Needham Bank Set to Acquire BankProv in $211.8 Million Deal

Needham Bank set to acquire BankProv in $211.8 million deal

Needham Bank agrees to acquire BankProv to expand market reach

NB Bancorp, the holding company for Needham Bank, has signed agreement to acquire Provident Bancorp, the holding company for BankProv, in a strategic stock and cash transaction. The merger will see BankProv integrate with Needham Bank, allowing Needham to expand its market presence in Massachusetts and Southern New Hampshire. Under the agreement, stockholders of Provident will receive either 0.691 shares of Needham common stock or $13.00 in cash…

Needham Bank to Acquire BankProv for $211M

Needham Bank will acquire Amesbury-based BankProv, representing its first foray outside of Massachusetts' borders.