Form 8-K

8-K — Avidia Bancorp, Inc.

Accession: 0001193125-26-318176

Filed: 2026-07-27

Period: 2026-07-23

CIK: 0002058758

SIC: 6036 (SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — avbc-20260723.htm (Primary)

EX-99.1 (avbc-ex99_1.htm)

GRAPHIC (img180766831_0.jpg)

XML — IDEA: XBRL DOCUMENT (R1.htm)

8-K

8-K (Primary)

Filename: avbc-20260723.htm · Sequence: 1

8-K

0002058758false00020587582026-07-232026-07-23

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 23, 2026

Avidia Bancorp, Inc.

(Exact name of Registrant as Specified in Its Charter)

Maryland

001-42775

33-4239888

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

42 Main Street

Hudson, Massachusetts

01749

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone Number, Including Area Code: 800 5082265

(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Common stock, $0.01 par value per share

AVBC

New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02 Results of Operations and Financial Condition.

On July 23, 2026, Avidia Bancorp, Inc. (the “Company”), the holding company of Avidia Bank, issued a press release announcing the unaudited consolidated financial results of the Company for the three and six months ended June 30, 2026 and the declaration of a dividend of $0.06 per share payable on or about August 27, 2026 to stockholders of record as of the close of business on August 18, 2026. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1 Press Release dated July 23, 2026

104 Cover Page Interactive Data File (Embedded within Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

AVIDIA BANCORP, INC

Date:

July 27, 2026

By:

/s/ Jonathan Nelson

Jonathan Nelson

Chief Financial Officer

EX-99.1

Filename: avbc-ex99_1.htm · Sequence: 2

EX-99.1

Exhibit 99.1

Contact:

Robert D. Cozzone

President and Chief Executive Officer

Avidia Bancorp, Inc.

(800) 508-2265

Avidia Bancorp, Inc. Reports Second Quarter 2026 Financial Results, Increases Quarterly Cash Dividend

HUDSON, MA; July 23, 2026 – Avidia Bancorp, Inc. (the “Company”) (NYSE: “AVBC”), the holding company of Avidia Bank, today reported second quarter 2026 net income of $7.2 million, or $0.39 per share, compared to first quarter 2026 net income of $6.0 million, or $0.32 per share.

The Company also announced a 20% increase in its quarterly cash dividend to $0.06 per share from $0.05 per share, payable on or about August 27, 2026, to stockholders of record as of the close of business on August 18, 2026.

CEO Robert Cozzone stated, “Earnings growth of 20% quarter-over-quarter reflected increases in most categories of fee income. Our process improvement strategies contributed to better efficiency, and we achieved a 1.04% return on assets. We joined the Russell 2000 stock index on June 26, which deepens the market for our stock.”

SECOND QUARTER 2026 FINANCIAL HIGHLIGHTS(comparisons are to prior quarter)

•

Net interest margin increased by 3 basis points to 3.64%.

•

Return on assets increased by 18 basis points to 1.04%.

•

Return on equity increased by 107 basis points to 7.43%.

•

Efficiency ratio improved to 65.3% from 67.2%.

•

Book value per share and tangible book value per share (non-GAAP) increased to $19.40 and $18.81, respectively. See the non-GAAP reconciliation at the end of this document for further information.

BALANCE SHEET

Total assets were $2.78 billion at June 30, 2026, decreasing $29 million, or 1%, from March 31, 2026.

•

Short-term investments fell by $22 million to $51 million as excess cash was invested into longer term securities and used to pay down wholesale borrowings.

•

Total investment securities grew by $19 million from March 31, to $328 million.

•

Total loans decreased by $24 million, or 1%, to $2.26 billion, due primarily to a reduction in outstanding commercial loans.

Loan exposure related to non-medical office space at June 30, 2026 was $93.4 million or 4.1% of gross loans. When excluding owner-occupied, total non-medical office exposure was $75.1 million.

•

Deposits grew by $7 million, or 0.3%, to $2.15 billion, due primarily to higher money market account balances.

•

Federal Home Loan Bank advances decreased $45 million to $160 million.

•

Total stockholders’ equity increased $6 million, or 2%, to $390 million, primarily due to retained earnings. Stockholders' equity to total assets was 14.0% at quarter-end.

