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Highlights

  • Avidia Bancorp reported USD 3.9 million in Q2 net income, reversing a Q1 net loss of USD 11.6 million.
  • Net interest income rose to USD 20.6 million, with net interest margin improving to 3.19%.
  • Deposits increased by USD 309 million following completion of IPO subscription offering.

Avidia Bancorp, Inc. (NYSE: AVBC), the newly formed stock holding company of Avidia Bank, released its second quarter financial results for 2025 following the completion of its mutual-to-stock conversion on July 31, 2025. The company completed its initial public offering in connection with this transaction and now operates as the public parent of Avidia Bank.

For the second quarter, the company reported net income of USD 3.9 million, compared to a net loss of USD 11.6 million in the first quarter. This performance was supported by a USD 1.4 million increase in net interest income, reaching USD 20.6 million, and a 15 basis point improvement in net interest margin to 3.19%.

Total deposits rose by USD 309 million from the prior quarter to USD 2.44 billion, while cash and cash equivalents increased by USD 225 million. Both increases were primarily attributed to proceeds from the IPO subscription offering. Gross loans increased by USD 15 million to USD 2.25 billion, and Federal Home Loan Bank advances decreased by USD 65 million to USD 260 million.

Non-interest income climbed by USD 1.5 million to USD 5.2 million, while non-interest expenses declined by USD 2.1 million to USD 19.8 million. A USD 2.7 million reduction in salary and benefit costs reflected the absence of incentive plan terminations and lower payouts compared to the prior quarter. The company’s efficiency ratio improved to 76.4% from 95.2% in Q1.

Provision for credit losses totaled USD 1.1 million, and income tax expense was USD 1.2 million. Asset quality remained stable, with non-accrual loans representing 0.50% of total loans, slightly lower than 0.53% in the prior quarter. Total capital rose by USD 5.4 million to USD 191.4 million.