Julienne Cassarino Joins Provident Bancorp, Inc. Board




AMESBURY, Mass., Feb. 16, 2024 — Provident Bancorp, Inc. (NASDAQ: PVBC), a leading Banking-as-a-Service (BaaS) provider and commercial bank, is proud to welcome Julienne Cassarino to its Board of Directors. She will also serve as a member of the Board of Directors of BankProv, the future-ready commercial bank subsidiary of Provident Bancorp.

With a professional background in bank analysis and investment, spanning two decades, Ms. Cassarino brings a rich combination of knowledge and expertise to the board. She is the founder of Sycamore Analytics LLC, a company specializing in in-depth bank analysis and investment advice for private bank investors. Additionally, as co-creator of VirtualBankConference.com, an innovative online platform that aims to connect community banks and limited Wall Street covered investors, she has shown her dedication to the banking industry.

BankProv President and CEO, Joe Reilly, expressed excitement at Ms. Cassarino’s appointment, highlighting her extensive experience and strategic insights as valuable additions to the governance of Provident Bancorp.

Ms. Cassarino holds an MBA in Finance from the Wharton School, University of Pennsylvania, an MSc in Economics from the London School of Economics, and a BA in Economics from Trinity College. She is also a Certified Financial Analyst and an active member of the Hartford Society of Financial Analysts. Additionally, being passionate about community service, she volunteers for professional women’s empowerment organizations and contributes to the Girl Scouts of Connecticut.

Provident Bancorp, Inc. eagerly looks forward to benefiting from Ms. Cassarino’s valuable contributions as she takes her position as a member of the Board of Directors.

About BankProv

BankProv, a subsidiary of Provident Bancorp, Inc., is a future-ready commercial bank that provides a comprehensive suite of banking products for corporate clients. As a specialist in technology-driven banking solutions for niche markets, BankProv aims to build vibrant communities and invest in the success of its clients.

It is the 10th oldest bank in the United States and insures 100% of deposits through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF).

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. 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.

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