Avidia Bancorp, Inc. Reports First Quarter 2026 Financial Results, Declares Quarterly Cash Dividend

Avidia Bancorp, Inc. Reports First Quarter 2026 Financial Results, Declares Quarterly Cash Dividend Avidia Bancorp, Inc. (the “Company”) (NYSE: “AVBC”), the holding company of Avidia Bank, today reported first quarter 2026 consolidated financial results. Net income for the first quarter of 2026 was $6.0 million, or $0.32 per share, compared to net income of $5.3 million, or $0.29 per share, for the fourth quarter of 2025. 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 May 28, 2026, to stockholders of record as of the close of business on May 19, 2026. CEO Robert Cozzone stated, “Earnings per share growth of 10.3% in the first quarter reflects our focus on improving profitability through good financial discipline. Although loan growth was seasonally slow, the ongoing efforts of my colleagues led to improvements in most other performance measures.” SELECTED FIRST QUARTER 2026 FINANCIAL HIGHLIGHTS Net income was $6.0 million, or $0.32 per share.Net interest margin increased quarter-over-quarter by 7 basis points to 3.61%.Return on average assets increased quarter-over-quarter by 9 basis points to 0.86%.Efficiency ratio for the quarter was 67.2%.Book value per share and tangible book value per share (non-GAAP) increased to $19.09 and $18.49, respectively. See the non-GAAP reconciliation at the end of this document for further information. BALANCE SHEET: Total assets were $2.81 billion at March 31, 2026, decreasing $30.0 million, or 1.1%, from December 31, 2025. Total cash and cash equivalents decreased by $52.4 million, or 36.0%, to $93.0 million from $145.5 million in the prior quarter. This decrease was primarily the result of net paydowns of Federal Home Loan Bank advances and the reinvestment of cash into securities and bank owned life insurance, offset by deposit growth and the decline in loans.Total available for sale securities increased by $26.8 million, or 10.0%, to $295.9 million from $269.1 million in the prior quarter, primarily the result of purchases of $43.7 million, offset by paydowns of $14.8 million.Total loans decreased by $13.9 million, or 0.6%, to $2.28 billion, from $2.30 billion in the prior quarter, primarily the result of decreases in construction and land loans of $9.5 million and condominium association loans of $9.2 million.Loan balances reflect the final sale and closing of the life sciences loan that was charged down by $16.7 million in the first quarter of 2025.Loan exposure related to non-medical office space at March 31, 2026 was $88.6 million or 3.9% of gross loans. When excluding owner-occupied, total non-medical office exposure was $71.0 million.Deposits increased by $17.9 million, or 0.8%, to $2.15 billion from $2.13 billion in the prior quarter. Non-interest-bearing demand accounts increased $28.7 million, money market accounts increased $12.7 million, savings accounts increased $9.9 million and certificates of deposits increased $3.2 million. This growth was offset by a decrease in NOW accounts of $36.7 million.Federal Home Loan Bank advances decreased by $55.0 million, or 21.2%, to $205.0 million from $260.0 million in the prior quarter, as a result of net paydowns.Total shareholders’ equity increased by $4.2 million, or 1.1%, to $383.2 million from $379.0 million in the prior quarter, primarily the result of net income of $6.0 million, offset by dividends paid and unrealized losses on available for sale securities recognized in other comprehensive income during the quarter.Shareholders' equity to total assets was 13.7% as of March 31, 2026, compared to 13.4% at the prior quarter-end. Tangible shareholders' equity