Avidia Bancorp, Inc. Reports Third Quarter 2026 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 third quarter 2026 net income of $8.6 million, or $0.47 per share, compared to second quarter 2026 net income of $7.2 million, or $0.39 per share.
The Company also announced today the declaration of a quarterly cash dividend of $0.06 per share on its outstanding shares of common stock, payable on or about November 30, 2026, to stockholders of record as of the close of business on November 17, 2026.
CEO Robert Cozzone stated “Quarterly earnings growth benefited from higher loan yields and a lower loan loss provision. Our focus on pricing and operational discipline is resulting in continued improvements in operating leverage and balance sheet structure. During the quarter, we announced a $30 million stock repurchase authorization and commenced repurchases, further supporting stockholder returns.”
THIRD QUARTER 2026 FINANCIAL HIGHLIGHTS (comparisons are to prior quarter)
BALANCE SHEET
Total assets were $2.78 billion at September 30, 2026, which was comparable to June 30, 2026.
REVENUE
Total net revenue increased to $31.2 million in the third quarter of 2026, an increase of $1.3 million, or 4%, compared to the prior quarter.
NON-INTEREST EXPENSE
INCOME TAXES
Income tax expense increased $660 thousand to $3.0 million in the third quarter of 2026 compared to the prior quarter.
ASSET QUALITY
The period-end allowance for credit losses was $23.2 million in the third quarter of 2026 compared to $23.9 million at the prior quarter-end. The ratio of the allowance to total loans decreased to 1.03% from 1.06% for these dates.
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. For more information, please visit https://www.AvidiaBank.com.
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 Form 10-K, and updated by our Quarterly Report on Form 10-Q, and other filings submitted to 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.
$
25,503
$
23,964
$
23,432
5,652
5,902
4,526
31,155
29,866
27,958
19,380
19,501
28,369
211
892
1,540
11,564
9,473
(1,951)
8,601
7,170
(907)
$
0.47
$
0.39
$
(0.05)
0.47
0.39
(0.05)
19.05
19.40
18.53
18.43
18.81
17.94
1.24
%
1.04
%
-0.13
%
8.79
7.43
-1.14
9.06
7.76
-1.18
3.86
3.64
3.43
3.38
3.16
2.91
5.55
5.32
5.21
1.35
1.32
1.32
1.88
1.89
2.06
0.81
0.86
0.64
2.79
2.83
4.02
62.21
65.29
101.47
102.45
104.97
109.39
133.94
134.37
134.52
$
2,775,550
$
2,780,104
$
2,787,010
2,636,812
2,647,488
2,669,662
2,260,822
2,260,543
2,274,747
2,206,649
2,153,608
2,079,578
366,573
389,536
372,037
$
23,190
$
23,926
$
24,284
1.03
%
1.06
%
1.07
%
130.64
141.46
137.79
0.79
0.75
0.77
(0.13)
0.07
(0.11)
0.64
0.61
0.63
13.21
%
14.01
%
13.35
%
12.83
13.64
12.95
19.69
20.20
19.89
17.28
17.79
17.42
13.73
14.19
13.11
(1)
(2)
(3)
(4)
(5)
Avidia Bancorp, Inc.
