Avidia Bancorp, Inc. Reports Fourth Quarter and Annual 2025 Financial Results, Declares Quarterly Cash Dividend
HUDSON, Mass.--( 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
BALANCE SHEET:
Total assets were $2.84 billion at December 31, 2025, increasing $50.1 million, or 1.8%, from September 30, 2025.
Total assets at December 31, 2025 increased $180.6 million, or 6.8% from December 31, 2024.
NET INTEREST INCOME
Net interest income was $23.6 million for the quarter ended December 31, 2025, compared to $23.4 million for the prior quarter, an increase of $177 thousand, or 0.8%. The net interest margin expanded 11 basis points to 3.54% for the quarter from 3.43% in the prior quarter.
Net interest income was $86.5 million for the year ended December 31, 2025, compared to $73.3 million for the year ended December 31, 2024, an increase of $13.2 million, or 18.1%. The net interest margin expanded 37 basis points to 3.29% for the year ended December 31, 2025, from 2.92% for the year ended December 31, 2024.
NON-INTEREST INCOME
Noninterest income was $3.7 million for the quarter ended December 31, 2025, compared to $4.5 million for the prior quarter, representing a decrease of $810 thousand, or 17.9%.
Noninterest income was flat at $17.0 million for the years ended December 31, 2025 and 2024 as lower mortgage banking income was offset by lower loss on sales of available for sale and equity securities.
NON-INTEREST EXPENSE
Noninterest expense was $18.4 million for the quarter ended December 31, 2025, compared to $28.4 million for the prior quarter, representing a decrease of $10.0 million, or 35.3%.
Noninterest expense was $87.8 million for the year ended December 31, 2025, compared to $73.1 million for the year ended December 31, 2024, representing an increase of $14.7 million, or 20.1%.
INCOME TAXES
Income tax expense for the quarter ended December 31, 2025, was $2.4 million, compared to an income tax benefit of $1.0 million in the prior quarter. Income tax benefit for the year ended December 31, 2025, was $2.4 million, compared to an income tax expense of $3.9 million for the year ended December 31, 2024.
ASSET QUALITY
The allowance for credit losses was $22.0 million as of December 31, 2025, or 0.96% of total loans, compared to $24.3 million, or 1.07% of total loans at September 30, 2025.
ABOUT AVIDIA BANCORP, INC.
Avidia Bancorp, Inc. is the bank holding company of Avidia Bank. Avidia Bank is a Massachusetts-chartered stock savings bank. With headquarters in Hudson, Massachusetts, it also operates nine full-service banking offices in western Middlesex County and eastern Worcester County, in Massachusetts.
NON-GAAP FINANCIAL MEASURES
This document contains certain non-GAAP financial measures in addition to results presented in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). These non-GAAP measures are intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and financial condition. Non-GAAP financial measures are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. A reconciliation of non-GAAP financial measures to GAAP measures is provided at the end of this document. In all cases, it should be understood that non-GAAP measures do not depict amounts that accrue directly to the benefit of shareholders. An item which management excludes when computing non-GAAP operating earnings can be of substantial importance to the Company’s results for any particular quarter or year. The Company’s non-GAAP operating earnings information set forth is not necessarily comparable to non- GAAP information which may be presented by other companies. Each non-GAAP measure used by the Company in this document as supplemental financial data should be considered in conjunction with the Company’s GAAP financial information. The Company adjusts certain equity related measures to exclude intangible assets due to the importance of these measures to the investment community.
