# EDGAR Filing Document

**Accession Number:** 0002058758
**File Stem:** 0001193125-26-033757
**Filing Date:** 2026-2
**Character Count:** 59607
**Document Hash:** 5fcab3926f980c83904b3902e8b3c698
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-033757.hdr.sgml**: 20260202

**ACCESSION NUMBER**: 0001193125-26-033757

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 12

**CONFORMED PERIOD OF REPORT**: 20260129

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Other Events

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20260202

**DATE AS OF CHANGE**: 20260202

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Avidia Bancorp, Inc.
- **CENTRAL INDEX KEY:** 0002058758
- **STANDARD INDUSTRIAL CLASSIFICATION:** SAVINGS INSTITUTIONS, NOT FEDERALLY CHARTERED [6036]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 334239888
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-42775
- **FILM NUMBER:** 26588323

**BUSINESS ADDRESS:**
- **STREET 1:** 42 MAIN STREET
- **CITY:** HUDSON
- **STATE:** MA
- **ZIP:** 01749
- **BUSINESS PHONE:** 800-508-2265

**MAIL ADDRESS:**
- **STREET 1:** 42 MAIN STREET
- **CITY:** HUDSON
- **STATE:** MA
- **ZIP:** 01749

?xml version='1.0' encoding='ASCII'? 8-K

**UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549**

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## FORM 8-K

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**CURRENT REPORT**

**Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934**

**Date of Report (Date of earliest event reported):** January 29, 2026<br>

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Avidia Bancorp, Inc.

**(Exact name of Registrant as Specified in Its Charter)**

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| | | |
|:---|:---|:---|
| Maryland | 001-42775 | 33-4239888 |
| **(State or Other Jurisdiction<br>of Incorporation)** | **(Commission File Number)** | **(IRS Employer<br>Identification No.)** |
| 42 Main Street |  |  |
| Hudson**,** Massachusetts |  | 01749 |
| **(Address of Principal Executive Offices)** |  | **(Zip Code)** |

---

**Registrant's Telephone Number, Including Area Code:** 800 5082265<br>

**(Former Name or Former Address, if Changed Since Last Report)**

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Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

**Securities registered pursuant to Section 12(b) of the Act:**

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| | | |
|:---|:---|:---|
| **<br>Title of each class** | **Trading<br>Symbol(s)** | **<br>Name of each exchange on which registered** |
| Common stock, $0.01 par value per share | AVBC | New York Stock Exchange |

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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

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## Item 2.02 Results of Operations and Financial Condition.
On January 29, 2026, Avidia Bancorp, Inc. (the "Company"), the holding company of Avidia Bank, issued a press release announcing the unaudited consolidated financial results of the Company for the quarter and year ended December 31, 2025. A copy of the press release is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

## Item 8.01 Other Events.
On January 29, 2026, the Board of Directors of Avidia Bancorp, Inc. declared a dividend of $0.05 per share. The dividend will be paid on or about February 26, 2026 to stockholders of record as of the close of business on February 17, 2026. A copy of the press release announcing the declaration of the dividend is furnished as Exhibit 99.1 hereto and incorporated herein by reference.

## Item 9.01 Financial Statements and Exhibits.
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) Exhibits

<u>Exhibit No.</u> <u>Description</u>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;[<u>99.1</u>](avbc-ex99_1.htm)[<u>Press Release dated January 29, 2026</u>](avbc-ex99_1.htm)

104 Cover Page Interactive Data File (Embedded within Inline XBRL document)

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**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

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| | | | |
|:---|:---|:---|:---|
|  |  |  | **AVIDIA BANCORP, INC** |
| Date: | January 29, 2026 | By:  | /s/ Jonathan Nelson |
|  |  |  | Jonathan Nelson<br>Chief Financial Officer |

---

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## Exhibit 99.1

**Exhibit 99.1**

![img180766831_0.jpg](img180766831_0.jpg)

**Contact:**

Robert D. Cozzone

President and Chief Executive Officer

Avidia Bancorp, Inc.

(800) 508-2265

**Avidia Bancorp, Inc. Reports Fourth Quarter and Annual 2025 Financial Results, Declares Quarterly Cash Dividend**

HUDSON, MA; January 29, 2026 – Avidia Bancorp, Inc. (the "Company") (NYSE: "AVBC"), the holding company of Avidia Bank, today reported fourth quarter and annual 2025 consolidated financial results. Net income for the fourth quarter of 2025 was $5.3 million, or $0.29 per share, compared to net income of $3.5 million for the fourth quarter of 2024. For the year ended December 31, 2025, the net loss was $3.3 million, or ($0.18) per share, compared to net income of $11.5 million for the year ended December 31, 2024.

The Company also announced today the declaration of a quarterly cash dividend of $0.05 per share on its outstanding shares of common stock, payable on or about February 26, 2026, to stockholders of record as of the close of business on February 17, 2026. This is the Company's initial cash dividend payment following its initial public stock offering in July 2025.

"Our primary objective of deploying our newly issued capital in a disciplined manner was reflected in fourth quarter results." said Robert Cozzone, President and Chief Executive Officer. "Growth across most commercial loan categories was fully funded with core deposits growth, leading to net interest margin expansion. In addition, solid earnings for the quarter contributed to 2.1% growth in tangible book value per share. We are also pleased to announce the initiation of our first quarterly dividend."

**SELECTED FOURTH QUARTER FINANCIAL HIGHLIGHTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net income was $5.3 million, or $0.29 per share, for the fourth quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net interest margin increased quarter-over-quarter by 11 basis points to 3.54%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Efficiency ratio of 67.2% continues to improve over prior periods.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Book value per share and tangible book value per share (non-GAAP) increased to $18.88 and $18.28, respectively. See the non-GAAP reconciliation at the end of this document for further information.

