Avidbank Holdings, Inc. Announces Net Income for the First Quarter of 2025

About this update from Avidbank Holdings, Inc.

[{"type":"text","content":"SAN JOSE, CA / ACCESS Newswire / April 22, 2025 / Avidbank Holdings, Inc. (OTC PINK:AVBH) announced net income for the first quarter of 2025 of $5.4 million, or $0.71 per diluted share, compared to $6.5 million, or $0.84 per diluted share, for the fourth quarter of 2024 and $5.2 million, or $0.69 per diluted share, for the first quarter of 2024.","length":347,"tagName":"p"},{"type":"text","content":"First Quarter 2025 Highlights","length":29,"tagName":"p"},{"type":"list","items":[{"val":[{"type":"text","content":"Book value per share was $24.85, an increase of $1.28, or 22% annualized, from December 31, 2024, and an increase of $3.44, or 16% from March 31, 2024.","length":151,"tagName":"p"}]},{"val":[{"type":"text","content":"Taxable equivalent net interest margin(1) expanded to 3.52% in the first quarter of 2025, compared to 3.49% in the fourth quarter of 2024.","length":138,"tagName":"p"}]},{"val":[{"type":"text","content":"Period end deposits increased $38.1 million, or 8% annualized, from December 31, 2024, and $171.6 million, or 10%, from March 31, 2024.","length":135,"tagName":"p"}]},{"val":[{"type":"text","content":"Loans decreased $23.8 million, or 5% annualized, from December 31, 2024, and increased $58.2 million, or 3%, from March 31, 2024.","length":129,"tagName":"p"}]},{"val":[{"type":"text","content":"Annualized net charge-offs to average loans totaled -0.01% for the first quarter of 2025 compared to 0.93% for the fourth quarter of 2024. Nonperforming assets to total assets totaled 0.06% as of March 31, 2025 and December 31, 2024.","length":233,"tagName":"p"}]}],"tagName":"ul","bulletedList":true,"length":786,"olType":false},{"type":"text","content":""We are pleased with a solid start to 2025, which highlights our continued focus of strengthening our balance sheet and improving our performance metrics. Our first quarter results include deposit growth of $38 million, an expanding net interest margin, and we believe excellent overall credit quality. The net interest margin expanded to 3.52% in the first quarter as we have continued to decrease deposit costs. Credit quality continued to be strong, with no charge-offs in the first quarter and nonperforming assets totaling only 6 basis points of total loans," said Mark D. Mordell, Chairman and Chief Executive Officer.","length":634,"tagName":"p"},{"type":"text"...

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