Avidia Bank

Headquarters

42 Main Street
Hudson, MA 01749
See all branch locations →

Notable Rates APY Vs.Others
Savings 0.10% 1.40% →
1-Year CD 0.60% 1.15% →
2-Year CD 0.80% 1.26% →
5-Year CD 1.01% 1.56% →
30-Year Mortgage N.A. 3.09% →
15-Year Mortgage N.A. 2.59% →
HELOC N.A. 2.77% →

2020 Overview

General Bank Information

Avidia Bank is an FDIC insured institution located in Hudson, MA. It was founded in 1869 and has approximately $1.8 billion in assets. Customers can open an account at one of its 11 branches.

FDIC Insured Yes
FDIC Certificate # 90215
Date Established 1869
Assets $ 1,798.92 million
Loans $ 1,255.94 million
Deposits $ 1,567.86 million
Capital $ 180.31 million
 

For a more detailed analysis of Avidia Bank's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - July 14, 2020

Your Current Location: Connecticut, CT 06828

Savings and Money Market Rates APY MIN MAX
Savings
0.10% $2,500 $4,999 Learn More
Money Market
0.35% $2,500 $2,999 Learn More
Money Market
0.35% $10,000 $14,999 Learn More
Money Market
0.35% $25,000 $29,999 Learn More
CD Rates APY MIN MAX
3 Mo CD
0.30% $10,000 $14,999 Learn More
3 Mo CD
0.30% $100,000 $199,999 Learn More
6 Mo CD
0.45% $10,000 $14,999 Learn More
6 Mo CD
0.45% $100,000 $199,999 Learn More
12 Mo CD
0.60% $10,000 $14,999 Learn More
12 Mo CD
0.60% $100,000 $199,999 Learn More
18 Mo CD
0.70% $10,000 $14,999 Learn More
18 Mo CD
0.70% $100,000 $199,999 Learn More
24 Mo CD
0.80% $10,000 $14,999 Learn More
24 Mo CD
0.80% $100,000 $199,999 Learn More
30 Mo CD
0.85% $10,000 $14,999 Learn More
30 Mo CD
0.85% $100,000 $199,999 Learn More
36 Mo CD
0.90% $10,000 $14,999 Learn More
36 Mo CD
0.90% $100,000 $199,999 Learn More
48 Mo CD
1.01% $10,000 $14,999 Learn More
48 Mo CD
1.01% $100,000 $199,999 Learn More
60 Mo CD
1.01% $10,000 $14,999 Learn More
60 Mo CD
1.01% $100,000 $199,999 Learn More

Int Checking Rates APY MIN MAX
Int Ckg
0.05% $1 $99 Learn MoreShow Less
Int Ckg
0.05% $2,500 $3,499 Learn MoreShow Less
Checking Rates APY MIN FEE
eChecking 0.40% $0 $0.00 Learn MoreShow Less
Smart Checking 0.00% $0 $0.00 Learn MoreShow Less
Value NOW Checking 0.00% $1,000 $5.00 Learn MoreShow Less

Loan Rates - July 14, 2020

Your Current Location: Connecticut, CT 06828

There are currently no loan rates available for Avidia Bank

Please contact the bank for questions about their loan products. In the meantime you may wish to consider these offerings:




Featured - Connecticut 30 Year Fixed Mortgage Rates 2020

Lender APR Rate (%) Points Fees Monthly
Payment
Learn More
Quicken Loans NMLS #3030
NMLS ID: 3030
3.620% 3.500% 1.00 $3,750 $1,123 Learn More
AimLoan.com
NMLS ID: 2890
License#: 13256
2.951% 2.875% 1.00 $2,445 $1,038 Learn More

Featured - Connecticut Home Equity Line Of Credit Rates 2020

Lender APR (%)? Monthly Payment? Learn More
Third Federal Savings and Loans
Third Federal Savings and Loans
2.990 %
$0 Learn More
More Info
People's United Bank, N.A.
People's United Bank, N.A.
4.000 %
$0 Learn More
More Info

Note to Avidia Bank
To upload and update your bank's rates please register. It is free to register and add rates.

