USCB Financial Holdings, Inc. (USCB) came out with quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.37 per share. This compares to earnings of $0.17 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of -8.11%. A quarter ago, it was expected that this company would post earnings of $0.32 per share when it actually produced earnings of $0.35, delivering a surprise of 9.38%.Over the last four quarters, ...

MIAMI, Jan. 23, 2025 (GLOBE NEWSWIRE) -- USCB Financial Holdings, Inc. (the “Company”) (NASDAQ: USCB), the holding company for U.S. Century Bank (the “Bank”), reported net income of $6.9 million or $0.34 per fully diluted share for the three months ended December 31, 2024, compared with net income of $2.7 million or $0.14 per fully diluted share for the same period in 2023. “The results in Q4 2024, highlight a record year for USCB. The team outperformed our internal budget and delivered impressive results f ...

Financial Performance - USCB Financial Holdings reported a fully diluted EPS of $0.34 for Q4 2024, up from $0.14 in Q4 2023, representing a 142.9% increase[1][2] - Net income for Q4 2024 was $6.9 million, compared to $2.7 million in Q4 2023, marking a significant year-over-year growth[1][2] - Non-interest income surged to $3.6 million, a 173.5% increase from $1.3 million in Q4 2023[12] - Net income for Q4 2024 was $6,904 thousand, compared to $2,721 thousand in Q4 2023, representing a 153.5% growth[21] - Basic net income per common share for Q4 2024 was $0.35, up from $0.14 in Q4 2023, reflecting a 150% increase[21] - Net income for the three months ended December 31, 2024, was $6,904 million, compared to $2,721 million for the same period last year, representing a year-over-year increase of 154%[35] - Operating revenue for the quarter was $22,985 million, an increase from $16,585 million in the same quarter last year, reflecting a growth of 38.5%[35] Asset and Loan Growth - Total assets reached $2.6 billion at December 31, 2024, an increase of $242.1 million or 10.4% from $2.3 billion a year earlier[6] - Total loans held for investment grew to $2.0 billion, reflecting a $192.0 million or 10.8% increase from $1.8 billion at the end of 2023[6] - Total assets as of December 31, 2024, were $2,581,216 thousand, an increase from $2,339,093 thousand as of December 31, 2023, representing a growth of 10.4%[24] - Loans held for investment increased to $1,972,848 thousand as of December 31, 2024, up from $1,780,827 thousand a year earlier, indicating a growth of 10.8%[24] - Total deposits increased to $2.2 billion, up $236.9 million or 12.2% from $1.9 billion at December 31, 2023[6] - Total deposits rose to $2,174,004 thousand as of December 31, 2024, compared to $1,937,139 thousand as of December 31, 2023, marking a 12.2% increase[24] Efficiency and Cost Management - The efficiency ratio improved to 55.92% in Q4 2024, down from 68.27% in Q4 2023, indicating better cost management[6] - The operating efficiency ratio improved to 55.92% for the quarter ended December 31, 2024, compared to 64.63% in the same quarter last year[35] Dividends and Shareholder Returns - The board approved a quarterly cash dividend of $0.10 per share, doubling the previous dividend, to be paid on March 5, 2025[12] - Cash dividends declared for 2024 were $0.20 per share, compared to no dividends declared in 2023[21] Credit Quality and Allowance for Losses - The allowance for credit losses increased to $24.1 million, representing 1.22% of total loans, compared to 1.18% a year prior[12] - Provision for credit losses increased to $1,030 million for the quarter ended December 31, 2024, up from $410 million in the same quarter last year[35] - The allowance for credit losses to total loans was 1.22%, up from 1.18% a year ago, indicating a conservative approach to credit risk[28] - Non-performing loans totaled $2,707 thousand, with a non-performing loans to total loans ratio of 0.14%[28] Capital and Equity - Total stockholders' equity reached $215,388 million at the end of December 2024, compared to $191,968 million a year earlier, representing a growth of 12.1%[38] - The leverage ratio improved to 9.53% as of December 31, 2024, up from 9.28% a year prior, indicating enhanced capital strength[24] - Tangible book value per common share was $10.81 at the end of December 2024, up from $9.81 a year earlier, indicating a growth of 10.2%[38] - Tangible Common Equity/Tangible Assets ratio was 8.34% at the end of December 2024, down from 8.21% a year ago[38] Interest Income and Margin - Total interest income for Q4 2024 was $34,167 thousand, up 22.3% from $27,976 thousand in Q4 2023[21] - Net interest income after provision for credit losses increased to $18,328 thousand in Q4 2024, a 42.5% rise from $12,901 thousand in Q4 2023[21] - Net interest margin improved to 3.16% for the three months ended December 31, 2024, compared to 2.65% for the same period in 2023[31] Employment - The company employed 199 full-time equivalent employees, a slight increase from 196 employees a year ago[28]

