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.

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. 

12/22/2016

Avidia Bank named a 2017 Digital Edge 50 award winner

Avidia Bank announced that it will receive the Digital Edge award for how it promoted the launch of its Cardless Cash initiative using multiple social media platforms. 

Read the full Digital Edge press release here.

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