PALO ALTO, Calif.--(BUSINESS WIRE)--
Avidbank Holdings, Inc. ("the Company") (OTCBB:AVBH), a bank holding
company and the parent company of Avidbank ("the Bank"), 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.
Full Year and Fourth Quarter 2015 Financial
Highlights
-
Net income was $3,681,000 in 2015, compared to $2,744,000 in 2014.
Results for 2015 included a loan loss provision of $3,047,000 compared
to a $39,000 loan loss provision in 2014. Net interest income was
$22,253,000 in 2015, an increase of $5,877,000 over the $16,376,000 we
achieved in 2014.
-
Diluted earnings per common share were $0.81 in 2015, compared to
$0.62 in 2014.
-
Net interest income was $5,821,000 for the fourth quarter of 2015, an
increase of $1,338,000 over the $4,483,000 we achieved in the fourth
quarter of 2014. The 30% increase over the prior year quarter reflects
the improved earnings potential resulting from our significant loan
growth in 2015.
-
Net income was $1,645,000 for the fourth quarter of 2015, compared to
$996,000 for the fourth quarter of 2014. Results for the fourth
quarter of 2015 included no loan loss provision compared a $39,000
loan loss provision in the fourth quarter of 2014.
-
Diluted earnings per common share were $0.36 for the fourth quarter of
2015, compared to $0.22 for the fourth quarter of 2014.
-
Total assets grew by 28% in 2015, ending the fourth quarter at $602
million.
-
Total loans outstanding grew by 18% in 2015, ending the fourth quarter
at $403 million.
-
Total deposits grew by 38% in 2015, ending the fourth quarter at $532
million.
-
The Bank continues to be well capitalized with a Tier 1 Leverage Ratio
of 9.7%, a Tier 1 Risk Based Capital and Common Equity Tier 1 Risk
Based Capital Ratio of 10.6%, and a Total Risk Based Capital Ratio of
11.6%.
Mark D. Mordell, Chairman and Chief Executive Officer, stated, "Our
results dramatically improved in 2015 over the prior year and show the
impact of two years of sustained loan growth. Loans outstanding
increased by 18% in 2015 following on a 33% increase in 2014. We have
invested heavily and worked hard to achieve this loan growth while
maintaining strict standards for credit quality. Our charge-offs in 2015
derived from a single relationship and our non-performing loans at
December 31, 2015 also resulted from a single relationship. Our
non-performing loans have dropped to 0.47% of total loans. Net interest
income increased by 30% in the fourth quarter of 2015 compared to the
fourth quarter of 2014. We continue to manage our expenses and our
efficiency ratio has improved to 59% compared to 68% for the fourth
quarter of the prior year. As we increase in size we are gaining
efficiencies and increasing our ability to penetrate the market and
these will be major contributors to our profitability going forward."
“The Bank's total deposits increased by $40 million in the fourth
quarter of 2015 as a result of increased demand deposit accounts. Core
deposits make up over 88% of total deposits and our demand deposits and
interest checking accounts were 43% of total deposits as of December 31,
2015," noted Mr. Mordell. "The growth in loans, which have greater
yields than other earning assets, has resulted in an improvement in our
net interest margin to 4.52% in 2015 compared to 3.79% in 2014. These
trends have been consistent throughout 2015 and have resulted in an
increase in net interest income of $5.9 million from $16.4 million in
2014 to $22.3 million in 2015. To provide capacity for our future growth
we raised $12 million of ten year subordinated debt in November 2015 as
announced in our press release at the time. This debt bears interest at
6.875% annually and is fixed for the first five years and variable for
the remainder of the term. We will downstream capital to the Bank as
needed to maintain healthy capital ratios and appropriate levels
required for real estate loan concentrations.”
Results for the twelve months ended December 31,
2015
Net interest income before provision for loan losses was $22.3 million
in 2015, an increase of $5,877,000 or 35.9% over the same period from
the prior year. Higher outstanding loan balances and stable interest
rates paid on deposits were partially offset by lower loan yields.
Average earning assets were $504 million in 2015, a 15% increase over
the prior year. Net interest margin was 4.52% for 2015 year to date
compared to 3.79% for 2014. The increase in net interest margin was
primarily caused by growth in average loans and a decrease in average
Fed funds sold partially offset by a decline in loan yields due to the
current interest rate environment. A loan loss provision of $3,047,000
was recorded in 2015 and a $39.000 provision was taken in 2014. We had
charge-offs net of recoveries of $2,527,000 in 2015 compared to net
recoveries of $46,000 in the same period of 2014.
