{"success":true,"data":{"pressRelease":{"id":"177811","rtpr_id":"nBw3Y5GzPa-20261022","ticker":"AVBC","exchange":"NYSE","all_tickers":["AVBC"],"title":"Avidia Bancorp, Inc. Reports Third Quarter 2026 Financial Results, Declares Quarterly Cash Dividend","author":"Business Wire","published_at":"2026-10-22T20:30:01.059Z","article_body":"Avidia Bancorp, Inc. Reports Third Quarter 2026 Financial Results, Declares\nQuarterly Cash Dividend\n\nAvidia Bancorp, Inc.\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Finvestors.avidiabank.com%2Foverview%2Fdefault.aspx&esheet=54627282&newsitemid=20261022095052&lan=en-US&anchor=Avidia+Bancorp%2C+Inc.&index=1&md5=9a8e85a10369c236c55d7675ced917b4)\n(the “Company”) (NYSE: “AVBC”), the holding company of Avidia Bank,\ntoday reported third quarter 2026 net income of $8.6 million, or $0.47 per\nshare, compared to second quarter 2026 net income of $7.2 million, or $0.39\nper share.\n\nThe Company also announced today the declaration of a quarterly cash dividend\nof $0.06 per share on its outstanding shares of common stock, payable on or\nabout November 30, 2026, to stockholders of record as of the close of business\non November 17, 2026.\n\nCEO Robert Cozzone stated “Quarterly earnings growth benefited from higher\nloan yields and a lower loan loss provision. Our focus on pricing and\noperational discipline is resulting in continued improvements in operating\nleverage and balance sheet structure. During the quarter, we announced a $30\nmillion stock repurchase authorization and commenced repurchases, further\nsupporting stockholder returns.”\n\nTHIRD QUARTER 2026 FINANCIAL HIGHLIGHTS (comparisons are to prior quarter)\n\n\n * Net interest margin increased by 22 basis points to 3.86%, which included an\n11 basis point benefit from a large loan prepayment penalty received.\n\n * Return on assets increased by 20 basis points to 1.24%.\n\n * Return on equity increased by 136 basis points to 8.79%.\n\n * Efficiency ratio improved to 62.2% from 65.3%.\n\n * Share repurchases of $23.8 million were completed as of September 30, equal to\n6.1% of the previous quarter’s stockholders’ equity.\n\nBALANCE SHEET\n\nTotal assets were $2.78 billion at September 30, 2026, which was comparable to\nJune 30, 2026.\n\n\n * Short-term investments decreased by $9.0 million to $42.3 million as excess\ncash was used to pay down wholesale borrowings and for the share repurchases.\n\n * Total investment securities decreased by $1.7 million from June 30, to $325.9\nmillion.\n\n * Total loans were $2.26 billion, which was comparable to June 30.\n\n\n* Residential mortgages increased by $30.1 million due primarily to the $21.3\nmillion purchase of in-market, adjustable-rate mortgage loans from a local\ncorrespondent bank.\n\n * Commercial & industrial loans decreased $31.2 million due primarily to the\nimpact of loan prepayments, including a $23.0 million solar loan that had\nthree years remaining to maturity.\n\n * Quarter-end loan exposure related to non-medical office space was $90.6\nmillion, or 4% of gross loans. When excluding owner-occupied, total\nnon-medical office exposure was $72.6 million.\n\n\n\n\n * Deposits grew by $53.0 million, or 2.5% for the quarter, to $2.21 billion.\n\n\n* Brokered certificates of deposit in the amount of $22.9 million were\npurchased.\n\n * Money market accounts increased by $19.7 million due to solid growth from\nbusiness customers.\n\n * Certificates of deposit increased by $12.1 million.\n\n * Lower cost transaction accounts (demand and NOW) were 50% of period-end total\ndeposits.\n\n\n\n\n * Federal Home Loan Bank advances decreased by $50.0 million to $110.0 million.\n\n * Total stockholders’ equity decreased by $23.0 million, or 5.9%, to $366.6\nmillion. Stockholders’ equity to total assets was 13.2% at quarter-end.\nTangible stockholders' equity to tangible assets (non-GAAP) was 12.8%.\n\n\n* The Company recorded $23.8 million for the repurchase of 1,079,051 shares\n(5.4% of outstanding shares).\n\n * Accumulated other comprehensive loss increased by $6.8 million because higher\nmarket interest rates reduced the value of the available for sale investment\nportfolio.\n\n * Pursuant to an equity compensation plan approved by stockholders in the third\nquarter, five-year vesting director equity compensation grants were awarded\nconsisting of 240,912 shares of restricted stock valued at $22.29 per share\nand 602,280 stock options valued at $7.78 per option.\n\n * On October 13, 2026, management equity grants with 5- or 6-year vesting were\nawarded consisting of 489,500 shares of restricted stock valued at $21.95 per\nshare and 1,187,000 stock options with an average value of $7.65 per option.\nThese values are not included in the consolidated financial statements as of\nSeptember 30, 2026.\n\n\n\n\nREVENUE\n\nTotal net revenue increased to $31.2 million in the third quarter of 2026, an\nincrease of $1.3 million, or 4%, compared to the prior quarter.\n\n\n * Third quarter 2026 net interest income increased $1.5 million due to higher\ninterest rates across most loan categories. The net interest margin improved\nby 22 basis points to 3.86%, which included a large $692 thousand loan\nprepayment penalty received from the prepayment of the large solar loan\nmentioned above. The net interest margin excluding the prepayment penalty is\n3.75%, up 11 basis points from the second quarter.\n\n\n* Average earning assets totaled $2.6 billion, which remained steady from the\nprior quarter.\n\n * The yield on earning assets increased 21 basis points to 5.26%. The 5.55% loan\nyield included the $692 thousand in prepayment penalties, which contributed 12\nbasis points to the loan yield.\n\n * The cost of interest-bearing liabilities decreased 1 basis point to 1.88%, as\nthe benefit from lower cost borrowings was partially offset by a 3 basis point\nincrease in the cost of deposits to 1.35%.\n\n\n\n\n * Non-interest income decreased by $250 thousand, primarily because payments\nprocessing income declined from the prior quarter, when it was elevated by\ncontract termination fees.\n\n * Mortgage banking income increased $149 thousand, or 51.9%, primarily driven by\na higher quarterly MSR valuation.\n\nNON-INTEREST EXPENSE\n\n\n * Total non-interest expense decreased $121 thousand, or 1%, to $19.4 million in\nthe third quarter of 2026.\n\n\n* Salaries and benefits increased $235 thousand, or 2%, including $77 thousand\nfrom the expense related to the new stock grants issued.\n\n * Modest decreases were recorded across many of the other expense categories.\n\n\n\n\nINCOME TAXES\n\nIncome tax expense increased $660 thousand to $3.0 million in the third\nquarter of 2026 compared to the prior quarter.\n\n\n * The effective income tax rate was 25.6% for the third quarter and 25.5%\nyear-to-date.\n\nASSET QUALITY\n\nThe period-end allowance for credit losses was $23.2 million in the third\nquarter of 2026 compared to $23.9 million at the prior quarter-end. The ratio\nof the allowance to total loans decreased to 1.03% from 1.06% for these dates.\n\n\n * Provision expense for credit losses decreased $681 thousand to $211 thousand\nin the third quarter of 2026.\n\n * The Company recorded net loan charge-offs of $755 thousand in the third\nquarter of 2026, measuring 0.13% of average loans on an annualized basis.\n\n * Nonaccruing loans were $17.8 million, or 0.79% of total loans, at period-end,\ncompared to $16.9 million, or 0.75% of total loans, at the prior quarter-end.\n\nABOUT AVIDIA BANCORP, INC.\n\nAvidia Bancorp, Inc. is the bank holding company of Avidia Bank. Avidia Bank\nis a Massachusetts-chartered stock savings bank. With headquarters in Hudson,\nMassachusetts, it also operates nine full-service banking offices in western\nMiddlesex County and eastern Worcester County, in Massachusetts. For more\ninformation, please visit https://www.AvidiaBank.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.avidiabank.com&esheet=54627282&newsitemid=20261022095052&lan=en-US&anchor=https%3A%2F%2Fwww.AvidiaBank.com&index=2&md5=a8afa52877f8f688ca172b381969eb8e)\n.\n\nNON-GAAP FINANCIAL MEASURES\n\nThis document contains certain non-GAAP financial measures in addition to\nresults presented in accordance with U.S. Generally Accepted Accounting\nPrinciples (“GAAP”). These non-GAAP measures are intended to provide the\nreader with additional supplemental perspectives on operating results,\nperformance trends, and financial condition. Non-GAAP financial measures are\nnot a substitute for GAAP measures; they should be read and used in\nconjunction with the Company’s GAAP financial information. A reconciliation\nof non-GAAP financial measures to GAAP measures is provided at the end of this\ndocument. In all cases, it should be understood that non-GAAP measures do not\ndepict amounts that accrue directly to the benefit of shareholders. An item\nwhich management excludes when computing non-GAAP operating earnings can be of\nsubstantial importance to the Company’s results for any particular quarter\nor year. The Company’s non-GAAP operating earnings information set forth is\nnot necessarily comparable to non-GAAP information which may be presented by\nother companies. Each non-GAAP measure used by the Company in this document as\nsupplemental financial data should be considered in conjunction with the\nCompany’s GAAP financial information. The Company adjusts certain equity\nrelated measures to exclude intangible assets due to the importance of these\nmeasures to the investment community.