Latest News

Here you’ll find all the latest news about Avidbank. Visit our News Archive for additional press releases
dating back to the Bank’s initial capital campaign.
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  2017
February 15, 2017 Avidbank Provides $8 Million Line of Credit to Yes To, Inc.
Palo Alto, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided an $8 million asset-based line of credit to Yes To, Inc.
February 13, 2017 Avidbank Provides Credit Facilities to Red Monkey Foods
Palo Alto, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided financing to support the acquisition of Red Monkey Foods by private equity firm, San Francisco Equity Partners.
January 31, 2017 Avidbank Holdings, Inc. Announces Net Income of $7,263,000 for the Year Ended 2016
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $7,263,000 for 2016 compared to $3,681,000 for 2015.
January 30, 2017 Avidbank Provides $14 Million Acquisition Term Loan to Auxilio
Palo Alto, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided Auxilio with $14 million in acquisition financing and has renewed an existing line of credit.
January 23, 2017 Rob Scott joins Avidbank Holdings, Inc. Board of Directors
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, announced today that Rob Scott has joined the Board of Directors.
January 5, 2017 Avidbank Expands LightPath Technologies Credit Facilities With a $5 Million Acquisition Term Loan
Palo Alto, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided LightPath Technologies with a new $5 million acquisition term loan in addition to renewing an existing line of credit.
  2016
December 15, 2016 Geoff Butner joins Avidbank as Senior Vice President & Deputy Chief Credit Officer
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, announced today that Geoff Butner has joined the Bank as Senior Vice President & Deputy Chief Credit Officer.
October 21, 2016 Avidbank Holdings, Inc. Announces Net Income of $1,635,000 for the Third Quarter of 2016
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $1,635,000 for the third quarter of 2016 compared to $1,269,000 for the same period in 2015.
August 16, 2016 Darryl Karmen joins Avidbank as Senior Vice President & Regional Manager
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, announced today that Darryl Karmen has joined the Bank as Senior Vice President & Regional Manager, Corporate Finance Division.
July 27, 2016 Avidbank Holdings, Inc. Announces Net Income of $3,299,000 for the Second Quarter of 2016
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $3,299,000 for the second quarter of 2016 compared to $394,000 for the same period in 2015.
April 26, 2016 Avidbank Holdings, Inc. Announces Net Income of $1,207,000 for the First Quarter of 2016
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $1,207,000 for the first quarter of 2016 compared to $374,000 for the same period in 2015.
April 13, 2016 Joan Secoquian joins Avidbank as Senior Vice President, Relationship Manager, Corporate Banking
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, announced today that Joan Secoquian has joined the Bank as Senior Vice President, Relationship Manager in the Corporate Banking Division.
March 2, 2016 Bob Foley joins Avidbank as Senior Vice President & Northeast Regional Manager
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, announced today that Bob Foley has joined the Bank as Senior Vice President & Northeast Regional Manager.
February 10, 2016 Avidbank Holdings, Inc. Announces 34% Increase in Net Income to $3,681,000 in 2015
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $3,681,000 for 2015 compared to $2,744,000 in 2014.
 
2015
November 18, 2015 Avidbank Holdings, Inc. Announces Completion of $12 Million Private Placement of Subordinated Notes
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced today the completion on November 12, 2015 of a private placement of $12 million in ten-year, fixed-to-floating rate subordinated note to certain qualified institutional accredited investors.
October 15, 2015 Avidbank Holdings, Inc. Announces Net Income of $1,269,000 for the Third Quarter of 2015
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $1,269,000 for the third quarter of 2015 compared to $646,000 for the same period in 2014.
July 31, 2015 Avidbank Holdings, Inc. Announces Operating Results for the Second Quarter of 2015
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $394,000 for the second quarter of 2015 compared to $696,000 for the same period in 2014.
July 1, 2015 Avidbank Announces Fergal O'Boyle to Lead Construction Lending
Palo Alto, CA - Avidbank is pleased to announce that Fergal O'Boyle, Senior Vice President, has been given the additional responsibility of Construction Lending Manager.
May 5, 2015 Avidbank Holdings, Inc. Announces Unaudited Net Income of $374,000 for the First Quarter of 2015
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $374,000 for the first quarter of 2015 compared to $408,000 for the same period in 2014.
April 14, 2015 Avidbank Corporate Finance provides Credit Facilities to Japonesque LLC
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided financing to support the acquisition of Japonesque LLC, located in San Ramon, California by Private Equity firm, San Francisco Equity Partners.
February 26, 2015 Avidbank Holdings, Inc. Announces Unaudited Net Income of $996,000 for the Fourth Quarter of 2014
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $996,000 for the fourth quarter of 2014 compared to $635,000 for the same period in 2013.
 
