EX-99.1 5 exhibit991.htm EX-99.1 exhibit991
 
 
 
 
 
 
exhibit991p1i0
1
Exhibit 99.1
EARNINGS RELEASE
USCB Financial Holdings, Inc. Reports Record Fully Diluted EPS of
 
$0.45 for Q3 2025; ROAA of 1.27% and
ROAE of 15.74%
MIAMI, FL – October 23, 2025 – USCB Financial Holdings, Inc. (the
 
“Company”) (NASDAQ: USCB)
, the holding company for
U.S.
 
Century
 
Bank
 
(the
 
“Bank”),
 
reported
 
net
 
income
 
of
 
$8.9
 
million
 
or
 
$0.45
 
per
 
fully
 
diluted
 
share
 
for
 
the
 
three
 
months
 
ended
September 30, 2025, compared with net income of $6.9 million or $0.35
 
per fully diluted share for the same period in 2024.
 
“This marks
 
our third
 
consecutive
 
quarter of
 
record fully
 
diluted earnings
 
per share,
 
reflecting the
 
consistency and
 
resilience
 
of our
operating model,” said Luis de la
 
Aguilera, Chairman, President and CEO.
 
“Our profitability ratios place us among
 
the top performing
peers in
 
the industry,
 
while our
 
credit metrics
 
and efficiency
 
continue to
 
compare favorably
 
to peers. These
 
results reflect disciplined
execution and a continued focus on long-term value creation.”
Unless otherwise stated, all percentage
 
comparisons in the bullet points
 
below are calculated at
 
or for the quarter
 
ended September 30,
2025 compared to at or for the quarter ended September 30, 2024
 
and annualized where appropriate.
Profitability
•
Annualized return on average assets for the quarter
 
ended September 30, 2025 was 1.27%
 
compared to 1.11% for the third
 
quarter
of 2024.
 
•
Annualized return on average stockholders’ equity for the quarter ended September
 
30, 2025 was 15.74% compared to 13.38% for
the third quarter of 2024.
 
•
The efficiency ratio for the quarter ended September 30,
 
2025 was 52.28% compared to 53.16% for the third quarter of 2024.
 
•
Net interest margin for the quarter ended September 30, 2025
 
was 3.14%
 
compared to 3.03% for the third quarter of 2024.
•
Net interest income
 
before provision for
 
credit losses was
 
$21.3 million for
 
the quarter ended
 
September 30, 2025, an
 
increase of
$3.2 million or 17.5% compared to $18.1 million for the same period in 2024.
Balance Sheet
•
Total
 
assets
 
were
 
$2.8
 
billion
 
at
 
September 30,
 
2025,
 
representing
 
an
 
increase
 
of
 
$264.0 million
 
or
 
10.5%
 
from
 
$2.5
 
billion
 
at
September 30, 2024.
•
Total loans held for investment were
 
$2.1 billion at September 30, 2025, representing an increase of $199.6 million or 10.3% from
$1.9 billion at September 30, 2024.
•
Total
 
deposits were
 
$2.5 billion at
 
September 30, 2025,
 
representing an
 
increase of
 
$329.0 million or
 
15.5% from
 
$2.1 billion
 
at
September 30, 2024.
•
Total stockholders’ equity was $209.1
 
million at September 30, 2025, representing a decrease of $4.8 million or 2.3% from $213.9
million
 
at
 
September 30,
 
2024.
 
Total
 
stockholders’
 
equity
 
included
 
accumulated
 
other
 
comprehensive
 
loss
 
of
 
$37.8
 
million
 
at
September 30, 2025 compared to accumulated other comprehensive loss of
 
$38.0 million at September 30, 2024.
 
•
On August 14, 2025, the
 
Company entered into a Subordinated
 
Note Purchase Agreement with certain qualified
 
institutional buyers
pursuant to
 
which the
 
Company sold
 
and issued
 
$40.0 million
 
in aggregate
 
principal amount
 
of its
 
7.625% fixed-to-floating
 
rate
subordinated notes due August 15, 2035 in a private placement transaction. This transaction was conducted under the provisions of
Regulation D promulgated under the Securities Act 1933. The subordinated notes were issued by the Company to the purchasers at
a price equal to 100% of their face amount.
2
Asset Quality
•
The allowance
 
for credit
 
losses (“ACL”)
 
increased by
 
$1.9 million
 
to $25.0 million
 
at September 30,
 
2025 from
 
$23.1 million
 
at
September 30, 2024.
•
The ACL represented 1.17% of total loans at September 30, 2025
 
and 1.19% at September 30, 2024.
 