to tangible assets (non-GAAP) was 13.3% compared to 13.0% for these respective dates. NET INTEREST INCOME Net interest income was $24.0 million for the quarter ended March 31, 2026, compared to $23.6 million for the prior quarter, an increase of $373 thousand, or 1.6%. The net interest margin expanded 7 basis points to 3.61% for the quarter from 3.54% in the prior quarter. The yield on average interest-earning assets decreased by 1 basis point to 5.05%.Average short-term investments were up $38.9 million from the previous quarter.The yield on securities increased by 7 basis points to 3.47% and the yield on loans increased by 3 basis points to 5.37%.The cost of deposits decreased by 4 basis points to 1.31% from 1.35% in the prior quarter. NON-INTEREST INCOME Noninterest income was $4.3 million for the quarter ended March 31, 2026, compared to $3.7 million for the prior quarter, representing an increase of $570 thousand, or 15.3%. Payment processing income was $1.9 million, compared to $1.7 million for the prior quarter, representing an increase of $189 thousand due to increased activity.Mortgage banking income was $263 thousand, compared to $103 thousand for the prior quarter, representing an increase of $160 thousand. NON-INTEREST EXPENSE Noninterest expense was $19.0 million for the quarter ended March 31, 2026, compared to $18.4 million for the prior quarter, representing an increase of $631 thousand, or 3.4%. Salaries and employee benefits increased $724 thousand to $10.2 million. This increase included the seasonal increase of employee payroll taxes from the annual FICA reset and an increased annual short-term incentive accrual.Data processing expense decreased $361 thousand to $2.9 million due to continued billing adjustments and one time expense in the prior quarter.Occupancy and equipment expenses were up $170 thousand to $1.8 million due primarily to snow removal expense.Professional fees increased $290 thousand to $1.1 million, primarily due to the engagement of a third party to help implement a process improvement program. INCOME TAXES Income tax expense for the quarter ended March 31, 2026, was $2.2 million, compared to an income tax expense of $2.4 million in the prior quarter. ASSET QUALITY The allowance for credit losses was $22.8 million as of March 31, 2026, or 1.00% of total loans, compared to $22.0 million, or 0.96% of total loans at December 31, 2025. The Company recorded provisions for credit losses on loans of $859 thousand in the first quarter.The Company recorded net charge-offs of $116 thousand, or 0.02% annualized, during the quarter ended March 31, 2026, compared to 0.65% in the quarter ended December 31, 2025.Nonperforming loans totaled $13.6 million as of March 31, 2026, a decrease of $6.6 million from the quarter ended December 31, 2025, primarily due to a decrease of $6.5 million in nonperforming construction loans.Total nonperforming loans to total loans was 0.60% as of March 31, 2026, compared to 0.88% as of December 31, 2025. 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. For more information, please visit https://www.AvidiaBank.com. 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 Form 10-K, and updated by our Quarterly Report on Form 10-Q, and other filings submitted to 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(Dollars in thousands, except per share data)March 31, 2026December 31, 2025March 31, 2025Earnings Data:Net interest income $ 23,982 $ 23,609 $ 19,211 Total non-interest income 4,286 3,716 3,727 Total non-interest expense 18,992 18,361 21,831 Provision for credit losses 1,089 1,217 17,616 Income (loss) before income tax expense 8,187 7,747 (16,509 ) Net income (loss) 5,996 5,333 (11,587 ) Per-Share Data:Earnings per share, basic $ 0.32 $ 0.29 N/A Earnings per share, diluted 0.32 0.29 N/A Book value per share 19.09 18.88 N/A Tangible book value per share (non-GAAP)(1) 18.49 18.28 N/A Performance Ratios:Return on average assets (annualized) 0.86 % 0.77 % (1.71 )% Return on average equity (annualized) 6.36 5.66 (24.91 ) Return on average tangible common equity (non-GAAP)(1) 6.57 5.85 (25.05 ) Net interest margin(2) 3.61 3.54 3.04 Interest rate spread(3) 3.12 3.04 2.62 Yield on loans 5.37 5.34 5.16 Cost of deposits 1.31 1.35 1.50 Noninterest income as a percentage of average assets 0.62 0.54 0.56 Noninterest expense as a percentage of average assets 2.74 2.66 3.27 Efficiency ratio(4) 67.19 67.19 95.17 Total loans as a percentage of total deposits 106.45 108.00 104.60 Average interest-earning assets as a percentage of average interest-bearing liabilities 133.43 132.56 122.65 Balance Sheet, (end of period):Total assets $ 2,807,058 $ 2,837,090 $ 2,706,631 Total earning assets 2,677,277 2,722,357 2,585,965 Total loans 2,284,555 2,298,466 2,233,033 Total deposits 2,146,160 2,128,283 2,134,831 Total shareholders' equity 383,162 378,994 186,057 Asset Quality:Allowance for credit losses $ 22,761 $ 22,018 $ 21,849 Allowance for credit losses as a percentage of total loans 1.00 % 0.96 % 0.98 % Allowance for credit losses as a percentage of nonperforming loans 167.02 108.96 183.98 Nonperforming loans as a percentage of total loans 0.60 0.88 0.53 Net (charge-offs) recoveries as a percentage of average loans (annualized) (0.02 ) (0.65 ) (3.11 ) Total nonperforming assets as a percentage of total assets 0.49 0.71 0.44 Capital Ratios:Total shareholders' equity as a percentage of total assets 13.65 % 13.36 % 6.87 % Tangible shareholders' equity as a percentage of tangible assets (non-GAAP)(1) 13.28 12.99 6.46 Total capital as a percentage of risk-weighted assets(5) 19.75 19.66 11.43 Common equity tier 1 capital as a percentage of risk-weighted assets(5) 17.42 17.35 9.03 Tier 1 capital as a percentage of average assets(5) 13.74 13.84 7.10 (1) Reconciliation of non-GAAP financial measures appear on page 11.(2) Represents net interest income as a percentage of average interest-earning assets.(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.(4) Represents noninterest expenses divided by the sum of net interest income and noninterest income.(5) Presented as projected for March 31, 2026 and actual for the remaining dates.Avidia Bancorp, Inc.Consolidated Balance Sheets (Unaudited)As ofMarch 31, 2026 Change From(Dollars in thousands)March 31, 2026December 31, 2025March 31, 2025December 31, 2025March 31, 2025AssetsCash and due from banks $ 19,231 $ 15,903 $ 24,282 $ 3,328 20.9 % $ (5,051 ) (20.8 )% Short-term investments 73,793 129,551 58,800 (55,758 ) (43.0 ) 14,993 25.5 Total cash and cash equivalents 93,024 145,454 83,082 (52,430 ) (36.0 ) 9,942 12.0 Securities available for sale, at fair value 295,924 269,139 261,946 26,785 10.0 33,978 13.0 Securities held to maturity, at amortized cost 13,000 13,000 16,746 - 0.0 (3,746 ) (22.4 ) Total securities 308,924 282,139 278,692 26,785 9.5 30,232 10.8 Federal Home Loan Bank stock, at cost 9,817 11,801 14,729 (1,984 ) (16.8 ) (4,912 ) (33.3 ) Loans held for sale 188 400 711 (212 ) (53.0 ) (523 ) (73.6 ) Total loans 2,284,555 2,298,466 2,233,033 (13,911 ) (0.6 ) 51,522 2.3 Less: Allowance for credit losses (22,761 ) (22,018 ) (21,849 ) (743 ) 3.4 (912 ) 4.2 Net loans 2,261,794 2,276,448 2,211,184 (14,654 ) (0.6 ) 50,610 2.3 Premises and equipment, net 29,029 29,183 29,020 (154 ) (0.5 ) 9 0.0 Bank-owned life insurance 46,929 36,660 35,805 10,269 28.0 11,124 31.1 Accrued interest receivable 8,683 8,537 8,802 146 