olivLaw · US equity research
Avidbank Holdings, Inc. AVBH
State Commercial Banks · SIC 6022 · Vertical: State Commercial Banks (SIC 6022)
Avidbank Holdings is the parent of Avidbank, a San Jose California commercial bank focused on lending to small and mid-sized businesses, technology companies and venture-backed firms with a national reach through its Venture Lending division. The company listed in August 2025 and reports, for the third quarter of 2026, a return to profit after the 2025 loss, supported by deposit growth and a net interest margin of 4.07%.
At the close of 04 Nov 2026, Avidbank Holdings, Inc. (AVBH) stock was 34.92 USD (+0.81% on the day), with market capitalisation 383.5 m USD, beta 0.36, 52-week range 24.37–34.95 USD. Latest reported quarter (Q2 2026): net income of 7.6 m USD (+31.9% YoY), diluted EPS 0.71 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 77.7
- overbought (≥ 70)
- Bollinger (20, 2)
- 29.12 – 35.27
- in the upper half of the band · %B 0.94 · band width 19.1%
- SMA 50 / 200
- 31.75 / 30.73
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.88 / 0.49
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | +11.4% | −1.1% | +12.5 pp | — |
| 3 months | +6.8% | −0.5% | +7.2 pp | — |
| 6 months | +17.3% | +4.4% | +12.9 pp | — |
| Year to date | +31.5% | +12.3% | +19.2 pp | — |
| 1 year | +34.1% | +13.5% | +20.6 pp | +23.6% |
| 3 years | +67.6% | +76.4% | −8.8 pp | +74.0% |
| 5 years | +45.5% | +63.7% | −18.2 pp | — |
Price returns, dividends excluded.
Quarterly results
Latest quarter: Q2 2026 · 30 Jun 2026
Quarterly margins
Quarterly statements · USD
| Fiscal year | Q3 '24 | Q4 '24 | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 |
|---|---|---|---|---|---|---|---|---|
| Revenue | 1.8 m | — | 46.0 k | 1.5 m | -60.9 m | — | 101.0 k | — |
| Depreciation & amortisation | 423.0 k ≈ | 395.0 k | 379.0 k | 381.0 k ≈ | 293.0 k ≈ | 80.0 k | 31.0 k | -3.0 k ≈ |
| Pre-tax income | 8.3 m | 9.2 m | 7.7 m | 8.3 m | -53.0 m | 10.1 m | 12.4 m | 10.5 m |
| Income tax | 2.5 m | 2.8 m | 2.2 m | 2.5 m | -15.3 m | 3.1 m | 3.4 m | 2.8 m |
| Net income | 5.8 m | 6.5 m | 5.4 m | 5.8 m | -37.7 m | 6.9 m | 9.0 m | 7.6 m |
| Diluted EPS | 0.77 | 0.84 ≈ | 0.71 | 0.75 | -4.12 | 0.66 ≈ | 0.84 | 0.71 |
| Operating cash flow | 5.6 m ≈ | 7.1 m | 4.3 m | 6.4 m ≈ | 12.4 m ≈ | 16.0 m | 8.2 m | 15.9 m ≈ |
| Capex | -13.0 k ≈ | 23.0 k | 23.0 k | 35.0 k ≈ | 35.0 k ≈ | 0 | 9.0 k | 0 ≈ |
| Share repurchases | — | — | 0 | 0 ≈ | — | — | 693.0 k | 0 ≈ |
≈ derived quarter (cumulative difference / share-days average)
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 |
|---|---|---|
| Revenue | unavailable | unavailable |
| Revenue YoY | unavailable | unavailable |
| Net income | 21.0 m | -19.6 m |
| Net income YoY | unavailable | −193.0% |
| Diluted EPS | 2.76 | -2.25 |
| Diluted EPS YoY | unavailable | −181.5% |
| net % | unavailable | unavailable |
| Free cash flow | 22.6 m | 38.9 m |
Reported results vs expectations
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Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 154.6 m USD
- Financial debt
- 60.0 m USD
- Net debt
- -94.6 m USD
- Equity
- 281.0 m USD
- Total assets
- 2.6 bn USD
- Debt / equity
- 0.21x
- Current ratio
- unavailable
- ROE
- -8.4%
- ROA
