Avidia Bancorp, Inc. Reports Fourth Quarter and Annual 2025 Financial Results, Declares Quarterly Cash Dividend

Avidia Bancorp, Inc. Reports Fourth Quarter and Annual 2025 Financial Results, Declares Quarterly Cash Dividend Avidia Bancorp, Inc. (the “Company”) (NYSE: “AVBC”), the holding company of Avidia Bank, today reported fourth quarter and annual 2025 consolidated financial results. Net income for the fourth quarter of 2025 was $5.3 million, or $0.29 per share, compared to net income of $3.5 million for the fourth quarter of 2024. For the year ended December 31, 2025, the net loss was $3.3 million, or ($0.18) per share, compared to net income of $11.5 million for the year ended December 31, 2024. The Company also announced today the declaration of a quarterly cash dividend of $0.05 per share on its outstanding shares of common stock, payable on or about February 26, 2026, to stockholders of record as of the close of business on February 17, 2026. This is the Company’s initial cash dividend payment following its initial public stock offering in July 2025. “Our primary objective of deploying our newly issued capital in a disciplined manner was reflected in fourth quarter results.” said Robert Cozzone, President and Chief Executive Officer. “Growth across most commercial loan categories was fully funded with core deposits growth, leading to net interest margin expansion. In addition, solid earnings for the quarter contributed to 2.1% growth in tangible book value per share. We are also pleased to announce the initiation of our first quarterly dividend.” SELECTED FOURTH QUARTER FINANCIAL HIGHLIGHTS Net income was $5.3 million, or $0.29 per share, for the fourth quarter.Net interest margin increased quarter-over-quarter by 11 basis points to 3.54%.Efficiency ratio of 67.2% continues to improve over prior periods.Book value per share and tangible book value per share (non-GAAP) increased to $18.88 and $18.28, respectively. See the non-GAAP reconciliation at the end of this document for further information. BALANCE SHEET: Total assets were $2.84 billion at December 31, 2025, increasing $50.1 million, or 1.8%, from September 30, 2025. Total cash and cash equivalents increased by $33.6 million, or 30.0%, to $145.5 million from $111.9 million in the prior quarter, primarily as a result of $48.7 million in deposit growth, partially offset by loan growth of $23.7 million.Total loans increased by $23.7 million, or 1.0%, to $2.30 billion, from $2.27 billion in the prior quarter. Moderate growth was seen across most segments, and was led by increases of $8.5 million, or 1.6%, in commercial real estate loans and $8.5 million, or 1.7%, in condominium association loans.Loan exposure related to non-medical office space at December 31, 2025 was $89.3 million or 3.9% of gross loans. When excluding owner-occupied, total non-medical office exposure was $71.4 million.Deposits increased by $48.7 million, or 2.3%, to $2.13 billion from $2.08 billion in the prior quarter, driven primarily by growth within the wholesale payments business. NOW accounts grew $62.3 million, non-interest-bearing demand accounts increased $17.0 million and savings accounts were also up $8.4 million. This growth was offset by decreases in money market accounts of $28.0 million and certificates of deposits of $10.9 million.Total shareholders’ equity increased by $7.0 million, or 1.9%, to $379.0 million from $372.0 million in the prior quarter, primarily the result of net income of $5.3 million and a $1.6 million increase in accumulated other comprehensive income.Shareholders' equity to total assets was 13.36% as of December 31, 2025, compared to 13.35% at the prior quarter-end. Tangible shareholders' equity to tangible assets (non-GAAP) was 12.99% compared to 12.98% for these respective dates. Total assets at December 31, 2025 increased $180.6 million, or 6.8% from December 31, 2024. Total loans increased $100.3 million, or 4.6%, from $2.20 billion at