Avidbank Holdings, Inc. Announces Financial Results for the Third Quarter of 2025

View all news AVIDBANK October 23, 2025 Avidbank Holdings, Inc. (NASDAQ:AVBH) (the "Company" or "Avidbank Holdings"), the holding company for Avidbank, a California state-chartered bank (the "Bank"), announced a net loss for the third quarter of 2025 of $37.7 million, or ($4.12) per diluted share, compared to net income of $5.8 million, or $0.75 per diluted share, for the second quarter of 2025 and $5.8 million, or $0.77 per diluted share, for the third quarter of 2024. Results for the third quarter included a $62.4 million loss on the sale of available-for-sale securities. Excluding that item, adjusted net income(1) totaled $6.7 million, or $0.72 per adjusted diluted share(1) for the third quarter of 2025. Significant events for the third quarter of 2025 included the following: In August 2025, the Company completed an initial public offering ("IPO") of its common stock, issuing an aggregate total of 3,001,500 shares of common stock at the public offering price of $23.00 per share. After deductions for underwriting fees and commissions and estimated offering expenses, the Company's net proceeds from the initial public offering totaled $61.3 million. Sold $274.7 million in available-for-sale securities for a loss of $62.4 million; purchased $163.2 million in available-for-sale securities with an average purchase yield of 4.54% and a duration of 2.8 years; and, paid off short-term borrowings using proceeds from the IPO and securities sales. Third Quarter 2025 Highlights Net interest margin expanded to 3.90% in the third quarter of 2025, compared to 3.60% in the second quarter of 2025. Return on average assets was (6.35%) compared to 1.00% in the second quarter of 2025 and 1.02% in the third quarter of 2024. Excluding the loss from the sale of available-for-sale securities, adjusted return on average assets(1) improved to 1.13% in the third quarter of 2025 compared to 1.00% in the prior quarter. Period-end loans, net of deferred loan fees increased $46.9 million, or 10% annualized, from June 30, 2025 and $171.8 million, or 10%, from September 30, 2024. Average deposits increased $72.0 million, or 15% annualized, from the second quarter of 2025 and $238.3 million, or 13%, from the third quarter of 2024. The efficiency ratio was (35.28%) compared to 57.77% in the second quarter of 2025 and 59.29% in the third quarter of 2024. Excluding the loss from the sale of available-for-sale securities, the adjusted efficiency ratio(1) improved to 55.72% in the third quarter. Book value per share was $25.00 at September 30, 2025, a decrease of $0.80 from June 30, 2025, and an increase of $1.05 from September 30, 2024. Nonperforming assets to total assets totaled 0.12% as of September 30, 2025 compared to 0.06% at June 30, 2025 and 0.16% at September 30, 2024. "The third quarter of 2025 was pivotal for Avidbank as we completed our successful IPO which enabled us to reposition our securities portfolio and position Avidbank for future long-term success," said Mark D. Mordell, Chairman and Chief Executive Officer. "In addition to the IPO, we believe our strong loan and deposit growth and improved profitability reflect the strength of our franchise and the trust we've built with our clients. While the repositioning of our securities portfolio impacted third quarter results, it should significantly enhance our future profitability. We are optimistic about the opportunities ahead and remain focused on delivering sustainable growth and value for our shareholders." Results of Operations Net interest income totaled $22.7 million for the third quarter of 2025, an increase of $2.4 million, or 46% annualized, from the second quarter of 2025, and an increase of $4.0 million, or 22%, from the third quarter of 2024. Net interest margin was 3.90% in the third quarter of 2025, an increase of 30 basis points compared to the second quarter of 2025, and a 55-basis-point increase compared to the third quarter of 2024. The increase in net interest margin compared to the prior quarter was primarily driven by lower average short-term borrowings, an increase in average noninterest-bearing demand deposits, and lower cost of deposits as well as improvement in interest income due to the sale of low-yielding securities as part of the repositioning of our available-for-sale securities portfolio. The yield on securities increased in the third quarter of 2025 to 2.55% compared to 2.34% in the second quarter of 2025 and 2.26% in the third quarter of 2024 due to the sale of lower-yielding available-for-sale