Avidbank Holdings, Inc. Announces Financial Results for the Second Quarter of 2026

View all news AVIDBANK July 23, 2026 Avidbank Holdings, Inc. (NASDAQ:AVBH) (the "Company" or "Avidbank Holdings"), the holding company for Avidbank, a California state-chartered bank (the "Bank"), announced net income for the second quarter of 2026 of $7.6 million, or $0.71 per diluted share, compared to net income of $9.0 million, or $0.84 per diluted share, for the first quarter of 2026 and net income of $5.8 million, or $0.75 per diluted share, for the second quarter of 2025. Results for the second quarter included a $2.6 million expense relating to the settlement of outstanding litigation and income of approximately $1.3 million on death benefit proceeds from bank-owned life insurance ("BOLI"). Excluding these items, adjusted net income (non-GAAP)(1) totaled $8.2 million, or $0.76 per adjusted diluted share(1) for the second quarter of 2026. Second Quarter 2026 Highlights Period-end loans, net of deferred fees, increased $51.3 million, or 9% annualized, from March 31, 2026 and $312.4 million, or 16%, from June 30, 2025. Average deposits increased $59.2 million, or 11% annualized, from the first quarter of 2026 and $238.1 million, or 12%, from the second quarter of 2025. Period-end deposits increased $122.6 million, or 22% annualized, from March 31, 2026 and $319.2 million, or 16%, from June 30, 2025. Return on average assets was 1.20% compared to 1.46% in the first quarter of 2026 and 1.00% in the second quarter of 2025. Excluding the litigation settlement and the income on BOLI proceeds, adjusted return on average assets(1) was 1.28% in the second quarter of 2026 compared to 1.46% in the prior quarter. Net interest margin declined to 4.26% in the second quarter of 2026, compared to 4.38% in the first quarter of 2026 and increased compared to 3.60% in the second quarter of 2025. Book value per share was $26.97 at June 30, 2026, an increase of $0.64 from March 31, 2026, and an increase of $1.17 from June 30, 2025. Non-performing loans to total loans decreased to 0.65% as of June 30, 2026 compared to 0.75% at March 31, 2026 and increased compared to 0.07% at June 30, 2025. Net charge-offs to average loans were 0.35% in the second quarter of 2026 compared to 0.52% in the first quarter of 2026. Mark Mordell, Chairman and Chief Executive Officer stated, "We are pleased to report another solid quarter of growth in loans and deposits. In regard to our income statement, our results included two non-recurring items - a charge to settle a previously disclosed litigation matter and income on a payment from bank-owned life insurance. If we exclude those items, our adjusted results reflect the continued strength of our core operating performance and the earning power of our franchise. Although criticized and classified loans increased, we are not seeing any systemic or broad-based deterioration across the portfolio. As I have often said, we never take credit for granted and believe we are focused on the appropriate areas." Mordell concluded, "We also continued to invest in our franchise, adding several experienced bankers as well as launching our new SBA Lending division, which expands our commercial banking platform and deepens the relationship-driven service that defines Avidbank. With a growing, diversified balance sheet and strong capital, we remain focused on disciplined growth and building long-term value for our shareholders." Results of Operations Net interest income totaled $26.7 million for the second quarter of 2026, an increase of $181 thousand, or 3% annualized, from the first quarter of 2026, and an increase of $6.4 million, or 31%, from the second quarter of 2025. The increase in net interest income compared to the prior quarter was primarily due to higher average loan balances, partially offset by a lower FHLB dividend and higher deposit costs. The increase compared to the second quarter of 2025 was driven by higher average loan balances, higher yields on securities and lower average short-term borrowings. For the six months ended June 30, 2026, net interest income increased $13.5 million, or 34%, compared to the six months ended June 30, 2025. Net interest margin was 4.26% in the second quarter of 2026, a decrease of 12 basis points compared to the first quarter of 2026, and a 66 basis point increase compared to the second quarter of 2025. The decrease in net interest margin compared to the prior quarter was primarily driven by higher cost of deposits and a lower FHLB dividend. The first quarter of 2026 included a special FHLB dividend totaling $241 thousand. During the second quarter of 2026, the FHLB lowered the rate paid on dividends to 4.75% for banks with no outstanding borrowings. The increase in net interest margin compared to the second quarter of 2025 was primarily driven by higher yields on securities, lower cost of deposits and lower rates and balances on short-term borrowings. For the six months ended June 30, 2026, net interest margin was 4.32%, an increase of 76 basis points from 3.56% for the six months ended June 30, 2025. The yield on loans in the second quarter of 2026 was 6.67%, relatively flat compared to the first quarter of 2026 and a decrease of 34 basis points from the second quarter of 2025, primarily driven by reductions in the Prime rate. The yield on securities increased in the second quarter of 2026 to 4.68% compared to 4.64% in the first quarter of 2026 due to securities purchases and increased from 2.34% in the second quarter of 2025 due to the balance sheet restructuring in 2025. For the six months ended June 30, 2026, loan yields decreased 31 basis points while the yield on securities increased 229 basis points compared to the same period in the prior year. The yield on interest-earning assets increased 8 basis points during the second quarter of 2026 compared to the first quarter of 2026 and increased 5 basis points compared to the second quarter of 2025. The increase from the first quarter of 2026 was primarily driven by an increase in average loan balances and average interest-earning deposits as well as higher average balances of debt securities, offset by a lower FHLB dividend. The increase compared to the second quarter of 2025 was primarily due to higher average loan balances, higher average interest-earning deposits and higher yields on our debt securities portfolio following the balance sheet restructuring. For the six months ended June 30, 2026, the yield on interest-earning assets increased 11 basis points compared