December 31, 2024. Growth was seen across most segments, and was led by increases of $50.7 million, or 10.5%, in commercial real estate loans and $20.8 million, or 24.8%, in multi-family loans.Deposits increased by $61.5 million, or 3.0%, from $2.07 billion at December 31, 2024, driven primarily by growth within the wholesale payments business. NET INTEREST INCOME Net interest income was $23.6 million for the quarter ended December 31, 2025, compared to $23.4 million for the prior quarter, an increase of $177 thousand, or 0.8%. The net interest margin expanded 11 basis points to 3.54% for the quarter from 3.43% in the prior quarter. The yield on interest-earning assets increased by 9 basis points to 5.06% as reinvestment of cash flow of fixed rate loans continue to reprice upward.The cost of deposits increased by 2 basis points to 1.35% from 1.33% in the prior quarter as the previous quarter benefited from low-cost deposits associated with funds held at the Bank related to the subscription offering. Net interest income was $86.5 million for the year ended December 31, 2025, compared to $73.3 million for the year ended December 31, 2024, an increase of $13.2 million, or 18.1%. The net interest margin expanded 37 basis points to 3.29% for the year ended December 31, 2025, from 2.92% for the year ended December 31, 2024. NON-INTEREST INCOME Noninterest income was $3.7 million for the quarter ended December 31, 2025, compared to $4.5 million for the prior quarter, representing a decrease of $810 thousand, or 17.9%. Net loss on sale of securities available for sale was $218 thousand from the disposal of $1.3 million in low performing investments.Payment processing income was $1.7 million, compared to $1.9 million for the prior quarter, representing a decrease of $137 thousand due to lower activity.Other non-interest income was $528 thousand, compared to $999 thousand in the prior quarter, representing a decrease of $471 thousand. The decrease was related to a $128 thousand write-down of our mortgage servicing asset as well as a $221 thousand loss on the disposition of fixed assets. Noninterest income was flat at $17.0 million for the years ended December 31, 2025 and 2024 as lower mortgage banking income was offset by lower loss on sales of available for sale and equity securities. NON-INTEREST EXPENSE Noninterest expense was $18.4 million for the quarter ended December 31, 2025, compared to $28.4 million for the prior quarter, representing a decrease of $10.0 million, or 35.3%. Data processing expense increased $1.0 million to $3.3 million, which was primarily the result of an increase of $460 thousand in core processing due to favorable billing adjustments in the prior quarter as well as an increase of $263 thousand in software licensing expense related to the Company’s continued investment in technology.Deposit insurance expense decreased to $217 thousand from $651 thousand, which was the result of a favorable adjustment to the accrual of FDIC expense and related to an increase in the Bank’s total capital levels.Other general and administrative expenses decreased $9.9 million to $1.8 million, primarily due to the $10.0 million contribution to the Avidia Bank Charitable Foundation, Inc, in the prior quarter. Noninterest expense was $87.8 million for the year ended December 31, 2025, compared to $73.1 million for the year ended December 31, 2024, representing an increase of $14.7 million, or 20.1%. Other general and administrative expenses increased $8.8 million to $17.5 million, primarily due to the $10.0 million contribution to the Avidia Bank Charitable Foundation, Inc, during 2025.Salaries and benefits increased $5.0 million primarily due to $1.1 million in termination costs associated with the bank’s long term incentive plan, $1.1 million in costs associated with the installation of the bank’s employee stock ownership plan and $1.3 million of an increase in salaries. INCOME TAXES Income tax expense for the quarter