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**BALANCE SHEET:**

Total assets were $2.84 billion at December 31, 2025, increasing $50.1 million, or 1.8%, from September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total cash and cash equivalents increased by $33.6 million, or 30.0%, to $145.5 million from $111.9 million in the prior quarter, primarily as a result of $48.7 million in deposit growth, partially offset by loan growth of $23.7 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total loans increased by $23.7 million, or 1.0%, to $2.30 billion, from $2.27 billion in the prior quarter. Moderate growth was seen across most segments, and was led by increases of $8.5 million, or 1.6%, in commercial real estate loans and $8.5 million, or 1.7%, in condominium association loans.

oLoan exposure related to non-medical office space at December 31, 2025 was $89.3 million or 3.9% of gross loans. When excluding owner-occupied, total non-medical office exposure was $71.4 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Deposits increased by $48.7 million, or 2.3%, to $2.13 billion from $2.08 billion in the prior quarter, driven primarily by growth within the wholesale payments business. NOW accounts grew $62.3 million, non-interest-bearing demand accounts increased $17.0 million and savings accounts were also up $8.4 million. This growth was offset by decreases in money market accounts of $28.0 million and certificates of deposits of $10.9 million.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total shareholders' equity increased by $7.0 million, or 1.9%, to $379.0 million from $372.0 million in the prior quarter, primarily the result of net income of $5.3 million and a $1.6 million increase in accumulated other comprehensive income.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Shareholders' equity to total assets was 13.36% as of December 31, 2025, compared to 13.35% at the prior quarter-end. Tangible shareholders' equity to tangible assets (non-GAAP) was 12.99% compared to 12.98% for these respective dates.

Total assets at December 31, 2025 increased $180.6 million, or 6.8% from December 31, 2024.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total loans increased $100.3 million, or 4.6%, from $2.20 billion at December 31, 2024. Growth was seen across most segments, and was led by increases of $50.7 million, or 10.5%, in commercial real estate loans and $20.8 million, or 24.8%, in multi-family loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Deposits increased by $61.5 million, or 3.0%, from $2.07 billion at December 31, 2024, driven primarily by growth within the wholesale payments business.

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**NET INTEREST INCOME**

Net interest income was $23.6 million for the quarter ended December 31, 2025, compared to $23.4 million for the prior quarter, an increase of $177 thousand, or 0.8%. The net interest margin expanded 11 basis points to 3.54% for the quarter from 3.43% in the prior quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The yield on interest-earning assets increased by 9 basis points to 5.06% as reinvestment of cash flow of fixed rate loans continue to reprice upward.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The cost of deposits increased by 2 basis points to 1.35% from 1.33% in the prior quarter as the previous quarter benefited from low-cost deposits associated with funds held at the Bank related to the subscription offering.

Net interest income was $86.5 million for the year ended December 31, 2025, compared to $73.3 million for the year ended December 31, 2024, an increase of $13.2 million, or 18.1%. The net interest margin expanded 37 basis points to 3.29% for the year ended December 31, 2025, from 2.92% for the year ended December 31, 2024.

**NON-INTEREST INCOME**

Noninterest income was $3.7 million for the quarter ended December 31, 2025, compared to $4.5 million for the prior quarter, representing a decrease of $810 thousand, or 17.9%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Net loss on sale of securities available for sale was $218 thousand from the disposal of $1.3 million in low performing investments.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Payment processing income was $1.7 million, compared to $1.9 million for the prior quarter, representing a decrease of $137 thousand due to lower activity.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Other non-interest income was $528 thousand, compared to $999 thousand in the prior quarter, representing a decrease of $471 thousand. The decrease was related to a $128 thousand write-down of our mortgage servicing asset as well as a $221 thousand loss on the disposition of fixed assets.

Noninterest income was flat at $17.0 million for the years ended December 31, 2025 and 2024 as lower mortgage banking income was offset by lower loss on sales of available for sale and equity securities.

**NON-INTEREST EXPENSE**

Noninterest expense was $18.4 million for the quarter ended December 31, 2025, compared to $28.4 million for the prior quarter, representing a decrease of $10.0 million, or 35.3%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Data processing expense increased $1.0 million to $3.3 million, which was primarily the result of an increase of $460 thousand in core processing due to favorable billing adjustments in the prior quarter as well as an increase of $263 thousand in software licensing expense related to the Company's continued investment in technology.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Deposit insurance expense decreased to $217 thousand from $651 thousand, which was the result of a favorable adjustment to the accrual of FDIC expense and related to an increase in the Bank's total capital levels.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Other general and administrative expenses decreased $9.9 million to $1.8 million, primarily due to the $10.0 million contribution to the Avidia Bank Charitable Foundation, Inc, in the prior quarter.

Noninterest expense was $87.8 million for the year ended December 31, 2025, compared to $73.1 million for the year ended December 31, 2024, representing an increase of $14.7 million, or 20.1%.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Other general and administrative expenses increased $8.8 million to $17.5 million, primarily due to the $10.0 million contribution to the Avidia Bank Charitable Foundation, Inc, during 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Salaries and benefits increased $5.0 million primarily due to $1.1 million in termination costs associated with the bank's long term incentive plan, $1.1 million in costs associated with the installation of the bank's employee stock ownership plan and $1.3 million of an increase in salaries.

**INCOME TAXES**

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Income tax expense for the quarter ended December 31, 2025, was $2.4 million, compared to an income tax benefit of $1.0 million in the prior quarter. Income tax benefit for the year ended December 31, 2025, was $2.4 million, compared to an income tax expense of $3.9 million for the year ended December 31, 2024.

**ASSET QUALITY**

The allowance for credit losses was $22.0 million as of December 31, 2025, or 0.96% of total loans, compared to $24.3 million, or 1.07% of total loans at September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Company recorded provisions for credit losses on loans of $1.4 million in the fourth quarter.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The Company recorded net charge-offs of $3.7 million, or 0.65% annualized during the quarter ended December 31, 2025, compared to 0.11% in the quarter ended September 30, 2025 as the Company deemed balances on previously recorded non-performing loans as uncollectable.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Non-performing loans totaled $20.2 million as of December 31, 2025, an increase of $2.6 million from the quarter ended September 30, 2025, primarily due to an increase of $6.1 million in non-performing commercial real estate loans, offset by the decrease of $1.4 million non-performing commercial loans and another $2.5 million decrease in non-performing construction loans.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•Total non-accrual loans to total loans was 0.88% as of December 31, 2025, compared to 0.77% as of September 30, 2025.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;•The collateral for a $25.0 million land loan for the development of a life sciences facility that was charged down by $16.7 million in the first quarter of 2025 was sold at foreclosure auction in January 2026. Though the sale has yet to close, the Company used the sale price to record an additional charge-off of $2.5 million in the fourth quarter. A specific reserve had been established in the third quarter so the impact on the provision for credit losses was reduced.

**ABOUT AVIDIA BANCORP, INC.**

Avidia Bancorp, Inc. is the bank holding company of Avidia Bank. Avidia Bank is a Massachusetts-chartered stock savings bank. With headquarters in Hudson, Massachusetts, it also operates nine full-service banking offices in western Middlesex County and eastern Worcester County, in Massachusetts.

