Press Releases

Check out what’s been happening here at Avidia. Learn about new products and services, what area organizations we have recently supported, bank promotions and more!

Press contact Info: Mike Allard, SVP, Director of Marketing. 774-760-1206. m.allard@avidiabank.com

10/06/2017

Avidia Bank branching out beyond Hudson

Avidia Bank has spent its nearly century and a half based right around the Assabet Valley, where it keeps its headquarters in Hudson. But now the bank is making a bet on an eastward expansion toward a much more crowded Boston market. The bank borrowed $25 million this summer to finance growth that starts with a new branch in Framingham scheduled to open Sept. 25 at 270 Cochituate Road.  "We feel that the opportunities are east of here," said Margaret Melo Sullivan, Avidia's executive vice president, chief financial officer and treasurer.

10/06/2017

Avidia Bank celebrates grand opening of Framingham branch

Local officials and members of the business community joined Avidia Bank’s management team Sept. 27 to celebrate the grand opening of the bank’s newest location at 270 Cochituate Road in Framingham.  The one-of-a-kind facility will contain a unique digital experience as well as a team of expert bank representatives from the consumer, investment and commercial groups to serve the banking needs in Framingham, officials said. The new building features light colors and modern materials, including insulated metal panels and glass.

07/31/2017

Assabet Valley Bancorp Completes Private Placement of $25 Million of Subordinated Notes

Hudson, MA (July 31, 2017) – Assabet Valley Bancorp (the “Company”), the no-stock mutual holding company for Avidia Bank (the “Bank”), announced today the completion of its private placement of $25.0 million in fixed-to-floating rate subordinated notes due 2027 (the “Notes”). The Notes bear a fixed rate of 5.50% for the first five years and will reset quarterly thereafter to the then current three-month LIBOR rate plus 360 basis points

03/30/2017

Avidia Bank receives Lender of the Quarter award

Avidia Bank announced that it has received the Lender of the Quarter award from the Small Business Administration.

As a preferred SBA lender, Avidia Bank allows local small businesses to have quicker access to funds to start, expand or acquire a business and for those businesses that otherwise may have difficulty getting approved outside of the SBA process.

Read the Lender of the Quarter Award release here. 

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