ended December 31, 2025, was $2.4 million, compared to an income tax benefit of $1.0 million in the prior quarter. Income tax benefit for the year ended December 31, 2025, was $2.4 million, compared to an income tax expense of $3.9 million for the year ended December 31, 2024. ASSET QUALITY The allowance for credit losses was $22.0 million as of December 31, 2025, or 0.96% of total loans, compared to $24.3 million, or 1.07% of total loans at September 30, 2025. The Company recorded provisions for credit losses on loans of $1.4 million in the fourth quarter.The Company recorded net charge-offs of $3.7 million, or 0.65% annualized during the quarter ended December 31, 2025, compared to 0.11% in the quarter ended September 30, 2025 as the Company deemed balances on previously recorded non-performing loans as uncollectable.Non-performing loans totaled $20.2 million as of December 31, 2025, an increase of $2.6 million from the quarter ended September 30, 2025, primarily due to an increase of $6.1 million in non-performing commercial real estate loans, offset by the decrease of $1.4 million non-performing commercial loans and another $2.5 million decrease in non-performing construction loans.Total non-accrual loans to total loans was 0.88% as of December 31, 2025, compared to 0.77% as of September 30, 2025.The collateral for a $25.0 million land loan for the development of a life sciences facility that was charged down by $16.7 million in the first quarter of 2025 was sold at foreclosure auction in January 2026. Though the sale has yet to close, the Company used the sale price to record an additional charge-off of $2.5 million in the fourth quarter. A specific reserve had been established in the third quarter so the impact on the provision for credit losses was reduced. ABOUT AVIDIA BANCORP, INC. Avidia Bancorp, Inc. is the bank holding company of Avidia Bank. Avidia Bank is a Massachusetts-chartered stock savings bank. With headquarters in Hudson, Massachusetts, it also operates nine full-service banking offices in western Middlesex County and eastern Worcester County, in Massachusetts. NON-GAAP FINANCIAL MEASURES This document contains certain non-GAAP financial measures in addition to results presented in accordance with U.S. Generally Accepted Accounting Principles (“GAAP”). These non-GAAP measures are intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and financial condition. Non-GAAP financial measures are not a substitute for GAAP measures; they should be read and used in conjunction with the Company’s GAAP financial information. A reconciliation of non-GAAP financial measures to GAAP measures is provided at the end of this document. In all cases, it should be understood that non-GAAP measures do not depict amounts that accrue directly to the benefit of shareholders. An item which management excludes when computing non-GAAP operating earnings can be of substantial importance to the Company’s results for any particular quarter or year. The Company’s non-GAAP operating earnings information set forth is not necessarily comparable to non- GAAP information which may be presented by other companies. Each non-GAAP measure used by the Company in this document as supplemental financial data should be considered in conjunction with the Company’s GAAP financial information. The Company adjusts certain equity related measures to exclude intangible assets due to the importance of these measures to the investment community. FORWARD-LOOKING STATEMENTS Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other similar expressions which do not relate to historical matters. Although we believe that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of future performance. You should not place undue reliance on forward-looking statements because they are subject to significant risks, uncertainties and other factors which are, in some cases, beyond our control. Our actual results could differ materially from those presented