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**NON-GAAP FINANCIAL MEASURES** 

This document contains certain non-GAAP financial measures in addition to results presented in accordance with U.S. Generally Accepted Accounting Principles ("GAAP"). These non-GAAP measures are intended to provide the reader with additional supplemental perspectives on operating results, performance trends, and financial condition. Non-GAAP financial measures are not a substitute for GAAP measures; they should be read and used in conjunction with the Company's GAAP financial information. A reconciliation of non-GAAP financial measures to GAAP measures is provided at the end of this document. In all cases, it should be understood that non-GAAP measures do not depict amounts that accrue directly to the benefit of shareholders. An item which management excludes when computing non-GAAP operating earnings can be of substantial importance to the Company's results for any particular quarter or year. The Company's non-GAAP operating earnings information set forth is not necessarily comparable to non- GAAP information which may be presented by other companies. Each non-GAAP measure used by the Company in this document as supplemental financial data should be considered in conjunction with the Company's GAAP financial information. The Company adjusts certain equity related measures to exclude intangible assets due to the importance of these measures to the investment community.

**FORWARD-LOOKING STATEMENTS**<br> Statements contained in this press release that are not historical facts are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and are intended to be covered by the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. You can identify forward-looking statements by use of the words "believe," "expect," "anticipate," "intend," "estimate," "assume," "outlook," "will," "should," and other similar expressions which do not relate to historical matters. Although we believe that these forward-looking statements are based on reasonable estimates and assumptions, they are not guarantees of future performance. You should not place undue reliance on forward-looking statements because they are subject to significant risks, uncertainties and other factors which are, in some cases, beyond our control. Our actual results could differ materially from those presented in the forward-looking statements as a result of, among other factors, changes in general business and economic conditions nationwide and in our local markets, including changes which adversely affect borrowers' ability to service and repay loans; changes in customer behavior due to political, business and economic conditions, including inflation; conditions in the capital and debt markets; reductions in net interest income resulting from interest rate volatility and changes in the balances and mix of our loans and deposits; changes in market interest rates and real estate values; decreases in the value of securities and other assets or in deposit levels necessitating increased borrowing to fund loans and investments; competition from other financial institutions; changes in legislation or regulation and accounting principles, policies and guidelines; cybersecurity incidents; fraud; natural disasters; the risk that we may be unsuccessful in implementing our business strategy; and the other risks and uncertainties disclosed in Avidia Bancorp, Inc.'s definitive prospectus dated May 13, 2025, as filed the U.S. Securities and Exchange Commission. Forward looking statements speak only as of the date of this release, and we do not undertake any obligation to update or revise any of them to reflect events or circumstances occurring after the date of this release or to reflect the occurrence of unanticipated events, except as may be required by applicable law or regulation.