to the same period in the prior year. The cost of interest-bearing deposits in the second quarter of 2026 was 3.06%, an increase of 8 basis points compared to the first quarter of 2026 and a decrease of 48 basis points compared to the second quarter of 2025. The cost of deposits in the second quarter of 2026 was 2.29%, an increase of 5 basis points from the first quarter of 2026 and a decrease of 49 basis points from the second quarter of 2025, primarily driven by the reduction in the Federal Funds rate. Overall funding costs increased 7 basis points from the first quarter of 2026 and decreased 55 basis points compared to the second quarter of 2025. For the six months ended June 30, 2026, the cost of interest-bearing deposits was 3.02%, a decrease of 51 basis points compared to the same period in the prior year. The cost of deposits for the six months ended June 30, 2026, was down 50 basis points compared to the same period in 2025, while overall funding costs declined 59 basis points for the same period compared to the prior year. The provision for credit losses was $2.8 million in the second quarter of 2026, compared to $1.4 million in the first quarter of 2026 and $925 thousand in the second quarter of 2025. The provision was higher in the second quarter of 2026 compared to the first quarter of 2026 primarily due to a $1.9 million partial charge-off of one non-performing construction loan and was higher compared to the second quarter of 2025 due to higher loan balances and the aforementioned charge-off in the second quarter of 2026. For the six months ended June 30, 2026, the provision for credit losses totaled $4.2 million compared to $925 thousand for the six months ended June 30, 2025. Non-interest income was $3.1 million in the second quarter of 2026 compared to $1.5 million in both the first quarter of 2026 and the second quarter of 2025. The increase during the second quarter of 2026 was primarily driven by income of approximately $1.3 million on the death benefit proceeds of BOLI policies. For the six months ended June 30, 2026, non-interest income totaled $4.5 million compared to $2.7 million for the six months ended June 30, 2025. Non-interest expense totaled $16.5 million for the second quarter of 2026, compared to $14.1 million in the first quarter of 2026 and $12.6 million in the second quarter of 2025. The increase in non-interest expense was due to the $2.6 million settlement of outstanding litigation, partially offset by a decrease in credit-related legal and professional fees during the second quarter of 2026. For the six months ended June 30, 2026, non-interest expense totaled $30.6 million, an increase of $5.1 million, or 20%, compared to the same period in the prior year. Salaries and employee benefits were unchanged at $9.6 million compared to the first quarter of 2026, as higher salary expense was offset by lower bonus accruals and higher capitalized loan origination costs. There were 162 full-time equivalent employees on June 30, 2026, compared to 154 on March 31, 2026, and 149 on June 30, 2025. The effective tax rate for the second quarter of 2026 was 27.0% compared to 27.5% in the first quarter of 2026 and 30.1% in the second quarter of 2025. The decrease compared to the first quarter of 2026 and the second quarter of 2025 was primarily due to the recognition of approximately $1.3 million in tax-exempt BOLI proceeds. For the six months ended June 30, 2026, the effective tax rate was 27.2% compared to 29.7% for the same period of the prior year due to state tax impacts from changes in California law requiring financial institutions to apportion business income using a single sales factor for tax years beginning on or after January 1, 2025. As a result, the second quarter of 2025 included $153 thousand in additional tax expense related to the write-down of deferred tax assets. In addition, the first quarter of 2026 included approximately $514 thousand in discrete tax benefits related to the vesting of equity awards. Financial Condition Total assets were $2.66 billion as of June 30, 2026, compared to $2.58 billion as of March 31, 2026, and $2.39 billion as of June 30, 2025. Cash and cash equivalents were $159.9 million on June 30, 2026, compared to $149.0 million on March 31, 2026, and $129.9 million on June 30, 2025. Loans, net of deferred fees, on June 30, 2026, totaled $2.22 billion, an increase of $51.3 million, or 9% annualized, from March 31, 2026, and an increase of $312.4 million, or 16%, from June 30, 2025. Loan growth during the second quarter of 2026 included increases of $70.9 million in commercial and industrial loans, $33.2 million in owner-occupied real estate loans, and $12.7 million in multi-family loans, partially offset by decreases of $36.1 million in construction and land loans and $18.7 million in non-owner-occupied commercial real estate loans. The allowance for credit losses on loans was $21.5 million on June 30, 2026, an increase of $563 thousand from March 31, 2026, and an increase of $1.9 million compared to June 30, 2025. The allowance for credit losses - loans and unfunded commitments to total loans was 1.09% on June 30, 2026, compared to 1.07% on March 31, 2026 and 1.15% as of June 30, 2025. Non-performing loans to total loans was 0.65% at June 30, 2026, down 10 basis points compared to March 31, 2026 and up 58 basis points from June 30, 2025. The decrease in the second quarter of 2026 was primarily due to the partial charge-off of one construction loan totaling $1.9 million. The available-for-sale securities portfolio totaled $232.2 million as of June 30, 2026, compared to $210.6 million at March 31, 2026, and $292.8 million as of June 30, 2025. The net unrealized loss on the available-for-sale portfolio totaled $2.8 million as of June 30, 2026, compared to $1.8 million at March 31, 2026 and $63.4 million as of June 30, 2025. Deposits were $2.32 billion on June 30, 2026, an increase of $122.6 million, or 22% annualized, from March 31, 2026, and an increase of $319.2 million, or 16% from June 30, 2025. The change in deposits during the second quarter of 2026 included a $79.1 million increase in interest-bearing demand deposits, an increase of $27.0 million in non-reciprocal brokered deposits and an increase of $19.3 million in money market and savings deposits, partially offset by a decrease of $8.6 million in non-interest-bearing checking deposits. Quarterly average deposits for the second quarter of 2026 were $2.21 billion, an increase of $59.2 million from the first quarter of 2026, and an