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Avidbank Press Releases

Below you will find the latest in Avidbank news. Visit our News Archive for additional press releases dating back to the Bank’s initial capital campaign.

2018

December 3, 2018

Avidbank Promotes Geoff Butner to Executive Vice President and Chief Credit Officer

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced today that Geoff Butner has been promoted to Executive Vice President and Chief Credit Officer. PDF - opens in new window.

November 20, 2018

Avidbank Provides NTN Buzztime, Inc. with $4 Million Term Loan Refinance

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has refinanced a $4 million term loan for NTN Buzztime, Inc. to provide the company with a more flexible financing structure. PDF - opens in new window.

October 19, 2018

Avidbank Holdings, Inc. Announces Net Income of $2,865,000 for the Third Quarter of 2018

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $2,865,000 for the third quarter of 2018 compared to $1,660,000 for the same period in 2017. PDF - opens in new window.

July 24, 2018

Avidbank Holdings, Inc. Announces Net Income of $2,666,000 for the Second Quarter of 2018

San Jose, 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 $2,666,000 for the second quarter of 2018 compared to $1,430,000 for the same period in 2017. PDF - opens in new window.

April 25, 2018

Avidbank Holdings, Inc. Announces Net Income of $2,107,000 for the First Quarter of 2018

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced unaudited consolidated net income of $2,107,000 for the first quarter of 2018 compared to $1,554,000 for the same period in 2017. PDF - opens in new window.

April 5, 2018

Avidbank Provides 3Q Digital with $10 Million in Funding for Buyback and Growth

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided 3Q Digital a $10 million asset-based line of credit to facilitate a buyback from parent company and provide working capital to support growth. PDF - opens in new window.

April 3, 2018

Avidbank Provides School of Rock, Inc. with Credit Facilities to Support U.S. and Global Growth

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided School of Rock, Inc. a line of credit and term loan to help bolster the company's plans for growth. PDF - opens in new window.

March 16, 2018

Avidbank Provides America's Thrift Stores Credit Facilities to Support Refinancing and Growth

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided $6.4 million in credit facilities to America's Thrift Stores. PDF - opens in new window.

March 8, 2018

Avidbank Provides $5 Million Credit Facilities To Art Brand Studios

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided a combined $5 million in a line of credit and term loan to Art Brand Studios. PDF - opens in new window.

February 16, 2018

Avidbank Provides Red Monkey Foods Expanded Credit Facilities to Support SF Salt Acquisition

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided an acquisition term loan and a working capital line of credit to Red Monkey Foods. PDF - opens in new window.

February 13, 2018

Avidbank Provides $7.5 Million Credit Facilities to Zumasys, Inc.

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided $7.5 million in credit facilities to Zumasys, Inc. PDF - opens in new window.

February 1, 2018

Avidbank Provides $8.3 Million Credit Facilities to LightPath Technologies

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology and asset-based lending, has provided $8.3 million in credit facilities to LightPath Technologies, Inc., including a $7.3 million asset-based term loan and renewal of a $1 million asset-based line of credit. PDF - opens in new window.

January 25, 2018

Avidbank Holdings, Inc. Announces Net Income of $1,009,000 for the Fourth Quarter of 2017 and $5,654,000 for the Year Ended 2017

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced unaudited consolidated net income of $1,009,000 for the fourth quarter of 2017 compared to $1,122,000 for the same period in 2016. PDF - opens in new window.

2017

November 14, 2017

Avidbank Holdings, Inc. Announces the Opening of New San Jose Headquarters and Palo Alto Retail Branch

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, announces the opening of its new San Jose Headquarters office and Palo Alto retail branch. PDF - opens in new window.

October 19, 2017

Avidbank Holdings, Inc. Announces Net Income of $1,660,000 for the Third Quarter of 2017

Palo Alto, CA - Avidbank Holdings, Inc., a bank holding company and parent company of Avidbank, an independent full-service commercial bank serving businesses and consumers in Northern California, announced unaudited consolidated net income of $1,660,000 for the third quarter of 2017 compared to $1,635,000 for the same period in 2016. PDF - opens in new window.

July 21, 2017

Avidbank Holdings, Inc. Announces Net Income of $1,430,000 for the Second Quarter of 2017

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 $1,430,000 for the second quarter of 2017 compared to $3,299,000 for the same period in 2016. PDF - opens in new window.

July 18, 2017

Marc Verissimo Joins Avidbank Holdings, Inc. Board of Directors

Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, announced today that Marc Verissimo has joined the Board of Directors. PDF - opens in new window.

July 13, 2017

Avidbank Holdings, Inc. Announces Successful Completion of $20 Million Private Offering

Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, today reported the successful completion of a $20 million private offering of common shares at a purchase price of $19.00 per share. PDF - opens in new window.

July 11, 2017

Avidbank Announces An Na Tran Joins the Bank as Senior Vice President, Private Banking

Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, announced today that An Na Tran has joined the Bank as Senior Vice President, Private Banking and will be based in its San Francisco production office. PDF - opens in new window.

April 24, 2017

Avidbank Holdings, Inc. Announces Net Income of $1,554,000 for the First Quarter of 2017

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 $1,554,000 for 2017, a 29% increase compared to $1,207,000 for 2016. PDF - opens in new window.

March 16, 2017

Avidbank Announces Fergal O'Boyle Promoted to Executive Vice President, Construction Lending

Palo Alto, CA - Avidbank Holdings, Inc., parent company of Avidbank, announced today that Fergal O'Boyle has been promoted to Executive Vice President of the Bank's Real Estate Construction Lending Division. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.

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. PDF - opens in new window.