Avidia Bank in Hudson, Massachusetts (MA)
Overview, Financial Summary, Detailed Financial Reports, Branches


Avidia Bank - Overview

  • General
  • FDIC Certificate #: 90215
    Status: Active
    Federal Reserve ID: 619701
    Bank Holding Company (Regulatory Top Holder): Assabet Valley Bancorp (RSSDID: 2465528, Location: Hudson, MA)
    Date Established: Febuary 26, 1869
    WWW: http://www.avidiabank.com
    Trust Powers Granted: No
    Bank Charter Class: Savings banks, state charter, supervised by the FDIC
    Offices: 10 (Domestic: 10, Interstate: No)
    OTS Docket #: 10957
    FDIC's unique #: 17806
    Numeric code: 41
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    FDIC Insured: Yes
    Insured Savings Institution: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: November 27, 1985
    Last Structure Change Effective Date: December 31, 2009
    Last Structure Change Process Date: January 04, 2010
    Last Data Update: January 04, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 42 Main Street, Hudson, MA 1749
    County: Middlesex
    Quarterly Banking Profile Region: New York
    FDIC Geographic Region: New York
    FDIC Supervisory Region: New York
    FDIC Field Office: North Boston
    Office of the Comptroller the Currency (OCC) District: Northeast
    Office of Thrift Supervision Region: Northeast
    Metropolitan Statistical Area (MSA): Boston, MA-NH (#1120)
    Consolidated Metropolitan Statistical Area (CMSA): Boston-Worcester-Lawrence, MA-NH-ME-CT (#7)
    Combined Statistical Area (CSA): Boston-Worcester-Manchester, MA-RI-NH (#148)
    Core Based Statistical Area (CBSA): Boston-Cambridge-Quincy, MA-NH (#14460)
    CBSA Metro Statistical Area: Boston-Cambridge-Quincy, MA-NH (#14460)
    Core Based Statistical Division: Cambridge-Newton-Framingham, MA (#15764)
  • Financial Summary
  • Total assets: $1,026.2 mil
    Equity capital: $83.5 mil
    Deposits held in domestic offices: $801.2 mil
    Return on assets (ROA): 0.41% ($4.2 mil)
    Quarterly return on assets: 0.45% ($4.6 mil)
    Return on Equity (ROE): 5.14% ($4.3 mil)
    Quarterly return on equity: 5.55% ($4.6 mil)
    Net income: $4.1 mil
    Quarterly Net income: $1.1 mil
    Pretax return on assets: 0.62% ($6,362.6 mil)
    Quarterly Pretax return on assets: 0.69% ($7,080.9 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 182Total employees (full-time equivalent)
  • $1,026,218Total assets
  • $9,680Cash and due from depository institutions
  • $226Interest-bearing balances
  • $229,773Securities
  • $2,762Federal funds sold & reverse repurchase agreements
  • $715,301Net loans & leases
  • $6,953Loan loss allowance
  • $0Trading account assets
  • $14,366Bank premises and fixed assets
  • $1,353Other real estate owned
  • $12,931Goodwill and other intangibles
  • $1,026,218Life insurance assets
  • $40,052All other assets
  • $942,757Total liabilities and capital
  • $801,193Total liabilities
  • $755,241Total deposits
  • $801,193Interest-bearing deposits
  • $92Deposits held in domestic offices
  • 45026.00%% insured (estimated)
  • $0Federal funds purchased & repurchase agreements
  • $91,189Trading liabilities
  • $0Other borrowed funds
  • $5,349Subordinated debt
  • $83,461All other liabilities
  • $83,461Total equity capital
  • $83,461Total bank equity capital
  • $0Perpetual preferred stock
  • $500Common stock
  • $3,998Surplus
  • $78,963Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $799Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $19,393Income earned, not collected on loans
  • $0Earning assets
  • $2,994Long-term assets (5+ years)
  • $948,062Average Assets, year-to-date
  • $493,049Average Assets, quarterly
  • $1,013,346Volatile liabilities
  • $1,023,256Insider loans
  • $685,103FHLB advances
  • $1,004,456Loans and leases held for sale
  • $17,765Unused loan commitments
  • $16,669Tier 1 (core) risk-based capital
  • $69,402Tier 2 risk-based capital
  • $1,096Total risk weighted assets
  • $0Total unused commitments
  • $160,733Restructured Loans and leases
  • $4,628Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $42,846Total interest income
  • $12,975Total interest expense
  • $29,871Net interest income
  • $2,325Provision for loan and lease losses
  • $5,248Total noninterest income
  • $0Fiduciary activities
  • $1,163Service charges on deposit accounts
  • $0Trading account gains & fees
  • $4,085Additional noninterest income
  • $27,132Total noninterest expense
  • $14,343Salaries and employee benefits
  • $3,358Premises and equipment expense
  • $9,431Additional noninterest expense
  • $5,662Pre-tax net operating income
  • $573Securities gains (losses)
  • $2,130Applicable income taxes
  • $4,105Income before extraordinary items
  • $0Extraordinary gains - net
  • $4,105Net income attributable to bank
  • $0Net charge-offs
  • $4,105Cash dividends
  • $1,910Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 4.59%Yield on earning assets
  • 1.39%Cost of funding earning assets
  • 3.20%Net interest margin
  • 0.56%Noninterest income to earning assets
  • 2.91%Noninterest expense to earning assets
  • 0.37%Net operating income to assets
  • 0.41%Return on assets (ROA)
  • 0.62%Pretax return on assets
  • 5.14%Return on equity (ROE)
  • 5.14%Retained earnings to average equity (YTD only)
  • 0.27%Net charge-offs to loans
  • 121.73%Credit loss provision to net charge-offs
  • 4.18%Efficiency ratio
  • 77,534Assets per employee
  • 5.64%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.96%Loss allowance to noncurrent loans
  • 35.85%Noncurrent assets plus other real estate owned to assets
  • 2.02%Noncurrent loans to loans
  • 2.69%Net loans and leases to deposits
  • 89.28%Net loans and leases to core deposits
  • 106.10%Equity capital to assets
  • 8.13%Core capital (leverage) ratio
  • 6.91%Tier 1 risk-based capital ratio
  • 10.13%Total risk-based capital ratio
  • Memoranda
  • $11Average assets
  • $1,013,346Average earning assets
  • $79,871Average equity
  • $933,329Average loans

