Forward-looking statements are those that are not historical facts. The words “may,” “will,” “anticipate,” “should,” “would,” “believe,” “contemplate,” “expect,” “aim,” “plan,” “estimate,” “continue,” and “intend,” as well as other similar words and expressions of the future, are intended to identify forward-looking statements. These forward-looking statements include, but are not limited to, statements related to our projected growth, anticipated future financial performance, and management’s long-term performance goals, as well as statements relating to the anticipated effects on results of operations and financial condition from expected developments or events, or business and growth strategies, including anticipated internal growth and balance sheet restructuring. These forward-looking statements involve significant risks and uncertainties that could cause our actual results to differ materially from those anticipated in such statements. Potential risks and uncertainties include, but are not limited to: • the strength of the United States economy in general and the strength of the local economies in which we conduct operations; • our ability to successfully manage interest rate risk, credit risk, liquidity risk, and other risks inherent to our industry; • the accuracy of our financial statement estimates and assumptions, including the estimates used for our credit loss reserve and deferred tax asset valuation allowance; • the efficiency and effectiveness of our internal control environment; • our ability to comply with the extensive laws and regulations to which we are subject, including the laws for each jurisdiction where
we operate; • adverse changes or conditions in capital and financial
markets, including actual or potential stresses in the banking industry;
deposit attrition and the level of our uninsured deposits; legislative
or regulatory changes and changes in accounting principles,
policies, practices or guidelines, including the on-going effects
of the implementation of the Current Expected Credit Losses (“CECL”)
standard; • the effects of our lack of a diversified loan portfolio and
concentration in the South Florida market, including the
risks of geographic, depositor, and industry concentrations, including
our concentration in loans secured by real estate; effects
of climate change; • the concentration of ownership of our common
stock; • fluctuations in the price of our common stock; • our ability
to fund or access the capital markets at attractive rates and terms
and manage our growth, both organic growth as well as growth
through other means, such as future acquisitions; • inflation, interest rate,
unemployment rate, market, and monetary fluctuations; impacts
of international hostilities and geopolitical events; • increased
competition and its effect on the pricing of our products and services
as well as our margin; • the effectiveness of our risk management strategies,
including operational risks, including, but not limited to, client,
employee, or third-party fraud and security breaches; and • other
risks described in this presentation and other filings we make with the
Securities and Exchange Commission (“SEC”). All forward
-looking statements are necessarily only estimates of future results, and
there can be no assurance that actual results will not differ
materially from expectations. Therefore, you are cautioned not to place
undue reliance on any forward-looking statements. Further, forward
-looking statements included in this presentation are made only as of the
date hereof, and we undertake no obligation to update or revise any
forward-looking statements to reflect events or circumstances after the date on which the statements are made or to reflect the occur rence of unanticipated events, unless required to do so under the federal securities laws. You should also review the risk factors described in the reports USCB Financial Holdings, Inc. filed or will file with the SEC and, for periods prior to the completion of the bank holding company reorganization in December 2021, U.S. Century Bank filed with the FDIC. Non-GAAP Financial Measures This presentation includes financial information determined by methods other than in accordance with generally accepted accounting principles (“GAAP”). This financial information includes certain operating performance measures. Management has included these non-GAAP measures because it believes these measures may provide useful supplemental information for evaluating the Company’s underlying performance trends. Further, management uses these measures in managing and evaluating the Company’s business and intends to refer to them in discussions about our operations and performance. Operating performance measures should be viewed in addition to, and not as an alternative to or substitute for, measures determined in accordance with GAAP, and are not necessarily comparable to non-GAAP measures that may be presented by other companies. Reconciliations of these non -GAAP measures to the most directly comparable GAAP measures can be found in the ‘Non-GAAP Reconciliation Tables’ included in the presentation. All numbers included in this presentation are unaudited unless otherwise noted. 2 Q1 2023 HIGLIGHTS GROWTH Average deposits increased by $194.0 million or 11.8% compared to first quarter 2022.
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