FORWARD-LOOKING STATEMENTS
Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other similar expressions which do not relate to historical matters. Although we believe that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of future performance. You should not place undue reliance on forward-looking statements because they are subject to significant risks, uncertainties and other factors which are, in some cases, beyond our control. Our actual results could differ materially from those presented in the forward-looking statements as a result of, among other factors, changes in general business and economic conditions nationwide and in our local markets, including changes which adversely affect borrowers' ability to service and repay loans; changes in customer behavior due to political, business and economic conditions, including inflation; conditions in the capital and debt markets; reductions in net interest income resulting from interest rate volatility and changes in the balances and mix of our loans and deposits; changes in market interest rates and real estate values; decreases in the value of securities and other assets or in deposit levels necessitating increased borrowing to fund loans and investments; competition from other financial institutions; changes in legislation or regulation and accounting principles, policies and guidelines; cybersecurity incidents; fraud; natural disasters; the risk that we may be unsuccessful in implementing our business strategy; and the other risks and uncertainties disclosed in Avidia Bancorp, Inc.’s definitive prospectus dated May 13, 2025, as filed the U.S. Securities and Exchange Commission. Forward looking statements speak only as of the date of this release, and we do not undertake any obligation to update or revise any of them to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events, except as may be required by applicable law or regulation.
At or for the Quarters Ended
At or for the Years Ended
Dec. 31,
2025
Sept. 30,
2025
Dec. 31,
2024
Dec. 31,
2025
Dec. 31,
2024
$
23,609
$
23,432
$
19,082
$
86,541
$
73,260
3,716
4,526
3,159
17,024
17,019
18,361
28,369
18,139
87,805
73,097
1,217
1,540
(686
)
21,443
1,779
7,747
(1,951
)
4,788
(5,683
)
15,403
5,333
(907
)
3,509
(3,289
)
11,484
$
0.29
$
(0.05
)
N/A
$
(0.18
)
N/A
0.29
(0.05
)
N/A
$
(0.18
)
N/A
18.88
18.53
N/A
18.88
N/A
18.28
17.94
N/A
18.28
N/A
0.77
%
-0.13
%
0.53
%
-0.12
%
0.44
%
5.66
-1.14
8.07
-1.22
6.18
3.54
3.43
3.00
3.29
2.92
1.35
1.33
1.62
1.40
1.63
5.34
5.21
5.14
5.23
5.15
3.04
3.02
2.48
2.85
2.41
0.54
0.64
0.48
0.62
0.65
2.66
4.02
2.75
3.20
2.78
67.19
101.47
81.56
84.78
80.97
132.56