\n\nFORWARD-LOOKING STATEMENTS\n\nStatements contained in this press release that are not historical facts are\nforward-looking statements within the meaning of Section 27A of the Securities\nAct of 1933, as amended, and Section 21E of the Securities Exchange Act of\n1934, as amended, and are intended to be covered by the safe harbor provisions\nof the Private Securities Litigation Reform Act of 1995. You can identify\nforward-looking statements by use of the words \"believe,\" \"expect,\"\n\"anticipate,\" \"intend,\" \"estimate,\" \"assume,\" \"outlook,\" \"will,\" \"should,\" and\nother similar expressions which do not relate to historical matters. Although\nwe believe that these forward-looking statements are based on reasonable\nestimates and assumptions, they are not guarantees of future performance. You\nshould not place undue reliance on forward-looking statements because they are\nsubject to significant risks, uncertainties and other factors which are, in\nsome cases, beyond our control. Our actual results could differ materially\nfrom those presented in the forward-looking statements as a result of, among\nother factors, changes in general business and economic conditions nationwide\nand in our local markets, including changes which adversely affect borrowers'\nability to service and repay loans; changes in customer behavior due to\npolitical, business and economic conditions, including inflation; conditions\nin the capital and debt markets; reductions in net interest income resulting\nfrom interest rate volatility and changes in the balances and mix of our loans\nand deposits; changes in market interest rates and real estate values;\ndecreases in the value of securities and other assets or in deposit levels\nnecessitating increased borrowing to fund loans and investments; competition\nfrom other financial institutions; changes in legislation or regulation and\naccounting principles, policies and guidelines; cybersecurity incidents;\nfraud; natural disasters; the risk that we may be unsuccessful in implementing\nour business strategy; and the other risks and uncertainties disclosed in\nAvidia Bancorp, Inc.’s Form 10-K, and updated by our Quarterly Report on\nForm 10-Q, and other filings submitted to the U.S. Securities and Exchange\nCommission. Forward looking statements speak only as of the date of this\nrelease, and we do not undertake any obligation to update or revise any of\nthem to reflect events or circumstances occurring after the date of this\nrelease or to reflect the occurrence of unanticipated events, except as may be\nrequired by applicable law or regulation.\n   \n Avidia Bancorp, Inc. \n Selected Consolidated Financial Highlights (Unaudited) \n   \n At or for the Quarters Ended \n (Dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 \n Earnings Data: \n Net interest income $ 25,503 $ 23,964 $ 23,432 \n Total non-interest income   5,652   5,902   4,526 \n Total net revenue   31,155   29,866   27,958 \n Total non-interest expense   19,380   19,501   28,369 \n Provision for credit losses   211   892   1,540 \n Income (loss) before income tax expense   11,564   9,473   (1,951) \n Net income (loss)   8,601   7,170   (907) \n   \n Per-Share Data: \n Earnings (loss) per share, basic $ 0.47 $ 0.39 $ (0.05) \n Earnings (loss) per share, diluted   0.47   0.39   (0.05) \n Book value per share   19.05   19.40   18.53 \n Tangible book value per share (non-GAAP)((1))   18.43   18.81   17.94 \n   \n Performance Ratios: \n Return on average assets (annualized)   1.24 %   1.04 %   -0.13 % \n Return on average equity (annualized)   8.79   7.43   -1.14 \n Return on average tangible common equity (non-GAAP)((1))   9.06   7.76   -1.18 \n Net interest margin((2))   3.86   3.64   3.43 \n Interest rate spread ((3))   3.38   3.16   2.91 \n Yield on loans   5.55   5.32   5.21 \n Cost of deposits   1.35   1.32   1.32 \n Cost of funds   1.88   1.89   2.06 \n Non-interest income as a percentage of average assets   0.81   0.86   0.64 \n Non-interest expense as a percentage of average assets   2.79   2.83   4.02 \n Efficiency ratio((4))   62.21   65.29   101.47 \n Total loans as a percentage of total deposits   102.45   104.97   109.39 \n Average interest-earning assets as a percentage of average interest-bearing liabilities   133.94   134.37   134.52 \n   \n Balance Sheet, (end of period): \n Total assets $ 2,775,550 $ 2,780,104 $ 2,787,010 \n Total earning assets   2,636,812   2,647,488   2,669,662 \n Total loans   2,260,822   2,260,543   2,274,747 \n Total deposits   2,206,649   2,153,608   2,079,578 \n Total stockholders' equity   366,573   389,536   372,037 \n   \n Asset Quality: \n Allowance for credit losses $ 23,190 $ 23,926 $ 24,284 \n Allowance for credit losses as a percentage of total loans   1.03 %   1.06 %   1.07 % \n Allowance for credit losses as a percentage of nonperforming loans   130.64   141.46   137.79 \n Nonaccrual loans as a percentage of total loans   0.79   0.75   0.77 \n Net loan (charge-offs) recoveries as a percentage of average loans (annualized)   (0.13)   0.07   (0.11) \n Total nonperforming assets as a percentage of total assets   0.64   0.61   0.63 \n   \n Capital Ratios: \n Total stockholders' equity as a percentage of total assets   13.21 %   14.01 %   13.35 % \n Tangible stockholders' equity as a percentage of tangible assets (non-GAAP)((1))   12.83   13.64   12.95 \n Total capital as a percentage of risk-weighted assets ((5))   19.69   20.20   19.89 \n Common equity tier 1 capital as a percentage of risk-weighted assets ((5))   17.28   17.79   17.42 \n Tier 1 capital as a percentage of average assets ((5))   13.73   14.19   13.11 \n   \n\n (1) Reconciliation of non-GAAP financial measures appears on page 12. \n (2) Represents net interest income as a percentage of average interest-earning assets. \n (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. \n (4) Represents non-interest expenses divided by the sum of net interest income and non-interest income. \n (5) Presented as projected for September 30, 2026 and actual for the remaining dates. \n\n \n Avidia Bancorp, Inc. \n Consolidated Balance Sheets (Unaudited) \n   \n As of September 30, 2026 Change From \n (Dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 June 30, 2026 September 30, 2025 \n Assets \n   \n Cash and due from banks $ 18,000   $ 19,171   $ 15,484   $ (1,171 ) (6.1 ) % $ 2,516   16.2   % \n Short-term investments   42,300     51,303     96,384     (9,003 ) (17.5 )   (54,084 ) (56.1 ) \n Total cash and cash equivalents   60,300     70,474     111,868     (10,174 ) (14.4 )   (51,568 ) (46.1 ) \n   \n Securities available for sale, at fair value   313,409     315,091     269,308     (1,682 ) (0.5 )   44,101   16.4   \n Securities held to maturity, at amortized cost   12,500     12,500     15,747     -   0.0     (3,247 ) (20.6 ) \n Total securities   325,909     327,591     285,055     (1,682 ) (0.5 )   40,854   14.3   \n   \n Federal Home Loan Bank stock, at cost   7,001     8,051     11,731     (1,050 ) (13.0 )   (4,730 ) (40.3 ) \n   \n Loans held for sale   780     -     1,745     780   -     (965 ) (55.3 ) \n   \n Total loans   2,260,822     2,260,543     2,274,747     279   0.0     (13,925 ) (0.6 ) \n Less: Allowance for credit losses   (23,190 )   (23,926 )   (24,284 )   736   (3.1 )   1,094   (4.5 ) \n Net loans   2,237,632     2,236,617     2,250,463     1,015   0.0     (12,831 ) (0.6 ) \n   \n Premises and equipment, net   28,951     29,153     29,270     (202 ) (0.7 )   (319 ) (1.1 ) \n Bank-owned life insurance   47,722     47,309     36,375     413   0.9     11,347   31.2   \n Accrued interest receivable   8,588     8,700     8,141     (112 ) (1.3 )   447   5.5   \n Net deferred tax asset   14,942     12,842     10,832     2,100   16.4     4,110   37.9   \n Goodwill   11,936     11,936     11,936     -   -     -   -   \n Mortgage servicing rights   3,423     3,168     3,149     255   8.0     274   8.7   \n Other assets   28,366     24,263     26,445     4,103   16.9     1,921   7.3   \n Total assets $ 2,775,550   $ 2,780,104   $ 2,787,010   $ (4,554 ) (0.2 ) % $ (11,460 ) (0.4 ) % \n   \n Liabilities \n Deposits $ 2,206,649   $ 2,153,608   $ 2,079,578   $ 53,041   2.5   % $ 127,071   6.1   % \n Federal Home Loan Bank advances   110,000     160,000     260,000     (50,000 ) (31.3 )   (150,000 ) (57.7 ) \n Subordinated debt   27,914     27,877     27,778     37   0.1     136   0.5   \n Accrued expenses and other liabilities   64,414     49,083     47,617     15,331   31.2     16,797   35.3   \n Total liabilities $ 2,408,977   $ 2,390,568   $ 2,414,973   $ 18,409   0.8   % $ (5,996 ) (0.2 ) % \n   \n Stockholders' equity: \n Common Stock $ 192   $ 201   $ 201   $ (9 ) (4.5 ) % $ (9 ) (4.5 ) % \n Additional paid-in capital   171,507     195,228     195,029     (23,721 ) (12.2 )   (23,522 ) (12.1 ) \n Unallocated ESOP common stock   (14,656 )   (14,857 )   (15,459 )   201   (1.4 )   803   (5.2 ) \n Retained earnings   230,546     223,138     206,648     7,408   3.3     23,898   11.6   \n Accumulated other comprehensive loss   (21,016 )   (14,174 )   (14,382 )   (6,842 ) 48.3     (6,634 ) 46.1   \n Total stockholders' equity $ 366,573   $ 389,536   $ 372,037   $ (22,963 ) (5.9 ) % $ (5,464 ) (1.5 ) % \n   \n Total liabilities and stockholders' equity $ 2,775,550   $ 2,780,104   $ 2,787,010   $ (4,554 ) (0.2 ) % $ (11,460 ) (0.4 ) % \n   \n\n \n Avidia Bancorp, Inc. \n Consolidated Loan and Deposit Analysis (Unaudited) \n   \n Loan Analysis \n   \n As of September 30, 2026 Change From \n (Dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 June 30, 2026 September 30, 2025 \n Real estate loans \n One to four family residential $ 548,079   $ 517,975   $ 521,606   $ 30,104   5.8   % $ 26,473   5.1   % \n Home equity and second mortgages   84,313     82,886     76,027     1,427   1.7     8,286   10.9   \n Commercial real estate   536,312     540,209     526,345     (3,897 ) (0.7 )   9,967   1.9   \n Commercial real estate multifamily   106,403     103,477     98,647     2,926   2.8     7,756   7.9   \n Construction & land   49,440     45,928     51,311     3,512   7.6     (1,871 ) (3.6 ) \n Total real estate loans   1,324,547     1,290,475     1,273,936     34,072   2.6     50,611   4.0   \n Commercial loans \n Condominium associations   491,868     494,331     498,164     (2,463 ) (0.5 )   (6,296 ) (1.3 ) \n Commercial & industrial   438,274     469,491     495,263     (31,217 ) (6.6 )   (56,989 ) (11.5 ) \n PPP loans   —     —     40     —   —     (40 ) (100.0 ) \n Total commercial loans   930,142     963,822     993,467     (33,680 ) (3.5 )   (63,325 ) (6.4 ) \n Consumer loans \n Consumer   2,909     3,082     4,274     (173 ) (5.6 )   (1,365 ) (31.9 ) \n Total consumer loans   2,909     3,082     4,274     (173 ) (5.6 )   (1,365 ) (31.9 ) \n Total loans   2,257,598     2,257,379     2,271,677     219   0.0     (14,079 ) (0.6 ) \n Allowance for credit losses   (23,190 )   (23,926 )   (24,284 )   736   (3.1 )   1,094   (4.5 ) \n Net deferred loan costs   3,224     3,164     3,070     60   1.9     154   5.0   \n Loans, net $ 2,237,632   $ 2,236,617   $ 2,250,463   $ 1,015   0.0   $ (12,831 ) (0.6 ) % \n   \n   \n Deposit Analysis \n   \n As of September 30, 2026 Change From \n (Dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 June 30, 2026 September 30, 2025 \n Non-interest-bearing demand $ 368,961   $ 369,282   $ 342,867   $ (321 ) (0.1 ) % $ 26,094   7.6   % \n NOW   743,042     753,470     708,096     (10,428 ) (1.4 )   34,946   4.9   \n Money market   299,215     279,529     278,095     19,686   7.0     21,120   7.6   \n Savings   441,451     432,310     417,010     9,142   2.1     24,441   5.9   \n Certificates of deposit   331,084     319,017     321,510     12,066   3.8     9,574   3.0   \n Brokered certificates of deposit   22,896     —     12,000     22,896   -     10,896   90.8   \n Total deposits $ 2,206,649   $ 2,153,608   $ 2,079,578   $ 53,041   2.5   % $ 127,071   6.1   % \n   \n\n \n Avidia Bancorp, Inc. \n Consolidated Statements of Operations QTD (Unaudited) \n   \n Three Months Ended September 30, 2026 Change \n Three Months Ended From Three Months Ended \n (Dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 June 30, 2026 September 30, 2025 \n Interest and dividend income \n Loans, including fees $ 31,585 $ 29,961 $ 29,727   $ 1,624   5.4   % $ 1,858   6.3   % \n Securities   3,016   2,877   2,567     139   4.8     449   17.5   \n Other   164   400   1,588     (236 ) (59.0 )   (1,424 ) (89.7 ) \n Total interest and dividend income   34,765   33,238   33,882     1,527   4.6     883   2.6   \n   \n Interest expense \n Deposits   7,313   6,992   7,268     321   4.6     45   0.6   \n Federal Home Loan Bank advances   1,594   1,930   2,827     (336 ) (17.4 )   (1,233 ) (43.6 ) \n Subordinated debt   355   352   355     3   0.9     -   0.0   \n Total interest expense   9,262   9,274   10,450     (12 ) (0.1 )   (1,188 ) (11.4 ) \n   \n Net interest income   25,503   23,964   23,432     1,539   6.4     2,071   8.8   \n Provision expense for credit losses - loans   19   745   1,480     (726 ) (97.4 )   (1,461 ) (98.7 ) \n Provision expense for credit losses - off-balance sheet credit exposures   192   147   60     45   30.6     132   220.0   \n Total provision expense for credit losses   211   892   1,540     (681 ) (76.3 )   (1,329 ) (86.3 ) \n Net interest income, after provision expense for credit losses   25,292   23,072   21,892     2,220   9.6     3,400   15.5   \n   \n Non-interest income: \n Customer service fees   1,449   1,338   912     111   8.3     537   58.9   \n Payments processing income   2,152   2,592   1,857     (440 ) (17.0 )   295   15.9   \n Income on bank-owned life insurance   411   379   279     32   8.4     132   47.3   \n Mortgage banking income   436   287   121     149   51.9     315   260.3   \n Investment commissions   423   359   358     64   17.8     65   18.2   \n Other   781   947   999     (166 ) (17.5 )   (218 ) (21.8 ) \n Total non-interest income   5,652   5,902   4,526     (250 ) (4.2 )   1,126   24.9   \n   \n Non-interest expense: \n Salaries and employee benefits   10,198   9,963   9,773     235   2.4     425   4.3   \n Occupancy and equipment   1,533   1,440   1,933     93   6.5     (400 ) (20.7 ) \n Data processing   3,045   3,042   2,251     3   0.1     794   35.3   \n Professional fees   1,373   1,516   790     (143 ) (9.4 )   583   73.8   \n Payments processing   567   452   526     115   25.4     41   7.8   \n Deposit insurance   333   302   651     31   10.3     (318 ) (48.8 ) \n Marketing and promotions   308   424   423     (116 ) (27.4 )   (115 ) (27.2 ) \n Telecommunications   73   75   81     (2 ) (2.7 )   (8 ) (9.9 ) \n Problem loan and foreclosed real estate, net   59   179   179     (120 ) (67.0 )   (120 ) (67.0 ) \n Other general and administrative   1,891   2,108   11,762     (217 ) (10.3 )   (9,871 ) (83.9 ) \n Total non-interest expense   19,380   19,501   28,369     (121 ) (0.6 )   (8,989 ) (31.7 ) \n   \n Income (loss) before income tax expense   11,564   9,473   (1,951 )   2,091   22.1     13,515   692.7   \n Income tax expense (benefit)   2,963   2,303   (1,044 )   660   28.7     4,007   383.8   \n Net income (loss) $ 8,601 $ 7,170 $ (907 ) $ 1,431   20.0   % $ 9,508   1048.3   % \n   \n Share data: \n Weighted average common shares outstanding, basic   18,247   18,577   18,520     (330 ) (1.8 ) %   (274 ) (1.5 ) % \n Weighted average common shares outstanding, diluted   18,247   18,577   18,520     (330 ) (1.8 )   (274 ) (1.5 ) \n Earnings (loss) per share, basic $ 0.47 $ 0.39 $ (0.05 ) $ 0.08   20.5   $ 0.52   1059.7   \n Earnings (loss) per share, diluted $ 0.47 $ 0.39 $ (0.05 ) $ 0.08   20.5   $ 0.52   1059.7   \n   \n   \n\n Avidia Bancorp, Inc. \n Consolidated Statements of Operations YTD (Unaudited) \n   \n Nine Months Ended Nine Months Ended Sep. 30, 2026 Change \n (Dollars in thousands, except per share data) Sep. 30, 2026 Sep. 30, 2025 From Nine Months Ended Sep. 30, 2025 \n Interest and dividend income: \n Loans, including fees $ 91,860 $ 86,791   $ 5,069   5.8   % \n Securities   8,437   7,774     663   8.5   \n Other   1,306   2,224     (918 ) (41.3 ) \n Total interest and dividend income   101,603   96,789     4,814   5.0   \n   \n Interest expense: \n Deposits   21,189   22,241     (1,052 ) (4.7 ) \n Federal Home Loan Bank advances   5,905   10,267     (4,362 ) (42.5 ) \n Subordinated debt   1,059   1,021     38   3.7   \n Total interest expense   28,153   33,529     (5,376 ) (16.0 ) \n   \n Net interest income:   73,450   63,260     10,190   16.1   \n Provision expense for credit losses - loans   1,623   20,308     (18,685 ) (92.0 ) \n Provision expense (reversal) for credit losses - off-balance sheet credit exposures   569   (82 )   651   793.9   \n Total provision expense for credit losses   2,192   20,226     (18,034 ) (89 ) \n Net interest income, after provision expense for credit losses   71,258   43,034     28,224   65.6   \n   \n Non-interest income: \n Customer service fees   3,705   2,697     1,008   37.4   \n Net (loss) on sale of securities available for sale   -   (619 )   619   100.0   \n Payments processing income   6,653   6,129     524   8.5   \n Income on bank-owned life insurance   1,059   847     212   25.0   \n Mortgage banking income   987   299     688   230.1   \n Investment commissions   1,138   1,020     118   11.6   \n Other   2,298   3,129     (831 ) (26.6 ) \n Total non-interest income   15,840   13,502     2,338   17.3   \n   \n Non-interest expense: \n Salaries and employee benefits   30,361   30,247     114   0.4   \n Occupancy and equipment   4,801   5,994     (1,193 ) (19.9 ) \n Data processing   8,977   8,623     354   4.1   \n Professional fees   3,997   2,539     1,458   57.4   \n Payments processing   1,386   2,500     (1,114 ) (44.6 ) \n Deposit insurance   978   2,064     (1,086 ) (52.6 ) \n Advertising   938   998     (60 ) (6.0 ) \n Telecommunications   248   270     (22 ) (8.1 ) \n Problem loan and foreclosed real estate, net   436   485     (49 ) (10.1 ) \n Other general and administrative   5,753   16,246     (10,493 ) (64.6 ) \n Total non-interest expense   57,875   69,966     (12,091 ) (17.3 ) \n   \n Income (loss) before income tax expense   29,223   (13,430 )   42,653   317.6   \n Income tax expense (benefit)   7,458   (4,808 )   12,266   255.1   \n Net income (loss) $ 21,765 $ (8,622 ) $ 30,387   352.4   % \n   \n Share data: \n Weighted average common shares outstanding, basic   18,463   18,520     (58 ) (0.3 ) % \n Weighted average common shares outstanding, diluted   18,463   18,520     (58 ) (0.3 ) \n Earnings (loss) per share, basic $ 1.18 $ (0.47 ) $ 1.64   353.2   \n Earnings (loss) per share, diluted $ 1.18 $ (0.47 ) $ 1.64   353.2   \n\n \n Avidia Bancorp, Inc. \n Average Balances and Average Yields And Costs (Unaudited) \n   \n For the Quarters Ended \n September 30, 2026 June 30, 2026 September 30, 2025 \n (Dollars in thousands) Average Outstanding Balance Interest Average Yield/Rate Average Outstanding Balance Interest