Katie Chase Joins BankProv and Provident Bancorp’s Board of Directors

Provident Bancorp, Inc. (NASDAQ: PVBC), the holding company for BankProv (legally operating as The Provident Bank), announced today Katie Chase, Chief Operating Officer of Coin Metrics, was appointed to the Board of Directors of both Provident Bancorp, Inc. and BankProv on January 27, 2022.

Chase joins the Board from her current role at Coin Metrics, where her contributions and vast industry knowledge helped to establish Coin Metrics as the leading provider of cryptoasset data and intelligence.

“As the Bank continues to gain momentum with new lines of business in digital asset markets, our entire team is looking forward to working with Katie, whose impressive background will add deep expertise to our Board, within both the banking and digital currency industries,” said Dave Mansfield, CEO of BankProv. “We’re fortunate to have Katie join and are excited for the value she’ll bring to our Board.”

“Dave and his team have demonstrated great vision in their forward-thinking approach to delivering banking solutions for innovative and underserved industries,” said Katie Chase. “The team’s embrace of new and emerging technologies sets BankProv apart in the industry. I’m excited to be part of the Bank’s future and support them in their efforts to build bridges between crypto and traditional markets.”

Chase brings 25 years of experience in the financial industry to BankProv’s Board of Directors having, most recently, worked at Fidelity Investments for over a decade prior to joining Coin Metrics. Throughout her career, Chase has advised clients and organizations on their growth and enterprise strategies. Her experience spans a wide breadth of disciplines including strategy, product, marketing, and R&D. At Coin Metrics, she is helping build the market infrastructure for cryptoassets through her contributions to the creation of transparent and accessible data and intelligence.

Chase holds an MBA from MIT Sloan School of Management and a Bachelor of Science in Industrial Engineering from Lehigh University.



About Provident Bancorp, Inc.:

BankProv, legally operating as The Provident Bank, is a subsidiary of Provident Bancorp, Inc. (NASDAQ: PVBC). BankProv is a future-ready commercial bank for corporate clients, specializing in offering adaptive and technology-first banking solutions to niche markets, including cryptocurrency, renewable energy, fin-tech, and search fund lending. We are committed to offering state-of-the-art APIs (application programming interfaces) for all business clients and BaaS (Bank as a Service) partners. Through our offerings, BankProv insures 100% of deposits through a combination of insurance provided by the Federal Deposit Insurance Corporation (FDIC) and the Depositors Insurance Fund (DIF). For more information about BankProv please visit our website bankprov.com or call 877-487-2977.

Forward-Looking Statements

Certain statements contained herein constitute “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934 and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by words such as “may,” “will,” “would,” “intend,” “believe,” “expect,” “plan,” “estimate,” “anticipate,” “continue,” or similar terms or variations on those terms, or the negative of those terms. These statements are based upon the current beliefs and expectations of Company management and are subject to significant risks and uncertainties. Actual results may differ materially from those set forth in the forward-looking statements as a result of numerous factors. Factors that could cause such differences to exist include, but are not limited to: the effects of any pandemic disease, natural disaster, war, act of terrorism, accident, or similar action or event; those related to the real estate and economic environment, particularly in the market areas in which the Company operates; fiscal and monetary policies of the U.S. Government; changes in government regulations affecting financial institutions, including regulatory compliance costs and capital requirements; fluctuations in the adequacy of loan loss reserves; decreases in deposit levels necessitating increased borrowing to fund loans and investments; operational risks including, but not limited to, cybersecurity, fraud and natural disasters; the risk that the Company may not be successful in the implementation of its business strategy; changes in prevailing interest rates; credit risk management; asset-liability management; and other risks described in the Company’s filings with the Securities and Exchange Commission, which are available at the SEC’s website, www.sec.gov.

The Company wishes to caution readers not to place undue reliance on any such forward looking statements, which speak only as of the date made. The Company wishes to advise readers that the factors listed above or other factors could affect the Company’s financial performance and could cause the Company’s actual results for future periods to differ materially from any opinions or statements expressed with respect to future periods in any current statements. The Company does not undertake and specifically disclaims any obligation to publicly release the results of any revisions, which may be made to any forward-looking statements to reflect events or circumstances after the date of such statements or to reflect the occurrence of anticipated or unanticipated events.

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