127.08
126.46
126.47
125.24
$
2,837,090
$
2,787,010
$
2,656,539
$
2,837,090
$
2,656,539
2,722,357
2,669,662
2,543,243
2,722,357
2,543,243
2,298,466
2,274,747
2,198,200
2,298,466
2,198,200
2,128,283
2,079,578
2,066,832
2,128,283
2,066,832
378,994
372,037
193,827
378,994
193,827
$
22,018
$
24,284
$
21,741
$
22,018
$
21,741
0.96
%
1.07
%
0.99
%
0.96
0.99
109.03
137.79
543.93
109.03
543.93
109.03
137.79
543.93
109.03
543.93
0.88
0.77
0.18
0.88
0.18
(0.65
)
(0.11
)
0.00
(0.96
)
(0.05
)
0.71
0.63
0.15
0.71
0.15
0.71
0.63
0.15
0.71
0.15
13.36
%
13.35
%
7.30
%
13.36
%
7.30
%
12.99
12.98
6.88
12.99
6.88
19.66
19.89
12.24
19.66
12.24
17.35
17.42
9.83
17.35
9.83
17.35
17.42
9.83
17.35
9.83
13.84
13.11
8.72
13.84
8.72
$
15,903
$
15,484
$
15,660
$
419
2.7
%
$
243
1.6
%
129,551
96,384
46,784
33,167
34.4
82,767
176.9
145,454
111,868
62,444
33,586
30.0
83,010
132.9
269,139
269,308
265,933
(169
)
(0.1
)
3,206
1.2
13,000
15,747
16,747
(2,747
)
(17.4
)
(3,747
)
(22.4
)
282,139
285,055
282,680
(2,916
)
(1.0
)
(541
)
(0.2
)
11,801
11,731
14,729
70
0.6
(2,928
)
(19.9
)
400
1,745
850
(1,345
)
(77.1
)
(450
)
(52.9
)
2,298,466
2,274,747
2,198,200
23,719
1.0
100,266
4.6
(22,018
)
(24,284
)
(21,741
)
2,266
(9.3
)
(277
)
1.3
2,276,448
2,250,463
2,176,459
25,985
1.2
99,989
4.6
29,183
29,270
28,498
(87
)
(0.3
)
685
2.4
36,660
36,375
35,526
285
0.8
1,134
3.2
8,537
8,141
8,897
396
4.9
(360
)
(4.0
)
10,372
10,832
12,795
(460
)
(4.2
)
(2,423
)
(18.9
)
11,936
11,936
11,936
-
-
-
-
3,033
3,149
3,488
(116
)
(3.7
)
(455
)
(13.0
)
21,127
26,445
18,237
(5,318
)
(20.1
)
2,890
15.8
$
2,837,090
$
2,787,010
$
2,656,539
$
50,080
1.8
%
$
180,551
6.8
%
$
2,128,283
$
2,079,578
$
2,066,832
$
48,705
2.3
%
$
61,451
3.0
%
260,000
260,000
325,000
-
-
(65,000
)
(20.0
)
27,815
27,778
27,679
37
0.1
136
0.5
41,998
47,617
43,201
(5,619
)
(11.8
)
(1,203
)
(2.8
)
$
2,458,096
$
2,414,973
$
2,462,712
$
43,123
1.8
%
$
(4,616
)
(0.2
)%
$
201
$
201
$
-
$
-
-
%
$
201
-
%
194,899
195,029
-
(130
)
(0.1
)
194,899
-
(15,258
)
(15,459
)
-
201
(1.3
)
(15,258
)
-
211,981
206,648
215,270
5,333
2.6
(3,289
)
(1.5
)
(12,829
)
(14,382
)
(21,443
)
1,553
(10.8
)
8,614
(40.2
)
$
378,994
$
372,037
$
193,827
$
6,957
1.9
%
$
185,167
95.5
%
$
2,837,090
$
2,787,010
$
2,656,539
$
50,080
1.8
%
$
180,551
6.8
%
$
78,350
$
76,027
$
66,326
$
2,323
3.1
%
$
12,024
18.1
%
518,225
521,606
511,495
(3,381
)
(0.6
)
6,730
1.3
534,855
526,345
484,106
8,510
1.6
50,749
10.5
104,695
98,647
83,905
6,048
6.1
20,790
24.8
57,005
51,311
49,028
5,694
11.1
7,977
16.3
1,293,130
1,273,936
1,194,860
19,194
1.5
98,270
8.2
491,765
495,263
499,920
(3,498
)
(0.7
)
(8,155
)
(1.6
)
506,683
498,164
494,875
8,519
