Avidbank Holdings, Inc. Reports Earnings Results for the Fourth Quarter Ended December 31, 2018
January 24, 2019 at 06:00 am
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Avidbank Holdings, Inc. announced earnings results for the fourth quarter ended December 31, 2018. For the fourth quarter, the company announced net interest income was USD 10.735 million compared to USD 8.182 million a year ago. Net income was USD 3.481 million compared to USD 1.009 million a year ago. Basic earnings per share was USD 0.6 compared to USD 0.18 a year ago. Diluted earnings per share was USD 0.59 compared to USD 0.17 a year ago. For the full year, net interest income was USD 37.866 million compared to USD 30.528 million a year ago. Net income was USD 11.120 million compared to USD 5.654 million a year ago. Basic earnings per share was USD 1.93 compared to USD 1.1 a year ago. Diluted earnings per share was USD 1.9 compared to USD 1.08 a year ago.
Avidbank Holdings, Inc. is a bank holding company of Avidbank (the Bank). The Bank is a California state-chartered institution, which provides financial solutions and services. The Company specializes in commercial and industrial lending, venture lending, structured finance, asset-based lending, sponsor finance, real estate construction and commercial real estate lending. It offers real estate mortgage, real estate construction, commercial and consumer loans primarily to customers in the California counties of San Mateo, San Francisco and Santa Clara. Its products and services include Deposits, Lending, Cash Management and Online & Mobile. Its corporate banking provides working capital and equipment financing for privately held companies in the Bay Area; mergers and acquisition financing; employee stock ownership plan (ESOP) financing; owner-occupied real estate; and shareholder buyouts. Its specialty finance provides financing solutions to emerging growth companies across the country.
AVIDBANK HOLDINGS, INC. 
