MIAMI, July 23, 2026 (GLOBE NEWSWIRE) -- USCB Financial Holdings, Inc. (the "Company") $(USCB)$, the holding company for U.S. Century Bank (the "Bank"), reported net income of $9.1 million or $0.49 per fully diluted share for the three months ended June 30, 2026, compared with net income of $8.1 million or $0.40 per fully diluted share for the same period in 2025.
"Our second quarter performance highlights the ongoing strength of our company and the effective implementation of our growth strategy," said Luis de la Aguilera, Chairman, President and CEO. "We achieved record new loan fundings of $272.0 million, resulting in a 14.6% annualized increase in loans from the previous quarter and pushing our total assets above $3 billion. At the same time, we improved profitability and operational efficiency, with our net interest margin rising to 3.49% from 3.27% and our efficiency ratio improving to 49.97% from 52.34% compared to the first quarter of 2026. These achievements underscore the scalability of our business model and our dedication to creating long-term value for our shareholders."
Unless otherwise stated, all percentage comparisons in the bullet points below are calculated at or for the quarter ended June 30, 2026 compared to at or for the quarter ended June 30, 2025 and annualized where appropriate.
Profitability
-- Annualized return on average assets for the quarter ended June 30, 2026
was 1.26% compared to 1.22% for the second quarter of 2025.
-- Annualized return on average stockholders' equity for the quarter ended
June 30, 2026 was 15.90% compared to 14.29% for the second quarter of
2025.
-- The efficiency ratio for the quarter ended June 30, 2026 was 49.97%
compared to 51.77% for the second quarter of 2025.
-- Net interest margin for the quarter ended June 30, 2026 was 3.49%
compared to 3.28% for the second quarter of 2025.
-- Net interest income before provision for credit losses was $24.4 million
for the quarter ended June 30, 2026, an increase of $3.4 million or 15.9%
compared to $21.0 million for the same period in 2025.
Balance Sheet
-- Total assets were $3.0 billion at June 30, 2026, representing an increase
of $300.2 million or 11.0% from $2.7 billion at June 30, 2025.
-- Total loans held for investment were $2.3 billion at June 30, 2026,
representing an increase of $209.1 million or 9.9% from $2.1 billion at
June 30, 2025.
-- Total deposits were $2.5 billion at June 30, 2026, representing an
increase of $116.6 million or 5.0% from $2.3 billion at June 30, 2025.
-- Total stockholders' equity was $233.2 million at June 30, 2026,
representing an increase of $1.7 million or 0.7% from $231.6 million at
June 30, 2025. Total stockholders' equity included accumulated other
comprehensive loss of $31.4 million at June 30, 2026 compared to
accumulated other comprehensive loss of $41.8 million at June 30, 2025.
The increase in total stockholders' equity was partially offset by the
repurchase of 2.0 million shares of Class A common stock in September
2025, as previously disclosed.
Asset Quality
-- The allowance for credit losses ("ACL") increased by $1.8 million to
$26.7 million at June 30, 2026 from $24.9 million at June 30, 2025.
-- The ACL represented 1.15% of total loans at June 30, 2026 and 1.18% of
total loans at June 30, 2025.
-- The provision for credit losses was $1.3 million for the quarter ended
June 30, 2026, an increase of $236 thousand compared to $1.0 million for
the same period in 2025.
-- The ratio of non-performing loans to total loans was 0.09% for the
quarter ended June 30, 2026 and 0.06% for the quarter ended June 30,
2025. Non-performing loans totaled $2.1 million at June 30, 2026 and $1.4
million at June 30, 2025.
Non-interest Income and Non-interest Expense
-- Non-interest income was $3.6 million for the three months ended June 30,
2026, an increase of $190 thousand or 5.6% compared to $3.4 million for
the same period in 2025.
-- Non-interest expense was $14.0 million for the three months ended June
30, 2026, an increase of $1.3 million or 10.5% compared to $12.6 million
for the three months ended June 30, 2025.
Capital
-- On July 20, 2026, the Company's Board of Directors declared a quarterly
cash dividend of $0.125 per share of the Company's Class A common stock.
The dividend will be paid on September 4, 2026 to shareholders of record
at the close of business on August 17, 2026.