1.7
11,808
2.4
11
40
264
(29
)
(72.5
)
(253
)
(95.8
)
998,459
993,467
995,059
4,992
0.5
3,400
0.3
3,877
4,274
5,060
(397
)
(9.3
)
(1,183
)
(23.4
)
3,877
4,274
5,060
(397
)
(9.3
)
(1,183
)
(23.4
)
2,295,466
2,271,677
2,194,979
23,789
1.0
100,487
4.6
(22,018
)
(24,284
)
(21,741
)
2,266
(9.3
)
(277
)
1.3
3,000
3,070
3,221
(70
)
(2.3
)
(221
)
(6.9
)
$
2,276,448
$
2,250,463
$
2,176,459
$
25,985
1.2
%
$
99,989
4.6
%
$
359,819
$
342,867
$
355,087
$
16,952
4.9
%
$
4,732
1.3
%
770,350
708,096
683,548
62,254
8.8
86,802
12.7
250,062
278,095
250,878
(28,033
)
(10.1
)
(816
)
(0.3
)
425,400
417,010
386,759
8,390
2.0
38,641
10.0
322,652
333,510
390,560
(10,858
)
(3.3
)
(67,908
)
(17.4
)
$
2,128,283
$
2,079,578
$
2,066,832
$
48,705
2.3
%
$
61,451
3.0
%
$
30,716
$
29,727
$
28,347
$
989
3.3
%
$
2,369
8.4
%
2,530
2,567
2,624
(37
)
(1.4
)
(94
)
(3.6
)
512
1,588
495
(1,076
)
(67.8
)
17
3.4
33,758
33,882
31,466
(124
)
(0.4
)
2,292
7.3
6,948
7,268
8,266
(320
)
(4.4
)
(1,318
)
(15.9
)
2,849
2,827
3,803
22
0.8
(954
)
(25.1
)
352
355
315
(3
)
(0.8
)
37
11.7
10,149
10,450
12,384
(301
)
(2.9
)
(2,235
)
(18.0
)
23,609
23,432
19,082
177
0.8
4,527
23.7
1,440
1,480
138
(40
)
(2.7
)
1,302
943.5
(223
)
60
(824
)
(283
)
(471.7
)
601
(72.9
)
22,392
21,892
19,768
500
2.3
2,624
13.3
918
912
922
6
0.7
(4
)
(0.4
)
(218
)
-
(1,876
)
(218
)
100.0
1,658
(88.4
)
-
-
64
-
-
(64
)
(100.0
)
1,720
1,857
1,900
(137
)
(7.4
)
(180
)
(9.5
)
285
279
257
6
2.2
28
10.9
103
121
589
(18
)
(14.9
)
(486
)
(82.5
)
380
358
357
22
6.1
23
6.4
528
999
946
(471
)
(47.1
)
(418
)
(44.2
)
3,716
4,526
3,159
(810
)
(17.9
)
557
17.6
9,476
9,773
9,221
(297
)
(3.0
)
255
2.8
1,658
1,933
1,941
(275
)
(14.2
)
(283
)
(14.6
)
3,251
2,251
2,834
1,000
44.4
417
14.7
818
790
468
28
3.5
350
74.8
363
526
1,165
(163
)
(31.0
)
(802
)
(68.8
)
217
651
447
(434
)
(66.7
)
(230
)
(51.5
)
408
423
310
(15
)
(3.5
)
98
31.6
91
81
93
10
12.3
(2
)
(2.2
)
245
179
60
66
36.9
185
308.3
1,834
11,762
1,600
(9,928
)
(84.4
)
234
14.6
18,361
28,369
18,139
(10,008
)
(35.3
)
222
1.2
7,747
(1,951
)
4,788
9,698
(497.1
)
2,959
61.8
2,414
(1,044
)
1,279
3,458
(331.2
)
1,135
88.7
$
5,333
$
(907
)
$
3,509
$
6,240
(688.0
)%
$
1,824
52.0
%
18,537
18,520
N/A
17
0.1
%
N/A
N/A
18,537
18,520
N/A
17
0.1
N/A
N/A
$
0.29
$
(0.05
)
N/A
$
0.34
(687.5
)
N/A
N/A
$
0.29
$
(0.05
)
N/A
$
0.34
(687.5
)
N/A
N/A
$
117,542
$
111,536
$
6,006
5.4
%
10,304
10,249
55
0.5
2,736
1,948
788
40.5
130,582
123,733
6,849
5.5
29,552
32,870
(3,318
)
(10.1
)
13,116
16,343
(3,227
)
(19.7
)
1,373
1,260
113
9.0
44,041
50,473
(6,432
)
(12.7
)
86,541
73,260
13,281
18.1
21,748
2,103
19,645
934.1
(305
)
(324
)
19
(5.9
)
65,098
71,481
(6,383
)