in the forward-looking statements as a result of, among other factors, changes in general business and economic conditions nationwide and in our local markets, including changes which adversely affect borrowers' ability to service and repay loans; changes in customer behavior due to political, business and economic conditions, including inflation; conditions in the capital and debt markets; reductions in net interest income resulting from interest rate volatility and changes in the balances and mix of our loans and deposits; changes in market interest rates and real estate values; decreases in the value of securities and other assets or in deposit levels necessitating increased borrowing to fund loans and investments; competition from other financial institutions; changes in legislation or regulation and accounting principles, policies and guidelines; cybersecurity incidents; fraud; natural disasters; the risk that we may be unsuccessful in implementing our business strategy; and the other risks and uncertainties disclosed in Avidia Bancorp, Inc.’s definitive prospectus dated May 13, 2025, as filed the U.S. Securities and Exchange Commission. Forward looking statements speak only as of the date of this release, and we do not undertake any obligation to update or revise any of them to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events, except as may be required by applicable law or regulation. Avidia Bancorp, Inc.Selected Consolidated Financial Highlights (Unaudited) At or for the Quarters Ended At or for the Years Ended (Dollars in thousands, except per share data) Dec. 31, 2025 Sept. 30, 2025 Dec. 31, 2024 Dec. 31, 2025 Dec. 31, 2024 Earnings Data:Net interest income $ 23,609 $ 23,432 $ 19,082 $ 86,541 $ 73,260 Total non-interest income 3,716 4,526 3,159 17,024 17,019 Total non-interest expense 18,361 28,369 18,139 87,805 73,097 Provision for credit losses 1,217 1,540 (686 ) 21,443 1,779 Income (loss) before income tax expense 7,747 (1,951 ) 4,788 (5,683 ) 15,403 Net income (loss) 5,333 (907 ) 3,509 (3,289 ) 11,484 Per-Share Data:Earnings (loss) per share, basic $ 0.29 $ (0.05 ) N/A $ (0.18 ) N/A Earnings (loss) per share, diluted 0.29 (0.05 ) N/A $ (0.18 ) N/A Book value per share 18.88 18.53 N/A 18.88 N/A Tangible book value per share (non-GAAP) 18.28 17.94 N/A 18.28 N/A Performance Ratios:Return on average assets (annualized) 0.77 % -0.13 % 0.53 % -0.12 % 0.44 % Return on average equity (annualized) 5.66 -1.14 8.07 -1.22 6.18 Net interest margin(1) 3.54 3.43 3.00 3.29 2.92 Cost of deposits 1.35 1.33 1.62 1.40 1.63 Yield on loans 5.34 5.21 5.14 5.23 5.15 Interest rate spread(2) 3.04 3.02 2.48 2.85 2.41 Noninterest income as a percentage of average assets 0.54 0.64 0.48 0.62 0.65 Noninterest expense as a percentage of average assets 2.66 4.02 2.75 3.20 2.78 Efficiency ratio(3) 67.19 101.47 81.56 84.78 80.97 Average interest-earning assets as a percentage of average interest-bearing liabilities 132.56 127.08 126.46 126.47 125.24 Balance Sheet, (end of period):Total assets $ 2,837,090 $ 2,787,010 $ 2,656,539 $ 2,837,090 $ 2,656,539 Total earning assets 2,722,357 2,669,662 2,543,243 2,722,357 2,543,243 Total loans 2,298,466 2,274,747 2,198,200 2,298,466 2,198,200 Total deposits 2,128,283 2,079,578 2,066,832 2,128,283 2,066,832 Total shareholders' equity 378,994 372,037 193,827 378,994 193,827 Asset Quality:Allowance for credit losses $ 22,018 $ 24,284 $ 21,741 $ 22,018 $ 21,741 Allowance for credit losses as a percentage of total loans 0.96 % 1.07 % 0.99 % 0.96 0.99 Allowance for credit losses as a percentage of non-performing loans 109.03 137.79 543.93 109.03 543.93 Allowance for credit losses as a percentage of non-accrual loans 109.03 137.79 543.93 109.03 543.93 Non-accrual loans as a percentage of total loans 0.88 0.77 0.18 0.88 0.18 Net (charge-offs) recoveries as a percentage of average loans (annualized) (0.65 ) (0.11 ) 0.00 (0.96 ) (0.05 ) Total non-accruing assets as a percentage of total