Total Fiduciary and Related Assets (December 31, 2008)

  • Dollar figures in thousands
  • $1Total fiduciary and related assets
  • 1Number of Fiduciary Accounts and Related Asset Accounts
  • YesFiduciary powers granted
  • YesFiduciary or related activity
  • $21,431Managed Assets
  • 1Number of Accounts
  • $21,431Personal trust and agency accounts
  • $2,977Employee benefit-defined contribution accounts
  • $3,436Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $7,899Corporate trust and agency accounts
  • $0Investment management agency accounts
  • $7,119Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices
  • $0Non-managed Assets
  • 248Number of Accounts
  • $0Personal trust and agency accounts
  • $0Employee benefit-defined contribution accounts
  • $0Employee benefit-defined benefit accounts
  • $0Other retirement accounts
  • $0Corporate trust and agency accounts
  • $0Other fiduciary accounts
  • $0Fiduciary accounts held in foreign offices

List of branches

  • 10 Massachusetts Branches as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    017806Avidia Bank42 Main Street, Hudson, MA 1749Febuary 26, 1869Full Service Brick and Mortar
    1291216Hudson Shopping Center Branch221 Washington Street, Hudson, MA 1749August 15, 1968Full Service Brick and Mortar
    2291217Marlborough Branch256 Maple Street, Marlborough, MA 1752May 05, 1997Full Service Brick and Mortar
    3366131Clinton Branch1073 Main Street, Clinton, MA 1510September 28, 2002Full Service Brick and Mortar
    4443981Leominster Branch470 Lancaster Street, Leominster, MA 1453June 30, 2005Full Service Brick and Mortar
    517888Westborough Savings Bank Branch100 East Main Street, Westborough, MA 1581January 01, 1869Full Service Brick and Mortar
    6291534Northborough Branch53 West Main Street, Northborough, MA 1532September 01, 1959Full Service Brick and Mortar
    7291535West Main Branch33 West Main Street, Westborough, MA 1581September 23, 1974Full Service Brick and Mortar
    8291536Willows BranchOne Lyman Street, Westborough, MA 1581August 17, 1987Full Service Brick and Mortar
    9291537Shrewsbury Branch23 Maple Avenue, Shrewsbury, MA 1545December 07, 1995Full Service Brick and Mortar

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