Providence Bank

What Providence Bank does

Providence Bank is a state-chartered community bank headquartered in Rocky Mount, North Carolina, founded in 2006 and operating as the wholly-owned banking subsidiary of PB Financial Corporation (OTCQX: PBNC). The bank provides a full suite of personal and small business banking products — checking, savings, lending, credit cards, Zelle, online and mobile banking, mobile deposit, bill pay, and digital cash management — supported by a 10-branch network plus a loan production office spanning eastern North Carolina from Raleigh to the coast (Rocky Mount, Tarboro, Nashville, Wilson, Raleigh, Jacksonville, Holly Ridge, Morehead City, Richlands, and a New Bern LPO). The underlying technology stack is a conventional community-bank platform: web-based online banking, iOS and Android mobile apps, remote deposit capture, FIS-powered bill payment, and Quicken/QuickBooks Direct Connect integration, with no disclosed proprietary AI or ML components.

The bank earns the majority of its revenue from net interest income — the spread between interest earned on its $1.219 billion loan portfolio (commercial, consumer, real estate) and interest paid on $1.244 billion of deposits — supplemented by transaction-based fees on deposit accounts, ATM usage, wire transfers, and other banking services. Customer segments are individual consumers and small-to-medium businesses in eastern North Carolina, served through a sales-led, relationship-based go-to-market emphasizing local credit decision-making and personal service rather than digital-native acquisition. As of March 31, 2026, the bank held $1.46 billion in total assets, generated $5.56 million in Q1 2026 net income (up 18.22% year-over-year), and reported full year 2025 net income of approximately $21.57 million.

Name

Providence Bank

Legal name

Providence Bank

Website

https://pbknc.com

Company type

Public

Founded year

2006

Operating status

Operating

Headcount range

101–250 employees

Short description

Providence Bank is a North Carolina state-chartered community bank (subsidiary of PB Financial Corporation, OTCQX: PBNC) offering personal and business banking — checking, savings, lending, digital, and cash management — across 10 branches and a loan production office in eastern North Carolina.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211)

SIC

State Commercial Banks (6022)

akta.pro primary industry

SME Deposits & Business Accounts (Operating, Savings, CDs) (FSABABAC)

Keywords

• Community banking services
• Personal banking products
• Business lending solutions
• Digital banking platform
• Cash management services

Headquarters

HQ city

Rocky Mount

HQ country

United States

HQ region

North America

Offices12 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

1. Net Interest Income: Interest income earned on loan portfolio (commercial, consumer, real estate loans) minus interest paid on deposits. Primary revenue driver representing the spread between interest earned on loans and interest paid on deposits.
2. Banking Fees and Service Charges: Fees from deposit accounts, ATM usage, wire transfers, and other banking services.

Go-to-market motion1 record

Distribution channels5 records

Marketing channels5 records

Core offering

Providence Bank is a state-chartered community bank headquartered in Rocky Mount, North Carolina, providing personal and business banking products including checking, savings, lending, and digital banking services. The bank operates 10 full-service branches plus a loan production office across eastern North Carolina and supplements its branch network with online banking, a mobile app, mobile deposit, Zelle, bill pay, and business cash management tools.

Product overview

Providence Bank is a state-chartered community bank offering a comprehensive suite of personal and business banking products. The bank provides personal services including Checking, Savings, Lending, Digital Banking, and Zelle for person-to-person payments. Business services include Business Checking, Business Savings, Lending and Credit, and Digital Solutions/Cash Management. The bank operates a Digital Banking platform comprising Online Banking (web-based), Mobile Banking (iOS/Android apps), Bill Pay (powered by FIS), and Mobile Deposit for remote check capture. Supplementary services include Financial Calculators for planning. All services are built around local decision-making and community banking, with the digital platform enabling 24/7 account access.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Checking accounts designed for everyday personal financial management, enabling customers to tap, track, and manage their money locally or on the road. Targeted at individual consumers in eastern North Carolina.
• Personal Savings Savings accounts for individuals designed to help customers save and grow their money. Targeted at individual consumers in eastern North Carolina.
• Personal Lending Personal loan products for individual borrowing needs. Targeted at individual consumers in eastern North Carolina.
• Digital Banking Online and mobile banking platform that lets customers view transactions, check balances, deposit checks remotely via Mobile Deposit, and pay bills. Includes a mobile app distributed on the Apple App Store and Google Play Store. Targeted at personal and small business customers.
• Zelle Person-to-person payment service enabling fast money transfers between bank accounts. Targeted at individual consumers for personal payments.
• Business Checking Business checking accounts serving as the central building block for an organization's financial tools. Targeted at small and medium businesses in eastern North Carolina.
• Business Savings Savings accounts designed for business financial management. Targeted at small and medium businesses.
• Business Lending and Credit Business lending solutions helping organizations access capital to start, grow, and thrive, including various commercial loan products. Targeted at small and medium businesses.
• Digital Solutions and Cash Management Business digital banking and cash management services, including Business Online Banking, Bill Pay, Remote Deposit Capture, and Quicken/QuickBooks Direct Connect integration, allowing businesses to manage accounts on their schedule. Targeted at small and medium businesses.