securities during the third quarter of 2025. The yield on loans in the third quarter of 2025 was 6.98%, a decrease of 3 basis points from the second quarter of 2025 and a decrease of 40 basis points from the third quarter of 2024. The decrease in loan yields was driven by reductions in the prime rate. The yield on interest-earning assets increased 10 basis points during the third quarter of 2025 compared to the second quarter of 2025 while overall funding costs declined by 9 basis points. The cost of interest-bearing deposits in the third quarter of 2025 was 3.50%, a decrease of 4 basis points compared to the second quarter of 2025 and a decrease of 66 basis points compared to the third quarter of 2024. The cost of deposits in the third quarter of 2025 was 2.67%, a decrease of 11 basis points from the second quarter of 2025 and a decrease of 55 basis points from the third quarter of 2024. The provision for credit losses was $1.4 million in the third quarter of 2025, compared to $925,000 in the second quarter of 2025 and $0 in the third quarter of 2024. The provision was higher in the third quarter of 2025 compared to the second quarter primarily due to higher loan balances and the addition of one nonaccrual loan. Noninterest income was ($60.9) million in the third quarter of 2025 compared to $1.5 million in the second quarter of 2025 and $1.8 million in the third quarter of 2024. The third quarter of 2025 included a $62.4 million loss on the sale of securities resulting from the repositioning of the available-for-sale securities portfolio, partially offset by an increase in other investments income due to fair value adjustments and distributions. Noninterest expense totaled $13.5 million for the third quarter of 2025, compared to $12.6 million in the second quarter of 2025 and $12.1 million in the third quarter of 2024. The increase from the second quarter was primarily due to higher salaries and benefits expense driven by an increase in incentives expense, IPO-related expenses and lower capitalized loan origination costs during the third quarter of 2025. Partially offsetting the increase in noninterest expense was a decrease in legal and professional fees of $124,000 due to elevated expense related to proxy matters along with general corporate and securities matters in the second quarter of 2025. There were 151 full-time equivalent employees on September 30, 2025, compared to 149 on June 30, 2025. Financial Condition Total assets were $2.36 billion as of September 30, 2025, compared to $2.39 billion as of June 30, 2025, and $2.30 billion at September 30, 2024. Cash and cash equivalents were $177.3 million on September 30, 2025, compared to $129.9 million on June 30, 2025, and $136.5 million on September 30, 2024. Loans, net of deferred loan fees, on September 30, 2025, totaled $1.96 billion, an increase of $46.9 million, or 10% annualized, from June 30, 2025, and an increase of $171.8 million, or 10%, from September 30, 2024. The increase in loans during the third quarter of 2025 included an increase of $16.5 million in commercial and industrial loans, $8.4 million in multi-family loans and $7.8 million in owner occupied loans. The allowance for credit losses on loans was $21.0 million on September 30, 2025, representing an increase of $1.4 million from June 30, 2025 and a decrease of $1.3 million compared to September 30, 2024. The allowance for credit losses - loans and unfunded commitments to total loans was 1.19% on September 30, 2025, compared to 1.15% on June 30, 2025 and 1.37% as of September 30, 2024. Nonperforming loans to total loans was 0.14% at September 30, 3025, up 7 basis points compared to June 30, 2025 and down 6 basis points from September 30, 2024. The available-for-sale securities portfolio totaled $173.6 million as of September 30, 2025, compared to $292.8 million at June 30, 2025, and $316.7 million as of September 30, 2024. The net unrealized loss for the available-for-sale portfolio totaled $689,000 as of September 30, 2025, compared to $63.4 million at June 30, 2025 and $59.0 million as of September 30, 2024. The decrease during the third quarter of 2025 was due to the sale of securities resulting from repositioning our available-for-sale securities portfolio. Deposits were $2.05 billion on September 30, 2025, an increase of $46.4 million, or 9% annualized, from June 30, 2025, and an increase of $147.6 million, or 8% from September 30, 2024. The change in deposits during the third quarter of 2025 included a $65.3 million increase in money market and savings and an increase of $28.2 million in noninterest-bearing demand