From the Bank
Avidia Bank provides the best in banking to consumers and businesses and is a proud community partner. Formed in 2007 by a merger between Hudson Savings Bank and Westborough Bank, Avidia Bank is now a $1.2 Billion mutual community bank headquartered in Hudson, MA. It has branches in Hudson, Westborough, Clinton, Marlborough, Northborough, Shrewsbury, Leominster and is opening soon in Framingham.
With investments in technology, Avidia offers Mobile banking with check deposit, bill pay, transfers, and the option to pay other people electronically.
The bank is very passionate about communities it serves in and helps out area organizations through the Avidia Charitable Foundation as well as through the Bank itself.
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Questionable Integrity
Avidia Bank manages Healthcare Savings Accounts (HSA). After talking with their VP of Operations, they admitted that their internal policy is to deny valid HSA payments even though they, as the bank, do not have any responsibility to validate or verify the legitimacy of HSA payments. Of course, the responsibility for that lies with the account holder, not the bank. Avidia, by policy, keeps clients money and makes them take additional, time consuming, steps to get your money.
Data as of Q2 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 90215 |
| Year Established | 1869 |
| Employees | 266 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.49% |
| Return on Equity - YTD | 6.22% |
| Annual Interest Income | $60.7MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2024vs Q2 2023 | $2.65B$2.58B |
| Loans | Q2 2024vs Q2 2023 | $2.13B$2.05B |
| Deposits | Q2 2024vs Q2 2023 | $2.04B$1.96B |
| Equity Capital | Q2 2024vs Q2 2023 | $209.3MM$191.4MM |
| Loan Loss Allowance | Q2 2024vs Q2 2023 | $21.2MM$21.2MM |
| Unbacked Noncurrent Loans | Q2 2024vs Q2 2023 | $3.5MM$7MM |
| Real Estate Owned | Q2 2024vs Q2 2023 | $0$0 |