Quantifiable outcome

• 18.22% increase in Q1 2026 net income to $5.56 million compared to Q1 2025
• +2 more outcomes

Named customers2 records

Segments2 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration1 record

Feature4 records

Partnerships

Three partnerships are on record, tiered core and support.

• Coastal Bank & TrustcoreStrategic or Co-development Partner · 10 April 2024Merger completed April 10, 2024. Coastal Bank & Trust merged into Providence Bank, creating a community bank with approximately $1.2 billion in assets. Transaction valued at approximately $25.8 million. Added five branches in Jacksonville, Holly Ridge, Morehead City, and Richlands, plus a loan production office in New Bern. Former Coastal CEO Richard G. Jefferson remained with Providence Bank.
• Wyrick Robbins Yates & Ponton LLPsupportOthers · 10 April 2024Served as PB Financial's legal counsel for the merger with Coastal Bank & Trust.
• Ward and Smith, P.A.supportOthers · 10 April 2024Served as Coastal Bank & Trust's legal counsel for the merger.

Scale indicators10 records

Recent moves9 records

Expansion highlights5 records

Broad incumbents

• Truist Financial Corporation: Truist Financial (NYSE: TFC) is a Charlotte, NC-based super-regional bank with extensive North Carolina branch coverage. Competes with Providence Bank for SMB and consumer deposits and loans across eastern NC but offers a much broader suite of products and services.
• First Citizens BancShares: First Citizens BancShares (NASDAQ: FCNCA) is the largest North Carolina-headquartered bank and a dominant statewide incumbent with commercial, wealth, and consumer banking. Overlaps with Providence Bank's NC footprint and customer base, but operates at materially larger scale with broader product breadth.

Direct peers

• Pinnacle Financial Partners: Pinnacle Financial Partners (NYSE: PNFP) is a Tennessee-based community bank with a similar relationship-driven, locally decisioned commercial banking model. Comparable in scale to Providence Bank and frequently cited among top-performing community banks, making it a benchmark for operating metrics and valuation.
• Atlantic Union Bankshares: Atlantic Union Bankshares (NASDAQ: AUB) is a Virginia-based community bank holding company offering commercial and retail banking across the Mid-Atlantic. Highly comparable business mix of SMB and consumer banking with a similar regional community bank franchise orientation.
• First Bancorp: First Bancorp (NASDAQ: FBNC) is a North Carolina-headquartered community bank holding company with branches concentrated in the Carolinas. It is the closest publicly traded direct peer to Providence Bank given shared NC community banking focus, similar business model, and comparable SMB and retail customer mix.
• TowneBank: TowneBank (NASDAQ: TOWN) is a Virginia and North Carolina community bank with branches in coastal and Hampton Roads markets. Comparable to Providence Bank in coastal market exposure, SMB focus, and locally driven relationship banking approach.
• Southern First Bancshares: Southern First Bancshares (NASDAQ: SFST) is a Greenville, South Carolina-based community bank with similar asset size and a relationship-driven commercial and retail banking model. Directly comparable on business model, customer segments, and growth orientation.

Regional players

• KS Bancorp: KS Bancorp is the holding company for KS Bank, a North Carolina community bank headquartered in Kenly serving the I-95 and eastern NC corridor. Directly overlaps with Providence Bank's geographic service area and small business banking focus.
• Lumbee Guaranty Bank: Lumbee Guaranty Bank is a Pembroke, NC-based community bank serving southeastern North Carolina. A regionally focused peer with overlapping customer base in rural North Carolina markets and comparable community banking approach, but smaller in scale than Providence Bank.
• Select Bancorp: Select Bancorp was a North Carolina community bank holding company (formerly NASDAQ: SLCT) operating in similar eastern NC markets. Comparable community banking model and customer base, though it was acquired in recent years, illustrating the consolidation dynamic Providence Bank operates within.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• LinkedInlinkedin.com/company/providence-bank-north-carolina
• Instagraminstagram.com/providencebanknc
• Xx.com/pbknc_rates

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Providence Bank