assets 0.71 0.63 0.15 0.71 0.15 Total non-performing assets as a percentage of total assets 0.71 0.63 0.15 0.71 0.15 Capital Ratios:Total shareholders' equity as a percentage of total assets 13.36 % 13.35 % 7.30 % 13.36 % 7.30 % Tangible shareholders' equity as a percentage of tangible assets (non-GAAP) 12.99 12.98 6.88 12.99 6.88 Total capital as a percentage of risk-weighted assets(4) 19.66 19.89 12.24 19.66 12.24 Tier 1 capital as a percentage of risk-weighted assets(4) 17.35 17.42 9.83 17.35 9.83 Common equity tier 1 capital as a percentage of risk-weighted assets(4) 17.35 17.42 9.83 17.35 9.83 Tier 1 capital as a percentage of average assets(4) 13.84 13.11 8.72 13.84 8.72 (1) Represents net interest income as a percentage of average interest-earning assets.(2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities.(3) Represents noninterest expenses divided by the sum of net interest income and noninterest income.(4) Presented as projected for December 31, 2025 and actual for the remaining dates.Avidia Bancorp, Inc.Consolidated Balance Sheets (Unaudited)As ofDec. 31, 2025 Change From(Dollars in thousands)Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024Sept. 30, 2025Dec. 31, 2024AssetsCash and due from banks $ 15,903 $ 15,484 $ 15,660 $ 419 2.7 % $ 243 1.6 % Short-term investments 129,551 96,384 46,784 33,167 34.4 82,767 176.9 Total cash and cash equivalents 145,454 111,868 62,444 33,586 30.0 83,010 132.9 Securities available for sale, at fair value 269,139 269,308 265,933 (169 ) (0.1 ) 3,206 1.2 Securities held to maturity, at amortized cost 13,000 15,747 16,747 (2,747 ) (17.4 ) (3,747 ) (22.4 ) Total securities 282,139 285,055 282,680 (2,916 ) (1.0 ) (541 ) (0.2 ) Federal Home Loan Bank stock, at cost 11,801 11,731 14,729 70 0.6 (2,928 ) (19.9 ) Loans held for sale 400 1,745 850 (1,345 ) (77.1 ) (450 ) (52.9 ) Total loans 2,298,466 2,274,747 2,198,200 23,719 1.0 100,266 4.6 Less: Allowance for credit losses (22,018 ) (24,284 ) (21,741 ) 2,266 (9.3 ) (277 ) 1.3 Net loans 2,276,448 2,250,463 2,176,459 25,985 1.2 99,989 4.6 Premises and equipment, net 29,183 29,270 28,498 (87 ) (0.3 ) 685 2.4 Bank-owned life insurance 36,660 36,375 35,526 285 0.8 1,134 3.2 Accrued interest receivable 8,537 8,141 8,897 396 4.9 (360 ) (4.0 ) Net deferred tax asset 10,372 10,832 12,795 (460 ) (4.2 ) (2,423 ) (18.9 ) Goodwill 11,936 11,936 11,936 - - - - Mortgage servicing rights 3,033 3,149 3,488 (116 ) (3.7 ) (455 ) (13.0 ) Other assets 21,127 26,445 18,237 (5,318 ) (20.1 ) 2,890 15.8 Total assets $ 2,837,090 $ 2,787,010 $ 2,656,539 $ 50,080 1.8 % $ 180,551 6.8 % LiabilitiesDeposits $ 2,128,283 $ 2,079,578 $ 2,066,832 $ 48,705 2.3 % $ 61,451 3.0 % Federal Home Loan Bank advances 260,000 260,000 325,000 - - (65,000 ) (20.0 ) Subordinated debt 27,815 27,778 27,679 37 0.1 136 0.5 Accrued expenses and other liabilities 41,998 47,617 43,201 (5,619 ) (11.8 ) (1,203 ) (2.8 ) Total liabilities $ 2,458,096 $ 2,414,973 $ 2,462,712 $ 43,123 1.8 % $ (4,616 ) (0.2 )% Shareholders' equity:Common Stock $ 201 $ 201 $ - $ - - % $ 201 - % Additional paid-in capital 194,899 195,029 - (130 ) (0.1 ) 194,899 - Unallocated ESOP common stock (15,258 ) (15,459 ) - 201 (1.3 ) (15,258 ) - Retained earnings 211,981 206,648 215,270 5,333 2.6 (3,289 ) (1.5 ) Accumulated other comprehensive loss (12,829 ) (14,382 ) (21,443 ) 1,553 (10.8 ) 8,614 (40.2 ) Total shareholders' equity $ 378,994 $ 372,037 $ 193,827 $ 6,957 1.9 % $ 185,167 95.5 % Total liabilities and shareholders' equity $ 2,837,090 $ 2,787,010 $ 2,656,539 $ 50,080 1.8 % $ 180,551 6.8 % Avidia Bancorp, Inc.Consolidated Loan and Deposit Analysis (Unaudited)Loan AnalysisAt or for the Quarters EndedDec. 