Regulatory Compliance - The company is subject to extensive regulation, supervision, and legal requirements that govern almost all aspects of its operations, which could adversely affect its business and financial condition [237]. - The company must comply with capital adequacy requirements established by regulators, which include maintaining a Common Equity Tier 1 (CET1) capital ratio of 7.0% or more, a Tier 1 capital ratio of 8.5% or more, and a total capital ratio of 10.5% or more [246]. - The Basel III rules have increased capital requirements, necessitating the company to hold more capital against certain assets, which could impact its growth initiatives and financial condition [245]. - The company is engaged in a process to document and evaluate its internal control over financial reporting in preparation for compliance with Section 404 of the Sarbanes-Oxley Act, which is both costly and challenging [235]. - Failure to maintain effective internal controls could result in regulatory penalties and a decline in investor confidence, adversely affecting the company's stock price [233]. - The company faces risks related to noncompliance with the Bank Secrecy Act and anti-money laundering regulations, which could lead to significant penalties and reputational damage [241]. - Regulatory scrutiny has increased following recent banking stresses, which may lead to more stringent regulatory requirements and operational restrictions [242]. - The company is required to maintain adequate capital to support its business, and failure to meet capital requirements could restrict its activities and growth [247]. - The company is subject to periodic examinations by banking agencies, which could result in remedial actions if any deficiencies are identified [250]. - Noncompliance with consumer protection laws, such as the Community Reinvestment Act, could lead to sanctions that adversely affect the company's operations and financial condition [252]. Financial Performance - Total assets increased to $2,791,540 thousand in 2025 from $2,581,216 thousand in 2024, representing a growth of 8.1% [453]. - Net interest income after provision for credit losses rose to $81,333 thousand in 2025, up from $66,779 thousand in 2024, an increase of 21.8% [456]. - Net income for 2025 was $26,100 thousand, compared to $24,674 thousand in 2024, reflecting a growth of 5.8% [456]. - Total deposits increased to $2,345,080 thousand in 2025, up from $2,174,004 thousand in 2024, marking a rise of 7.9% [453]. - Earnings per share (basic) improved to $1.34 in 2025 from $1.25 in 2024, an increase of 7.2% [456]. - Non-interest income decreased to $6,592 thousand in 2025 from $12,740 thousand in 2024, a decline of 48.2% [456]. - Total non-interest expense increased to $52,009 thousand in 2025, compared to $47,042 thousand in 2024, an increase of 10.5% [456]. - The company reported a total comprehensive income of $40,369 thousand in 2025, up from $24,411 thousand in 2024, an increase of 65.3% [459]. - Loans held for investment increased to $2,163,757 thousand in 2025 from $1,948,778 thousand in 2024, a growth of 11.0% [453]. - The accumulated deficit improved to $(49,542) thousand in 2025 from $(67,813) thousand in 2024, indicating a reduction of 27.0% [461]. Shareholder and Market Impact - Significant investors hold approximately 32.2% of the company's Class A common stock, which may influence corporate decisions and could conflict with other shareholders' interests [266]. - The company has negative retained earnings, which limits its ability to pay dividends without FDIC approval [254]. - The company may face volatility in the market price and trading volume of its Class A common stock, which could lead to substantial losses for shareholders [258]. - The company has provisions in its governing documents that may have an anti-takeover effect, potentially delaying or preventing acquisitions [267]. - The company is subject to various laws and regulations that limit its ability to pay dividends and conduct certain transactions [254]. - The company may issue additional debt or equity securities in the future, which could dilute existing shareholders' interests [257]. Loan and Credit Quality - The Company utilized regression analyses of peer data to model lifetime rates of probability of default (PD) and assigned a loss given default rate (LGD) to each loan pool based on these outcomes [496]. - As of December 31, 2025, the Company had a concentration of risk with loans outstanding to the top ten lending relationships totaling $224.9 million, representing 10.3% of net loans outstanding [506]. - The Company reported a concentration of risk with loans outstanding totaling $128.0 million to correspondent banks in Central America as of December 31, 2025 [507]. - The Company segments its loan portfolio based on collateral codes and applies long-term average loss rates calculated quarterly for correspondent bank loans and consumer loan segments [498]. - The Company maintains Bank Owned Life Insurance (BOLI) policies with a combined cash surrender value of $59.4 million as of December 31, 2025, up from $53.5 million in 2024 [511]. - The Company assesses qualitative factors to adjust loss assumptions for each