USCBフィナンシャルHDの適時開示・決算・その他

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON,

D.C. 20549

__________________________

FORM

8-K

__________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act

of 1934

Date of Report (Date of earliest event reported):

January 23, 2025

__________________________

USCB Financial Holdings, Inc.

(Exact name of Registrant as Specified in Its Charter)

__________________________

Florida

001-41196

87-4070846

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

2301 N.W. 87th Avenue

Doral

Florida

33172

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone

Number, Including Area Code: (

305

)

715-5200

__________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation

of the registrant under

any of the following provisions:

☐

Written communications pursuant

to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a

-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b)

under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange

Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Class A common stock, $1.00 par value per share

USCB

The Nasdaq Stock Market LLC

Indicate by

check mark

whether the

registrant is

an emerging

growth company

as defined

in Rule

405 of

the Securities

Act of

1933

(§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b

-2 of this chapter).

Emerging growth company

☒

emerging

growth

company,

indicate

check

mark

the

registrant

has

elected

not

use

the

extended

transition

period

for

complying with any new or revised financial accounting standards provided

pursuant to Section 13(a) of the Exchange Act.

☐

Item 2.02. Results of Operations and Financial Condition.

On January 23,

2025, USCB Financial Holdings,

Inc. (the “Company”)

issued a press release

announcing its financial

results

for the quarter

ended December 31, 2024.

A copy of the

press release is furnished

as Exhibit 99.1 to

this Current Report on

Form 8-K

(“Form 8-K”) and is incorporated herein by reference.

The information

in this Item

2.02, including

Exhibit 99.1, is

being furnished

and shall not

be deemed

“filed” for purposes

Section 18 of the

Securities Exchange Act

of 1934 (the “Exchange

Act”), or otherwise subject

to the liability of

that section, and

shall

not be deemed

to be incorporated

by reference into

any filing under

the Securities Act of

1933 (the “Securities

Act”) or the

Exchange

Act except as expressly set forth by specific reference in such filing to this Form 8-K.

Item 7.01. Regulation FD Disclosure.

As previously announced, at 11:00 a.m. ET on January 24, 2025, the Company will hold an earnings conference call to

discuss

its financial performance

for the quarter ended

December 31, 2024. A

copy of the slides

forming the basis of

the presentation is being

furnished as

Exhibit 99.2

to this

Form 8-K

and is

incorporated herein

by reference.

A copy

of the

slides has

also been

posted to

the

Company’s investor relations website,

located at investors.uscenturybank.com.

The information

in this Item

7.01, including

Exhibit 99.2, is

being furnished

and shall not

be deemed

“filed” for purposes

Section 18

of the

Exchange Act,

or otherwise

subject to

the

liability of

that section,

and

shall not

be deemed

to be

incorporated

reference into any filing under the

Securities Act or the Exchange Act

except as set forth by

specific reference in such filing to

this Form

8-K.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1

USCB Financial Holdings, Inc. Press Release, dated January 23, 2025

99.2

Earnings Presentation, dated January 23, 2025

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly

caused this report to be signed on

its behalf by the undersigned hereunto duly authorized.

USCB Financial Holdings, Inc.

By:

/s/ Robert Anderson

Name:

Robert Anderson

Title:

Chief Financial Officer

Date: January 23, 2025

EX-99.1 5 exhibit991.htm EX-99.1 exhibit991

Exhibit 99.1

EARNINGS RELEASE

USCB Financial Holdings, Inc. Reports Fully Diluted EPS of $0.34 for Q4

2024 and doubles the quarterly dividend

to $0.10 per share; ROAA of 1.08% and ROAE of 12.73%

MIAMI, FL – January 23, 2025 – USCB Financial Holdings, Inc. (the “Company”)

(NASDAQ: USCB)

, the holding company for

U.S.

Century

Bank

(the

“Bank”),

reported

net

income

$6.9

million

$0.34

per

fully

diluted

for

the

three

months

ended

December 31, 2024, compared with net income of $2.7 million or $0.14

per fully diluted share for the same period in 2023.

“The results in Q4 2024, highlight a record year for USCB.

The team outperformed our internal budget and delivered impressive results

for our shareholders. A year

ago, we posted $0.14

per share in diluted

EPS in Q4 2023

and more than doubled

those earnings this quarter

to $0.34 per

share. Our continued

focus on reducing

deposit costs has contributed

to the net interest

margin (NIM) expansion,

helping

us maintain solid profitability. While we did experience

an increase in non-interest expense, primarily due to non-routine items, overall

profitability was consistent with the

third quarter. Given the earnings power of

the Company, outlook for 2025, and strong

capital levels,

the board approved to double the quarterly cash dividend to $0.10 per share. For 2025, we remain focused on managing operating costs

efficiently to

drive sustainable

performance and

delivering value

to our

shareholders.” said

Luis de

la Aguilera,

Chairman, President,

and CEO.

Unless otherwise stated,

all percentage comparisons

in the bullet points

below are calculated

at or for the

quarter ended December 31,

2024 compared to at or for the quarter ended December 31, 2023

and annualized where appropriate.

