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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.

2022

July 20, 2022

Avidbank Holdings, Inc. Annouces Net Income for the Second Quarter of 2022

SAN JOSE, CA - Avidbank Holdings, Inc. (OTC Pink: AVBH) announced income for the second quarter of 2022 of $5.2 million, or $0.76 per diluted share, compared to $3.6 million, or $0.60 per diluted share, for the second quarter of 2021 and $4.3 million, or $0.71 per diluted share, for the first quarter of 2022. PDF - opens in new window.

May 11, 2022

Avidbank Holdings, Inc. Announces Successful Completion of $28.6 Million Private Offering

SAN JOSE, CA - Avidbank Holdings, Inc. (OTC Pink: AVBH), the parent company of Avidbank, today reported the successful completion of a $28.6 million private offering of common shares at a purchase price of $22.50 per share. PDF - opens in new window.

April 20, 2022

Avidbank Holdings, Inc. Announces Net Income for the First Quarter of 2022

SAN JOSE, CA - (Accesswire) - 4/20/22 - Avidbank Holdings, Inc. (OTC Pink: AVBH) announced income for the first quarter of 2022 of $4.3 million, or $0.71 per diluted share, compared to $2.5 million, or $0.42 per diluted share, for the first and fourth quarters of 2021. PDF - opens in new window.

March 4, 2022

Patrick Oakes Joins Avidbank as Chief Financial Officer

San Jose, CA - Avidbank Holdings, Inc. (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank, announced today the appointment of Patrick Oakes as Executive Vice President and Chief Financial Officer of the Bank and the Holding Company. PDF - opens in new window.

January 31, 2022

Avidbank Holdings, Inc. Announces Net Income of $12.3 Million for the Year Ended December 31, 2021

SAN JOSE, CA - Avidbank Holdings, Inc. (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $12.3 million for the year ended December 31, 2021 compared to $9.6 million, or a 28% increase for the year ended December 31, 2020. PDF - opens in new window.

2021

October 18, 2021

Avidbank Holdings, Inc. Announces Net Income of $3.6 Million for the Third Quarter of 2021

SAN JOSE, CA - Avidbank Holdings, Inc. (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $3.6 million for the third quarter of 2021 compared to $2.4 million for the same period in 2020. PDF - opens in new window.

July 22, 2021

Avidbank Holdings, Inc. Announces Net Income of $3.6 Million for the Second Quarter of 2021

SAN JOSE, CA - Avidbank Holdings, Inc. (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $3.6 million for the second quarter of 2021 compared to $2.1 million for the same period in 2020. PDF - opens in new window.

April 29, 2021

Avidbank Holdings, Inc. Announces Net Income of $2,507,000 for the First Quarter of 2021

SAN JOSE, CA - Avidbank Holdings, Inc. (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $2,507,000 for the first quarter of 2021 compared to $2,435,000 for the same period in 2020. PDF - opens in new window.

February 1, 2021

Avidbank Holdings, Inc. Announces Net Income of $2,764,000 for the Fourth Quarter of 2020

SAN JOSE, CA – Avidbank Holdings, Inc. (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $2,764,000 for the fourth quarter of 2020 compared to $3,049,000 for the same period in 2019. PDF - opens in new window.

2020

November 25, 2020

Avidbank Holdings, Inc. Announces Stock Repurchase Program

SAN JOSE, CA – Avidbank Holdings, Inc. (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced today that its Board of Directors has authorized a stock repurchase program that enables the Company to repurchase up to five percent (5%) or 307,780 shares of its outstanding common stock. PDF - opens in new window.

October 26, 2020

Avidbank Holdings, Inc. Announces Net Income of $2,359,000 for the Third Quarter of 2020

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 individuals primarily in Northern California, announced unaudited consolidated net income of $2,359,000 for the third quarter of 2020 compared to $3,452,000 for the same period in 2019. PDF - opens in new window.

July 23, 2020

Avidbank Holdings, Inc. Announces Net Income of $2,070,000 for the Second Quarter of 2020

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 individuals primarily in Northern California, announced unaudited consolidated net income of $2,070,000 for the second quarter of 2020 compared to $3,183,000 for the same period in 2019. PDF - opens in new window.

April 27, 2020

Avidbank Holdings, Inc. Announces Net Income of $2,435,000 for the First Quarter of 2020

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 individuals primarily in Northern California, announced unaudited consolidated net income of $2,435,000 for the first quarter of 2020 compared to $3,173,000 for the same period in 2019. PDF - opens in new window.

