Avidia Bank

Headquarters

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

Notable Rates APY Vs.Others
Savings N.A. 4.35% →
1-Year CD N.A. 5.00% →
2-Year CD N.A. 4.75% →
5-Year CD N.A. 4.55% →
30-Year Mortgage N.A. 0.00% →
15-Year Mortgage N.A. 0.00% →
HELOC N.A. 0.99% →

2023 Overview

General Bank Information

Avidia Bank is an FDIC insured institution located in Hudson, MA. It was founded in 1869 and has approximately $2.41 billion in assets. Customers can open an account at one of its 11 branches.

FDIC Insured Yes
FDIC Certificate # 90215
Date Established 1869
Assets $ 2.41 billion
Loans $ 1,676.26 million
Deposits $ 2.20 billion
Capital $ 183.65 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 - January 31, 2023

Your Current Location: Virginia, VA 20146

Checking Rates APY MIN FEE
eChecking 0.10% $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 - January 31, 2023

Your Current Location: Virginia, VA 20146

Home Equity Rates APR Rate Monthly Payment

Monthly payments for mortgage products are based on a loan amount of $200,000. Home equity monthly payments are based on a loan amount of $50,000. Auto loan monthly payments are based on a loan amount of $25,000. Rates for each product are based on a variety of factors including credit score and loan amount. For specific requirements please check with the lender. Rates may change at any time.

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:
Ashburn,Virginia


Avidia Bank Locations



Climate Initiatives

Avidia Bank is encouraged to provide us with this information. When we receive this information from the bank, we will provide it here.

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
2.32% 4.06%

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 June 30, 2022, Avidia Bank had $4,674,000 in non-current loans and $0 in owned real estate. To cover these potential losses it had $183,653,000 in equity and $17,878,000 in loans loss reserves. That gives it a Texas Ratio of 2.32%.

Return on Equity
Avidia Bank U.S. Bank Average
1.64% 9.98%

Avidia Bank has a Return on Equity of 1.64% versus the BestCashCow average of 9.98%. 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
7.61% 10.23%

Avidia Bank has a Capitalization of 7.61% versus the BestCashCow average of 10.23. 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 June 30, 2022, Avidia Bank had assets of $2,413,220,000, loans of $1,676,263,000, and deposits of $2,198,360,000. 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

June 30, 2022
ASSETS
Cash & Balances due from depository institutions $ 210.83 million
Interest-bearing balances $ 190.87 million
Total securities $ 407.73 million
Federal funds sold and reverse repurchase N.A.
Net loans and leases $ 1,676.26 million
Loan loss allowance $ 17.88 million
Trading account assets $ 4.11 million
Bank premises and fixed assets N.A.
Other real estate owned N.A.
Goodwill and other intangibles $ 15.92 million
All other assets $ 71.99 million
     Total Assets $ 2.23 billion
LIABILITIES
Total deposits $ 2.20 billion
      Interest-bearing deposits $ 1,760.43 million
      Deposits held in domestic offices $ 2.20 billion
      % insured (estimated) 69.53%
Federal funds purchased and repurchase agreements N.A.
Trading liabilities $ 4.11 million
Other borrowed funds N.A.
Subordinated debt N.A.
All other liabilities $ 27.10 million
      Total Liabilities $ 2.23 billion
      Shareholders’ Equity $ 183.65 million

Summary Income Statement

June 30, 2022
INCOME AND EXPENSES
Total Interest Income $ 38.99 million
Total Interest Expense $ 1.49 million
Net interest income $ 37.51 million
Provision for loan and lease losses $ 0.68 million
Total non interest income $ 10.43 million
Total non interest expense $ 38.07 million
Pre-tax Net Operating Income $ 9.19 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 27.63
Multifamily
Mortgages
2.87
Credit Card Loans 0.14
Consumer Auto Loans 0.09
Small Business Loans 7.86
Construction and Development Loans 5.22
Commercial Real Estate 25.82
Commercial and Industrial Loans 38.18
Farm Loans 0.00

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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