Merger • Financial Services

Needham Bank Acquires BankProv

On June 5, 2025, Needham Bank acquired financial services company BankProv for 212M USD

Acquisition Context

This is Needham Bank’s 1st transaction in the Financial Services sector.
This is Needham Bank’s largest (disclosed) transaction.
This is Needham Bank’s 1st transaction in the United States.
This is Needham Bank’s 1st transaction in Massachusetts.

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M&A Deal Summary
Date	June 5, 2025
Target	BankProv
Sector	Financial Services
Buyer(s)	Needham Bank
Deal Type	Merger
Deal Value	212M USD
Advisor(s)	Piper Sandler & Co. (Financial)

Target Company

BankProv

Amesbury, Massachusetts, United States

BankProv is a full-service commercial bank headquartered in Massachusetts. With retail branches in the North Shore of Massachusetts and in southern New Hampshire, commercial banking offices in the Manchester/Concord market in Central New Hampshire and a loan office located in Ponte Vedra Beach, Florida, it delivers a unique combination of traditional banking services and innovative financial solutions to its markets. BankProv is based in Amesbury, Massachusetts.

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Buyer Overview 1

Buyer

Needham Bank

Needham, Massachusetts, United States

Category	Company
Sector	Financial Services
Revenue	173M USD (2024)

DESCRIPTION

Needham Bank offers financial services to individuals, businesses, and nonprofits to help them build for their futures. It offers an array of tech-forward products and services that businesses and consumers use to manage their financial needs. Needham Bank is based in Needham, Massachusetts.

Deal Context for Buyer	#
Overall	1 of 1
Sector: Financial Services	1 of 1
Type: Merger	1 of 1
State: Massachusetts	1 of 1
Country: United States	1 of 1
Year: 2025	1 of 1
Size (of disclosed)	1 of 1

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