-- As of June 30, 2026, total risk-based capital ratios for the Company and
the Bank were 13.88% and 13.68%, respectively, well in excess of the
well-capitalized minimum threshold regulatory requirements.
-- Tangible book value per common share (non-GAAP financial measure) was
$12.64 at June 30, 2026, representing an increase of $1.11 or 9.6% from
$11.53 at June 30, 2025. At June 30, 2026, tangible book value per common
share was negatively affected by ($1.70) per share due to an accumulated
other comprehensive loss of $31.4 million primarily due to changes in the
market value of the Company's available for sale securities. At June 30,
2025, tangible book value per common share was negatively affected by
($2.08) per share due to an accumulated other comprehensive loss of $41.8
million.
Conference Call and Webcast
The Company will host a conference call on Friday, July 24, 2026, at 11:00 a.m. Eastern Time to discuss the Company's unaudited financial results for the quarter ended June 30, 2026. 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.
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 future additional 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 allowance for credit losses;
-- 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 One Big
Beautiful Bill and changes in accounting principles, policies, practices
or guidelines;
-- 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, any 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 occurring 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 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
USCB FINANCIAL HOLDINGS, INC.
CONSOLIDATED STATEMENTS OF INCOME (UNAUDITED)
(Dollars in thousands, except per share data)
Three Months Ended June Six Months Ended June
30, 30,
------------------------ ------------------------
2026 2025 2026 2025
Interest income:
Loans, including
fees $ 34,899 $ 31,946 $ 67,688 $ 62,191
Investment
securities 3,858 3,432 7,269 6,456
Interest-bearing
deposits in
financial
institutions 823 776 1,655 1,485
---------- ---------- ---------- ----------
Total interest
income 39,580 36,154 76,612 70,132
Interest expense:
Interest-bearing
checking
deposits 311 285 621 623
Savings and money
market deposits 8,478 9,410 16,611 18,745
Time deposits 4,628 4,343 9,328 8,261
FHLB advances 976 1,082 2,016 2,354
Subordinated
notes 800 - 1,601 -
---------- ---------- ---------- ----------
Total interest
expense 15,193 15,120 30,177 29,983
---------- ---------- ---------- ----------
Net interest
income before
provision for
credit losses 24,387 21,034 46,435 40,149
---------- ---------- ---------- ----------
Provision for
credit losses 1,267 1,031 2,068 1,712
---------- ---------- ---------- ----------
Net interest
income after
provision for
credit losses 23,120 20,003 44,367 38,437
Non-interest
income:
Service fees 2,601 2,402 5,701 4,733
Gain on sale of
securities
available for
sale, net - - 14 -
Gain on sale of
loans held for
sale, net - 151 106 676
Other
non-interest
income 959 817 1,889 1,677
---------- ---------- ---------- ----------
Total
non-interest
income 3,560 3,370 7,710 7,086
Non-interest
expense:
Salaries and
employee
benefits 8,537 7,954 17,107 15,590
Occupancy 1,369 1,337 2,685 2,621
Regulatory
assessments and
fees 397 396 881 817
Consulting and
legal fees 583 263 1,144 456
Network and
information
technology
services 524 564 1,084 1,069
Other operating
expense 2,556 2,120 4,776 4,133
---------- ---------- ---------- ----------
Total
non-interest
expense 13,966 12,634 27,677 24,686
---------- ---------- ---------- ----------
Income before
income tax
expense 12,714 10,739 24,400 20,837
Income tax
expense 3,636 2,599 5,971 5,039
---------- ---------- ---------- ----------
Net income $ 9,078 $ 8,140 $ 18,429 $ 15,798
========== ========== ========== ==========
Per share
information:
Net income per
common share,
basic $ 0.49 $ 0.41 $ 1.01 $ 0.79
Net income per
common share,
diluted $ 0.49 $ 0.40 $ 1.00 $ 0.78
Cash dividends
declared $ 0.125 $ 0.10 $ 0.250 $ 0.20
Weighted average
shares
outstanding:
Common shares,
basic 18,346,946 20,059,264 18,280,860 20,040,205
Common shares,
diluted 18,509,572 20,295,794 18,443,486 20,299,585
USCB FINANCIAL HOLDINGS, INC.