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| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** |
| **Selected Consolidated Financial Highlights (Unaudited)** | **Selected Consolidated Financial Highlights (Unaudited)** | **Selected Consolidated Financial Highlights (Unaudited)** | **Selected Consolidated Financial Highlights (Unaudited)** | **Selected Consolidated Financial Highlights (Unaudited)** | **Selected Consolidated Financial Highlights (Unaudited)** |
|  | **At or for the Quarters Ended** | **At or for the Quarters Ended** | **At or for the Quarters Ended** | **At or for the Years Ended** | **At or for the Years Ended** |
| *(Dollars in thousands, except per share data)* | **Dec. 31, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Dec. 31, 2025** | **Dec. 31, 2024** |
| **Earnings Data:** |  |  |  |  |  |
| Net interest income | $23609 | $23432 | $19082 | $86541 | $73260 |
| Total non-interest income | 3716 | 4526 | 3159 | 17024 | 17019 |
| Total non-interest expense | 18361 | 28369 | 18139 | 87805 | 73097 |
| Provision for credit losses | 1217 | 1540 | (686) | 21443 | 1779 |
| Income (loss) before income tax expense | 7747 | (1951) | 4788 | (5683) | 15403 |
| Net income (loss) | 5333 | (907) | 3509 | (3289) | 11484 |
| **Per-Share Data:** |  |  |  |  |  |
| Earnings (loss) per share, basic | $0.29 | $(0.05) | N/A | $(0.18) | N/A |
| Earnings (loss) per share, diluted | 0.29 | (0.05) | N/A | $(0.18) | N/A |
| Book value per share | 18.88 | 18.53 | N/A | 18.88 | N/A |
| Tangible book value per share (non-GAAP) | 18.28 | 17.94 | N/A | 18.28 | N/A |
| **Performance Ratios:** |  |  |  |  |  |
| Return on average assets (annualized) | 0.77% | -0.13% | 0.53% | -0.12% | 0.44% |
| Return on average equity (annualized) | 5.66 | -1.14 | 8.07 | -1.22 | 6.18 |
| Net interest margin<sup>(1)</sup> | 3.54 | 3.43 | 3.00 | 3.29 | 2.92 |
| Cost of deposits | 1.35 | 1.33 | 1.62 | 1.40 | 1.63 |
| Yield on loans | 5.34 | 5.21 | 5.14 | 5.23 | 5.15 |
| Interest rate spread <sup>(2)</sup> | 3.04 | 3.02 | 2.48 | 2.85 | 2.41 |
| Noninterest income as a percentage of average assets | 0.54 | 0.64 | 0.48 | 0.62 | 0.65 |
| Noninterest expense as a percentage of average assets | 2.66 | 4.02 | 2.75 | 3.20 | 2.78 |
| Efficiency ratio<sup>(3)</sup> | 67.19 | 101.47 | 81.56 | 84.78 | 80.97 |
| Average interest-earning assets as a percentage of average interest-bearing liabilities | 132.56 | 127.08 | 126.46 | 126.47 | 125.24 |
| **Balance Sheet, (end of period):** |  |  |  |  |  |
| Total assets | $2837090 | $2787010 | $2656539 | $2837090 | $2656539 |
| Total earning assets | 2722357 | 2669662 | 2543243 | 2722357 | 2543243 |
| Total loans | 2298466 | 2274747 | 2198200 | 2298466 | 2198200 |
| Total deposits | 2128283 | 2079578 | 2066832 | 2128283 | 2066832 |
| Total shareholders' equity | 378994 | 372037 | 193827 | 378994 | 193827 |
| **Asset Quality:** |  |  |  |  |  |
| Allowance for credit losses | $22018 | $24284 | $21741 | $22018 | $21741 |
| Allowance for credit losses as a percentage of total loans | 0.96% | 1.07% | 0.99% | 0.96 | 0.99 |
| Allowance for credit losses as a percentage of non-performing loans | 109.03 | 137.79 | 543.93 | 109.03 | 543.93 |
| Allowance for credit losses as a percentage of non-accrual loans | 109.03 | 137.79 | 543.93 | 109.03 | 543.93 |
| Non-accrual loans as a percentage of total loans | 0.88 | 0.77 | 0.18 | 0.88 | 0.18 |
| Net (charge-offs) recoveries as a percentage of average loans (annualized) | (0.65) | (0.11) | 0.00 | (0.96) | (0.05) |
| Total non-accruing assets as a percentage of total assets | 0.71 | 0.63 | 0.15 | 0.71 | 0.15 |
| Total non-performing assets as a percentage of total assets | 0.71 | 0.63 | 0.15 | 0.71 | 0.15 |
| **Capital Ratios:** |  |  |  |  |  |
| Total shareholders' equity as a percentage of total assets | 13.36% | 13.35% | 7.30% | 13.36% | 7.30% |
| Tangible shareholders' equity as a percentage of tangible assets (non-GAAP) | 12.99 | 12.98 | 6.88 | 12.99 | 6.88 |
| Total capital as a percentage of risk-weighted assets <sup>(4)</sup> | 19.66 | 19.89 | 12.24 | 19.66 | 12.24 |
| Tier 1 capital as a percentage of risk-weighted assets <sup>(4)</sup> | 17.35 | 17.42 | 9.83 | 17.35 | 9.83 |
| Common equity tier 1 capital as a percentage of risk-weighted assets <sup>(4)</sup> | 17.35 | 17.42 | 9.83 | 17.35 | 9.83 |
| Tier 1 capital as a percentage of average assets <sup>(4)</sup> | 13.84 | 13.11 | 8.72 | 13.84 | 8.72 |
| (1) Represents net interest income as a percentage of average interest-earning assets. | (1) Represents net interest income as a percentage of average interest-earning assets. | (1) Represents net interest income as a percentage of average interest-earning assets. | (1) Represents net interest income as a percentage of average interest-earning assets. | (1) Represents net interest income as a percentage of average interest-earning assets. | (1) Represents net interest income as a percentage of average interest-earning assets. |
| (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. | (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. | (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. | (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. | (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. | (2) Represents the difference between the weighted average yield on interest-earning assets and the weighted average cost of interest-bearing liabilities. |
| (3) Represents noninterest expenses divided by the sum of net interest income and noninterest income. | (3) Represents noninterest expenses divided by the sum of net interest income and noninterest income. | (3) Represents noninterest expenses divided by the sum of net interest income and noninterest income. | (3) Represents noninterest expenses divided by the sum of net interest income and noninterest income. | (3) Represents noninterest expenses divided by the sum of net interest income and noninterest income. | (3) Represents noninterest expenses divided by the sum of net interest income and noninterest income. |
| (4) Presented as projected for December 31, 2025 and actual for the remaining dates. | (4) Presented as projected for December 31, 2025 and actual for the remaining dates. | (4) Presented as projected for December 31, 2025 and actual for the remaining dates. | (4) Presented as projected for December 31, 2025 and actual for the remaining dates. | (4) Presented as projected for December 31, 2025 and actual for the remaining dates. | (4) Presented as projected for December 31, 2025 and actual for the remaining dates. |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** |
| **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** | **Consolidated Balance Sheets (Unaudited)** |
|  | **As of** | **As of** | **As of** | **Dec. 31, 2025 Change From** | **Dec. 31, 2025 Change From** | **Dec. 31, 2025 Change From** | **Dec. 31, 2025 Change From** |
| *(Dollars in thousands)* | **Dec. 31, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Sept. 30, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Dec. 31, 2024** |
| **Assets** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Cash and due from banks | $15903 | $15484 | $15660 | $419 | 2.7% | $243 | 1.6% |
| &nbsp;&nbsp;Short-term investments | 129551 | 96384 | 46784 | 33167 | 34.4 | 82767 | 176.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Total cash and cash equivalents | 145454 | 111868 | 62444 | 33586 | 30.0 | 83010 | 132.9 |
| &nbsp;&nbsp;Securities available for sale, at fair value | 269139 | 269308 | 265933 | (169) | (0.1) | 3206 | 1.2 |
| &nbsp;&nbsp;Securities held to maturity, at amortized cost | 13000 | 15747 | 16747 | (2747) | (17.4) | (3747) | (22.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Total securities | 282139 | 285055 | 282680 | (2916) | (1.0) | (541) | (0.2) |
| &nbsp;&nbsp;Federal Home Loan Bank stock, at cost | 11801 | 11731 | 14729 | 70 | 0.6 | (2928) | (19.9) |
| &nbsp;&nbsp;Loans held for sale | 400 | 1745 | 850 | (1345) | (77.1) | (450) | (52.9) |
| &nbsp;&nbsp;Total loans | 2298466 | 2274747 | 2198200 | 23719 | 1.0 | 100266 | 4.6 |
| &nbsp;&nbsp;Less: Allowance for credit losses | (22018) | (24284) | (21741) | 2266 | (9.3) | (277) | 1.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Net loans | 2276448 | 2250463 | 2176459 | 25985 | 1.2 | 99989 | 4.6 |
| &nbsp;&nbsp;Premises and equipment, net | 29183 | 29270 | 28498 | (87) | (0.3) | 685 | 2.4 |
| &nbsp;&nbsp;Bank-owned life insurance | 36660 | 36375 | 35526 | 285 | 0.8 | 1134 | 3.2 |
| &nbsp;&nbsp;Accrued interest receivable | 8537 | 8141 | 8897 | 396 | 4.9 | (360) | (4.0) |
| &nbsp;&nbsp;Net deferred tax asset | 10372 | 10832 | 12795 | (460) | (4.2) | (2423) | (18.9) |
| &nbsp;&nbsp;Goodwill | 11936 | 11936 | 11936 | - | - | - | - |
| &nbsp;&nbsp;Mortgage servicing rights | 3033 | 3149 | 3488 | (116) | (3.7) | (455) | (13.0) |
| &nbsp;&nbsp;Other assets | 21127 | 26445 | 18237 | (5318) | (20.1) | 2890 | 15.8 |
| **Total assets** | $2837090 | $2787010 | $2656539 | $50080 | 1.8% | $180551 | 6.8% |
| **Liabilities** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Deposits | $2128283 | $2079578 | $2066832 | $48705 | 2.3% | $61451 | 3.0% |
| &nbsp;&nbsp;Federal Home Loan Bank advances | 260000 | 260000 | 325000 | - | - | (65000) | (20.0) |
| &nbsp;&nbsp;Subordinated debt | 27815 | 27778 | 27679 | 37 | 0.1 | 136 | 0.5 |
| &nbsp;&nbsp;Accrued expenses and other liabilities | 41998 | 47617 | 43201 | (5619) | (11.8) | (1203) | (2.8) |
| **Total liabilities** | $2458096 | $2414973 | $2462712 | $43123 | 1.8% | $(4616) | (0.2)% |
| **Shareholders' equity:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;Common Stock | $201 | $201 | $- | $- | -% | $201 | -% |
| &nbsp;&nbsp;Additional paid-in capital | 194899 | 195029 | - | (130) | (0.1) | 194899 | - |
| &nbsp;&nbsp;Unallocated ESOP common stock | (15258) | (15459) | - | 201 | (1.3) | (15258) | - |
| &nbsp;&nbsp;Retained earnings | 211981 | 206648 | 215270 | 5333 | 2.6 | (3289) | (1.5) |
| &nbsp;&nbsp;Accumulated other comprehensive loss | (12829) | (14382) | (21443) | 1553 | (10.8) | 8614 | (40.2) |
| **Total shareholders' equity** | $378994 | $372037 | $193827 | $6957 | 1.9% | $185167 | 95.5% |
| **Total liabilities and shareholders' equity** | $2837090 | $2787010 | $2656539 | $50080 | 1.8% | $180551 | 6.8% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** |
| **Consolidated Loan and Deposit Analysis (Unaudited)** | **Consolidated Loan and Deposit Analysis (Unaudited)** | **Consolidated Loan and Deposit Analysis (Unaudited)** | **Consolidated Loan and Deposit Analysis (Unaudited)** | **Consolidated Loan and Deposit Analysis (Unaudited)** | **Consolidated Loan and Deposit Analysis (Unaudited)** | **Consolidated Loan and Deposit Analysis (Unaudited)** | **Consolidated Loan and Deposit Analysis (Unaudited)** |
| **<u>Loan Analysis</u>** | **<u>Loan Analysis</u>** | **<u>Loan Analysis</u>** | **<u>Loan Analysis</u>** | **<u>Loan Analysis</u>** | **<u>Loan Analysis</u>** | **<u>Loan Analysis</u>** | **<u>Loan Analysis</u>** |
|  | **At or for the Quarters Ended** | **At or for the Quarters Ended** | **At or for the Quarters Ended** | **Dec. 31, 2025 Change From** | **Dec. 31, 2025 Change From** | **Dec. 31, 2025 Change From** | **Dec. 31, 2025 Change From** |
| *(Dollars in thousands)* | **Dec. 31, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Sept. 30, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Dec. 31, 2024** |
| **Real estate loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Home equity and second mortgages | $78350 | $76027 | $66326 | $2323 | 3.1% | $12024 | 18.1% |
| &nbsp;&nbsp;&nbsp;&nbsp;One to four family residential | 518225 | 521606 | 511495 | (3381) | (0.6) | 6730 | 1.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 534855 | 526345 | 484106 | 8510 | 1.6 | 50749 | 10.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate multi-family | 104695 | 98647 | 83905 | 6048 | 6.1 | 20790 | 24.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction & land | 57005 | 51311 | 49028 | 5694 | 11.1 | 7977 | 16.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total real estate loans | 1293130 | 1273936 | 1194860 | 19194 | 1.5 | 98270 | 8.2 |
| **Commercial loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial & industrial | 491765 | 495263 | 499920 | (3498) | (0.7) | (8155) | (1.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Condominium associations | 506683 | 498164 | 494875 | 8519 | 1.7 | 11808 | 2.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;PPP loans | 11 | 40 | 264 | (29) | (72.5) | (253) | (95.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total commercial loans | 998459 | 993467 | 995059 | 4992 | 0.5 | 3400 | 0.3 |
| **Consumer loans** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | 3877 | 4274 | 5060 | (397) | (9.3) | (1183) | (23.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total consumer loans | 3877 | 4274 | 5060 | (397) | (9.3) | (1183) | (23.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total loans | 2295466 | 2271677 | 2194979 | 23789 | 1.0 | 100487 | 4.6 |
| Allowance for credit losses | (22018) | (24284) | (21741) | 2266 | (9.3) | (277) | 1.3 |
| Net deferred loan costs | 3000 | 3070 | 3221 | (70) | (2.3) | (221) | (6.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Loans, net** | $2276448 | $2250463 | $2176459 | $25985 | 1.2% | $99989 | 4.6% |
| **<u>Deposit Analysis</u>** | **<u>Deposit Analysis</u>** | **<u>Deposit Analysis</u>** | **<u>Deposit Analysis</u>** | **<u>Deposit Analysis</u>** | **<u>Deposit Analysis</u>** | **<u>Deposit Analysis</u>** | **<u>Deposit Analysis</u>** |
|  | **At or for the Quarters Ended** | **At or for the Quarters Ended** | **At or for the Quarters Ended** | **Dec. 31, 2025 Change From** | **Dec. 31, 2025 Change From** | **Dec. 31, 2025 Change From** | **Dec. 31, 2025 Change From** |
| *(Dollars in thousands)* | **Dec. 31, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Sept. 30, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Dec. 31, 2024** |
| Demand | $359819 | $342867 | $355087 | $16952 | 4.9% | $4732 | 1.3% |
| NOW | 770350 | 708096 | 683548 | 62254 | 8.8 | 86802 | 12.7 |
| Money market | 250062 | 278095 | 250878 | (28033) | (10.1) | (816) | (0.3) |
| Savings | 425400 | 417010 | 386759 | 8390 | 2.0 | 38641 | 10.0 |
| Certificates of deposits | 322652 | 333510 | 390560 | (10858) | (3.3) | (67908) | (17.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**Total deposits** | $2128283 | $2079578 | $2066832 | $48705 | 2.3% | $61451 | 3.0% |

