NEEDHAM, Mass. and AMESBURY, Mass., Nov. 13, 2025 /PRNewswire/ -- As previously announced, NB Bancorp, Inc. (NASDAQ: NBBK) ("Needham") and Provident Bancorp, Inc. (NASDAQ: PVBC) ("Provident") entered into an Agreement and Plan of Merger, dated June 5, 2025 (the "Merger Agreement"), among Needham, Needham Bank, 1828 MS Inc., a wholly owned subsidiary of Needham formed solely to facilitate the transaction ("Merger Sub"), Provident and BankProv. Subject to the satisfaction of customary closing conditions, Needham and Provident anticipate that Needham's acquisition of Provident and Provident Bank pursuant to the Merger Agreement will be completed on November 15, 2025 at 12:01 a.m. (Eastern Time) (the "Effective Time"), when Merger Sub will merge with and into Provident (the "Merger"). Immediately following the Merger, Provident will merge with and into Needham, with Needham as the surviving entity (the "Holdco Merger"), and promptly following the Holdco Merger, BankProv will merge with and into Needham Bank, with Needham Bank as the surviving entity (the "Bank Merger" and, together with the Merger and the Holdco Merger, the "Merger Transaction").
