Financial Performance - USCB Financial Holdings reported a record fully diluted EPS of $0.38 for Q1 2025, a 65% increase from $0.23 in Q1 2024[1][2]. - Net income for Q1 2025 was $7.7 million, compared to $4.6 million in the same period last year, reflecting a significant year-over-year growth[1][2]. - Net income for Q1 2025 reached $7,658 million, compared to $4,612 million in Q1 2024, reflecting a significant increase of 66.4%[21]. - The company reported a pre-tax pre-provision (PTPP) income of $10,779,000 for Q1 2025, up from $6,448,000 in Q1 2024, a significant increase of 67.5%[30]. - The operating return on average assets for Q1 2025 was 1.19%, up from 0.76% in Q1 2024, indicating improved asset utilization[30]. Asset Growth - Total assets increased by $188.2 million or 7.6% to $2.7 billion as of March 31, 2025, compared to $2.5 billion a year earlier[6]. - Total assets as of March 31, 2025, were $2,677,382 million, up from $2,489,142 million a year earlier, indicating a growth of 7.6%[21]. - Total assets as of March 31, 2025, were $2,606,593,000, up from $2,436,103,000 as of March 31, 2024, indicating a growth of 7%[30]. - Average assets for Q1 2025 were $2,606,593,000, compared to $2,436,103,000 in Q1 2024, reflecting a year-over-year increase of 7%[30]. Loan and Deposit Growth - Total loans held for investment rose by $215.0 million or 11.8% to $2.0 billion in Q1 2025, compared to $1.8 billion in Q1 2024[6]. - Total deposits grew by $206.8 million or 9.8% to $2.3 billion as of March 31, 2025, compared to $2.1 billion a year earlier[6]. - Total deposits increased to $2,309,569 million as of March 31, 2025, compared to $2,102,794 million a year ago, marking a growth of 9.8%[21]. Income and Efficiency - Net interest income for Q1 2025 was $19,115 million, an increase from $15,158 million in Q1 2024, representing a year-over-year growth of 26.5%[21]. - The net interest margin improved to 3.10% in Q1 2025 from 2.62% in Q1 2024, reflecting enhanced profitability on interest-earning assets[27]. - The efficiency ratio improved to 52.79% in Q1 2025 from 63.41% in Q1 2024, reflecting better cost management[6]. - The operating efficiency ratio decreased to 52.79% in Q1 2025 from 63.41% in Q1 2024, indicating improved cost management[30]. Dividends and Shareholder Returns - The Company declared a quarterly cash dividend of $0.10 per share, up from $0.05 in the previous year, to be paid on June 5, 2025[13]. - Cash dividends declared increased to $0.10 per share in Q1 2025, compared to $0.05 per share in Q1 2024[21]. Credit Quality - The provision for credit losses was $681 thousand in Q1 2025, an increase of $271 thousand from $410 thousand in Q1 2024[13]. - The allowance for credit losses to total loans ratio remained stable at 1.22% as of March 31, 2025[24]. - Non-performing loans increased to $4,156 million as of March 31, 2025, from $456 million in Q1 2024, indicating a rise in asset quality concerns[24]. Capital Position - The leverage ratio improved to 9.61% as of March 31, 2025, compared to 8.91% a year earlier, reflecting a stronger capital position[21]. - The tangible book value per common share increased to $11.23 as of March 31, 2025, compared to $9.92 a year earlier, marking a growth of 13.2%[33].