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| | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|
| **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** |
| **Consolidated Statements of Operations QTD (Unaudited)** | **Consolidated Statements of Operations QTD (Unaudited)** | **Consolidated Statements of Operations QTD (Unaudited)** | **Consolidated Statements of Operations QTD (Unaudited)** | **Consolidated Statements of Operations QTD (Unaudited)** | **Consolidated Statements of Operations QTD (Unaudited)** | **Consolidated Statements of Operations QTD (Unaudited)** | **Consolidated Statements of Operations QTD (Unaudited)** |
|  |  |  |  | **Three Months Ended Dec. 31, 2025 Change** | **Three Months Ended Dec. 31, 2025 Change** | **Three Months Ended Dec. 31, 2025 Change** | **Three Months Ended Dec. 31, 2025 Change** |
|  | **Three Months Ended** | **Three Months Ended** | **Three Months Ended** | **From Three Months Ended** | **From Three Months Ended** | **From Three Months Ended** | **From Three Months Ended** |
| *(Dollars in thousands, except per share data)* | **Dec. 31, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Sept. 30, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Dec. 31, 2024** |
| **Interest and dividend income:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, including fees | $30716 | $29727 | $28347 | $989 | 3.3% | $2369 | 8.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities | 2530 | 2567 | 2624 | (37) | (1.4) | (94) | (3.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 512 | 1588 | 495 | (1076) | (67.8) | 17 | 3.4 |
| **Total interest and dividend income** | 33758 | 33882 | 31466 | (124) | (0.4) | 2292 | 7.3 |
| **Interest expense:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 6948 | 7268 | 8266 | (320) | (4.4) | (1318) | (15.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances | 2849 | 2827 | 3803 | 22 | 0.8 | (954) | (25.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt | 352 | 355 | 315 | (3) | (0.8) | 37 | 11.7 |
| **Total interest expense** | 10149 | 10450 | 12384 | (301) | (2.9) | (2235) | (18.0) |
| **Net interest income:** | 23609 | 23432 | 19082 | 177 | 0.8 | 4527 | 23.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision expense for credit losses - loans | 1440 | 1480 | 138 | (40) | (2.7) | 1302 | 943.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision expense (reversal) for credit losses - off-balance sheet credit exposures | (223) | 60 | (824) | (283) | (471.7) | 601 | (72.9) |
| **Net interest income, after provision expense for credit losses** | 22392 | 21892 | 19768 | 500 | 2.3 | 2624 | 13.3 |
| **Non-interest income:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Customer service fees | 918 | 912 | 922 | 6 | 0.7 | (4) | (0.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (loss) on sale of securities available for sale | (218) | - | (1876) | (218) | 100.0 | 1658 | (88.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net recognized gain on equity securities | - | - | 64 | - | - | (64) | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment processing income | 1720 | 1857 | 1900 | (137) | (7.4) | (180) | (9.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income on bank-owned life insurance | 285 | 279 | 257 | 6 | 2.2 | 28 | 10.9 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking income | 103 | 121 | 589 | (18) | (14.9) | (486) | (82.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment commissions | 380 | 358 | 357 | 22 | 6.1 | 23 | 6.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 528 | 999 | 946 | (471) | (47.1) | (418) | (44.2) |
| **Total non-interest income** | 3716 | 4526 | 3159 | (810) | (17.9) | 557 | 17.6 |
| **Non-interest expense:** |  |  |  |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and employee benefits | 9476 | 9773 | 9221 | (297) | (3.0) | 255 | 2.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment | 1658 | 1933 | 1941 | (275) | (14.2) | (283) | (14.6) |
| &nbsp;&nbsp;&nbsp;&nbsp;Data processing | 3251 | 2251 | 2834 | 1000 | 44.4 | 417 | 14.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Professional fees | 818 | 790 | 468 | 28 | 3.5 | 350 | 74.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment processing | 363 | 526 | 1165 | (163) | (31.0) | (802) | (68.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposit insurance | 217 | 651 | 447 | (434) | (66.7) | (230) | (51.5) |
| &nbsp;&nbsp;&nbsp;&nbsp;Advertising | 408 | 423 | 310 | (15) | (3.5) | 98 | 31.6 |
| &nbsp;&nbsp;&nbsp;&nbsp;Telecommunications | 91 | 81 | 93 | 10 | 12.3 | (2) | (2.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Problem loan and foreclosed real estate, net | 245 | 179 | 60 | 66 | 36.9 | 185 | 308.3 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other general and administrative | 1834 | 11762 | 1600 | (9928) | (84.4) | 234 | 14.6 |
| **Total non-interest expense** | 18361 | 28369 | 18139 | (10008) | (35.3) | 222 | 1.2 |
| **Income (loss) before income tax expense** | 7747 | (1951) | 4788 | 9698 | (497.1) | 2959 | 61.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax expense (benefit) | 2414 | (1044) | 1279 | 3458 | (331.2) | 1135 | 88.7 |
| **Net income (loss)** | $5333 | $(907) | $3509 | $6240 | (688.0)% | $1824 | 52.0% |
| **Share data:** |  |  |  |  |  |  |  |
| Weighted average common shares outstanding, basic | 18537 | 18520 | N/A | 17 | 0.1% | N/A | N/A |
| Weighted average common shares outstanding diluted | 18537 | 18520 | N/A | 17 | 0.1 | N/A | N/A |
| Earnings (loss) per share, basic | $0.29 | $(0.05) | N/A | $0.34 | (687.5) | N/A | N/A |
| Earnings (loss) per share, diluted | $0.29 | $(0.05) | N/A | $0.34 | (687.5) | N/A | N/A |

