Provident Bancorp, Inc. Reports Net Income of $2.7 Million for the Quarter Ended September 30, 2025

Provident Bancorp, Inc. (the “Company”) (NasdaqCM: PVBC), the holding company for BankProv (the “Bank”), reportednet income for the quarter ended September 30, 2025of $2.7million, or$0.16per diluted share,compared to net income of $2.8million, or $0.17per diluted share, for the quarter endedJune 30, 2025, andnet income of $716,000, or $0.04per diluted share, for the quarter ended September 30, 2024. For the nine months endedSeptember 30, 2025, net income was $7.7million, or $0.45per diluted share, compared to net income of $2.4 million, or $0.14 per diluted share, for the nine months ended September 30, 2024.

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The Company's return on average assets was 0.70% for the quarter endedSeptember 30, 2025, compared to 0.74% for the quarter endedJune 30, 2025, and 0.18% for the quarter endedSeptember 30, 2024.The Company's return on average equity was 4.45% for the quarter endedSeptember 30, 2025, compared to 4.77% for the quarter endedJune 30, 2025, and 1.27% for the quarter endedSeptember 30, 2024.For thenine months ended September 30, 2025, the Company's return on average assets was 0.67%, compared to 0.20%for thenine months ended September 30, 2024. For thenine months ended September 30, 2025, the Company's return on average equity was 4.32%, compared to 1.41%for thenine months ended September 30, 2024.

For the quarter endedSeptember 30, 2025, net interest and dividend income was $13.2million, adecrease of $341,000, or 2.5%, from the quarter endedJune 30, 2025, and a $777,000, or 6.3%, increase from the quarter endedSeptember 30, 2024. The interest rate spread and net interest margin were 2.63% and 3.67%for the quarter endedSeptember 30, 2025, respectively, compared to 2.79% and 3.77%for the quarter endedJune 30, 2025, respectively, and 2.19% and 3.38% for the quarter endedSeptember 30, 2024, respectively. For thenine months ended September 30, 2025, net interest and dividend income was $39.6 million, an increase of$2.8million, or 7.4%, compared to $36.8 million for thenine months ended September 30, 2024. The interest rate spreadand net interest margin were 2.68% and 3.70%for thenine months ended September 30, 2025, respectively, compared to2.19%, and 3.34% for thenine months ended September 30, 2024, respectively.

Total interest and dividend income was $21.3 million for the quarters ended September 30, 2025 and June 30, 2025,a decrease of $1.1 million, or 5.0%, from the quarter ended September 30, 2024. The Company's yield on interest earning assets was 5.92% for the quarter ended September 30, 2025,5.94% for the quarter ended June 30, 2025, and 6.11%for the quarter ended September 30, 2024. For the nine months ended September 30, 2025, total interest and dividend income was $63.2 million, a decrease of $3.1 million, or 4.7%, from $66.3 million for the nine months ended September 30, 2024. The Company's yield on interest-earning assets was 5.90% for the ninemonths ended September 30, 2025, a decrease of 12 basis points from 6.02% for the nine months ended September 30, 2024.For the quarter ended September 30, 2025, the yield on the loan portfoliowas 6.13%, an increase of fourbasis points from 6.09% for the quarter ended June 30, 2025, and a decrease of 12 basis points compared to the quarter ended September 30, 2024. For the nine months ended September 30, 2025, the yield on the loan portfolio was 6.07%, representing an eight basis point reduction from the nine months ended September 30, 2024.

Total interest expense was $8.1 million for the quarter ended September 30, 2025, an increase of $351,000, or 4.5%, from $7.8million for the quarter ended June 30, 2025, and a decrease of $1.9 million, or 18.9%, from $10.0 million for the quarter ended September 30, 2024.Interest expense on deposits was $7.9million for the quarter ended September 30, 2025, a $616,000, or 8.5%, increase from $7.3million for the quarter ended June 30, 2025, that was due to a $27.4 million, or 2.9%, increase in the average balance of interest-bearingdeposits and a 17 basis point increase in the cost of interest-bearing deposits. Interest expense on deposits decreased $1.2 million, or 13.1%, from $9.1 million for the quarter ended September 30, 2024, primarily due to a 55 basis point reduction in the cost of interest-bearing deposits, partially offset by a $14.0 million, or 1.5%, increase in the average balance of interest-bearing deposits.Interest expense on borrowings was $247,000 for the quarter ended September 30, 2025, representing decreases of $265,000, or 51.8%, from the quarter ended June 30, 2025, and $705,000, or 74.1%, from the quarter ended September 30, 2024, driven by decreases in the average balance and cost of borrowings compared to prior periods. The Company's total cost of interest-bearing liabilities was 3.29% for the quarter ended September 30, 2025, an increaseof 14 basis points from 3.15% for the quarter ended June 30, 2025, and a decrease of 63 basis points from the quarter ended September 30, 2024.