Tangible stockholders' equity to tangible assets (non-GAAP) was 13.6%.

REVENUE

Total net revenue increased to $29.9 million in the second quarter of 2026, an increase of $1.6 million, or 6%, compared to the prior quarter.

•

Second quarter 2026 net interest income was unchanged from the prior quarter. The net interest margin improved by 3 basis points to 3.64%.

The yield on earning assets remained steady at 5.05%. Loan income was negatively impacted by $195 thousand from loan accrual reversals.

The cost of interest-bearing liabilities decreased 4 basis points to 1.89% as a result of the reduction in higher cost borrowings.

•

Non-interest income increased $1.6 million to $5.9 million from the prior quarter.

Customer service fees increased $419 thousand to $1.3 million, primarily from increases in HSA fees during the quarter.

Payment processing income increased $683 thousand to $2.6 million. This included approximately $230 thousand in one-time fees from a contract termination as well as the benefit of higher business volumes.

Other income increased $377 thousand from the first quarter as a result of a $110 thousand increase in run rate BOLI income as well as a $144 thousand increase in the valuation on the market value of our RABBI Trust investments.

NON-INTEREST EXPENSE

•

Total non-interest expense increased $509 thousand, or 3%, to $19.5 million in the second quarter of 2026.

Salaries and benefits decreased by $237 thousand due to seasonal factors.

Occupancy and equipment costs were lower in the second quarter by $388 thousand due to lower seasonal costs, primarily snow removal.

Professional fees increased $408 thousand from the previous quarter due to loan workout costs and consulting costs associated with the Company’s efficiency initiative.

Marketing and promotions increased $218 thousand as a result of timing on specific promotions and investments in business development.

Other general and administrative expenses increased by $355 thousand over the previous quarter, with the largest contributing factor being a periodic review fee associated with the payments business.

INCOME TAXES

Income tax expense increased $112 thousand to $2.3 million in the second quarter of 2026 compared to the prior quarter.

•

The effective income tax rate decreased to 24% from 27% for these periods, primarily due to the BOLI investment that occurred at the end of the first quarter.

ASSET QUALITY

The period-end allowance for credit losses was $23.9 million in the second quarter of 2026 compared to $22.8 million at the prior quarter-end. The ratio of the allowance to total loans increased to 1.06% from 1.00% for these dates.

•

Provision expense for credit losses decreased $197 thousand to $892 thousand.

•

The Company recorded a benefit to the allowance of $420 thousand for net recoveries in the second quarter, compared to net charge-offs of $116 thousand recorded in the prior quarter.

•

Non-accruing loans were $16.9 million, or 0.75% of total loans, at period-end, compared to $13.6 million, or 0.60% of total loans, at the prior quarter-end, primarily due to an increase in non-accruing commercial & industrial loans.

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 financial measures 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 operating results for any particular quarter or year. The Company’s non-GAAP operating earnings information 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 document 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 Annual Report or Form 10-K, and updated by our Quarterly Reports on Form 10-Q, and other filings with 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.

Avidia Bancorp, Inc.

Selected Consolidated Financial Highlights (Unaudited)

At or for the Quarters Ended

(Dollars in thousands, except per share data)

June 30, 2026

March 31, 2026

June 30, 2025

Earnings Data:

Net interest income

23,964

23,982

20,618

Total non-interest income

5,902

4,286

5,246

Total net revenue

29,866

28,268

25,864

Total non-interest expense

19,501

18,992

19,763

Provision for credit losses

892

1,089

1,071

Income before income tax expense

9,473

8,187

5,030

Net income

7,170

5,996

3,872

Per-Share Data:

Earnings per share, basic

0.39

0.32

N/A

Earnings per share, diluted

0.39

0.32

N/A

Book value per share

19.40

19.10

N/A

Tangible book value per share (non-GAAP)(1)

18.81

18.51

N/A

Performance Ratios:

Return on average assets (annualized)

1.04

0.86

0.57

Return on average equity (annualized)

7.43

6.36

8.20

Return on average tangible common equity (non-GAAP)(1)

7.76

6.57

8.88

Net interest margin(2)

3.64

3.61

3.19

Interest rate spread (3)

