Avidbank Holdings, Inc. (NASDAQ: AVBH) reported a net income of $10.2 million for the third quarter of 2026, or $0.94 per diluted share. This compares to net income of $7.6 million, or $0.71 per diluted share, in the second quarter of 2026, and a net loss of $37.7 million, or $4.12 per diluted share, in the third quarter of 2025.
For the nine months ended September 30, 2026, net interest income increased $19.6 million, or 31%, compared to the same period in the prior year. Total assets stood at $2.97 billion as of September 30, 2026, an increase from $2.66 billion at the end of June 2026.
Key financial metrics for the quarter included:
- Return on average equity: 13.43% compared to 10.40% in the second quarter of 2026.
- Return on average assets: 1.42% compared to 1.20% in the second quarter of 2026.
- Net interest margin: 4.07%, down 19 basis points from the second quarter of 2026.
- Efficiency ratio: 49.80% compared to 55.41% in the second quarter of 2026.
- Book value per share: $27.24 at September 30, 2026.
Period-end loans, net of deferred fees, increased $58.4 million, or 10% annualized, from June 30, 2026. Average deposits increased $283.8 million, or 51% annualized, from the second quarter of 2026. The company redeemed $22.0 million of callable subordinated notes and closed on a $30.0 million private placement of new subordinated notes with a maturity date of September 1, 2036, and a fixed interest rate of 7.00% for the first five years.
Non-performing loans to total loans increased to 0.70% as of September 30, 2026, compared to 0.65% at June 30, 2026. The provision for credit losses was $1.2 million in the third quarter of 2026, compared to $2.8 million in the second quarter of 2026.