Average Yield/Rate Average Outstanding Balance Interest Average Yield/Rate \n Interest-earning assets: \n Short-term investments $ 33,751 $ 164 1.93 % $ 56,531 $ 400 2.84 % $ 150,428 $ 1,588 4.19 % \n Securities   332,915   3,016 3.59   323,536   2,877 3.57   292,031   2,567 3.49 \n Loans ((1))   2,257,327   31,585 5.55   2,258,865   29,961 5.32   2,264,095   29,727 5.21 \n Total interest-earning assets   2,623,993   34,765 5.26   2,638,932   33,238 5.05   2,706,554   33,882 4.97 \n Non-interest-earning assets   128,317   125,864   116,574 \n Total assets $ 2,752,310 $ 2,764,796 $ 2,823,128 \n   \n Interest-bearing liabilities: \n NOW accounts $ 732,338 $ 1,121 0.61 % $ 736,036 $ 1,042 0.57 % $ 704,708 $ 833 0.47 % \n Money market accounts   293,575   1,016 1.37   270,030   860 1.28   274,203   918 1.33 \n Regular and other savings accounts   432,521   2,314 2.12   432,822   2,280 2.11   411,941   2,407 2.32 \n Certificates of deposit   325,804   2,859 3.48   320,871   2,810 3.51   322,638   2,958 3.64 \n Brokered certificates of deposits   249   3 4.78   -   - 0.00   12,000   152 5.03 \n Total interest-bearing deposits   1,784,487   7,313 1.63   1,759,759   6,992 1.59   1,725,490   7,268 1.67 \n FHLB advances and other borrowings ((2))   146,646   1,594 4.31   176,351   1,930 4.39   258,782   2,827 4.33 \n Subordinated debt   27,890   355 5.05   27,857   352 5.07   27,753   355 5.07 \n Total interest-bearing liabilities   1,959,023   9,262 1.88   1,963,967   9,274 1.89   2,012,025   10,450 2.06 \n Non-interest-bearing demand deposits   359,349   372,187   458,900 \n Other non-interest-bearing liabilities   45,555   41,761   34,777 \n Total liabilities   2,363,927   2,377,915   2,505,702 \n Total stockholders' equity   388,383   386,881   317,426 \n Total liabilities and capital $ 2,752,310 $ 2,764,796 $ 2,823,128 \n   \n Net interest income $ 25,503 $ 23,964 $ 23,432 \n Net interest rate spread ((3)) 3.38 % 3.16 % 2.91 % \n Net interest-earning assets ((4)) $ 664,970 $ 674,965 $ 694,529 \n Total deposits   2,143,836   2,131,946   2,184,390 \n Net interest margin ((5)) 3.86 % 3.64 % 3.43 % \n Cost of deposits 1.35 % 1.32 % 1.32 % \n Cost of funds 1.88 % 1.89 % 2.06 % \n Average interest-earning assets to interest-bearing liabilities 133.94 % 134.37 % 134.52 % \n   \n\n (1) Nonaccrual loans are included in average balance only. Loan balance include loans held for sale. \n (2) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. \n (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. \n (4) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. \n (5) Net interest margin represents net interest income divided by average total interest-earning assets. \n\n \n Avidia Bancorp, Inc. \n Asset Quality Data (Unaudited) \n   \n At or for the Quarters Ended \n (Dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 \n Nonperforming Assets \n Nonaccrual loans: \n Residential $ 701   $ 320   $ 387   \n Commercial real estate   4,935     5,952     -   \n Construction   -     -     8,930   \n Commercial   12,115     10,642     8,307   \n Total nonaccrual loans $ 17,751   $ 16,914   $ 17,624   \n Other real estate owned   -     -     -   \n Total nonperforming assets $ 17,751   $ 16,914   $ 17,624   \n   \n Total nonaccrual loans to total loans   0.79   %   0.75   %   0.77   % \n Total nonperforming assets to total loans   0.79     0.75     0.77   \n   \n Allowance for Credit Losses \n Allowance for credit losses, beginning of period $ 23,926   $ 22,761   $ 23,425   \n Charged-off loans   (1,213 )   (75 )   (844 ) \n Recoveries on charged-off loans   458     495     223   \n Net loan (charge-offs) recoveries   (755 )   420     (621 ) \n Provision expense for credit losses   19     745     1,480   \n Allowance for credit losses, end of period $ 23,190   $ 23,926   $ 24,284   \n   \n Allowance for credit losses to total loans   1.03   %   1.06   %   1.07   % \n Allowance for credit losses to nonaccrual loans   130.64     141.46     137.79   \n Allowance for credit losses to nonperforming loans   130.64     141.46     137.79   \n   \n   \n Net loan recoveries (charge-offs) \n Residential $ 1   $ 1   $ 2   \n Commercial real estate   (960 )   -     135   \n Construction   270     479     -   \n Commercial   (71 )   (67 )   (766 ) \n Consumer   5     7     8   \n Total net loan (charge-offs) recoveries $ (755 ) $ 420   $ (621 ) \n   \n Net loan (charge-offs) recoveries to average loans (annualized)   (0.13 ) %   0.07   %   (0.11 ) % \n\n \n Avidia Bancorp, Inc. \n Non-GAAP Reconciliation (Unaudited) \n   \n As of \n (Dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 \n Tangible stockholders' equity: \n Total stockholders' equity (GAAP) $ 366,573 $ 389,536 $ 372,037   \n Less: Goodwill   11,936   11,936   11,936   \n Tangible stockholders' equity (non-GAAP) $ 354,637 $ 377,600 $ 360,101   \n   \n Tangible assets: \n Total assets (GAAP) $ 2,775,550 $ 2,780,104 $ 2,787,010   \n Less: Goodwill   11,936   11,936   11,936   \n Tangible assets (non-GAAP) $ 2,763,614 $ 2,768,168 $ 2,775,074   \n   \n Average tangible stockholders' equity: \n Average total stockholders' equity (GAAP) $ 388,383 $ 386,881 $ 317,426   \n Less: Average goodwill   11,936   11,936   11,936   \n Average tangible stockholders' equity (non-GAAP) $ 376,447 $ 374,945 $ 305,490   \n   \n Stockholders' equity to assets (GAAP)   13.21 %   14.01 %   13.35   % \n Tangible stockholders' equity to tangible assets (non-GAAP)   12.83 %   13.64 %   12.95   % \n Return on average equity (GAAP)   8.79 %   7.43 %   (1.14 ) % \n Return on average tangible common equity (non-GAAP)   9.06 %   7.76 %   (1.18 ) % \n   \n Common shares outstanding, including unallocated ESOP shares   19,238   20,076   20,076   \n   \n Book value per common share (GAAP) $ 19.05 $ 19.40 $ 18.53   \n Tangible book value per common share (non-GAAP) $ 18.43 $ 18.81 $ 17.94   \n   \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261022095052/en/\n(https://www.businesswire.com/news/home/20261022095052/en/)\n\nRobert D. Cozzone\n\nPresident and Chief Executive Officer\n\nAvidia Bancorp, Inc.\n\n(800) 508-2265\n\n\nCopyright Business Wire 2026","article_body_html":"","raw_payload":{"data":{"id":"nBw3Y5GzPa-20261022","title":"Avidia Bancorp, Inc. Reports Third Quarter 2026 Financial Results, Declares Quarterly Cash Dividend","author":"Business Wire","ticker":"AVBC","created":"2026-10-22T20:30:01.059Z","tickers":["AVBC"],"exchange":"NYSE","article_body":"Avidia Bancorp, Inc. Reports Third Quarter 2026 Financial Results, Declares\nQuarterly Cash Dividend\n\nAvidia Bancorp, Inc.\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Finvestors.avidiabank.com%2Foverview%2Fdefault.aspx&esheet=54627282&newsitemid=20261022095052&lan=en-US&anchor=Avidia+Bancorp%2C+Inc.&index=1&md5=9a8e85a10369c236c55d7675ced917b4)\n(the “Company”) (NYSE: “AVBC”), the holding company of Avidia Bank,\ntoday reported third quarter 2026 net income of $8.6 million, or $0.47 per\nshare, compared to second quarter 2026 net income of $7.2 million, or $0.39\nper share.\n\nThe Company also announced today the declaration of a quarterly cash dividend\nof $0.06 per share on its outstanding shares of common stock, payable on or\nabout November 30, 2026, to stockholders of record as of the close of business\non November 17, 2026.\n\nCEO Robert Cozzone stated “Quarterly earnings growth benefited from higher\nloan yields and a lower loan loss provision. Our focus on pricing and\noperational discipline is resulting in continued improvements in operating\nleverage and balance sheet structure. During the quarter, we announced a $30\nmillion stock repurchase authorization and commenced repurchases, further\nsupporting stockholder returns.”\n\nTHIRD QUARTER 2026 FINANCIAL HIGHLIGHTS (comparisons are to prior quarter)\n\n\n * Net interest margin increased by 22 basis points to 3.86%, which included an\n11 basis point benefit from a large loan prepayment penalty received.\n\n * Return on assets increased by 20 basis points to 1.24%.\n\n * Return on equity increased by 136 basis points to 8.79%.\n\n * Efficiency ratio improved to 62.2% from 65.3%.\n\n * Share repurchases of $23.8 million were completed as of September 30, equal to\n6.1% of the previous quarter’s stockholders’ equity.\n\nBALANCE SHEET\n\nTotal assets were $2.78 billion at September 30, 2026, which was comparable to\nJune 30, 2026.\n\n\n * Short-term investments decreased by $9.0 million to $42.3 million as excess\ncash was used to pay down wholesale borrowings and for the share repurchases.\n\n * Total investment securities decreased by $1.7 million from June 30, to $325.9\nmillion.\n\n * Total loans were $2.26 billion, which was comparable to June 30.\n\n\n* Residential mortgages increased by $30.1 million due primarily to the $21.3\nmillion purchase of in-market, adjustable-rate mortgage loans from a local\ncorrespondent bank.\n\n * Commercial & industrial loans decreased $31.2 million due primarily to the\nimpact of loan prepayments, including a $23.0 million solar loan that had\nthree years remaining to maturity.\n\n * Quarter-end loan exposure related to non-medical office space was $90.6\nmillion, or 4% of gross loans. When excluding owner-occupied, total\nnon-medical office exposure was $72.6 million.\n\n\n\n\n * Deposits grew by $53.0 million, or 2.5% for the quarter, to $2.21 billion.\n\n\n* Brokered certificates of deposit in the amount of $22.9 million were\npurchased.\n\n * Money market accounts increased by $19.7 million due to solid growth from\nbusiness customers.