SELECTED FINANCIAL DATA (UNAUDITED)
(Dollars in thousands, except per share data)
As of or For the Three Months Ended
-----------------------------------------------------------------
6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025
----------- ----------- ----------- -------------
Income statement data:
Net interest income
before provision for
credit losses $ 24,387 $ 22,048 $ 22,207 $ 21,274 $ 21,034
Provision for credit
losses 1,267 801 480 105 1,031
--------- --------- --------- --------- ---------
Net interest income
after provision
for credit losses 23,120 21,247 21,727 21,169 20,003
Service fees 2,601 3,100 2,209 2,661 2,402
Gain (loss) on sale
of securities
available for sale,
net - 14 (7,498) (28) -
Gain on sale of loans
held for sale, net - 106 197 128 151
Other non-interest
income 959 930 914 923 817
--------- --------- --------- --------- ---------
Total non-interest
income 3,560 4,150 (4,178) 3,684 3,370
Salaries and employee
benefits 8,537 8,570 8,668 7,909 7,954
Occupancy 1,369 1,316 1,327 1,382 1,337
Regulatory
assessments and
fees 397 484 443 377 396
Consulting and legal
fees 583 561 900 585 263
Network and
information
technology services 524 560 599 656 564
Other operating
expense 2,556 2,220 2,338 2,139 2,120
--------- --------- --------- --------- ---------
Total non-interest
expense 13,966 13,711 14,275 13,048 12,634
--------- --------- --------- --------- ---------
Income before income
tax expense 12,714 11,686 3,274 11,805 10,739
Income tax expense 3,636 2,335 1,911 2,866 2,599
--------- --------- --------- --------- ---------
Net income $ 9,078 $ 9,351 $ 1,363 $ 8,939 $ 8,140
========= ========= ========= ========= =========
Per share information:
Net income per
common share,
basic $ 0.49 $ 0.51 $ 0.08 $ 0.46 $ 0.41
Net income per
common share,
diluted $ 0.49 $ 0.51 $ 0.07 $ 0.45 $ 0.40
Cash dividends
declared $ 0.125 $ 0.125 $ 0.10 $ 0.10 $ 0.10
Balance sheet data (at
period-end):
Cash and cash
equivalents $ 118,154 $ 78,963 $ 38,477 $ 56,811 $ 54,819
Securities
available-for-sale $ 332,859 $ 277,160 $ 307,490 $ 324,179 $ 285,382
Securities
held-to-maturity $ 136,127 $ 149,931 $ 153,941 $ 156,365 $ 158,740
Total securities $ 468,986 $ 427,091 $ 461,431 $ 480,544 $ 444,122
Loans held for
investment(1) $2,322,385 $2,241,051 $2,189,257 $2,130,966 $2,113,318
Allowance for credit
losses $ (26,701) $ (26,102) $ (25,500) $ (24,964) $ (24,933)
Total assets $3,019,701 $2,845,735 $2,791,540 $2,767,945 $2,719,474
Non-interest-bearing
demand deposits $ 618,062 $ 620,714 $ 583,860 $ 584,240 $ 584,895
Interest-bearing
deposits $1,834,209 $1,872,866 $1,761,220 $1,871,374 $1,750,766
Total deposits $2,452,271 $2,493,580 $2,345,080 $2,455,614 $2,335,661
FHLB advances $ 240,900 $ 53,000 $ 158,250 $ 11,000 $ 108,000
Subordinated notes $ 39,376 $ 39,338 $ 39,300 $ 39,262 $ -
Total liabilities $2,786,463 $2,622,489 $2,574,357 $2,558,850 $2,487,891
Total stockholders'
equity $ 233,238 $ 223,246 $ 217,183 $ 209,095 $ 231,583
Capital ratios:(2)
Leverage ratio 8.81% 8.61% 8.46% 8.47% 9.72%
Common equity tier 1
capital 11.01% 11.09% 10.92% 11.17% 12.52%
Tier 1 risk-based
capital 11.01% 11.09% 10.92% 11.17% 12.52%
Total risk-based
capital 13.88% 14.09% 13.91% 14.20% 13.73%
(1) Loan amounts include deferred fees/costs.
(2) Reflects the Company's regulatory capital ratios.