MIAMI, Jan. 21, 2025 (GLOBE NEWSWIRE) -- USCB Financial Holdings, Inc. (the “Company”) (NASDAQ: USCB), the holding company for U.S. Century Bank, announced today that its Board of Directors declared a regular quarterly cash dividend of $0.10 per share of Class A common stock, which represents an increase of $0.05, or 100.0%, per share compared with the previous quarterly dividend of $0.05 per share. The common stock dividend is payable on March 5, 2025, to shareholders of record as of the close of business ...

MIAMI, Jan. 03, 2025 (GLOBE NEWSWIRE) -- USCB FINANCIAL HOLDINGS, INC. (the "Company") (NASDAQ:USCB) will report financial results for the quarter ended December 31, 2024 after the market closes on Thursday, January 23, 2025. A conference call to discuss quarterly results will also be held with Chairman, President, and CEO, Luis de la Aguilera, Chief Financial Officer, Robert Anderson, and Chief Credit Officer, William Turner, details which are provided below. Live Conference Call and Audio Webcast Date: Fr ...

Financial Performance - The company reported net income of $6.9 million or $0.35 per diluted share for the three months ended September 30, 2024, compared to $3.8 million or $0.19 per diluted share for the same period in 2023[83]. - Net income for the three months ended September 30, 2024, was $6,949 thousand, an increase of $3,130 thousand or 82% compared to $3,819 thousand for the same period in 2023[91]. - Net income for Q3 2024 reached $6,949 million, an increase from $6,209 million in Q2 2024 and $4,612 million in Q3 2023[132]. - Operating revenue totaled $21,547 million, compared to $20,508 million in Q2 2024 and $17,622 million in Q3 2023, reflecting a strong growth trajectory[132]. - The annualized return on average assets for the quarter ended September 30, 2024, was 1.11% compared to 0.67% for the same quarter in 2023[83]. - The annualized return on average stockholders' equity for the quarter ended September 30, 2024, was 13.38% compared to 8.19% for the same quarter in 2023[83]. - Operating diluted net income per common share rose to $0.35, compared to $0.31 in Q2 2024 and $0.23 in Q3 2023, reflecting improved profitability[134]. Asset and Loan Growth - Total assets were $2.5 billion at September 30, 2024, representing an increase of $259.4 million or 11.6% from September 30, 2023[83]. - Total loans were $1.9 billion at September 30, 2024, representing an increase of $254.8 million or 15.2% from September 30, 2023[83]. - Total loans increased to $1,931,362 thousand as of September 30, 2024, from $1,780,827 thousand at December 31, 2023, marking an increase of 8.5%[89]. - Total loans, net of deferred fees/costs, increased by $150.5 million, or 11.3% annualized to $1.93 billion as of September 30, 2024, compared to December 31, 2023[105]. - The commercial real estate lending segment represented approximately 56.8% of the total gross loan portfolio as of September 30, 2024[105]. - As of September 30, 2024, approximately 56% of the loans have adjustable/variable rates, while 44% have fixed rates[105]. Deposit Growth - Total deposits were $2.1 billion at September 30, 2024, representing an increase of $205.7 million or 10.7% from September 30, 2023[83]. - Total deposits grew to $2,126,617 thousand as of September 30, 2024, up from $1,937,139 thousand at December 31, 2023, indicating a rise of 9.8%[89]. - Customer deposits totaled $2,077,523 thousand as of September 30, 2024, with an average rate paid of 2.66%[117]. - The average account size of the deposit portfolio was approximately $104,000 as of September 30, 2024[116]. Capital Ratios and Efficiency - As of September 30, 2024, the total risk-based capital ratios for the company and the bank were 13.22% and 13.14%, respectively[83]. - The Bank's total risk-based capital as of September 30, 2024, was $257,212 million, with a ratio of 13.14%, exceeding the minimum capital requirement of $156,587 million (8.00%) by $100,625 million[128]. - Tier 1 risk-based