Avidia Bancorp Inc
For the period ended Mar 31, 2025. Filed Jun 27, 2025.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2025 · Filed Jun 27, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Table of Contents
Index
| Page | ||
|---|---|---|
| Part I. – Financial Information | ||
| Item 1. | Financial Statements | 1 |
| Consolidated Balance Sheets as of March 31, 2025 (unaudited) and December 31, 2024 | 1 | |
| Consolidated Statements of Operations for the Three Months Ended March 31, 2025 and 2024 (unaudited) | 2 | |
| Consolidated Statements of Comprehensive (Loss) Income for the Three Months Ended March 31, 2025 and 2024 (unaudited) | 3 | |
| Consolidated Statements of Changes in Capital for the Three Months Ended March 31, 2025 and 2024 (unaudited) | 4 | |
| Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024 (unaudited) | 5 | |
| Notes to Consolidated Financial Statements (unaudited) | 7 | |
| Item 2. | Management’s Discussion and Analysis of Financial Condition and Results of Operations | 40 |
| Item 3. | Quantitative and Qualitative Disclosures about Market Risk | 49 |
| Item 4. | Controls and Procedures | 49 |
| Part II. – Other Information | ||
| Item 1. | Legal Proceedings | 50 |
| Item 1A. | Risk Factors | 50 |
| Item 2. | Unregistered Sales of Equity Securities, Use of Proceeds, and Issuer Purchases of Equity Securities | 50 |
| Item 3. | Defaults Upon Senior Securities | 50 |
| Item 4. | Mine Safety Disclosures | 50 |
| Item 5. | Other Information | 50 |
| Item 6. | Exhibits | 51 |
| Signature Page | 52 | |
EXPLANATORY NOTE
Avidia Bancorp, Inc. (the “Company,” “we” or “us”) was incorporated on February 28, 2025, to serve as the bank holding company for Avidia Bank upon the consummation of the conversion of Assabet Valley Bancorp, the mutual holding company and sole stockholder of Avidia Bank, from the mutual form of organization to the stock form of organization. As of March 31, 2025, the conversion had not yet been completed and the Company had no assets or liabilities and had not conducted any business activities other than organizational activities. Accordingly, the unaudited consolidated financial statements, and related notes, and other financial information included in this report relate to Assabet Valley Bancorp.
The unaudited consolidated financial statements and other financial information contained in this report should be read in conjunction with the audited consolidated financial statements, and related notes, of Assabet Valley Bancorp as of and for each of the years ended December 31, 2024 and 2023, contained in the Company’s definitive prospectus dated May 13, 2025, as filed with the Securities and Exchange Commission on May 21, 2025.
Part I. – Financial Information
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.