1.7 (119 ) (1.4 ) Net deferred tax asset 10,584 13,134 11,738 (2,550 ) (19.4 ) (1,154 ) (9.8 ) Goodwill 11,936 11,936 11,936 - - - - Mortgage servicing rights 3,086 3,033 3,289 53 1.7 (203 ) (6.2 ) Other assets 23,064 18,365 17,643 4,699 25.6 5,421 30.7 Total assets $ 2,807,058 $ 2,837,090 $ 2,706,631 $ (30,032 ) (1.1 )% $ 100,427 3.7 % LiabilitiesDeposits $ 2,146,160 $ 2,128,283 $ 2,134,831 $ 17,877 0.8 % $ 11,329 0.5 % Federal Home Loan Bank advances 205,000 260,000 325,000 (55,000 ) (21.2 ) (120,000 ) (36.9 ) Subordinated debt 27,852 27,815 27,715 37 0.1 137 0.5 Accrued expenses and other liabilities 44,884 41,998 33,028 2,886 6.9 11,856 35.9 Total liabilities $ 2,423,896 $ 2,458,096 $ 2,520,574 $ (34,200 ) (1.4 )% $ (96,678 ) (3.8 )% Shareholders' equity:Common Stock $ 201 $ 201 $ - $ - 0.0 % $ 201 - % Additional paid-in capital 194,899 194,899 - - 0.0 194,899 - Unallocated ESOP common stock (15,258 ) (15,258 ) - - 0.0 (15,258 ) - Retained earnings 216,973 211,981 203,683 4,992 2.4 13,290 6.5 Accumulated other comprehensive loss (13,653 ) (12,829 ) (17,626 ) (824 ) 6.4 3,973 (22.5 ) Total shareholders' equity $ 383,162 $ 378,994 $ 186,057 $ 4,168 1.1 % $ 197,105 105.9 % Total liabilities and shareholders' equity $ 2,807,058 $ 2,837,090 $ 2,706,631 $ (30,032 ) (1.1 )% $ 100,427 3.7 % Avidia Bancorp, Inc.Consolidated Loan and Deposit Analysis (Unaudited)Loan AnalysisAs ofMarch 31, 2026 Change From(Dollars in thousands)March 31, 2026December 31, 2025March 31, 2025December 31, 2025March 31, 2025Real estate loansOne to four family residential $ 513,146 $ 518,225 $ 513,224 $ (5,079 ) (1.0 )% $ (78 ) (0.0 )% Home equity and second mortgages 83,371 78,350 66,927 5,021 6.4 16,444 24.6 Commercial real estate 537,752 534,855 508,416 2,897 0.5 29,336 5.8 Commercial real estate multi-family 104,253 104,695 89,473 (442 ) (0.4 ) 14,780 16.5 Construction & land 47,467 57,005 42,234 (9,538 ) (16.7 ) 5,233 12.4 Total real estate loans 1,285,989 1,293,130 1,220,274 (7,141 ) (0.6 ) 65,715 5.4 Commercial loansCondominium associations 497,503 506,683 492,926 (9,180 ) (1.8 ) 4,577 0.9 Commercial & industrial 494,514 491,765 511,858 2,749 0.6 (17,344 ) (3.4 ) PPP loans — 11 151 (11 ) (100.0 ) (151 ) (100.0 ) Total commercial loans 992,017 998,459 1,004,935 (6,442 ) (0.6 ) (12,918 ) (1.3 ) Consumer loansConsumer 3,456 3,877 4,714 (421 ) (10.9 ) (1,258 ) (26.7 ) Total consumer loans 3,456 3,877 4,714 (421 ) (10.9 ) (1,258 ) (26.7 ) Total loans 2,281,462 2,295,466 2,229,923 (14,004 ) (0.6 ) 51,539 2.3 Allowance for credit losses (22,761 ) (22,018 ) (21,849 ) (743 ) 3.4 (912 ) 4.2 Net deferred loan costs 3,093 3,000 3,110 93 3.1 (17 ) (0.5 ) Loans, net $ 2,261,794 $ 2,276,448 $ 2,211,184 $ (14,654 ) (0.6 ) $ 50,610 2.3 % Deposit AnalysisAs ofMarch 31, 2026 Change From(Dollars in thousands)March 31, 2026December 31, 2025March 31, 2025December 31, 2025March 31, 2025Noninterest-bearing demand $ 388,527 $ 359,819 $ 361,235 $ 28,708 8.0 % $ 27,292 7.6 % NOW 733,674 770,350 722,583 (36,676 ) (4.8 ) 11,091 1.5 Money market 262,773 250,062 266,327 12,710 5.1 (3,554 ) (1.3 ) Savings 435,332 425,400 404,495 9,932 2.3 30,837 7.6 Certificates of deposits 325,855 322,652 380,191 3,203 1.0 (54,336 ) (14.3 ) Total deposits $ 2,146,160 $ 2,128,283 $ 2,134,831 $ 17,877 0.8 % $ 11,329 0.5 % Avidia Bancorp, Inc.Consolidated Statements of Operations QTD (Unaudited)Three Months Ended March 31, 2026 ChangeThree Months EndedFrom Three Months Ended(Dollars in thousands, except per share data)March 31, 2026December 31, 2025March 31, 2025December 31, 2025March 31, 2025Interest and dividend incomeLoans, including fees $ 30,313 $ 30,716 $ 28,183 $ (403 ) (1.3 )% $ 2,130 7.6 % Securities 2,544 2,530 