31, 2025 Change From(Dollars in thousands)Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024Sept. 30, 2025Dec. 31, 2024Real estate loansHome equity and second mortgages $ 78,350 $ 76,027 $ 66,326 $ 2,323 3.1 % $ 12,024 18.1 % One to four family residential 518,225 521,606 511,495 (3,381 ) (0.6 ) 6,730 1.3 Commercial real estate 534,855 526,345 484,106 8,510 1.6 50,749 10.5 Commercial real estate multi-family 104,695 98,647 83,905 6,048 6.1 20,790 24.8 Construction & land 57,005 51,311 49,028 5,694 11.1 7,977 16.3 Total real estate loans 1,293,130 1,273,936 1,194,860 19,194 1.5 98,270 8.2 Commercial loansCommercial & industrial 491,765 495,263 499,920 (3,498 ) (0.7 ) (8,155 ) (1.6 ) Condominium associations 506,683 498,164 494,875 8,519 1.7 11,808 2.4 PPP loans 11 40 264 (29 ) (72.5 ) (253 ) (95.8 ) Total commercial loans 998,459 993,467 995,059 4,992 0.5 3,400 0.3 Consumer loansConsumer 3,877 4,274 5,060 (397 ) (9.3 ) (1,183 ) (23.4 ) Total consumer loans 3,877 4,274 5,060 (397 ) (9.3 ) (1,183 ) (23.4 ) Total loans 2,295,466 2,271,677 2,194,979 23,789 1.0 100,487 4.6 Allowance for credit losses (22,018 ) (24,284 ) (21,741 ) 2,266 (9.3 ) (277 ) 1.3 Net deferred loan costs 3,000 3,070 3,221 (70 ) (2.3 ) (221 ) (6.9 ) Loans, net $ 2,276,448 $ 2,250,463 $ 2,176,459 $ 25,985 1.2 % $ 99,989 4.6 % Deposit AnalysisAt or for the Quarters EndedDec. 31, 2025 Change From(Dollars in thousands)Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024Sept. 30, 2025Dec. 31, 2024Demand $ 359,819 $ 342,867 $ 355,087 $ 16,952 4.9 % $ 4,732 1.3 % NOW 770,350 708,096 683,548 62,254 8.8 86,802 12.7 Money market 250,062 278,095 250,878 (28,033 ) (10.1 ) (816 ) (0.3 ) Savings 425,400 417,010 386,759 8,390 2.0 38,641 10.0 Certificates of deposits 322,652 333,510 390,560 (10,858 ) (3.3 ) (67,908 ) (17.4 ) Total deposits $ 2,128,283 $ 2,079,578 $ 2,066,832 $ 48,705 2.3 % $ 61,451 3.0 % Avidia Bancorp, Inc.Consolidated Statements of Operations QTD (Unaudited)Three Months Ended Dec. 31, 2025 ChangeThree Months EndedFrom Three Months Ended(Dollars in thousands, except per share data)Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024Sept. 30, 2025Dec. 31, 2024Interest and dividend income:Loans, including fees $ 30,716 $ 29,727 $ 28,347 $ 989 3.3 % $ 2,369 8.4 % Securities 2,530 2,567 2,624 (37 ) (1.4 ) (94 ) (3.6 ) Other 512 1,588 495 (1,076 ) (67.8 ) 17 3.4 Total interest and dividend income 33,758 33,882 31,466 (124 ) (0.4 ) 2,292 7.3 Interest expense:Deposits 6,948 7,268 8,266 (320 ) (4.4 ) (1,318 ) (15.9 ) Federal Home Loan Bank advances 2,849 2,827 3,803 22 0.8 (954 ) (25.1 ) Subordinated debt 352 355 315 (3 ) (0.8 ) 37 11.7 Total interest expense 10,149 10,450 12,384 (301 ) (2.9 ) (2,235 ) (18.0 ) Net interest income: 23,609 23,432 19,082 177 0.8 4,527 23.7 Provision expense for credit losses - loans 1,440 1,480 138 (40 ) (2.7 ) 1,302 943.5 Provision expense (reversal) for credit losses - off-balance sheet credit exposures (223 ) 60 (824 ) (283 ) (471.7 ) 601 (72.9 ) Net interest income, after provision expense for credit losses 22,392 21,892 19,768 500 2.3 2,624 13.3 Non-interest income:Customer service fees 918 912 922 6 0.7 (4 ) (0.4 ) Net (loss) on sale of securities available for sale (218 ) - (1,876 ) (218 ) 100.0 1,658 (88.4 ) Net recognized gain on equity securities - - 64 - - (64 ) (100.0 ) Payment processing income 1,720 1,857 1,900 (137 ) (7.4 ) (180 ) (9.5 ) Income on bank-owned life insurance 285 279 257 6 2.2 28 10.9 Mortgage banking income 103 121 589 (18 ) (14.9 ) (486 ) (82.5 ) Investment commissions 380 358 357 22 6.1 23 6.4 Other 528 999 946 (471 ) (47.1 ) (418 ) (44.2 ) Total non-interest income 3,716 4,526 3,159 (810 ) (17.9 ) 557 17.6 Non-interest expense:Salaries and employee benefits 9,476 9,773 9,221 (297 ) (3.0 ) 255 2.8 Occupancy and equipment 1,658 1,933 1,941 (275 ) (14.2 ) (283 ) (14.6 ) Data processing 3,251 2,251 2,834 1,000 44.4 417 14.7 Professional fees 818 790 468 28 3.5 350 74.8 Payment processing 363 526 1,165 (163 ) (31.0 ) (802 ) (68.8 ) Deposit insurance 217 651 447 (434 ) (66.7 ) (230 ) (51.5 ) Advertising 408 423 310 (15 ) (3.5 ) 98 31.6 Telecommunications 91 81 93 10 12.3 (2 ) (2.2 ) Problem loan and foreclosed real estate, net 245 179 60 66 36.9 185 308.3 Other