increase of $238.1 million from the second quarter of 2025. Average non-interest-bearing demand deposits increased $18.6 million compared to the first quarter of 2026 and $127.5 million compared to the second quarter of 2025. Short-term borrowings outstanding at June 30, 2026 were $0.0, compared to $55.0 million at March 31, 2026, and $145.0 million at June 30, 2025. Book value per share was $26.97 on June 30, 2026, an increase of $0.64 compared to March 31, 2026, and an increase of $1.17 compared to June 30, 2025. Total shareholders' equity was $296.2 million on June 30, 2026, an increase of $7.7 million compared to March 31, 2026, and an increase of $91.8 million from June 30, 2025, due to new shares issued as part of the IPO in 2025. No shares were repurchased during the second quarter of 2026, compared to 25,000 shares repurchased during the first quarter of 2026. Other Information The Company will host a conference call on July 24, 2026, at 11:00 a.m. (Eastern Time) / 8:00 a.m. (Pacific Time) to discuss the earnings results for the second quarter of 2026. Investors may call in by dialing (833) 461-5787 within the US and +1(585) 542-9983 for all other locations (Conference ID: 599 992 664). Participants may also pre-register for the conference by navigating to https://events.q4inc.com/attendee/599992664. Alternatively, individuals may listen to a live webcast of the presentation by visiting the link on the Company's website at www.avidbank.com under About Us, Investor Relations. An audio replay of the live webcast is expected to be available by the evening of July 24, 2026, through the Investor Relations section of the Company's website. The recording will be available for one year from the day of posting. Information which may be discussed on the conference call is provided in an earnings supplement presentation available on the Company's website and furnished with the SEC and available at www.sec.gov. (1) A non-GAAP performance measure. We provide detailed reconciliations in the "Non-GAAP Performance and Financial Measures Reconciliation" table. About Avidbank Holdings Avidbank Holdings, Inc. (NASDAQ: AVBH), headquartered in San Jose, California, offers innovative financial solutions and services. We specialize in commercial & industrial lending, venture lending, structured finance, asset-based lending, sponsor finance, fund finance, and real estate construction and commercial real estate lending. Avidbank provides a different approach to banking. We do what we say. Non-GAAP Financial Measures This press release includes financial information prepared in accordance with accounting principles generally accepted in the United States ("GAAP"). This press release also includes non-GAAP financial information, which should be considered supplemental to, not a substitute for, or superior to, the financial measure calculated in accordance with GAAP. Management has presented these non-GAAP financial measures because we believe that these measures provide useful information to management and investors that is supplementary to our financial condition, results of operations and cash flows computed in accordance with GAAP. Management believes that adjusted net income, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average equity, adjusted efficiency ratio and taxable equivalent net interest income are reasonable measures to understand the Company's core operating performance and are important to many investors who are interested in understanding our profitability prospects from our core operations. However, we acknowledge that our non-GAAP financial measures have a number of limitations. As such, you should not view these disclosures as a substitute for results determined in accordance with GAAP, and they are not necessarily comparable to non-GAAP financial measures that other banking companies use. Other banking companies may use names similar to those we use for the non-GAAP financial measures we disclose but may calculate them differently. You should understand how we and other companies each calculate their non-GAAP financial measures when making comparisons. For a description of the non-GAAP financial information included herein and reconciliations to the most directly comparable GAAP measure, see the "Non-GAAP Performance and Financial Measures Reconciliation" table. Forward-Looking Statements This press release contains forward-looking statements within the meaning of U.S. federal securities laws, which involve risks and uncertainties. You should not place undue reliance on forward-looking statements because they are subject to numerous uncertainties and factors relating to our operations and business, all of which are difficult to predict and many of which are beyond our control. All statements, other than statements of historical fact, are forward-looking statements. Forward-looking statements include statements concerning our possible or assumed financial condition, results of operations, including descriptions of our business plans, strategy and expectations, capital and financing needs and liquidity and regulatory and competitive outlook. These forward-looking statements are generally identified by the use of forward-looking terminology, including the terms "anticipate," "believe," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and, in each case, their negative or other variations or comparable terminology and expressions. The results, events and circumstances reflected in the forward-looking statements may not be achieved or occur, and actual results, events, or circumstances could differ materially from those described in the forward-looking statements. We caution that the forward-looking information and statements are based largely on our expectations and are subject to a number of known and unknown risks and uncertainties that are subject to change based on factors which are, in many instances, beyond our control. Such forward-looking statements are based on various assumptions (some of which may be beyond our control) and are subject to risks and uncertainties, which change over time, and other factors which could cause actual results to differ materially from those currently anticipated. Such risks and uncertainties include, but are not limited to: uncertain market conditions and economic trends nationally, regionally and particularly in the Bay Area (which we define as the counties of Alameda, Contra Costa, Marin, Monterey, Napa, San Francisco, San Mateo, Santa Clara, Santa Cruz, Solano and Sonoma) and California; economic