2,651 14 0.6 (107 ) (4.0 ) Other 742 512 215 230 44.9 527 245.1 Total interest and dividend income 33,599 33,758 31,049 (159 ) (0.5 ) 2,550 8.2 Interest expenseDeposits 6,884 6,948 7,731 (64 ) (0.9 ) (847 ) (11.0 ) Federal Home Loan Bank advances 2,381 2,849 3,792 (468 ) (16.4 ) (1,411 ) (37.2 ) Subordinated debt 352 352 315 - 0.0 37 11.7 Total interest expense 9,617 10,149 11,838 (532 ) (5.2 ) (2,221 ) (18.8 ) Net interest income 23,982 23,609 19,211 373 1.6 4,771 24.8 Provision expense for credit losses - loans 859 1,440 17,305 (581 ) (40.3 ) (16,446 ) (95.0 ) Provision expense (reversal) for credit losses - off-balance sheet credit exposures 230 (223 ) 311 453 (203.1 ) (81 ) (26.0 ) Total provision expense for credit losses 1,089 1,217 17,616 (128 ) (10.5 ) (16,527 ) (93.8 ) Net interest income, after provision expense for credit losses 22,893 22,392 1,595 501 2.2 21,298 1335.3 Non-interest income:Customer service fees 919 918 901 1 0.1 18 2.0 Net loss on sale of securities available for sale - (218 ) (541 ) 218 100.0 541 (100.0 ) Payment processing income 1,909 1,720 2,192 189 11.0 (283 ) (12.9 ) Income on bank-owned life insurance 269 285 279 (16 ) (5.6 ) (10 ) (3.6 ) Mortgage banking income 263 103 16 160 155.3 247 1543.8 Investment commissions 356 380 350 (24 ) (6.3 ) 6 1.7 Other 570 528 530 42 8.0 40 7.5 Total non-interest income 4,286 3,716 3,727 570 15.3 559 15.0 Non-interest expense:Salaries and employee benefits 10,200 9,476 11,566 724 7.6 (1,366 ) (11.8 ) Occupancy and equipment 1,828 1,658 2,018 170 10.3 (190 ) (9.4 ) Data processing 2,890 3,251 3,378 (361 ) (11.1 ) (488 ) (14.4 ) Professional fees 1,108 818 661 290 35.5 447 67.6 Payment processing 367 363 1,043 4 1.1 (676 ) (64.8 ) Deposit insurance 343 217 632 126 58.1 (289 ) (45.7 ) Marketing and promotions 206 408 265 (202 ) (49.5 ) (59 ) (22.3 ) Telecommunications 99 91 92 8 8.8 7 7.6 Problem loan and foreclosed real estate, net 198 245 112 (47 ) (19.2 ) 86 76.8 Other general and administrative 1,753 1,834 2,064 (81 ) (4.4 ) (311 ) (15.1 ) Total non-interest expense 18,992 18,361 21,831 631 3.4 (2,839 ) (13.0 ) Income (loss) before income tax expense 8,187 7,747 (16,509 ) 440 5.7 24,696 (149.6 ) Income tax expense (benefit) 2,191 2,414 (4,922 ) (223 ) (9.2 ) 7,113 (144.5 ) Net income (loss) $ 5,996 $ 5,333 $ (11,587 ) $ 663 12.4 % $ 17,583 (151.7 )% Share data:Weighted average common shares outstanding, basic 18,557 18,537 N/A 20 0.1 % N/A N/A Weighted average common shares outstanding diluted 18,557 18,537 N/A 20 0.1 N/A N/A Earnings per share, basic $ 0.32 $ 0.29 N/A $ 0.03 10.3 N/A N/A Earnings per share, diluted $ 0.32 $ 0.29 N/A $ 0.03 10.3 N/A N/A Avidia Bancorp, Inc.Average Balances and Average Yields And Costs (Unaudited)For the Quarters EndedMarch 31, 2026December 31, 2025March 31, 2025(Dollars in thousands)Average Outstanding BalanceInterestAverage Yield/RateAverage Outstanding BalanceInterestAverage Yield/RateAverage Outstanding BalanceInterestAverage Yield/RateInterest-earning assets:Short-term investments $ 111,776 $ 742 2.69 % $ 72,847 $ 512 2.79 % $ 37,105 $ 215 2.35 % Securities 297,095 2,544 3.47 295,120 2,530 3.40 309,608 2,651 3.47 Loans 2,288,117 30,313 5.37 2,280,267 30,716 5.34 2,214,952 28,183 5.16 Total interest-earning assets 2,696,988 33,599 5.05 2,648,234 33,758 5.06 2,561,665 31,049 4.92 Noninterest-earning assets 115,557 107,874 105,220 Total assets $ 2,812,545 $ 2,756,108 $ 2,666,885 Interest-bearing liabilities:NOW accounts $ 742,711 $ 993 0.54 % $ 684,815 $ 804 0.47 % $ 690,014 $ 813 0.48 % Money market accounts 260,035 776 1.21 277,852 898 1.28 260,430 842 1.31 Regular and other savings accounts 434,329 2,279 2.13 419,232 2,278 2.16 383,017 2,098 2.22 