Avidbank Holdings, Inc. issued $30 million in aggregate principal amount of 7.00% Fixed-to-Floating Rate Subordinated Notes due 2036 via a private placement on August 26, 2026. The notes carry a fixed interest rate until September 1, 2031, after which the rate resets quarterly to three-month SOFR plus 291 basis points. Proceeds were used to repurchase $18 million of outstanding principal from its existing 5.000% Fixed-to-Floating Subordinated Notes due 2029 at a cost of approximately $18.2 million, including accrued interest. The company also notified the paying agent to redeem the remaining $4 million of the 2029 notes on September 30, 2026, resulting in the full retirement of that debt series. Avidbank Holdings operates as a financial holding company providing commercial and industrial lending, venture lending, structured finance, and real estate construction services.

Avidbank Holdings, Inc. appointed Jonathan M. Dale as its new President, effective August 3, 2026. Dale succeeds Mark D. Mordell in the presidency role, while Mordell retains his positions as Chairman and Chief Executive Officer. Dale brings nearly 30 years of banking experience, previously serving as Executive Vice President and Regional Executive for California at Umpqua Bank (now Columbia Bank). His compensation package includes a $625,000 annual base salary, eligibility for an incentive bonus up to 100% of base, and a $500,000 restricted stock award. The appointment reflects the board's succession planning efforts to ensure leadership continuity. Avidbank Holdings, Inc. operates in the financial services industry as a holding company for a state-chartered commercial bank specializing in lending solutions.

Avidbank Holdings, Inc. reported second quarter 2026 net income of $7.6 million, or $0.71 per diluted share, down from $9.0 million in the first quarter of 2026. Results included a $2.6 million litigation settlement expense and $1.3 million in income from bank-owned life insurance death benefits. Adjusted net income was $8.2 million, or $0.76 per adjusted diluted share. Period-end loans grew 9% from the previous quarter to $2.22 billion, while average deposits increased 11% to $2.21 billion. The net interest margin was 4.26%, a decrease from 4.38% in the prior quarter. Non-performing loans to total loans stood at 0.65%. The company is a financial services provider specializing in commercial and industrial lending.