Core Viewpoint - USCB Financial Holdings, Inc. is set to report its financial results for the quarter ended March 31, 2025, on April 24, 2025, after market close [1] Group 1: Financial Reporting - The financial results will be discussed in a conference call on April 25, 2025, at 11:00 am Eastern Time, featuring key executives including the Chairman, President, and CEO, Luis de la Aguilera [1][2] - A live audio webcast of the conference call will be available on the investor relations page of the Company's website [2] - A replay of the webcast will be archived shortly after the conference call concludes [3] Group 2: Company Overview - USCB Financial Holdings, Inc. is the bank holding company for U.S. Century Bank, established in 2002, and is one of the largest community banks in Miami and Florida [4] - U.S. Century Bank holds a 5-Star rating from BauerFinancial, indicating strong financial health [4] - The bank offers a wide range of financial products and services and actively supports community organizations [4]

Group 1 - USCB Financial Holdings, Inc. (USCB) shares increased by 5.5% to close at $19.33, following a solid trading volume, contrasting with a 4.5% loss over the past four weeks [1] - The stock rally is attributed to the Federal Reserve's decision to keep interest rates steady, which is expected to improve the company's net interest income and margin [2] - USCB is projected to report quarterly earnings of $0.38 per share, reflecting a year-over-year increase of 65.2%, with revenues anticipated at $23.04 million, up 30.8% from the previous year [2] Group 2 - The consensus EPS estimate for USCB has remained unchanged over the last 30 days, indicating that stock price movements may not sustain without trends in earnings estimate revisions [4] - USCB Financial holds a Zacks Rank of 3 (Hold), while another company in the same industry, Origin Bancorp (OBK), has a Zacks Rank of 1 (Strong Buy) [4] - Origin Bancorp's consensus EPS estimate is $0.68, which is a decrease of 6.9% compared to the previous year [5]