Certificates of deposit 324,646 2,836 3.54 328,333 2,968 3.59 387,556 3,978 4.16 Total interest-bearing deposits 1,761,721 6,884 1.58 1,710,231 6,948 1.61 1,721,017 7,731 1.82 FHLB advances and other borrowings(1) 231,724 2,381 4.17 259,702 2,849 4.35 339,814 3,792 4.53 Subordinated debt 27,828 352 5.13 27,791 352 5.03 27,691 315 4.61 Total interest-bearing liabilities 2,021,273 9,617 1.93 1,997,724 10,149 2.02 2,088,522 11,838 2.30 Noninterest-bearing demand deposits 369,871 349,454 336,000 Other noninterest-bearing liabilities 39,196 32,301 45,439 Total liabilities 2,430,340 2,379,478 2,469,961 Total shareholders' equity 382,205 376,630 196,924 Total liabilities and capital $ 2,812,545 $ 2,756,108 $ 2,666,885 Net interest income $ 23,982 $ 23,609 $ 19,211 Net interest rate spread(2) 3.12 % 3.04 % 2.62 % Net interest-earning assets(3) $ 675,715 $ 650,510 $ 473,143 Total deposits 2,131,592 2,059,684 2,057,017 Net interest margin(4) 3.61 % 3.54 % 3.04 % Cost of deposits 1.31 % 1.35 % 1.50 % Average interest-earning assets to interest-bearing liabilities 133.43 % 132.56 % 122.65 % (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)March 31, 2026December 31, 2025March 31, 2025NonPerforming AssetsNonaccrual loans:Residential $ 977 $ 720 $ 446 Commercial real estate 6,041 6,126 - Construction - 6,478 9,303 Commercial 6,610 6,884 2,127 Total nonaccrual loans $ 13,628 $ 20,208 $ 11,876 Other real estate owned - - - Total nonperforming assets $ 13,628 $ 20,208 $ 11,876 Total nonperforming assets to total loans 0.60 % 0.88 % 0.53 % Allowance for Credit LossesAllowance for credit losses, beginning of period $ 22,018 $ 24,284 21,741 Charged-off loans (221 ) (3,790 ) (17,230 ) Recoveries on charged-off loans 105 84 33 Net loan (charge-offs) (116 ) (3,706 ) (17,197 ) Provision expense for credit losses 859 1,440 17,305 Allowance for credit losses, end of period $ 22,761 $ 22,018 $ 21,849 Allowance for credit losses to total loans 1.00 % 0.96 % 0.98 % Allowance for credit losses to nonperforming loans 167.02 108.96 183.98 Net loans (charge-offs) recoveriesResidential $ 1 $ 1 $ 1 Commercial real estate - - 10 Construction 75 (2,454 ) (16,749 ) Commercial (154 ) (1,260 ) (429 ) Consumer (38 ) 7 (30 ) Total net loan (charge-offs) $ (116 ) $ (3,706 ) $ (17,197 ) Net loan (charge-offs) to average loans (annualized) (0.02 )% (0.65 )% (3.11 )% Avidia Bancorp, Inc.Non-GAAP Reconciliation (Unaudited)As of(Dollars in thousands, except per share data)March 31, 2026December 31, 2025March 31, 2025Tangible shareholders' equity:Total shareholders' equity (GAAP) $ 383,162 $ 378,994 $ 186,057 Less: Goodwill 11,936 11,936 11,936 Tangible shareholders' equity (non-GAAP) $ 371,226 $ 367,058 $ 174,121 Tangible assets:Total assets (GAAP) $ 2,807,058 $ 2,837,090 $ 2,706,631 Less: Goodwill 11,936 11,936 11,936 Tangible assets (non-GAAP) $ 2,795,122 $ 2,825,154 $ 2,694,695 Average tangible shareholders' equity:Average total shareholders' equity (GAAP) $ 382,205 $ 376,630 $ 196,924 Less: Average goodwill 11,936 11,936 11,936 Average tangible shareholders' equity (non-GAAP) $ 370,269 $ 364,694 $ 184,988 Shareholders' equity to assets (GAAP) 13.65 % 13.36 % 6.87 % Tangible shareholders' equity to tangible assets (non-GAAP) 13.28 % 12.99 % 6.46 % Return on average equity (GAAP) 6.36 % 5.66 % (24.91 )% Return on average tangible common equity (non-GAAP) 6.57 % 5.85 % (25.05 )% Common shares outstanding, including unallocated ESOP shares 20,076 20,076 N/A Book value per common share (GAAP) $ 19.09 $ 18.88 N/A Tangible book value per common share (non-GAAP) $ 18.49 $ 18.28 N/A Robert D. Cozzone President and Chief Executive Officer Avidia Bancorp, Inc. (800) 508-2265 Source: Avidia Bancorp, Inc.