•
The provision for credit loss was $105 thousand for the quarter
 
ended September 30, 2025, a decrease of $826 thousand compared
to $931 thousand for the same period in 2024.
•
The
 
ratio
 
of
 
non-performing
 
loans
 
to
 
total
 
loans
 
was
 
0.06%
 
at
 
September 30,
 
2025
 
and
 
0.14%
 
at
 
September 30,
 
2024.
 
Non-
performing loans totaled $1.3 million at September 30, 2025 and
 
$2.7 million at September 30, 2024.
Non-interest Income and Non-interest Expense
•
Non-interest
 
income was
 
$3.7
 
million
 
for
 
the
 
three
 
months
 
ended September 30,
 
2025,
 
an
 
increase
 
of
 
$246
 
thousand
 
or
 
7.2%
compared to $3.4 million for the same period in 2024.
 
•
Non-interest
 
expense
 
was
 
$13.0 million
 
for
 
the
 
three
 
months
 
ended
 
September 30,
 
2025,
 
an
 
increase
 
of
 
$1.6
 
million
 
or
 
13.9%
compared to $11.5 million for the same period
 
in 2024.
 
Capital
•
On August 14, 2025, the Company entered into a
 
Subordinated Note Purchase Agreement pursuant to which the Company sold and
issued an aggregate of $40.0 million of
 
subordinated notes. The majority of the proceeds
 
were used to repurchase 2.0 million
 
shares
of Class A common
 
stock from certain institutional
 
shareholders through a privately
 
negotiated transaction,
 
at a weighted average
price per
 
share of $17.19.
 
The aggregate
 
purchase price
 
for these transactions
 
was approximately
 
$34.4 million.
 
The repurchases
were supplemental and not
 
part of the
 
Company’s two previously announced stock repurchase
 
programs. As of September
 
30, 2025,
 
528,309 shares remain authorized for repurchase under the Company’s
 
two share repurchase programs.
•
On October 20,
 
2025, the Company’s
 
Board of Directors
 
declared a quarterly
 
cash dividend of
 
$0.10 per share
 
of the Company’s
Class
 
A
 
common
 
stock.
 
The
 
dividend
 
will
 
be
 
paid
 
on
 
December
 
5,
 
2025
 
to
 
shareholders
 
of
 
record
 
at
 
the
 
close
 
of
 
business
 
on
November 14, 2025.
•
As of
 
September 30, 2025,
total risk-based
 
capital ratios
 
for the
 
Company and
 
the Bank
 
were 14.20%
 
and 13.93%,
 
respectively,
well in excess of regulatory requirements.
•
Tangible
 
book value
 
per common
 
share (a
 
non-GAAP measure)
 
was $11.55
 
at September 30,
 
2025, representing
 
an increase
 
of
$0.65 or 5.9% from $10.90 at September 30, 2024.
 
At September 30, 2025, tangible book value per common
 
share was negatively
affected by ($2.09) per share due to an accumulated other comprehensive loss of $37.8 million mostly due to
 
changes in the market
value of the Company’s available for sale securities. At September 30,
 
2024, tangible book value per common
 
share was negatively
affected by ($1.94) per share due to an
 
accumulated other comprehensive loss of $38.0 million. The
 
increases in the per share effect
of the accumulated other comprehensive loss reflected the reduction in the number of shares of Class A common stock outstanding
as a result of the share repurchases conducted in September 2025.
Conference Call and Webcast
 
The Company will host a conference call on Friday,
 
October 24, 2025, at 11:00 a.m. Eastern Time
 
to discuss the Company’s unaudited
financial results
 
for the quarter
 
ended September 30, 2025.
 
To
 
access the conference
 
call, dial (833)
 
816-1416 (U.S. toll-free)
 
and ask
to join the USCB Financial Holdings Call.
 
Additionally,
 
interested
 
parties can
 
listen to
 
a live
 
webcast
 
of the
 
call in
 
the “Investor
 
Relations” section
 
of the
 
Company’s
 
website
at www.uscentury.com
 
.
 
An archived version of the webcast will be available in the same location shortly after
 
the live call has ended.
About USCB Financial Holdings, Inc.
USCB Financial Holdings, Inc.
 
is the bank holding company for
 
U.S. Century Bank. Established in 2002,
 
U.S. Century Bank is one of
the largest
 
community banks
 
headquartered
 
in Miami,
 
and one
 
of the
 
largest community
 
banks in
 
the State
 
of Florida.
 