Branches

Avidia Bank branches and locations in your neighborhood. Input a different zip code to find branches and locations for any neighborhood in the United States.

Your Location:
Fairfield,Connecticut


Avidia Bank Locations


Financial Details

Avidia Bank Ratio Analysis

The following ratios and data are available to help you better understand the financial condition of Avidia Bank. The data is provided by the FDIC. All banks listed on BestCashCow.com are FDIC-insured. No depositor has ever lost deposits that have been within the FDIC insurance limits.

Texas Ratio
Avidia Bank U.S. Bank Average
7.4% 6.94%

The Texas Ratio compares the bank’s non performing assets (non-performing loans and real estate owned) with its tangible common equity and its loan loss reserves. A lower Texas ratio indicates better coverage of problem loans. The closer the Texas Ratio is to 1-to-1 or 100%, the less capital and reserves a bank has to absorb its loan losses.

As of March 31, 2020, Avidia Bank had $14,221,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $180,308,000 in equity and $11,984,000 in loans loss reserves. That gives it a Texas Ratio of 7.4%.

Return on Equity
Avidia Bank U.S. Bank Average
-3.28% 7.80%

Avidia Bank has a Return on Equity of -3.28% versus the BestCashCow average of 7.80%. Return on equity measures how efficiently a bank is making money from its capital. A bank with a consistently high ROE can be considered well run. A bank with a consistently low ROE can be considered poorly run.

Capitalization
Avidia Bank U.S. Bank Average
10.02% 12.68%

Avidia Bank has a Capitalization of 10.02% versus the BestCashCow average of 12.68. Capitalization measures how much equity capital a bank has to underpin loans and other assets on its balance sheet. The higher the capitalization number the more secure a bank is considered.

Avidia Bank Balance Sheet Analysis

As of March 31, 2020, Avidia Bank had assets of $1,798,921,000, loans of $1,255,943,000, and deposits of $1,567,860,000. Long-term increases in deposits shows a bank's ability to raise funds to grow its loans and assets. Loan and asset growth may rise or fall depending on a bank's strategy for growth. Sharp rises and falls in assets, deposits, and loans can be problematic, indicating a loosening of lending standards, or financial distress leading to reduced lending. A big change in these figured can also be from a bank acquisition or merger.

Summary Balance Sheet

March 31, 2020
ASSETS
Cash & Balances due from depository institutions $ 157.63 million
Interest-bearing balances $ 147.05 million
Total securities $ 257.86 million
Federal funds sold and reverse repurchase $ 42.38 million
Net loans and leases $ 1,255.94 million
Loan loss allowance $ 11.98 million
Trading account assets N.A.
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 14.48 million
All other assets $ 50.79 million
     Total Assets $ 1,618.61 million
LIABILITIES
Total deposits $ 1,567.86 million
      Interest-bearing deposits $ 1,497.77 million
      Deposits held in domestic offices $ 1,567.86 million
      % insured (estimated) 74.58%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities N.A.
Other borrowed funds $ 30.00 million
Subordinated debt N.A.
All other liabilities $ 20.75 million
      Total Liabilities $ 1,618.61 million
      Shareholders’ Equity $ 180.31 million

Summary Income Statement

March 31, 2020
INCOME AND EXPENSES
Total Interest Income $ 17.57 million
Total Interest Expense $ 2.31 million
Net interest income $ 15.27 million
Provision for loan and lease losses $ 1.00 million
Total non interest income $ 3.60 million
Total non interest expense $ 15.39 million
Pre-tax Net Operating Income $ 2.47 million

Bank Loan Profile?

The top three loan types in Avidia Bank’s loan portfolio are Commercial and Industrial Loans, 1-4 Family Residential Loans, and Commercial Real Estate.

