Quarterly ResultMay 13, 2026, 04:13 PM
Avidbank Q1 Net Income $9.02M, EPS $0.85
AI Summary
Avidbank Holdings, Inc. reported a significant increase in net income and earnings per share for the first quarter of 2026. Net income rose to $9.02 million, up 65.9% year-over-year, with basic EPS reaching $0.85. The company also saw growth in its balance sheet, with total assets, deposits, and loans all increasing compared to the end of the previous fiscal year. Net interest income also experienced substantial growth, although a provision for credit losses was recorded for the quarter.
Key Highlights
- Net income for Q1 2026 was $9.02 million, a 65.9% increase from $5.44 million in Q1 2025.
- Basic earnings per common share for Q1 2026 rose to $0.85 from $0.73 in Q1 2025.
- Total assets increased to $2.58 billion at March 31, 2026, from $2.57 billion at December 31, 2025.
- Total deposits grew to $2.20 billion at March 31, 2026, up from $2.19 billion at December 31, 2025.
- Loans, net of allowance for credit losses, increased to $2.15 billion from $2.13 billion.
- Net interest income for Q1 2026 was $26.50 million, a 36.9% increase from $19.35 million in Q1 2025.
- Provision for credit losses was $1.45 million in Q1 2026, compared to $0 in Q1 2025.
- Total shareholders' equity increased to $288.44 million at March 31, 2026, from $280.98 million at December 31, 2025.
Price Impact
More from AVBH