Quarterly ResultJul 27, 2026, 04:41 PM
Avidia Bancorp Q2 Net Income $7.2M, EPS $0.39; Dividend Up 20%
AI Summary
Avidia Bancorp reported strong second-quarter 2026 financial results, with net income rising 20% quarter-over-quarter to $7.2 million, or $0.39 per share. The company also announced a 20% increase in its quarterly cash dividend to $0.06 per share. Key performance indicators improved, including a higher return on assets of 1.04% and an improved efficiency ratio of 65.3%.
Key Highlights
- Q2 2026 net income rose 20% quarter-over-quarter to $7.2 million ($0.39 EPS).
- Quarterly cash dividend increased 20% to $0.06 per share.
- Net interest margin increased 3 basis points to 3.64%.
- Return on assets improved 18 basis points to 1.04%.
- Efficiency ratio improved to 65.3% from 67.2%.
- Total assets were $2.78 billion, a 1% decrease from prior quarter.
- Deposits grew 0.3% to $2.15 billion.
Price Impact
More from AVBC