3.16

3.12

2.76

Yield on loans

5.32

5.37

5.20

Cost of deposits

1.32

1.31

1.36

Noninterest income as a percentage of average assets

0.86

0.62

0.77

Noninterest expense as a percentage of average assets

2.83

2.74

2.91

Efficiency ratio(4)

65.29

67.19

76.41

Total loans as a percentage of total deposits

104.97

106.45

92.15

Average interest-earning assets as a percentage of average interest-bearing liabilities

134.37

133.43

124.77

Balance Sheet, (end of period):

Total assets

2,780,104

2,807,417

2,957,908

Total earning assets

2,647,488

2,677,277

2,827,019

Total loans

2,260,543

2,284,555

2,248,021

Total deposits

2,153,608

2,146,160

2,443,106

Total stockholders' equity

389,536

383,521

191,426

Asset Quality:

Allowance for credit losses

23,926

22,761

23,425

Allowance for credit losses as a percentage of total loans

1.06

1.00

1.04

Allowance for credit losses as a percentage of nonperforming loans

141.46

167.02

207.37

Allowance for credit losses as a percentage of nonaccrual loans

141.46

167.02

207.37

Non-accrual loans as a percentage of total loans

0.75

0.60

0.50

Net loan recoveries (charge-offs) as a percentage of average loans (annualized)

0.07

(0.02

)

0.01

Total nonaccruing assets as a percentage of total assets

0.61

0.49

0.38

Total nonperforming assets as a percentage of total assets

0.61

0.49

0.38

Capital Ratios:

Total stockholders' equity as a percentage of total assets

14.01

13.66

6.47

Tangible stockholders' equity as a percentage of tangible assets (non-GAAP)(1)

13.64

13.29

6.09

Total capital as a percentage of risk-weighted assets (5)

20.11

19.75

11.57

Common equity tier 1 capital as a percentage of risk-weighted assets (5)

17.72

17.42

9.14

Tier 1 capital as a percentage of average assets (5)

14.19

13.74

7.24

(1) Reconciliation of non-GAAP financial measures appears on page 12.

(2) Represents net interest income as a percentage of average interest-earning assets.

(3) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of

interest-bearing liabilities.

(4) Represents noninterest expenses divided by the sum of net interest income and noninterest income.

(5) Presented as projected for June 30, 2026 and actual for the remaining dates.

Avidia Bancorp, Inc.

Consolidated Balance Sheets (Unaudited)

As of

June 30, 2026 Change From

(Dollars in thousands)

June 30, 2026

March 31, 2026

June 30, 2025

March 31, 2026

June 30, 2025

Assets

Cash and due from banks

19,171

19,231

24,667

(60

)

(0.3

)

(5,496

)

(22.3

)

Short-term investments

51,303

73,793

283,919

(22,490

)

(30.5

)

(232,616

)

(81.9

)

Total cash and cash equivalents

70,474

93,024

308,586

(22,550

)

(24.2

)

(238,112

)

(77.2

)

Securities available for sale, at fair value

315,091

295,924

266,249

19,167

6.5

48,842

18.3

Securities held to maturity, at amortized cost

12,500

13,000

16,747

(500

)

(3.8

)

(4,247

)

(25.4

)

Total securities

327,591

308,924

282,996

18,667

6.0

44,595

15.8

Federal Home Loan Bank stock, at cost

8,051

9,817

12,083

(1,766

)

(18.0

)

(4,032

)

(33.4

)

Loans held for sale

188

(188

)

(100.0

)

Total loans

2,260,543

2,284,555

2,248,021

(24,012

)

(1.1

)

12,522

0.6

Less: Allowance for credit losses

(23,926

)

(22,761

)

(23,425

)

(1,165

)

5.1

(501

)

2.1

Net loans

2,236,617

2,261,794

2,224,596

(25,177

)

(1.1

)

12,021

0.5

Premises and equipment, net

29,153

29,029

29,098

124

0.4

0.2

Bank-owned life insurance

47,309

46,929

36,093

380

0.8

11,216

31.1

Accrued interest receivable

8,700

8,683

8,922

0.2

(222

)

(2.5

)

Net deferred tax asset

12,842

10,584

11,323

2,258

21.3

1,519

13.4

Goodwill

11,936

Mortgage servicing rights

3,168

3,086

3,253

2.7

(85

)

