USCB Financial Q4 GAAP EPS $0.22, operating $0.29; securities sale loss $1.5M

USCB FINANCIAL HOLDINGS, INC.

Net income $4.4M ($0.22 diluted EPS) vs $5.7M ($0.30) in Q4 2021; Non-GAAP operating net income $5.9M ($0.29) vs $5.6M ($0.30).
Sold $17.0M lower-yielding securities after-tax loss of $1.5M ($0.07 EPS); reinvestment expected to add $0.03 EPS in 2023.
Net interest margin expanded to 3.45% from 3.19%; net interest income up 19.8% to $16.9M.
Total loans grew 26.7% YoY to $1.5B; total deposits up 15.0% to $1.8B; total assets $2.1B.
Stockholders' equity down 10.5% to $182.4M due to $44.8M unrealized securities losses; tangible book value $9.12/share.

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

USCB FINANCIAL HOLDINGS, INC. reported the fourth quarter ended December 31, 2022 results: net income $4.4 million, EPS $0.22 per diluted share.

Period: the fourth quarter ended December 31, 2022
Net income: $4.4 million
EPS: $0.22 per diluted share
Result: reported results

Exact text from the filing

USCB Financial Holdings, Inc. (the “Company”) (NASDAQ: USCB) , the holding company for U.S. Century Bank (the “Bank”), reported net income of $4.4 million or $0.22 per diluted share for the three months ended December 31, 2022, compared with net income of $5.7 million or $0.30 per diluted share, for the same period in 2021.

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Source: SEC EDGAR

accession 0001562762-23-000024

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