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Avidia Bancorp, Inc. reported a profitable first quarter of 2026, earning $5.996 million after a loss of $11.587 million a year earlier. The improvement came as credit loss expense on loans fell sharply to $0.859 million from $17.305 million, and net interest income rose to $23.982 million from $19.211 million.
Total assets were $2.807 billion as of March 31, 2026, slightly below $2.837 billion at year-end 2025, while deposits increased to $2.146 billion. Federal Home Loan Bank advances declined to $205 million, and the allowance for credit losses on loans was $22.761 million. Capital levels remained strong, with the bank well above regulatory "well capitalized" thresholds and a common equity Tier 1 ratio of 15.2%. The board also declared a quarterly cash dividend of $0.05 per share.
Avidia Bancorp, Inc. executive Barry H. Jensen, EVP and Chief Administrative Officer, reported an open-market purchase of 1,000 shares of Common Stock. The shares were bought at a price of $20.19 per share on May 8, 2026. After this purchase, Jensen directly holds 41,000 shares. He also has indirect holdings reported as 1,096 shares through an ESOP and 100 shares through an LLC.
Avidia Bancorp, Inc. executive vice president and chief risk officer Nicolas Karmelek reported an open-market purchase of 1,209 shares of common stock at $20.76 per share on April 28, 2026. Following this transaction, his directly held stake increased to 7,694 shares.
The filing also shows indirect ownership of 1,096 shares held through an ESOP and 21,871 shares held through a 401(k) plan, described as transactions not required to be reported under Section 16. No derivative securities are listed as outstanding in this filing.
Avidia Bancorp, Inc. executive Nicolas Karmelek, EVP and Chief Risk Officer, made an open-market purchase of Common Stock. He bought 1,220 shares at $20.76 per share, bringing his direct holdings to 7,705 shares.
The filing also shows indirect holdings of 1,096 shares held by an ESOP and 21,871 shares held in a 401(k) plan. A footnote explains that related plan transactions were not required to be reported under Section 16, indicating these entries primarily update his reported indirect ownership.
Avidia Bancorp, Inc. executive Barry H. Jensen, EVP and Chief Admin Officer, bought 1,000 shares of common stock in an open-market transaction at $20.30 per share. After this purchase, he directly holds 40,000 common shares.
The Form 4 also shows indirect holdings, including 1,096 shares held through an ESOP and 100 shares held through an LLC. A footnote notes these ESOP and LLC entries reflect transactions not required to be reported under Section 16 of the Securities Act of 1934.
Michael Dennis Murphy, Chairman of the Board of Avidia Bancorp, Inc., reported an insider purchase of company stock. On April 28, 2026, an account attributed to his spouse bought 1,850 shares of Avidia Bancorp common stock in an open-market transaction at $20.94 per share, reported as indirect ownership.
After this trade, the filing shows 1,850 shares held indirectly by his spouse, 7,230 shares held indirectly through his spouse's IRA, 20,000 shares held indirectly through an LLC, and 49,000 shares held directly in his own name.
Avidia Bancorp, Inc. executive vice president of human resources Thomas Doane reported an open-market purchase of common stock through a retirement plan. On April 28, 2026, a 401(k) account associated with him bought 2,040 shares of Avidia Bancorp at $21.16 per share.
After this transaction, that 401(k) plan held 17,495 shares of common stock indirectly for him. Separate entries show 1,096 shares held indirectly through an ESOP and 141 shares held directly in his own name, based on the positions reported as of the same date.
Avidia Bancorp, Inc. director James N. Ball reported an open-market purchase of 5,000 shares of common stock on April 27, 2026 at a price of $20.60 per share. The shares are held indirectly through an IRA, bringing his reported indirect holdings to 50,000 shares of Avidia Bancorp common stock.
Avidia Bancorp, Inc. reported first quarter 2026 net income of $6.0 million, or $0.32 per share, up from $5.3 million, or $0.29 per share, in the fourth quarter of 2025. Management highlighted a 10.3% increase in earnings per share driven by profitability discipline.
Net interest margin expanded to 3.61%, the cost of deposits fell to 1.31%, and noninterest income rose 15.3% to $4.3 million. Asset quality improved as nonperforming loans declined to $13.6 million, or 0.60% of total loans, and net charge-offs were minimal. The company declared a $0.05 quarterly cash dividend payable May 28, 2026.
Avidia Bancorp, Inc., the new holding company for Avidia Bank created via a 2025 mutual-to-stock conversion, sold 19,176,250 common shares at $10.00 and formed a charitable foundation and ESOP. At December 31, 2025, it reported $2.84 billion in assets, $2.30 billion in loans, $2.13 billion in deposits, and $379 million in equity.
The loan book is split between real estate (56.4%) and commercial and industrial loans (43.4%), including sizable condominium association, dental practice, and solar plant portfolios. Credit quality weakened in 2025, driven by a $19.2 million charge-off on a high-volatility commercial real estate land loan, pushing net charge-offs to 0.96% of average loans and nonaccrual loans to 0.88% of total loans, while the allowance for credit losses stood at 0.96% of loans.
The bank funds itself largely with core deposits, including Health Savings Accounts and payments-processing-related balances, and supplements liquidity with Federal Home Loan Bank advances. It also generates noninterest income through nationwide payments processing, card issuing and acquiring, and ACH services, while operating as a regulated Massachusetts savings bank under state, FDIC, Federal Reserve, and SEC oversight.