conditions affecting the venture capital and private equity industries, including any decline in overall portfolio company investment, merger and acquisition activity and other liquidity events affecting venture and private equity fund and their portfolio companies; risks related to the concentration of our business in California, and specifically within the Bay Area, including risks associated with any downturn in the real estate sector; the effects of a prolonged government shutdown; the occurrence of significant natural disasters, including fires and earthquakes, geopolitical events, and acts of war or terrorism; the effects of natural or man-made disasters, including the effects of pandemic viruses; changes in market interest rates that affect the pricing of our loans and deposits and our net interest income; risks related to our strategic focus on lending to small to medium-sized businesses; the sufficiency of the assumptions and estimates we make in establishing reserves for potential loan losses and the value of loan collateral and securities; our ability to attract and retain executive officers and key employees, including their client and community relationships; our ability to successfully manage any chief executive officer transition; adverse changes in the financial performance and/or condition of our borrowers and, as a result, increased loan delinquency rates, deterioration in asset quality and losses in our loan portfolio; the costs of and effects of legal and regulatory developments, including legal proceedings and lawsuits we are or may become subject to; the results of regulatory examinations or reviews and the effect of and our ability to comply with, any regulations or regulatory orders or actions we are or may become subject to; our level of non-performing assets and the costs associated with resolving problem loans; our ability to maintain adequate liquidity and to raise necessary capital to fund our growth strategy and operations or to meet increased minimum regulatory capital levels; the effects of increased competition from a wide variety of local, regional, national and other providers of financial services; technological changes and developments; negative trends in our market capitalization and adverse changes in the price of our common stock; risks associated with unauthorized access, cyber-crime and other threats to data security; the effects of any strategic transactions we may make or evaluate, and the costs associated with any potential or actual strategic transaction; our ability to comply with various governmental and regulatory requirements applicable to financial institutions, including supervisory actions by federal and state banking agencies; the impact of recent and future legislative and regulatory changes, including changes in banking, accounting, securities and tax laws and regulations and their application by our regulators, and economic stimulus programs; governmental monetary and fiscal policies, including the policies of the Federal Reserve and policies related to tariffs; our ability to implement, maintain and improve effective internal controls; our use of the net proceeds from our recent completed public offering; and our success at managing any of the risks involved in the foregoing items. Additional factors that could cause actual results to differ materially from those expressed in the forward-looking statements are discussed in the Company's filings with the SEC, including the Company's most recent annual report on Form 10-K and quarterly reports on Form 10-Q under the heading "Risk Factors" therein and available at the SEC's Internet site www.sec.gov. The foregoing factors should not be considered exhaustive. New risks and uncertainties may emerge from time to time, and it is not possible for us to predict their occurrence or how they will affect us. If one or more of the factors affecting our forward-looking information and statements proves incorrect, then our actual results, performance or achievements could differ materially from those expressed in, or implied by, forward-looking information. Therefore, we caution you not to place undue reliance on our forward-looking information and statements. We disclaim any duty to revise or update the forward-looking statements, whether written or oral, to reflect actual results or changes in the factors affecting the forward-looking statements, except as specifically required by law. Contact: Patrick Oakes Executive Vice President and Chief Financial Officer 408-200-7390 [email protected] AVIDBANK HOLDINGS, INC. Selected Financial Data (Unaudited) For the Three Months Ended For the Six Months Ended June 30, March 31, Dec. 31, Sept. 30, June 30, June 30, June 30, (In thousands, except share and per share amounts) 2026 2026 2025 2025 2025 2026 2025 INCOME HIGHLIGHTS Net income / (loss) $ 7,647 $ 9,021 $ 6,949 $ (37,735 ) $ 5,797 $ 16,668 $ 11,233 Net income - adjusted(2) 8,197 9,021 6,949 6,707 5,797 17,218 11,233 PER SHARE DATA Basic earnings / (loss) per share $ 0.72 $ 0.85 $ 0.66 $ (4.12 ) $ 0.77 $ 1.57 $ 1.50 Diluted earnings / (loss) per share 0.71 0.84 0.65 (4.12 ) 0.75 1.55 1.46 Diluted earnings per share - adjusted(2) 0.76 0.84 0.65 0.72 0.75 1.60 1.46 Book value per share 26.97 26.33 25.66 25.00 25.80 26.97 25.80 PERFORMANCE MEASURES Return on average assets(1) 1.20 % 1.46 % 1.12 % (6.35 )% 1.00 % 1.33 % 0.98 % Return on average assets - adjusted(1)(2) 1.28 % 1.46 % 1.12 % 1.13 % 1.00 % 1.37 % 0.98 % Return on average equity(1) 10.40 % 12.74 % 9.90 % (63.19 )% 11.59 % 11.55 % 11.54 % Return on average equity - adjusted(1) (2) 11.15 % 12.74 % 9.90 % 11.23 % 11.59 % 11.93 % 11.54 % Net interest margin(1) 4.26 % 4.38 % 4.13 % 3.90 % 3.60 % 4.32 % 3.56 % Efficiency ratio 55.41 % 50.35 % 51.72 % (35.28 )% 57.77 % 52.96 % 60.10 % Efficiency ratio - adjusted(2) 48.73 % 50.35 % 51.72 % 55.72 % 57.77 % 49.54 % 60.10 % Average loans to average deposits 99.32 % 99.98 % 94.78 % 94.14 % 95.69 % 99.64 % 97.08 % CAPITAL Tier 1 leverage ratio(3) 11.50 % 11.39 % 11.23 % 11.14 % 10.53 % 11.50 % 10.53 % Common equity tier 1 capital ratio(3) 11.35 % 11.39 % 11.05 % 11.68 % 11.02 % 11.35 % 11.02 % Tier 1 risk-based capital ratio(3) 11.35 % 11.39 % 11.05 % 11.68 % 11.02 % 11.35 % 11.02 % Total risk-based capital ratio(3) 12.79 % 12.85 % 12.57 % 13.48 % 12.76 % 12.79 % 12.76 % Common equity ratio 11.13 % 11.18 % 10.93 % 11.56 % 8.55 % 11.13 % 8.55 % SHARES OUTSTANDING Number of common shares outstanding 10,982,764 10,955,167 10,947,967 10,925,102 7,923,946 10,982,764 