The Bank's total risk-based capital ratio at June
30, 2026 was 13.68%.
USCB FINANCIAL HOLDINGS, INC.
AVERAGE BALANCES, RATIOS, AND OTHER DATA (UNAUDITED)
(Dollars in thousands)
As of or For the Three Months Ended
------------------------------------------------------------------
6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025
Average balance sheet
data:
Cash and cash
equivalents $ 87,949 $ 112,107 $ 82,338 $ 139,389 $ 71,388
Securities
available-for-sale $ 314,581 $ 295,065 $ 332,356 $ 299,892 $ 281,840
Securities
held-to-maturity $ 140,533 $ 152,144 $ 155,269 $ 157,702 $ 160,443
Total securities $ 455,114 $ 447,209 $ 487,625 $ 457,594 $ 442,283
Loans held for
investment(1) $2,258,965 $2,177,734 $2,130,898 $2,099,043 $2,057,445
Total assets $2,900,725 $2,834,717 $2,799,863 $2,798,115 $2,677,198
Interest-bearing
deposits $1,856,763 $1,842,283 $1,857,218 $1,887,545 $1,710,568
Non-interest-bearing
demand deposits $ 632,198 $ 584,784 $ 595,969 $ 569,522 $ 580,121
Total deposits $2,488,961 $2,427,067 $2,453,187 $2,457,067 $2,290,689
FHLB advances $ 100,685 $ 110,045 $ 51,462 $ 40,065 $ 116,527
Subordinated notes $ 39,351 $ 39,313 $ 39,287 $ 26,029 $ -
Total liabilities $2,671,792 $2,612,491 $2,587,470 $2,572,799 $2,448,706
Total stockholders'
equity $ 228,933 $ 222,226 $ 212,393 $ 225,316 $ 228,492
Performance ratios:
Return on average
assets(2) 1.26% 1.34% 0.19% 1.27% 1.22%
Return on average
equity(2) 15.90% 17.07% 2.55% 15.74% 14.29%
Net interest
margin(2) 3.49% 3.27% 3.27% 3.14% 3.28%
Non-interest income
to average
assets(2) 0.49% 0.59% (0.59)% 0.52% 0.50%
Non-interest expense
to average
assets(2) 1.93% 1.96% 2.02% 1.85% 1.89%
Efficiency ratio(3) 49.97% 52.34% 79.18% 52.28% 51.77%
Loans by type (at
period end):(4)
Residential real
estate $ 356,747 $ 346,917 $ 307,692 $ 316,557 $ 307,020
Commercial real
estate $1,314,367 $1,259,642 $1,244,835 $1,226,121 $1,206,621
Commercial and
industrial $ 300,265 $ 291,333 $ 295,548 $ 269,430 $ 263,966
Correspondent banks $ 137,912 $ 128,722 $ 127,968 $ 104,598 $ 110,155
Consumer and other $ 207,404 $ 207,794 $ 207,215 $ 207,939 $ 218,426
Asset quality data:
Allowance for credit
losses to total
loans 1.15% 1.16% 1.16% 1.17% 1.18%
Allowance for credit
losses to
non-performing
loans 1243% 717% 813% 1906% 1825%
Total non-performing
loans(5) $ 2,148 $ 3,640 $ 3,138 $ 1,310 $ 1,366
Non-performing loans
to total loans 0.09% 0.16% 0.14% 0.06% 0.06%
Non-performing assets
to total assets(5) 0.07% 0.13% 0.11% 0.05% 0.05%
Net charge-offs
(recoveries of) to
average loans(2) 0.05% (0.00)% (0.00)% (0.00)% 0.14%
Net charge-offs
(recoveries) of
credit losses $ 288 $ (4) $ (11) $ (4) $ 702
Interest rates and
yields:(2)
Loans held for
investment 6.20% 6.11% 6.16% 6.21% 6.23%
Investment securities 3.35% 3.05% 3.01% 3.03% 3.06%
Total
interest-earning
assets 5.67% 5.49% 5.54% 5.56% 5.64%
Deposits(6) 2.16% 2.20% 2.28% 2.53% 2.46%
FHLB advances 3.89% 3.83% 3.91% 3.73% 3.72%
Subordinated notes 8.15% 8.26% 8.09% 6.16% -
Total
interest-bearing
liabilities 3.05% 3.05% 3.14% 3.34% 3.32%
Other information:
Full-time equivalent
employees 216 211 204 206 203
(1) Loan amounts include deferred fees/costs.