deposits, partially offset by an $18.3 million decrease in interest-bearing checking and a $25.0 million decrease in non-reciprocal brokered deposits. Quarterly average deposits for the third quarter of 2025 were $2.04 billion, an increase of $72.0 million from the second quarter of 2025, and an increase of $238.3 million from the third quarter of 2024. Average noninterest-bearing demand deposits increased $57.7 million compared to the second quarter of 2025. There were no short-term borrowings outstanding at September 30, 2025, compared to $145.0 million at June 30, 2025, and $160.0 million at September 30, 2024. Part of the proceeds from the IPO and the sale of securities during the third quarter of 2025 were used to pay off outstanding short-term borrowings. Average short-term borrowings decreased $74.9 million in the third quarter of 2025 compared to the second quarter of 2025. Book value per share was $25.00 on September 30, 2025, a decrease of $0.80 compared to June 30, 2025, and an increase of $1.05 compared to September 30, 2024. The decrease was due to new shares issued as part of the IPO during the third quarter of 2025. Total shareholders' equity was $273.1 million on September 30, 2025, an increase of $68.7 million compared to June 30, 2025, and an increase of $84.6 million from September 30, 2024. The change from June 30, 2025 to September 30, 2025 included net proceeds from the IPO totaling $61.3 million, a decrease in retained earnings of $37.7 million offset by an improvement in accumulated other comprehensive loss of $44.7 million, due to the recognized loss on the sale of available-for-sale securities. Other Information The Company will host a conference call on October 24, 2025, at 11:00 a.m. (Eastern Time) / 8:00 a.m. (Pacific Time) to discuss the third quarter of 2025 earnings results. Investors may call in by dialing (800) 715-9871 within the US and +1(646) 307-1963 for all other locations (Conference ID: 6048183). Participants may also pre-register for the conference by navigating to https://events.q4inc.com/attendee/814049300. Access detail will be provided via email upon completion of registration. 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 October 24, 2025, 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, taxable equivalent net interest income and taxable equivalent net interest margin 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. Forward-looking statements include information concerning our possible or assumed future results of operations, including descriptions of our business strategy and expectations. 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; our inability to successfully reposition our available-for-sale securities portfolio utilizing the proceeds from our public offering; incurrence of any losses in connection with any repositioning of our available-for-sale securities portfolio utilizing the proceeds from our recently completed public offering; the effects of a prolonged government shutdown; the occurrence of significant natural disasters, including fires and earthquakes, and acts of war or terrorism; our ability to conduct our business could be disrupted by 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 and their customer and community relationships; 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 nonperforming 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 acquisitions or dispositions we may make or evaluate, and the costs associated with any potential or actual acquisition or disposition; 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 public offering; and our success at managing any of the risks involved any of 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 quarterly report on Form 10-Q, under the heading "Risk Factors" 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) (In thousands, except share and per share amounts) For the Three Months Ended For the Nine Months Ended Sept. 30, June 30, March 31, Dec. 31, Sept. 30, Sept. 30, Sept. 30, 2025 2025 2025 2024 2024 2025 2024 INCOME HIGHLIGHTS Net (loss) / income $ (37,735 ) $ 5,797 $ 5,436 $ 6,457 $ 5,846 $ (26,502 ) $ 14,558 Net income-adjusted(2) $ 6,707 $ 5,797 $ 5,436 $ 6,457 $ 5,846 $ 17,940 $ 14,558 PER SHARE DATA Basic (loss) / earnings per share $ (4.12 ) $ 0.77 $ 0.73 $ 0.87 $ 0.79 $ (3.28 ) $ 1.96 Diluted (loss) / earnings per share (4.12 ) 0.75 0.71 0.84 0.77 (3.28 ) 1.92 Diluted earnings per share-adjusted(2) 0.72 0.75 0.71 0.84 0.77 2.18 1.92 Book value per share 25.00 25.80 24.85 23.57 23.95 25.00 23.95 PERFORMANCE MEASURES Return on average assets(1) (6.35 )% 1.00 % 0.96 % 1.14 % 1.02 % (1.53 )% 0.86 % Return on average assets-adjusted(1)(2) 1.13 % 1.00 % 0.96 % 1.14 % 1.02 % 1.03 % 0.86 % Return on average equity(1) (63.19 )% 11.59 % 11.49 % 13.65 % 12.97 % (16.88 )% 11.37 % Return on average equity-adjusted(1) (2) 11.23 % 11.59 % 11.49 % 13.65 % 12.97 % 11.42 % 11.37 % Net interest margin(1) 3.90 % 3.60 % 3.52 % 3.48 % 3.35 % 3.68 % 3.42 % Net interest margin - taxable equivalent(1) (2) 3.90 % 3.60 % 3.52 % 3.49 % 3.35 % 3.68 % 3.42 % Efficiency ratio (35.28 )% 57.77 % 62.57 % 52.53 % 59.29 % 938.30 % 60.27 % Efficiency ratio-adjusted(2) 55.72 % 57.77 % 62.57 % 52.53 % 59.29 % 58.51 % 60.27 % Average loans to average deposits 94.14 % 95.69 % 98.55 % 95.86 % 99.90 % 96.05 % 101.62 % CAPITAL Tier 1 leverage ratio(3) 11.10 % 10.53 % 10.39 % 10.35 % 9.93 % 11.10 % 9.93 % Common equity tier 1 capital ratio(3) 11.68 % 11.02 % 11.10 % 10.59 % 10.75 % 11.68 % 10.75 % Tier 1 risk-based capital ratio(3) 11.68 % 11.02 % 11.10 % 10.59 % 10.75 % 11.68 % 10.75 % Total risk-based capital ratio(3) 13.48 % 12.76 % 12.86 % 12.30 % 12.92 % 13.48 % 12.92 % Common equity ratio 11.56 % 8.55 % 8.48 % 8.09 % 8.21 % 11.56 % 8.21 % SHARES OUTSTANDING Number of common shares outstanding 10,925,102 7,923,946 7,912,184 7,906,761 7,871,818 10,925,102 7,871,818 Average common shares outstanding - basic 9,168,707 7,534,264 7,488,051 7,455,650 7,434,726 8,069,830 7,416,173 Average common shares outstanding - diluted 9,168,707 7,686,385 7,682,884 7,661,711 7,622,428 8,069,830 7,584,349 ASSET QUALITY Total allowance for credit losses-loans and unfunded commitments 1.19 % 1.15 % 1.14 % 1.12 % 1.37 % 1.19 % 1.37 % Nonperforming assets to total assets 0.12 % 0.06 % 0.06 % 0.06 % 0.16 % 0.12 % 0.16 % Nonperforming loans to total loans 0.14 % 0.07 % 0.07 % 0.07 % 0.20 % 0.14 % 0.20 % Net charge-offs to average loans(1) (0.01 )% 0.00 % (0.01 )% 0.93 % 0.02 % (0.01 )% 0.01 % AVERAGE BALANCES Loans, net of deferred loan fees $ 1,924,537 $ 1,887,263 $ 1,858,716 $ 1,815,933 $ 1,804,107 $ 1,890,413 $ 1,791,479 Investment securities 181,154 293,640 296,422 308,502 311,450 256,650 312,723 Total assets 2,357,158 2,322,264 2,289,935 2,250,086 2,272,623 2,323,365 2,253,729 Deposits 2,044,228 1,972,215 1,885,993 1,894,321 1,805,935 1,968,059 1,762,857 Shareholders' equity 236,903 200,608 191,891 188,170 179,260 209,965 171,043 (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 and nine months ended September 30, 2025. AVIDBANK HOLDINGS, INC. Consolidated Statements of Financial Condition (Unaudited) (In thousands) Sept. 30, June 30, March 31, Dec. 31, Sept. 30, 2025 2025 2025 2024 2024 Assets Cash and due from banks $ 12,006 $ 2,800 $ 18,866 $ 8,662 $ 15,172 Due from Federal Reserve Bank and interest-bearing deposits in banks 165,313 127,123 106,135 74,039 121,361 Total cash and cash equivalents 177,319 129,923 125,001 82,701 136,533 Investment securities available-for-sale 173,588 292,808 296,617 296,556 316,741 Loans, net of deferred loan fees 1,958,585 1,911,718 1,841,187 1,864,942 1,786,756 Allowance for credit losses on loans (21,025 ) (19,624 ) (18,722 ) (18,679 ) (22,315 ) Loans, net of allowance for credit losses on loans 1,937,560 1,892,094 1,822,465 1,846,263 1,764,441 Bank owned life insurance 12,953 12,857 12,764 12,674 12,580 Premises and equipment, net 1,739 1,927 2,118 2,331 2,549 Accrued interest receivable and other assets 59,295 62,520 60,957 63,963 62,625 Total assets $ 2,362,454 $ 2,392,129 $ 2,319,922 $ 2,304,488 $ 2,295,469 Liabilities and Shareholders' Equity Deposits: Noninterest-bearing demand $ 471,770 $ 443,540 $ 419,823 $ 414,327 $ 405,528 Interest-bearing checking 1,069,344 1,087,621 965,467 993,219 1,026,898 Money market and savings 465,198 399,849 399,010 338,578 336,166 Time 42,846 46,770 58,273 74,468 75,033 Non-reciprocal brokered(1) - 25,001 86,915 70,763 57,903 Total deposits 2,049,158 2,002,781 1,929,488 1,891,355 1,901,528 Subordinated debt, net 22,000 22,000 22,000 22,000 21,982 Short-term borrowings - 145,000 155,000 185,000 160,000 Accrued interest payable and other liabilities 18,183 17,929 16,815 19,771 23,438 Total liabilities 2,089,341 2,187,710 2,123,303 2,118,126 2,106,948 Shareholders' Equity Common stock 169,342 107,608 106,839 106,997 106,169 Retained earnings 104,201 141,936 136,139 130,703 124,246 Accumulated other comprehensive loss (430 ) (45,125 ) (46,359 ) (51,338 ) (41,894 ) Total shareholders' equity 273,113 204,419 196,619 186,362 188,521 Total liabilities and shareholders' equity $ 2,362,454 $ 2,392,129 $ 2,319,922 $ 2,304,488 $ 2,295,469 (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 