portfolio segment, reflecting management's expectations of loss conditions [500]. - The Company’s loan portfolio is primarily concentrated in real estate and commercial loans in South Florida, which could be adversely impacted by negative economic conditions in the region [504]. - The Company’s estimated reserve for unfunded commitments is reported separately from the allowance for credit losses (ACL) and is based on the same quantitative and qualitative factors [502]. - The allowance for credit losses (ACL) for loans increased to $25.5 million as of December 31, 2025, up from $24.1 million in 2024, marking a rise of 5.9% [563]. - The total loans outstanding as of December 31, 2025, amounted to $2,183,258,000, compared to $1,965,218,000 in 2024, representing a growth of about 11.1% [571]. Tax and Accounting - The company adopted ASU 2023-09 regarding income tax disclosures effective January 1, 2025, which is expected to enhance transparency but did not materially impact consolidated financial statements [540]. - The net deferred tax asset decreased to $18,046 thousand in 2025 from $29,646 thousand in 2024, a decline of 39.4% [596]. - The company recognized positions taken in tax returns based on existing accounting guidance, with interest and penalties recorded in operating expenses [516]. - Cash payments for federal taxes were $3.9 million in 2025, compared to $0 in 2024, indicating a significant increase due to tax obligations [599]. Lease Obligations - Total future minimum lease payments are projected to be $6,813, with a total lease liability of $5,519 as of December 31, 2025 [591]. - The weighted average remaining lease term for operating leases is 6.04 years, with a weighted average discount rate of 2.94% [590]. - The total lease cost for the year ended December 31, 2025, was $3,670, compared to $3,632 in 2024 [591]. - The company has nine leased banking centers and headquarters under non-cancelable operating leases, with expiration dates ranging from 2026 to 2036 [587].

Core Insights - The company executed a deliberate securities restructuring aimed at improving net interest margin, selling securities that represented approximately 12.6% of the available-for-sale portfolio as of November 30, 2025, with a weighted average yield of 1.70% and reinvesting proceeds into loans yielding 6.15% [1][6] Financial Performance - For the fourth quarter, the GAAP diluted EPS was reported at $0.07, impacted by non-operating items including a $44.6 million sale of lower-yielding securities resulting in an after-tax loss of $5.6 million [3] - Operational diluted EPS, excluding non-operating items, was $0.44, consistent with the prior quarter, with an operating return on average assets of 1.14% and return on average equity of 15.05% [2] Asset and Loan Growth - Total assets reached $2.8 billion, reflecting an 8.1% year-over-year increase, while loans grew by $216 million, or 11%, attributed to strong commercial activity [5] - Average loans rose by $31.9 million from the prior quarter, with gross loan production totaling $196 million in the fourth quarter [9] Deposit Trends - Average deposits decreased by $3.9 million from the prior quarter but increased by $314.6 million year-over-year, with a notable increase in DDA balances [7] - The company experienced a significant deposit movement at quarter-end, with a long-term client moving over $100 million, although this was largely recovered in January [8] Credit Quality - Non-performing loans were reported at 0.14% of total loans, with no loan losses during the quarter, and the allowance for credit losses rose to $25.5 million, representing 1.16% of the portfolio [12][13] Expense Management - Total expenses for the quarter were $14.3 million, with adjustments indicating an efficiency ratio of 51.87% when excluding certain items [15][16] - The company anticipates gradual increases in expenses due to hiring, with a baseline expense model of $13.2 million for 2026 [16] Capital Actions - The company issued $40 million in subordinated debt and repurchased about 2 million shares, approximately 10% of the company, at a weighted average price of $17.19 per share [17] - A 25% increase in the quarterly cash dividend to $0.125 per share was announced, supported by strong operating earnings [17] Strategic Priorities for 2026 - The company aims to expand its deposit base through a relationship-driven approach, focusing on four business lines: Business Banking, Private Client Group, Association Banking, and Correspondent Banking [18][19] - The SBA initiative is expected to grow annual volume to approximately $40 million to $50 million over the next three years [19] Overall Focus - The company remains committed to consistent performance, growing high-quality loans, strengthening core funding, and disciplined risk management while investing in personnel and returning value to shareholders [20]