general and administrative 1,834 11,762 1,600 (9,928 ) (84.4 ) 234 14.6 Total non-interest expense 18,361 28,369 18,139 (10,008 ) (35.3 ) 222 1.2 Income (loss) before income tax expense 7,747 (1,951 ) 4,788 9,698 (497.1 ) 2,959 61.8 Income tax expense (benefit) 2,414 (1,044 ) 1,279 3,458 (331.2 ) 1,135 88.7 Net income (loss) $ 5,333 $ (907 ) $ 3,509 $ 6,240 (688.0 )% $ 1,824 52.0 % Share data:Weighted average common shares outstanding, basic 18,537 18,520 N/A 17 0.1 % N/A N/A Weighted average common shares outstanding diluted 18,537 18,520 N/A 17 0.1 N/A N/A Earnings (loss) per share, basic $ 0.29 $ (0.05 ) N/A $ 0.34 (687.5 ) N/A N/A Earnings (loss) per share, diluted $ 0.29 $ (0.05 ) N/A $ 0.34 (687.5 ) N/A N/A Avidia Bancorp, Inc.Consolidated Statements of Operations YTD (Unaudited)Years EndedYear Ended Dec. 31, 2025 Change(Dollars in thousands, except per share data)Dec. 31, 2025Dec. 31, 2024From Year Ended Dec. 31, 2024Interest and dividend income:Loans, including fees $ 117,542 $ 111,536 $ 6,006 5.4 % Securities 10,304 10,249 55 0.5 Other 2,736 1,948 788 40.5 Total interest and dividend income 130,582 123,733 6,849 5.5 Interest expense:Deposits 29,552 32,870 (3,318 ) (10.1 ) Federal Home Loan Bank advances 13,116 16,343 (3,227 ) (19.7 ) Subordinated debt 1,373 1,260 113 9.0 Total interest expense 44,041 50,473 (6,432 ) (12.7 ) Net interest income: 86,541 73,260 13,281 18.1 Provision expense for credit losses - loans 21,748 2,103 19,645 934.1 Provision (reversal) for credit losses - off-balance sheet credit exposures (305 ) (324 ) 19 (5.9 ) Net interest income, after provision expense for credit losses 65,098 71,481 (6,383 ) (8.9 ) Non-interest income:Customer service fees 3,570 3,637 (67 ) (1.8 ) Net (loss) on sale of securities available for sale (837 ) (4,234 ) 3,397 (80.2 ) Net recognized gain on equity securities - 2,597 (2,597 ) (100.0 ) Payment processing income 7,849 7,489 360 4.8 Income on bank-owned life insurance 1,132 927 205 22.1 Mortgage banking income 402 1,568 (1,166 ) (74.4 ) Investment commissions 1,400 1,393 7 - Other 3,508 3,642 (134 ) (3.7 ) Total non-interest income 17,024 17,019 5 0.0 Non-interest expense:Salaries and employee benefits 39,724 34,721 5,003 14.4 Occupancy and equipment 6,342 8,319 (1,977 ) (23.8 ) Data processing 13,183 10,123 3,060 30.2 Professional fees 3,356 2,288 1,068 46.7 Payment processing 2,863 4,230 (1,367 ) (32.3 ) Deposit insurance 2,281 2,481 (200 ) (8.1 ) Advertising 1,427 1,432 (5 ) (0.3 ) Telecommunications 360 383 (23 ) (6.0 ) Problem loan and foreclosed real estate, net 731 349 382 109.5 Other general and administrative 17,538 8,771 8,767 100.0 Total non-interest expense 87,805 73,097 14,708 20.1 (Loss) income before income tax expense (5,683 ) 15,403 (21,086 ) (136.9 ) Income tax (benefit) expense (2,394 ) 3,919 (6,313 ) (161.1 ) Net (loss) income $ (3,289 ) $ 11,484 $ (14,773 ) (128.6 )% Share data:Weighted average common shares outstanding, basic 18,531 N/A N/A N/A Weighted average common shares outstanding diluted 18,531 N/A N/A N/A (Loss) per share, basic $ (0.18 ) N/A N/A N/A (Loss) per share, diluted $ (0.18 ) N/A N/A N/A Avidia Bancorp, Inc.Average Balances and Average Yields And Costs (Unaudited)For the Quarters EndedDec. 31, 2025Sept. 30, 2025Dec. 31, 2024(Dollars in thousands) Average Outstanding Balance Interest Average Yield/Rate Average Outstanding Balance Interest Average Yield/Rate Average Outstanding Balance Interest Average Yield/Rate Interest-earning assets:Short-term investments $ 72,847 $ 512 2.79 % $ 150,428 $ 1,588 4.19 % $ 54,300 $ 495 3.63 % Securities 295,120 2,530 3.40 292,031 2,567 3.49 286,897 2,624 3.64 Loans 2,280,267 30,716 5.34 2,264,095 29,727 5.21 2,192,961 28,347 5.14 Total interest-earning assets 2,648,234 33,758 5.06 2,706,554 33,882 4.97 2,534,158 31,466 4.94 Noninterest-earning assets 107,874 116,574 106,087 Total assets $ 2,756,108 $ 2,823,128 $ 2,640,245 Interest-bearing liabilities:NOW accounts $ 684,815 $ 804 