Avidbank Holdings, Inc.

Avidbank Holdings, Inc. announced the appointment of Jonathan M. Dale as President of both the Company and its subsidiary, Avidbank, effective August 3, 2026. Mark D. Mordell will continue as Chairman and Chief Executive Officer, no longer serving as President. Mr. Dale, a seasoned banking executive with nearly 30 years of experience, previously held senior leadership roles at Umpqua Bank. His compensation package includes an annual base salary of $625,000, eligibility for a bonus up to 100% of his base salary, and a restricted stock award valued at $500,000.

Avidbank Holdings, Inc. reported Q2 2026 net income of $7.6 million, or $0.71 per diluted share, compared to $9.0 million ($0.84 per diluted share) in Q1 2026 and $5.8 million ($0.75 per diluted share) in Q2 2025. Adjusted net income for the quarter was $8.2 million, or $0.76 per diluted share, excluding a $2.6 million litigation settlement expense and $1.3 million BOLI income. The company saw strong growth in period-end loans, up 16% year-over-year, and deposits, up 16% year-over-year, while book value per share increased to $26.97.

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.

Avidbank Holdings, Inc. reported net income of $9.0 million, or $0.84 per diluted share, for the first quarter of 2026, marking a significant increase from both the prior quarter and the same period last year. The company achieved improved profitability metrics, including a higher return on average assets of 1.46% and an expanded net interest margin of 4.38%. Additionally, the efficiency ratio improved to 50.35%, and asset quality showed improvement with non-performing assets decreasing to 0.63% of total assets. The company also repurchased 25,000 shares of its common stock.