Non-interest income, excluding gains and losses on sales of securities,
was $1,645,000 in 2015, an increase of $338,000 or 26% over 2014. The
increase in non-interest income was due to increases in service charges
and other fee generation activities including a special FHLB dividend of
$175,000 as well as an increase in earnings on bank owned life
insurance. There were gains on sales of securities in 2014 of $261,000
and a loss of $33,000 related to a small repositioning of securities in
the investment portfolio in 2015.
Non-interest expense grew by $1,576,000 or 12% in 2015 to $14.9 million
compared to $13.4 million in 2014. This growth was due to investments in
loan production personnel and facilities as we continue to expand our
footprint and grow our loan portfolio.
Results for the quarter ended December 31, 2015
For the three months ended December 31, 2015, net interest income before
provision for loan losses was $5.8 million, an increase of $1.3 million
or 30% compared to the fourth quarter of 2014. The increase was
primarily the result of higher loans outstanding. Average loans
outstanding for the quarter ended December 31, 2015 were $401 million,
compared to $317 million for the same quarter in 2014, an increase of
$84 million or 26%. Average earning assets were $539 million in the
fourth quarter of 2015, a 27% increase over the fourth quarter of the
prior year. Net interest margin was 4.32% for the fourth quarter of
2015, compared to 4.20% for the fourth quarter of 2014. Net interest
margin increased due to growth in loans. No loan loss provision was
taken in the fourth quarter of 2015 and a loan loss provision of $39,000
was taken in the fourth quarter of 2014.
Non-interest income, excluding gains on sales of securities, was
$374,000 in the fourth quarter of 2015, an increase of $9,000 or 2% over
the fourth quarter of 2014. The increase was due to increases in FHLB
dividends, service charges and other fee generation activities. There
were no gains or losses on sales of securities in the fourth quarter of
2015 compared to a gain of $239,000 on sales of securities in the fourth
quarter of 2014.
Non-interest expense grew by $188,000 in the fourth quarter of 2015 to
$3.7 million compared to $3.5 million for the fourth quarter of 2014.
This growth was due to investments in loan production personnel. The
Bank's full time equivalent employees at December 31, 2015 and 2014 were
63 and 60, respectively. The Bank's efficiency ratio improved from 68%
in the fourth quarter of 2014 to 59% in the fourth quarter of 2015.
Balance Sheet
Total assets increased to $602 million as of December 31, 2015, compared
to $577 million at September 30, 2015 and $469 million on the same date
one year ago. The increase in total assets of $25 million, or 4%, from
September 30, 2015 was primarily due to the increase in demand deposit
accounts in the fourth quarter of 2015. The Company reported gross loans
outstanding at December 31, 2015 of $403 million, which represented a
decrease of $22.6 million, or 5%, over $425 million at September 30,
2015, and an increase of $61 million, or 18%, over $342 million at
December 31, 2014. The decrease in total gross loans from September 30,
2015 was primarily attributable to payoffs of construction and
commercial real estate loans. The increase in loans from December 31,
2014 was attributable to growth in the construction, commercial real
estate and commercial lending categories.
Balance Sheet (continued)
Non-accrual loans totaled $1.9 million or 0.47% of total loans on
December 31, 2015 compared to $5.2 million or 1.53% of total loans for
the previous year-end. "The credit quality of our portfolio continues to
improve and our non-performing loans represent a single relationship,"
observed Mr. Mordell.
The Company’s total deposits were $532 million as of December 31, 2015,
which represented an increase of $40 million, or 8%, compared to $491
million at September 30, 2015 and an increase of $146 million, or 38%,
compared to $386 million at December 31, 2014. The increase in deposits
from September 30, 2015 was primarily attributable to an increase in
demand deposit accounts, while the increase from December 31, 2014 was
primarily attributable to an increase in demand deposit accounts, money
market deposits and brokered deposits.
Demand and transaction deposits represented 43.1% of total deposits at
December 31, 2015, compared to 39.4% at September 30, 2015 and 41.9% for
the same period one year ago. Core deposits represented 88.5% of total
deposits at December 31, 2015, compared to 89.4% at September 30, 2015
and 94.2% at December 31, 2014.
