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Avidbank Holdings Inc - AVBH STOCK NEWS

Welcome to our dedicated news page for Avidbank Holdings (Ticker: AVBH), a resource for investors and traders seeking the latest updates and insights on Avidbank Holdings.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Avidbank Holdings's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Avidbank Holdings's position in the market.

News
Avidbank Holdings, Inc. Announces Net Income for the First Quarter of 2024
Rhea-AI Summary
Avidbank Holdings, Inc. reported a strong first quarter of 2024 with net income of $5.2 million, or $0.69 per diluted share, showing significant growth compared to the previous quarters. The company experienced growth in deposits and loans, with a notable increase in service charge and foreign exchange fee income. The net interest margin improved to 3.54%, and credit quality remained strong with no net charge-offs. The company's balance sheet strengthened, with an increase in book value per share and total assets. Overall, Avidbank Holdings, Inc. demonstrated positive financial performance and strategic growth initiatives in the first quarter of 2024.
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Avidbank Holdings, Inc. Announces Net Income for the Fourth Quarter of 2023
Rhea-AI Summary
Avidbank Holdings, Inc. (AVBH) announced a decrease in net income for the fourth quarter of 2023, compared to the previous quarters. The company reported an adjusted net income of $4.9 million, or $0.65 per diluted share for Q4 2023. The highlights include an increase in book value per share, loans, and average deposits, as well as a decrease in nonperforming assets. The company also implemented profitability improvement initiatives, such as selling securities and foreclosed property, reducing staff, and surrendering BOLI policies. The income statement showed an increase in taxable equivalent net interest income, but a decrease in noninterest income. The balance sheet reflected growth in total assets, loans, and shareholders' equity, as well as a decrease in deposits. The company also disclosed a decrease in investment securities and an increase in short-term borrowings.
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-0.05%
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James F. Deutsch Joins Avidbank Holdings, Inc. Board of Directors
Rhea-AI Summary
Avidbank Holdings, Inc. welcomes James Deutsch to its Board of Directors, replacing retiring director Roxy Rapp. Deutsch brings over 40 years of banking experience and is a partner at Patriot Financial Partners. The company also bids farewell to Ms. Henchy Enden, who resigned due to new career requirements.
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-0.05%
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management
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Avidbank Holdings, Inc. Announces Net Income of $5.4 Million for the Third Quarter of 2023
Rhea-AI Summary
Avidbank Holdings, Inc. (OTC Pink:AVBH) reported net income of $5.4 million for Q3 2023, compared to $4.7 million in Q2 2023 and $7.0 million in Q3 2022. Loans increased by $19.6 million (5% annualized) and average deposits increased by $53.4 million (13% annualized). Return on average assets improved to 0.99%. Uninsured deposits represented 35% of total deposits. Nonperforming assets to total assets remained unchanged at 0.70%. The yield on loans increased to 7.04%. The cost of deposits increased to 2.52%. The provision for credit losses decreased to $120,000. Total assets were $2.20 billion. Period end loans were $1.67 billion. The allowance for credit losses on loans was $17.8 million.
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Arthur Wasson Joins Avidbank as Executive Vice President, Treasury Management Services
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-0.05%
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Avidbank Holdings, Inc. Announces Net Income of $4.7 Million for the Second Quarter of 2023
Rhea-AI Summary
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0.27%
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Avidbank Holdings, Inc. Announces Net Income of $6.4 Million for the First Quarter of 2023
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0.86%
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Avidbank Holdings, Inc. Announces Net Income of $8.4 Million for the Fourth Quarter of 2022
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1.96%
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Avidbank Holdings, Inc. Announces Net Income for the Third Quarter of 2022
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-0.62%
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Henchy R. Enden Joins Avidbank Holdings, Inc. Board of Directors
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Rhea-AI Sentiment
End-of-Day
7.91%
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management
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Avidbank Holdings Inc

OTC:AVBH

AVBH Rankings

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AVBH Stock Data

143.74M
3.71M
23.54%
Commercial Banking
Finance and Insurance
Link
US
San Jose