Financial Data and Key Metrics Changes - Total assets reached $2.8 billion, up 8.1% year-over-year [2] - Loans grew by $216 million, or 11%, reflecting strong commercial activity [2] - Deposits increased to $171 million, or 7.9%, demonstrating continued franchise growth [2] - Net interest income expanded to 3.27%, improving from 3.16% in the prior year [2] - Non-performing loans stood at 0.14% of total loans, indicating excellent credit quality [3] - Tangible book value per share increased 10.8% year-over-year to $11.97 [3] - GAAP-diluted EPS was $0.07, with operational diluted EPS at $0.44, consistent with the previous quarter [4] Business Line Data and Key Metrics Changes - Average loans increased $31.9 million, or 6.02% annualized compared to the prior quarter [10] - Gross loan production totaled $196 million in Q4, with $83.5 million from correspondent banking [12] - Net interest income increased $933,000 on a linked quarter basis, representing 17.4% annualized growth [13] - Portfolio yield declined modestly to 6.16% due to Federal Reserve rate cuts [11] Market Data and Key Metrics Changes - Average deposits were stable, down $3.9 million compared to the prior quarter but up $314.6 million year-over-year [10] - Interest-bearing deposit rates decreased 27 basis points to 3.02% [10] - Total deposit costs improved 25 basis points quarter-over-quarter [10] Company Strategy and Development Direction - The company aims to expand and strengthen its deposit base, focusing on multi-vertical and relationship-driven strategies [26] - Key business lines include Business Banking, Private Client Group, Association Banking, and Correspondent Banking, each with clear growth plans [27][28][29] - The strategy emphasizes building sticky, relationship-anchored deposits and expanding production capacity [27][28] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the bank's ability to execute its plans for 2026, focusing on profitability and shareholder value [26] - The company anticipates further NIM improvement supported by rate cuts and disciplined deposit pricing strategies [14] - Management highlighted the importance of maintaining a healthy loan-to-deposit ratio between 90% and 95% [40] Other Important Information - The board approved a 25% increase in quarterly cash dividends to $0.12 per share [5] - The bank's capital ratios exceed regulatory requirements comfortably [5] - The company executed a $40 million subordinated debt issuance, primarily used for share repurchase [3] Q&A Session Summary Question: Deposit trends and shrinkage at year-end - Management noted a significant deposit move of over $100 million from a long-term client, which is expected to rebuild over time [36] - A $50 million swing in correspondent banking deposits was also identified, which has been recovered in January [37] Question: Loan-to-deposit ratio expectations - Management prefers a loan-to-deposit ratio between 90% and 95%, indicating a desire for liquidity [40] Question: SBA vertical opportunity - The SBA initiative has been growing prudently, with plans to increase annual volume to $40 million or $50 million over the next three years [42] Question: Capital strategy and priorities - The focus remains on building capital and returning it to shareholders, with no significant plans for additional actions beyond producing good earnings [48]

Financial Data and Key Metrics Changes - Total assets reached $2.8 billion, up 8.1% year-over-year [2] - Loans grew by $216 million, or 11%, reflecting strong commercial activity [2] - Deposits increased to $171 million, or 7.9% [2] - Net interest income expanded to 3.27%, improving from 3.16% in the prior year [2] - Non-performing loans stood at 0.14% of total loans, indicating excellent credit quality [3] - Tangible book value per share increased 10.8% year-over-year to $11.97 [3] - GAAP-diluted EPS reported at $0.07, with operational diluted EPS at $0.44 [4] Business Line Data and Key Metrics Changes - Average loans increased $31.9 million, or 6.02% annualized compared to the prior quarter [10] - Gross loan production totaled $196 million in Q4, with $83.5 million from correspondent banking [12] - Average deposits were stable, down $3.9 million compared to the prior quarter but up $314.6 million year-over-year [10] - Net interest income increased by $933,000 on a linked quarter basis, representing 17.4% annualized growth [13] Market Data and Key Metrics Changes - The bank's loan portfolio increased to just under $2.2 billion, with commercial real estate representing 57% [18] - The quality of the loan portfolio remains strong, with a past-due ratio at 0.14% [19] - The bank's securities portfolio ended the quarter with $461.4 million, with a quarterly portfolio yield of 3.01% [15] Company Strategy and Development Direction - The company aims to expand and strengthen its deposit base as a top priority for 2026 [25] - Focus on four strong business lines: Business Banking, Private Client Group, Association Banking, and Correspondent Banking [26] - Plans to launch a new lending and deposit gathering team in targeted small business markets [27] - Emphasis on relationship-driven growth rather than rate-driven [25] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the bank's business model and strategic actions to enhance earnings power in 2026 [3] - Anticipation of further NIM improvement supported by rate cuts and ongoing deposit strategy execution [13] - The bank's capital ratios exceed regulatory requirements, indicating a solid financial position [6] Other Important Information - The board approved a 25% increase in quarterly cash dividend to $0.12 per share [6] - The company executed a $40 million subordinated debt issuance, primarily used for share repurchase [3] Q&A Session Summary Question: Deposit trends and shrinkage at year-end - Management noted a significant deposit move of over $100 million from a long-term client, which is expected to rebuild over time [35] Question: Loan-to-deposit ratio expectations - Management prefers a loan-to-deposit ratio between 90-95% and anticipates rebuilding deposits in 2026 [39] Question: SBA vertical expansion - The SBA initiative has been growing prudently, aiming for $40-$50 million in annual volume over the next three years [41] Question: Capital strategy and priorities - The focus remains on building capital and returning it to shareholders, with no significant plans for new initiatives [47] Question: Margin expectations for the first quarter - Management expects NIM to be flat to slightly up in the first quarter, with potential for growth from rate cuts [54] Question: Expense outlook - Anticipated expenses to gradually increase with new hires, targeting a low 50% efficiency ratio [65] Question: Fee income outlook - Expected non-interest income to build around $3.5-$3.8 million range for 2026, driven by various fee-generating activities [68]

Financial Data and Key Metrics Changes - Total assets reached $2.8 billion, up 8.1% year-over-year [2] - Loans grew by $216 million, or 11%, reflecting strong commercial activity [2] - Deposits increased to $171 million, or 7.9%, demonstrating continued franchise growth [2] - Net interest income expanded to 3.27%, improving from 3.16% in the prior year [2] - Non-performing loans stood at 0.14% of total loans, indicating excellent credit quality [3] - Tangible book value per share increased 10.8% year-over-year to $11.97 [3] - GAAP-diluted EPS was reported at $0.07, with operational diluted EPS at $0.44 [4] Business Line Data and Key Metrics Changes - Average loans increased $31.9 million, or 6.02% annualized compared to the prior quarter [10] - Gross loan production totaled $196 million in Q4, with 43% from correspondent banking [12] - Average deposits were stable, down $3.9 million compared to the prior quarter but up $314.6 million year-over-year [10] - Non-interest income was $3.3 million for Q4, consistent with prior quarters, excluding the securities loss [21] Market Data and Key Metrics Changes - The bank's loan portfolio increased to just under $2.2 billion, with commercial real estate representing 57% [19] - The average interest-bearing deposit rates decreased to 3.02%, down from 3.29% in the third quarter [10] - The bank's balance sheet is liability sensitive, with 61% of the loan portfolio being variable-rate or hybrid [15] Company Strategy and Development Direction - The company aims to expand and strengthen its deposit base, focusing on relationship-driven growth rather than rate-driven [26] - Key business lines include Business Banking, Private Client Group, Association Banking, and Correspondent Banking, each with clear plans for growth [26][27] - The strategy for 2026 includes launching a new lending and deposit gathering team in targeted markets [26] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the bank's ability to build back deposits lost at year-end and emphasized the importance of deposit growth for 2026 [36] - The company anticipates further NIM improvement supported by rate cuts and ongoing execution of its deposit strategy [13] - The tax expense is expected to be modeled at 26.4% going forward, reflecting compliance with state tax liabilities [9][57] Other Important Information - The board approved a 25% increase in the quarterly cash dividend to $0.12 per share [5] - The company completed a $40 million subordinated debt issuance, primarily used for share repurchase [3] Q&A Session Summary Question: Deposit trends and year-end shrinkage - Management noted a significant deposit move of over $100 million from a long-term client, which is expected to rebuild over time [36] Question: Loan-to-deposit ratio preferences - Management prefers a loan-to-deposit ratio between 90-95% for optimal liquidity [39] Question: SBA vertical expansion - The SBA initiative has been growing prudently, with plans to increase annual volume to $40-50 million over the next three years [42] Question: Capital strategy and priorities for 2026 - The focus remains on building capital and returning it to shareholders, with no significant plans for new initiatives beyond organic growth [47] Question: Margin expectations for the first quarter - Management expects NIM to be flat to slightly up in the first quarter, influenced by deposit runoff and potential rate cuts [54] Question: Expense outlook and new hires - The expense base is expected to gradually increase with new hires, targeting a low 50% efficiency ratio [66] Question: Fee income outlook - Non-interest income is anticipated to build around $3.5-$3.8 million for 2026, driven by various fee-generating activities [68]

EARNINGS PRESENTATION FOURTH QUARTER 2025 NASDAQ: USCB 1 FORWARD-LOOKING STATEMENTS This presentation 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," "e ...