2014
October 30, 2014 Avidbank Holdings, Inc. Announces Net Income of $646,000 for the Third Quarter of 2014
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $646,000 for the third quarter of 2014 compared to $436,000 for the same period in 2013.
September 16, 2014 Michael F. Rosinus Joins Avidbank Holdings, Inc. Board of Directors
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, today announced that Michael F. Rosinus has joined the Board of Directors.
August 5, 2014 Avidbank Provides New Growth Capital to 4INFO, Expanding its Credit Facilities to $6,500,000
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based lending, has expanded its credit facilities to 4INFO.
July 29, 2014 Avidbank Holdings, Inc. Announces Net Income of $696,000 for the Second Quarter of 2014
Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced net income of $696,000 for the second quarter of 2014 compared to $922,000 for the same period in 2013.
July 17, 2014 Avidbank Corporate Finance provides $10 million Line of Credit to Panasas, Inc.
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided Panasas, Inc. a $10,000,000 working capital line of credit.
May 6, 2014 Avidbank Holdings, Inc. Announces Unaudited Net Income of $408,000 for the First Quarter of 2014
Palo Alto, CA - Avidbank Holdings, Inc., sole owner of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited net income of $408,000 for the first quarter of 2014 compared to $514,000 for the same period in 2013.
April 2, 2014 Avidbank Holdings, Inc. Announces Record Levels of Loans, Deposits and Total Assets for the year ended December 31, 2013
Palo Alto, CA - Avidbank Holdings, Inc., sole owner of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced that record levels of loans, deposits and total assets were achieved in 2013.
March 25, 2014 Chris Greene joins Avidbank as Senior Vice President
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, announced today that Chris Greene has joined the Bank as Senior Vice President, Corporate Banking Division.
February 27, 2014 Avidbank Corporate Finance Provides $1,500,000 in Senior Debt Facilities to November Research Group
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided November Research Group, LLC, $1,500,000 in various senior debt facilities.
January 30, 2014 Avidbank Expands San Jose Loan Production Office
Palo Alto, CA - Avidbank announced that is has recently expanded its loan production office in San Jose.
 
2013
December 10, 2013 Avidbank Corporate Finance provides a $2,000,000 Term Loan to True Drinks, Inc.
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided True Drinks, Inc. a $2,000,000 term loan.
November 1, 2013 Avidbank Holdings, Inc. Announces Record Total Assets for the Third Quarter of 2013
Palo Alto, CA - Avidbank Holdings, Inc., sole owner of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern Califiornia, announced total assets of $483 million at the end of the third quarter of 2013.
October 16, 2013 Avidbank Corporate Finance provides $5,000,000 In Credit Facilities to ICU Eyewear, Inc.
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided $5,000,000 of financing to ICU Eyewear, Inc. of Berkeley, CA.
October 8, 2013 Avidbank Corporate Finance provides $2,000,000 in Credit Facilities to LightPath Technologies, Inc.
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided LightPath Technologies, Inc. a $2,000,000 line of credit facility.
September 5, 2013 Avidbank Announces Strategic Management Changes
Palo Alto, CA - Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced today that its President and Board Member, Kenneth D. Brenner, has assumed a new position as Head of Strategic Relationships and will continue to serve on the Board.
August 6, 2013 Avidbank Corporate Finance provides $1,750,000 Working Capital Line of Credit to Akademos
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank that specializes in technology and asset-based funding, has provided Akademos a $1,750,000 working capital line of credit.
August 1, 2013 Avidbank Holdings, Inc. Completes Redemption of $6 million in Preferred Stock Issued Under TARP CPP Program
Palo Alto, CA - Avidbank Holdings, Inc., sole owner of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, today announced that it has completed the redemption of all outstanding shares of its non-cumulative perpetual preferred stock previously held by the U.S. Treasury under its TARP CPP.
July 24, 2013 Avidbank Holdings, Inc. Announces Net Income of $923,000 for the Second Quarter of 2013
Palo Alto, CA - Avidbank Holdings, Inc., sole owner of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced net income of $923,000 for the second quarter of 2013 compared to $653,000 during the same period in 2012.
July 10, 2013 Avidbank Corporate Finance provides Financing Facility to Passkey International, Inc.
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank, has provided a financing facility to Passkey International, Inc., ("Passkey") of Waltham, MA.
June 26, 2013 Avidbank Holdings, Inc. Announces Successful Completion of $16.0 Million Private Offering
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, today reported the successful completion of a $16.0 million private offering of common shares.
June 10, 2013 Larry LaCroix joins Avidbank as Executive Vice President, Corporate Finance
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, today announced the Larry LaCroix has joined the Bank as Executive Vice President, Corporate Finance.
April 25, 2013 Avidbank Holdings, Inc. Announces Net Income of $514,000 for First Quarter of 2013
Palo Alto, CA - Avidbank Holdings, Inc., sole owner of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited net income of $514,000 for the first quarter of 2013, compared to $771,000 during the same period in 2012.
April 12, 2013 Letter to Shareholders and Clients
This letter serves as announcement of our upcoming Avidbank Holdings, Inc., 2013 Annual Shareholders' meeting as well as provides an update on our Bank's progress after a record-setting year in 2012.
March 12, 2013 Avidbank Holdings, Inc. Announces Pre-Tax Income of $4.8 Million for 2012, an Increase of 47% Over 2011
Palo Alto, CA - Avidbank Holdings, Inc. (OTCBB: AVBH), the holding company for Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced its financial results for the year ended December 31, 2012.
January 9, 2013 Joe Maleti joins Avidbank as Senior Vice President
Palo Alto - Avidbank Holdings, Inc., parent company of Avidbank, today announced that Joe Maleti has joined the Bank as Senior Vice President to lead its Commercial Real Estate Lending.
 
