1
Exhibit 99.1
EARNINGS RELEASE
USCB Financial Holdings, Inc. Reports EPS of $0.29 and ROAA of
1.11%
for Q1 2023
MIAMI, FL
– April
27, 2023
– 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.
"The beginning
of 2023
was marked
by significant
events such
as the
sudden failure
of three
banks, prompting
heightened concerns
about the safety and
soundness of the banking industry,
and ongoing discussions of a
potential recession. Despite these
challenges, we
are pleased to announce that the USCB team delivered strong performance in the first quarter of 2023,
reflecting our ability to navigate
this challenging
operating environment
with prudent
consistency.
Our financial
results demonstrate
robust earnings,
driven by
strong
loan
production,
and
disciplined
credit
underwriting
and
risk
management
practices”
said
Luis
de
la
Aguilera,
President
and
Chief
Executive
Officer.
"Our strength
and stability
are reinforced
by our
growing core
customer relationships,
which have
enabled us
to
build a granular deposit base and diversified loan portfolio,
in one of the most vibrant markets in the United States.” Mr. de la Aguilera
went on to say,
“ our deposits are derived primarily
from our local customers and communities.
We do
not have any material exposure
を暗号通貨か投資か暗号関連ビジネスのいずれかにする。"
Unless otherwise
stated,
all percentage
comparisons
in
the bullet
points
below
are
calculated
for
the
quarter
ended
March 31,
2023
compared to the quarter ended March 31, 2022 and annualized where
appropriate.
Profitability
•
Annualized return
on average
assets for
the quarter
ended March 31,
2023 was
1.11%
compared to
1.03% for
the first
quarter of
•
Annualized return
on average stockholders’
equity for the
quarter ended March
31, 2023 was
12.85%
compared to 9.75%
for the
•
The efficiency ratio for the quarter ended March 31, 2023
was 56.32%
compared to 58.88%
for the first quarter of 2022.
•
Net interest margin was 3.22% for both quarters ended March 31, 2023
and 2022.
•
Net
interest
income
before
provision
for
credit
losses
was
$16.0
million
for
the
quarter
ended
March 31,
2023,
an
increase
of
$1.6 million or 11.3% compared to the
first quarter of 2022.
Balance Sheet
•
Total assets were $2.2
billion at March 31, 2023, representing an increase of $196.6 million or 10.0%
from March 31, 2022.
•
Total loans were $1.6
billion at March 31, 2023, representing an increase of $322.0 million or 25.6%
from March 31, 2022.
•
Total deposits were $1.
8
billion at March 31, 2023, representing an increase of $117.2
million or 6.8% from March 31, 2022.
•
Total stockholders’
equity was $183.9 million at March 31, 2023,
representing a decrease of $8.2 million
or 4.3% from March 31,
2022. Total stockholders’ equity includes after-tax unrealized security losses of $42.1 million at March 31, 2023 compared to
after-
2022年3月31日現在、19.5百万ドルの未実現有価証券評価損を計上しています。
Asset Quality
•
Effective
January
1,
2023,
the
Company
adopted
ASU
2016-13
Current
Expected
Credit
Losses
(“CECL”)
methodology
for
estimating credit losses, which
resulted in an increase to
the allowance for credit losses
of loans of $1.1 million
and an increase to
the reserve for unfunded commitments of $259 thousand.
This one-time cumulative adjustment resulted in an after-tax
decrease of
$1.0
million in retained earnings.
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