Avidia Bancorp Reports $907,000 Net Loss in Q3 2025, Total Assets Increase to $2.79 Billion

Avidia Bancorp, Inc. reported a net loss of $907,000 for the third quarter of 2025, translating to a loss of $0.05 per share, a significant decline from the net income of $2.1 million, or $0.11 per share, recorded in the same period last year. For the nine months ending September 30, 2025, the company experienced a net loss of $8.6 million compared to a net income of $8.0 million for the same period in 2024. The decline in profitability was primarily attributed to a $10 million increase in non-interest expenses, which included a one-time donation of 900,000 shares valued at $9 million to the Avidia Bank Charitable Foundation, as well as a $17.8 million increase in credit loss expenses.

Total assets for Avidia Bancorp increased by $130.5 million, or 4.9%, to $2.79 billion as of September 30, 2025, compared to $2.66 billion at the end of 2024. This growth was driven by a substantial increase in cash and cash equivalents, which rose by $49.4 million, or 79.1%, to $111.9 million, largely due to proceeds from the company's initial public offering (IPO) completed on July 31, 2025. Net loans also saw an increase of $74 million, or 3.4%, reaching $2.25 billion, with notable growth in commercial real estate and multi-family loans.

In terms of operational metrics, Avidia Bancorp's total deposits increased slightly by $12.7 million, or 0.6%, to $2.08 billion. Core deposits, which exclude certificates of deposit, rose by $69.7 million, or 4.2%, indicating a positive trend in customer retention and deposit growth. The company’s Federal Home Loan Bank advances decreased by $65 million, or 20%, reflecting a repayment strategy that aligns with its liquidity management.

Strategically, Avidia Bancorp has focused on diversifying its loan portfolio to enhance net margins and manage interest rate risk. The company has also implemented an Employee Stock Ownership Plan (ESOP) as part of its IPO, which has contributed to its employee engagement and retention strategies. Looking ahead, Avidia Bancorp anticipates that its liquidity position will remain strong, supported by the capital raised during the IPO and its ongoing commitment to managing interest rate risk effectively. The company is well-capitalized, exceeding all regulatory capital requirements, and is positioned to navigate potential economic challenges in the future.