Filing Details
- Accession Number:
- 0001171520-21-000058
- Form Type:
- 13G Filing
- Publication Date:
- 2021-02-10 11:14:38
- Filed By:
- Fj Capital Management Llc
- Company:
- Provident Bancorp Inc. (NASDAQ:PVBC)
- Filing Date:
- 2021-02-10
- SEC Url:
- 13G Filing
Please notice the below summary table is generated without human intervention and may contain errors. Please refer to the complete filing displayed below for exact figures.
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Financial Opportunity Fund | 0 | 0 | 0 | 0 % | ||
| Financial Hybrid Opportunity Fund | 0 | 0 | 0 | 0% | ||
| Financial Hybrid Opportunity SPV I | 0 | 0 | 0 | 0% | ||
| Financial Opportunity Long Short Fund | 0 | 0 | 0 | 0% | ||
| FJ Capital Management | 0 | 0 | 0 | 0% | ||
| Martin Friedman | 0 | 0 | 0 | 0% |
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
(Amendment No. 2) *
| Provident Bancorp, Inc. (PVBC) |
| (Name of Issuer) |
| Common Stock |
| (Title of Class of Securities) |
| 74383X109 |
| (CUSIP Number) |
| 12/31/2020 |
| (Date of Event Which Requires Filing of this Statement) |
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
| o | Rule 13d-1(b) | |
| ☑ | Rule 13d-1(c) | |
| o | Rule 13d-1(d) |
* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
| CUSIP No. | 74383X109 | Page 2 of 12 |
|
1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
| Financial Opportunity Fund LLC
| ||
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) ☑ (b) ☐ | ||
|
3 |
SEC USE ONLY
| |||
|
4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware | ||
| NUMBER OF SHARES | 5 | SOLE VOTING POWER | ||
| BENEFICIALLY OWNED BY | 6 | SHARED VOTING POWER | 0 | |
| EACH REPORTING | 7 | SOLE DISPOSITIVE POWER | ||
| PERSON WITH | 8 | SHARED DISPOSITIVE POWER | 0 | |
|
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 0 | ||
|
10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
| ☐ | ||
|
11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 0 % | ||
|
12 |
TYPE OF REPORTING PERSON
| OO | ||
| CUSIP No. | 74383X109 | Page 3 of 12 |
|
1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
| Financial Hybrid Opportunity Fund LLC
| ||
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) ☑ (b) ☐ | ||
|
3 |
SEC USE ONLY
| |||
|
4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware | ||
| NUMBER OF SHARES | 5 | SOLE VOTING POWER | ||
| BENEFICIALLY OWNED BY | 6 | SHARED VOTING POWER | 0 | |
| EACH REPORTING | 7 | SOLE DISPOSITIVE POWER | ||
| PERSON WITH | 8 | SHARED DISPOSITIVE POWER | 0 | |
|
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 0 | ||
|
10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
| ☐ | ||
|
11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 0% | ||
|
12 |
TYPE OF REPORTING PERSON
| OO | ||
| CUSIP No. | 74383X109 | Page 4 of 12 |
|
1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
| Financial Hybrid Opportunity SPV I LLC
| ||
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) ☑ (b) ☐ | ||
|
3 |
SEC USE ONLY
| |||
|
4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware | ||
| NUMBER OF SHARES | 5 | SOLE VOTING POWER | ||
| BENEFICIALLY OWNED BY | 6 | SHARED VOTING POWER | 0 | |
| EACH REPORTING | 7 | SOLE DISPOSITIVE POWER | ||
| PERSON WITH | 8 | SHARED DISPOSITIVE POWER | 0 | |
|
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 0 | ||
|
10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
| ☐ | ||
|
11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 0% | ||
|
12 |
TYPE OF REPORTING PERSON
| OO | ||
| CUSIP No. | 74383X109 | Page 5 of 12 |
|
1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
| Financial Opportunity Long/Short Fund LLC
| ||
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) ☑ (b) ☐ | ||
|
3 |
SEC USE ONLY
| |||
|
4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
| Delaware | ||
| NUMBER OF SHARES | 5 | SOLE VOTING POWER | ||