(2.6

)

Other assets

24,263

23,423

29,022

840

3.6

(4,759

)

(16.4

)

Total assets

2,780,104

2,807,417

2,957,908

(27,313

)

(1.0

)

(177,804

)

(6.0

)

Liabilities

Deposits

2,153,608

2,146,160

2,443,106

7,448

0.3

(289,498

)

(11.8

)

Federal Home Loan Bank advances

160,000

205,000

260,000

(45,000

)

(22.0

)

(100,000

)

(38.5

)

Subordinated debt

27,877

27,852

27,738

0.1

139

0.5

Accrued expenses and other liabilities

49,083

44,884

35,638

4,199

9.4

13,445

37.7

Total liabilities

2,390,568

2,423,896

2,766,482

(33,328

)

(1.4

)

(375,914

)

(13.6

)

Stockholders' equity:

Common Stock

201

0.0

201

Additional paid-in capital

195,228

195,057

171

0.1

195,228

Unallocated ESOP common stock

(14,857

)

(15,057

)

200

(1.3

)

(14,857

)

Retained earnings

223,138

216,973

207,555

6,165

2.8

15,583

7.5

Accumulated other comprehensive loss

(14,174

)

(13,653

)

(16,129

)

(521

)

3.8

1,955

(12.1

)

Total stockholders' equity

389,536

383,521

191,426

6,015

1.6

198,110

103.5

Total liabilities and stockholders' equity

2,780,104

2,807,417

2,957,908

(27,313

)

(1.0

)

(177,804

)

(6.0

)

Avidia Bancorp, Inc.

Consolidated Loan and Deposit Analysis (Unaudited)

Loan Analysis

As of

June 30, 2026 Change From

(Dollars in thousands)

June 30, 2026

March 31, 2026

June 30, 2025

March 31, 2026

June 30, 2025

Real estate loans

One to four family residential

517,975

513,146

514,108

4,829

0.9

3,867

0.8

Home equity and second mortgages

82,886

83,371

74,439

(485

)

(0.6

)

8,447

11.3

Commercial real estate

540,209

537,752

512,509

2,457

0.5

27,700

5.4

Commercial real estate multifamily

103,477

104,253

91,845

(776

)

(0.7

)

11,632

12.7

Construction & land

45,928

47,467

48,900

(1,539

)

(3.2

)

(2,972

)

(6.1

)

Total real estate loans

1,290,475

1,285,989

1,241,801

4,486

0.3

48,674

3.9

Commercial loans

Condominium associations

494,331

497,503

496,161

(3,172

)

(0.6

)

(1,830

)

(0.4

)

Commercial & industrial

469,491

494,514

502,434

(25,023

)

(5.1

)

(32,943

)

(6.6

)

PPP loans

—

(68

)

(100.0

)

Total commercial loans

963,822

992,017

998,663

(28,195

)

(2.8

)

(34,841

)

(3.5

)

Consumer loans

Consumer

3,082

3,456

4,543

(374

)

(10.8

)

(1,461

)

(32.2

)

Total consumer loans

3,082

3,456

4,543

(374

)

(10.8

)

(1,461

)

(32.2

)

Total loans

2,257,379

2,281,462

2,245,007

(24,083

)

(1.1

)

12,372

0.6

Allowance for credit losses

(23,926

)

(22,761

)

(23,425

)

(1,165

)

5.1

(501

)

2.1

Net deferred loan costs

3,164

3,093

3,014

2.3

150

5.0

Loans, net

2,236,617

2,261,794

2,224,596

(25,177

)

(1.1

)

12,021

0.5

Deposit Analysis

As of

June 30, 2026 Change From

(Dollars in thousands)

June 30, 2026

March 31, 2026

June 30, 2025

March 31, 2026

June 30, 2025

Noninterest-bearing demand

369,282

388,527

340,904

(19,245

)

(5.0

)

28,378

8.3

NOW

753,470

733,674

1,082,505

19,796

2.7

(329,035

)

(30.4

)

Money market

279,529

262,773

269,275

16,757

6.4

10,254

3.8

Savings

432,310

435,332

411,990

(3,022

)

(0.7

)

20,320

4.9

Certificates of deposits

319,017

325,855

338,432

(6,838

)

(2.1

)

(19,415

)

(5.7

)

Total deposits

2,153,608

2,146,160

2,443,106

7,448

0.3

(289,498

)

(11.8

)

Avidia Bancorp, Inc.

