Avidia Bancorp reported second quarter 2026 net income of $7.17 million, or $0.39 per share, up from $5.996 million ($0.32 per share) in Q1 2026. Total net revenue for the quarter rose to $29.9 million and the company increased its quarterly cash dividend 20% to $0.06 per share, payable around August 27, 2026. The bank cited improved fee income, efficiency gains and a 1.04% return on assets for the quarter.

Financial Highlights

  • Net income: $7.17 million for Q2 2026 (Q1 2026: $5.996 million).
  • Earnings per share, diluted: $0.39 for Q2 2026 (Q1 2026: $0.32).
  • Total net revenue: $29.87 million in Q2 2026 (Q1 2026: $28.27 million).
  • Total net interest income: $23.964 million in Q2 2026 (unchanged from prior quarter); net interest margin: 3.64% (up 3 bps).
  • Total non-interest income: $5.902 million in Q2 2026 (Q1 2026: $4.286 million); total non-interest expense: $19.501 million (Q1 2026: $18.992 million).

Business Highlights

  • Dividend increase: Board raised quarterly cash dividend 20% to $0.06 per share, record date August 18, 2026, payable on or about August 27, 2026.
  • Fee-income growth: Sequential increases in customer service fees (notably HSA fees) and payment processing income, including one-time contract termination fees contributing to higher payment volumes.
  • Balance sheet positioning: Invested excess short-term cash into longer-term securities and reduced Federal Home Loan Bank advances by $45 million to $160 million.
  • Efficiency and operations: Efficiency ratio improved to 65.3% from 67.2% quarter-over-quarter, driven by process improvement strategies; professional fees rose due to loan workout and efficiency consulting.
  • Credit and asset quality: Allowance for credit losses increased to $23.926 million (1.06% of loans); recorded net recoveries of $420 thousand and non-accruing loans rose to $16.9 million (0.75% of total loans).

Original SEC Filing:

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