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| | | | | |
|:---|:---|:---|:---|:---|
| **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** |
| **Consolidated Statements of Operations YTD (Unaudited)** | **Consolidated Statements of Operations YTD (Unaudited)** | **Consolidated Statements of Operations YTD (Unaudited)** | **Consolidated Statements of Operations YTD (Unaudited)** | **Consolidated Statements of Operations YTD (Unaudited)** |
|  | **Years Ended** | **Years Ended** | **Year Ended Dec. 31, 2025 Change** | **Year Ended Dec. 31, 2025 Change** |
| *(Dollars in thousands, except per share data)* | **Dec. 31, 2025** | **Dec. 31, 2024** | **From Year Ended Dec. 31, 2024** | **From Year Ended Dec. 31, 2024** |
| **Interest and dividend income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Loans, including fees | $117542 | $111536 | $6006 | 5.4% |
| &nbsp;&nbsp;&nbsp;&nbsp;Securities | 10304 | 10249 | 55 | 0.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 2736 | 1948 | 788 | 40.5 |
| **Total interest and dividend income** | 130582 | 123733 | 6849 | 5.5 |
| **Interest expense:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposits | 29552 | 32870 | (3318) | (10.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Federal Home Loan Bank advances | 13116 | 16343 | (3227) | (19.7) |
| &nbsp;&nbsp;&nbsp;&nbsp;Subordinated debt | 1373 | 1260 | 113 | 9.0 |
| **Total interest expense** | 44041 | 50473 | (6432) | (12.7) |
| **Net interest income:** | 86541 | 73260 | 13281 | 18.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision expense for credit losses - loans | 21748 | 2103 | 19645 | 934.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Provision (reversal) for credit losses - off-balance sheet credit exposures | (305) | (324) | 19 | (5.9) |
| **Net interest income, after provision expense for credit losses** | 65098 | 71481 | (6383) | (8.9) |
| **Non-interest income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Customer service fees | 3570 | 3637 | (67) | (1.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net (loss) on sale of securities available for sale | (837) | (4234) | 3397 | (80.2) |
| &nbsp;&nbsp;&nbsp;&nbsp;Net recognized gain on equity securities | - | 2597 | (2597) | (100.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment processing income | 7849 | 7489 | 360 | 4.8 |
| &nbsp;&nbsp;&nbsp;&nbsp;Income on bank-owned life insurance | 1132 | 927 | 205 | 22.1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Mortgage banking income | 402 | 1568 | (1166) | (74.4) |
| &nbsp;&nbsp;&nbsp;&nbsp;Investment commissions | 1400 | 1393 | 7 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Other | 3508 | 3642 | (134) | (3.7) |
| **Total non-interest income** | 17024 | 17019 | 5 | 0.0 |
| **Non-interest expense:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Salaries and employee benefits | 39724 | 34721 | 5003 | 14.4 |
| &nbsp;&nbsp;&nbsp;&nbsp;Occupancy and equipment | 6342 | 8319 | (1977) | (23.8) |
| &nbsp;&nbsp;&nbsp;&nbsp;Data processing | 13183 | 10123 | 3060 | 30.2 |
| &nbsp;&nbsp;&nbsp;&nbsp;Professional fees | 3356 | 2288 | 1068 | 46.7 |
| &nbsp;&nbsp;&nbsp;&nbsp;Payment processing | 2863 | 4230 | (1367) | (32.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Deposit insurance | 2281 | 2481 | (200) | (8.1) |
| &nbsp;&nbsp;&nbsp;&nbsp;Advertising | 1427 | 1432 | (5) | (0.3) |
| &nbsp;&nbsp;&nbsp;&nbsp;Telecommunications | 360 | 383 | (23) | (6.0) |
| &nbsp;&nbsp;&nbsp;&nbsp;Problem loan and foreclosed real estate, net | 731 | 349 | 382 | 109.5 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other general and administrative | 17538 | 8771 | 8767 | 100.0 |
| **Total non-interest expense** | 87805 | 73097 | 14708 | 20.1 |
| **(Loss) income before income tax expense** | (5683) | 15403 | (21086) | (136.9) |
| &nbsp;&nbsp;&nbsp;&nbsp;Income tax (benefit) expense | (2394) | 3919 | (6313) | (161.1) |
| **Net (loss) income** | $(3289) | $11484 | $(14773) | (128.6)% |
| **Share data:** |  |  |  |  |
| Weighted average common shares outstanding, basic | 18531 | N/A | N/A | N/A |
| Weighted average common shares outstanding diluted | 18531 | N/A | N/A | N/A |
| (Loss) per share, basic | $(0.18) | N/A | N/A | N/A |
| (Loss) per share, diluted | $(0.18) | N/A | N/A | N/A |