Consolidated Balance Sheets (Unaudited)
$
18,000
$
19,171
$
15,484
$
(1,171
)
(6.1
)
%
$
2,516
16.2
%
42,300
51,303
96,384
(9,003
)
(17.5
)
(54,084
)
(56.1
)
60,300
70,474
111,868
(10,174
)
(14.4
)
(51,568
)
(46.1
)
313,409
315,091
269,308
(1,682
)
(0.5
)
44,101
16.4
12,500
12,500
15,747
-
0.0
(3,247
)
(20.6
)
325,909
327,591
285,055
(1,682
)
(0.5
)
40,854
14.3
7,001
8,051
11,731
(1,050
)
(13.0
)
(4,730
)
(40.3
)
780
-
1,745
780
-
(965
)
(55.3
)
2,260,822
2,260,543
2,274,747
279
0.0
(13,925
)
(0.6
)
(23,190
)
(23,926
)
(24,284
)
736
(3.1
)
1,094
(4.5
)
2,237,632
2,236,617
2,250,463
1,015
0.0
(12,831
)
(0.6
)
28,951
29,153
29,270
(202
)
(0.7
)
(319
)
(1.1
)
47,722
47,309
36,375
413
0.9
11,347
31.2
8,588
8,700
8,141
(112
)
(1.3
)
447
5.5
14,942
12,842
10,832
2,100
16.4
4,110
37.9
11,936
11,936
11,936
-
-
-
-
3,423
3,168
3,149
255
8.0
274
8.7
28,366
24,263
26,445
4,103
16.9
1,921
7.3
$
2,775,550
$
2,780,104
$
2,787,010
$
(4,554
)
(0.2
)
%
$
(11,460
)
(0.4
)
%
$
2,206,649
$
2,153,608
$
2,079,578
$
53,041
2.5
%
$
127,071
6.1
%
110,000
160,000
260,000
(50,000
)
(31.3
)
(150,000
)
(57.7
)
27,914
27,877
27,778
37
0.1
136
0.5
64,414
49,083
47,617
15,331
31.2
16,797
35.3
$
2,408,977
$
2,390,568
$
2,414,973
$
18,409
0.8
%
$
(5,996
)
(0.2
)
%
$
192
$
201
$
201
$
(9
)
(4.5
)
%
$
(9
)
(4.5
)
%
171,507
195,228
195,029
(23,721
)
(12.2
)
(23,522
)
(12.1
)
(14,656
)
(14,857
)
(15,459
)
201
(1.4
)
803
(5.2
)
230,546
223,138
206,648
7,408
3.3
23,898
11.6
(21,016
)
(14,174
)
(14,382
)
(6,842
)
48.3
(6,634
)
46.1
$
366,573
$
389,536
$
372,037
$
(22,963
)
(5.9
)
%
$
(5,464
)
(1.5
)
%
$
2,775,550
$
2,780,104
$
2,787,010
$
(4,554
)
(0.2
)
%
$
(11,460
)
(0.4
)
%
$
548,079
$
517,975
$
521,606
$
30,104
5.8
%
$
26,473
5.1
%
84,313
82,886
76,027
1,427
1.7
8,286
10.9
536,312
540,209
526,345
(3,897
)
(0.7
)
9,967
1.9
106,403
103,477
98,647
2,926
2.8
7,756
7.9
49,440
45,928
51,311
3,512
7.6
(1,871
)
(3.6
)
1,324,547
1,290,475
1,273,936
34,072
2.6
50,611
4.0
491,868
494,331
498,164
(2,463
)
(0.5
)
(6,296
)
(1.3
)
438,274
469,491
495,263
(31,217
)
(6.6
)
(56,989
)
(11.5
)
—
—
40
—
—
(40
)
(100.0
)
930,142
963,822
993,467
(33,680
)
(3.5
)
(63,325
)
(6.4
)
2,909
3,082
4,274
(173
)
(5.6
)
(1,365
)
(31.9
)
2,909
3,082
4,274
(173
)
(5.6
)
(1,365
)
(31.9
)
2,257,598
2,257,379
2,271,677
219
0.0
(14,079
)
(0.6
)
(23,190
)
(23,926
)
(24,284
)
736
(3.1
)
1,094
(4.5
)
3,224
3,164
3,070
60
1.9
154
5.0
$
2,237,632
$
2,236,617
$
2,250,463
$
1,015
0.0
$
(12,831
)
(0.6
)
%
$
368,961