September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, an additional $522.5 million, $495.4 million, $447.8 million, $470.0 million and $509.3 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) (in thousands, except share and per share amounts) For the Three Months Ended For the Nine Months Ended Sept. 30, June 30, March 31, Dec. 31, Sept. 30, Sept. 30, Sept. 30, 2025 2025 2025 2024 2024 2025 2024 Interest and fees on loans $ 33,880 $ 32,967 $ 31,885 $ 32,308 $ 33,488 $ 98,732 $ 98,570 Interest on investment securities 1,157 1,703 1,749 1,770 1,767 4,609 5,392 Federal Home Loan Bank dividends 184 181 185 185 183 550 567 Other interest income 2,033 793 706 681 1,198 3,532 2,968 Total interest income 37,254 35,644 34,525 34,944 36,636 107,423 107,497 Deposit interest expense 13,776 13,669 12,827 14,015 14,602 40,272 40,130 Interest on short-term borrowings 385 1,242 1,911 1,437 3,121 3,538 10,443 Interest on subordinated debt 443 443 435 293 300 1,321 901 Total interest expense 14,604 15,354 15,173 15,745 18,023 45,131 51,474 Net interest income 22,650 20,290 19,352 19,199 18,613 62,292 56,023 Provision for credit losses 1,355 925 - 779 - 2,280 3,317 Net interest income after provision for credit losses 21,295 19,365 19,352 18,420 18,613 60,012 52,706 Service charges and bank fees 779 840 762 649 675 2,381 1,951 Foreign exchange income 267 196 220 191 246 683 706 Income from bank owned life insurance 96 93 90 93 90 279 415 Warrant and success fee income - 273 - 65 - 273 - Loss on sale of securities (62,391 ) - - - - (62,391 ) - Other investment income 315 (23 ) 47 637 240 339 454 Other income 82 159 52 205 539 293 644 Total noninterest income (60,852 ) 1,538 1,171 1,840 1,790 (58,143 ) 4,170 Salaries and benefit expenses 9,766 8,978 9,097 7,389 8,336 27,841 25,111 Occupancy and equipment expenses 723 759 996 919 1,033 2,478 3,099 Data processing 792 759 615 613 638 2,166 1,799 Regulatory assessments 445 420 544 541 528 1,409 1,542 Legal and professional fees 591 715 511 452 534 1,817 1,686 Other operating expenses 1,162 978 1,079 1,138 1,028 3,219 3,043 Total noninterest expense 13,479 12,609 12,842 11,052 12,097 38,930 36,280 (Loss) / income before income taxes (53,036 ) 8,294 7,681 9,208 8,306 (37,061 ) 20,596 (Benefit) / provision for income taxes (15,301 ) 2,497 2,245 2,751 2,460 (10,559 ) 6,038 Net (loss) / income $ (37,735 ) $ 5,797 $ 5,436 $ 6,457 $ 5,846 $ (26,502 ) $ 14,558 Basic (loss) / earnings per common share $ (4.12 ) $ 0.77 $ 0.73 $ 0.87 $ 0.79 $ (3.28 ) $ 1.96 Diluted (loss) / earnings per common share (4.12 ) 0.75 0.71 0.84 0.77 (3.28 ) 1.92 Weighted average shares - basic 9,168,707 7,534,264 7,488,051 7,455,650 7,434,726 8,069,830 7,416,173 Weighted average shares - diluted 9,168,707 7,686,385 7,682,884 7,661,711 7,622,428 8,069,830 7,584,349 AVIDBANK HOLDINGS, INC. Average Balance Sheets and Net Interest Margin Analysis (Unaudited) (In thousands) For the Three Months Ended September 30, 2025 June 30, 2025 Interest Yields Interest Yields Average Income/ or Average Income/ or Balance Expense Rates(5) Balance Expense Rates(5) Assets Interest-earning assets: Loans, net of deferred fees(1) $ 1,924,537 $ 33,880 6.98 % $ 1,887,263 $ 32,967 7.01 % Fed funds sold / interest-bearing deposits 189,921 2,033 4.25 % 73,552 793 4.32 % Investment securities Taxable investment securities 178,637 1,126 2.50 % 291,074 1,672 2.30 % Non-taxable investment securities(2) 2,517 39 6.15 % 2,566 39 6.10 % Total investment securities 181,154 1,165 2.55 % 293,640 1,711 2.34 % FHLB stock 8,409 184 8.68 % 8,409 181 8.63 % Total interest-earning assets 2,304,021 37,262 6.42 % 2,262,864 35,652 6.32 % Noninterest-earning assets: Cash and due from banks 7,019 10,120 All other assets(3) 46,118 49,280 Total assets $ 2,357,158 $ 2,322,264 Liabilities and Shareholders' Equity Interest-bearing liabilities: Interest-bearing demand deposits $ 1,074,064 $ 9,961 3.68 % $ 1,038,372 $ 9,483 3.66 % Money market and savings 433,135 3,336 3.06 % 398,438 3,094 3.11 % Time deposits 43,897 365 3.30 % 47,398 400 3.38 % Non-reciprocal brokered deposits 10,283 114 4.40 % 62,853 692 4.42 % Total interest-bearing deposits 1,561,379 13,776 3.50 % 1,547,061 13,669 3.54 % Short-term borrowings 33,500 385 4.56 % 108,374 1,242 4.60 % Subordinated debt 22,000 443 7.99 % 22,000 443 8.08 % Total interest-bearing liabilities 1,616,879 14,604 3.58 % 1,677,435 15,354 3.67 % Noninterest-bearing liabilities: Demand deposits 482,849 425,154 Accrued expenses and other liabilities 20,527 19,067 Shareholders' equity 236,903 200,608 Total liabilities and shareholders' equity $ 2,357,158 $ 2,322,264 Net interest spread 2.83 % 2.65 % Net interest income and margin(4) $ 22,658 3.90 % $ 20,298 3.60 % Non-taxable equivalent net interest margin 3.90 % 3.60 % Cost of deposits $ 2,044,228 $ 13,776 2.67 % $ 1,972,215 $ 13,669 2.78 % (1) Nonperforming 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 loan fees / (costs) of $444 thousand and $314 thousand, for the three months ended September 30, 2025 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 $20.1 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) (In thousands) For the Three Months Ended September 30, 2025 September 30, 2024 Interest Yields Interest Yields Average Income/ or Average Income/ or Balance Expense Rates(5) Balance Expense Rates(5) Assets Interest-earning assets: Loans, net of deferred fees(1) $ 1,924,537 $ 33,880 6.98 % $ 1,804,107 $ 33,488 7.38 % Fed funds sold / interest-bearing deposits 189,921 2,033 4.25 % 87,228 1,198 5.46 % Investment securities Taxable investment securities 178,637 1,126 2.50 % 309,624 1,745 2.24 % Non-taxable investment securities(2) 2,517 39 6.15 % 1,826 28 6.10 % Total investment securities 181,154 1,165 2.55 % 311,450 1,773 2.26 % FHLB stock 8,409 184 8.68 % 8,409 183 8.66 % Total interest-earning assets 2,304,021 37,262 6.42 % 2,211,194 36,642 6.59 % Noninterest-earning assets: Cash and due from banks 7,019 12,943 All other assets(3) 46,118 48,486 Total assets $ 2,357,158 $ 2,272,623 Liabilities and Shareholders' Equity Interest-bearing liabilities: Interest-bearing demand deposits $ 1,074,064 $ 9,961 3.68 % $ 903,542 $ 9,801 4.32 % Money market and savings 433,135 3,336 3.06 % 348,125 3,067 3.50 % Time deposits 43,897 365 3.30 % 75,972 810 4.24 % Non-reciprocal brokered deposits 10,283 114 4.40 % 69,670 924 5.28 % Total interest-bearing deposits 1,561,379 13,776 3.50 % 1,397,309 14,602 4.16 % Short-term borrowings 33,500 385 4.56 % 237,370 3,121 5.23 % Subordinated debt 22,000 443 7.99 % 21,970 300 5.44 % Total interest-bearing liabilities 1,616,879 14,604 3.58 % 1,656,649 18,023 4.33 % Noninterest-bearing liabilities: Demand deposits 482,849 408,626 Accrued expenses and other liabilities 20,527 28,088 Shareholders' equity 236,903 179,260 Total liabilities and shareholders' equity $ 2,357,158 $ 2,272,623 Net interest spread 2.83 % 2.26 % Net interest income and margin(4) $ 22,658 3.90 % $ 18,619 3.35 % Non-taxable equivalent net interest margin 3.90 % 3.35 % Cost of deposits $ 2,044,228 $ 13,776 2.67 % $ 1,805,935 $ 14,602 3.22 % (1) Nonperforming 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 loan fees / (costs) of $444 thousand and $383 thousand, for the three months ended September 30, 2025 and September 30, 2024, 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 $20.1 million and $22.4 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) (In thousands) For the Nine Months Ended September 30, 2025 September 30, 2024 Interest Yields Interest Yields Average Income/ or Average Income/ or Balance Expense Rates(5) Balance Expense Rates(5) Assets Interest earning assets: Loans, net of deferred fees(1) $ 1,890,413 $ 98,732 6.98 % $ 1,791,479 $ 98,570 7.35 % Fed funds sold / interest bearing deposits 109,743 3,532 4.30 % 72,424 2,968 5.47 % Investment securities Taxable investment securities 254,061 4,517 2.38 % 310,891 5,325 2.29 % Non-taxable investment securities(2) 2,589 116 5.99 % 1,832 84 6.12 % Total investment securities 256,650 4,633 2.41 % 312,723 5,409 2.31 % FHLB stock 8,409 550 8.74 % 8,409 567 9.01 % Total interest-earning assets 2,265,215 107,447 6.34 % 2,185,035 107,514 6.57 % Noninterest-earning assets: Cash and due from banks 9,975 12,723 All other assets(3) 48,175 55,971 Total assets $ 2,323,365 $ 2,253,729 Liabilities and Shareholders' Equity Interest-bearing liabilities: Interest-bearing demand deposits $ 1,023,572 $ 27,974 3.65 % $ 811,505 $ 25,272 4.16 % Money market and savings 405,844 9,301 3.06 % 318,811 7,935 3.32 % Time deposits 50,466 1,323 3.51 % 76,725 2,400 4.18 % Non-reciprocal brokered deposits 49,978 1,674 4.48 % 113,199 4,523 5.34 % Total interest-bearing deposits 1,529,860 40,272 3.52 % 1,320,240 40,130 4.06 % Short-term borrowings 103,495 3,538 4.57 % 271,427 10,443 5.14 % Subordinated debt 22,000 1,321 8.03 % 21,944 901 5.48 % Total interest-bearing liabilities 1,655,355 45,131 3.65 % 1,613,611 51,474 4.26 % Noninterest-bearing liabilities: Demand deposits 438,199 442,617 Accrued expenses and other liabilities 19,846 26,458 Shareholders' equity 209,965 171,043 Total liabilities and shareholders' equity $ 2,323,365 $ 2,253,729 Net interest spread 2.70 % 2.31 % Net