AVBC

HUDSON, Mass., April 23, 2026--(BUSINESS WIRE)--Avidia Bancorp, Inc. (the "Company") (NYSE: "AVBC"), the holding company of Avidia Bank, today reported first quarter 2026 consolidated financial results. Net income for the first quarter of 2026 was $6.0 million, or $0.32 per share, compared to net income of $5.3 million, or $0.29 per share, for the fourth quarter of 2025. The Company also announced today the declaration of a quarterly cash dividend of $0.05 per share on its outstanding shares of common stock, payable on or about May 28, 2026, to stockholders of record as of the close of business on May 19, 2026. CEO Robert Cozzone stated, "Earnings per share growth of 10.3% in the first quarter reflects our focus on improving profitability through good financial discipline. Although loan growth was seasonally slow, the ongoing efforts of my colleagues led to improvements in most other performance measures." SELECTED FIRST QUARTER 2026 FINANCIAL HIGHLIGHTS Net income was $6.0 million, or $0.32 per share. Net interest margin increased quarter-over-quarter by 7 basis points to 3.61%. Return on average assets increased quarter-over-quarter by 9 basis points to 0.86%. Efficiency ratio for the quarter was 67.2%. Book value per share and tangible book value per share (non-GAAP) increased to $19.09 and $18.49, respectively. See the non-GAAP reconciliation at the end of this document for further information. BALANCE SHEET: Total assets were $2.81 billion at March 31, 2026, decreasing $30.0 million, or 1.1%, from December 31, 2025. Total cash and cash equivalents decreased by $52.4 million, or 36.0%, to $93.0 million from $145.5 million in the prior quarter. This decrease was primarily the result of net paydowns of Federal Home Loan Bank advances and the reinvestment of cash into securities and bank owned life insurance, offset by deposit growth and the decline in loans. Total available for sale securities increased by $26.8 million, or 10.0%, to $295.9 million from $269.1 million in the prior quarter, primarily the result of purchases of $43.7 million, offset by paydowns of $14.8 million. Total loans decreased by $13.9 million, or 0.6%, to $2.28 billion, from $2.30 billion in the prior quarter, primarily the result of decreases in construction and land loans of $9.5 million and condominium association loans of $9.2 million. Loan balances reflect the final sale and clo...

HUDSON, Mass., January 29, 2026--(BUSINESS WIRE)--Avidia Bancorp, Inc. (the "Company") (NYSE: "AVBC"), the holding company of Avidia Bank, today reported fourth quarter and annual 2025 consolidated financial results. Net income for the fourth quarter of 2025 was $5.3 million, or $0.29 per share, compared to net income of $3.5 million for the fourth quarter of 2024. For the year ended December 31, 2025, the net loss was $3.3 million, or ($0.18) per share, compared to net income of $11.5 million for the year ended December 31, 2024. The Company also announced today the declaration of a quarterly cash dividend of $0.05 per share on its outstanding shares of common stock, payable on or about February 26, 2026, to stockholders of record as of the close of business on February 17, 2026. This is the Company’s initial cash dividend payment following its initial public stock offering in July 2025. "Our primary objective of deploying our newly issued capital in a disciplined manner was reflected in fourth quarter results." said Robert Cozzone, President and Chief Executive Officer. "Growth across most commercial loan categories was fully funded with core deposits growth, leading to net interest margin expansion. In addition, solid earnings for the quarter contributed to 2.1% growth in tangible book value per share. We are also pleased to announce the initiation of our first quarterly dividend." SELECTED FOURTH QUARTER FINANCIAL HIGHLIGHTS Net income was $5.3 million, or $0.29 per share, for the fourth quarter. Net interest margin increased quarter-over-quarter by 11 basis points to 3.54%. Efficiency ratio of 67.2% continues to improve over prior periods. Book value per share and tangible book value per share (non-GAAP) increased to $18.88 and $18.28, respectively. See the non-GAAP reconciliation at the end of this document for further information. BALANCE SHEET: Total assets were $2.84 billion at December 31, 2025, increasing $50.1 million, or 1.8%, from September 30, 2025. Total cash and cash equivalents increased by $33.6 million, or 30.0%, to $145.5 million from $111.9 million in the prior quarter, primarily as a result of $48.7 million in deposit growth, partially offset by loan growth of $23.7 million. Total loans increased by $23.7 million, or 1.0%, to $2.30 billion, from $2.27 billion in the prior quarter. Moderate growth was seen across most segments, and was...

