Latest news with #Avidbank
Bloomberg
18-07-2025
- Business
- Bloomberg
Avidbank Files for IPO Ahead of Balance Sheet Restructuring
Avidbank Holdings filed for an initial public offering, earmarking a substantial portion of the proceeds help fund a balance sheet restructuring and secure its financial cushion. The overhaul could see the banking holding company for California-based lender Avidbank sell $280 million of low-yielding debt securities — mostly agency mortgage-backed securities and collateralized mortgage obligations — and reinvest the sale proceeds in higher yielding securities. The IPO proceeds would be used to offset the negative impact on its regulatory capital, according to a filing with the US Securities and Exchange Commission Friday.
Associated Press
23-06-2025
- Business
- Associated Press
Linda Morris Joins Avidbank Holdings, Inc. Board of Directors
SAN JOSE, CA / ACCESS Newswire / June 23, 2025 / Avidbank Holdings, Inc. (OTC Pink:AVBH), a bank holding company and the parent company of Avidbank, is pleased to announce that Linda Morris has joined the Board of Directors. Ms. Morris is a seasoned financial services executive with over three decades of leadership experience across banking, risk management, and strategy. As the former Executive Vice President and Head of U.S. Retail Branch Banking and Physical Distribution at PNC Bank, Ms. Morris led a network of 2,600 branches and 16,000 employees nationwide. Her business unit generated over $1 billion in annual revenues and expenses, consistently achieving positive operating leverage under her leadership. Ms. Morris has deep expertise in enterprise risk management, regulatory compliance, strategic planning and human capital management. Throughout her career, she played a pivotal role in scaling operations and driving cultural and business transformation during periods of significant change, including leading the integration of BBVA/USA's 500+ branch franchise and earlier, National City Bank's Midwest operations. She has been a featured speaker and panelist on branch transformation and organizational leadership at industry conferences. 'We are delighted to welcome Linda to our board. It's rare to find someone with the combination of skills and expertise that mesh so well with our current members,' said Mr. Mordell. 'Linda's experience and skillset will certainly benefit us as we continue to execute our strategic growth mission.' 'I'm excited to join Avidbank's board at such a pivotal time and to contribute to its bold vision for client-focused growth and innovation,' Ms. Morris remarked. About Avidbank Avidbank Holdings, Inc. (OTC Pink: AVBH), headquartered in San Jose, California, offers innovative financial solutions and services. We specialize in commercial & industrial lending, venture lending, structured finance, asset-based lending, sponsor finance, fund finance, and real estate construction and commercial real estate lending. Avidbank provides a different approach to banking. We do what we say. Contact: Patrick Oakes Executive Vice President and Chief Financial Officer 408-200-7390 [email protected] SOURCE: Avidbank Holdings, Inc. press release