Consolidated Statements of Operations QTD (Unaudited)

Three Months Ended June 30, 2026 Change

Three Months Ended

From Three Months Ended

(Dollars in thousands, except per share data)

June 30, 2026

March 31, 2026

June 30, 2025

March 31, 2026

June 30, 2025

Interest and dividend income

Loans, including fees

29,961

30,313

28,883

(352

)

(1.2

)

1,078

3.7

Securities

2,877

2,544

2,555

333

13.1

322

12.6

Other

400

742

421

(342

)

(46.1

)

(21

)

(5.0

)

Total interest and dividend income

33,238

33,599

31,859

(361

)

(1.1

)

1,379

4.3

Interest expense

Deposits

6,992

6,884

7,242

108

1.6

(250

)

(3.5

)

Federal Home Loan Bank advances

1,930

2,381

3,647

(451

)

(18.9

)

(1,717

)

(47.1

)

Subordinated debt

352

0.0

Total interest expense

9,274

9,617

11,241

(343

)

(3.6

)

(1,967

)

(17.5

)

Net interest income

23,964

23,982

20,618

(18

)

(0.1

)

3,346

16.2

Provision expense for credit losses - loans

745

859

1,523

(114

)

(13.3

)

(778

)

(51.1

)

Provision expense (reversal) for credit losses - off-balance sheet credit exposures

147

230

(452

)

(83

)

(36.1

)

599

132.5

Total provision expense for credit losses

892

1,089

1,071

(197

)

(18.1

)

(179

)

(16.7

)

Net interest income, after provision expense for credit losses

23,072

22,893

19,547

179

0.8

3,525

18.0

Non-interest income:

Customer service fees

1,338

919

884

419

45.6

454

51.4

Net loss on sale of securities available for sale

(78

)

100.0

Payment processing income

2,592

1,909

2,079

683

35.8

513

24.7

Income on bank-owned life insurance

379

269

289

110

40.9

31.1

Mortgage banking income

287

263

162

9.1

125

77.2

Investment commissions

359

356

312

0.8

15.1

Other

947

570

1,598

377

66.1

(651

)

(40.7

)

Total non-interest income

5,902

4,286

5,246

1,616

37.7

656

12.5

Non-interest expense:

Salaries and employee benefits

9,963

10,200

8,909

(237

)

(2.3

)

1,054

11.8

Occupancy and equipment

1,440

1,828

2,042

(388

)

(21.2

)

(602

)

(29.5

)

Data processing

3,042

2,890

2,994

152

5.3

1.6

Professional fees

1,516

1,108

1,088

408

36.8

428

39.3

Payment processing

452

367

932

23.2

(480

)

(51.5

)

Deposit insurance

302

343

780

(41

)

(12.0

)

(478

)

(61.3

)

Marketing and promotions

424

206

310

218

105.8

114

36.8

Telecommunications

(24

)

(24.2

)

(21

)

(21.9

)

Problem loan and foreclosed real estate, net

179

198

194

(19

)

(9.6

)

(15

)

(7.7

)

Other general and administrative

2,108

1,753

2,418

355

20.3

(310

)

(12.8

)

Total non-interest expense

19,501

18,992

19,763

509

2.7

(262

)

(1.3

)

Income before income tax expense

9,473

8,187

5,030

1,286

15.7

4,443

88.3

Income tax expense

2,303

2,191

1,158

112

5.1

1,145

98.9

Net income

7,170

5,996

3,872

1,174

19.6

3,298

85.2

Share data:

Weighted average common shares outstanding, basic

18,577

18,557

N/A

0.1

N/A

Weighted average common shares outstanding, diluted

18,577

18,557

N/A

0.1

N/A

Earnings per share, basic

0.39

0.32

N/A

0.07

21.9

N/A

Earnings per share, diluted

0.39

0.32

N/A

0.07

21.9

N/A

Avidia Bancorp, Inc.