About Avidbank
Avidbank Holdings, Inc., headquartered in Palo Alto, California,
offers innovative financial solutions and services. We specialize in the
following markets:commercial & industrial, corporate finance,
asset-based lending, real estate construction and commercial real estate
lending, and real estate bridge financing. Avidbank advances the success
of our clients by providing them with financial opportunities and
serving them as we wish to be served – with mutual effort, ingenuity and
trust – creating long-term banking relationships.
Forward-Looking Statement:
This news release contains statements that are forward-looking
statements within the meaning of the Private Securities Litigation
Reform Act of 1995. These statements are based on current expectations,
estimates and projections about Avidbank's business based, in part, on
assumptions made by management. These statements are not guarantees of
future performance and involve risks, uncertainties and assumptions that
are difficult to predict. Therefore, actual outcomes and results may
differ materially from what is expressed or forecasted in such
forward-looking statements due to numerous factors, including those
described above and the following: Avidbank's timely implementation of
new products and services, technological changes, changes in consumer
spending and savings habits and other risks discussed from time to time
in Avidbank's reports and filings with banking regulatory agencies. In
addition, such statements could be affected by general industry and
market conditions and growth rates, and general domestic and
international economic conditions. Such forward-looking statements speak
only as of the date on which they are made, and Avidbank does not
undertake any obligation to update any forward-looking statement to
reflect events or circumstances after the date of this release.
|
| |
| |
| |
| |
| |
| Avidbank Holdings, Inc. |
| Consolidated Balance Sheets |
|
($000, except share, per share amounts and ratios) (Unaudited)
|
| | | | | | | | | |
|
Assets | | 12/31/2015 | | 9/30/2015 | | 6/30/2015 | | 3/31/2015 | | 12/31/2014 |
|
Cash and due from banks
| |
$
|
21,277
| | |
$
|
21,674
| | |
$
|
19,773
| | |
$
|
17,321
| | |
$
|
17,986
| |
|
Fed funds sold
| |
|
89,045
|
|
|
|
36,220
|
|
|
|
35,875
|
|
|
|
20,830
|
|
|
|
8,150
|
|
|
Total cash and cash equivalents
| | |
110,322
| | | |
57,894
| | | |
55,648
| | | |
38,151
| | | |
26,136
| |
| | | | | | | | | |
|
|
Investment securities - available for sale
| | |
69,766
| | | |
71,723
| | | |
74,560
| | | |
83,316
| | | |
79,501
| |
| | | | | | | | | |
|
|
Loans, net of deferred loan fees
| | |
402,658
| | | |
425,224
| | | |
404,036
| | | |
383,422
| | | |
341,966
| |
|
Allowance for loan losses
| |
|
(5,394
|
)
|
|
|
(5,394
|
)
|
|
|
(5,122
|
)
|
|
|
(5,912
|
)
|
|
|
(4,873
|
)
|
|
Loans, net of allowance for loan losses
| | |
397,264
| | | |
419,830
| | | |
398,914
| | | |
377,510
| | | |
337,093
| |
| | | | | | | | | |
|
|
Bank owned life insurance
| | |
12,293
| | | |
12,204
| | | |
12,116
| | | |
12,029
| | | |
11,944
| |
|
Premises and equipment, net
| | |
862
| | | |
901
| | | |
989
| | | |
