Q1 2026 Avidbank Holdings Inc Earnings Call Transcript
Key Points
- Avidbank Holdings Inc (AVBH) reported a significant increase in net income for Q1 2026, reaching $9 million, up from $6.9 million in the previous quarter.
- The company achieved a notable improvement in return on assets and return on average equity, indicating enhanced profitability.
- Loan growth was strong, with a $24 million increase in the first quarter, driven by non-owner-occupied security loans.
- Deposits increased by $13 million in the first quarter, contributing to a 14% rise since March 2025.
- The net interest margin improved by 25 basis points from the previous quarter, reflecting better financial performance.
- There was a $2.8 million net charge-off in the quarter, primarily due to two C&I credit charge-offs.
- Non-interest income decreased to $1.5 million from $1.8 million in the previous quarter, affected by lower warrant and success fee income.
- Non-interest expenses rose to $14.1 million, driven by higher credit-related legal and professional fees.
- The provision for credit losses was $1.4 million, although it decreased from the previous quarter, it still represents a financial burden.
- There is upward pressure on the cost of interest-bearing deposits, which could impact future margins.
Good morning. My name is Tiffany, and I will be your conference operator today. At this time, I would like to welcome everyone to the Avid Bank Holdings, Inc. First Quarter 2026 Earnings Conference Call.
(operator instructions)
Thank you.
I'd like to introduce the presenters, Chairman and CEO Mark Mordell, Chief Financial Officer Pat Oakes.
And Chief Operating Officer Gina Thoma Peterson. You may begin your conference.
Good morning.
Thank you for joining us today for the Avid Bank's Holding first quarter 2026 earnings call. Before we begin, let me remind you that today's call is being recorded and is available in the Investor Relations section of our website at avidbank.com, along with our earnings release and presentation materials. Today's call contains forward-looking statements, which are subject to certain risks, uncertainties, and other factors that could cause actual results to differ materially from those discussed.
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