7,923,946 Average common shares outstanding - basic 10,607,949 10,600,902 10,579,753 9,168,707 7,534,264 10,604,445 7,511,285 Average common shares outstanding - diluted 10,776,924 10,773,884 10,754,488 9,168,707 7,686,385 10,775,066 7,684,976 Average common shares outstanding - diluted - adjusted(2) 10,776,924 10,773,884 10,754,488 9,353,444 7,686,385 10,775,066 7,684,976 ASSET QUALITY Total allowance for credit losses-loans and unfunded commitments to total loans 1.09 % 1.07 % 1.15 % 1.19 % 1.15 % 1.09 % 1.15 % Non-performing assets to total assets 0.54 % 0.63 % 0.95 % 0.12 % 0.06 % 0.54 % 0.06 % Non-performing loans to total loans 0.65 % 0.75 % 1.14 % 0.14 % 0.07 % 0.65 % 0.07 % Net charge-offs to average loans(1) 0.35 % 0.52 % 0.30 % (0.01 )% 0.00 % 0.43 % (0.01 )% AVERAGE BALANCES Loans, net of deferred fees $ 2,195,164 $ 2,150,688 $ 2,024,325 $ 1,924,537 $ 1,887,263 $ 2,173,049 $ 1,873,068 Debt securities available-for-sale 219,942 216,507 196,462 181,154 293,640 218,234 295,024 Total assets 2,565,538 2,504,616 2,459,110 2,357,158 2,322,264 2,535,245 2,306,188 Deposits 2,210,267 2,151,059 2,135,876 2,044,228 1,972,215 2,180,827 1,929,342 Shareholders' equity 294,826 287,191 278,382 236,903 200,608 291,030 196,273 PERIOD-END BALANCES Loans, net of deferred fees $ 2,224,119 $ 2,172,846 $ 2,148,439 $ 1,958,585 $ 1,911,718 $ 2,224,119 $ 1,911,718 Debt securities available-for-sale 232,196 210,583 218,160 173,588 292,808 232,196 292,808 Total assets 2,660,440 2,579,554 2,569,643 2,362,454 2,392,129 2,660,440 2,392,129 Deposits 2,321,948 2,199,319 2,186,073 2,049,158 2,002,781 2,321,948 2,002,781 Shareholders' equity 296,185 288,438 280,979 273,113 204,419 296,185 204,419 (1) Annualized for the periods presented. (2) A non-GAAP performance measure. We provide detailed reconciliations in the "Non-GAAP Performance and Financial Measures Reconciliation" table. (3) Ratios presented are for Avidbank Holdings, Inc. and are estimated for the three months and six months ended June 30, 2026. AVIDBANK HOLDINGS, INC. Consolidated Statements of Financial Condition (Unaudited) June 30, March 31, Dec. 31, Sept. 30, June 30, (In thousands) 2026 2026 2025 2025 2025 Assets Cash and due from financial institutions $ 13,897 $ 10,569 $ 7,942 $ 12,006 $ 2,800 Due from Federal Reserve Bank and interest-bearing deposits in other financial institutions 146,012 138,473 146,627 165,313 127,123 Total cash and cash equivalents 159,909 149,042 154,569 177,319 129,923 Debt securities available-for-sale 232,196 210,583 218,160 173,588 292,808 Loans, net of deferred fees 2,224,119 2,172,846 2,148,439 1,958,585 1,911,718 Allowance for credit losses on loans (21,501 ) (20,938 ) (22,261 ) (21,025 ) (19,624 ) Loans, net of allowance for credit losses on loans 2,202,618 2,151,908 2,126,178 1,937,560 1,892,094 Cash surrender value of bank-owned life insurance policies 11,443 13,151 13,045 12,953 12,857 Premises and equipment, net 1,151 1,340 1,526 1,739 1,927 Accrued interest receivable and other assets 53,123 53,530 56,165 59,295 62,520 Total assets $ 2,660,440 $ 2,579,554 $ 2,569,643 $ 2,362,454 $ 2,392,129 Liabilities and Shareholders' Equity Deposits: Non-interest-bearing $ 568,509 $ 577,101 $ 556,972 $ 471,770 $ 443,540 Interest-bearing checking 1,115,263 1,036,178 1,069,272 1,069,344 1,087,621 Money market and savings 538,399 519,059 532,149 465,198 399,849 Time 34,311 28,521 27,680 42,846 46,770 Non-reciprocal brokered(1) 65,466 38,460 - - 25,001 Total deposits 2,321,948 2,199,319 2,186,073 2,049,158 2,002,781 Short-term borrowings - 55,000 60,000 - 145,000 Subordinated debentures, net 22,000 22,000 22,000 22,000 22,000 Accrued interest payable and other liabilities 20,307 14,797 20,591 18,183 17,929 Total liabilities 2,364,255 2,291,116 2,288,664 2,089,341 2,187,710 Shareholders' Equity Common stock 170,284 169,474 169,990 169,342 107,608 Retained earnings 127,818 120,171 111,150 104,201 141,936 Accumulated other comprehensive loss, net of taxes (1,917 ) (1,207 ) (161 ) (430 ) (45,125 ) Total shareholders' equity 296,185 288,438 280,979 273,113 204,419 Total liabilities and shareholders' equity $ 2,660,440 $ 2,579,554 $ 2,569,643 $ 2,362,454 $ 2,392,129 (1) FDIC regulations impose a general cap on reciprocal deposits that may be exempt from brokered deposits classification equal to 20% of the Bank's total liabilities. As of June 30, 2026, March 31, 2026, December 31, 2025, September 30 2025 and June 30, 2025, an additional $513.0 million, $447.6 million, $475.4 million, $522.5 million and $495.4 million of our deposits were considered brokered deposits by the FDIC due to being in excess of the general cap, respectively. AVIDBANK HOLDINGS, INC. Consolidated Statements of Operations (Unaudited) For the Six For the Three Months Ended Months Ended June 30, March 31, Dec. 31, Sept. 30, June 30, June 30, June 30, (in thousands, except share and per share amounts) 2026 2026 2025 2025 2025 2026 2025 Interest and fees on loans $ 36,484 $ 35,429 34,093 $ 33,880 $ 32,967 $ 71,913 $ 64,852 Interest on debt securities 2,559 2,467 2,274 1,157 1,703 5,025 3,452 Federal Home Loan Bank dividends 20 426 185 184 181 446 366 Other interest income 864 716 1,775 2,033 793 1,581 1,499 Total interest income 39,927 39,038 38,327 37,254 35,644 78,965 70,169 Interest on deposits 12,640 11,899 12,887 13,776 13,669 24,539 26,496 Interest on short-term borrowings 196 240 6 385 1,242 436 3,153 Interest on subordinated debentures 410 399 421 443 443 809 878 Total interest expense 13,246 12,538 13,314 14,604 15,354 25,784 30,527 Net interest income 26,681 26,500 25,013 22,650 20,290 53,181 39,642 Provision for credit losses 2,789 1,445 2,838 1,355 925 4,234 925 Net interest income after provision for credit losses 23,892 25,055 22,175 21,295 19,365 48,947 38,717 Service charges and fees 851 821 797 779 840 1,672 1,602 Foreign exchange income 340 363 254 267 196 703 416 Bank-owned life insurance income(1) 1,497 106 93 96 93 1,603 183 Credit card income 113 101 60 57 150 214 197 Warrant and success fee income 64 3 375 - 273 67 273 Other investment income 79 (22 ) 146 315 (23 ) 57 24 Net loss on sale of debt securities - - - (62,391 ) - - - Other income 106 95 42 25 9 201 14 Total non-interest income 3,050 1,467 1,767 (60,852 ) 1,538 4,517 2,709 Salaries and employee benefits 9,563 9,555 9,574 9,766 8,978 19,117 18,075 Legal and professional fees 897 1,188 890 591 715 2,086 1,226 Data processing 787 799 770 792 759 1,586 1,374 Occupancy and equipment 777 790 730 723 759 1,567 1,755 Regulatory assessments 515 566 