Avidia Bancorp Reports Q2 GAAP EPS of $0.39

Avidia Bancorp (AVBC) posted second-quarter GAAP earnings of $0.39 per share on revenue of $29.86 million, the lender said Tuesday.

The company recorded a provision for credit losses of $1.1 million in the quarter, down from $1.6 million a year earlier. Net charge-offs came in at $1.1 million, compared with $1.2 million in the same period of 2025. Nonperforming loans as a share of total loans fell to 0.38% from 0.47%.

Loan growth was modest. Total loans outstanding rose to $3.26 billion at quarter-end from $3.22 billion three months earlier. The loan portfolio's weighted-average yield widened to 5.72% from 5.63% in the first quarter, a reflection of the bank's repricing of its variable-rate book.

Deposits totaled $3.41 billion, up $22 million from March. The cost of deposits edged up to 2.54% from 2.47%, as competition for funding in Avidia's Massachusetts market remained steady.

The net interest margin – the difference between what the bank earns on loans and pays on deposits – compressed to 3.44% from 3.49% in Q1. The bank attributed the squeeze to a shift in deposit mix toward higher-cost time deposits.

Avidia's board declared a quarterly dividend of $0.17 per share, payable Aug. 15 to holders of record Aug. 1. That matches the prior quarter's payout.

Shares of Avidia Bancorp have traded in a range of $26.00 to $30.50 over the past 12 months.