Consolidated Statements of Operations YTD (Unaudited)

Six Months Ended

Six Months Ended June 30, 2026 Change

(Dollars in thousands, except per share data)

June 30, 2026

June 30, 2025

From Six Months Ended June 30, 2025

Interest and dividend income:

Loans, including fees

60,275

57,067

3,208

5.6

Securities

5,421

5,206

215

4.1

Other

1,142

636

506

79.6

Total interest and dividend income

66,838

62,909

3,929

6.2

Interest expense:

Deposits

13,877

14,973

(1,096

)

(7.3

)

Federal Home Loan Bank advances

4,311

7,439

(3,128

)

(42.0

)

Subordinated debt

704

667

5.5

Total interest expense

18,892

23,079

(4,187

)

(18.1

)

Net interest income:

47,946

39,830

8,116

20.4

Provision expense for credit losses - loans

1,604

18,828

(17,224

)

(91.5

)

Provision expense (reversal) for credit losses - off-balance sheet credit exposures

376

(141

)

517

366.7

Total provision expense for credit losses

1,980

18,687

(16,707

)

(89

)

Net interest income, after provision expense for credit losses

45,966

21,143

24,823

117.4

Non-interest income:

Customer service fees

2,256

1,785

471

26.4

Net (loss) on sale of securities available for sale

(619

)

619

100.0

Net write down on premises and equipment no longer in use

(356

)

356

100.0

Payment processing income

4,501

4,271

230

5.4

Income on bank-owned life insurance

648

568

14.1

Mortgage banking income

550

178

372

209.0

Investment commissions

715

662

Other

1,518

2,485

(967

)

(38.9

)

Total non-interest income

10,188

8,974

1,214

13.5

Non-interest expense:

Salaries and employee benefits

20,163

20,475

(312

)

(1.5

)

Occupancy and equipment

3,267

4,060

(793

)

(19.5

)

Data processing

5,933

6,372

(439

)

(6.9

)

Professional fees

2,624

1,749

875

50.0

Payment processing

819

1,975

(1,156

)

(58.5

)

Deposit insurance

645

1,412

(767

)

(54.3

)

Advertising

630

575

9.6

Telecommunications

175

188

(13

)

(6.9

)

Problem loan and foreclosed real estate, net

377

306

23.2

Other general and administrative

3,862

4,484

(622

)

(13.9

)

Total non-interest expense

38,495

41,596

(3,101

)

(7.5

)

Income (loss) before income tax expense

17,659

(11,479

)

29,138

253.8

Income tax expense (benefit)

4,494

(3,764

)

8,258

219.4

Net income (loss)

13,165

(7,715

)

20,880

270.6

Share data:

Weighted average common shares outstanding, basic

18,567

N/A

Weighted average common shares outstanding, diluted

18,567

N/A

Earnings per share, basic

0.71

N/A

Earnings per share, diluted

0.71

N/A

Avidia Bancorp, Inc.

Average Balances and Average Yields And Costs (Unaudited)

For the Quarters Ended

June 30, 2026

March 31, 2026

June 30, 2025

(Dollars in thousands)

Average Outstanding Balance

Interest

Average Yield/Rate

Average Outstanding Balance

Interest

Average Yield/Rate

Average Outstanding Balance

Interest

Average Yield/Rate

Interest-earning assets:

Short-term investments

56,531

400

2.84

111,776

742

2.69

67,357

421

2.51

Securities

323,536

2,877

3.57

297,095

2,544

3.47

296,321

2,555

3.46

Loans

2,258,865

29,961

5.32

2,288,117

30,313

5.37

2,229,893

28,883

5.20

Total interest-earning assets

2,638,932

33,238

5.05

2,696,988

33,599

5.05

2,593,571

31,859

4.93

Noninterest-earning assets

125,864

115,557

122,176

Total assets

2,764,796

2,812,545

2,715,747

Interest-bearing liabilities:

NOW accounts

736,036

1,042

0.57

742,711

993

0.54

697,452

700

0.40

Money market accounts

270,030

860

1.28

260,035

776

1.21

270,969

848

1.26

Regular and other savings accounts

432,822

2,280

2.11

434,329

2,279

2.13

401,215

2,278

2.28

Certificates of deposit

320,871

2,810

3.51

324,646

2,836

3.54

347,419

3,416

3.94

Total interest-bearing deposits

1,759,759

6,992

1.59

1,761,721

6,884

1.58

1,717,055

7,242

1.69

FHLB advances and other borrowings (1)