U.S. Century
Bank is rated 5-Stars by BauerFinancial, the nation’s leading independent
 
bank rating firm. U.S. Century Bank offers customers a wide
range of
 
financial products
 
and services
 
and supports
 
numerous community
 
organizations,
 
including
 
the Greater
 
Miami Chamber
 
of
Commerce, the South Florida Hispanic Chamber of Commerce, and ChamberSouth. For more information about us
 
or to find a banking
center near you, please call (305) 715-5200 or visit www.uscentury.com.
3
Forward-Looking Statements
This earnings release
 
may contain statements
 
that are not
 
historical in nature
 
and are intended
 
to be, and
 
are hereby identified
 
as, forward-
looking
 
statements
 
for
 
purposes
 
of
 
the
 
safe
 
harbor
 
provided
 
by
 
Section
 
21E
 
of
 
the
 
Securities
 
Exchange
 
Act
 
of
 
1934,
 
as
 
amended.
Forward-looking statements are
 
those that are
 
not historical facts.
 
The words “may,”
 
“will,” “anticipate,” “could,”
 
“should,” “would,”
“believe,” “contemplate,” “expect,” “aim,” “plan,” “estimate,” “seek,” “continue,” and “intend,”, the negative of these terms, as well as
other similar words
 
and expressions of
 
the future, are
 
intended to identify
 
forward-looking statements. These forward-looking statements
include, but are not limited
 
to, statements related to our
 
projected growth, anticipated future financial
 
performance, and management’s
long-term performance goals, as well as statements
 
relating to the anticipated effects on our results of
 
operations and financial condition
from expected or
 
potential developments or events,
 
or business and
 
growth strategies, including anticipated internal
 
growth and potential
balance sheet restructuring.
These forward-looking statements involve significant risks and uncertainties that could cause our actual
 
results to differ materially from
those anticipated in such statements. Potential risks and uncertainties include,
 
but are not limited to:
•
the strength of the United States economy in general and the strength of the local economies in
 
which we conduct operations;
•
our ability to successfully manage interest rate risk, credit risk, liquidity risk,
 
and other risks inherent to our industry;
•
the
 
accuracy
 
of
 
our
 
financial
 
statement
 
estimates
 
and
 
assumptions,
 
including
 
the
 
estimates
 
used
 
for
 
our
 
credit
 
loss
 
reserve
 
and
deferred tax asset valuation allowance;
•
the efficiency and effectiveness of our internal
 
control procedures and processes;
•
our ability to comply with
 
the extensive laws and
 
regulations to which we are
 
subject, including the laws for
 
each jurisdiction where
we operate;
•
adverse changes or conditions in capital and financial markets, including
 
actual or potential stresses in the banking industry;
•
deposit attrition and the level of our uninsured deposits;
•
legislative or regulatory changes,
 
including the enactment of the
 
Big Beautiful Bill and changes
 
in accounting principles, policies,
practices or guidelines, including the on-going effects of
 
the Current Expected Credit Losses (“CECL”) standard;
•
the
 
lack
 
of
 
a
 
significantly
 
diversified
 
loan
 
portfolio
 
and
 
our
 
concentration
 
in
 
the
 
South
 
Florida
 
market,
 
including
 
the
 
risks
 
of
geographic,
 
depositor,
 
and
 
industry
 
concentrations,
 
including
 
our
 
concentration
 
in
 
loans
 
secured
 
by
 
real
 
estate,
 
in
 
particular,
commercial real estate;
•
the effects of climate change;
•
the concentration of ownership of our common stock;
•
fluctuations in the price of our common stock;
•
our ability to
 
fund or access
 
the capital markets
 
at attractive rates
 
and terms and
 
manage our growth,
 
both organic
 
growth as well
as growth through other means, such as future acquisitions;
•
inflation, interest rate, unemployment rate, and market and monetary
 
fluctuations;
•
the effects of potential new or increased tariffs,
 
retaliatory tariffs and trade restrictions;
•
the impact of international hostilities and geopolitical events;
•
increased competition
 
and its effect
 
on the pricing
 
of our products
 
and services as
 
well as our
 
interest rate spread
 
and net interest
margin;
•
the loss of key employees;
•
the effectiveness
 
of our risk management
 
strategies, including operational
 
risks, including, but
 
not limited to, client,
 
employee, or
third-party fraud and security breaches; and
•
other risks described in this earnings release and other filings we make with the
 