Total interest expense decreased $5.9 million, or 20.0%, to $23.6 millionfor thenine months ended September 30, 2025, compared to $29.5 million for thenine months ended September 30, 2024.Interest expense on deposits was $22.5 million for thenine months ended September 30, 2025, adecrease of $5.5 million, or 19.7%, from $28.0 million for thenine months ended September 30, 2024. Thedecrease was driven bya 59 basis point decrease in the average cost ofinterest-bearing deposits, from 3.80% to 3.21% and a decrease in the average balance of deposits, primarily due to a decrease in higher-cost savings accounts obtained through listing services. For thenine months ended September 30, 2025, interest expense on borrowings decreased $378,000, or 25.7%, primarily due toa131 basis point decrease in the average cost of borrowings. The Company's total cost of interest-bearing liabilities was 3.22% for the nine months ended September 30, 2025,adecrease of 61basis pointsfrom 3.83%for thenine months ended September 30, 2024.The decrease in interest expense compared to the prior year reflects the Bank's proactive management of deposit pricing in response to prevailing interest rate trends, as well as a strategic balancing of funding sources in anticipation of rate movements and liquidity needs.

The Company recognized a $418,000 credit loss benefit for the quarter ended September 30, 2025, compared to a $378,000 benefit for the quarter ended June 30, 2025, and a $1.7 million credit loss expense for the quarter ended September 30, 2024.For thenine months ended September 30, 2025, the Company recognized an $808,000 credit loss benefit, compared to a credit loss expense of $2.6 millionfor the nine months ended September 30, 2024. Thecredit loss benefit for the 2025 periodswas primarily driven by a reduction in pooled reserves, largely reflecting a decline in total loans, specifically within the enterprise value portfolio, which typically carries a higher reserve rate than other loan categories.This benefit was partially offset by a year-to-date increase of $662,000 in individually analyzed reserves, primarily recorded in the first quarter of 2025.

Net charge-offs totaled $29,000 for the quarter ended September 30, 2025, compared to net recoveries of $20,000for the quarter ended June 30, 2025, and net charge-offs of $84,000 for the quarter ended September 30, 2024. Net charge-offs totaled $6,000 for thenine months ended September 30, 2025, compared to net charge-offs of $2.2million for thenine months ended September 30, 2024.

Noninterest income was $1.6 million for the quarter endedSeptember 30, 2025, compared to $2.2 million for the quarter endedJune 30, 2025, and $1.7million for the quarter endedSeptember 30, 2024. For thenine months ended September 30, 2025, noninterest income increased $582,000, or 12.7%, to$5.2 million, from $4.6 million for thenine months ended September 30, 2024. Noninterest income includesa $745,000 gain on a sale/leaseback transaction for the Bank'smain office building, recognized during the second quarter of 2025.

Noninterest expense was $11.4 million for the quarter endedSeptember 30, 2025, adecrease of $657,000, or 5.4%, from the quarter endedJune 30, 2025, and a decrease of $142,000, or 1.2%, from the quarter ended September 30, 2024. The decreasefrom the prior quarterwas primarily attributable to a reduction inmerger-related expenses, andthe reversal of a previously recognized loss contingency of $350,000 in the third quarter of 2025. This contingency, originally recorded under other expenses in connection with the previously-disclosed Wells Notice received from theSecurities and Exchange Commission (the “SEC”), was reversed followingthe SEC's determination that it would not recommendenforcement action.Noninterest expense was $35.0 million for the nine months endedSeptember 30, 2025, a decrease of $948,000, or 2.6%, from $35.9 million for the nine months endedSeptember 30, 2024. The decrease wasprimarily due to decreases in professional fees of$582,000, or 18.8%. Nondeductible merger-related expenses, primarily included in professional feesweremore than offset by continued improvements in organizational efficiency.