capital stood at $233,606 million with a ratio of 11.93%, surpassing the minimum requirement of $117,440 million (6.00%) by $116,166 million[128]. - The leverage ratio as of September 30, 2024, was 9.28%, well above the minimum requirement of 4.00%[128]. - The efficiency ratio improved to 53.16% for the three months ended September 30, 2024, down from 64.64% for the same period in 2023, showing enhanced operational efficiency[91]. - The operating efficiency ratio improved to 53.16%, down from 56.37% in Q2 2024 and 63.41% in Q3 2023, indicating better cost management[132]. Non-Interest Income and Expenses - Non-interest income increased to $3,438 thousand for the three months ended September 30, 2024, up from $2,161 thousand for the same period in 2023, a growth of 59%[91]. - Non-interest income for Q3 2024 increased by $1.3 million or 59.1% to $3.4 million, primarily due to growth in SWAP loan fees[98]. - Non-interest expense for Q3 2024 increased by $1.0 million or 9.5% to $11.5 million, primarily due to higher salaries and employee benefits[100]. Credit Quality and Provisions - Provision for credit losses for Q3 2024 was $931 thousand, up from $653 thousand in Q3 2023, driven by growth in the loan portfolio[97]. - The allowance for credit losses to total loans ratio was 1.19% as of September 30, 2024, compared to 1.18% as of December 31, 2023[111]. - Non-performing loans totaled $2.725 million as of September 30, 2024, compared to $468 thousand as of December 31, 2023[111]. - The provision for credit losses for the three months ended September 30, 2024, was $831 thousand, compared to a recovery of $673 thousand for the same period in 2023[114]. Legal Matters - The Company faced litigation initiated on July 13, 2023, by three former shareholders, seeking damages exceeding $750,000 plus attorney's fees[137]. - On December 27, 2023, the Court dismissed the litigation with prejudice, ruling in favor of the Defendants[137]. - An appeal was filed by the Plaintiffs on May 1, 2024, challenging the Court's dismissal and claiming errors in the ruling[137]. - The Company believes the appeal lacks merit and intends to vigorously defend against it[137]. - Management assesses that the likelihood of the litigation impacting consolidated results is remote, but acknowledges potential adverse effects from unfavorable outcomes[137]. - The Company intends to defend itself vigorously against any pending or future claims and litigation[137].

USCB Financial Holdings, Inc. (NASDAQ:USCB) Q3 2024 Earnings Conference Call November 1, 2024 8:30 AM ET Company Participants Luis de la Aguilera - Chairman, President & CEO Rob Anderson - CFO Bill Turner - CCO Conference Call Participants Woody Lay - KBW Michael Rose - Raymond James Stephen Scouten - Piper Sandler Operator Good day, and welcome to the Third Quarter 2024 USCB Financial Holdings Inc. Earnings Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's ...

EARNINGS PRESENTATION THIRD QUARTER 2024 NASDAQ: USCB CUSCB FINANCIAL HOLDINGS 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," "belie ...

USCB Financial Holdings, Inc. (USCB) came out with quarterly earnings of $0.35 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.19 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 9.38%. A quarter ago, it was expected that this company would post earnings of $0.24 per share when it actually produced earnings of $0.31, delivering a surprise of 29.17%.Over the last four quarters, ...

MIAMI, Oct. 31, 2024 (GLOBE NEWSWIRE) -- USCB Financial Holdings, Inc. (the “Company”) (NASDAQ: USCB), the holding company for U.S. Century Bank (the “Bank”), reported net income of $6.9 million or $0.35 per fully diluted share for the three months ended September 30, 2024, compared with net income of $3.8 million or $0.19 per fully diluted share for the same period in 2023. “We are proud to report our second consecutive quarter of record fully diluted earnings per share, demonstrating the strength of our s ...