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| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** |
| **Average Balances and Average Yields And Costs (Unaudited)** | **Average Balances and Average Yields And Costs (Unaudited)** | **Average Balances and Average Yields And Costs (Unaudited)** | **Average Balances and Average Yields And Costs (Unaudited)** | **Average Balances and Average Yields And Costs (Unaudited)** | **Average Balances and Average Yields And Costs (Unaudited)** | **Average Balances and Average Yields And Costs (Unaudited)** | **Average Balances and Average Yields And Costs (Unaudited)** | **Average Balances and Average Yields And Costs (Unaudited)** | **Average Balances and Average Yields And Costs (Unaudited)** |
|  | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** | **For the Quarters Ended** |
|  | **Dec. 31, 2025** | **Dec. 31, 2025** | **Dec. 31, 2025** | **Sept. 30, 2025** | **Sept. 30, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** | **Dec. 31, 2024** | **Dec. 31, 2024** |
| *(Dollars in thousands)* | **Average Outstanding Balance** | **Interest** | **Average Yield/Rate** | **Average Outstanding Balance** | **Interest** | **Average Yield/Rate** | **Average Outstanding Balance** | **Interest** | **Average Yield/Rate** |
| **Interest-earning assets:** |  |  |  |  |  |  |  |  |  |
| Short-term investments | $72847 | $512 | 2.79% | $150428 | $1588 | 4.19% | $54300 | $495 | 3.63% |
| Securities | 295120 | 2530 | 3.40 | 292031 | 2567 | 3.49 | 286897 | 2624 | 3.64 |
| Loans | 2280267 | 30716 | 5.34 | 2264095 | 29727 | 5.21 | 2192961 | 28347 | 5.14 |
| Total interest-earning assets | 2648234 | 33758 | 5.06 | 2706554 | 33882 | 4.97 | 2534158 | 31466 | 4.94 |
| Noninterest-earning assets | 107874 |  |  | 116574 |  |  | 106087 |  |  |
| Total assets | $2756108 |  |  | $2823128 |  |  | $2640245 |  |  |
| **Interest-bearing liabilities:** |  |  |  |  |  |  |  |  |  |
| NOW accounts | $684815 | $804 | 0.47% | $822525 | $833 | 0.40% | $583135 | $774 | 0.53% |
| Money market accounts | 277852 | 898 | 1.28 | 274203 | 918 | 1.33 | 269584 | 891 | 1.32 |
| Regular and other savings accounts | 419232 | 2278 | 2.16 | 411941 | 2407 | 2.32 | 367740 | 2176 | 2.35 |
| Certificates of deposit | 328333 | 2968 | 3.59 | 334638 | 3110 | 3.69 | 399508 | 4425 | 4.41 |
| Total interest-bearing deposits | 1710231 | 6948 | 1.61 | 1843307 | 7268 | 1.56 | 1619967 | 8266 | 2.03 |
| FHLB advances and other borrowings <sup>(1)</sup> | 259702 | 2849 | 4.35 | 258782 | 2827 | 4.33 | 356313 | 3803 | 4.25 |
| Subordinated debt | 27791 | 352 | 5.03 | 27753 | 355 | 5.07 | 27654 | 315 | 4.53 |
| Total interest-bearing liabilities | 1997724 | 10149 | 2.02 | 2129842 | 10450 | 1.95 | 2003934 | 12384 | 2.46 |
| Noninterest-bearing demand deposits | 349454 |  |  | 341083 |  |  | 422435 |  |  |
| Other noninterest-bearing liabilities | 32301 |  |  | 34777 |  |  | 39885 |  |  |
| Total liabilities | 2379478 |  |  | 2505702 |  |  | 2466254 |  |  |
| Total shareholders' equity | 376630 |  |  | 317426 |  |  | 173991 |  |  |
| Total liabilities and capital | $2756108 |  |  | $2823128 |  |  | $2640245 |  |  |
| Net interest income |  | $23609 |  |  | $23432 |  |  | $19082 |  |
| Net interest rate spread <sup>(2)</sup> |  |  | 3.04% |  |  | 3.02% |  |  | 2.48% |
| Net interest-earning assets <sup>(3)</sup> | $650510 |  |  | $576712 |  |  | $530224 |  |  |
| Net interest margin <sup>(4)</sup> |  |  | 3.54% |  |  | 3.43% |  |  | 3.00% |
| Cost of deposits |  |  | 1.35% |  |  | 1.33% |  |  | 1.62% |
| Average interest-earning assets to interest-bearing liabilities |  |  | 132.56% |  |  | 127.08% |  |  | 126.46% |
| (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. | (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. | (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. | (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. | (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. | (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. | (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. | (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. | (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. | (1) Average balances for borrowings includes the financing lease obligation which is presented under other liabilities on the consolidated balance sheet. |
| (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. | (2) Net interest rate spread represents the difference between the weighted average yield on interest-earning assets and the weighted average rate of interest-bearing liabilities. |
| (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. | (3) Net interest-earning assets represent total interest-earning assets less total interest-bearing liabilities. |
| (4) Net interest margin represents net interest income divided by average total interest-earning assets. | (4) Net interest margin represents net interest income divided by average total interest-earning assets. | (4) Net interest margin represents net interest income divided by average total interest-earning assets. | (4) Net interest margin represents net interest income divided by average total interest-earning assets. | (4) Net interest margin represents net interest income divided by average total interest-earning assets. | (4) Net interest margin represents net interest income divided by average total interest-earning assets. | (4) Net interest margin represents net interest income divided by average total interest-earning assets. | (4) Net interest margin represents net interest income divided by average total interest-earning assets. | (4) Net interest margin represents net interest income divided by average total interest-earning assets. | (4) Net interest margin represents net interest income divided by average total interest-earning assets. |