Economic Overview - The U.S. economy shows resilience with a GDP growth of 4.4% in Q3 2025, up from 3.8% in the previous quarter, driven by a 3.5% increase in consumer spending, the fastest in three years [1] - The AI-driven boom and the Federal Reserve's supportive monetary policy are contributing factors to the economic expansion [1] Inflation and Labor Market - The Personal Consumption Expenditures index for November is at 2.8% year over year, up from 2.7% in October, remaining above the 2% target [2] - Unemployment is stable at around 4.4%, but job openings are decreasing, indicating potential labor market concerns [2] - Analysts predict cooling economic conditions due to uncertainties related to tariffs and trade policies [2] Dividend-Paying Stocks - Investors looking to diversify can consider dividend-paying stocks, which indicate a healthy business model and can withstand market volatility [3] - Stocks with recent dividend increases tend to have a sound financial structure and outperform non-dividend-paying stocks in volatile markets [3] USCB Financial - USCB Financial, a community bank, has declared a dividend of 13 cents per share with a dividend yield of 2% [4] - Over the past five years, USCB has increased its dividend twice, with a payout ratio of 25% of earnings [5] Amalgamated Financial - Amalgamated Financial, a full-service commercial bank, announced a dividend of 17 cents per share and has a dividend yield of 1.6% [6] - The company has increased its dividend four times in the past five years, with a payout ratio of 16% of earnings [7] Cadre Holdings - Cadre Holdings, a manufacturer of safety equipment, declared a dividend of 10 cents per share with a yield of 0.9% [10] - The company has increased its dividend three times in the past five years, with a payout ratio of 34% of earnings [10] Cadence Bank - Cadence Bank announced a dividend of 34 cents per share, yielding 2.4% [11] - The bank has increased its dividend six times over the past five years, with a payout ratio of 37% of earnings [11] Metropolitan Bank Holding - Metropolitan Bank Holding declared a dividend of 20 cents per share with a yield of 0.7% [12] - The bank has increased its dividend once in the past five years, with a payout ratio of 10% of earnings [13]

Core Insights - USCB Financial Holdings, Inc. reported revenue of $25.53 million for the quarter ended December 2025, marking an 11% year-over-year increase, while EPS rose to $0.44 from $0.34 a year ago [1] - The reported revenue fell short of the Zacks Consensus Estimate of $26.11 million, resulting in a surprise of -2.24%, and the EPS also missed the consensus estimate of $0.51 by -13.73% [1] Financial Performance Metrics - The efficiency ratio was reported at 79.2%, significantly higher than the estimated average of 49.6% by three analysts [4] - The net interest margin stood at 3.3%, aligning with the average estimate based on three analysts [4] - Average interest-earning assets were $2.7 billion, slightly below the average estimate of $2.75 billion from two analysts [4] - Total non-performing loans amounted to $3.14 million, exceeding the average estimate of $1.41 million from two analysts [4] - Net charge-offs to average loans were reported at 0%, compared to the average estimate of 0.1% [4] - Net interest income before provision for loan losses was $22.21 million, slightly below the average estimate of $22.65 million from three analysts [4] - Total non-interest income was $3.32 million, lower than the average estimate of $3.79 million from three analysts [4] - Gain on sale of loans held for sale, net, was $0.2 million, slightly above the estimated average of $0.18 million from two analysts [4] Stock Performance - USCB Financial shares have returned +7.1% over the past month, outperforming the Zacks S&P 500 composite, which changed by +0.7% [3] - The stock currently holds a Zacks Rank 1 (Strong Buy), indicating potential for outperformance in the near term [3]

