Welcome to our dedicated page for Avidbank news (Ticker: AVBH), a resource for investors and traders seeking the latest updates and insights on Avidbank stock.
Avidbank Holdings, Inc. (NASDAQ: AVBH) is the bank holding company for Avidbank, a California state‑chartered commercial bank headquartered in San Jose, California. Company press releases and SEC filings show that Avidbank focuses on commercial and industrial lending, venture lending, structured finance, asset‑based lending, sponsor finance, fund finance, and real estate construction and commercial real estate lending. The AVBH news stream reflects this commercial banking profile and the company’s role in the finance and insurance sector.
News about Avidbank Holdings frequently includes quarterly and annual financial results, where the company reports on net income, net interest income, net interest margin, loan and deposit trends, asset quality metrics, and the performance of its available‑for‑sale securities portfolio. Releases also describe non‑GAAP measures such as adjusted net income and taxable equivalent net interest margin, which management presents as supplemental views of operating performance.
Investors following AVBH can also see announcements related to capital markets activity, such as the launch, pricing and completion of its initial public offering and the subsequent listing of its common stock on the Nasdaq Global Select Market. Additional news items cover corporate developments, including board appointments, senior management hires in areas like corporate banking, and updates on investor conference calls and webcasts associated with earnings releases.
This AVBH news page aggregates these publicly released updates so readers can review Avidbank’s reported financial performance, lending focus, capital actions and governance‑related disclosures in one place. For investors and observers of commercial banks, the coverage provides insight into how Avidbank describes its lending specialties, balance sheet composition and strategic priorities over time.
Avidbank Holdings (OTC PINK:AVBH) has announced the appointment of Brian Ogle as Senior Vice President, Relationship Manager and Team Leader in their Corporate Banking Division. Ogle brings over 18 years of banking industry experience, specializing in SBA and commercial real estate lending.
Previously serving as a Relationship Manager at Heritage Bank of Commerce, Ogle started his career at Bank of the Cascades in Oregon before moving to California eight years ago. He currently serves on the loan committee of California Coastal Rural Development , a nonprofit supporting local business community access to financial solutions.
Sarah Wesner, SVP and Division Manager of Corporate Banking, highlighted that Ogle's technical expertise and character will positively impact the division. Avidbank, headquartered in San Jose, California, specializes in commercial & industrial lending, venture lending, structured finance, asset-based lending, sponsor finance, fund finance, and real estate construction and commercial real estate lending.
Avidbank Holdings, Inc. (OTC PINK:AVBH) reported net income of $5.8 million for the third quarter of 2024, or $0.77 per diluted share. This represents an increase from both the previous quarter and the same period last year. Key highlights include:
- Return on average assets improved to 1.02%
- Book value per share increased by 10% to $23.95
- Loan to deposit ratio improved to 94.0%
- Period end deposits increased by $163.0 million, or 38% annualized
- Consolidated total risk-based capital improved to 12.92%
The company made progress in strengthening its balance sheet, with strong growth in core deposits and improved capital ratios. Loan growth was slightly impacted by decreased new originations and increased payoffs. The provision for credit losses decreased significantly compared to the previous quarter.
Avidbank Holdings (OTC Pink: AVBH) reported net income of $3.5 million for Q2 2024, down from $5.2 million in Q1 2024 and $4.7 million in Q2 2023. Key highlights include:
- Book value per share increased 2% to $21.77
- Loans grew 5% annualized to $1.81 billion
- Average deposits rose 8% annualized
- Efficiency ratio improved to 59.92%
- Net charge-offs remained at 0%
The decrease in net income was primarily due to a $3.0 million increase in credit loss provisions. Despite this, the bank reported solid progress in strengthening its balance sheet, with core deposit growth outpacing loan growth. Credit quality remains strong, with criticized and classified loans at 2.0% of total loans.
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Avidbank Holdings, Inc. (OTC PINK:AVBH) reported a net income of $6.4 million for Q1 2023, down from $8.4 million in Q4 2022 but up from $4.3 million in Q1 2022. Operating net income was $7.0 million. Book value per share rose to $19.57, while return on average assets dropped to 1.19%.
Total deposits fell by 11%, amounting to $1.62 billion. The bank took steps to bolster liquidity, including increased borrowing capacity and selling securities for a loss of $815,000. Loan growth was notable with a 30% year-over-year increase, totaling $1.56 billion. The net interest margin experienced a decrease to 3.92%. The CEO expressed confidence in Avidbank's resilience amidst industry volatility.
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