(2) Annualized.
(3) Efficiency ratio is defined as total non-interest
expense divided by the 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.
USCB FINANCIAL HOLDINGS, INC.
NET INTEREST MARGIN (UNAUDITED)
(Dollars in thousands)
Three Months Ended June 30,
--------------------------------------------------------------------------------
2026 2025
-------------------------------- ----- -------------------------------- -----
Average Average
Balance Interest Yield/Rate(1) Balance Interest Yield/Rate(1)
---------- --------------- ---------------
Assets
Interest-earning
assets:
Loans held for
investment(2) $2,258,965 $ 34,899 6.20% $2,057,445 $ 31,946 6.23%
Investment
securities(3) 461,849 3,858 3.35% 449,624 3,432 3.06%
Other
interest-earning
assets 80,640 823 4.09% 63,974 776 4.87%
--------- ------ --------- ------
Total
interest-earning
assets 2,801,454 39,580 5.67% 2,571,043 36,154 5.64%
Non-interest-earning
assets 99,271 106,155
--------- ---------
Total assets $2,900,725 $2,677,198
========= =========
Liabilities and
stockholders' equity
Interest-bearing
liabilities:
Interest-bearing
checking deposits $ 51,711 311 2.41% $ 46,694 285 2.45%
Savings and money
market deposits 1,280,578 8,478 2.66% 1,211,513 9,410 3.12%
Time deposits 524,474 4,628 3.54% 452,361 4,343 3.85%
--------- ------ --------- ------
Total
interest-bearing
deposits 1,856,763 13,417 2.90% 1,710,568 14,038 3.29%
FHLB advances 100,685 976 3.89% 116,527 1,082 3.72%
Subordinated notes 39,351 800 8.15% - - -%
--------- ------ --------- ------
Total
interest-bearing
liabilities 1,996,799 15,193 3.05% 1,827,095 15,120 3.32%
Non-interest-bearing
demand deposits 632,198 580,121
Other
non-interest-bearing
liabilities 42,795 41,490
--------- ---------
Total liabilities 2,671,792 2,448,706
Stockholders' equity 228,933 228,492
--------- ---------
Total liabilities
and stockholders'
equity $2,900,725 $2,677,198
========= =========
Net interest income $ 24,387 $ 21,034
====== ======
Net interest spread(4) 2.62% 2.32%
Net interest margin(5) 3.49% 3.28%
(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.
USCB FINANCIAL HOLDINGS, INC.
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
(Dollars in thousands)
As of or For the Three Months Ended
-------------------------------------------------------------------------
6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025
Pre-tax
pre-provision
("PTPP")
income:(1)
Net income $ 9,078 $ 9,351 $ 1,363 $ 8,939 $ 8,140
Plus: Income
tax expense 3,636 2,335 1,911 2,866 2,599
Plus:
Provision
for credit
losses 1,267 801 480 105 1,031
--------- --------- --------- --------- ---------
PTPP income $ 13,981 $ 12,487 $ 3,754 $ 11,910 $ 11,770
========= ========= ========= ========= =========
PTPP return on
average
assets:(1)
PTPP income $ 13,981 $ 12,487 $ 3,754 $ 11,910 $ 11,770
Average
assets $2,900,725 $2,834,717 $2,799,863 $2,798,115 $2,677,198
PTPP return
on average
assets(2) 1.93% 1.79% 0.53% 1.69% 1.76%
Operating net
income:(1)
Net income $ 9,078 $ 9,351 $ 1,363 $ 8,939 $ 8,140
Less: Net
gains
(losses) on
sale of
securities - 14 (7,498) (28) -
Less: Tax
effect on
sale of
securities - (4) 1,900 7 -
Plus: Tax
(benefit)
liability
expense from
prior
periods - (619) (3) 1,096 (4) - -
--------- --------- --------- --------- ---------
Operating
net
income $ 9,078 $ 8,722 $ 8,057 $ 8,960 $ 8,140
========= ========= ========= ========= =========
