USCB Financial Q1 net income $5.8M, EPS $0.29, vs $0.24 YoY; loans up 25.6%

USCB FINANCIAL HOLDINGS, INC.

Net income $5.8M ($0.29 diluted EPS) vs $4.9M ($0.24) in Q1 2022; ROAA 1.11% vs 1.03%.
Net interest income $16.0M, up 11.3% YoY; net interest margin stable at 3.22%.
Total loans $1.6B (+25.6% YoY), deposits $1.8B (+6.8%); NPLs just 0.03%.
Adopted CECL effective Jan 1, 2023; one-time $1.0M after-tax retained earnings reduction.
Repurchased 500k shares at $11.74 avg, $5.9M total; 250k shares remain authorized.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

USCB FINANCIAL HOLDINGS, INC. reported first quarter ended March 31, 2023 results: net income net income of $5.8 million, EPS $0.29 per diluted share.

Period: first quarter ended March 31, 2023
Net income: net income of $5.8 million
EPS: $0.29 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 $5.8 million or $0.29 per diluted share for the three months ended March 31, 2023, compared with net income of $4.9 million or $0.24 per diluted share, for the same period in 2022.

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Source: SEC EDGAR

accession 0001562762-23-000176

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