USCB Q3 net income $3.8M ($0.19 EPS), down 32% YoY; NIM contracts to 2.60%

USCB FINANCIAL HOLDINGS, INC.

Net income $3.8M ($0.19 diluted EPS) vs $5.6M ($0.28) in Q3 2022; NII $14.0M, down 16.4% YoY.
Net interest margin 2.60% vs 3.47% YoY; September NIM improved to 2.70%.
Total loans $1.7B (+17.1% YoY); new loan weighted avg coupon 8.00%.
Efficiency ratio 64.64% vs 54.58% YoY; non-interest expense up 3.2%.
Tangible book value $9.36 per share, impacted by $51.2M AOCI ($2.62 per share).

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

USCB FINANCIAL HOLDINGS, INC. reported third quarter ended September 30, 2023 results: net income $3.8 million, EPS $0.19 per diluted share.

Period: third quarter ended September 30, 2023
Net income: $3.8 million
EPS: $0.19 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 $3.8 million or $0.19 per diluted share for the three months ended September 30, 2023, compared with net income of $5.6 million or $0.28 per diluted share, for the same period in 2022.

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Source: SEC EDGAR

accession 0001562762-23-000381

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