Most of BankProv’s Crypto Mining Loan Portfolio Could Be Impaired
BankProv’s third quarter losses could exceed $27 million, and a majority of a cryptocurrency-related loan portfolio could be impaired, the bank said yesterday in a securities filing.
BankProv Suffers Likely Loss from $28M Loan Failure
Amesbury-based BankProv announced Tuesday that a soured $28 million loan to a bitcoin mining company will create a hit to its third-quarter earnings.
BankProv Saw Loan Growth and Risks With Digital Assets
Digital asset lending helped drive second quarter loan growth at Amesbury-based BankProv, but concerns about risk led the bank to close a couple of deposit accounts for digital asset customers.
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.
Personnel File – No.291
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
BankProv Sees Digital Asset Deposits Increase
Amesbury-based BankProv saw deposit relationships with digital asset customers increase by 80 percent in the first quarter, and the bank’s year-over-year earnings increased by 28 percent.
BankProv Partners with Synctera on Debit Cards for Crypto Firms
Amesbury-based BankProv has partnered with financial technology company Synctera to give fintech developers in the cryptocurrency market a debit card program.
BankProv Sees Profits from Move into Crypto
After launching a cryptocurrency lending platform in 2021, Amesbury-based BankProv saw its digital asset lending portfolio grow to $120 million and earnings increase 34 percent.
Personnel File – No. 271
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Personnel File – No. 270
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
BankProv Launches Crypto Lending Platform
Amesbury-based BankProv has partnered with a cryptocurrency technology firm to provide equipment financing for Bitcoin miners.
Tech-Focused CEO Finds Niche with Cryptocurrency
Under CEO Dave Mansfield, Amesbury-based bank has expanded regionally and nationally with specialty products, including those focused on alternative energy, and now cryptocurrency.
Return of User Fees Boosts Earnings at BankProv
While Amesbury-based The Provident Bank saw second quarter income decline slightly compared to last year, specialty lending and income from customers operating Bitcoin machines helped boost profits.
Personnel File
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Local Banks Plan Stock Repurchases
The parent company of The Provident Bank, rebranded last year as BankProv, has adopted a new stock repurchase program, one of several local banks planning to repurchase shares this year.
Personnel File
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Personnel File
From new VPs to fresh project managers, see who’s been hired, promoted and honored: it’s The Personnel File.
Professional Bank Opens New England Office
The former director of BankProv’s Search Fund Lending Center will lead a new loan production office for Florida-based Professional Bank.
Provident Bank Sees Earnings Increase
The Provident Bank saw earnings increase in the second quarter despite modifying more than 20 percent of its loans due to the coronavirus pandemic.
The Provident Bank Rebrands as it Plans Growth
Amesbury-based The Provident Bank is rebranding itself as “BankProv” as it plans to grow its nationwide presence.
