October 23, 2019

On October 16, 2019, Provident Bancorp, Inc., Amesbury, Massachusetts, the holding company of The Provident Bank, completed its conversion from the mutual holding company to the stock holding company form of organization and related stock offering, whereby Provident Bancorp sold $102.1 million of common stock at $10.00 per share.

Luse Gorman served as legal counsel to Provident Bancorp in the conversion and offering. The Luse Gorman team included Lawrence M.F. Spaccasi, Ned Quint, Thomas P. Hutton and Ellie Cook.

Provident Bancorp has $1.1 billion in total assets and operates from offices in Massachusetts and New Hampshire.