1,046
| | | |
1,024
| |
|
Accrued interest receivable & other assets
| |
|
11,129
|
|
|
|
14,197
|
|
|
|
13,995
|
|
|
|
15,256
|
|
|
|
13,343
|
|
|
Total assets
| |
$
|
601,636
|
|
|
$
|
576,749
|
|
|
$
|
556,222
|
|
|
$
|
527,308
|
|
|
$
|
469,041
|
|
| | | | | | | | | |
|
Liabilities | | | | | | | | | | |
|
Non-interest-bearing demand deposits
| |
$
|
207,296
| | |
$
|
173,600
| | |
$
|
174,265
| | |
$
|
156,606
| | |
$
|
140,429
| |
|
Interest bearing transaction accounts
| | |
22,068
| | | |
19,771
| | | |
18,647
| | | |
21,567
| | | |
21,170
| |
|
Money market and savings accounts
| | |
227,089
| | | |
230,865
| | | |
202,758
| | | |
170,872
| | | |
185,778
| |
|
Time deposits
| |
|
75,291
|
|
|
|
67,054
|
|
|
|
67,100
|
|
|
|
39,873
|
|
|
|
38,544
|
|
|
Total deposits
| | |
531,744
| | | |
491,290
| | | |
462,770
| | | |
388,918
| | | |
385,921
| |
| | | | | | | | | |
|
|
FHLB Borrowing
| | |
-
| | | |
25,000
| | | |
35,000
| | | |
80,000
| | | |
25,000
| |
|
Subordinated Debt
| | |
12,000
| | | |
-
| | | |
-
| | | |
-
| | | |
-
| |
|
Other liabilities
| |
|
2,267
|
|
|
|
6,192
|
|
|
|
5,816
|
|
|
|
5,859
|
|
|
|
6,573
|
|
|
Total liabilities
| | |
546,011
| | | |
522,482
| | | |
503,586
| | | |
474,777
| | | |
417,494
| |
| | | | | | | | | |
|
Shareholders' equity | | | | | | | | | | |
|
Common stock/additional paid-in capital
| | |
45,950
| | | |
47,032
| | | |
46,891
| | | |
45,596
| | | |
45,206
| |
|
Retained earnings
| | |
9,724
| | | |
6,981
| | | |
5,712
| | | |
6,441
| | | |
6,162
| |
|
Accumulated other comprehensive income
| |
|
(49
|
)
|
|
|
254
|
|
|
|
33
|
|
|
|
494
|
|
|
|
179
|
|
|
Total shareholders' equity
| | |
55,625
| | | |
54,267
| | | |
52,636
| | | |
52,531
| | | |
51,547
| |
| | | | | | | | | |
|
|
Total liabilities and shareholders' equity
| |
$
|
601,636
|
|
|
$
|
576,749
|
|
|
$
|
556,222
|
|
|
$
|
527,308
|
|
|
$
|
469,041
|
|
| | | | | | | | | |
|
Bank Capital ratios | | | | | | | | | | |
|
Tier 1 leverage ratio
| | |
9.74
|
%
| | |
9.52
|
%
| | |
9.58
|
%
| | |
10.35
|
%
| | |
10.53
|
%
|
|
Tier 1 and Common Equity Tier 1 RBC ratio
| | |
10.57
|
%
| | |
9.57
|
%
| | |
9.83
|
%
| | |
10.09
|
%
| | |
11.03
|
%
|
|
Total risk-based capital (RBC) ratio
| | |
11.63
|
%
| | |
10.60
|
%
| | |
10.86
|
%
| | |
11.32
|
%
| | |
12.19
|
%
|
| | | | | | | | | |
|
|
Book value per common share
| |
$
|
12.49
| | |
$
|
12.20
| | |
$
|
11.86
| | |
$
|
11.93
| | |
$
|
11.84
| |
|
Total common shares outstanding
| | |
4,452,853
| | | |
4,448,898
| | | |
4,439,743
| | | |
4,402,292
| | | |
4,352,319
| |
| | | | | | | | | |
|
Other Ratios | | | | | | | | | | |
|
Non-interest bearing/total deposits
| | |
39.0
|
%
| | |
35.3
|
%
| | |
37.7
|
%
| | |
40.3
|
%
| | |
36.4
|
%
|
|
Loan to deposit ratio
| | |
75.7
|
%
| | |
86.6
|
%
| | |
87.3
|
%
| | |
98.6
|
%
| | |
88.6
|
%
|
|
Allowance for loan losses/total loans
| | |
1.34
|
%
| | |
1.27
|
%
| | |
1.27
|
%
| | |
1.54
|
%
| | |
1.42
|
%
|
|
| |
| |
| |
| |
| |
| Avidbank Holdings, Inc. |
| Condensed Consolidated Statements of Income |
|
($000, except share, per share amounts and ratios) (Unaudited)
|
| | | | | | | | | |
|
| |
Quarter Ended
| |
Year Ended