521 445 420 1,082 964 Other operating expenses 3,934 1,184 1,366 1,162 978 5,118 2,057 Total non-interest expense 16,473 14,082 13,851 13,479 12,609 30,556 25,451 Income / (loss) before income taxes 10,469 12,440 10,091 (53,036 ) 8,294 22,908 15,975 Provision / (benefit) for income taxes 2,822 3,419 3,142 (15,301 ) 2,497 6,240 4,742 Net income / (loss) $ 7,647 $ 9,021 6,949 $ (37,735 ) $ 5,797 $ 16,668 $ 11,233 Basic earnings / (loss) per common share $ 0.72 $ 0.85 0.66 $ (4.12 ) $ 0.77 $ 1.57 $ 1.50 Diluted earnings / (loss) per common share 0.71 0.84 0.65 (4.12 ) 0.75 1.55 1.46 Weighted average shares - basic 10,607,949 10,600,902 10,579,753 9,168,707 7,534,264 10,604,445 7,511,285 Weighted average shares - diluted 10,776,924 10,773,884 10,754,488 9,168,707 7,686,385 10,775,066 7,684,976 (1) Includes $1.3 million in income related to BOLI death benefits for the three and six months ended June 30, 2026. AVIDBANK HOLDINGS, INC. Average Balance Sheets and Net Interest Margin Analysis (Unaudited) For the Three Months Ended June 30, 2026 March 31, 2026 Interest Yields Interest Yields Average Income/ or Average Income/ or (In thousands) Balance Expense Rates(6) Balance Expense Rates(6) Assets Interest-earning assets: Loans, net of deferred fees(1) $ 2,195,164 $ 36,484 6.67 % $ 2,150,688 $ 35,429 6.68 % Interest-earning deposits 91,304 864 3.80 % 78,859 716 3.68 % Debt securities Taxable debt securities 217,311 2,529 4.67 % 213,820 2,437 4.62 % Non-taxable debt securities(2) 2,631 38 5.79 % 2,687 38 5.74 % Total debt securities 219,942 2,567 4.68 % 216,507 2,475 4.64 % FHLB stock(5) 8,409 20 0.95 % 8,409 426 20.55 % Total interest-earning assets 2,514,819 39,935 6.37 % 2,454,463 39,046 6.45 % Non-interest-earning assets: Cash and due from financial institutions 16,004 13,058 All other assets(3) 34,715 37,095 Total assets $ 2,565,538 $ 2,504,616 Liabilities and Shareholders' Equity Interest-bearing liabilities: Interest-bearing demand deposits $ 1,055,578 $ 8,368 3.18 % $ 1,067,528 $ 8,260 3.14 % Money market and savings 509,766 3,427 2.70 % 517,342 3,389 2.66 % Time deposits 35,454 285 3.22 % 27,589 207 3.04 % Non-reciprocal brokered deposits 56,810 560 3.95 % 4,567 43 3.82 % Total interest-bearing deposits 1,657,608 12,640 3.06 % 1,617,026 11,899 2.98 % Short-term borrowings 20,703 196 3.80 % 25,500 240 3.82 % Subordinated debentures, net 22,000 410 7.48 % 21,997 399 7.36 % Total interest-bearing liabilities 1,700,311 13,246 3.12 % 1,664,523 12,538 3.05 % Non-interest-bearing liabilities: Demand deposits 552,659 534,033 Accrued expenses and other liabilities 17,742 18,869 Shareholders' equity 294,826 287,191 Total liabilities and shareholders' equity $ 2,565,538 $ 2,504,616 Net interest spread 3.25 % 3.40 % Net interest income and margin(4) $ 26,689 4.26 % $ 26,508 4.38 % Non-taxable equivalent net interest margin 4.26 % 4.38 % Cost of deposits $ 2,210,267 $ 12,640 2.29 % $ 2,151,059 $ 11,899 2.24 % (1) Non-performing loans are included in average loan balances. No adjustment has been made for these loans in the calculation of yields. Interest income on loans includes net amortization of deferred fees / (costs) of $260 thousand and $252 thousand, for the three months ended June 30, 2026 and March 31, 2026, respectively. (2) Interest income on tax-exempt securities has been increased to reflect comparable interest on taxable securities. The rate used was 21%, reflecting the statutory federal income tax rate. (3) Including negative balance on average allowance for credit losses on loans of $20.5 million and $21.9 million, respectively. (4) Net interest margin is net interest income divided by total interest-earning assets. (5) Includes a special FHLB dividend totaling $241 thousand for the three months ended March 31, 2026. (6) Annualized for the periods presented. AVIDBANK HOLDINGS, INC. Average Balance Sheets and Net Interest Margin Analysis (Unaudited) For the Three Months Ended June 30, 2026 June 30, 2025 Interest Yields Interest Yields Average Income/ or Average Income/ or (In thousands) Balance Expense Rates(5) Balance Expense Rates(5) Assets Interest-earning assets: Loans, net of deferred fees(1) $ 2,195,164 $ 36,484 6.67 % $ 1,887,263 $ 32,967 7.01 % Interest-earning deposits 91,304 864 3.80 % 73,552 793 4.32 % Debt securities Taxable debt securities 217,311 2,529 4.67 % 291,074 1,672 2.30 % Non-taxable debt securities(2) 2,631 38 5.79 % 2,566 39 6.10 % Total debt securities 219,942 2,567 4.68 % 293,640 1,711 2.34 % FHLB stock 8,409 20 0.95 % 8,409 181 8.63 % Total interest-earning assets 2,514,819 39,935 6.37 % 2,262,864 35,652 6.32 % Non-interest-earning assets: Cash and due from financial institutions 16,004 10,120 All other assets(3) 34,715 49,280 Total assets $ 2,565,538 $ 2,322,264 Liabilities and Shareholders' Equity Interest-bearing liabilities: Interest-bearing demand deposits $ 1,055,578 $ 8,368 3.18 % $ 1,038,372 $ 9,483 3.66 % Money market and savings 509,766 3,427 2.70 % 398,438 3,094 3.11 % Time deposits 35,454 285 3.22 % 47,398 400 3.38 % Non-reciprocal brokered deposits 56,810 560 3.95 % 62,853 692 4.42 % Total interest-bearing deposits 1,657,608 12,640 3.06 % 1,547,061 13,669 3.54 % Short-term borrowings 20,703 196 3.80 % 108,374 1,242 4.60 % Subordinated debentures, net 22,000 410 7.48 % 22,000 443 8.08 % Total interest-bearing liabilities 1,700,311 13,246 3.12 % 1,677,435 15,354 3.67 % Non-interest-bearing liabilities: Demand deposits 552,659 425,154 Accrued expenses and other liabilities 17,742 19,067 Shareholders' equity 294,826 200,608 Total liabilities and shareholders' equity $ 2,565,538 $ 2,322,264 Net interest spread 3.25 % 2.65 % Net interest income and margin(4) $ 26,689 4.26 % $ 20,298 3.60 % Non-taxable equivalent net interest margin 4.26 % 3.60 % Cost of deposits $ 2,210,267 $ 12,640 2.29 % $ 1,972,215 $ 13,669 2.78 % (1) Non-performing loans are included in average loan balances. No adjustment has been made for these loans in the calculation of yields. Interest income on loans includes net amortization of deferred fees / (costs) of $260 thousand and $314 thousand, for the three months ended June 30, 2026 and June 30, 2025, respectively. (2) Interest income on tax-exempt securities has been increased to reflect comparable interest on taxable securities. The rate used was 21%, reflecting the statutory federal income tax rate. (3) Including negative balance on average allowance for credit losses on loans of $20.5 million and $19.1 million, respectively. (4) Net interest margin is net interest income divided by total