Regulatory Environment - The company operates in a highly regulated environment, subject to extensive regulation and supervision by federal and state agencies, which could adversely affect its operations and financial condition [230]. - The company is required to maintain 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 under Basel III rules [238]. - The company currently meets the Basel III capital requirements but may face challenges in maintaining compliance in the future, which could impact growth initiatives and investor confidence [239]. - The company has dedicated significant resources to its anti-money laundering program due to increased regulatory scrutiny, especially in high-risk areas like South Florida [233]. - Regulatory changes, such as those from the Dodd-Frank Act, could impose additional compliance costs and operational restrictions on the company [232]. - The company may incur costs related to improving its internal control systems to comply with Section 404 of the Sarbanes-Oxley Act [228]. - The company faces risks of noncompliance with the Bank Secrecy Act, which could lead to significant penalties and reputational damage [233]. - The company is subject to periodic examinations by banking agencies, which could result in remedial actions that negatively impact its operations [241]. - The company must obtain regulatory approvals for many activities, and failure to do so could restrict its business operations [230]. - Heightened regulatory scrutiny following recent banking stresses could lead to increased compliance costs and operational risks for the company [236]. - The company is subject to numerous laws and regulations, including the Community Reinvestment Act, which could lead to sanctions if not complied with [243]. Financial Performance - Total assets increased to $2,581,216 thousand in 2024 from $2,339,093 thousand in 2023, representing a growth of 10.4% [456]. - Net income rose to $24,674 thousand in 2024, up 49% from $16,545 thousand in 2023 [459]. - Total interest income increased to $131,233 thousand in 2024, a 30% increase from $101,017 thousand in 2023 [459]. - Loans held for investment grew to $1,948,778 thousand in 2024, compared to $1,759,743 thousand in 2023, marking an increase of 10.7% [456]. - Total deposits reached $2,174,004 thousand in 2024, up 12.2% from $1,937,139 thousand in 2023 [456]. - Net interest income after provision for credit losses was $66,779 thousand in 2024, a 19% increase from $56,201 thousand in 2023 [459]. - Non-interest income increased to $12,740 thousand in 2024, up 72% from $7,403 thousand in 2023 [459]. - The provision for credit losses was $3,157 thousand in 2024, compared to $2,367 thousand in 2023, reflecting a 33.4% increase [459]. - Total stockholders' equity increased to $215,388 thousand in 2024 from $191,968 thousand in 2023, a rise of 12.1% [456]. - Net income per share, basic, increased to $1.25 in 2024 from $0.84 in 2023, representing a growth of 49% [459]. - Net cash provided by operating activities rose to $34,090 thousand in 2024, up from $22,546 thousand in 2023, an increase of 51.2% [471]. - The net increase in deposits for 2024 was $236,865 thousand, compared to $107,858 thousand in 2023, reflecting a growth of 119.5% [471]. - Cash and cash equivalents at the end of 2024 were $77,035 thousand, up from $41,062 thousand at the end of 2023, marking an increase of 87.6% [471]. - The net cash used in investing activities decreased to $211,861 thousand in 2024 from $273,002 thousand in 2023, a reduction of 22.4% [471]. - The company reported interest paid of $60,544 thousand in 2024, up from $41,306 thousand in 2023, an increase of 46.5% [471]. - The net cash provided by financing activities was $213,744 thousand in 2024, compared to $237,350 thousand in 2023, a decrease of 10.0% [471]. Loan Portfolio and Credit Quality - The Company had a concentration of risk with loans outstanding to the top ten lending relationships totaling $236.2 million, representing 12.0% of net loans outstanding as of December 31, 2024 [509]. - The Company segments its loan portfolio based on collateral codes to establish reserves, utilizing regression models based on peer data for loans of similar risk characteristics [502]. - The Company’s loan portfolio is concentrated largely in real estate and commercial loans in South Florida, which could be adversely impacted by negative conditions in the local economy [507]. - The Company applies qualitative adjustments to expected credit losses to account for risk factors not captured in quantitative analysis [503]. - The allowance for credit losses (ACL) was $24.1 million as of December 31, 2024, compared to $21.1 million in 2023, indicating a rise of 14.2% [573]. - The provision for credit losses for 2024 was $2,960 thousand, compared to $2,503 thousand in 2023, indicating a 18.2% increase year-over-year [578]. - Total loans outstanding increased from $1,778,644 thousand as of December 31, 2023, to $1,965,218 thousand as of December 31, 2024, reflecting a growth of 10.5% [590]. - The total balance of collectively evaluated loans rose from $20,811 thousand in 2023 to $23,352 thousand in 2024, marking a 12.9% increase [579]. - The company reported a total of $2,280 thousand in substandard loans as of December 31, 2024, compared to $9,481 thousand in 2023, indicating a decrease of 76.0% [590]. - The total charge-offs for 2024 were $19 thousand, compared to $57 thousand in 2023, showing a decrease of 66.7% [578]. - The company’s recoveries increased from $85 thousand in 2023 to $45 thousand in 2024, reflecting a decrease of 47.1% [578]. - As of December 31, 2024, total accruing loans amounted to $1,962,511 thousand, with non-accruing loans totaling $2,707 thousand [592]. - Non-accrual loans with related allowance as of December 31, 2024, were $2,393 thousand, compared to $468 thousand in 2023, reflecting a significant increase [596]. - The company had two collateral-dependent loans as of December 31, 2024, with a recorded investment of $1,990 thousand [599]. Securities and Investments - The total amortized cost of available-for-sale investment securities as of December 31, 2024, was $310.9 million, with unrealized losses amounting to $51.2 million, resulting in a fair value of $260.2 million [551]. - For the year ended December 31, 2024, the proceeds from sales and calls of available-for-sale securities were $34.8 million, with net realized gains of $14 thousand [556]. - The allowance for credit losses on securities held-to-maturity was reported as $(6) thousand, indicating a minimal impact on the overall financial position [551]. - The total unrealized losses retained in accumulated other comprehensive income (AOCI) for securities transferred from available-for-sale to held-to-maturity was $9.3 million as of December 31, 2024 [555]. - The company reported a total of $164.7 million in held-to-maturity securities, net of allowance for credit losses, as of December 31, 2024 [551]. - The company monitors credit quality of held-to-maturity securities quarterly, with all such securities rated investment grade as of December 31, 2024 [564]. - The unrealized losses on investment securities were attributed to changes in interest rates rather than credit quality, reflecting management's assessment [567]. - The company had $66.1 million in securities pledged to the State of Florida under the public funds program as of December 31, 2024, down from $86.9 million in 2023 [569]. Accounting and Reporting - The company has elected to use an extended transition period for complying with new accounting standards, which may affect the comparability of its financial statements with other public companies [256]. - The adoption of ASU 2016-13 on January 1, 2023, resulted in an increase to the allowance for credit losses (ACL) on loan receivables of $1.1 million and a reserve for unfunded commitments of $259 thousand, leading to a cumulative adjustment of $1.0 million in accumulated deficit [545]. - As of January 1, 2023, 84% or $1.3 billion of loan receivables were evaluated under the Discounted Cash Flow (DCF) method, while 16% or $251 million were evaluated under the Remaining Life method [543]. - The company implemented ASU 2022-02 concurrently with ASU 2016-13, enhancing disclosures related to troubled debt restructurings [546]. - The impact of adopting CECL included an increase in the allowance for credit losses and adjustments to the deferred tax asset, reflecting changes in credit loss measurement methodologies [545]. Corporate Governance and Ownership - Significant investors, including Patriot Financial Partners and Priam Capital Fund, own approximately 22.4% and 22.5% of the company's Class A common stock, respectively, influencing corporate governance and decision-making [257]. - The company's ability to pay dividends is subject to restrictions and depends on the profitability of its bank subsidiary, which is regulated by the FDIC [248]. - The market price and trading volume of the company's Class A common stock may be volatile, influenced by various external factors unrelated to its performance [249]. - The company's governing documents include provisions that may have an anti-takeover effect, potentially delaying or preventing acquisitions [260].