April 14, 2020

Diane Flynn Joins Avidbank Holdings, Inc. Board of Directors

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced today that Diane Flynn has joined the Board of Directors. PDF - opens in new window.

March 3, 2020

Avidbank Provides Falcon Critical Care Transport with $9 Million in Credit Facilities

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided Falcon Critical Care Transport with combined credit facilities of $9 million. PDF - opens in new window.

February 26, 2020

Avidbank Adds Strength to its Specialty Finance Division

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced today that two accomplished lending professionals have joined the Bank. PDF - opens in new window.

January 27, 2020

Avidbank Holdings, Inc. Announces Net Income of $3,049,000 for the Fourth Quarter of 2019

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $3,049,000 for the fourth quarter of 2019 compared to $3,481,000 for the same period in 2018. PDF - opens in new window.

January 13, 2020

Jeff Griffor Joins Avidbank as Senior Vice President to Expand Northeast Presence

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and parent company of Avidbank, announced today that it is further expanding its reach in the Northeast, adding Jeff Griffor to its powerhouse Venture Lending team. PDF - opens in new window.

2019

December 23, 2019

Avidbank Holdings, Inc. Announces Completion of $22 Million Private Placement of Subordinated Notes

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced today the completion of a private placement of $22 million in ten-year, fixed-to-floating rate subordinated notes due 2029 to certain qualified institutional buyers and institutional accredited investors. PDF - opens in new window.

December 12, 2019

KBRA Assigns Ratings to Avidbank Holdings, Inc.

New York - Kroll Bond Rating Agency (KBRA) assigns a senior unsecured debt rating of BBB, subordinated debt rating of BBB-, and short-term debt rating of K3 to San Jose, California based Avidbank Holdings Inc. PDF - opens in new window.

October 16, 2019

Avidbank Holdings, Inc. Announces Net Income of $3,452,000 for the Third Quarter of 2019

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $3,452,000 for the third quarter of 2019 compared to $2,865,000 for the same period in 2018. PDF - opens in new window.

September 3, 2019

Gina Thoma Peterson Joins Avidbank as Executive Vice President & Chief Operating Officer

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced today that Gina Thoma Peterson will join the Bank as Executive Vice President and Chief Operating Officer. PDF - opens in new window.

July 23, 2019

Avidbank Holdings, Inc. Announces Net Income of $3,183,000 for the Second Quarter of 2019

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and parent company of Avidbank, an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $3,183,000 for the second quarter of 2019 compared to $2,666,000 for the same period in 2018. PDF - opens in new window.

July 10, 2019

Avidbank Provides Envoy Group with $5.5 Million in Credit Facilities

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided Envoy Group with combined credit facilities of $5.5 million to provide working capital. PDF - opens in new window.

July 9, 2019

Avidbank Taps Veteran Technology Banker Mark Cameron To Lead Its Structured Finance Division

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced today that veteran technology banker and entrepreneur, Mark Cameron, has joined the Bank as Senior Vice President and Division Manager, Structured Finance Division. PDF - opens in new window.

April 23, 2019

Avidbank Holdings, Inc. Announces Net Income of $3,173,000 for the First Quarter of 2019

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 $3,173,000 for the first quarter of 2019 compared to $2,107,000 for the same period in 2018. PDF - opens in new window.

April 11, 2019

Avidbank Expands Its Venture Lending Division

San Jose, CA – Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced today that four venture lending professionals have joined the Bank. PDF - opens in new window.

April 9, 2019

Avidbank Hires 30-year Banking Veteran Joe Wilson

San Jose, CA – Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced today that veteran banking executive Joe Wilson has joined the Bank as Senior Vice President, Corporate Banking Division. PDF - opens in new window.

January 24, 2019

Avidbank Holdings, Inc. Announces Net Income of $3,481,000 for the Fourth 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 $3,481,000 for the fourth quarter of 2018 compared to $1,009,000 for the same period in 2017. PDF - opens in new window.

2018

December 19, 2018

Sam Bhaumik Joins Avidbank to Lead New Venture Lending Group

San Jose, CA - Avidbank Holdings, Inc., a bank holding company and the parent company of Avidbank, announced today that veteran finance executive Sam Bhaumik has joined the Bank as Executive Vice President, Venture Lending Group. PDF - opens in new window.

December 13, 2018

Avidbank Provides Calyx Capital Partners with Credit Facilities to Support Acquisition

San Jose, CA - Avidbank Specialty Finance, a Division of Avidbank that specializes in technology, sponsor finance and asset-based lending, has provided Calyx Capital Partners with a combination of credit facilities to support an acquisition and to provide working capital. PDF - opens in new window.

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.