2012
November 15, 2012 Avidbank introduces Mobile Apps
Avidbank now offers mobile apps for the iPhone and Android.
October 25, 2012 Avidbank names Ronald E. Oliveira Executive Vice President & Chief Credit Officer
Palo Alto, CA - Avidbank announced today that Ronald E. Oliveira has been named its new Executive Vice President and Chief Credit Officer.
October 23, 2012 Avidbank Holdings, Inc. Releases Third Quarter Results
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, today announced its unaudited results for the third quarter of 2012.
October 16, 2012 Avidbank Corporate Finance provides $5 million Line of Credit to 4INFO
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank, has provided a $5 million line of credit to 4INFO.
October 2, 2012 Avidbank opens Redwood City Loan Production Office
Palo Alto, CA - Avidbank announces that it has opened a new loan production office in downtown Redwood City.
September 21, 2012 Sarah Wesner joins Avidbank as Vice President, Corporate Banking Division
Palo Alto, CA - Avidbank announced today that Sarah Wesner has joined the Bank as Vice President within the Corporate Banking Division.
September 18, 2012 Avidbank Corporate Finance provides $3.5 million Term Loan to Horoscope.com Inc.
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank, has provided Horoscope.com Inc. with a $3.5 million term loan.
August 14, 2012 Avidbank Corporate Finance provides $1.5 million Term Loan to YogaWorks
Palo Alto, CA - Avidbank Corporate Finance, a Division of Avidbank, has provided YogaWorks with a $1.5 million term loan.
July 24, 2012 Avidbank Holdings, Inc. Releases Second Quarter Results
Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, today announced its unaudited results for the second quarter of 2012.
July 12, 2012 Avidbank Corporate Finance provides $3 million Asset-Based Line of Credit to USA Technologies
Palo Alto, CA – Avidbank Corporate Finance, a division of Avidbank, has provided USA Technologies, Inc. a $3 million asset-based line of credit.
June 15, 2012 Avidbank’s San Jose Loan Production Office Opens June 18, 2012
Palo Alto, CA – Avidbank announced today that its new loan production office in downtown San Jose will open for business Monday, June 18, 2012.
May 15, 2012 Avidbank Corporate Finance Provides $2 Million Line of Credit to AUXILIO, Inc.
Palo Alto, CA – Avidbank Corporate Finance, a division of Avidbank, has provided AUXILIO Inc. a $2 million line of credit for working capital purposes to support its growth in the U.S. health care industry.
April 26, 2012 Dori Hamilton Joins Avidbank as Executive Vice President
Palo Alto, CA – Avidbank Holdings, Inc., parent company of Avidbank, today announced that Dori Hamilton has joined the Bank as Executive Vice President to lead its Corporate Banking Division.
April 25, 2012 Avidbank Holdings, Inc. Releases First Quarter Results
Palo Alto, CA – Avidbank Holdings, Inc., parent company of Avidbank, today announced its unaudited results for the first quarter of 2012.
April 23, 2012 Daniel P. Vetras Joins Avidbank Holdings, Inc. Board of Directors
Palo Alto, CA – Avidbank announced today that Daniel P. Vetras has joined the Board of Directors of Avidbank and Avidbank Holdings, Inc
March 1, 2012 Mark D. Mordell Named Avidbank CEO
Palo Alto, CA – Avidbank announced today that Mark D. Mordell, Chairman of the Board of Directors, will take on the additional role of Chief Executive Officer.
February 28, 2012 Avidbank Holdings, Inc. Releases Fourth Quarter and Annual Results
Palo Alto, CA – Avidbank Holdings, Inc., the parent company of Avidbank, today announced its unaudited results for the fourth quarter of 2011.