BankProv joins Mass Fintech Hub

Amesbury-based BankProv has recently joined Mass Fintech Hub together with seven other new members to support the advancement of financial technology in the state.

Personnel File – No. 335

Who’s on the move? From new VPs to fresh project managers, see who’s been hired, promoted and honored: It’s the latest issue of Banker & Tradesman’s Personnel File.

Community Good Works

Monson Savings Bank recently gave $2,500 to to Girls Inc. of the Valley, a nonprofit based in Holyoke that offers a “pro-girl environment based on mutual respect” to Pioneer Valley youth ages 5 to 18. See who else gave back.

BankProv Ended Third Quarter With $35M Loss

Amesbury-based BankProv had third quarter losses of more than $35 million and identified weaknesses in internal controls and procedures that affected one of its cryptocurrency-related loan portfolios, according to the bank’s third quarter report.

BankProv Not Exposed to FTX

Amesbury-based BankProv has more than $70 million in lines of credit secured by digital currencies but has no exposure to collapsed cryptocurrency exchange FTX, according to a recent securities disclosure.

BankProv Expands BaaS Reach

The $1.79 billion-asset Amesbury-based lender is finding opportunity with a type of financial service a growing number of banks are looking to offer to the fintech industry.