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Nutter Represents NB Bancorp, Inc. in Its Pending $212 Million Merger With Provident Bancorp, Inc.

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Nutter is serving as legal counsel to NB Bancorp, Inc. (Nasdaq: NBBK), the holding company for Needham Bank, in connection with its definitive merger agreement with Provident Bancorp, Inc. (Nasdaq: PVBC), the holding company for BankProv, in a transaction valued at approximately $212 million. The Nutter team was led by Michael Krebs, and included Erin Whitney Cicchetti, Dan Hartman, Kate Henry, Tim Rennie, Jinal Sharma, Francesca Considine, Michael Mooney, Tracy Vitols, and Ian Roffman.

The combined organization will operate 18 branches across Metrowest, Greater Boston, the North Shore in Massachusetts, and Southern New Hampshire. Total assets at transaction close are expected to be approximately $7.1 billion, with $5.9 billion in total deposits and $6.1 billion in total loans. The pro forma company is expected to be the sixth largest Massachusetts-based bank in the Boston MSA based on deposit market share. The merger is expected to be completed in the fourth quarter of 2025, subject to the satisfaction of various conditions. Read more about the transaction.

Nutter’s Banking and Financial Services attorneys serve as corporate and regulatory counsel to banks, savings institutions, and other financial institutions and address a wide range of banking clients’ needs, including new bank formations, mergers and acquisitions, holding company formations, conversions, interstate expansion, the introduction of new products and services, including securities, insurance and trust services, and electronic banking.

Nutter’s Corporate Department represents domestic and international corporations, publicly traded and privately-held companies, private equity firms, nonprofit institutions, and family-owned businesses in a wide variety of domestic and cross-border transactions. The firm’s attorneys advise on significant transactions in every major industry sector, including technology, life sciences, banking, professional services, real estate, energy, medical devices, health care, and manufacturing. Nutter’s corporate practice handles the full range of M&A and private equity transactions, including representing buyers and sellers in auctions processes, mergers, asset sales, stock purchases, leveraged buyouts, roll-ups, joint ventures, PIPEs, going private transactions, tender offers, and proxy contests.

About Nutter
Nutter is a Boston-based law firm that provides legal counsel to industry-leading companies, entrepreneurs, institutions, foundations, and families, across the country and around the world. The firm’s corporate, intellectual property, litigation, real estate and land use, labor and employment, tax, and trusts and estates practices are national in scope. The firm was co-founded in 1879 by former U.S. Supreme Court Justice Louis D. Brandeis, before his appointment to the Court. For more information, please visit www.nutter.com and follow the firm on LinkedIn.

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