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Stock impact report

Avidbank Holdings, Inc. Announces Net Income of $3,183,000 for the Second Quarter of 2019

AVIDBANK HOLDINGS INC (AVBH) 
NASDAQ:AMEX Investor Relations: avidbank.com
Company Research Source: Business Wire
SAN JOSE, Calif.--(BUSINESS WIRE)--Avidbank Holdings, Inc. ("the Company") (OTC Pink: AVBH), a bank holding company and the parent company of Avidbank ("the Bank"), an independent full-service commercial bank serving businesses and individuals primarily in Northern California, announced unaudited consolidated net income of $3,183,000 for the second quarter of 2019 compared to $2,666,000 for the same period in 2018.Year-to-Date and Second Quarter 2019 Financial HighlightsNet income was $6,356,000 in the first six months of 2019 compared to $4,773,000 in the first six months of 2018. Net income in the first six months of 2019 included a $1.2 million loan loss provision while net income in 2018 reflected no loan loss provision. Net interest incomewas $22,468,000 in the first six months of 2019,an increase of $4,933,000 or 28% over the figure recorded in the first six months of 2018.Diluted earnings per common share were $1.08 in the first six months of 2019, compared to $0.81 in the Show less Read more
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