Securities and Exchange Commission (“SEC”).
All forward-looking
 
statements are
 
necessarily only
 
estimates of
 
future results,
 
and there
 
can be
 
no assurance
 
that actual
 
results will
not differ
 
materially from
 
expectations. Therefore,
 
you are
 
cautioned not
 
to place
 
undue reliance
 
on any
 
forward-looking statements.
Further, forward-looking statements included in this
 
earnings release are
 
made only as
 
of the date
 
hereof, and we
 
undertake no obligation
to update or revise any forward-looking statement to reflect events
 
or circumstances after the date on which the statements are made
 
or
to reflect the occurrence of unanticipated
 
events, unless required to do
 
so under the federal securities laws.
 
You
 
should also review the
risk factors described in the reports the Company has filed or will file with the
 
SEC.
Non-GAAP Financial Measures
This earnings release
 
includes financial information determined
 
by methods other
 
than in accordance
 
with generally accepted
 
accounting
principles (“GAAP”). This financial
 
information includes certain
 
operating performance measures. Management
 
has included these non-
GAAP
 
measures
 
because
 
it
 
believes
 
these
 
measures
 
may
 
provide
 
useful
 
supplemental
 
information
 
for
 
evaluating
 
the
 
Company’s
operations and
 
underlying performance
 
trends. Further,
 
management uses these
 
measures in
 
managing and
 
evaluating the Company’s
business and intends to refer to
 
them in discussions about our operations
 
and performance. Operating performance
 
measures should be
viewed
 
in
 
addition
 
to,
 
and
 
not
 
as
 
an
 
alternative
 
to
 
or
 
substitute
 
for,
 
measures
 
determined
 
in
 
accordance
 
with
 
GAAP,
 
and
 
are
 
not
necessarily
 
comparable
 
to
 
non-GAAP
 
measures
 
that
 
may
 
be
 
presented
 
by
 
other
 
companies.
 
Reconciliations
 
of
 
these
 
non-GAAP
4
measures
 
to
 
the most
 
directly
 
comparable
 
GAAP measures
 
can be
 
found
 
in the
 
‘Non-GAAP
 
Reconciliation
 
Tables’
 
included
 
in the
exhibits to this earnings release.
All numbers included in this press release are unaudited unless otherwise noted.
Contacts:
Investor Relations
InvestorRelations@uscentury.com
Media Relations
Martha Guerra-Kattou
 
MGuerra@uscentury.com
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
5
USCB FINANCIAL HOLDINGS, INC.
CONSOLIDATED STATEMENTS
 
OF INCOME (UNAUDITED)
(Dollars in thousands, except per share data)
Three Months Ended September 30,
Nine Months Ended September 30,
2025
2024
2025
2024
Interest income:
Loans, including fees
$
32,866
$
29,819
$
95,057
$
84,479
Investment securities
3,522
2,754
9,978
8,634
Interest-bearing deposits in financial institutions
1,332
989
2,817
3,953
Total interest income
37,720
33,562
107,852
97,066
Interest expense:
Interest-bearing checking deposits
286
411
909
1,171
Savings and money market deposits
10,343
10,064
29,088
30,529
Time deposits
5,036
3,391
13,297
9,907
FHLB advances
377
1,587
2,731
4,881
Subordinated notes
404
-
404
-
Total interest expense
16,446
15,453
46,429
46,488
Net interest income before provision for credit losses
21,274
18,109
61,423
50,578
Provision for credit losses
105
931
1,817
2,127
Net interest income after provision for credit losses
21,169
17,178
59,606
48,451
Non-interest income:
Service fees
2,661
2,544
7,394
6,172
(Loss) gain on sale of securities available for sale, net
(28)
-
(28)
14
Gain on sale of loans held for sale, net
128
109
804
593
Other non-interest income
923
785
2,600
2,334
Total non-interest income
3,684
3,438
10,770
9,113
Non-interest expense:
Salaries and employee benefits
7,909
7,200
23,499
20,863
Occupancy
1,382
1,341
4,003
3,921
Regulatory assessments and fees
377
452
1,194
1,361
Consulting and legal fees
585
161
1,041
1,016
Network and information technology services
656
513
1,725
1,499
Other operating expense
2,139
1,787
6,272
5,528
Total non-interest expense
13,048
11,454
37,734
34,188
Net income before income tax expense
11,805
9,162
32,642
23,376
Income tax expense
2,866
2,213
7,905
5,606
Net income
$
8,939
$
6,949
$
24,737
$
17,770
Per share information:
 