Profitability

•

Annualized return on average assets for the quarter ended December 31, 2024 was 1.08% compared to 0.48% for the fourth quarter

of 2023.

•

Annualized return

on average stockholders’

equity for the

quarter ended December

31, 2024 was

12.73% compared

to 5.88%

for

the fourth quarter of 2023.

•

The efficiency ratio for the quarter ended December 31,

2024 was 55.92% compared to 68.27% for the fourth quarter of 2023.

•

Net interest margin for the quarter ended December 31, 2024

was 3.16%

compared to 2.65% for the fourth quarter of 2023.

•

Net interest income

before provision

for credit

losses was $19.4

million for

the quarter ended

December 31, 2024,

an increase of

$5.0 million or 34.7% compared to the fourth quarter of 2023.

Balance Sheet

•

Total

assets

were

$2.6

billion

December 31,

2024,

representing

increase

$242.1 million

10.4%

from

$2.3

billion

December 31, 2023.

•

Total loans held

for investment were $2.0 billion at December 31,

2024, representing an increase of $192.0 million or 10.8% from

$1.8 billion at December 31, 2023.

•

Total

deposits were

$2.2 billion at

December 31, 2024,

representing an

increase of

$236.9 million or

12.2% from

$1.9 billion

December 31, 2023.

•

Total

stockholders’

equity

was

$215.4 million

December 31,

2024,

representing

increase

$23.4

million

12.2%

from

$192.0

million

at December

31,

2023.

Total

stockholders’

equity

included

accumulated

comprehensive

loss of

$44.5 million

December 31, 2024 compared to accumulated comprehensive loss of $44.3

million at December 31, 2023.

Asset Quality

•

The allowance

for credit

losses (“ACL”)

increased by

$3.0 million

to $24.1

million at

December 31, 2024

from $21.1

million at

December 31, 2023.

•

The ACL represented 1.22%

of total loans at December 31, 2024 and 1.18%

at December 31, 2023.

•

The provision for credit loss was $1.0

million for the quarter ended December

31, 2024, a decrease of $445 thousand

compared to

the fourth quarter of 2023.

•

Non-performing

loans to

total loans

was 0.14%

at December

31,

2024

and

0.03%

at December

31, 2023.

Nonperforming

loans

totaled $2.7 million at December 31, 2024 and $468 thousand at December

31, 2023.

Non-interest Income and Non-interest Expense

•

Non-interest

income was

$3.6

million

for

the

three

months

ended December 31,

2024,

increase

$2.3

million

173.5%

compared to $1.3 million for the same period in 2023.

•

Non-interest

expense

was

$12.9 million

for

the

three

months

ended

December 31,

2024,

increase

$2.1

million

19.9%

compared to $10.7 million for the same period in 2023.

•

Non-interest expense

for the three months

ended December 31,

2024, increased $1.4

million compared to

the three months ended

September 30, 2024 due to routine increases of $362 thousand

and non-routine increases of $1.0 million. Routine increases for the

fourth quarter 2024 were: $110

thousand increase to salaries and

employee benefits due to merit increases

and higher replacement

cost

personnel,

$218

thousand

increase

consulting

and

legal

fees

due

timing

of billings

throughout

the

year,

and

$104

thousand increase in other operating expense. Occupancy, regulatory assessment and fees,

and network and information technology

had a net decrease

of $70 thousand. Non-routine increases

for the fourth quarter 2024

were: $620 thousand in

salaries and employee

benefits due to restricted stock

award expense (a shorter initial

vesting period; annual expense was

recognized in two months), $173

thousand

legal

expenses

for

various

items

which

the

Company

expects

to be

reimbursed

coming

quarters,

$174

thousand

increase in other operating expenses due to forced placed-insurance expense related to

borrowers which the Company expects to be

reimbursed

coming

quarters, and

$71

thousand

due

excise tax

the

Company’s

stock

repurchases

pursuant

its

previously

announced stock

repurchase programs.

Non-routine expenses

had an

impact of

($0.04) on

diluted EPS

for the

fourth

quarter 2024.

Capital

•

On January 21,

2025, the Company’s

Board of Directors

declared a quarterly

cash dividend

of $0.10 per

share of the

Company’s

Class A common stock. The dividend will be paid on March 5, 2025 to

shareholders of record at the close of business on February

14, 2025.

•

As of December 31, 2024,

total risk-based capital ratios for the Company and the Bank were 13.51% and 13.34%,

respectively.

•

Tangible book

value per common share (a non-GAAP

measure) was $10.81 at December 31,

2024, representing increase of $1.00

or 10.2% from $9.81 at December

31, 2023. At December 31, 2024, tangible

book value per common share was

negatively affected

by ($2.24) per share due to an

accumulated comprehensive loss of $44.5 million due to changes

in the market value of our

available

for sale securities during the fourth quarter.

At December 31, 2023, tangible book value per common share was negatively affected

by ($2.26) per share due to an accumulated comprehensive loss of $44.3

million.

Conference Call and Webcast

The Company will host a conference call on Friday,

January 24, 2025, at 11:00 a.m. Eastern Time

to discuss the Company’s unaudited

financial results for the quarter ended December 31, 2024. To access the conference call, dial (833) 816-1416 (U.S. toll-free) and ask to

join the USCB Financial Holdings Call.

