PORTSMOUTH, N.H., Jan. 26,
2024 /PRNewswire/ -- Provident Bancorp, Inc. (NASDAQ:
PVBC) is pleased to announce the appointment of Dennis Pollack to its Board of Directors as well
as to the Board of Directors of its operating subsidiary, BankProv,
a future-ready commercial bank that offers technology-driven
banking solutions to its clients. Mr. Pollack brings a wealth of
experience to the role, having served in various executive
positions, including most recently as President and CEO of
Prudential Bank in Philadelphia,
PA.
"We are thrilled to welcome Dennis
Pollack to the boards of Provident and BankProv. With
decades of banking experience and a deep understanding of the
market, Dennis is well-equipped to work with senior management to
help guide our strategic vision in alignment with the interests of
our shareholders" expressed Joe
Reilly, Co-CEO of Provident Bancorp, Inc. and BankProv.
Dennis Pollack's extensive
background includes executive roles at Sony Corporation of America,
the Connecticut Bank of Commerce, the Savings Bank of Rockland
County, and Paulson & Company. He has previously served on the
boards of several depository institutions and has been recognized
for his contributions to the banking industry, with published
articles in Bottomline Magazine and The Bankers Magazine.
Mr. Pollack holds a B.S. in Economics from Seton Hall University, an M.B.A. from Columbia Business School, and a post-M.B.A. Diploma
in Bank Lending from New York
University.
About BankProv
BankProv is a subsidiary of Provident Bancorp, Inc. (NASDAQ:
PVBC). BankProv is a future-ready commercial bank that offers a
comprehensive suite of banking products for corporate clients. As a
premier Banking-as-a-Service (BaaS) provider specializing in
technology-driven banking solutions to niche markets, the Bank
seeks to build financially strong and vibrant communities by
investing in the success of their clients through understanding and
solving their unique business needs. BankProv is a trusted advisor
and partner to a wide range of niche, technology-driven industries
including renewable energy, fintech and enterprise value lending.
Headquartered in Amesbury,
Massachusetts, BankProv is the 10th oldest bank
in the nation. The Bank insures 100% of deposits through a
combination of insurance provided by the Federal Deposit Insurance
Corporation (FDIC) and the Depositors Insurance Fund (DIF). To
learn more about the organization, visit bankprov.com.
Forward-Looking Statements
This news release may contain certain forward-looking
statements, such as statements of the Company's or the Bank's
plans, objectives, expectations, estimates and intentions.
Forward-looking statements may be identified by the use of words
such as, "expects," "subject," "believe," "will," "intends," "may,"
"will be" or "would." These statements are subject to change based
on various important factors (some of which are beyond the
Company's or the Bank's control) and actual results may differ
materially. Accordingly, readers should not place undue reliance on
any forward-looking statements (which reflect management's analysis
of factors only as of the date on which they are given). Readers
should carefully review the risk factors described in other
documents that the Company files from time to time with the
Securities and Exchange Commission, including Annual and Quarterly
Reports on Forms 10-K and 10-Q, and Current Reports on Form
8-K.
Press Contact: Kathleen Barrett, VP, Director of
Marketing
Phone: 603-334-1251
Email: kbarrett@bankprov.com
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SOURCE Provident Bancorp, Inc.