The Company recorded anincome tax provision of $1.1 million for the quarter ended September 30, 2025, reflecting an effective tax rate of 28.4%, compared to $1.2 million, or an effective tax rate of 30.2%, for the quarter ended June 30, 2025, and $132,000, or an effective tax rate of 15.6%,for the quarter ended September 30, 2024.Forthenine months ended September 30, 2025, the Company recorded a provision for income tax of $2.9million, reflecting an effective tax rate of 27.8%, compared to $571,000, or an effective tax rate of 19.3%, for thenine months ended September 30, 2024. The increase in effective tax rates in 2025 wasprimarily due to nondeductible merger-related expenses, which totaled $847,000 for the nine months ended September 30, 2025.

Total assets were $1.49 billion at September 30, 2025, a decrease of $49.3million, or 3.2%, from $1.54billion at June 30, 2025, and a decrease of $101.5million, or 6.4%, from $1.59 billion at December 31, 2024.Cash and cash equivalents decreased $28,000from June 30, 2025, and $40.3million, or 23.8%, from December 31, 2024.Net loans were $1.25billion at September 30, 2025, a decrease of $42.5 million, or 3.3%, from June 30, 2025, and a decrease of $54.5 million, or 4.2%, from December 31, 2024.The decrease in net loans over the prior quarter was primarily due to decreases in mortgage warehouse loans of $31.9 million, or 11.2% and the strategic decrease inenterprise value loans of $14.4 million, or 5.8%, partially offset by targeted growth of commercial real estate loans of $16.6 million, or 2.9%. over the prior quarter. The decrease in net loans from December 31, 2024 was primarily due to the decrease in enterprise value loans of $77.8 million, or 25.1%, partially offset by an increase in the commercial real estate portfolio of $38.0 million, or 6.8%.

The allowance for credit losses forloans was $20.4million, or 1.61% of total loans, as of September 30, 2025, compared to $20.8 million, or 1.58% of total loans, as of June 30, 2025, and $21.1 million, or 1.59% of total loans as of December 31, 2024.Non-accrual loans were $34.4 million, or 2.31% of total assets, as of September 30, 2025, compared to $34.4 million, or 2.24% of total assets as of June 30, 2025, and $20.9 million, or 1.31% of total assets, as of December 31, 2024.

Total deposits were $1.23billion at September 30, 2025, a decrease of $25.6 million, or 2.0%, from $1.26 billion at June 30, 2025, and a decrease of $76.6million, or 5.8%, from $1.31 billion at December 31, 2024.The decrease in deposits fromJune 30, 2025 was primarily due to a $12.3 million, or 51.0%, decrease in listing service deposits and a $15.0 million, or 9.1%, decrease in brokered deposits. The decrease in deposits from December 31, 2024 was primarily due to a $40.6 million, or 3.7%, decrease in retail depositsand a $35.8million, or 75.2%, decrease in listing service deposits.Total borrowings were $7.5 million atSeptember 30, 2025, a decrease of $27.0million, or 78.4%,fromJune 30, 2025, and a decrease of $37.1 million, or 83.3%, from December 31, 2024,reflecting a proactive liquidity management strategy that aims to balance funding sources resulting in a reduced need to utilize short-term funding for current operations at September 30, 2025.

As of September 30, 2025, shareholders' equity totaled $241.0million, an increase of $3.7million, or 1.5%, fromJune 30, 2025, and an increase of $9.9 million, or 4.3%, from December 31, 2024 primarily due tothe Company's net income. Shareholders' equity to total assets was 16.2% at September 30, 2025, compared to 15.4% atJune 30, 2025and 14.5% at December 31, 2024.Book value per share was $13.55at September 30, 2025, an increase from $13.35 at June 30, 2025and $12.99 at December 31, 2024.As of September 30, 2025, the Bank was categorized as well capitalized under the Federal Deposit Insurance Corporation regulatory framework for prompt corrective action.

About Provident Bancorp, Inc.