\n\n * Certificates of deposit increased by $12.1 million.\n\n * Lower cost transaction accounts (demand and NOW) were 50% of period-end total\ndeposits.\n\n\n\n\n * Federal Home Loan Bank advances decreased by $50.0 million to $110.0 million.\n\n * Total stockholders’ equity decreased by $23.0 million, or 5.9%, to $366.6\nmillion. Stockholders’ equity to total assets was 13.2% at quarter-end.\nTangible stockholders' equity to tangible assets (non-GAAP) was 12.8%.\n\n\n* The Company recorded $23.8 million for the repurchase of 1,079,051 shares\n(5.4% of outstanding shares).\n\n * Accumulated other comprehensive loss increased by $6.8 million because higher\nmarket interest rates reduced the value of the available for sale investment\nportfolio.\n\n * Pursuant to an equity compensation plan approved by stockholders in the third\nquarter, five-year vesting director equity compensation grants were awarded\nconsisting of 240,912 shares of restricted stock valued at $22.29 per share\nand 602,280 stock options valued at $7.78 per option.\n\n * On October 13, 2026, management equity grants with 5- or 6-year vesting were\nawarded consisting of 489,500 shares of restricted stock valued at $21.95 per\nshare and 1,187,000 stock options with an average value of $7.65 per option.\nThese values are not included in the consolidated financial statements as of\nSeptember 30, 2026.\n\n\n\n\nREVENUE\n\nTotal net revenue increased to $31.2 million in the third quarter of 2026, an\nincrease of $1.3 million, or 4%, compared to the prior quarter.\n\n\n * Third quarter 2026 net interest income increased $1.5 million due to higher\ninterest rates across most loan categories. The net interest margin improved\nby 22 basis points to 3.86%, which included a large $692 thousand loan\nprepayment penalty received from the prepayment of the large solar loan\nmentioned above. The net interest margin excluding the prepayment penalty is\n3.75%, up 11 basis points from the second quarter.\n\n\n* Average earning assets totaled $2.6 billion, which remained steady from the\nprior quarter.\n\n * The yield on earning assets increased 21 basis points to 5.26%. The 5.55% loan\nyield included the $692 thousand in prepayment penalties, which contributed 12\nbasis points to the loan yield.\n\n * The cost of interest-bearing liabilities decreased 1 basis point to 1.88%, as\nthe benefit from lower cost borrowings was partially offset by a 3 basis point\nincrease in the cost of deposits to 1.35%.\n\n\n\n\n * Non-interest income decreased by $250 thousand, primarily because payments\nprocessing income declined from the prior quarter, when it was elevated by\ncontract termination fees.\n\n * Mortgage banking income increased $149 thousand, or 51.9%, primarily driven by\na higher quarterly MSR valuation.\n\nNON-INTEREST EXPENSE\n\n\n * Total non-interest expense decreased $121 thousand, or 1%, to $19.4 million in\nthe third quarter of 2026.\n\n\n* Salaries and benefits increased $235 thousand, or 2%, including $77 thousand\nfrom the expense related to the new stock grants issued.\n\n * Modest decreases were recorded across many of the other expense categories.\n\n\n\n\nINCOME TAXES\n\nIncome tax expense increased $660 thousand to $3.0 million in the third\nquarter of 2026 compared to the prior quarter.\n\n\n * The effective income tax rate was 25.6% for the third quarter and 25.5%\nyear-to-date.\n\nASSET QUALITY\n\nThe period-end allowance for credit losses was $23.2 million in the third\nquarter of 2026 compared to $23.9 million at the prior quarter-end. The ratio\nof the allowance to total loans decreased to 1.03% from 1.06% for these dates.\n\n\n * Provision expense for credit losses decreased $681 thousand to $211 thousand\nin the third quarter of 2026.\n\n * The Company recorded net loan charge-offs of $755 thousand in the third\nquarter of 2026, measuring 0.13% of average loans on an annualized basis.\n\n * Nonaccruing loans were $17.8 million, or 0.79% of total loans, at period-end,\ncompared to $16.9 million, or 0.75% of total loans, at the prior quarter-end.\n\nABOUT AVIDIA BANCORP, INC.\n\nAvidia Bancorp, Inc. is the bank holding company of Avidia Bank. Avidia Bank\nis a Massachusetts-chartered stock savings bank. With headquarters in Hudson,\nMassachusetts, it also operates nine full-service banking offices in western\nMiddlesex County and eastern Worcester County, in Massachusetts. For more\ninformation, please visit https://www.AvidiaBank.com\n(https://cts.businesswire.com/ct/CT?id=smartlink&url=https%3A%2F%2Fwww.avidiabank.com&esheet=54627282&newsitemid=20261022095052&lan=en-US&anchor=https%3A%2F%2Fwww.AvidiaBank.com&index=2&md5=a8afa52877f8f688ca172b381969eb8e)\n.\n\nNON-GAAP FINANCIAL MEASURES\n\nThis document contains certain non-GAAP financial measures in addition to\nresults presented in accordance with U.S. Generally Accepted Accounting\nPrinciples (“GAAP”). These non-GAAP measures are intended to provide the\nreader with additional supplemental perspectives on operating results,\nperformance trends, and financial condition. Non-GAAP financial measures are\nnot a substitute for GAAP measures; they should be read and used in\nconjunction with the Company’s GAAP financial information. A reconciliation\nof non-GAAP financial measures to GAAP measures is provided at the end of this\ndocument. In all cases, it should be understood that non-GAAP measures do not\ndepict amounts that accrue directly to the benefit of shareholders. An item\nwhich management excludes when computing non-GAAP operating earnings can be of\nsubstantial importance to the Company’s results for any particular quarter\nor year. The Company’s non-GAAP operating earnings information set forth is\nnot necessarily comparable to non-GAAP information which may be presented by\nother companies. Each non-GAAP measure used by the Company in this document as\nsupplemental financial data should be considered in conjunction with the\nCompany’s GAAP financial information. The Company adjusts certain equity\nrelated measures to exclude intangible assets due to the importance of these\nmeasures to the investment community.\n\nFORWARD-LOOKING STATEMENTS\n\nStatements contained in this press release that are not historical facts are\nforward-looking statements within the meaning of Section 27A of the Securities\nAct of 1933, as amended, and Section 21E of the Securities Exchange Act of\n1934, as amended, and are intended to be covered by the safe harbor provisions\nof the Private Securities Litigation Reform Act of 1995. You can identify\nforward-looking statements by use of the words \"believe,\" \"expect,\"\n\"anticipate,\" \"intend,\" \"estimate,\" \"assume,\" \"outlook,\" \"will,\" \"should,\" and\nother similar expressions which do not relate to historical matters. Although\nwe believe that these forward-looking statements are based on reasonable\nestimates and assumptions, they are not guarantees of future performance. You\nshould not place undue reliance on forward-looking statements because they are\nsubject to significant risks, uncertainties and other factors which are, in\nsome cases, beyond our control. Our actual results could differ materially\nfrom those presented in the forward-looking statements as a result of, among\nother factors, changes in general business and economic conditions nationwide\nand in our local markets, including changes which adversely affect borrowers'\nability to service and repay loans; changes in customer behavior due to\npolitical, business and economic conditions, including inflation; conditions\nin the capital and debt markets; reductions in net interest income resulting\nfrom interest rate volatility and changes in the balances and mix of our loans\nand deposits; changes in market interest rates and real estate values;\ndecreases in the value of securities and other assets or in deposit levels\nnecessitating increased borrowing to fund loans and investments; competition\nfrom other financial institutions; changes in legislation or regulation and\naccounting principles, policies and guidelines; cybersecurity incidents;\nfraud; natural disasters; the risk that we may be unsuccessful in implementing\nour business strategy; and the other risks and uncertainties disclosed in\nAvidia Bancorp, Inc.’s Form 10-K, and updated by our Quarterly Report on\nForm 10-Q, and other filings submitted to the U.S. Securities and Exchange\nCommission. Forward looking statements speak only as of the date of this\nrelease, and we do not undertake any obligation to update or revise any of\nthem to reflect events or circumstances occurring after the date of this\nrelease or to reflect the occurrence of unanticipated events, except as may be\nrequired by applicable law or regulation.