The Bank Slate


Provident in Mass. ends co-CEO management structure

Provident Bancorp in Amesbury, Mass., is back to having just one president and CEO.

The $1.7 billion-asset company disclosed in a regulatory filing that Carol Houle also stepped down as its chief financial officer.

Joseph Reilly is now Provident’s sole president and CEO.

Reilly was chairman in December 2022, when he was appointed with Houle to succeed David Mansfield. At that time, Provident was coming off a big third-quarter loss after disclosing that a majority of its loans backed by crypto mining equipment were impaired.

They were initially named to interim titles, which were upgraded a month later.

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