(8.9
)
3,570
3,637
(67
)
(1.8
)
(837
)
(4,234
)
3,397
(80.2
)
-
2,597
(2,597
)
(100.0
)
7,849
7,489
360
4.8
1,132
927
205
22.1
402
1,568
(1,166
)
(74.4
)
1,400
1,393
7
-
3,508
3,642
(134
)
(3.7
)
17,024
17,019
5
0.0
39,724
34,721
5,003
14.4
6,342
8,319
(1,977
)
(23.8
)
13,183
10,123
3,060
30.2
3,356
2,288
1,068
46.7
2,863
4,230
(1,367
)
(32.3
)
2,281
2,481
(200
)
(8.1
)
1,427
1,432
(5
)
(0.3
)
360
383
(23
)
(6.0
)
731
349
382
109.5
17,538
8,771
8,767
100.0
87,805
73,097
14,708
20.1
(5,683
)
15,403
(21,086
)
(136.9
)
(2,394
)
3,919
(6,313
)
(161.1
)
$
(3,289
)
$
11,484
$
(14,773
)
(128.6
)%
18,531
N/A
N/A
N/A
18,531
N/A
N/A
N/A
$
(0.18
)
N/A
N/A
N/A
$
(0.18
)
N/A
N/A
N/A
Average
Outstanding
Balance
Interest
Average
Yield/Rate
Average
Outstanding
Balance
Interest
Average
Yield/Rate
Average
Outstanding
Balance
Interest
Average
Yield/Rate
$
72,847
$
512
2.79
%
$
150,428
$
1,588
4.19
%
$
54,300
$
495
3.63
%
295,120
2,530
3.40
292,031
2,567
3.49
286,897
2,624
3.64
2,280,267
30,716
5.34
2,264,095
29,727
5.21
2,192,961
28,347
5.14
2,648,234
33,758
5.06
2,706,554
33,882
4.97
2,534,158
31,466
4.94
107,874
116,574
106,087
$
2,756,108
$
2,823,128
$
2,640,245
$
684,815
$
804
0.47
%
$
822,525
$
833
0.40
%
$
583,135
$
774
0.53
%
277,852
898
1.28
274,203
918
1.33
269,584
891
1.32
419,232
2,278
2.16
411,941
2,407
2.32
367,740
2,176
2.35
328,333
2,968
3.59
334,638
3,110
3.69
399,508
4,425
4.41
1,710,231
6,948
1.61
1,843,307
7,268
1.56
1,619,967
8,266
2.03
259,702
2,849
4.35
258,782
2,827
4.33
356,313
3,803
4.25
27,791
352
5.03
27,753
355
5.07
27,654
315
4.53
1,997,724
10,149
2.02
2,129,842
10,450
1.95
2,003,934
12,384
2.46
349,454
341,083
422,435
32,301
34,777
39,885
2,379,478
2,505,702
2,466,254
376,630
317,426
173,991
$
2,756,108
$
2,823,128
$
2,640,245
$
23,609
$
23,432
$
19,082
3.04
%
3.02
%
2.48
%
$
650,510
$
576,712
$
530,224
3.54
%
3.43
%
3.00
%
1.35
%
1.33
%
1.62
%
132.56
%
127.08
%
126.46
%
$
720
$
387
$
1,350
6,478
8,930
-
6,126
-
-
6,870
8,307
2,647
$
20,194
$
17,624
$
3,997
-
-
-
$
20,194
$
17,624
$
3,997
0.88
%
0.77
%
0.18
%
0.88
0.77
0.18
$
24,284
$
23,425
$
21,585
(3,790
)
(844
)
(59
)
84
223
77
(3,706
)
(621
)
18
1,440
1,480
138
$
22,018
$
24,284
$
21,741
0.96
%
1.07
%
0.99
%
109.03
137.79
543.93
109.03
137.79
543.93
$
1
$
2
$
1
(2,454
)
-
-
-
135
25
(1,260
)
(766
)
(15
)
7
8
7
$
(3,706
)
$
(621
)
$
18
(0.65
)%
(0.11
)%
-
%
$
378,994
$
372,037
$
193,827
11,936
11,936
11,936
$
367,058
$
360,101
$
181,891
$
2,837,090
$
2,787,010
$
2,656,539
11,936
11,936
11,936
$
2,825,154
$
2,775,074
$
2,644,603
13.36
%
13.35
%
7.30
%
12.99
%
12.98
%
6.88
%
20,076
20,076
N/A
$
18.88
$
18.53
N/A
$
18.28
$
17.94
N/A