Provident Bancorp, Inc. (NASDAQ:PVBC) is the holding company for BankProv, a full-service commercial bank headquartered in Massachusetts. With retail branches in the Seacoast Region of Northeastern Massachusetts and New Hampshire, as well as commercial banking offices in the Manchester/Concord market in Central New Hampshire, BankProv delivers a unique combination of traditional banking services and innovative financial solutions to its markets. Founded in Amesbury, Massachusetts in 1828, BankProv holds the honor of being the 10th 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). For more information, visit bankprov.com.

Forward-Looking Statements

Thisnews release may contain certain forward-looking statements, such as statements of the Company's or the Bank's plans, objectives, expectations, estimates and intentions. Forward-looking statements may be identified by the use of words such as, “expects,” “subject,” “believe,” “will,” “intends,” “may,” “will be” or “would.” These statements are subject to change based on various important factors (some of which are beyond the Company's or the Bank's control), and actual results may differ materially. Accordingly, readers should not place undue reliance on any forward-looking statements (which reflect management's analysis of factors only as of the date on which they are given). These factors include: those related to the status of our proposed merger with NB Bancorp, Inc., general economic conditions, including potential recessionary conditions; interest rates; inflation;levels of unemployment; legislative, regulatory and accounting changes; monetary and fiscal policies of the U.S. Government, including policies of the U.S. Treasury and the Board of Governors of the Federal Reserve Bank; the impact of the federal government shutdown; deposit flows; our ability to access cost-effective funding; changes in liquidity, including the size and composition of our deposit portfolio; changes in investor sentiment andconsumer spending, borrowing and savings habits; competition; the imposition of tariffs or other domestic or international governmental policies and retaliatory responses;our ability to successfully shift the balance sheet to that of a traditional community bank; real estate values in the market area; loan demand; the adequacy of our level and methodology for calculating our allowance for credit losses; changes in the quality of our loan and securities portfolios; the ability of our borrowers to repay their loans; an unexpected adverse financial, regulatory or bankruptcy event experienced by our cryptocurrency, digital asset or financial technology (“fintech”) customers; our ability to retain key employees; failures or breaches of our IT systems, including cyberattacks; the failure to maintain current technologies; the ability of the Company or the Bank to effectively manage its growth; global and national war and terrorism; the impact of a pandemicon our operations and financial results and those of our customers; and results of regulatory examinations, among other factors. The foregoing list of important factors is not exclusive. Readers should carefully review the risk factors described in other documents that the Company files from time to time with the Securities and Exchange Commission, including Annual and Quarterly Reports on Forms 10-K and 10-Q, and Current Reports on Form 8-K.

Investor contact: Joseph Reilly President and Chief Executive Officer Provident Bancorp, Inc. jreilly@bankprov.com