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| | | | |
|:---|:---|:---|:---|
| **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** |
| **Asset Quality Data (Unaudited)** | **Asset Quality Data (Unaudited)** | **Asset Quality Data (Unaudited)** | **Asset Quality Data (Unaudited)** |
|  | **At or for the Quarters Ended** | **At or for the Quarters Ended** | **At or for the Quarters Ended** |
| *(Dollars in thousands)* | **Dec. 31, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** |
| **Non-Performing Assets** |  |  |  |
| &nbsp;&nbsp;Non-accrual loans: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential | $720 | $387 | $1350 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction | 6478 | 8930 | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | 6126 | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | 6870 | 8307 | 2647 |
| &nbsp;&nbsp;Total non-accrual loans | $20194 | $17624 | $3997 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other real estate owned | - | - | - |
| &nbsp;&nbsp;Total non-performing assets | $20194 | $17624 | $3997 |
| &nbsp;&nbsp;Total non-accrual loans to total loans | 0.88% | 0.77% | 0.18% |
| &nbsp;&nbsp;Total non-performing assets to total loans | 0.88 | 0.77 | 0.18 |
| **Allowance for Credit Losses** |  |  |  |
| &nbsp;&nbsp;Allowance for credit losses, beginning of period | $24284 | $23425 | $21585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Charged-off loans | (3790) | (844) | (59) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Recoveries on charged-off loans | 84 | 223 | 77 |
| &nbsp;&nbsp;Net loan (charge-offs) recoveries | (3706) | (621) | 18 |
| &nbsp;&nbsp;Provision expense for credit losses | 1440 | 1480 | 138 |
| &nbsp;&nbsp;Allowance for credit losses, end of period | $22018 | $24284 | $21741 |
| &nbsp;&nbsp;Allowance for credit losses to total loans | 0.96% | 1.07% | 0.99% |
| &nbsp;&nbsp;Allowance for credit losses to non-accrual loans | 109.03 | 137.79 | 543.93 |
| &nbsp;&nbsp;Allowance for credit losses to non-performing loans | 109.03 | 137.79 | 543.93 |
| **Net loans (charge-offs) recoveries** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;Residential | $1 | $2 | $1 |
| &nbsp;&nbsp;&nbsp;&nbsp;Construction | (2454) | - | - |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial real estate | - | 135 | 25 |
| &nbsp;&nbsp;&nbsp;&nbsp;Commercial | (1260) | (766) | (15) |
| &nbsp;&nbsp;&nbsp;&nbsp;Consumer | 7 | 8 | 7 |
| &nbsp;&nbsp;Total net loan (charge-offs) recoveries | $(3706) | $(621) | $18 |
| &nbsp;&nbsp;Net loan (charge-offs) recoveries to average loans (annualized) | (0.65)% | (0.11)% | -% |

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| | | | |
|:---|:---|:---|:---|
| **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** | **Avidia Bancorp, Inc.** |
| **Non-GAAP Reconciliation (Unaudited)** | **Non-GAAP Reconciliation (Unaudited)** | **Non-GAAP Reconciliation (Unaudited)** | **Non-GAAP Reconciliation (Unaudited)** |
|  | **As of** | **As of** | **As of** |
| *(Dollars in thousands, except per share data)* | **Dec. 31, 2025** | **Sept. 30, 2025** | **Dec. 31, 2024** |
| **Tangible shareholders' equity:** |  |  |  |
| Total shareholders' equity (GAAP) | $378994 | $372037 | $193827 |
| Less: Goodwill | 11936 | 11936 | 11936 |
| Tangible shareholders' equity (non-GAAP) | $367058 | $360101 | $181891 |
| **Tangible assets:** |  |  |  |
| Total assets (GAAP) | $2837090 | $2787010 | $2656539 |
| Less: Goodwill | 11936 | 11936 | 11936 |
| Tangible assets (non-GAAP) | $2825154 | $2775074 | $2644603 |
| Shareholders' equity to assets (GAAP) | 13.36% | 13.35% | 7.30% |
| Tangible shareholders' equity to tangible assets (non-GAAP) | 12.99% | 12.98% | 6.88% |
| Common shares outstanding, including unallocated ESOP shares | 20076 | 20076 | N/A |
| Book value per common share (GAAP) | $18.88 | $18.53 | N/A |
| Tangible book value per common share (non-GAAP) | $18.28 | $17.94 | N/A |

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