|
| | 12/31/2015 | | 9/30/2015 | | 12/31/2014 | | 12/31/2015 | | 12/31/2014 |
|
Interest and fees on loans and leases
| |
$
|
5,745
| | |
$
|
5,658
| | |
$
|
4,128
| | |
$
|
21,543
| | |
$
|
15,204
| |
|
Interest on investment securities
| | |
426
| | | |
380
| | | |
497
| | | |
1,730
| | | |
1,739
| |
|
Other interest income
| |
|
49
|
|
|
|
19
|
|
|
|
28
|
|
|
|
94
|
|
|
|
231
|
|
|
Total interest income
| | |
6,220
| | | |
6,057
| | | |
4,653
| | | |
23,367
| | | |
17,174
| |
| | | | | | | | | |
|
|
Deposit interest expense
| | |
284
| | | |
250
| | | |
169
| | | |
925
| | | |
791
| |
|
Other interest expense
| |
|
115
|
|
|
|
19
|
|
|
|
1
|
|
|
|
189
|
|
|
|
7
|
|
|
Total interest expense
| |
|
399
|
|
|
|
269
|
|
|
|
170
|
|
|
|
1,114
|
|
|
|
798
|
|
|
Net interest income
| | |
5,821
| | | |
5,788
| | | |
4,483
| | | |
22,253
| | | |
16,376
| |
| | | | | | | | | |
|
|
Provision for loan losses
| |
|
-
|
|
|
|
259
|
|
|
|
39
|
|
|
|
3,047
|
|
|
|
39
|
|
Net interest income after provision for loan losses
| | |
5,821
| | | |
5,529
| | | |
4,444
| | | |
19,206
| | | |
16,337
| |
| | | | | | | | | |
|
|
Service charges, fees and other income
| | |
285
| | | |
312
| | | |
278
| | | |
1,297
| | | |
970
| |
|
Income from bank owned life insurance
| | |
89
| | | |
88
| | | |
87
| | | |
348
| | | |
337
| |
|
Gain (Loss) on sale of investment securities
| |
|
-
|
|
|
|
(33
|
)
|
|
|
239
|
|
|
|
(33
|
)
|
|
|
261
|
|
|
Total non-interest income
| | |
374
| | | |
367
| | | |
604
| | | |
1,612
| | | |
1,568
| |
| | | | | | | | | |
|
|
Compensation and benefit expenses
| | |
2,202
| | | |
2,292
| | | |
2,147
| | | |
9,288
| | | |
8,295
| |
|
Occupancy and equipment expenses
| | |
594
| | | |
614
| | | |
568
| | | |
2,446
| | | |
2,325
| |
|
Other operating expenses
| |
|
869
|
|
|
|
860
|
|
|
|
762
|
|
|
|
3,207
|
|
|
|
2,745
|
|
|
Total non-interest expense
| | |
3,665
| | | |
3,766
| | | |
3,477
| | | |
14,941
| | | |
13,365
| |
| | | | | | | | | |
|
|
Income before income taxes
| | |
2,530
| | | |
2,130
| | | |
1,571
| | | |
5,877
| | | |
4,540
| |
|
Provision for income taxes
| |
|
885
|
|
|
|
861
|
|
|
|
575
|
|
|
|
2,196
|
|
|
|
1,796
|
|
|
Net income
| |
$
|
1,645
|
|
|
$
|
1,269
|
|
|
$
|
996
|
|
|
$
|
3,681
|
|
|
$
|
2,744
|
|
| | | | | | | | | |
|
| | | | | | | | | |
|
| | | | | | | | | |
|
|
Basic earnings per common share
| |
$
|
0.37
| | |
$
|
0.29
| | |
$
|
0.23
| | |
$
|
0.83
| | |
$
|
0.63
| |
|
Diluted earnings per common share
| |
$
|
0.36
| | |
$
|
0.28
| | |
$
|
0.22
| | |
$
|
0.81
| | |
$
|
0.62
| |
| | | | | | | | | |
|
|
Average common shares outstanding
| | |
4,450,315
| | | |
4,446,326
| | | |
4,343,719
| | | |
4,421,580
| | | |
4,323,826
| |
|
Average common fully diluted shares
| | |
4,570,053
| | | |
4,553,640
| | | |
4,428,005
| | | |
4,519,136
| | | |
4,400,659
| |
| | | | | | | | | |
|
|
Annualized returns:
| | | | | | | | | | |
|
Return on average assets
| | |
1.12
|
%
| | |
0.89
|
%
| | |
0.83
|
%
| | |
0.67
|
%
| | |
0.57
|
%
|
|
Return on average common equity
| | |
11.92
|
%
| | |
9.44
|
%
| | |
7.95
|
%
| | |
6.87
|
%
| | |
5.54
|
%
|
| | | | | | | | | |
|
|
Net interest margin