interest income and margin(4) $ 62,316 3.68 % $ 56,040 3.42 % Non-taxable equivalent net interest margin 3.68 % 3.42 % Cost of deposits $ 1,968,059 $ 40,272 2.74 % $ 1,762,857 $ 40,130 3.04 % (1) Nonperforming 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 loan fees / (costs) of $1.4 million and $1.2 million, for the nine months ended September 30, 2025 and September 30, 2024, 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 $19.3 million and $20.5 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. Asset Quality Data (Unaudited) (In thousands) As of / For the Year-to-Date Sept. 30, June 30, March 31, Dec. 31, Sept. 30, Period Ended Sept. 30, 2025 2025 2025 2024 2024 2025 2024 Allowance for Credit Losses on Loans Balance, beginning of period $ 19,624 $ 18,722 $ 18,679 $ 22,315 $ 22,410 $ 18,679 $ 19,131 Provision for credit losses on loans 1,364 891 - 630 - 2,255 3,279 Charge-offs - - - (4,266 ) (95 ) - (95 ) Recoveries 37 11 43 - - 91 - Balance, end of period $ 21,025 $ 19,624 $ 18,722 $ 18,679 $ 22,315 $ 21,025 $ 22,315 Allowance for Credit Losses on Unfunded Commitments Balance, beginning of period $ 2,281 $ 2,247 $ 2,247 $ 2,098 $ 2,098 $ 2,247 $ 2,060 Provision for unfunded commitments (9 ) 34 - 149 - 25 38 Balance, end of period $ 2,272 $ 2,281 $ 2,247 $ 2,247 $ 2,098 $ 2,272 $ 2,098 Total allowance for credit losses - loans and unfunded commitments $ 23,297 $ 21,905 $ 20,969 $ 20,926 $ 24,413 $ 23,297 $ 24,413 Provision for credit losses Provision for credit losses on loans $ 1,364 $ 891 $ - $ 630 $ - $ 2,255 $ 3,279 Provision for unfunded commitments (9 ) 34 - 149 - 25 38 Total provision for credit losses $ 1,355 $ 925 $ - $ 779 $ - $ 2,280 $ 3,317 Nonperforming Assets Loans accounted for on a non-accrual basis $ 2,748 $ 1,332 $ 1,340 $ 1,347 $ 3,621 $ 2,748 $ 3,621 Loans past due 90 days or more and still accruing - - - - - - - Nonperforming loans 2,748 1,332 1,340 1,347 3,621 2,748 3,621 Other real estate owned - - - - - - - Nonperforming assets $ 2,748 $ 1,332 $ 1,340 $ 1,347 $ 3,621 $ 2,748 $ 3,621 Nonperforming Loans by Type: Commercial $ 2,748 $ 1,332 $ 1,340 $ 1,347 $ 3,621 $ 2,748 $ 3,621 Total Nonperforming loans $ 2,748 $ 1,332 $ 1,340 $ 1,347 $ 3,621 $ 2,748 $ 3,621 Asset Quality Ratios Allowance for credit losses on loans to total loans 1.07 % 1.03 % 1.02 % 1.00 % 1.25 % 1.07 % 1.25 % Total allowance for credit losses-loans and unfunded commitments 1.19 % 1.15 % 1.14 % 1.12 % 1.37 % 1.19 % 1.37 % Allowance for credit losses on loans to nonperforming loans 765.10 % 1473.27 % 1397.16 % 1386.71 % 616.27 % 765.10 % 616.27 % Nonperforming assets to total assets 0.12 % 0.06 % 0.06 % 0.06 % 0.16 % 0.12 % 0.16 % Nonperforming loans to total loans 0.14 % 0.07 % 0.07 % 0.07 % 0.20 % 0.14 % 0.20 % Net charge-offs to average loans(1) -0.01 % 0.00 % -0.01 % 0.93 % 0.02 % -0.01 % 0.01 % Criticized loans to total loans 1.48 % 1.87 % 1.43 % 2.27 % 1.62 % 1.48 % 1.62 % Classified loans to total loans 0.44 % 0.38 % 0.20 % 0.22 % 0.51 % 0.44 % 0.51 % (1) Annualized for the periods presented. AVIDBANK HOLDINGS, INC. Loans and Deposits (Unaudited) (In thousands) Current Year Sept. 30, June 30, March 31, Dec. 31, Sept. 30, Quarter Over Year 2025 2025 2025 2024 2024 Change Change Loans Commercial and industrial loans $ 871,524 $ 855,049 $ 803,920 $ 816,963 $ 759,492 $ 16,475 $ 112,032 Commercial real estate Multi-family 249,802 241,399 227,003 216,018 199,929 8,403 49,873 Owner Occupied 176,171 168,393 142,764 142,650 141,139 7,778 35,032 Non-Owner Occupied 412,623 407,955 405,788 414,551 406,007 4,668 6,616 Construction and land 209,750 204,973 226,641 246,301 253,325 4,777 (43,575 ) Residential 36,399 31,560 32,985 27,494 25,799 4,839 10,600 Total real estate loans 1,084,745 1,054,280 1,035,181 1,047,014 1,026,199 30,465 58,546 Other loans 2,316 2,389 2,086 965 1,065 (73 ) 1,251 Total loans, net of deferred fees $ 1,958,585 $ 1,911,718 $ 1,841,187 $ 1,864,942 $ 1,786,756 $ 46,867 $ 171,829 Deposits Noninterest-bearing demand $ 471,770 $ 443,540 $ 419,823 $ 414,327 $ 405,528 $ 28,230 $ 66,242 Interest-bearing checking 1,069,344 1,087,621 965,467 993,219 1,026,898 (18,277 ) 42,446 Money market and savings 465,198 399,849 399,010 338,578 336,166 65,349 129,032 Time 42,846 46,770 58,273 74,468 75,033 (3,924 ) (32,187 ) Non-reciprocal brokered(1) - 25,001 86,915 70,763 57,903 (25,001 ) (57,903 ) Total deposits $ 2,049,158 $ 2,002,781 $ 1,929,488 $ 1,891,355 $ 1,901,528 $ 46,377 $ 147,630 Average Deposits Noninterest-bearing demand $ 482,849 $ 425,154 $ 405,746 $ 422,807 $ 408,626 $ 57,695 $ 74,223 Interest-bearing checking 1,074,064 