- -0.8%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Income statement · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Net interest income | 75.2 m | 87.3 m | SEC (XBRL)· 18 Mar 2026verified |
| Net fee income | 6.0 m | -56.4 m | SEC (XBRL)· 18 Mar 2026verified |
| Non-interest expense | 47.3 m | 52.8 m | SEC (XBRL)· 18 Mar 2026verified |
| Pre-tax income | 29.8 m | -27.0 m | SEC (XBRL)· 18 Mar 2026verified |
| Net income | 21.0 m | -19.6 m | SEC (XBRL)· 18 Mar 2026verified |
| Diluted EPS | 2.76 | -2.25 | SEC (XBRL)· 18 Mar 2026verified |
Balance sheet · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 82.7 m | 154.6 m | SEC (XBRL)· 18 Mar 2026verified |
| Loans | 1.8 bn | 2.1 bn | SEC (XBRL)· 18 Mar 2026verified |
| Total assets | 2.3 bn | 2.6 bn | SEC (XBRL)· 18 Mar 2026verified |
| Deposits | 1.9 bn | 2.2 bn | SEC (XBRL)· 18 Mar 2026verified |
| Short-term debt | 185.0 m | 60.0 m | SEC (XBRL)· 18 Mar 2026verified |
| Total liabilities | 2.1 bn | 2.3 bn | SEC (XBRL)· 18 Mar 2026verified |
| Equity | 186.4 m † | 281.0 m † | SEC (XBRL)· 18 Mar 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Computed indicators
Growth
Profitability
Returns
Market and valuation
Banking
32 indicators that do not apply to the sector.
Valuation
olivLaw classification
- score weight coverage: 52.0% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
04 Nov 2026Source: olivLaw, closing series
Market cap: 383.5 m USD
Key indicators
Coverage and freshness
Score by group
52% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 18.39 – 40.14 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- Residual income18.39 – 19.22 (Mid 18.80)
- Justified P/Bunavailable · insufficient data
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
- Peers: P/Eunavailable · the base of the ratio is not positive
- Peers: P/B29.71 – 40.14 (Mid 33.74)34 companies used · median multiple 1.3x · quartiles 1.1x – 1.5xACNB, ALLY, ASB, AUBN, BANR, BWFG, CFG, COFS, COSO, EFSI, EWBC, FBP, FHB, FITB, FUSB, FVCB, GABC, GBCI, HTH, ISBA, JMSB, MNSB, MTB, MYFW, NWFL, OFG, OPBK, PEBK, PEBO, STT, TCBI, TCBK, WAL, WTFC
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: score weight coverage: 52.0% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROE · Quality | -5.6% | 0 (vs peers) | 31% |
| ROA · Quality | -0.6% | 0 (on a fixed band) | 12% |
| Cost-to-income · Quality | 125.1% | 0 (on a fixed band) | 19% |
| Net interest margin · Quality | 4.0% | 100 (on a fixed band) | 12% |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| NPL ratio · Balance sheet | unavailable | unavailable | — |
| Cost of risk · Balance sheet | unavailable | unavailable | — |
| Loan-to-deposit · Balance sheet | 94.9% | 13 (on a fixed band) | 8% |
| P/B · Valuation | 1.3x | 44 (vs peers) | 19% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| Dividend yield · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial13/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality16/100 · 4/4 factors with a value
- Returns· partialunavailable · 0/1 factors with a value
- Valuation· partial44/100 · 1/2 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
Avidbank Holdings, Inc. (AVBH). Latest full fiscal year: 2025; data up to 2026-06-30.
Figures computed from the financial statements: net interest income 87.3 m USD in 2025; ROE -5.6%.