Net income per common share, basic
$
0.46
$
0.35
$
1.25
$
0.90
Net income per common share, diluted
$
0.45
$
0.35
$
1.23
$
0.90
Cash dividends declared
$
0.10
$
0.05
$
0.30
$
0.15
Weighted average shares outstanding:
 
 
 
 
Common shares, basic
19,524,798
19,621,447
19,866,514
19,653,103
Common shares, diluted
19,755,820
19,825,211
20,106,050
19,761,242
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
6
USCB FINANCIAL HOLDINGS, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(Dollars in thousands, except per share data)
As of or For the Three Months Ended
9/30/2025
6/30/2025
3/31/2025
12/31/2024
9/30/2024
Income statement data:
Net interest income before provision for credit losses
$
21,274
$
21,034
$
19,115
$
19,358
$
18,109
Provision for credit losses
105
1,031
681
1,030
931
Net interest income after provision for credit losses
21,169
20,003
18,434
18,328
17,178
Service fees
2,661
2,402
2,331
2,667
2,544
Loss on sale of securities available for sale, net
(28)
-
-
-
-
Gain on sale of loans held for sale, net
128
151
525
154
109
Other non-interest income
923
817
860
806
785
Total non-interest income
3,684
3,370
3,716
3,627
3,438
Salaries and employee benefits
7,909
7,954
7,636
7,930
7,200
Occupancy
1,382
1,337
1,284
1,337
1,341
Regulatory assessments and fees
377
396
421
405
452
Consulting and legal fees
585
263
193
552
161
Network and information technology services
656
564
505
494
513
Other operating expense
2,139
2,120
2,013
2,136
1,787
Total non-interest expense
13,048
12,634
12,052
12,854
11,454
Net income before income tax expense
11,805
10,739
10,098
9,101
9,162
Income tax expense
2,866
2,599
2,440
2,197
2,213
Net income
$
8,939
$
8,140
$
7,658
$
6,904
$
6,949
Per share information:
Net income per common share, basic
$
0.46
$
0.41
$
0.38
$
0.35
$
0.35
Net income per common share, diluted
$
0.45
$
0.40
$
0.38
$
0.34
$
0.35
Cash dividends declared
$
0.10
$
0.10
$
0.10
$
0.05
$
0.05
Balance sheet data (at period-end):
 
 
 
Cash and cash equivalents
$
56,811
$
54,819
$
97,984
$
77,035
$
38,486
Securities available-for-sale
$
324,179
$
285,382
$
275,139
$
260,221
$
259,527
Securities held-to-maturity
$
156,365
$
158,740
$
161,790
$
164,694
$
167,001
Total securities
$
480,544
$
444,122
$
436,929
$
424,915
$
426,528
Loans held for investment
(1)
$
2,130,966
$
2,113,318
$
2,036,212
$
1,972,848
$
1,931,362
Allowance for credit losses
$
(24,964)
$
(24,933)
$
(24,740)
$
(24,070)
$
(23,067)
Total assets
$
2,767,945
$
2,719,474
$
2,677,382
$
2,581,216
$
2,503,954
Non-interest-bearing demand deposits
$
584,240
$
584,895
$
605,489
$
575,159
$
637,313
Interest-bearing deposits
$
1,871,374
$
1,750,766
$
1,704,080
$
1,598,845
$
1,489,304
Total deposits
$
2,455,614
$
2,335,661
$
2,309,569
$
2,174,004
$
2,126,617
FHLB advances
$
11,000
$
108,000
$
108,000
$
163,000
$
118,000
Subordinated notes
$
39,262
$
-
$
-
$
-
$
-
Total liabilities
$
2,558,850
$
2,487,891
$
2,452,294
$
2,365,828
$
2,290,038
Total stockholders' equity
$
209,095
$
231,583
$
225,088
$
215,388
$
213,916
Capital ratios:
(2)
 
 
 
Leverage ratio
8.47%
9.72%
9.61%
9.53%
9.34%
Common equity tier 1 capital
11.17%
12.52%
12.48%
12.28%
12.01%
Tier 1 risk-based capital
11.17%
12.52%
12.48%
12.28%
12.01%
Total risk-based capital
 
14.20%
13.73%
13.72%
13.51%
13.22%
(1)
 