$
369,282
$
342,867
$
(321
)
(0.1
)
%
$
26,094
7.6
%
743,042
753,470
708,096
(10,428
)
(1.4
)
34,946
4.9
299,215
279,529
278,095
19,686
7.0
21,120
7.6
441,451
432,310
417,010
9,142
2.1
24,441
5.9
331,084
319,017
321,510
12,066
3.8
9,574
3.0
22,896
—
12,000
22,896
-
10,896
90.8
$
2,206,649
$
2,153,608
$
2,079,578
$
53,041
2.5
%
$
127,071
6.1
%
$
31,585
$
29,961
$
29,727
$
1,624
5.4
%
$
1,858
6.3
%
3,016
2,877
2,567
139
4.8
449
17.5
164
400
1,588
(236
)
(59.0
)
(1,424
)
(89.7
)
34,765
33,238
33,882
1,527
4.6
883
2.6
7,313
6,992
7,268
321
4.6
45
0.6
1,594
1,930
2,827
(336
)
(17.4
)
(1,233
)
(43.6
)
355
352
355
3
0.9
-
0.0
9,262
9,274
10,450
(12
)
(0.1
)
(1,188
)
(11.4
)
25,503
23,964
23,432
1,539
6.4
2,071
8.8
19
745
1,480
(726
)
(97.4
)
(1,461
)
(98.7
)
192
147
60
45
30.6
132
220.0
211
892
1,540
(681
)
(76.3
)
(1,329
)
(86.3
)
25,292
23,072
21,892
2,220
9.6
3,400
15.5
1,449
1,338
912
111
8.3
537
58.9
2,152
2,592
1,857
(440
)
(17.0
)
295
15.9
411
379
279
32
8.4
132
47.3
436
287
121
149
51.9
315
260.3
423
359
358
64
17.8
65
18.2
781
947
999
(166
)
(17.5
)
(218
)
(21.8
)
5,652
5,902
4,526
(250
)
(4.2
)
1,126
24.9
10,198
9,963
9,773
235
2.4
425
4.3
1,533
1,440
1,933
93
6.5
(400
)
(20.7
)
3,045
3,042
2,251
3
0.1
794
35.3
1,373
1,516
790
(143
)
(9.4
)
583
73.8
567
452
526
115
25.4
41
7.8
333
302
651
31
10.3
(318
)
(48.8
)
308
424
423
(116
)
(27.4
)
(115
)
(27.2
)
73
75
81
(2
)
(2.7
)
(8
)
(9.9
)
59
179
179
(120
)
(67.0
)
(120
)
(67.0
)
1,891
2,108
11,762
(217
)
(10.3
)
(9,871
)
(83.9
)
19,380
19,501
28,369
(121
)
(0.6
)
(8,989
)
(31.7
)
11,564
9,473
(1,951
)
2,091
22.1
13,515
692.7
2,963
2,303
(1,044
)
660
28.7
4,007
383.8
$
8,601
$
7,170
$
(907
)
$
1,431
20.0
%
$
9,508
1048.3
%
18,247
18,577
18,520
(330
)
(1.8
)
%
(274
)
(1.5
)
%
18,247
18,577
18,520
(330
)
(1.8
)
(274
)
(1.5
)
$
0.47
$
0.39
$
(0.05
)
$
0.08
20.5
$
0.52
1059.7
$
0.47
$
0.39
$
(0.05
)
$
0.08
20.5
$
0.52
1059.7
$
91,860
$
86,791
$
5,069
5.8
%
8,437
7,774
663
8.5
1,306
2,224
(918
)
(41.3
)
101,603
96,789
4,814
5.0
21,189
22,241
(1,052
)
(4.7
)
5,905
10,267
(4,362
)
(42.5
)
1,059
1,021
38
3.7
28,153
33,529
(5,376
)
(16.0
)
73,450
63,260
10,190
16.1
1,623
20,308
(18,685
)
(92.0
)
569
(82
)
651
793.9
2,192
20,226
(18,034
)
(89
)
71,258
43,034
28,224
65.6
3,705
2,697
1,008
37.4
-
(619
)
619
100.0
6,653
6,129
524
8.5
1,059
847
212
25.0
987
299
688
230.1
1,138
1,020
118
11.6
2,298
3,129
(831
)
(26.6
)
15,840
13,502
2,338
17.3
30,361
30,247
114
0.4
4,801
5,994
(1,193
)
(19.9
)
8,977