| BENEFICIALLY OWNED BY | 6 | SHARED VOTING POWER | 0 | |
| EACH REPORTING | 7 | SOLE DISPOSITIVE POWER | ||
| PERSON WITH | 8 | SHARED DISPOSITIVE POWER | 0 | |
|
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 0 | ||
|
10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
| ☐ | ||
|
11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 0% | ||
|
12 |
TYPE OF REPORTING PERSON
| OO | ||
| CUSIP No. | 74383X109 | Page 6 of 12 |
|
1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
| FJ Capital Management LLC
| ||
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) ☑ (b) ☐ | ||
|
3 |
SEC USE ONLY
| |||
|
4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
| United States | ||
| NUMBER OF SHARES | 5 | SOLE VOTING POWER | ||
| BENEFICIALLY OWNED BY | 6 | SHARED VOTING POWER | 0 | |
| EACH REPORTING | 7 | SOLE DISPOSITIVE POWER | ||
| PERSON WITH | 8 | SHARED DISPOSITIVE POWER | 0 | |
|
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 0 | ||
|
10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
| ☐ | ||
|
11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 0% | ||
|
12 |
TYPE OF REPORTING PERSON
| IA | ||
| CUSIP No. | 74383X109 | Page 7 of 12 |
|
1 |
NAME OF REPORTING PERSONS I.R.S. IDENTIFICATION NO. OF ABOVE PERSONS (ENTITIES ONLY)
| Martin Friedman
| ||
|
2 |
CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
| (a) ☑ (b) ☐ | ||
|
3 |
SEC USE ONLY
| |||
|
4 |
CITIZENSHIP OR PLACE OF ORGANIZATION
| United States | ||
| NUMBER OF SHARES | 5 | SOLE VOTING POWER | ||
| BENEFICIALLY OWNED BY | 6 | SHARED VOTING POWER | 0 | |
| EACH REPORTING | 7 | SOLE DISPOSITIVE POWER | ||
| PERSON WITH | 8 | SHARED DISPOSITIVE POWER | 0 | |
|
9 |
AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
| 0 | ||
|
10 |
CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES
| ☐ | ||
|
11 |
PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
| 0% | ||
|
12 |
TYPE OF REPORTING PERSON
| IN | ||
| CUSIP No. | 74383X109 | Page 8 of 12 |
| Item 1(a). | Name of Issuer: | |
| Provident Bancorp, Inc | ||
| Item 1(b). | Address of Issuer’s Principal Executive Offices: | |
| 5 Market Street Amesbury, MA 01913 | ||
| Item 2(a). | Name of Person Filing: | |
| FJ Capital Management, LLC | ||
| Item 2(b). | Address of Principal Business Office or, if None, Residence: | |
| Financial Opportunity Fund LLC 1313 Dolley Madison Blvd., Ste 306 McLean, VA 22101
Financial Opportunity Long/Short Fund LLC 1313 Dolley Madison Blvd., Ste 306 McLean, VA 22101
Financial Hybrid Opportunity Fund LLC 1313 Dolley Madison Blvd, Ste 306 McLean, VA 22101
Financial Hybrid Opportunity SPV I LLC 1313 Dolley Madison Blvd, Ste 306 McLean, VA 22101
FJ Capital Management, LLC 1313 Dolley Madison Blvd, Ste 306 McLean, VA 22101
Martin S. Friedman 1313 Dolley Madison Blvd., Ste 306 McLean, VA 22101 | ||
| Item 2(c). | Citizenship: | |
| Financial Opportunity Fund LLC, Financial Opportunity Long/Short Fund LLC, Financial Hybrid Opportunity Fund LLC, Financial Hybrid Opportunity SPV I LLC and FJ Capital Management LLC – Delaware limited liability companies Martin S. Friedman – United States citizen | ||
| Item 2(d). | Title of Class of Securities: | |
| Common Stock |
| CUSIP No. | 74383X109 | Page 9 of 12 |
| Item 2(e). | CUSIP Number: |
| 74383X109 |
| Item 3. | If This Statement is Filed Pursuant to §§240.13d-1(b), or 240.13d-2(b) or (c), Check Whether the Person Filing is a: |
| (a) | o | Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o). | |
| (b) | o | Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c). | |
| (c) | o | Insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c). | |
| (d) | o | Investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8). | |
| (e) | o | An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E); | |
| (f) | o | An employee benefit plan or endowment fund in accordance with §240.13d-1(b)(1)(ii)(F); | |