Loan amounts include deferred fees/costs.
(2)
 
Reflects the Company's regulatory capital ratios which
 
are provided for informational purposes only; as a small
 
bank holding company, the Company is not subject
to regulatory capital requirements. The Bank's total risk-based
 
capital at September 30, 2025 was 13.93%.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
7
USCB FINANCIAL HOLDINGS, INC.
AVERAGE BALANCES, RATIOS, AND OTHER DATA
 
(UNAUDITED)
(Dollars in thousands)
As of or For the Three Months Ended
9/30/2025
6/30/2025
3/31/2025
12/31/2024
9/30/2024
Average balance sheet data:
Cash and cash equivalents
$
139,389
$
71,388
$
82,610
$
56,937
$
87,937
Securities available-for-sale
$
299,892
$
281,840
$
265,154
$
255,786
$
244,882
Securities held-to-maturity
$
157,702
$
160,443
$
163,510
$
165,831
$
168,632
Total securities
$
457,594
$
442,283
$
428,664
$
421,617
$
413,514
Loans held for investment
(1)
$
2,099,043
$
2,057,445
$
1,986,856
$
1,958,566
$
1,878,230
Total assets
$
2,798,115
$
2,677,198
$
2,606,593
$
2,544,592
$
2,485,434
Interest-bearing deposits
$
1,887,545
$
1,710,568
$
1,652,147
$
1,547,789
$
1,468,067
Non-interest-bearing demand deposits
$
569,522
$
580,121
$
563,040
$
590,829
$
609,456
Total deposits
$
2,457,067
$
2,290,689
$
2,215,187
$
2,138,618
$
2,077,523
FHLB advances
$
40,065
$
116,527
$
138,944
$
151,804
$
156,043
Subordinated notes
$
26,029
$
-
$
-
$
-
$
-
Total liabilities
$
2,572,799
$
2,448,706
$
2,387,088
$
2,328,877
$
2,278,793
Total stockholders' equity
$
225,316
$
228,492
$
219,505
$
215,715
$
206,641
Performance ratios:
Return on average assets
(2)
1.27%
1.22%
1.19%
 
1.08%
 
1.11%
Return on average equity
(2)
15.74%
14.29%
14.15%
12.73%
13.38%
Net interest margin
(2)
3.14%
3.28%
3.10%
3.16%
3.03%
Non-interest income to average assets
(2)
0.52%
0.50%
0.58%
0.57%
0.55%
Non-interest expense to average assets
(2)
1.85%
1.89%
1.88%
2.01%
1.83%
Efficiency ratio
(3)
52.28%
51.77%
52.79%
55.92%
53.16%
Loans by type (at period end):
(4)
Residential real estate
$
316,557
$
307,020
$
301,164
$
289,961
$
283,477
Commercial real estate
$
1,226,121
$
1,206,621
$
1,150,129
$
1,136,417
$
1,095,112
Commercial and industrial
$
269,430
$
263,966
$
256,326
$
258,311
$
246,539
Correspondent banks
$
104,598
$
110,155
$
103,026
$
82,438
$
103,815
Consumer and other
 
$
207,939
$
218,426
$
218,711
$
198,091
$
198,604
Asset quality data:
Allowance for credit losses to total loans
1.17%
1.18%
1.22%
1.22%
1.19%
Allowance for credit losses to non-performing loans
1906%
1825%
595%
889%
846%
Total non-performing loans
(5)
$
1,310
$
1,366
$
4,156
$
2,707
$
2,725
Non-performing loans to total loans
0.06%
0.06%
0.20%
0.14%
0.14%
Non-performing assets to total assets
(5)
0.05%
0.05%
0.16%
0.10%
0.11%
Net charge-offs (recoveries of) to average loans
(2)
(0.00)%
0.14%
0.00%
(0.00)%
(0.00)%
Net charge-offs (recovery) of credit losses
$
(4)
$
702
$
2
$
(11)
$
(6)
Interest rates and yields:
(2)
Loans held for investment
 
6.21%
6.23%
6.17%
6.25%
6.32%
Investment securities
 
3.03%
3.06%
2.81%
2.63%
2.61%
Total interest-earning assets
5.56%
5.64%
5.51%
5.57%
5.61%
Deposits
(6)
2.53%
2.46%
2.49%
2.48%
2.66%
FHLB advances
3.73%
3.72%
3.71%
3.81%
4.05%
Subordinated notes
6.16%
-
-
-
-
Total interest-bearing liabilities
3.34%
3.32%
3.37%
3.47%
3.79%
Other information:
Full-time equivalent employees
206
203
201
199
198
(1)
 