HUDSON, Mass., October 23, 2025--(BUSINESS WIRE)--Avidia Bancorp, Inc. (the "Company") (NYSE: "AVBC"), the holding company of Avidia Bank, today reported third quarter financial results. Concurrent with the mutual-to-stock conversion of Avidia Bank’s former mutual holding company and as described in the prospectus for the Company’s initial public offering ("IPO"), the Company made a $10 million, one-time donation, of 900 thousand shares of common stock at a total market value of $9.0 million and a $1.0 million cash contribution to the Avidia Bank Charitable Foundation, Inc. This contribution resulted in a net loss of $907 thousand for the third quarter of 2025, or ($0.05) per share, compared to net income of $3.9 million reported for the prior quarter. "We are pleased with the results for our initial quarter as a publicly traded company" said Robert Cozzone, President and Chief Executive Officer. "Our core metrics are solid, and we are well positioned for the future." SELECTED FINANCIAL HIGHLIGHTS Net loss was $907 thousand, or ($0.05) per share, for the third quarter due to the stock and cash contribution to the Avidia Bank Charitable Foundation, Inc. Book value per share and tangible book value per share (non-GAAP) were $18.50 and $17.91, respectively, as of September 30, 2025. See the non-GAAP reconciliation at the end of this document for further information. BALANCE SHEET: Total assets were $2.8 billion at September 30, 2025, representing a decrease of $170.9 million, or 5.8%, from June 30, 2025. Total cash and cash equivalents decreased by $196.7 million from the second quarter, primarily due to the elevated cash balance as of June 30, 2025 related to the funds received from the IPO subscription offering. Gross loans increased by $26.7 million from the second quarter to $2.27 billion, primarily from an increase in commercial real estate loans. Loan exposure related to office space at September 30, 2025 was $86 million or 3.8% of gross loans. Deposits decreased by $363.7 million from the second quarter to $2.08 billion, primarily due to the utilization of balances associated with subscription funds related to the conversion during the third quarter. Total shareholders’ equity increased by $180.0 million from the second quarter to $371.4 million. The increase was primarily attributable to the capital raised during the Company’s IPO, which was completed o...

HUDSON, Mass., August 01, 2025--(BUSINESS WIRE)--Avidia Bancorp, Inc. (the "Company") (NYSE: "AVBC"), the holding company of Avidia Bank, today reported second quarter financial results of Assabet Valley Bancorp, the former mutual holding company of Avidia Bank. As previously reported, Assabet Valley Bancorp completed its mutual-to-stock conversion transaction effective July 31, 2025, which resulted in the Company completing its initial public offering of shares of its common stock and becoming the stock holding company of Avidia Bank. Selected Financial Highlights for the Second Quarter of 2025 Statement of Operations: Quarterly net income was $3.9 million, compared to a net loss of $11.6 million for the first quarter. Quarterly net interest income increased by $1.4 million from the first quarter to $20.6 million. Net interest margin increased by 15 basis points from the first quarter to 3.19%. The cost of interest-bearing liabilities decreased by 13 basis points. The cost of total deposits fell 14 basis points to 1.36%. Provision for credit losses totaled $1.1 million. Quarterly non-interest income increased by $1.5 million from the first quarter to $5.2 million. Quarterly non-interest expense decreased by $2.1 million from the first quarter to $19.8 million. Salaries and employee benefits decreased $2.7 million from the first quarter as there were incentive plan terminations and increased short-term incentive payouts in the previous quarter. The efficiency ratio was 76.4%, compared to 95.2% in the first quarter. Income tax expense was $1.2 million. Balance Sheet: Total cash and cash equivalents increased by $225 million from the first quarter, primarily related to the funds received from the IPO subscription offering. Gross loans increased by $15.0 million from the first quarter to $2.25 billion. Deposits increased by $309 million from the first quarter to $2.44 billion, also primarily related to funds received from the IPO subscription offering. Federal Home Loan Bank advances decreased by $65 million from the first quarter to $260.0 million. Total capital increased by $5.4 million from the first quarter to $191.4 million. Asset Quality: Non-accrual loans to total loans was 0.50% compared to 0.53% in the first quarter. About Avidia Bancorp, Inc. Avidia Bancorp, Inc. is the bank holding company of Avidia Bank. Avidia Bank is a Massachusetts-chartered stoc...