\n   \n Avidia Bancorp, Inc. \n Selected Consolidated Financial Highlights (Unaudited) \n   \n At or for the Quarters Ended \n (Dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 \n Earnings Data: \n Net interest income $ 25,503 $ 23,964 $ 23,432 \n Total non-interest income   5,652   5,902   4,526 \n Total net revenue   31,155   29,866   27,958 \n Total non-interest expense   19,380   19,501   28,369 \n Provision for credit losses   211   892   1,540 \n Income (loss) before income tax expense   11,564   9,473   (1,951) \n Net income (loss)   8,601   7,170   (907) \n   \n Per-Share Data: \n Earnings (loss) per share, basic $ 0.47 $ 0.39 $ (0.05) \n Earnings (loss) per share, diluted   0.47   0.39   (0.05) \n Book value per share   19.05   19.40   18.53 \n Tangible book value per share (non-GAAP)((1))   18.43   18.81   17.94 \n   \n Performance Ratios: \n Return on average assets (annualized)   1.24 %   1.04 %   -0.13 % \n Return on average equity (annualized)   8.79   7.43   -1.14 \n Return on average tangible common equity (non-GAAP)((1))   9.06   7.76   -1.18 \n Net interest margin((2))   3.86   3.64   3.43 \n Interest rate spread ((3))   3.38   3.16   2.91 \n Yield on loans   5.55   5.32   5.21 \n Cost of deposits   1.35   1.32   1.32 \n Cost of funds   1.88   1.89   2.06 \n Non-interest income as a percentage of average assets   0.81   0.86   0.64 \n Non-interest expense as a percentage of average assets   2.79   2.83   4.02 \n Efficiency ratio((4))   62.21   65.29   101.47 \n Total loans as a percentage of total deposits   102.45   104.97   109.39 \n Average interest-earning assets as a percentage of average interest-bearing liabilities   133.94   134.37   134.52 \n   \n Balance Sheet, (end of period): \n Total assets $ 2,775,550 $ 2,780,104 $ 2,787,010 \n Total earning assets   2,636,812   2,647,488   2,669,662 \n Total loans   2,260,822   2,260,543   2,274,747 \n Total deposits   2,206,649   2,153,608   2,079,578 \n Total stockholders' equity   366,573   389,536   372,037 \n   \n Asset Quality: \n Allowance for credit losses $ 23,190 $ 23,926 $ 24,284 \n Allowance for credit losses as a percentage of total loans   1.03 %   1.06 %   1.07 % \n Allowance for credit losses as a percentage of nonperforming loans   130.64   141.46   137.79 \n Nonaccrual loans as a percentage of total loans   0.79   0.75   0.77 \n Net loan (charge-offs) recoveries as a percentage of average loans (annualized)   (0.13)   0.07   (0.11) \n Total nonperforming assets as a percentage of total assets   0.64   0.61   0.63 \n   \n Capital Ratios: \n Total stockholders' equity as a percentage of total assets   13.21 %   14.01 %   13.35 % \n Tangible stockholders' equity as a percentage of tangible assets (non-GAAP)((1))   12.83   13.64   12.95 \n Total capital as a percentage of risk-weighted assets ((5))   19.69   20.20   19.89 \n Common equity tier 1 capital as a percentage of risk-weighted assets ((5))   17.28   17.79   17.42 \n Tier 1 capital as a percentage of average assets ((5))   13.73   14.19   13.11 \n   \n\n (1) Reconciliation of non-GAAP financial measures appears on page 12. \n (2) Represents net interest income as a percentage of average interest-earning assets. \n (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. \n (4) Represents non-interest expenses divided by the sum of net interest income and non-interest income. \n (5) Presented as projected for September 30, 2026 and actual for the remaining dates. \n\n \n Avidia Bancorp, Inc. \n Consolidated Balance Sheets (Unaudited) \n   \n As of September 30, 2026 Change From \n (Dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 June 30, 2026 September 30, 2025 \n Assets \n   \n Cash and due from banks $ 18,000   $ 19,171   $ 15,484   $ (1,171 ) (6.1 ) % $ 2,516   16.2   % \n Short-term investments   42,300     51,303     96,384     (9,003 ) (17.5 )   (54,084 ) (56.1 ) \n Total cash and cash equivalents   60,300     70,474     111,868     (10,174 ) (14.4 )   (51,568 ) (46.1 ) \n   \n Securities available for sale, at fair value   313,409     315,091     269,308     (1,682 ) (0.5 )   44,101   16.4   \n Securities held to maturity, at amortized cost   12,500     12,500     15,747     -   0.0     (3,247 ) (20.6 ) \n Total securities   325,909     327,591     285,055     (1,682 ) (0.5 )   40,854   14.3   \n   \n Federal Home Loan Bank stock, at cost   7,001     8,051     11,731     (1,050 ) (13.0 )   (4,730 ) (40.3 ) \n   \n Loans held for sale   780     -     1,745     780   -     (965 ) (55.3 ) \n   \n Total loans   2,260,822     2,260,543     2,274,747     279   0.0     (13,925 ) (0.6 ) \n Less: Allowance for credit losses   (23,190 )   (23,926 )   (24,284 )   736   (3.1 )   1,094   (4.5 ) \n Net loans   2,237,632     2,236,617     2,250,463     1,015   0.0     (12,831 ) (0.6 ) \n   \n Premises and equipment, net   28,951     29,153     29,270     (202 ) (0.7 )   (319 ) (1.1 ) \n Bank-owned life insurance   47,722     47,309     36,375     413   0.9     11,347   31.2   \n Accrued interest receivable   8,588     8,700     8,141     (112 ) (1.3 )   447   5.5   \n Net deferred tax asset   14,942     12,842     10,832     2,100   16.4     4,110   37.9   \n Goodwill   11,936     11,936     11,936     -   -     -   -   \n Mortgage servicing rights   3,423     3,168     3,149     255   8.0     274   8.7   \n Other assets   28,366     24,263     26,445     4,103   16.9     1,921   7.3   \n Total assets $ 2,775,550   $ 2,780,104   $ 2,787,010   $ (4,554 ) (0.2 ) % $ (11,460 ) (0.4 ) % \n   \n Liabilities \n Deposits $ 2,206,649   $ 2,153,608   $ 2,079,578   $ 53,041   2.5   % $ 127,071   6.1   % \n Federal Home Loan Bank advances   110,000     160,000     260,000     (50,000 ) (31.3 )   (150,000 ) (57.7 ) \n Subordinated debt   27,914     27,877     27,778     37   0.1     136   0.5   \n Accrued expenses and other liabilities   64,414     49,083     47,617     15,331   31.2     16,797   35.3   \n Total liabilities $ 2,408,977   $ 2,390,568   $ 2,414,973   $ 18,409   0.8   % $ (5,996 ) (0.2 ) % \n   \n Stockholders' equity: \n Common Stock $ 192   $ 201   $ 201   $ (9 ) (4.5 ) % $ (9 ) (4.5 ) % \n Additional paid-in capital   171,507     195,228     195,029     (23,721 ) (12.2 )   (23,522 ) (12.1 ) \n Unallocated ESOP common stock   (14,656 )   (14,857 )   (15,459 )   201   (1.4 )   803   (5.2 ) \n Retained earnings   230,546     223,138     206,648     7,408   3.3     23,898   11.6   \n Accumulated other comprehensive loss   (21,016 )   (14,174 )   (14,382 )   (6,842 ) 48.3     (6,634 ) 46.1   \n Total stockholders' equity $ 366,573   $ 389,536   $ 372,037   $ (22,963 ) (5.9 ) % $ (5,464 ) (1.5 ) % \n   \n Total liabilities and stockholders' equity $ 2,775,550   $ 2,780,104   $ 2,787,010   $ (4,554 ) (0.2 ) % $ (11,460 ) (0.4 ) % \n   \n\n \n Avidia Bancorp, Inc. \n Consolidated Loan and Deposit Analysis (Unaudited) \n   \n Loan Analysis \n   \n As of September 30, 2026 Change From \n (Dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 June 30, 2026 September 30, 2025 \n Real estate loans \n One to four family residential $ 548,079   $ 517,975   $ 521,606   $ 30,104   5.8   % $ 26,473   5.1   % \n Home equity and second mortgages   84,313     82,886     76,027     1,427   1.7     8,286   10.9   \n Commercial real estate   536,312     540,209     526,345     (3,897 ) (0.7 )   9,967   1.9   \n Commercial real estate multifamily   106,403     103,477     98,647     2,926   2.8     7,756   7.9   \n Construction & land   49,440     45,928     51,311     3,512   7.6     (1,871 ) (3.6 ) \n Total real estate loans   1,324,547     1,290,475     1,273,936     34,072   2.6     50,611   4.0   \n Commercial loans \n Condominium associations   491,868     494,331     498,164     (2,463 ) (0.5 )   (6,296 ) (1.3 ) \n Commercial & industrial   438,274     469,491     495,263     (31,217 ) (6.6 )   (56,989 ) (11.5 ) \n PPP loans   —     —     40     —   —     (40 ) (100.0 ) \n Total commercial loans   930,142     963,822     993,467     (33,680 ) (3.5 )   (63,325 ) (6.4 ) \n Consumer loans \n Consumer   2,909     3,082     4,274     (173 ) (5.6 )   (1,365 ) (31.9 ) \n Total consumer loans   2,909     3,082     4,274     (173 ) (5.6 )   (1,365 ) (31.9 ) \n Total loans   2,257,598     2,257,379     2,271,677     219   0.0     (14,079 ) (0.6 ) \n Allowance for credit losses   (23,190 )   (23,926 )   (24,284 )   736   (3.1 )   1,094   (4.5 ) \n Net deferred loan costs   3,224     3,164     3,070     60   1.9     154   5.0   \n Loans, net $ 2,237,632   $ 2,236,617   $ 2,250,463   $ 1,015   0.0   $ (12,831 ) (0.6 ) % \n   \n   \n Deposit Analysis \n   \n As of September 30, 2026 Change From \n (Dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 June 30, 2026 September 30, 2025 \n Non-interest-bearing demand $ 368,961   $ 369,282   $ 342,867   $ (321 ) (0.1 ) % $ 26,094   7.6   % \n NOW   743,042     753,470     708,096     (10,428 ) (1.4 )   34,946   4.9   \n Money market   299,215     279,529     278,095     19,686   7.0     21,120   7.6   \n Savings   441,451     432,310     417,010     9,142   2.1     24,441   5.9   \n Certificates of deposit   331,084     319,017     321,510     12,066   3.8     9,574   3.0   \n Brokered certificates of deposit   22,896     —     12,000     22,896   -     10,896   90.8   \n Total deposits $ 2,206,649   $ 2,153,608   $ 2,079,578   $ 53,041   2.5   % $ 127,071   6.1   % \n   \n\n \n Avidia Bancorp, Inc. \n Consolidated Statements of Operations QTD (Unaudited) \n   \n Three Months Ended September 30, 2026 Change \n Three Months Ended From Three Months Ended \n (Dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 June 30, 2026 September 30, 2025 \n Interest and dividend income \n Loans, including fees $ 31,585 $ 29,961 $ 29,727   $ 1,624   5.4   % $ 1,858   6.3   % \n Securities   3,016   2,877   2,567     139   4.8     449   17.5   \n Other   164   400   1,588     (236 ) (59.0 )   (1,424 ) (89.7 ) \n Total interest and dividend income   34,765   33,238   33,882     1,527   4.6     883   2.6   \n   \n Interest expense \n Deposits   7,313   6,992   7,268     321   4.6     45   0.6   \n Federal Home Loan Bank advances   1,594   1,930   2,827     (336 ) (17.4 )   (1,233 ) (43.6 ) \n Subordinated debt   355   352   355     3   0.9     -   0.0   \n Total interest expense   9,262   9,274   10,450     (12 ) (0.1 )   (1,188 ) (11.4 ) \n   \n Net interest income   25,503   23,964   23,432     1,539   6.4     2,071   8.8   \n Provision expense for credit losses - loans   19   745   1,480     (726 ) (97.4 )   (1,461 ) (98.7 ) \n Provision expense for credit losses - off-balance sheet credit exposures   192   147   60     45   30.6     132   220.0   \n Total provision expense for credit losses   211   892   1,540     (681 ) (76.3 )   (1,329 ) (86.3 ) \n Net interest income, after provision expense for credit losses   25,292   23,072   21,892     2,220   9.6     3,400   15.5   \n   \n Non-interest income: \n Customer service fees   1,449   1,338   912     111   8.3     537   58.9   \n Payments processing income   2,152   2,592   1,857     (440 ) (17.0 )   295   15.9   \n Income on bank-owned life insurance   411   379   279     32   8.4     132   47.3   \n Mortgage banking income   436   287   121     149   51.9     315   260.3   \n Investment commissions   423   359   358     64   17.8     65   18.2   \n Other   781   947   999     (166 ) (17.5 )   (218 ) (21.8 ) \n Total non-interest income   5,652   5,902   4,526     (250 ) (4.2 )   1,126   24.9   \n   \n Non-interest expense: \n Salaries and employee benefits   10,198   9,963   9,773     235   2.4     425   4.3   \n Occupancy and equipment   1,533   1,440   1,933     93   6.5     (400 ) (20.7 ) \n Data processing   3,045   3,042   2,251     3   0.1     794   35.3   \n Professional fees   1,373   1,516   790     (143 ) (9.4 )   583   73.8   \n Payments processing   567   452   526     115   25.4     41   7.8   \n Deposit insurance   333   302   651     31   10.3     (318 ) (48.8 ) \n Marketing and promotions   308   424   423     (116 ) (27.4 )   (115 ) (27.2 ) \n Telecommunications   73   75   81     (2 ) (2.7 )   (8 ) (9.9 ) \n Problem loan and foreclosed real estate, net   59   179   179     (120 ) (67.0 )   (120 ) (67.0 ) \n Other general and administrative   1,891   2,108   11,762     (217 ) (10.3 )   (9,871 ) (83.9 ) \n Total non-interest expense   19,380   19,501   28,369     (121 ) (0.6 )   (8,989 ) (31.7 ) \n   \n Income (loss) before income tax expense   11,564   9,473   (1,951 )   2,091   22.1     13,515   692.7   \n Income tax expense (benefit)   2,963   2,303   (1,044 )   660   28.7     4,007   383.8   \n Net income (loss) $ 8,601 $ 7,170 $ (907 ) $ 1,431   20.0   % $ 9,508   1048.3   % \n   \n Share data: \n Weighted average common shares outstanding, basic   18,247   18,577   18,520     (330 ) (1.8 ) %   (274 ) (1.5 ) % \n Weighted average common shares outstanding, diluted   18,247   18,577   18,520     (330 ) (1.8 )   (274 ) (1.5 ) \n Earnings (loss) per share, basic $ 0.47 $ 0.39 $ (0.05 ) $ 0.08   20.5   $ 0.52   1059.7   \n Earnings (loss) per share, diluted $ 0.47 $ 0.39 $ (0.05 ) $ 0.08   20.5   $ 0.52   1059.7   \n   \n   \n\n Avidia Bancorp, Inc. \n Consolidated Statements of Operations YTD (Unaudited) \n   \n Nine Months Ended Nine Months Ended Sep. 30, 2026 Change \n (Dollars in thousands, except per share data) Sep. 30, 2026 Sep. 30, 2025 From Nine Months Ended Sep. 30, 2025 \n Interest and dividend income: \n Loans, including fees $ 91,860 $ 86,791   $ 5,069   5.8   % \n Securities   8,437   7,774     663   8.5   \n Other   1,306   2,224     (918 ) (41.3 ) \n Total interest and dividend income   101,603   96,789     4,814   5.0   \n   \n Interest expense: \n Deposits   21,189   22,241     (1,052 ) (4.7 ) \n Federal Home Loan Bank advances   5,905   10,267     (4,362 ) (42.5 ) \n Subordinated debt   1,059   1,021     38   3.7   \n Total interest expense   28,153   33,529     (5,376 ) (16.0 ) \n   \n Net interest income:   73,450   63,260     10,190   16.1   \n Provision expense for credit losses - loans   1,623   20,308     (18,685 ) (92.0 ) \n Provision expense (reversal) for credit losses - off-balance sheet credit exposures   569   (82 )   651   793.9   \n Total provision expense for credit losses   2,192   20,226     (18,034 ) (89 ) \n Net interest income, after provision expense for credit losses   71,258   43,034     28,224   65.6   \n   \n Non-interest income: \n Customer service fees   3,705   2,697     1,008   37.4   \n Net (loss) on sale of securities available for sale   -   (619 )   619   100.0   \n Payments processing income   6,653   6,129     524   8.5   \n Income on bank-owned life insurance   1,059   847     212   25.0   \n Mortgage banking income   987   299     688   230.1   \n Investment commissions   1,138   1,020     118   11.6   \n Other   2,298   3,129     (831 ) (26.6 ) \n Total non-interest income   15,840   13,502     2,338   17.3   \n   \n Non-interest expense: \n Salaries and employee benefits   30,361   30,247     114   0.4   \n Occupancy and equipment   4,801   5,994     (1,193 ) (19.9 ) \n Data processing   8,977   8,623     354   4.1   \n Professional fees   3,997   2,539     1,458   57.4   \n Payments processing   1,386   2,500     (1,114 ) (44.6 ) \n Deposit insurance   978   2,064     (1,086 ) (52.6 ) \n Advertising   938   998     (60 ) (6.0 ) \n Telecommunications   248   270     (22 ) (8.1 ) \n Problem loan and foreclosed real estate, net   436   485     (49 ) (10.1 ) \n Other general and administrative   5,753   16,246     (10,493 ) (64.6 ) \n Total non-interest expense   57,875   69,966     (12,091 ) (17.3 ) \n   \n Income (loss) before income tax expense   29,223   (13,430 )   42,653   317.6   \n Income tax expense (benefit)   7,458   (4,808 )   12,266   255.1   \n Net income (loss) $ 21,765 $ (8,622 ) $ 30,387   352.4   % \n   \n Share data: \n Weighted average common shares outstanding, basic   18,463   18,520     (58 ) (0.3 ) % \n Weighted average common shares outstanding, diluted   18,463   18,520     (58 ) (0.3 ) \n Earnings (loss) per share, basic $ 1.18 $ (0.47 ) $ 1.64   353.2   \n Earnings (loss) per share, diluted $ 1.18 $ (0.47 ) $ 1.64   353.2   \n\n \n Avidia Bancorp, Inc. \n Average Balances and Average Yields And Costs (Unaudited) \n   \n For the Quarters Ended \n September 30, 2026 June 30, 2026 September 30, 2025 \n (Dollars in thousands) Average Outstanding Balance Interest Average Yield/Rate Average Outstanding Balance Interest Average Yield/Rate Average Outstanding Balance Interest Average Yield/Rate \n Interest-earning assets: \n Short-term investments $ 33,751 $ 164 1.93 % $ 56,531 $ 400 2.84 % $ 150,428 $ 1,588 4.19 % \n Securities   332,915   3,016 3.59   323,536   2,877 3.57   292,031   2,567 3.49 \n Loans ((1))   2,257,327   31,585 5.55   2,258,865   29,961 5.32   2,264,095   29,727 5.21 \n Total interest-earning assets   2,623,993   34,765 5.26   2,638,932   33,238 5.05   2,706,554   33,882 4.97 \n Non-interest-earning assets   128,317   125,864   116,574 \n Total assets $ 2,752,310 $ 2,764,796 $ 2,823,128 \n   \n Interest-bearing liabilities: \n NOW accounts $ 732,338 $ 1,121 0.61 % $ 736,036 $ 1,042 0.57 % $ 704,708 $ 833 0.47 % \n Money market accounts   293,575   1,016 1.37   270,030   860 1.28   274,203   918 1.33 \n Regular and other savings accounts   432,521   2,314 2.12   432,822   2,280 2.11   411,941   2,407 2.32 \n Certificates of deposit   325,804   2,859 3.48   320,871   2,810 3.51   322,638   2,958 3.64 \n Brokered certificates of deposits   249   3 4.78   -   - 0.00   12,000   152 5.03 \n Total interest-bearing deposits   1,784,487   7,313 1.63   1,759,759   6,992 1.59   1,725,490   7,268 1.67 \n FHLB advances and other borrowings ((2))   146,646   1,594 4.31   176,351   1,930 4.39   258,782   2,827 4.33 \n Subordinated debt   27,890   355 5.05   27,857   352 5.07   27,753   355 5.07 \n Total interest-bearing liabilities   1,959,023   9,262 1.88   1,963,967   9,274 1.89   2,012,025   10,450 2.06 \n Non-interest-bearing demand deposits   359,349   372,187   458,900 \n Other non-interest-bearing liabilities   45,555   41,761   34,777 \n Total liabilities   2,363,927   2,377,915   2,505,702 \n Total stockholders' equity   388,383   386,881   317,426 \n Total liabilities and capital $ 2,752,310 $ 2,764,796 $ 2,823,128 \n   \n Net interest income $ 25,503 $ 23,964 $ 23,432 \n Net interest rate spread ((3)) 3.38 % 3.16 % 2.91 % \n Net interest-earning assets ((4)) $ 664,970 $ 674,965 $ 694,529 \n Total deposits   2,143,836   2,131,946   2,184,390 \n Net interest margin ((5)) 3.86 % 3.64 % 3.43 % \n Cost of deposits 1.35 % 1.32 % 1.32 % \n Cost of funds 1.88 % 1.89 % 2.06 % \n Average interest-earning assets to interest-bearing liabilities 133.94 % 134.37 % 134.52 % \n   \n\n (1) Nonaccrual loans are included in average balance only. Loan balance include loans held for sale. \n (2) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. \n (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. \n (4) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. \n (5) Net interest margin represents net interest income divided by average total interest-earning assets. \n\n \n Avidia Bancorp, Inc. \n Asset Quality Data (Unaudited) \n   \n At or for the Quarters Ended \n (Dollars in thousands) September 30, 2026 June 30, 2026 September 30, 2025 \n Nonperforming Assets \n Nonaccrual loans: \n Residential $ 701   $ 320   $ 387   \n Commercial real estate   4,935     5,952     -   \n Construction   -     -     8,930   \n Commercial   12,115     10,642     8,307   \n Total nonaccrual loans $ 17,751   $ 16,914   $ 17,624   \n Other real estate owned   -     -     -   \n Total nonperforming assets $ 17,751   $ 16,914   $ 17,624   \n   \n Total nonaccrual loans to total loans   0.79   %   0.75   %   0.77   % \n Total nonperforming assets to total loans   0.79     