Loan amounts include deferred fees/costs.
(2)
 
Annualized.
(3)
 
Efficiency ratio is defined as total non-interest expense divided
 
by sum of net interest income and total non-interest
 
income.
(4)
 
Loan amounts exclude deferred fees/costs.
(5)
 
The amounts for total non-performing loans and total non-performing
 
assets are the same at the dates presented since there was
 
no other real estate owned (OREO)
recorded at any of the dates presented.
(6) Reflects effect of non-interest-bearing deposits.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
8
USCB FINANCIAL HOLDINGS, INC.
 
NET INTEREST MARGIN (UNAUDITED)
(Dollars in thousands)
Three Months Ended September 30,
2025
2024
Average
 
Balance
Interest
Yield/Rate
(1)
Average
 
Balance
Interest
Yield/Rate
(1)
Assets
Interest-earning assets:
Loans held for investment
(2)
$
2,099,043
$
32,866
6.21%
$
1,878,230
$
29,819
6.32%
Investment securities
(3)
461,303
3,522
3.03%
419,315
2,754
2.61%
Other interest-earning assets
130,740
1,332
4.04%
80,378
989
4.89%
Total interest-earning assets
2,691,086
37,720
5.56%
2,377,923
33,562
5.61%
Non-interest-earning assets
107,029
 
 
107,511
 
 
Total assets
$
2,798,115
$
2,485,434
Liabilities and stockholders' equity
 
 
 
 
 
 
Interest-bearing liabilities:
Interest-bearing checking deposits
$
47,338
286
2.40%
$
57,925
411
2.82%
Saving and money market deposits
1,319,862
10,343
3.11%
1,084,562
10,064
3.69%
Time deposits
520,345
5,036
3.84%
325,580
3,391
4.14%
Total interest-bearing deposits
1,887,545
15,665
3.29%
1,468,067
13,866
3.76%
FHLB advances
40,065
377
3.73%
156,043
1,587
4.05%
Subordinated notes
26,029
404
6.16%
-
-
- %
Total interest-bearing liabilities
1,953,639
16,446
3.34%
1,624,110
15,453
3.79%
Non-interest-bearing demand deposits
569,522
609,456
 
Other non-interest-bearing liabilities
49,638
 
 
45,227
 
 
Total liabilities
2,572,799
2,278,793
Stockholders' equity
225,316
 
 
206,641
 
 
Total liabilities and stockholders' equity
$
2,798,115
$
2,485,434
Net interest income
 
21,274
 
 
18,109
 
Net interest spread
(4)
2.22%
1.82%
Net interest margin
(5)
 
 
3.14%
 
 
3.03%
(1)
 
Annualized.
(2)
 
Average loan balances include non-accrual loans. Interest income on loans includes accretion
 
of deferred loan fees, net of deferred loan costs.
(3)
 
At fair value except for securities held to maturity. This amount includes
 
FHLB stock.
(4)
 
Net interest spread is the average yield earned on total
 
interest-earning assets minus the average rate paid on total interest-bearing
 
liabilities.
(5)
 
Net interest margin is the ratio of net interest income to total
 
interest-earning assets.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
9
USCB FINANCIAL HOLDINGS, INC.
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
(Dollars in thousands)
As of or For the Three Months Ended
9/30/2025
6/30/2025
3/31/2025
12/31/2024
9/30/2024
Pre-tax pre-provision ("PTPP") income:
(1)
Net income
$
8,939
$
8,140
$
7,658
$
6,904
$
6,949
Plus: Income tax expense
2,866
2,599
2,440
2,197
2,213
Plus: Provision for credit losses
105
1,031
681
1,030
931
PTPP income
$
11,910
$
11,770
$
10,779
$
10,131
$
10,093
PTPP return on average assets:
(1)
 
 
 
 
 
PTPP income
$
11,910
$
11,770
$
10,779
$
10,131
$
10,093
Average assets
$
2,798,115
$
2,677,198
$
2,606,593
$
2,544,592
$
2,485,434
PTPP return on average assets
(2)
1.69%
1.76%
1.68%
1.58%
1.62%
 
 
 
 
 
Operating net income:
(1)
Net income
$
8,939
$
8,140
$
7,658
$
6,904
$
6,949
Less: Net losses on sale of securities
(28)
-
-
-
-
Less: Tax effect on sale of securities
7
-
-
-
-
Operating net income
$
8,960
$
8,140
$
7,658
$
6,904
$
6,949
 
