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On Tuesday, stockholders of Provident Bancorp, Inc. (NASDAQ:PVBC) approved proposals related to the company’s planned acquisition by NB Bancorp, Inc. The vote took place at a special meeting held for shareholders.
According to a press release statement and the company’s filing with the Securities and Exchange Commission, the primary proposal was to approve the Agreement and Plan of Merger, dated June 5, 2025. The agreement involves NB Bancorp , Needham Bank, 1828 MS, Inc., Provident Bancorp, and BankProv. As part of the transaction, 1828 MS, Inc. will merge with and into Provident Bancorp, with Provident Bancorp as the surviving entity.
Stockholders voted 11,985,629 shares in favor of the merger proposal, with 103,856 shares against and 2,153 abstentions. There were no broker non-votes recorded.
A second proposal, presented on an advisory (non-binding) basis, sought approval for specified compensation that may become payable to named executive officers of Provident Bancorp in connection with the merger. On this proposal, 7,305,003 shares were voted in favor, 4,397,758 against, and 388,877 abstained. No broker non-votes were recorded.
The company’s common stock is listed on the NASDAQ Stock Market under the symbol PVBC.
This information is based on a statement issued by the company in a press release and details included in its SEC filing. For deeper insights into PVBC’s financials and additional analysis, including 6 more exclusive ProTips and comprehensive metrics, visit InvestingPro.
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