1,038,372 956,994 994,121 903,542 35,692 170,522 Money market and savings 433,135 398,438 385,434 351,126 348,125 34,697 85,010 Time 43,897 47,398 60,282 77,203 75,972 (3,501 ) (32,075 ) Non-reciprocal brokered 10,283 62,853 77,537 49,064 69,670 (52,570 ) (59,387 ) Total deposits $ 2,044,228 $ 1,972,215 $ 1,885,993 $ 1,894,321 $ 1,805,935 $ 72,013 $ 238,293 (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 September 30, 2025, June 30, 2025, March 31, 2025, December 31, 2024, and September 30, 2024, an additional $522.5 million, $495.4 million, $447.8 million, $470.0 million and $509.3 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) (In thousands) Management believes that adjusted net income, adjusted diluted earnings per share, adjusted return on average assets, adjusted return on average equity, adjusted efficiency ratio, taxable equivalent net interest income and taxable equivalent net interest margin 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 and net interest margin adjustments facilitate 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 Nine Months Ended Sept. 30, June 30, March 31, Dec. 31, Sept. 30, Sept. 30, Sept. 30, 2025 2025 2025 2024 2024 2025 2024 Non-GAAP adjusted net income reconciliation Net income - GAAP $ (37,735 ) $ 5,797 $ 5,436 $ 6,457 $ 5,846 $ (26,502 ) $ 14,558 Loss on sale of securities 62,391 - - - - 62,391 - Tax impact of loss on sale of securities (17,949 ) - - - - (17,949 ) - Net income - adjusted (non-GAAP) $ 6,707 $ 5,797 $ 5,436 $ 6,457 $ 5,846 $ 17,940 $ 14,558 Non-GAAP adjusted diluted earnings per share reconciliation Diluted earnings per share - GAAP $ (4.12 ) $ 0.75 $ 0.71 $ 0.84 $ 0.77 $ (3.28 ) $ 1.92 Loss on sale of securities, net of income tax 4.84 - - - - 5.46 - Diluted earnings per share - adjusted (non-GAAP) $ 0.72 $ 0.75 $ 0.71 $ 0.84 $ 0.77 $ 2.18 $ 1.92 Non-GAAP adjusted return on average assets reconciliation Net income - GAAP $ (37,735 ) $ 5,797 $ 5,436 $ 6,457 $ 5,846 $ (26,502 ) $ 14,558 Average total assets 2,357,158 2,322,264 2,289,935 2,250,086 2,272,623 2,323,365 2,253,729 Return on average assets - GAAP(1) (6.35 )% 1.00 % 0.96 % 1.14 % 1.02 % (1.53 )% 0.86 % Net income - adjusted (non-GAAP) $ 6,707 $ 5,797 $ 5,436 $ 6,457 $ 5,846 $ 17,940 $ 14,558 Average total assets 2,357,158 2,322,264 2,289,935 2,250,086 2,272,623 2,323,365 2,253,729 Return on average assets - adjusted (non-GAAP)(1) 1.13 % 1.00 % 0.96 % 1.14 % 1.02 % 1.03 % 0.86 % Non-GAAP adjusted return on average equity reconciliation Net income - GAAP $ (37,735 ) $ 5,797 $ 5,436 $ 6,457 $ 5,846 $ (26,502 ) $ 14,558 Average total equity 236,903 200,608 191,891 188,170 179,260 209,965 171,043 Return on average equity - GAAP (1) (63.19 )% 11.59 % 11.49 % 13.65 % 12.97 % (16.88 )% 11.37 % Net income - adjusted (non-GAAP) $ 6,707 $ 5,797 $ 5,436 $ 6,457 $ 5,846 $ 17,940 $ 14,558 Average total equity 236,903 200,608 191,891 188,170 179,260 209,965 171,043 Return on average equity - adjusted (non-GAAP) (1) 11.23 % 11.59 % 11.49 % 13.65 % 12.97 % 11.42 % 11.37 % Non-GAAP adjusted efficiency ratio reconciliation Noninterest expense $ 13,479 $ 12,609 $ 12,842 $ 11,052 $ 12,097 $ 38,930 $ 36,280 Net interest income 22,650 20,290 19,352 19,199 18,613 62,292 56,023 Noninterest income (60,852 ) 1,538 1,171 1,840 1,790 (58,143 ) 4,170 Efficiency ratio - GAAP (35.28 )% 57.77 % 62.57 % 52.53 % 59.29 % 938.30 % 60.27 % Noninterest expense $ 13,479 $ 12,609 $ 12,842 $ 11,052 $ 12,097 $ 38,930 $ 36,280 Net interest income 22,650 20,290 19,352 19,199 18,613 62,292 56,023 Noninterest income (60,852 ) 1,538 1,171 1,840 1,790 (58,143 ) 4,170 Loss on sale of securities 62,391 - - - - 62,391 - Noninterest income - adjusted 1,539 1,538 1,171 1,840 1,790 4,248 4,170 Efficiency ratio - adjusted (non-GAAP) 55.72 % 57.77 % 62.57 % 52.53 % 59.29 % 58.51 % 60.27 % Non-GAAP taxable equivalent net interest income reconciliation Net interest income - GAAP $ 22,650 $ 20,290 $ 19,352 $ 19,199 $ 18,613 $ 62,292 $ 56,023 Taxable equivalent adjustment 8 8 8 7 6 24 17 Net interest income - taxable equivalent (non-GAAP) $ 22,658 $ 20,298 $ 19,360 $ 19,206 $ 18,619 $ 62,316 $ 56,040 Non-GAAP taxable equivalent net interest margin reconciliation Net interest margin - GAAP(1) 3.90 % 3.60 % 3.52 % 3.48 % 3.35 % 3.68 % 3.42 % Impact of taxable equivalent adjustment - - - 0.01 - - - Net interest margin - taxable equivalent (non-GAAP)(1) 3.90 % 3.60 % 3.52 % 3.49 % 3.35 % 3.68 % 3.42 % (1) Annualized for the periods presented. SOURCE: Avidbank Holdings, Inc. View the original press release on ACCESS Newswire Categories: Press Releases View all news