| | |
4.32
|
%
| | |
4.46
|
%
| | |
4.20
|
%
| | |
4.52
|
%
| | |
3.79
|
%
|
|
Cost of funds
| | |
0.30
|
%
| | |
0.21
|
%
| | |
0.16
|
%
| | |
0.23
|
%
| | |
0.19
|
%
|
|
Efficiency ratio
| | |
59.16
|
%
| | |
61.19
|
%
| | |
68.35
|
%
| | |
62.61
|
%
| | |
74.48
|
%
|
|
| |
| |
| |
| |
| |
| Avidbank Holdings, Inc. |
| Credit Trends |
|
($000, except ratios) (Unaudited)
|
| | | | | | | | | |
|
| | 12/31/2015 | | 9/30/2015 | | 6/30/2015 | | 3/31/2015 | | 12/31/2014 |
Allowance for Loan Losses | | | | | | | | | | |
|
Balance, beginning of quarter
| |
$
|
5,394
| | |
$
|
5,122
| | |
$
|
5,912
| | |
$
|
4,873
| | |
$
|
4,826
| |
|
Provision for loan losses, quarterly
| | |
-
| | | |
259
| | | |
1,756
| | | |
1,031
| | | |
39
| |
|
Charge-offs, quarterly
| | |
-
| | | |
-
| | | |
(2,554
|
)
| | |
-
| | | |
-
| |
|
Recoveries, quarterly
| |
|
-
|
|
|
|
13
|
|
|
|
8
|
|
|
|
8
|
|
|
|
8
|
|
|
Balance, end of quarter
| |
$
|
5,394
|
|
|
$
|
5,394
|
|
|
$
|
5,122
|
|
|
$
|
5,912
|
|
|
$
|
4,873
|
|
| | | | | | | | | |
|
Nonperforming Assets | | | | | | | | | | |
|
Loans accounted for on a non-accrual basis
| |
$
|
1,899
| | |
$
|
2,409
| | |
$
|
3,930
| | |
$
|
7,478
| | |
$
|
5,243
| |
|
Loans with principal or interest contractually past due 90 days or
more and still accruing interest
| |
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Nonperforming loans
| | |
1,899
| | | |
2,409
| | | |
3,930
| | | |
7,478
| | | |
5,243
| |
|
Other real estate owned
| |
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Nonperforming assets
| |
$
|
1,899
|
|
|
$
|
2,409
|
|
|
$
|
3,930
|
|
|
$
|
7,478
|
|
|
$
|
5,243
|
|
Loans restructured and in compliance with modified terms
| |
|
477
|
|
|
|
477
|
|
|
|
477
|
|
|
|
481
|
|
|
|
-
|
|
|
Nonperforming assets & restructured loans
| |
$
|
2,376
|
|
|
$
|
2,886
|
|
|
$
|
4,407
|
|
|
$
|
7,959
|
|
|
$
|
5,243
|
|
| | | | | | | | | |
|
|
Nonperforming Loans by Asset Type:
| | | | | | | | | | |
|
Commercial
| |
$
|
1,899
| | |
$
|
2,409
| | |
$
|
3,930
| | |
$
|
7,478
| | |
$
|
5,243
| |
|
Other real estate
| |
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
|
-
|
|
|
Nonperforming loans
| |
$
|
1,899
|
|
|
$
|
2,409
|
|
|
$
|
3,930
|
|
|
$
|
7,478
|
|
|
$
|
5,243
|
|
| | | | | | | | | |
|
Asset Quality Ratios | | | | | | | | | | |
|
Allowance for loan losses / gross loans
| | |
1.34
|
%
| | |
1.27
|
%
| | |
1.27
|
%
| | |
1.54
|
%
| | |
1.42
|
%
|
|
Allowance for loan losses / nonperforming loans
| | |
284.04
|
%
| | |
223.91
|
%
| | |
130.33
|
%
| | |
79.06
|
%
| | |
92.94
|
%
|
|
Nonperforming assets / total assets
| | |
0.32
|
%
| | |
0.42
|
%
| | |
0.71
|
%
| | |
1.42
|
%
| | |
1.12
|
%
|
|
Nonperforming loans / gross loans
| | |
0.47
|
%
| | |
0.57
|
%
| | |
0.97
|
%
| | |
1.95
|
%
| | |
1.53
|
%
|
|
Net quarterly charge-offs / gross loans
| | |
0.00
|
%
| | |
0.00
|
%
| | |
0.63
|
%
| | |
0.00
|
%
| | |
0.00
|
%
|
View source version on businesswire.com: http://www.businesswire.com/news/home/20160210005484/en/
Avidbank Holdings, Inc.
Steve Leen, 650-843-2204
Executive
Vice President and Chief Financial Officer
sleen@avidbank.com
avidbank.com
Source: Avidbank Holdings, Inc.