interest-earning assets. (5) Annualized for the periods presented. AVIDBANK HOLDINGS, INC. Average Balance Sheets and Net Interest Margin Analysis (Unaudited) For the Six Months Ended June 30, 2026 June 30, 2025 Interest Yields Interest Yields Average Income/ or Average Income/ or (In thousands) Balance Expense Rates(6) Balance Expense Rates(6) Assets Interest-earning assets: Loans, net of deferred fees(1) $ 2,173,049 $ 71,913 6.67 % $ 1,873,068 $ 64,852 6.98 % Interest-earning deposits 85,116 1,581 3.75 % 68,989 1,499 4.38 % Debt securities Taxable debt securities 215,575 4,964 4.64 % 292,398 3,391 2.34 % Non-taxable debt securities(2) 2,659 77 5.84 % 2,626 77 5.91 % Total debt securities 218,234 5,041 4.66 % 295,024 3,468 2.37 % FHLB stock (5) 8,409 446 10.70 % 8,409 366 8.78 % Total interest-earning assets 2,484,808 78,981 6.41 % 2,245,490 70,185 6.30 % Non-interest-earning assets: Cash and due from financial institutions 14,539 11,478 All other assets(3) 35,898 49,220 Total assets $ 2,535,245 $ 2,306,188 Liabilities and Shareholders' Equity Interest-bearing liabilities: Interest-bearing demand deposits $ 1,061,520 $ 16,628 3.16 % $ 997,907 $ 18,013 3.64 % Money market and savings 513,533 6,816 2.68 % 391,972 5,965 3.07 % Time deposits 31,543 492 3.15 % 53,805 958 3.59 % Non-reciprocal brokered deposits 30,833 603 3.94 % 70,154 1,560 4.48 % Total interest-bearing deposits 1,637,429 24,539 3.02 % 1,513,838 26,496 3.53 % Short-term borrowings 23,088 436 3.81 % 139,072 3,153 4.57 % Subordinated debentures, net 21,999 809 7.42 % 22,000 878 8.05 % Total interest-bearing liabilities 1,682,516 25,784 3.09 % 1,674,910 30,527 3.68 % Non-interest-bearing liabilities: Demand deposits 543,398 415,504 Accrued expenses and other liabilities 18,301 19,501 Shareholders' equity 291,030 196,273 Total liabilities and shareholders' equity $ 2,535,245 $ 2,306,188 Net interest spread 3.32 % 2.62 % Net interest income and margin(4) $ 53,197 4.32 % $ 39,658 3.56 % Non-taxable equivalent net interest margin 4.32 % 3.56 % Cost of deposits $ 2,180,827 $ 24,539 2.27 % $ 1,929,342 $ 26,496 2.77 % (1) Non-performing loans are included in average loan balances. No adjustment has been made for these loans in the calculation of yields. Interest income on loans includes amortization of deferred fees / (costs) of $512 thousand and $810 thousand, for the six months ended June 30, 2026 and June 30, 2025, respectively. (2) Interest income on tax-exempt securities has been increased to reflect comparable interest on taxable securities. The rate used was 21%, reflecting the statutory federal income tax rate. (3) Including negative balance on average allowance for credit losses on loans of $21.2 million and $19.1 million, respectively. (4) Net interest margin is net interest income divided by total interest-earning assets. (5) Includes a special FHLB dividend totaling $241 thousand for the six months ended June 30, 2026. (6) Annualized for the periods presented. AVIDBANK HOLDINGS, INC. Asset Quality Data (Unaudited) As of / For the Year-to-Date June 30, March 31, Dec. 31, Sept. 30, June 30, Period Ended June 30, (In thousands) 2026 2026 2025 2025 2025 2026 2025 Allowance for Credit Losses on Loans Balance, beginning of period $ 20,938 $ 22,261 $ 21,025 $ 19,624 $ 18,722 $ 22,261 $ 18,679 Provision for credit losses on loans 2,461 1,433 2,759 1,364 891 3,894 891 Charge-offs (1,901 ) (3,171 ) (1,523 ) - - (5,072 ) - Recoveries 3 415 - 37 11 418 54 Balance, end of period $ 21,501 $ 20,938 $ 22,261 $ 21,025 $ 19,624 $ 21,501 $ 19,624 Allowance for Credit Losses on Unfunded Commitments Balance, beginning of period $ 2,363 $ 2,351 $ 2,272 $ 2,281 $ 2,247 $ 2,351 $ 2,247 Provision for unfunded commitments 328 12 79 (9 ) 34 340 34 Balance, end of period $ 2,691 $ 2,363 $ 2,351 $ 2,272 $ 2,281 $ 2,691 $ 2,281 Total allowance for credit losses - loans and unfunded commitments $ 24,192 $ 23,301 $ 24,612 $ 23,297 $ 21,905 $ 24,192 $ 21,905 Provision for credit losses Provision for credit losses on loans $ 2,461 $ 1,433 $ 2,759 $ 1,364 $ 891 $ 3,894 $ 891 Provision for unfunded commitments 328 12 79 (9 ) 34 340 34 Total provision for credit losses $ 2,789 $ 1,445 $ 2,838 $ 1,355 $ 925 $ 4,234 $ 925 Non-Performing Assets Loans accounted for on a non-accrual basis $ 14,448 $ 16,323 $ 24,502 $ 2,761 $ 1,352 $ 14,448 $ 1,352 Loans past due 90 days or more and still accruing - - - - - - - Non-performing loans 14,448 16,323 24,502 2,761 1,352 14,448 1,352 Other real estate owned - - - - - - - Non-performing assets $ 14,448 $ 16,323 $ 24,502 $ 2,761 $ 1,352 $ 14,448 $ 1,352 Non-Performing Loans by Type Commercial and industrial $ - $ - $ 5,088 $ 2,761 $ 1,352 $ - $ 1,352 Construction and land 14,448 16,323 19,414 - - 14,448 - Total non-performing loans $ 14,448 $ 16,323 $ 24,502 $ 2,761 $ 1,352 $ 14,448 $ 1,352 Asset Quality Ratios Allowance for credit losses on loans to total loans 0.97 % 0.96 % 1.04 % 1.07 % 1.03 % 0.97 % 1.03 % Total allowance for credit losses-loans and unfunded commitments to total loans 1.09 % 1.07 % 1.15 % 1.19 % 1.15 % 1.09 % 1.15 % Allowance for credit losses on loans to non-performing loans 148.82 % 128.27 % 90.85 % 761.50 % 1451.48 % 148.82 % 1451.48 % Non-performing assets to total assets 0.54 % 0.63 % 0.95 % 0.12 % 0.06 % 0.54 % 0.06 % Non-performing loans to total loans 0.65 % 0.75 % 1.14 % 0.14 % 0.07 % 0.65 % 0.07 % Net charge-offs to average loans(1) 0.35 % 0.52 % 0.30 % (0.01 )% 0.00 % 0.43 % (0.01 )% Criticized loans to total loans 2.16 % 1.57 % 0.50 % 1.48 % 1.87 % 2.16 % 1.87 % Classified loans to total loans 0.96 % 0.92 % 1.22 % 0.44 % 0.38 % 0.96 % 0.38 % (1) Annualized for the periods presented. AVIDBANK HOLDINGS, INC. Loans and Deposits (Unaudited) Current Year June 30, March 31, Dec. 31, Sept. 30, June 30, Quarter Over Year (In thousands) 2026 2026 2025 2025 2025 Change Change Loans Commercial and industrial loans $ 1,111,610 $ 1,040,684 $ 1,049,530 $ 871,524 $ 855,049 $ 70,926 $ 256,561 Commercial real estate Multi-family 280,787 268,057 265,105 249,802 241,399 12,730 39,388 Owner-Occupied 197,371 164,191 165,130 176,171 168,393 33,180 28,978 Non-Owner-Occupied 431,774 450,503 424,107 412,623 407,955 (18,729 ) 23,819 Construction and land 164,200 200,272 196,243 209,750 204,973 (36,072 ) (40,773 ) Residential 38,007 48,726 45,669 36,399 31,560 (10,719 ) 6,447 Total real estate loans 1,112,139 1,131,749 1,096,254 1,084,745 1,054,280 (19,610 ) 57,859 Consumer loans 370 413 2,655 2,316 2,389 (43 ) (2,019 ) Total loans, net of deferred fees $ 2,224,119 $ 2,172,846 $ 2,148,439 $ 1,958,585 $ 1,911,718 $ 51,273 $ 312,401 Deposits Non-interest-bearing demand $ 568,509 $ 577,101 $ 556,972 $ 471,770 $ 443,540 $ (8,592 ) $ 124,969 Interest-bearing checking 1,115,263 1,036,178 1,069,272 1,069,344 1,087,621 79,085 27,642 Money market and savings 538,399 519,059 532,149 465,198 399,849 19,340 138,550 Time 34,311 28,521 27,680 42,846 46,770 5,790 (12,459 ) Non-reciprocal brokered(1) 65,466 38,460 - - 25,001 27,006 40,465 Total deposits $ 2,321,948 $ 2,199,319 $ 2,186,073 $ 2,049,158 $ 2,002,781 $ 122,629 $ 319,167 Average Deposits Non-interest-bearing demand $ 552,659 $ 534,033 $ 526,610 $ 482,849 $ 425,154 $ 18,626 $ 127,505 Interest-bearing checking 1,055,578 1,067,528 1,088,413 1,074,064 1,038,372 (11,950 ) 17,206 Money market and savings 509,766 517,342 489,587 433,135 398,438 (7,576 ) 111,328 Time 35,454 27,589 31,266 43,897 47,398 7,865 (11,944 ) Non-reciprocal brokered 56,810 4,567 - 10,283 62,853 52,243 (6,043 ) Total deposits $ 2,210,267 $ 2,151,059 $ 2,135,876 $ 2,044,228 $ 1,972,215 $ 59,208 $ 238,052 (1) FDIC regulations impose a general cap on reciprocal deposits that may be exempt from brokered deposits classification equal to 20% of the Bank's total liabilities. As of June 30, 2026, March 31, 2026, December 31, 2025, September 30, 2025 and June 30, 2025, an additional $513.0 million, $447.6 million, $475.4 million, $522.5 million, and $495.4 million of our deposits were considered brokered deposits by the FDIC due to being in excess of the general cap, respectively. AVIDBANK HOLDINGS, INC. Non-GAAP Performance and Financial Measures Reconciliation (Unaudited) Management believes that adjusted net income, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average equity, adjusted efficiency ratio and taxable equivalent net interest income are reasonable measures to understand the Company's core operating performance and are important to many investors who are interested in understanding our profitability prospects from our core operations. In addition, management reviews yields on certain asset categories and the net interest margin of the Company on a fully taxable equivalent basis. The non-GAAP taxable equivalent net interest income adjustment facilitates performance comparisons between taxable and tax-free assets by increasing the tax-free income by an amount equivalent to the Federal income taxes that would have been paid if this income were taxable at the Company's 21% Federal statutory rate. For the Three Months Ended For the Six Months Ended June 30, March 31, Dec. 31, Sept. 30, June 30, June 30, June 30, (In thousands) 2026 2026 2025 2025 2025 2026 2025 Non-GAAP adjusted net income reconciliation Net income / (loss) - GAAP $ 7,647 $ 9,021 $ 6,949 $ (37,735 ) $ 5,797 $ 16,668 $ 11,233 Settlement of litigation 2,637 - - - - 2,637 - BOLI death benefit income (1,338 ) - - - - (1,338 ) - Loss on sale of securities - - - 62,391 - - - Tax effect of adjustments (749 ) - - (17,949 ) - (749 ) - Net income - adjusted (non-GAAP) $ 8,197 $ 9,021 $ 6,949 $ 6,707 $ 5,797 $ 17,218 $ 11,233 Non-GAAP adjusted diluted earnings per share reconciliation Diluted earnings / (loss) per share - GAAP $ 0.71 $ 0.84 $ 0.65 $ (4.12 ) $ 0.75 $ 1.55 $ 1.46 Settlement of litigation, net of income tax 0.17 - - - - 0.17 - BOLI death benefit income (0.12 ) - - - - (0.12 ) - Loss on sale of securities, net of income tax - - - 4.84 - - - Diluted earnings per share - adjusted (non-GAAP) $ 0.76 $ 0.84 $ 0.65 $ 0.72 $ 0.75 $ 1.60 $ 1.46 Average common shares - diluted - adjusted 10,776,924 10,773,884 10,754,488 9,353,444 7,686,385 10,775,066 7,684,976 Non-GAAP adjusted return on average assets reconciliation Net income / (loss) - GAAP $ 7,647 $ 9,021 $ 6,949 $ (37,735 ) $ 5,797 $ 16,668 $ 11,233 Average total assets 2,565,538 2,504,616 2,459,110 2,357,158 2,322,264 2,535,245 2,306,188 Return on average assets - GAAP(1) 1.20 % 1.46 % 1.12 % (6.35 )% 1.00 % 1.33 % 0.98 % Net income - adjusted (non-GAAP) $ 8,197 $ 9,021 $ 6,949 $ 6,707 $ 5,797 $ 17,218 $ 11,233 Average total assets 2,565,538 2,504,616 2,459,110 2,357,158 2,322,264 2,535,245 2,306,188 Return on average assets - adjusted (non-GAAP)(1) 1.28 % 1.46 % 1.12 % 1.13 % 1.00 % 1.37 % 0.98 % Non-GAAP adjusted return on average equity reconciliation Net income / (loss) - GAAP $ 7,647 $ 9,021 $ 6,949 $ (37,735 ) $ 5,797 $ 16,668 $ 11,233 Average total equity 294,826 287,191 278,382 236,903 200,608 291,030 196,273 Return on average equity - GAAP (1) 10.40 % 12.74 % 9.90 % (63.19 )% 11.59 % 11.55 % 11.54 % Net income - adjusted (non-GAAP) $ 8,197 $ 9,021 $ 6,949 $ 6,707 $ 5,797 $ 17,218 $ 11,233 Average total equity 294,826 287,191 278,382 236,903 200,608 291,030 196,273 Return on average equity - adjusted (non-GAAP) (1) 11.15 % 12.74 % 9.90 % 11.23 % 11.59 % 11.93 % 11.54 % Non-GAAP adjusted efficiency ratio reconciliation Non-interest expense $ 16,473 $ 14,082 $ 13,851 $ 13,479 $ 12,609 $ 30,556 $ 25,451 Net interest income 26,681 26,500 25,013 22,650 20,290 53,181 39,642 Non-interest income 3,050 1,467 1,767 (60,852 ) 1,538 4,517 2,709 Efficiency ratio - GAAP 55.41 % 50.35 % 51.72 % (35.28 )% 57.77 % 52.96 % 60.10 % Non-interest expense $ 16,473 $ 14,082 $ 13,851 $ 13,479 $ 12,609 $ 30,556 $ 25,451 Settlement of litigation 2,637 - - - - 2,637 - Non-interest expense - adjusted 13,836 14,082 13,851 13,479 12,609 27,919 25,451 Net interest income 26,681 26,500 25,013 22,650 20,290 53,181 39,642 Non-interest income 3,050 1,467 1,767 (60,852 ) 1,538 4,517 2,709 BOLI death benefit income (1,338 ) - - - - (1,338 ) - Loss on sale of securities - - - 62,391 - - - Non-interest income - adjusted 1,712 1,467 1,767 1,539 1,538 3,179 2,709 Efficiency ratio - adjusted (non-GAAP) 48.73 % 50.35 % 51.72 % 55.72 % 57.77 % 49.54 % 60.10 % Non-GAAP taxable equivalent net interest income reconciliation Net interest income - GAAP $ 26,681 $ 26,500 $ 25,013 $ 22,650 $ 20,290 $ 53,181 $ 39,642 Taxable equivalent adjustment 8 8 8 8 8 16 16 Net interest income - taxable equivalent (non-GAAP) $ 26,689 $ 26,508 $ 25,021 $ 22,658 $ 20,298 $ 53,197 $ 39,658 Non-GAAP taxable equivalent net interest margin reconciliation Net interest margin - GAAP(1) 4.26 % 4.38 % 4.13 % 3.90 % 3.60 % 4.32 % 3.56 % Impact of taxable equivalent adjustment - - - - - - - Net interest margin - taxable equivalent (non-GAAP)(1) 4.26 % 4.38 % 4.13 % 3.90 % 3.60 % 4.32 % 3.56 % (1) Annualized for the periods presented. SOURCE: Avidbank Holdings, Inc. View the original press release on ACCESS Newswire Categories: Press Releases View all news