The estimated value range is 24.05–29.68 USD per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 26.27 USD, the price of 34.92 USD leaves a potential of -24.8% (value / price − 1) and a margin of safety of -32.9% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (score weight coverage: 52.0% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Net interest margin: 4.0%
What contradicts it
- ROE: -5.6%
- ROA: -0.6%
- Cost-to-income: 125.1%
- Loan-to-deposit: 94.9%
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): EPS CAGR 3Y, Revenue CAGR 3Y, NPL ratio, Cost of risk, P/E (TTM), Dividend yield.
Versus the vertical median
State Commercial Banks (SIC 6022) · same industry (4-digit SIC) · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| BNYThe Bank Of New York Mellon Corporation | 102.8 bn | 16.8 | 15.0% | 32.6% | +7.8% | +36% / +216% |
| FITBFifth Third Bancorp | 49.4 bn | 18.4 | 9.4% | — | −2.0% | +26% / +89% |
| STTState Street Corporation | 47.2 bn | 13.9 | 13.1% | 23.8% | +7.3% | +46% / +138% |
| MTBM&T Bank Corp | 32.4 bn | 11.7 | 10.7% | 178.1% | +7.5% | +18% / +75% |
| NTRSNorthern Trust Corporation | 32.2 bn | 13.7 | 18.4% | 28.8% | −2.5% | +36% / +125% |
| CFGCitizens Financial Group Inc | 27.6 bn | 13.0 | 8.9% | 25.4% | +5.6% | +22% / +142% |
| EWBCEast West Bancorp, Inc. | 18.4 bn | 12.9 | 16.6% | — | +4.4% | +26% / +113% |
| ALLYAlly Financial Inc. | 11.8 bn | 8.8 | 9.9% | 16.8% | −3.3% | −5% / +35% |
| WTFCWintrust Financial Corp | 10.5 bn | 11.9 | 12.9% | 347.5% | +5.9% | +16% / +82% |
| WALWestern Alliance Bancorporation | 8.5 bn | 8.7 | 13.3% | 436.5% | +99.7% | −3% / +55% |
| GBCIGlacier Bancorp, Inc. | 6.5 bn | 18.6 | 8.8% | 308.8% | +7.5% | +17% / +48% |
| ASBAssociated Banc-Corp | 5.8 bn | 10.8 | 10.2% | — | −11.0% | +19% / +77% |
| TCBITexas Capital Bancshares Inc | 4.5 bn | 13.4 | 10.2% | — | unavailable | +18% / +93% |
| FBPFirst Bancorp | 4.1 bn | 11.2 | 19.5% | 29.0% | +2.4% | +34% / +77% |
| FHBFirst Hawaiian, Inc. | 3.1 bn | 11.6 | 9.9% | 30.3% | +8.9% | +4% / +32% |
| BANRBanner Corporation | 2.6 bn | 12.2 | 10.0% | — | unavailable | +14% / +59% |
| OFGOFG Bancorp | 2.2 bn | 10.1 | 16.1% | — | unavailable | +30% / +53% |
| HTHHilltop Holdings Inc. | 2.1 bn | 15.7 | 6.6% | — | unavailable | +10% / +28% |
| GABCGerman American Bancorp, Inc. | 1.9 bn | 13.4 | 12.5% | 28.2% | +37.8% | +28% / +76% |
| TCBKTriCo Bancshares | 1.7 bn | 12.9 | 10.4% | 249.7% | +4.1% | +12% / +57% |
| PEBOPeoples Bancorp Inc. | 1.4 bn | 11.7 | 10.1% | 136.3% | +2.3% | +34% / +35% |
| ACNBAcnb Corporation | 686.6 m | 12.8 | 13.3% | 27.1% | +45.1% | +39% / +73% |
| BWFGBankwell Financial Group, Inc. | 584.1 m | 12.9 | 14.5% | 1,437.5% | +44.0% | +60% / +172% |
| COFSChoiceOne Financial Services, Inc. | 562.5 m | 10.4 | 12.0% | 42.0% | +63.6% | +24% / +50% |
| NWFLNorwood Financial Corp | 398.9 m | 12.7 | 11.2% | 338.1% | +8.1% | +28% / +32% |
1- and 3-year price returns: for AVBH from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Avidbank Holdings is the parent of Avidbank, a San Jose California commercial bank focused on lending to small and mid-sized businesses, technology companies and venture-backed firms with a national reach through its Venture Lending division. The company listed in August 2025 and reports, for the third quarter of 2026, a return to profit after the 2025 loss, supported by deposit growth and a net interest margin of 4.07%.