Operating
return on
average
assets:(1)
Operating net
income $ 9,078 $ 8,722 $ 8,057 $ 8,960 $ 8,140
Average
assets $2,900,725 $2,834,717 $2,799,863 $2,798,115 $2,677,198
Operating
net income
return on
average
assets(2) 1.26% 1.25% 1.14% 1.27% 1.22%
Operating
return on
average
equity:(1)
Operating net
income $ 9,078 $ 8,722 $ 8,057 $ 8,960 $ 8,140
Average
equity $ 228,933 $ 222,226 $ 212,393 $ 225,316 $ 228,492
Operating
net income
return on
average
equity(2) 15.90% 15.92% 15.05% 15.78% 14.29%
Operating
revenue:(1)
Net interest
income $ 24,387 $ 22,048 $ 22,207 $ 21,274 $ 21,034
Non-interest
income 3,560 4,150 (4,178) 3,684 3,370
Less: Net
gains
(losses) on
sale of
securities - 14 (7,498) (28) -
--------- --------- --------- --------- ---------
Operating
revenue $ 27,947 $ 26,184 $ 25,527 $ 24,986 $ 24,404
========= ========= ========= ========= =========
Operating
efficiency
ratio:(1)
Total
non-interest
expense $ 13,966 $ 13,711 $ 14,275 $ 13,048 $ 12,634
Operating
revenue $ 27,947 $ 26,184 $ 25,527 $ 24,986 $ 24,404
Operating
efficiency
ratio 49.97% 52.36% 55.92% 52.22% 51.77%
(1) The Company believes these non-GAAP financial
measurements are key indicators of the ongoing earnings
power of the Company.
(2) Annualized.
(3) The Company recognized a $619 thousand income
tax benefit in the first quarter of 2026 due to an
adjustment to the deferred tax asset calculation from
2025.
(4) State tax liability expenses for 2024 and for
the first three quarters of 2025 were recognized during
the fourth quarter of 2025. The state tax expense
is related to taxes due on interest income on loans
whose collateral is located outside of the State of
Florida.
USCB FINANCIAL HOLDINGS, INC.
NON-GAAP FINANCIAL MEASURES (UNAUDITED)
(Dollars in thousands, except per share data)
As of or For the Three Months Ended
-----------------------------------------------------------------
6/30/2026 3/31/2026 12/31/2025 9/30/2025 6/30/2025
Tangible book value per
common share (at
period-end):(1)(4)
Total stockholders'
equity $ 233,238 $ 223,246 $ 217,183 $ 209,095 $ 231,583
Less: Intangible
assets - - - - -
Tangible
stockholders'
equity(3) $ 233,238 $ 223,246 $ 217,183 $ 209,095 $ 231,583
Total shares issued
and outstanding (at
period-end):
Total common shares
issued and
outstanding 18,459,470 18,257,400 18,137,885 18,107,385 20,078,385
---------- ---------- ---------- ---------- ----------
Tangible book
value per common
share(2) $ 12.64 $ 12.23 $ 11.97 $ 11.55 $ 11.53
========== ========== ========== ========== ==========
Operating diluted net
income per common
share:(1)
Operating net
income $ 9,078 $ 8,722 $ 8,057 $ 8,960 $ 8,140
Total weighted
average diluted
shares of common
stock 18,509,572 18,454,006 18,348,725 19,755,820 20,295,794
---------- ---------- ---------- ---------- ----------
Operating diluted
net income per
common share: $ 0.49 $ 0.47 $ 0.44 $ 0.45 $ 0.40
========== ========== ========== ========== ==========
Tangible Common
Equity/Tangible
Assets(1)(4)
Tangible
stockholders'
equity(3) $ 233,238 $ 223,246 $ 217,183 $ 209,095 $ 231,583
Tangible total
assets(3) $ 3,019,701 $ 2,845,735 $ 2,791,540 $ 2,767,945 $ 2,719,474
Tangible Common
Equity/Tangible
Assets 7.72% 7.84% 7.78% 7.55% 8.52%
(1) The Company believes these non-GAAP financial
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
(MORE TO FOLLOW) Dow Jones Newswires
July 23, 2026 16:30 ET