Oakmont Partners adds PROVIDENT BANCORP INC (PVBC) to its portfolio

PROVIDENT BANCORP INC (PVBC) : Oakmont Partners added new position in PROVIDENT BANCORP INC during the most recent quarter end. The investment management firm now holds 11,300 shares of PROVIDENT BANCORP INC which is valued at $181,365 , the company said in a statement filed on Oct 11, 2016 with the SEC.PROVIDENT BANCORP INC makes up approximately 0.12% of Oakmont Partners’s portfolio.

Other Hedge Funds, Including , Bnp Paribas Arbitrage Sa boosted its stake in PVBC in the latest quarter, The investment management firm added 126 additional shares and now holds a total of 300 shares of PROVIDENT BANCORP INC which is valued at $4,716. Washington Trust Bank added PVBC to its portfolio by purchasing 49 company shares during the most recent quarter which is valued at $770.

Provident Bancorp Inc. is the holding company of The Provident Bank (The Bank). The Provident Bank is a Massachusetts-chartered stock savings bank. The Company operates from its main office and approximately two branch offices in the Northeastern Massachusetts area and approximately four branch offices in Southeastern New Hampshire as well as approximately two loan production offices located in Bedford New Hampshire and Nashua New Hampshire. The Bank’s loan portfolio consists of commercial real estate loans multi-family residential real estate loans commercial business loans construction and land development loans one- to four-family residential loans home equity loans and lines of credit and consumer loans. At March 31 2015 net loans were approximately $493.5 million or 74.5% of total assets. As of December 31 2014 multi-family real estate loans were approximately $26.2 million or 5.2% of the Bank’s total loan portfolio.

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