SWOT
Strengths
- The deposit base is diversified through the Venture Lending division, and the cost of deposits declined in 2026 3. The bank reports a solid capital position and growth in loans and deposits 3.
- Close relationships with venture capital investors and sponsors provide a flow of referred clients and a niche expertise advantage 1.
- Cost structure has been kept under control, and efficiency is an explicit strategic objective 2.
Weaknesses
- Geographic concentration in California and the Bay Area makes the bank more sensitive to a local slowdown than diversified competitors 1.
- Results are volatile, the 2025 net loss being tied to the repositioning of the securities portfolio, which shows exposure in investment income 1.
- A significant part of deposits comes from a few large clients, and their withdrawal could force the bank to rely on more expensive funding 1.
Opportunities
- Expanding the newly established Small Business Administration lending division could open new small client segments 2.
- Growing core deposits and treasury services could improve non-interest income and funding stability 12.
- A more favorable environment for mergers, acquisitions and venture capital could boost demand for Specialty Finance and Venture Lending 1.
Threats
- A decline in the Bay Area commercial real estate market could affect the quality of the real estate book and demand for the bank's products 1.
- A drop in venture capital investment could reduce the ability of Venture Lending clients to repay their loans 1.
- Competition from large institutions with bigger capital bases and technology investment could limit the bank's growth 1.
Risks
- Geographic concentrationhigh
Activity is concentrated in California, so a regional economic slowdown could affect demand, credit quality and collateral values at the same time 1.
- Commercial real estate markethigh
Weakness in the Bay Area office market could lead to deterioration in the real estate portfolio, where exposure is significant 1.
- Venture division creditmedium
Venture Lending clients often have negative operating cash flow and rely on new funding rounds to repay, which can make credit losses volatile 1.
- Deposit concentrationmedium
Temporary large deposits and the deposits of key clients could be withdrawn, forcing the bank to fund itself at higher cost 13.
- Regulation and capitallow
The industry is heavily regulated, and capital requirements and monetary policy changes could affect margins and growth capacity 1.
Investment thesis
What would need to be true (bull case)
- If core deposit growth persists and the margin stays elevated, profitability could keep improving after the 2025 loss 3.
- Niche expertise in venture lending and investor relationships could support growth in favorable venture capital conditions 1.
- The capital structure strengthened after the public offering and subordinated note issuance could give flexibility for expansion 3.
What would break the thesis
- The net interest margin could decline if temporary deposits leave, as management itself expects 3.
- Rising non-performing loans could foreshadow wider problems in the real estate or venture portfolios if the economy cools 3.
- Geographic concentration and reliance on a single branch could make the bank more vulnerable than more diversified competitors 1.
What to watch
- Evolution of temporary deposits and the net interest marginQ4 2026
- Level of non-performing loans and loan loss provisionsQ4 2026
- Trend of the Bay Area real estate portfolio2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
Avidbank Holdings, Inc. operates through its wholly owned subsidiary Avidbank, a California state-chartered commercial bank founded in 2003 and headquartered in San Jose. The bank offers lending products, deposit services and digital banking, emphasizing relationship-driven service. Total consolidated assets were 2.57 billion USD at December 31, 2025, with total loans of 2.15 billion USD, according to 1. The company completed its IPO in August 2025 at 23.00 USD per share, with net proceeds of 61.3 million USD 1. Fiscal 2025 ended with a net loss of 19.6 million USD, driven by the securities repositioning, and in the third quarter of 2026 the company reported net income of 10.2 million USD 13.
