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Avidia Bancorp (NYSE:AVBC) reported its Q2 2025 financial results following its successful mutual-to-stock conversion and IPO completion on July 31, 2025. The bank posted a net income of $3.9 million, a significant improvement from Q1's $11.6 million loss.
Key metrics include net interest income of $20.6 million (up $1.4M QoQ), improved net interest margin of 3.19% (up 15bps), and reduced deposit costs to 1.36% (down 14bps). The balance sheet strengthened with gross loans of $2.25 billion and deposits of $2.44 billion. The efficiency ratio improved to 76.4% from 95.2% in Q1, while asset quality remained stable with non-accrual loans at 0.50%.
Avidia Bancorp, Inc. (NYSE:AVBC) has successfully completed its Initial Public Offering (IPO) as part of its mutual-to-stock conversion. The company sold 19,176,250 shares at $10.00 per share, raising approximately $191.8 million in gross proceeds.
The offering included 1,606,100 shares sold to the Employee Stock Ownership Plan (ESOP) and a contribution of 900,000 shares to the Avidia Bank Charitable Foundation. The company now has 20,076,250 shares outstanding. Trading on the NYSE under symbol AVBC is expected to begin on August 1, 2025.
The subscription offering was oversubscribed by eligible first-tier depositors, with all valid orders from this group and the ESOP being filled completely.
Avidia Bancorp (NYSE:AVBC) has announced the closing date for its Initial Public Offering (IPO) as part of its mutual-to-stock conversion. The company will list on the NYSE on August 1, 2025, offering 19,176,250 shares at $10.00 per share, including 1,606,100 shares for its Employee Stock Ownership Plan.
The subscription offering was oversubscribed by eligible depositors, with first-tier depositors and ESOP orders being filled according to allocation procedures. The company will also contribute 900,000 shares to the Avidia Bank Charitable Foundation, bringing the total outstanding shares to 20,076,250 upon completion.
Avidia Bancorp (NYSE:AVBC) has announced the results of its subscription offering related to the mutual-to-stock conversion of Assabet Valley Bancorp. The offering, which closed on June 17, 2025, was oversubscribed in the first tier by eligible depositors of Avidia Bank as of December 31, 2023.
The subscription orders exceeded the adjusted maximum offering range of $191,762,500. Due to oversubscription, orders will be allocated according to the procedures outlined in the Company's May 13, 2025 Prospectus. The company will begin trading on the New York Stock Exchange under the symbol "AVBC" once final regulatory approvals are received.
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