0.75     0.77   \n   \n Allowance for Credit Losses \n Allowance for credit losses, beginning of period $ 23,926   $ 22,761   $ 23,425   \n Charged-off loans   (1,213 )   (75 )   (844 ) \n Recoveries on charged-off loans   458     495     223   \n Net loan (charge-offs) recoveries   (755 )   420     (621 ) \n Provision expense for credit losses   19     745     1,480   \n Allowance for credit losses, end of period $ 23,190   $ 23,926   $ 24,284   \n   \n Allowance for credit losses to total loans   1.03   %   1.06   %   1.07   % \n Allowance for credit losses to nonaccrual loans   130.64     141.46     137.79   \n Allowance for credit losses to nonperforming loans   130.64     141.46     137.79   \n   \n   \n Net loan recoveries (charge-offs) \n Residential $ 1   $ 1   $ 2   \n Commercial real estate   (960 )   -     135   \n Construction   270     479     -   \n Commercial   (71 )   (67 )   (766 ) \n Consumer   5     7     8   \n Total net loan (charge-offs) recoveries $ (755 ) $ 420   $ (621 ) \n   \n Net loan (charge-offs) recoveries to average loans (annualized)   (0.13 ) %   0.07   %   (0.11 ) % \n\n \n Avidia Bancorp, Inc. \n Non-GAAP Reconciliation (Unaudited) \n   \n As of \n (Dollars in thousands, except per share data) September 30, 2026 June 30, 2026 September 30, 2025 \n Tangible stockholders' equity: \n Total stockholders' equity (GAAP) $ 366,573 $ 389,536 $ 372,037   \n Less: Goodwill   11,936   11,936   11,936   \n Tangible stockholders' equity (non-GAAP) $ 354,637 $ 377,600 $ 360,101   \n   \n Tangible assets: \n Total assets (GAAP) $ 2,775,550 $ 2,780,104 $ 2,787,010   \n Less: Goodwill   11,936   11,936   11,936   \n Tangible assets (non-GAAP) $ 2,763,614 $ 2,768,168 $ 2,775,074   \n   \n Average tangible stockholders' equity: \n Average total stockholders' equity (GAAP) $ 388,383 $ 386,881 $ 317,426   \n Less: Average goodwill   11,936   11,936   11,936   \n Average tangible stockholders' equity (non-GAAP) $ 376,447 $ 374,945 $ 305,490   \n   \n Stockholders' equity to assets (GAAP)   13.21 %   14.01 %   13.35   % \n Tangible stockholders' equity to tangible assets (non-GAAP)   12.83 %   13.64 %   12.95   % \n Return on average equity (GAAP)   8.79 %   7.43 %   (1.14 ) % \n Return on average tangible common equity (non-GAAP)   9.06 %   7.76 %   (1.18 ) % \n   \n Common shares outstanding, including unallocated ESOP shares   19,238   20,076   20,076   \n   \n Book value per common share (GAAP) $ 19.05 $ 19.40 $ 18.53   \n Tangible book value per common share (non-GAAP) $ 18.43 $ 18.81 $ 17.94   \n   \n\n\n \n\n\n\nView source version on businesswire.com:\nhttps://www.businesswire.com/news/home/20261022095052/en/\n(https://www.businesswire.com/news/home/20261022095052/en/)\n\nRobert D. Cozzone\n\nPresident and Chief Executive Officer\n\nAvidia Bancorp, Inc.\n\n(800) 508-2265\n\n\nCopyright Business Wire 2026"},"type":"article","timestamp":"2026-10-22T20:30:01.1563487Z","server_sent_at_ms":1792701001156},"received_at":"2026-10-22T20:30:01.224Z","source_url":"https://www.businesswire.com/news/home/20261022095052/en/"},"analysis":{"id":"165749","press_release_id":"177811","analysis_json":{"industry":{"label":"Banks","sector":"Financials"},"redFlags":["NIM expansion included an 11 bp one-time benefit from a large loan prepayment penalty","stockholders' equity fell 5.9% in the quarter due to the buyback","nonaccrual loans ticked up to 0.79% of loans from 0.75%"],"eventType":"earnings","narrative":"Avidia Bancorp reported Q3 2026 net income of $8.6 million, or $0.47 per share, up 20% from $7.2 million ($0.39) in the prior quarter.\n\nNet revenue rose 4% sequentially to $31.2 million as net interest margin expanded 22 basis points to 3.86%, aided by higher loan yields, a $692 thousand prepayment penalty, and a sharply lower loan loss provision of $211 thousand.\n\nThe board declared a $0.06 per share quarterly dividend and management confirmed a $30 million buyback authorization, with $23.8 million of repurchases (5.4% of shares) already completed by September 30.\n\nDeposits grew 2.5% to $2.21 billion and asset quality stayed stable, with nonaccrual loans at 0.79% of total loans.","sentiment":"bullish","agentHooks":{"shouldPost":true,"suggestedAngle":"Sequential EPS growth of 20% plus aggressive 5.4% share-count reduction via buyback for a small-cap Massachusetts bank."},"keyFigures":{"eps":0.47,"revenue":31155000,"revenueYoy":"11.5% (total net revenue $31.2M vs $27.96M a year earlier)","customDimensions":{"nim":"3.86%","roa":"1.24%","roe":"8.79%","net_income":8601000,"total_loans":2260822000,"total_assets":2775550000,"total_deposits":2206649000,"efficiency_ratio":"62.21%","buyback_completed":"$23.8 million (1,079,051 shares, 5.4% of outstanding)","dividend_per_share":0.06,"stockholders_equity":366573000,"nonaccrual_loans_ratio":"0.79%","net_income_prior_quarter":7170000,"nim_ex_prepayment_penalty":"3.75%","provision_for_credit_losses":211000}},"quotedText":"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.","namedEntities":{"people":[{"name":"Robert Cozzone","role":"President and CEO"}],"products":[],"companies":[{"name":"Avidia Bancorp, Inc.","ticker":"AVBC"},{"name":"Avidia Bank","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"$8.6 million","context":"Q3 2026 net income"},{"amount":"$0.47","context":"Q3 2026 EPS"},{"amount":"$0.06 per share","context":"quarterly cash dividend declared"},{"amount":"$30 million","context":"stock repurchase authorization announced during the quarter"},{"amount":"$23.8 million","context":"share repurchases completed as of September 30"},{"amount":"$31.2 million","context":"Q3 2026 total net revenue"},{"amount":"$2.78 billion","context":"total assets at September 30, 2026"},{"amount":"$2.26 billion","context":"total loans at quarter-end"},{"amount":"$2.21 billion","context":"total deposits at quarter-end"},{"amount":"$692 thousand","context":"loan prepayment penalty received on solar loan"},{"amount":"$53.0 million","context":"deposit growth during the quarter"}]},"materialImpact":{"score":4,"reasoning":"Q3 net income of $8.6M ($0.47 EPS) up 20% from prior quarter, NIM expanded 22 bps to 3.86%, and the company declared a dividend and completed a $23.8M buyback (5.4% of shares). Solid sequential improvement though not a large surprise event."},"tickerRelevance":{"others":[],"primary":"AVBC"},"globalImportance":22,"audienceRelevance":12,"eventTypeSecondary":["dividend","buyback"],"importanceComponents":{"tickerTier":"micro-cap regional bank","eventGravity":"quarterly earnings with dividend and buyback execution","sectorWeight":"financials - modest","householdBrandBoost":0,"retailFavoriteBoost":0}},"event_type":"earnings","event_type_secondary":["dividend","buyback"],"sentiment":"bullish","material_impact_score":4,"narrative":"Avidia Bancorp reported Q3 2026 net income of $8.6 million, or $0.47 per share, up 20% from $7.2 million ($0.39) in the prior quarter.\n\nNet revenue rose 4% sequentially to $31.2 million as net interest margin expanded 22 basis points to 3.86%, aided by higher loan yields, a $692 thousand prepayment penalty, and a sharply lower loan loss provision of $211 thousand.\n\nThe board declared a $0.06 per share quarterly dividend and management confirmed a $30 million buyback authorization, with $23.8 million of repurchases (5.4% of shares) already completed by September 30.\n\nDeposits grew 2.5% to $2.21 billion and asset quality stayed stable, with nonaccrual loans at 0.79% of total loans.","key_figures":{"eps":0.47,"revenue":31155000,"revenueYoy":"11.5% (total net revenue $31.2M vs $27.96M a year earlier)","customDimensions":{"nim":"3.86%","roa":"1.24%","roe":"8.79%","net_income":8601000,"total_loans":2260822000,"total_assets":2775550000,"total_deposits":2206649000,"efficiency_ratio":"62.21%","buyback_completed":"$23.8 million (1,079,051 shares, 5.4% of outstanding)","dividend_per_share":0.06,"stockholders_equity":366573000,"nonaccrual_loans_ratio":"0.79%","net_income_prior_quarter":7170000,"nim_ex_prepayment_penalty":"3.75%","provision_for_credit_losses":211000}},"named_entities":{"people":[{"name":"Robert Cozzone","role":"President and CEO"}],"products":[],"companies":[{"name":"Avidia Bancorp, Inc.","ticker":"AVBC"},{"name":"Avidia Bank","relationship":"subsidiary"}],"dollarAmounts":[{"amount":"$8.6 million","context":"Q3 2026 net income"},{"amount":"$0.47","context":"Q3 2026 EPS"},{"amount":"$0.06 per share","context":"quarterly cash dividend declared"},{"amount":"$30 million","context":"stock repurchase authorization announced during the quarter"},{"amount":"$23.8 million","context":"share repurchases completed as of September 30"},{"amount":"$31.2 million","context":"Q3 2026 total net revenue"},{"amount":"$2.78 billion","context":"total assets at September 30, 2026"},{"amount":"$2.26 billion","context":"total loans at quarter-end"},{"amount":"$2.21 billion","context":"total deposits at quarter-end"},{"amount":"$692 thousand","context":"loan prepayment penalty received on solar loan"},{"amount":"$53.0 million","context":"deposit growth during the quarter"}]},"model_name":"glm-5.3-flashx","prompt_hash":"sha256:5c812bd9e28b810d","schema_hash":"sha256:05005c02d9cffac9","created_at":"2026-10-22T20:30:11.913Z","global_importance":22,"audience_relevance":12,"importance_components":{"tickerTier":"micro-cap regional bank","eventGravity":"quarterly earnings with dividend and buyback execution","sectorWeight":"financials - modest","householdBrandBoost":0,"retailFavoriteBoost":0}},"durationMs":7319,"modelName":"glm-5.3-flashx"}}