M&A · Financials · Savings Institutions, Not Federally Chartered
NB Bancorp, Inc. to acquire Provident Bancorp, Inc.
Announced Jun 5, 2025 · Closed Nov 17, 2025
Deal value$212M
Premium—To unaffected price
EV / Adj. EBITDA—
ConsiderationCash and stock$11.51 per share
Transaction
- Acquirer
- NB Bancorp, Inc. (NBBK)
- Target
- Provident Bancorp, Inc. (PVBC)
- Buyer type
- Strategic
- Offer price per share
- $11.51
- Enterprise value
- —
- Status
- Closed Nov 17, 2025
Deal protections
- Break fee (target pays)
- $8.5M · 4.0%
- Reverse fee (buyer pays)
- —
- Go-shop
- No-shop
- Financing
- —
Advisors
- To the acquirer
- Stifel
- To the target
- Piper Sandler
Sector context · Financials
- Comparable deals
- 58 in the prior 24 months
- Premium
- Sector median 34.0%
- EV / Adj. EBITDA
- Sector median 11.7x
- Break fee
- 4.0% vs. 3.7% sector median
Timeline
- AnnouncedJun 5, 2025
- Proxy filedAug 7, 2025
- Definitive proxyAug 7, 2025
- Shareholder voteSep 16, 2025
- ClosedNov 14, 2025
Valuation · fairness opinions
Precedent transactions$4.59$7.91
Precedent transactions$6.26$11.66
Precedent transactions$11.50$27.25
Precedent transactions$13.14$28.11
Offer $11.51
Implied value per Provident Bancorp, Inc. share by analysis, from Piper Sandler · DCF discount rate 10%–14%.