Provident bancorp, inc. (PVBC)
Income statement / Quarterly
Jun'19Mar'19Dec'18Sep'18Jun'18Mar'18Dec'17Sep'17Jun'17Mar'17Dec'16Sep'16Jun'16Mar'16Dec'15Sep'15Jun'15Mar'15Dec'14Sep'14Jun'14Mar'14
Interest and dividend income:
Interest and fees on loans

12,270

11,699

10,938

10,219

9,925

9,276

8,963

8,403

7,911

7,233

6,688

6,611

6,159

6,091

5,830

5,634

5,417

5,243

5,260

5,051

4,895

4,678

Interest and dividends on securities

420

404

413

411

410

435

575

822

902

873

763

807

861

881

838

798

825

829

804

827

854

891

Interest on short-term investments

41

26

26

203

42

42

77

14

3

6

11

8

6

8

11

16

10

1

1

1

2

2

Total interest and dividend income

12,731

12,129

11,377

10,833

10,377

9,753

9,615

9,239

8,816

8,112

7,462

7,426

7,026

6,980

6,679

6,448

6,252

6,073

6,065

5,879

5,751

5,571

Interest expense:
Interest on deposits

1,531

1,437

1,314

1,225

1,009

920

913

783

678

570

540

539

529

555

403

410

411

406

417

437

436

434

Interest on borrowings

599

534

-

-

204

114

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Interest on Federal Home Loan Bank advances

-

-

-

204

-

-

-

222

201

211

154

174

152

142

107

157

139

141

140

141

144

142

Total interest expense

2,130

1,971

1,537

1,429

1,213

1,034

1,061

1,005

879

781

694

713

681

697

510

567

550

547

557

578

580

576

Net interest and dividend income

10,601

10,158

9,840

9,404

9,164

8,719

8,554

8,234

7,937

7,331

6,768

6,713

6,345

6,283

6,169

5,881

5,702

5,526

5,508

5,301

5,171

4,995

Provision for loan losses

1,354

1,462

614

1,421

638

656

462

1,012

892

563

219

163

210

111

160

174

193

278

531

187

345

389

Net interest and dividend income after provision for loan losses

9,247

8,696

9,226

7,983

8,526

8,063

8,092

7,222

7,045

6,768

6,549

6,550

6,135

6,172

6,009

5,707

5,509

5,248

4,977

5,114

4,826

4,606

Noninterest income:
Gain on sale of securities, net

0

113

-

-

-

-

-

1,851

58

-

-

-

-

-

-

-

-

-

-

-

-

-

Customer service fees on deposit accounts

-

-

-

-

-

-

-

-

-

338

338

339

292

305

260

343

290

329

1,305

40

43

38

Service charges and fees - other

-

-

-

-

-

-

-

-

-

502

484

427

448

418

465

468

440

381

480

460

459

412

Gain on sale of securities, net

-

-

-

-

-

-

-

-

-

482

215

438

17

20

0

215

21

81

4

1

327

96

Bank owned life insurance income

173

177

171

172

172

171

178

167

150

150

-

147

-

-

-

-

-

-

-

-

-

-

Other income

21

15

21

5

13

25

11

11

35

30

-322

12

210

192

238

134

108

33

-834

418

339

325

Total noninterest income

1,056

1,046

988

1,059

1,118

1,013

4,486

2,897

1,070

1,502

1,170

1,363

967

935

963

1,160

859

824

956

918

1,168

871

Noninterest expense:
Salaries and employee benefits

4,274

4,294

4,218

4,150

4,269

4,164

4,010

3,948

3,731

3,676

3,357

3,219

3,159

3,122

3,116

3,016

2,796

2,869

3,087

2,663

2,470

2,545

Occupancy expense

550

644

410

456

417

450

-

411

450

-

-

-

-

-

-

-

-

-

-

-

-

-

Occupancy expense

-

-

-

-

-

-

-

-

-

471

354

412

417

365

365

383

394

393

307

336

336

329

Equipment expense

109

106

110

118

121

122

131

149

157

150

160

162

164

145

128

132

135

133

159

122

157

179

FDIC assessment

-

-

-

75

-

-

93

75

73

68

30

103

96

94

95

93

96

94

105

86

84

86

Data processing

150

203

213

200

193

204

198

177

176

190

171

163

165

163

153

142

134

139

118

146

123

125

Marketing expense

69

55

77

54

61

53

69

81

100

50

71

70

51

57

-17

18

69

57

-53

8

60

62

Professional fees

496

422

372

274

329

248

280

227

215

214

211

299

313

265

280

217

228

217

142

151

165

153

Directors' compensation

188

181

153

141

163

163

174

133

155

145

-

81

-

-

-

-

-

-

-

-

-

-

Charitable Foundation expense

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

2,150

-

-

-

-

-

-

Other

1,047

841

625

755

858

972

877

713

818

657

637

703

715

713

757

720

827

764

659

713

1,045

753

Total noninterest expense

6,883

6,746

6,404

6,223

6,411

6,376

6,339

5,914

5,875

5,621

5,261

5,212

5,080

4,924

4,877

6,871

4,679

4,666

4,524

4,225

4,440

4,232

Income before income tax expense

3,420

2,996

3,810

2,819

3,233

2,700

6,239

4,205

2,240

2,649

2,458

2,701

2,022

2,183

2,095

-4

1,689

1,406

1,409

1,807

1,554

1,245

Income tax expense

889

778

975

741

843

678

4,498

1,434

639

847

730

940

659

696

643

-134

460

394

395

556

180

322

Net income

2,531

2,218

2,835

2,078

2,390

2,022

1,741

2,771

1,601

1,802

1,728

1,761

1,363

1,487

1,452

130

1,229

1,012

1,014

1,251

1,374

923

Net income attributable to common shareholders

-

-

-

-

-

-

-

-

-

-

-

-

-

-

1,413

86

1,189

968

-

-

1,374

879

Earnings per share:
Basic (in dollars per share)

0.27

0.24

0.31

0.22

0.26

0.22

0.19

0.30

0.17

0.20

0.19

0.19

0.15

0.16

-

-

0.00

-

-

0.00

-

-

Diluted (in dollars per share)

0.27

0.24

0.30

0.22

0.26

0.22

0.19

0.30

0.17

0.20

0.19

0.19

0.15

0.16

-

-

0.00

-

-

0.00

-

-

Weighted Average Shares:
Basic (in shares)

9,280

9,267

9,259

9,247

9,233

9,219

9,209

9,201

9,193

9,192

9,185

9,179

9,173

9,167

-

-

0

-

-

0

-

-

Diluted (in shares)

9,348

9,305

9,272

9,355

9,302

9,295

9,195

9,213

9,198

9,192

9,185

9,179

9,173

9,167

-

-

0

-

-

0

-

-

Customer service fees on deposit accounts
Total noninterest income

356

329

-

-

339

362

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

Service charges and fees - other
Total noninterest income

506

412

-

-

594

455

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-

-