Provident Bancorp reports Q4 EPS 29c vs. 18c last year

In announcing these results, Joseph Reilly, CEO, said, “We are pleased to report net income of $4.9 million for the fourth quarter of 2024. These earnings reflect the success we have seen in the execution of our strategic plan, which is focused on repositioning our balance sheet to reduce risk as well as strengthening our ties with, and providing financing to, the communities we serve. We believe these efforts have resulted in a more efficient operation with improved asset quality and liquidity, and we are confident our proactive management of funding costs and operating expenses will set the foundation for a strong 2025.”