| (g) | o | A parent holding company or control person in accordance with §240.13d-1(b)(ii)(G); | |
| (h) | o | A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813); | |
| (i) | o | A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act (15 U.S.C. 80a-3); | |
| (j) | o | Group, in accordance with §240.13d-1(b)(1)(ii)(J). |
| Item 4. | Ownership. |
| Ownership information is provided as of: |
| (a) | Amount beneficially owned: | ||
| Financial Opportunity Fund LLC – 0 shares Financial Opportunity Long/Short Fund LLC – 0 shares Financial Hybrid Opportunity Fund LLC – 0 shares Financial Hybrid Opportunity SPV I LLC – 0 shares FJ Capital Management LLC – 0 shares Martin Friedman – 0 shares | |||
| (b) | Percent of class: | ||
| Financial Opportunity Fund LLC – 0% Financial Opportunity Long/Short Fund LLC – 0% Financial Hybrid Opportunity Fund LLC – 0% Financial Hybrid Opportunity SPV I LLC – 0% FJ Capital Management LLC – 0% Martin Friedman – 0% | |||
| CUSIP No. | 74383X109 | Page 10 of 12 |
| (c) | Number of shares as to which such person has: | |||
| (i) | Sole power to vote or to direct the vote | |||
| All Reporting Persons – 0 | ||||
| (ii) | Shared power to vote or to direct the vote | |||
| Financial Opportunity Fund LLC – 0 shares Financial Opportunity Long/Short Fund LLC – 0 shares Financial Hybrid Opportunity Fund LLC – 0 shares Financial Hybrid Opportunity SPV I LLC – 0 shares FJ Capital Management LLC – 0 shares Martin Friedman – 0 shares | ||||
| (iii) | Sole power to dispose or to direct the disposition of | |||
| All Reporting Persons – 0 | ||||
| (iv) | Shared power to dispose or to direct the disposition of | |||
| Financial Opportunity Fund LLC – 0 shares Financial Opportunity Long/Short Fund LLC – 0 shares Financial Hybrid Opportunity Fund LLC – 0 shares Financial Hybrid Opportunity SPV I LLC – 0 shares FJ Capital Management LLC – 0 shares Martin Friedman – 0 shares | ||||
| Item 5. | Ownership of Five Percent or Less of a Class. |
| If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following ☑. | |
| Item 6. | Ownership of More than Five Percent on Behalf of Another Person. |
| If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. | |
| Item 7. | Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person. |
| If a parent holding company or control person has filed this schedule, pursuant to Rule 13d-1(b)(1)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company or control person has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary | |
| CUSIP No. | 74383X109 | Page 11 of 12 |
| Item 8. | Identification and Classification of Members of the Group. |
| If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identity of each member of the group. | |
| Item 9. | Notice of Dissolution of Group. |
| Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. | |
| Item 10. | Certification. |
| By signing below, I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect. |
| CUSIP No. | 74383X109 | Page 12 of 12 |
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
| Date: 2/02/2021 | Financial Opportunity Fund LLC By: FJ Capital Management LLC, its Managing Member
By: /s/ Martin Friedman Name: Martin Friedman Title: Managing Member
Financial Opportunity long/short Fund LLC By: FJ Capital Management LLC, its Managing Member
By: /s/ Martin Friedman Name: Martin Friedman Title: Managing Member
FINANCIAL HYBRID OPPORTUNITY FUND LLC By: FJ Capital Management LLC, its Managing Member
By: /s/ Martin Friedman Name: Martin Friedman Title: Managing Member
FINANCIAL HYBRID OPPORTUNITY SPV I LLC By: FJ Capital Management LLC, its Managing Member
By: /s/ Martin Friedman Name: Martin Friedman Title: Managing Member
FJ Capital Management LLC
By: /s/ Martin Friedman Name: Martin Friedman Title: Managing Member
/s/ Martin Friedman MARTIN S. FRIEDMAN |
Attention: Intentional misstatements or omissions of fact constitute Federal criminal violations (See 18 U.S.C, 1001)