Provident Bancorp, Inc.Consolidated Balance Sheet At At At September 30, June 30, December 31, 2025 2025 2024(Dollars in thousands) (unaudited) (unaudited)AssetsCash and due from banks $ 19,373 $ 21,700 $ 27,536Short-term investments 109,508 107,209 141,606Cash and cash equivalents 128,881 128,909 169,142Debt securities available-for-sale (at fair value) 24,441 24,534 25,693Federal Home Loan Bank stock, at cost 1,004 2,242 2,697Loans:Commercial real estate 597,361 580,750 559,325Construction and land development 29,895 37,362 28,097Residential real estate 4,972 4,936 6,008Mortgage warehouse 252,208 284,154 259,181Commercial 154,858 160,596 163,927Enterprise value 231,991 246,382 309,786Consumer 93 85 271Total loans 1,271,378 1,314,265 1,326,595Allowance for credit losses for loans (20,414) (20,796) (21,087)Net loans 1,250,964 1,293,469 1,305,508Bank owned life insurance 47,028 46,679 46,017Premises and equipment, net 10,062 10,127 10,188Accrued interest receivable 4,210 4,877 5,296Right-of-use assets 5,431 5,488 3,429Deferred tax asset, net 11,890 12,631 13,808Other assets 7,712 11,925 11,392Total assets $ 1,491,623 $ 1,540,881 $ 1,593,170Liabilities and Shareholders' EquityDeposits:Noninterest-bearing demand deposits $ 280,288 $ 287,927 $ 351,528NOW 87,268 103,115 83,270Regular savings 90,578 105,123 132,198Money market deposits 470,800 463,100 463,687Certificates of deposit 303,457 298,713 278,277Total deposits 1,232,391 1,257,978 1,308,960Borrowings:Short-term borrowings 3,000 25,000 35,000Long-term borrowings 4,462 9,495 9,563Total borrowings 7,462 34,495 44,563Operating lease liabilities 5,900 5,939 3,862Commitments and contingencies – 350 -Other liabilities 4,841 4,748 4,698Total liabilities 1,250,594 1,303,510 1,362,083Shareholders' equity:Preferred stock, $0.01 par value, 50,000 shares authorized; no shares issued and outstanding – – -Common stock, $0.01 par value, 100,000,000 shares authorized; 17,782,946, 17,785,538, and 17,788,543 shares issued and outstanding at September 30, 2025, June 30, 2025 and December 31, 2024, respectively 178 178 178Additional paid-in capital 126,772 126,329 125,446Retained earnings 121,225 118,555 113,561Accumulated other comprehensive loss (1,212) (1,578) (1,625)Unearned compensation – ESOP (5,934) (6,113) (6,473)Total shareholders' equity 241,029 237,371 231,087Total liabilities and shareholders' equity $ 1,491,623 $ 1,540,881 $ 1,593,170Provident Bancorp, Inc.Consolidated Income Statements(Unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, September 30,(Dollars in thousands, except per share data) 2025 2025 2024 2025 2024Interest and dividend income:Interest and fees on loans $ 19,606 $ 20,085 $ 21,257 $ 58,998 $ 61,637Interest and dividends on debt securities available-for-sale 220 231 240 711 720Interest on short-term investments 1,484 984 932 3,481 3,979Total interest and dividend income 21,310 21,300 22,429 63,190 66,336Interest expense:Interest on deposits 7,877 7,261 9,068 22,507 28,015Interest on short-term borrowings 219 482 916 1,007 1,375Interest on long-term borrowings 28 30 36 88 98Total interest expense 8,124 7,773 10,020 23,602 29,488Net interest and dividend income 13,186 13,527 12,409 39,588 36,848Credit loss (benefit) expense – loans (353) (384) 1,666 (667) 2,590Credit loss (benefit) expense – off-balance sheet credit exposures (65) 6 27 (141) (20)Total credit loss (benefit) expense (418) (378) 1,693 (808) 2,570Net interest and dividend income after credit loss (benefit) expense 13,604 13,905 10,716 40,396 34,278Noninterest income:Customer service fees on deposit accounts 686 690 813 2,091 2,152Service charges and fees – other 306 442 486 1,024 1,144Bank owned life insurance income 349 335 327 1,011 948Other income 217 764 82 1,043 343Total noninterest income 1,558 2,231 1,708 5,169 4,587Noninterest expense:Salaries and employee benefits 7,749 7,338 7,267 22,663 22,705Occupancy expense 426 376 452 1,250 1,302Equipment expense 115 120 159 379 471Deposit insurance 331 294 334 957 988Data processing 429 410 416 1,260 1,231Marketing expense 61 62 57 168 151Professional