Activities are organized into five divisions: Corporate Banking, Commercial Real Estate, Construction Lending, Venture Lending and Specialty Finance, which includes sponsor finance, asset-based lending and accounts receivable factoring. The bank operates one branch in San Jose and loan production offices in San Francisco and Redwood City 1. Geographic concentration remains central: at December 31, 2025, 65% of the loan portfolio was in the Bay Area, while about 26% of loan balances were outside California 1.
The strategy aims at organic growth, improved operating efficiency and a broader deposit base through treasury management services, and the bank recently established a Small Business Administration lending division 2. Results for 2026 show higher average deposits and a net interest margin above the 2025 level, although management described part of the deposit growth as temporary 3.
Market context
The bank competes in the California commercial banking market, with a focus on the Bay Area, one of the most dynamic technology regions in the United States, and on specialized lending to venture-backed companies nationwide 1. Competition is strong from commercial and community banks, non-bank lenders and large national institutions with larger capital bases and lending limits 1.
Trends
- Deposit growth and marginmixed
Average deposits grew strongly and the cost of deposits fell as benchmark rates declined, supporting the net interest margin 3. If the temporary large deposits do not persist, pressure on the margin could reappear.
- Venture capital cyclemixed
Venture financing and merger activity directly affect the ability of Venture Lending clients to repay, and a slowdown in investment could weigh on portfolio quality 1. A more favorable climate for technology companies would support the division's growth.
- Bay Area real estateheadwind
The San Francisco office market is recovering more slowly than elsewhere, and technology layoffs and weaker life sciences demand weigh on commercial credit 1. If this weakness persists, the quality of the real estate portfolio could suffer.
- Asset qualityheadwind
Non-performing loans rose to 0.70% of total loans at September 30, 2026, up from 0.14% a year earlier 3, an indicator to monitor, even though net charge-offs were nil in the third quarter 3.
Competitive position
Competition is intense and comes from commercial and community banks, credit unions, non-bank lenders and consumer finance companies, as well as large national financial institutions 1. The larger institutions have bigger capital bases, higher lending limits, more products and greater technology investment 1. The Venture Lending division competes nationally, relying on relationships with venture and private equity firms 1.
The bank's stated advantage lies in niche expertise in financing venture-backed companies and in investor relationships that refer clients to its bankers 1. If larger banks expand into these niches, the bank's positions in specialized segments could be tested.
- Large US commercial banks
Compete for commercial and corporate lending with larger lending limits and networks, as described in the annual report; no ticker is identified in the source.
- Regional community and commercial banks in California
Compete for small and mid-sized business clients in the Bay Area, the source citing competition from commercial and community banks.
- Non-bank lenders and finance companies
Compete for alternative financing, including asset-based lending and factoring, particularly within Specialty Finance.
- Venture capital and private equity firms as referral sources
Not direct competitors, but they shape competition for Venture Lending clients and are the bank's main referral source.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
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News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report26 Oct 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report27 Aug 2026Material agreement · Creation of a direct financial obligation · Regulation FD disclosure · Other events · Financial statements and exhibits
- Quarterly report12 Aug 2026
- Current report (amendment)11 Aug 2026Regulation FD disclosure · Financial statements and exhibits
- Current report03 Aug 2026Departure or appointment of officers · Other events · Financial statements and exhibits
- Current report23 Jul 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Current report21 May 2026Shareholder vote
- Quarterly report13 May 2026
- Current report27 Apr 2026Results of operations · Regulation FD disclosure · Financial statements and exhibits
- Proxy statement07 Apr 2026
Sources
- [1] Form 10-K, fiscal year ended 2025-12-31 · SEC / Avidbank Holdings, Inc. · 18 Mar 2026
- [2] Form 10-Q, quarter ended 2026-06-30 · SEC / Avidbank Holdings, Inc. · 12 Aug 2026
- [3] Form 8-K, results release (exhibit 99.1) · SEC / Avidbank Holdings, Inc. · 26 Oct 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.