AVBH Filings — Avidbank Holdings, Inc. - FilingSpy
AVBH
Avidbank Holdings, Inc.
A Bay Area commercial bank that lends to businesses through five divisions, including a Venture Lending arm that backs cash-burning tech startups and a national Specialty Finance group for sponsor-backed and asset-based lending. Founded in 2003 as The Private Bank of the Peninsula, it renamed itself Avidbank in 2011 — a nod to the word "avid," reflecting its broader ambitions beyond its original home turf — and moved its headquarters to San Jose in 2018. The company went public in 2025.
On August 26, 2026, Avidbank Holdings sold $30 million aggregate principal of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2036 to institutional investors at 100% of face value.
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Net proceeds will be used to redeem/repurchase its $22 million of outstanding 5.000% Fixed-to-Floating Subordinated Notes due 2029 and for general corporate purposes.
The notes mature September 1, 2036, pay 7.00% fixed interest until September 1, 2031, then float at three-month SOFR plus 291 basis points, and are redeemable at the Company's option on or after September 1, 2031.
On August 27, 2026, the Company repurchased and cancelled $18 million of the 2029 Notes for about $18.2 million and gave notice to redeem the remaining $4 million on September 30, 2026.
The notes are unsecured, subordinated obligations intended to qualify as Tier 2 capital; Piper Sandler & Co. acted as sole placement agent.
1.01 Entry into a Material Definitive Agreement · 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement · 7.01 Regulation FD Disclosure · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Avidbank appoints Jonathan M. Dale as President, effective August 3, 2026
Mark D. Mordell will continue as Chairman and CEO, relinquishing the President role.
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Jonathan M. Dale appointed President of Avidbank Holdings and Avidbank, effective August 3, 2026, reporting to CEO Mark D. Mordell.
Dale's compensation includes $625,000 annual base salary, bonus up to 100% of base, and $500,000 restricted stock award vesting in 3 years.
Dale previously served as EVP and Regional Executive for California at Umpqua Bank (now Columbia Bank) until July 2025.
Dale is entitled to severance of 50% of base salary plus 6x COBRA costs if terminated without cause.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 8.01 Other Events · 9.01 Financial Statements and Exhibits
Avidbank Holdings reports Q2 2026 net income of $7.6 million, or $0.71 per diluted share
Results included a $2.6 million litigation settlement expense and $1.3 million in BOLI death benefit income; adjusted net income was $8.2 million, or $0.76 per adjusted diluted share.
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Net income for Q2 2026 was $7.6 million, or $0.71 per diluted share, compared to $9.0 million ($0.84 per share) in Q1 2026 and $5.8 million ($0.75 per share) in Q2 2025.
Period-end loans increased $51.3 million (9% annualized) from March 31, 2026, and $312.4 million (16%) from June 30, 2025.
Net interest margin was 4.26% in Q2 2026, down from 4.38% in Q1 2026 but up from 3.60% in Q2 2025.
Book value per share was $26.97 at June 30, 2026, up $0.64 from March 31, 2026.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Avidbank Holdings shareholders elect 10 directors and ratify Crowe LLP as auditor at 2026 annual meeting.
All ten director nominees were elected, each receiving between 7,902,395 and 8,141,072 votes for, with broker non-votes of 571,308 for each.
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Avidbank Holdings held its 2026 Annual Meeting of Shareholders on May 19, 2026, with 8,713,597 shares present, constituting a quorum.
Shareholders ratified the appointment of Crowe LLP as independent registered public accounting firm for fiscal year ending December 31, 2026, with 8,693,714 votes for and 19,883 against.
The record date for the meeting was March 27, 2026, with 10,955,167 shares of common stock outstanding and entitled to vote.
No other matters were submitted for shareholder action at the meeting.
5.07 Submission of Matters to a Vote of Security Holders
Keith F. Jensen appointed to Avidbank Holdings and Avidbank boards effective March 9, 2026.
Jensen is considered an independent director and an audit committee financial expert under SEC and NASDAQ rules.
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Keith F. Jensen was appointed to the boards of Avidbank Holdings, Inc. and its subsidiary Avidbank, effective March 9, 2026.
He will serve on the Audit Committee and the Investment and Asset-Liability Committee of both boards.
Jensen will receive the same compensation as other board members; no related-party transactions or family relationships were reported.
His appointment fills existing vacancies, bringing each board to ten directors.
5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits
Avidbank Holdings reports Q4 2025 net income of $6.9 million, full-year net loss of $19.6 million.
Net interest margin expanded to 4.13% in Q4 2025, up from 3.90% in Q3 2025 and 3.49% in Q4 2024.
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Q4 2025 net income was $6.9 million ($0.65 per diluted share), versus a net loss of $37.7 million in Q3 2025 and net income of $6.5 million in Q4 2024.
Full-year 2025 net loss was $19.6 million ($2.25 per diluted share), including a $62.4 million loss on sale of available-for-sale securities; adjusted net income was $24.9 million ($2.80 per adjusted diluted share).
Period-end loans grew $189.9 million (38% annualized) from September 30, 2025; period-end deposits grew $136.9 million (27% annualized).
Non-performing assets to total assets rose to 0.95% at December 31, 2025, from 0.12% at September 30, 2025, due to downgrades of two construction loans and one commercial loan.
2.02 Results of Operations and Financial Condition · 7.01 Regulation FD Disclosure · 9.01 Financial Statements and Exhibits