Core Viewpoint - USCB Financial Holdings, Inc. reported quarterly earnings of $0.44 per share, missing the Zacks Consensus Estimate of $0.51 per share, but showing an increase from $0.34 per share a year ago, indicating a -13.73% earnings surprise [1] Financial Performance - The company posted revenues of $25.53 million for the quarter ended December 2025, which was 2.24% below the Zacks Consensus Estimate, compared to $22.99 million in the same quarter last year [2] - Over the last four quarters, USCB Financial has surpassed consensus EPS estimates two times and topped consensus revenue estimates just once [2] Stock Performance - USCB Financial shares have increased approximately 10.6% since the beginning of the year, outperforming the S&P 500's gain of 0.4% [3] Future Outlook - The company's earnings outlook is crucial for investors, with current consensus EPS estimates at $0.51 for the coming quarter and $2.17 for the current fiscal year, alongside expected revenues of $26.63 million and $111.61 million respectively [7] - The Zacks Rank for USCB Financial is currently 1 (Strong Buy), indicating expectations for the stock to outperform the market in the near future [6] Industry Context - The Zacks Industry Rank for Banks - Southeast is in the top 32% of over 250 Zacks industries, suggesting that companies in this sector are likely to perform better than those in the bottom 50% [8]

Core Viewpoint - USCB Financial Holdings, Inc. reported a significant decline in net income for Q4 2025, with net income of $1.4 million or $0.07 per diluted share, down from $6.9 million or $0.34 per diluted share in Q4 2024, primarily due to strategic portfolio restructuring and tax liabilities [1][2][3] Profitability - Fully diluted EPS for Q4 2025 was $0.07, reflecting an after-tax impact of ($0.31) per diluted share from a portfolio restructuring strategy and an additional ($0.06) per diluted share related to tax liabilities from prior periods [2] - Operating diluted EPS for Q4 2025, excluding these impacts, was $0.44, consistent with the prior quarter [2] - Return on average assets (ROAA) for Q4 2025 was 0.19%, down from 1.08% in Q4 2024, while operating ROAA was 1.14%, slightly up from 1.08% [6] - Return on average equity (ROAE) for Q4 2025 was 2.55%, down from 12.73% in Q4 2024, while operating ROAE was 15.05%, up from 12.73% [6] Balance Sheet - Total assets increased to $2.8 billion at December 31, 2025, an increase of $210.3 million or 8.1% from $2.6 billion at December 31, 2024 [5] - Total loans held for investment rose to $2.2 billion, an increase of $216.4 million or 11.0% from $2.0 billion at December 31, 2024 [10] - Total deposits reached $2.3 billion, up by $171.1 million or 7.9% from $2.2 billion at December 31, 2024 [10] - Total stockholders' equity was $217.2 million, an increase of $1.8 million or 0.8% from $215.4 million at December 31, 2024 [10] Asset Quality - The allowance for credit losses increased by $1.4 million to $25.5 million at December 31, 2025, representing 1.16% of total loans, down from 1.22% at December 31, 2024 [10] - The provision for credit loss was $480 thousand for Q4 2025, a decrease of $550 thousand compared to $1.0 million for Q4 2024 [10] - The ratio of non-performing loans to total loans was 0.14% for both quarters ended December 31, 2025, and December 31, 2024 [10] Non-interest Income and Non-interest Expense - Non-interest income was negative $4.2 million for Q4 2025, compared to positive income of $3.6 million for Q4 2024, primarily due to a $7.5 million pre-tax loss on the sale of securities [10] - Non-interest expense for Q4 2025 was $14.3 million, compared to $12.9 million for Q4 2024 [10] Capital - The total risk-based capital ratios for the Company and the Bank were 13.91% and 13.67%, respectively, well above regulatory requirements [10] - Tangible book value per common share was $11.97 at December 31, 2025, an increase of $1.16 or 10.8% from $10.81 at December 31, 2024 [10]