0.47 % $ 822,525 $ 833 0.40 % $ 583,135 $ 774 0.53 % Money market accounts 277,852 898 1.28 274,203 918 1.33 269,584 891 1.32 Regular and other savings accounts 419,232 2,278 2.16 411,941 2,407 2.32 367,740 2,176 2.35 Certificates of deposit 328,333 2,968 3.59 334,638 3,110 3.69 399,508 4,425 4.41 Total interest-bearing deposits 1,710,231 6,948 1.61 1,843,307 7,268 1.56 1,619,967 8,266 2.03 FHLB advances and other borrowings(1) 259,702 2,849 4.35 258,782 2,827 4.33 356,313 3,803 4.25 Subordinated debt 27,791 352 5.03 27,753 355 5.07 27,654 315 4.53 Total interest-bearing liabilities 1,997,724 10,149 2.02 2,129,842 10,450 1.95 2,003,934 12,384 2.46 Noninterest-bearing demand deposits 349,454 341,083 422,435 Other noninterest-bearing liabilities 32,301 34,777 39,885 Total liabilities 2,379,478 2,505,702 2,466,254 Total shareholders' equity 376,630 317,426 173,991 Total liabilities and capital $ 2,756,108 $ 2,823,128 $ 2,640,245 Net interest income $ 23,609 $ 23,432 $ 19,082 Net interest rate spread(2) 3.04 % 3.02 % 2.48 % Net interest-earning assets(3) $ 650,510 $ 576,712 $ 530,224 Net interest margin(4) 3.54 % 3.43 % 3.00 % Cost of deposits 1.35 % 1.33 % 1.62 % Average interest-earning assets to interest-bearing liabilities 132.56 % 127.08 % 126.46 % (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet.(2) 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.(3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities.(4) Net interest margin represents net interest income divided by average total interest-earning assets.Avidia Bancorp, Inc.Asset Quality Data (Unaudited)At or for the Quarters Ended(Dollars in thousands)Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024Non-Performing AssetsNon-accrual loans:Residential $ 720 $ 387 $ 1,350 Construction 6,478 8,930 - Commercial real estate 6,126 - - Commercial 6,870 8,307 2,647 Total non-accrual loans $ 20,194 $ 17,624 $ 3,997 Other real estate owned - - - Total non-performing assets $ 20,194 $ 17,624 $ 3,997 Total non-accrual loans to total loans 0.88 % 0.77 % 0.18 % Total non-performing assets to total loans 0.88 0.77 0.18 Allowance for Credit LossesAllowance for credit losses, beginning of period $ 24,284 $ 23,425 $ 21,585 Charged-off loans (3,790 ) (844 ) (59 ) Recoveries on charged-off loans 84 223 77 Net loan (charge-offs) recoveries (3,706 ) (621 ) 18 Provision expense for credit losses 1,440 1,480 138 Allowance for credit losses, end of period $ 22,018 $ 24,284 $ 21,741 Allowance for credit losses to total loans 0.96 % 1.07 % 0.99 % Allowance for credit losses to non-accrual loans 109.03 137.79 543.93 Allowance for credit losses to non-performing loans 109.03 137.79 543.93 Net loans (charge-offs) recoveriesResidential $ 1 $ 2 $ 1 Construction (2,454 ) - - Commercial real estate - 135 25 Commercial (1,260 ) (766 ) (15 ) Consumer 7 8 7 Total net loan (charge-offs) recoveries $ (3,706 ) $ (621 ) $ 18 Net loan (charge-offs) recoveries to average loans (annualized) (0.65 )% (0.11 )% - % Avidia Bancorp, Inc.Non-GAAP Reconciliation (Unaudited)As of(Dollars in thousands, except per share data)Dec. 31, 2025Sept. 30, 2025Dec. 31, 2024Tangible shareholders' equity:Total shareholders' equity (GAAP) $ 378,994 $ 372,037 $ 193,827 Less: Goodwill 11,936 11,936 11,936 Tangible shareholders' equity (non-GAAP) $ 367,058 $ 360,101 $ 181,891 Tangible assets:Total assets (GAAP) $ 2,837,090 $ 2,787,010 $ 2,656,539 Less: Goodwill 11,936 11,936 11,936 Tangible assets (non-GAAP) $ 2,825,154 $ 2,775,074 $ 2,644,603 Shareholders' equity to assets (GAAP) 13.36 % 13.35 % 7.30 % Tangible shareholders' equity to tangible assets (non-GAAP) 12.99 % 12.98 % 6.88 % Common shares outstanding, including unallocated ESOP shares 20,076 20,076 N/A Book value per common share (GAAP) $ 18.88 $ 18.53 N/A Tangible book value per common share (non-GAAP) $ 18.28 $ 17.94 N/A Robert D. Cozzone President and Chief Executive Officer Avidia Bancorp, Inc. (800) 508-2265 Source: Avidia Bancorp, Inc.