USCB Financial (US:USCB)2025-10-23 20:00Financial Performance - USCB Financial Holdings reported a record fully diluted EPS of $0.45 for Q3 2025, up from $0.35 in Q3 2024, representing a 28.6% increase[1][2] - Net income for Q3 2025 was $8.9 million, compared to $6.9 million for the same period in 2024, reflecting a 28.9% year-over-year growth[1][2] - Basic net income per common share for Q3 2025 was $0.46, up from $0.35 in Q3 2024, reflecting a 31.4% increase[20] - Net income for Q3 2025 was $8,939,000, representing a 28.6% increase compared to $6,949,000 in Q3 2024[20] - Net income for Q3 2025 reached $8,939 million, an increase from $8,140 million in Q2 2025, representing a growth of 9.8%[31] Asset and Loan Growth - Total assets reached $2.8 billion as of September 30, 2025, an increase of $264 million or 10.5% from $2.5 billion a year earlier[5] - Total loans held for investment grew to $2.1 billion, up $199.6 million or 10.3% from $1.9 billion at the same time last year[5] - Total assets as of September 30, 2025, were $2,767,945,000, an increase from $2,503,954,000 as of September 30, 2024[22] - Loans held for investment reached $2,099,043 thousand, a rise of 11.7% compared to $1,878,230 thousand in the same quarter last year[25] Deposit Growth - Total deposits increased to $2.5 billion, reflecting a rise of $329 million or 15.5% from $2.1 billion in Q3 2024[5] - Total deposits reached $2,455,614,000 as of September 30, 2025, compared to $2,126,617,000 a year earlier, marking a 15.5% growth[22] - Total deposits increased to $2,457,067 thousand, up 18.3% from $2,077,523 thousand a year ago[25] Income and Efficiency - Total interest income for Q3 2025 was $37,720,000, an increase of 12.8% from $33,562,000 in Q3 2024[20] - Net interest income after provision for credit losses for Q3 2025 was $21,169,000, up 23.1% from $17,178,000 in Q3 2024[20] - Non-interest income for Q3 2025 was $3.7 million, a 7.2% increase from $3.4 million in Q3 2024[11] - The efficiency ratio improved to 52.28% in Q3 2025 from 53.16% in Q3 2024, indicating better operational efficiency[5] - Operating efficiency ratio improved to 52.22% in Q3 2025 from 51.77% in Q2 2025, showing enhanced operational efficiency[31] Return Ratios - Annualized return on average assets (ROAA) increased to 1.27% in Q3 2025 from 1.11% in Q3 2024[5] - Annualized return on average stockholders' equity (ROAE) rose to 15.74% in Q3 2025, compared to 13.38% in Q3 2024[5] - Return on average assets improved to 1.27% for the quarter, up from 1.11% in the same quarter last year[25] - Return on average equity increased to 15.74%, compared to 13.38% a year earlier, reflecting a significant enhancement in profitability[25] - Operating return on average assets for Q3 2025 was 1.27%, up from 1.22% in Q2 2025, indicating improved asset utilization[31] Dividends and Shareholder Returns - The Company declared a quarterly cash dividend of $0.10 per share, payable on December 5, 2025, to shareholders of record on November 14, 2025[11] - Cash dividends declared increased to $0.10 per share in Q3 2025, compared to $0.05 per share in Q3 2024[20] Credit Quality - The allowance for credit losses stood at $24,964,000 as of September 30, 2025, slightly up from $23,067,000 a year earlier[22] - Non-performing loans totaled $1,310 thousand, with a non-performing loans to total loans ratio of 0.06%[25] - The allowance for credit losses to total loans ratio stood at 1.17%, consistent with the previous quarter's 1.18%[25] Operational Capacity - Full-time equivalent employees increased to 206, up from 198 a year ago, indicating growth in operational capacity[28] Other Financial Metrics - Tangible book value per common share was $11.55 at the end of Q3 2025, slightly up from $11.53 in Q2 2025[34] - Total stockholders' equity decreased to $209,095 million in Q3 2025 from $231,583 million in Q2 2025, a decline of 9.7%[34] - Tangible Common Equity/Tangible Assets ratio was 7.55% in Q3 2025, down from 8.52% in Q2 2025, reflecting a decrease in capital efficiency[34] - Average assets increased to $2,798,115 million in Q3 2025 from $2,677,198 million in Q2 2025, a growth of 4.5%[31]