Compared to other banks in Massachusetts, Avidia Bank has a significantly higher percent of Credit Card Loans, Commercial and Industrial Loans on its balance sheet, potentially indicating a specialty in that lending area.

Note: Percentages may not sum to 100% due to rounding and double categorization of some loan types. All data from the FDIC. Additional information about this table.

%
Loans
%
Comparison to Other Banks
 Low   Med   High 
1-4 Family Residential Loans 32.42
Multifamily
Mortgages
2.32
Credit Card Loans 0.22
Consumer Auto Loans 0.26
Small Business Loans 0.00
Construction and Development Loans 3.35
Commercial Real Estate 27.33
Commercial and Industrial Loans 33.78
Farm Loans 0.00

Frequently Asked Questions About Avidia Bank

Branches and Savings

Is Avidia Bank FDIC insured?

Yes. It is covered under FDIC Certificate #90215.

Why does Avidia Bank pay such low interest on savings accounts?

See the best online savings rates here. See the best local savings rates here.

Why are Avidia Bank CD rates not competitive?

See the best online CD rates here. See the best local CD rates here.

Is Avidia Bank a commercial bank?

Yes

Where are Avidia Bank locations?

See branch locations nearby.

Is Avidia Bank open on Saturdays?

Is Avidia Bank open on Sundays?

What time does Avidia Bank open?

What time does Avidia Bank close?

Are Avidia Bank ATMs Open 24/7?

Do Avidia Bank ATMs accept cash deposits?

Can Avidia Bank customers use other ATMs?

Do Avidia Bank branches have notaries?

Will Avidia Bank notarize my document?

What address for Avidia Bank should I put for incoming ACH transfers?

Will the Avidia Bank branch print checks?

Do Avidia Bank checks expire?

Does Avidia Bank require US citizenship to open account?

Can Avidia Bank close my account?

Does Avidia Bank Report to credit bureaus?

Does Avidia Bank Use Equifax?

What is Avidia Bank's ACH Routing Number?

What is Avidia Bank's SWIFT code?

Products

Does Avidia Bank offer mortgages?

Compare mortgage rates here.

Does Avidia Bank offer home equity lines of credit and home equity loans?

Compare home equity lines of credit rates here.

Does Avidia Bank offer personal loans?

Compare personal loan rates here.

Does Avidia Bank offer student loans?

Will Avidia Bank cash a check?

Will Avidia Bank redeem a savings bond?

Does Avidia Bank cash savings bonds?

Will Avidia Bank cash money orders?

Can Avidia Bank issue a money order?

Does Avidia Bank do currency exchange?

Background on The Bank

Who owns Avidia Bank?

How long has Avidia Bank been around?

Can Avidia Bank transfer to other banks?

Does Avidia Bank have quick pay?

Does Avidia Bank accept rolled coins?

Will Avidia Bank accept loose change?

Where is Avidia Bank headquarters?

Customer Reviews for Avidia Bank


  • August 16, 2019 |

    Deceptive Sales Practices: Huge Penalties

    What an awakening! Without any clear statement, and nothing at all on its website, Avidia charged us 50% of the CD’s FULL TERM interest, including both paid and unpaid interest. We lost roughly 10% of the entire original deposit. Avidia's website doesn’t mention or discuss penalties at all. Looking more carefully at the CD certificate, we now see that carefully chosen trick words were used, without any warning or explanation, to enable this ripoff. The CD was for 5 years at 1.56%, not a good deal to begin with. Once the penalty of all 5 years of interest was applied, the effective rate for that CD, withdrawn 2 years from inception, was roughly negative 5%.

    Our preferred bank (obviously not Avidia) charges 50% of ONE year's interest as a penalty for early withdrawal of a CD. We had naively thought that was the norm, but obviously got snookered. The tricky words, appearing once on the actual certificate: "the term."

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