, Richard L Peeke (director) purchased 5,000 shares at $10.00 per share price.Also, On Jul 17, 2015, Carol L Houle (CFO) purchased 15,000 shares at $10.00 per share price.On Jul 17, 2015, Robert A Jr Gonthier (director) purchased 3,000 shares at $10.00 per share price.

Provident Bancorp Inc. is the holding company of The Provident Bank (The Bank). The Provident Bank is a Massachusetts-chartered stock savings bank. The Company operates from its main office and approximately two branch offices in the Northeastern Massachusetts area and approximately four branch offices in Southeastern New Hampshire as well as approximately two loan production offices located in Bedford New Hampshire and Nashua New Hampshire. The Bank’s loan portfolio consists of commercial real estate loans multi-family residential real estate loans commercial business loans construction and land development loans one- to four-family residential loans home equity loans and lines of credit and consumer loans. At March 31 2015 net loans were approximately $493.5 million or 74.5% of total assets. As of December 31 2014 multi-family real estate loans were approximately $26.2 million or 5.2% of the Bank’s total loan portfolio.

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