fees 823 1,124 800 2,516 3,098Directors' compensation 197 197 233 589 584Software depreciation and implementation 532 532 614 1,617 1,741Insurance expense 224 224 303 669 907Service fees 294 371 405 983 881Other 253 1,043 536 1,906 1,846Total noninterest expense 11,434 12,091 11,576 34,957 35,905Income before income tax expense 3,728 4,045 848 10,608 2,960Income tax expense 1,058 1,221 132 2,944 571Net income $ 2,670 $ 2,824 $ 716 $ 7,664 $ 2,389Earnings per share:Basic $ 0.16 $ 0.17 $ 0.04 $ 0.45 $ 0.14Diluted $ 0.16 $ 0.17 $ 0.04 $ 0.45 $ 0.14Weighted Average Shares:Basic 16,897,892 16,860,744 16,748,404 16,860,555 16,708,363Diluted 17,071,693 16,954,078 16,811,614 16,982,799 16,754,858Provident Bancorp, Inc.Net Interest Income Analysis(Unaudited) For the Three Months Ended September 30, 2025 June 30, 2025 September 30, 2024 Interest Interest Interest Average Earned/ Yield/ Average Earned/ Yield/ Average Earned/ Yield/(Dollars in thousands) Balance Paid Rate (5) Balance Paid Rate (5) Balance Paid Rate (5)Assets:Interest-earning assets:Loans (1) $ 1,278,662 $ 19,606 6.13 % $ 1,320,244 $ 20,085 6.09 % $ 1,359,712 $ 21,257 6.25 %Short-term investments 134,014 1,484 4.43 % 87,843 984 4.48 % 78,925 932 4.72 %Debt securities available-for-sale 24,360 172 2.82 % 24,786 182 2.94 % 27,367 201 2.94 %Federal Home Loan Bank stock 1,984 48 9.68 % 2,596 49 7.55 % 3,476 39 4.49 %Total interest-earning assets 1,439,020 21,310 5.92 % 1,435,469 21,300 5.94 % 1,469,480 22,429 6.11 %Noninterest earning assets 84,381 87,489 94,258Total assets $ 1,523,401 $ 1,522,958 $ 1,563,738Liabilities and shareholders' equity:Interest-bearing liabilities:Savings accounts $ 100,987 $ 204 0.81 % $ 106,622 $ 215 0.81 % $ 155,726 $ 898 2.31 %Money market accounts 474,957 4,023 3.39 % 446,440 3,733 3.34 % 479,276 4,823 4.03 %NOW accounts 84,974 333 1.57 % 92,260 395 1.71 % 79,527 311 1.56 %Certificates of deposit 298,997 3,317 4.44 % 287,166 2,918 4.06 % 231,373 3,036 5.25 %Total interest-bearing deposits 959,915 7,877 3.28 % 932,488 7,261 3.11 % 945,902 9,068 3.83 %BorrowingsShort-term borrowings 20,196 219 4.34 % 43,989 482 4.38 % 66,727 916 5.49 %Long-term borrowings 8,604 28 1.30 % 9,507 30 1.26 % 9,607 36 1.50 %Total borrowings 28,800 247 3.43 % 53,496 512 3.83 % 76,334 952 4.99 %Total interest-bearing liabilities 988,715 8,124 3.29 % 985,984 7,773 3.15 % 1,022,236 10,020 3.92 %Noninterest-bearing liabilities:Noninterest-bearing deposits 283,626 292,421 305,124Other noninterest-bearing liabilities 11,184 7,920 10,377Total liabilities 1,283,525 1,286,325 1,337,737Total equity 239,876 236,633 226,001Total liabilities and equity $ 1,523,401 $ 1,522,958 $ 1,563,738Net interest income $ 13,186 $ 13,527 $ 12,409Interest rate spread (2) 2.63 % 2.79 % 2.19 %Net interest-earning assets (3) $ 450,305 $ 449,485 $ 447,244Net interest margin (4) 3.67 % 3.77 % 3.38 %Average interest-earning assets to interest-bearing liabilities 145.54 % 145.59 % 143.75 %(1) Interest earned/paid on loans includes $679,000, $659,000, and $796,000 in loan fee income for the three months ended September 30, 2025, June 30, 2025, and September 30, 2024, respectively.(2) Interestrate spread represents the difference between the weighted average yield on interest-bearing assets and the weighted average rate of interest-bearing liabilities.(3) Netinterest-earning assets represent total interest-earning assets less total interest-bearing liabilities.(4) Netinterest margin represents net interest income as a percentage ofaverage interest-earning assets.