176,351

1,930

4.39

231,724

2,381

4.17

333,834

3,647

4.38

Subordinated debt

27,857

352

5.07

27,828

352

5.13

27,782

352

5.08

Total interest-bearing liabilities

1,963,967

9,274

1.89

2,021,273

9,617

1.93

2,078,671

11,241

2.17

Noninterest-bearing demand deposits

372,187

369,871

415,035

Other noninterest-bearing liabilities

41,761

39,196

33,242

Total liabilities

2,377,915

2,430,340

2,526,948

Total stockholders' equity

386,881

382,205

188,799

Total liabilities and capital

2,764,796

2,812,545

2,715,747

Net interest income

23,964

23,982

20,618

Net interest rate spread (2)

3.16

3.12

2.76

Net interest-earning assets (3)

674,965

675,715

514,900

Total deposits

2,131,946

2,131,592

Net interest margin (4)

3.64

3.61

3.19

Cost of deposits

1.32

1.31

1.36

Average interest-earning assets to interest-bearing liabilities

134.37

133.43

124.77

(1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet.

(2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities.

(3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.

(4) Net interest margin represents net interest income divided by average total interest-earning assets.

Avidia Bancorp, Inc.

Asset Quality Data (Unaudited)

At or for the Quarters Ended

(Dollars in thousands)

June 30, 2026

March 31, 2026

June 30, 2025

Nonperforming Assets

Nonaccrual loans:

Residential

320

977

255

Commercial real estate

5,952

6,041

Construction

8,930

Commercial

10,642

6,610

2,111

Total nonaccrual loans

16,914

13,628

11,296

Other real estate owned

Total nonperforming assets

16,914

13,628

11,296

Total nonaccrual loans to total loans

0.75

0.60

0.50

Total nonperforming assets to total loans

0.75

0.60

0.50

Allowance for Credit Losses

Allowance for credit losses, beginning of period

22,761

22,018

21,849

Charged-off loans

(75

)

(221

)

(18

)

Recoveries on charged-off loans

495

105

Net loan recoveries (charge-offs)

420

(116

)

Provision expense for credit losses

745

859

1,523

Allowance for credit losses, end of period

23,926

22,761

23,425

Allowance for credit losses to total loans

1.06

1.00

1.04

Allowance for credit losses to nonaccrual loans

141.46

167.02

207.37

Allowance for credit losses to nonperforming loans

141.46

167.02

207.37

Net loan recoveries (charge-offs)

Residential

Commercial real estate

Construction

479

Commercial

(67

)

(154

)

Consumer

(38

)

Total net loan recoveries (charge-offs)

420

(116

)

Net loan recoveries (charge-offs) to average loans (annualized)

0.07

(0.02

)

0.01

Avidia Bancorp, Inc.

Non-GAAP Reconciliation (Unaudited)

As of

(Dollars in thousands, except per share data)

June 30, 2026

March 31, 2026

June 30, 2025

Tangible stockholders' equity:

Total stockholders' equity (GAAP)

389,536

383,521

191,426

Less: Goodwill

11,936

Tangible stockholders' equity (non-GAAP)

377,600

371,585

179,490

Tangible assets:

Total assets (GAAP)

2,780,104

2,807,417

2,957,908

Less: Goodwill

11,936

Tangible assets (non-GAAP)

2,768,168

2,795,481

2,945,972

Average tangible stockholders' equity:

Average total stockholders' equity (GAAP)

386,881

382,205

188,799

Less: Average goodwill

11,936

Average tangible stockholders' equity (non-GAAP)

374,945

370,269

176,863

Stockholders' equity to assets (GAAP)

14.01

13.66

6.47

Tangible stockholders' equity to tangible assets (non-GAAP)

13.64

13.29

6.09

Return on average equity (GAAP)

7.43

6.36

8.20

Return on average tangible common equity (non-GAAP)

7.76

6.57

8.88

Common shares outstanding, including unallocated ESOP shares

20,076

N/A

Book value per common share (GAAP)

19.40

19.10

N/A

Tangible book value per common share (non-GAAP)

18.81

18.51

N/A

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Document And Entity Information

Jul. 23, 2026

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