Financial Data and Key Metrics - Diluted EPS increased from $0 14 in Q4 2023 to $0 34 in Q4 2024, more than doubling year-over-year [3] - Net interest margin expanded due to the company's focus on reducing deposit costs, contributing to solid profitability [3] Business Line Performance - The company achieved strong gains in assets, deposits, diversified quality loan production, and profitability, driven by disciplined execution of its commercial banking initiatives [3] Market Performance - The company benefited from Florida's strong, resilient, and growing economy, which supported its performance [3] Strategic Direction and Industry Competition - The company's business plan focuses on commercial banking initiatives aimed at profitably expanding existing client relationships and growing new ones [3] Management Commentary on Operating Environment and Future Outlook - Management highlighted the company's record year, outperforming internal budgets and delivering impressive results for shareholders [3] - The company's performance underscores its disciplined execution and focus on profitability [3] Other Important Information - The company's Q4 2024 results were reviewed by the President and CEO, CFO, and Chief Credit Officer, with highlights commencing on Slide 3 [2] Q&A Session - No Q&A session details were provided in the content

EARNINGS PRESENTATION FOURTH QUARTER 2024 NASDAQ: USCB 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," "exp ...

Core Insights - USCB Financial Holdings, Inc. reported quarterly earnings of $0.34 per share, missing the Zacks Consensus Estimate of $0.37 per share, but showing an increase from $0.17 per share a year ago, resulting in an earnings surprise of -8.11% [1] - The company posted revenues of $22.99 million for the quarter ended December 2024, surpassing the Zacks Consensus Estimate by 3.77%, compared to year-ago revenues of $15.7 million [2] - USCB Financial shares have increased by approximately 2.9% since the beginning of the year, while the S&P 500 has gained 3.5% [3] Earnings Outlook - The current consensus EPS estimate for the upcoming quarter is $0.37 on revenues of $22.41 million, and for the current fiscal year, it is $1.53 on revenues of $93.99 million [7] - The estimate revisions trend for USCB Financial is mixed, leading to a Zacks Rank 3 (Hold) for the stock, indicating expected performance in line with the market [6] Industry Context - The Banks - Southeast industry, to which USCB Financial belongs, is currently in the top 20% of over 250 Zacks industries, suggesting a favorable outlook compared to the bottom 50% [8] - Another company in the same industry, Renasant (RNST), is expected to report quarterly earnings of $0.61 per share, reflecting a year-over-year change of -19.7%, with revenues projected at $165.37 million, up 13% from the previous year [9][10]

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 ...