(5) Annualized. For the Nine Months Ended September 30, 2025 September 30, 2024 Interest Interest Average Earned/ Yield/ Average Earned/ Yield/(Dollars in thousands) Balance Paid Rate (5) Balance Paid Rate (5)Assets:Interest-earning assets:Loans (1) $ 1,296,782 $ 58,998 6.07 % $ 1,337,289 $ 61,637 6.15 %Short-term investments 104,179 3,481 4.46 % 101,539 3,979 5.22 %Debt securities available-for-sale 24,909 543 2.91 % 27,694 612 2.95 %Federal Home Loan Bank stock 2,423 168 9.24 % 2,379 108 6.05 %Total interest-earning assets 1,428,293 63,190 5.90 % 1,468,901 66,336 6.02 %Noninterest earning assets 88,020 99,161Total assets $ 1,516,313 $ 1,568,062Liabilities and shareholders' equity:Interest-bearing liabilities:Savings accounts $ 108,709 $ 682 0.84 % $ 204,892 $ 4,505 2.93 %Money market accounts 456,496 11,512 3.36 % 463,632 13,560 3.90 %NOW accounts 83,420 985 1.57 % 77,373 718 1.24 %Certificates of deposit 285,124 9,328 4.36 % 237,760 9,232 5.18 %Total interest-bearing deposits 933,749 22,507 3.21 % 983,657 28,015 3.80 %BorrowingsShort-term borrowings 33,971 1,007 3.95 % 32,242 1,375 5.69 %Long-term borrowings 9,214 88 1.27 % 9,642 98 1.36 %Total borrowings 43,185 1,095 3.38 % 41,884 1,473 4.69 %Total interest-bearing liabilities 976,934 23,602 3.22 % 1,025,541 29,488 3.83 %Noninterest-bearing liabilities:Noninterest-bearing deposits 293,472 305,849Other noninterest-bearing liabilities 9,138 10,977Total liabilities 1,279,544 1,342,367Total equity 236,769 225,695Total liabilities and equity $ 1,516,313 $ 1,568,062Net interest income $ 39,588 $ 36,848Interest rate spread (2) 2.68 % 2.19 %Net interest-earning assets (3) $ 451,359 $ 443,360Net interest margin (4) 3.70 % 3.34 %Average interest-earning assets to interest-bearing liabilities 146.20 % 143.23 %(1) Interest earned/paid on loans includes $2.1 million and $2.2 million in loan fee income for the nine months ended September 30, 2025 and September 30, 2024, respectively.(2) Interestrate spread represents the difference between the weighted average yield on interest-bearing assets and the weighted average rate of interest-bearing liabilities.(3) Netinterest-earning assets represent total interest-earning assets less total interest-bearing liabilities.(4) Netinterest margin represents net interest income as a percent of average interest-earning assets.(5) Annualized.Provident Bancorp, Inc.Select Financial Highlights(Unaudited) Three Months Ended Nine Months Ended September 30, June 30, September 30, September 30, 2025 2025 2024 2025 2024Performance Ratios:Return on average assets (1) 0.70 % 0.74 % 0.18 % 0.67 % 0.20 %Return on average equity (1) 4.45 % 4.77 % 1.27 % 4.32 % 1.41 %Interest rate spread (1) (2) 2.63 % 2.79 % 2.19 % 2.68 % 2.19 %Net interest margin (1) (3) 3.67 % 3.77 % 3.38 % 3.70 % 3.34 %Noninterest expense to average assets (1) 3.00 % 3.18 % 2.96 % 3.07 % 3.05 %Efficiency ratio (4) 77.55 % 76.73 % 82.00 % 78.10 % 86.65 %Average interest-earning assets to average interest-bearing liabilities 145.54 % 145.59 % 143.75 % 146.20 % 143.23 %Average equity to average assets 15.75 % 15.54 % 14.45 % 15.61 % 14.39 % At At At September 30, June 30, December 31,(Dollars in thousands) 2025 2025 2024Asset QualityNon-accrual loans:Commercial real estate $ 53 $ 54 $ 57Residential real estate 414 420 366Commercial 1,511 1,536 1,543Enterprise value 32,422 32,430 18,920Consumer – – 1Total non-accrual loans 34,400 34,440 20,887Total non-performing assets $ 34,400 $ 34,440 $ 20,887Asset Quality RatiosAllowance for credit losses for loans as a percent of total loans (5) 1.61 % 1.58 % 1.59 %Allowance for credit losses for loans as a percent of non-performing loans 59.34 % 60.38 % 100.96 %Non-performing loans as a percent of total loans (5) 2.71 % 2.62 % 1.57 %Non-performing loans as a percent of total assets 2.31 % 2.24 % 1.31 %Capital and Share RelatedShareholders' equity to total assets 16.16 % 15.40 % 14.50 %Book value per share $ 13.55 $ 13.35 $ 12.99Market value per share $ 12.53 $ 12.49 $ 11.40Shares outstanding 17,782,946 17,785,538 17,788,543(1) Annualized.(2) Interest rate spread represents the difference between the weighted average yield on average interest-earning assets and the weighted average cost of interest-bearing liabilities.(3) Netinterest margin represents net interest income as a percent of average interest-earning assets.(4) Theefficiency ratio represents noninterest expense divided by the sum of net interest income and noninterest income, excluding gains on securities available for sale, net (if applicable).(5) Loansare presented at amortized cost.

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