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

About this update from Avidbank Holdings, Inc.

SAN JOSE, CA / ACCESS Newswire / 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 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 high...

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