 
 
 
 
Operating PTPP income:
(1)
PTPP income
$
11,910
$
11,770
$
10,779
$
10,131
$
10,093
Less: Net losses on sale of securities
(28)
-
-
-
-
Operating PTPP income
$
11,938
$
11,770
$
10,779
$
10,131
$
10,093
Operating PTPP return on average assets:
(1)
 
 
 
 
 
Operating PTPP income
$
11,938
$
11,770
$
10,779
$
10,131
$
10,093
Average assets
$
2,798,115
$
2,677,198
$
2,606,593
$
2,544,592
$
2,485,434
Operating PTPP return on average assets
(2)
1.69%
1.76%
1.68%
1.58%
1.62%
 
 
 
 
 
Operating return on average assets:
(1)
Operating net income
$
8,960
$
8,140
$
7,658
$
6,904
$
6,949
Average assets
$
2,798,115
$
2,677,198
$
2,606,593
$
2,544,592
$
2,485,434
Operating return on average assets
(2)
1.27%
1.22%
1.19%
1.08%
1.11%
Operating return on average equity:
(1)
Operating net income
$
8,960
$
8,140
$
7,658
$
6,904
$
6,949
Average equity
$
225,316
$
228,492
$
219,505
$
215,715
$
206,641
Operating return on average equity
(2)
15.78%
14.29%
14.15%
12.73%
13.38%
Operating Revenue:
(1)
 
Net interest income
$
21,274
 
$
21,034
 
$
19,115
 
$
19,358
 
$
18,109
 
Non-interest income
 
3,684
3,370
3,716
 
3,627
 
3,438
 
Less: Net losses on sale of securities
(28)
-
-
-
-
 
Operating revenue
$
24,986
$
24,404
$
22,831
$
22,985
$
21,547
Operating Efficiency Ratio:
(1)
 
Total non-interest expense
$
13,048
 
$
12,634
 
$
12,052
 
$
12,854
 
$
11,454
 
Operating revenue
$
24,986
$
24,404
$
22,831
$
22,985
$
21,547
 
Operating efficiency ratio
52.22%
51.77%
52.79%
55.92%
53.16%
(1) The Company believes these non-GAAP measurements are
 
key indicators of the ongoing earnings power of the
 
Company.
(2)
 
Annualized.
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
10
USCB FINANCIAL HOLDINGS, INC.
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
(Dollars in thousands, except per share data)
As of or For the Three Months Ended
9/30/2025
6/30/2025
3/31/2025
12/31/2024
9/30/2024
Tangible book value per common share (at period-end):
(1)
Total stockholders' equity
$
209,095
$
231,583
$
225,088
$
215,388
$
213,916
Less: Intangible assets
-
-
-
-
-
Tangible stockholders' equity
$
209,095
$
231,583
$
225,088
$
215,388
$
213,916
Total shares issued and outstanding (at period-end):
Total common shares issued and outstanding
18,107,385
20,078,385
20,048,385
19,924,632
19,620,632
Tangible book value per common share
(2)
$
11.55
$
11.53
$
11.23
$
10.81
$
10.90
Operating diluted net income per common share:
(1)
Operating net income
$
8,960
$
8,140
$
7,658
$
6,904
$
6,949
Total weighted average diluted shares of common stock
19,755,820
20,295,794
20,319,535
20,183,731
19,825,211
Operating diluted net income per common share:
$
0.45
$
0.40
 
$
 
0.38
 
$
 
0.34
 
$
 
0.35
Tangible Common Equity/Tangible Assets
(1)
 
Tangible stockholders' equity
$
209,095
$
231,583
$
225,088
$
215,388
$
213,916
 
Tangible total assets
(3)
$
2,767,945
 
$
 
2,719,474
 
$
 
2,677,382
 
$
 
2,581,216
 
$
 
2,503,954
Tangible Common Equity/Tangible Assets
7.55%
8.52%
8.41%
8.34%
8.54%
(1)
 
The Company believes these non-GAAP measurements
 
are key indicators of the ongoing earnings power
 
of the Company.
(2)
 
Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding
 
stock options.
(3) Since the Company has no intangible assets, tangible
 
stockholders’ equity and tangible total assets are the
 
same amounts as stockholders’ equity and total assets,
respectively, as calculated under GAAP.