8,623
354
4.1
3,997
2,539
1,458
57.4
1,386
2,500
(1,114
)
(44.6
)
978
2,064
(1,086
)
(52.6
)
938
998
(60
)
(6.0
)
248
270
(22
)
(8.1
)
436
485
(49
)
(10.1
)
5,753
16,246
(10,493
)
(64.6
)
57,875
69,966
(12,091
)
(17.3
)
29,223
(13,430
)
42,653
317.6
7,458
(4,808
)
12,266
255.1
$
21,765
$
(8,622
)
$
30,387
352.4
%
18,463
18,520
(58
)
(0.3
)
%
18,463
18,520
(58
)
(0.3
)
$
1.18
$
(0.47
)
$
1.64
353.2
$
1.18
$
(0.47
)
$
1.64
353.2
$
33,751
$
164
1.93
%
$
56,531
$
400
2.84
%
$
150,428
$
1,588
4.19
%
332,915
3,016
3.59
323,536
2,877
3.57
292,031
2,567
3.49
2,257,327
31,585
5.55
2,258,865
29,961
5.32
2,264,095
29,727
5.21
2,623,993
34,765
5.26
2,638,932
33,238
5.05
2,706,554
33,882
4.97
128,317
125,864
116,574
$
2,752,310
$
2,764,796
$
2,823,128
$
732,338
$
1,121
0.61
%
$
736,036
$
1,042
0.57
%
$
704,708
$
833
0.47
%
293,575
1,016
1.37
270,030
860
1.28
274,203
918
1.33
432,521
2,314
2.12
432,822
2,280
2.11
411,941
2,407
2.32
325,804
2,859
3.48
320,871
2,810
3.51
322,638
2,958
3.64
249
3
4.78
-
-
0.00
12,000
152
5.03
1,784,487
7,313
1.63
1,759,759
6,992
1.59
1,725,490
7,268
1.67
146,646
1,594
4.31
176,351
1,930
4.39
258,782
2,827
4.33
27,890
355
5.05
27,857
352
5.07
27,753
355
5.07
1,959,023
9,262
1.88
1,963,967
9,274
1.89
2,012,025
10,450
2.06
359,349
372,187
458,900
45,555
41,761
34,777
2,363,927
2,377,915
2,505,702
388,383
386,881
317,426
$
2,752,310
$
2,764,796
$
2,823,128
$
25,503
$
23,964
$
23,432
3.38
%
3.16
%
2.91
%
$
664,970
$
674,965
$
694,529
2,143,836
2,131,946
2,184,390
3.86
%
3.64
%
3.43
%
1.35
%
1.32
%
1.32
%
1.88
%
1.89
%
2.06
%
133.94
%
134.37
%
134.52
%
(1)
(2)
(3)
(4)
(5)
$
701
$
320
$
387
4,935
5,952
-
-
-
8,930
12,115
10,642
8,307
$
17,751
$
16,914
$
17,624
-
-
-
$
17,751
$
16,914
$
17,624
0.79
%
0.75
%
0.77
%
0.79
0.75
0.77
$
23,926
$
22,761
$
23,425
(1,213
)
(75
)
(844
)
458
495
223
(755
)
420
(621
)
19
745
1,480
$
23,190
$
23,926
$
24,284
1.03
%
1.06
%
1.07
%
130.64
141.46
137.79
130.64
141.46
137.79
$
1
$
1
$
2
(960
)
-
135
270
479
-
(71
)
(67
)
(766
)
5
7
8
$
(755
)
$
420
$
(621
)
(0.13
)
%
0.07
%
(0.11
)
%
$
366,573
$
389,536
$
372,037
11,936
11,936
11,936
$
354,637
$
377,600
$
360,101
$
2,775,550
$
2,780,104
$
2,787,010
11,936
11,936
11,936
$
2,763,614
$
2,768,168
$
2,775,074
$
388,383
$
386,881
$
317,426
11,936
11,936
11,936
$
376,447
$
374,945
$
305,490
13.21
%
14.01
%
13.35
%
12.83
%
13.64
%
12.95
%
8.79
%
7.43
%
(1.14
)
%
9.06
%
7.76
%
(1.18
)
%
19,238
20,076
20,076
$
19.05
$
19.40
$
18.53
$
18.43
$
18.81
$
17.94