Additionally,

interested

parties can

listen to

a live

webcast

of the

call in

the “Investor

Relations” section

of the

Company’s

website

at www.uscentury.com

An archived version of the webcast will be available in the same location shortly after

the live call has ended.

About USCB Financial Holdings, Inc.

USCB Financial Holdings, Inc.

is the bank holding company for

U.S. Century Bank. Established in 2002,

U.S. Century Bank is one of

the largest

community banks

headquartered

in Miami,

and one

of the

largest community

banks in

the State

of Florida.

U.S. Century

Bank is rated 5-Stars by BauerFinancial, the nation’s leading independent

bank rating firm. U.S. Century Bank offers customers a wide

range of

financial products

and services

and supports

numerous community

organizations,

including

the Greater

Miami Chamber

Commerce, the South Florida Hispanic Chamber of Commerce, and ChamberSouth. For more information about us

or to find a banking

center near you, please call (305) 715-5200 or visit www.uscentury.com.

Forward-Looking Statements

This earnings release

may contain statements

that are not

historical in nature

and are intended

to be, and

are hereby identified

as, forward-

looking

statements

for

purposes

the

safe

harbor

provided

Section

21E

the

Securities

Exchange

Act

1934,

amended.

Forward-looking statements are

those that are

not historical facts.

The words “may,”

“will,” “anticipate,” “could,”

“should,” “would,”

“believe,” “contemplate,” “expect,” “aim,” “plan,” “estimate,”

“seek,”“continue,” and “intend,”, the negative of these

terms, 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 our results of

operations and financial condition

from expected or potential 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

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 procedures and processes;

•

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

regulatory

changes and

changes

accounting

principles,

policies,

practices or

guidelines,

including

the on-going

effects of the implementation of the Current Expected Credit Losses (“CECL”)

standard;

•

the

lack

significantly

diversified

loan

portfolio

and

the

concentration

the

South

Florida

market,

including

the

risks

geographic,

depositor,

and

industry

concentrations,

including

our

concentration

loans

secured

real

estate,

particular,

commercial real estate;

•

the 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, and 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

interest rate spread

and net interest

margin;

•

the loss of key employees;

•

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 earnings release 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

earnings release are

made only as

of the date

hereof, and we

undertake no obligation

to update or revise any forward-looking statement to reflect events

or circumstances after the date on which the statements are made

to reflect the occurrence of unanticipated

events, unless required to do

so under the federal securities laws.

You

should also review the

risk factors described in the reports the Company filed or will file with the SEC.

Non-GAAP Financial Measures

This earnings release

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

believes

these

measures

may

provide

useful

supplemental

information

for

evaluating

the

Company’s

operations and

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

addition

to,

and

not

alternative

substitute

for,

measures

determined

accordance

with

GAAP,

and

are

not

necessarily

comparable

non-GAAP

measures

that

may

presented

other

companies.

Reconciliations

these

non-GAAP

measures

the most

directly

comparable

GAAP measures

can be

found

in the

‘Non-GAAP

Reconciliation

Tables’

included

in the

exhibits to this earnings release.

All numbers included in this press release are unaudited unless otherwise noted.

Contacts:

Investor Relations

InvestorRelations@uscentury.com

Media Relations

Martha Guerra-Kattou

MGuerra@uscentury.com

USCB FINANCIAL HOLDINGS, INC.

CONSOLIDATED STATEMENTS

OF INCOME (UNAUDITED)

(Dollars in thousands, except per share data)

Three Months Ended December 31,

Twelve Months Ended December 31,

2024

2023

2024

2023

Interest income:

Loans, including fees

30,757

24,803

115,236

87,884

Investment securities

2,846

2,511

11,480

10,012

Interest-bearing deposits in financial institutions

564

662

4,517

3,121

Total interest income

34,167

27,976

131,233

101,017

Interest expense:

Interest-bearing checking deposits

338

327

1,509

901

Savings and money market accounts

9,569

9,126

40,098

29,658

Time deposits

3,447

2,733

13,354

8,500

FHLB advances and other borrowings

1,455

1,414

6,336

3,390

Total interest expense

14,809

13,600

61,297

42,449

Net interest income before provision for credit losses

19,358

14,376

69,936

58,568

Provision for credit losses

1,030

1,475

3,157

2,367

Net interest income after provision for credit losses

18,328

12,901

66,779

56,201

Non-interest income:

Service fees

2,667

1,348

8,839

5,055

Gain (loss) on sale of securities available for sale, net

(883)

(1,859)

Gain on sale of loans held for sale, net

154

105

747

801

Other non-interest income

806

756

3,140

3,406

Total non-interest income

3,627

1,326

12,740

7,403

Non-interest expense:

Salaries and employee benefits

7,930

6,104

28,793

24,429

Occupancy

1,337

1,262

5,258

5,230

Regulatory assessments and fees

405

412

1,766

1,453

Consulting and legal fees

552

642

1,568

1,899

Network and information technology services

494

552

1,993

2,016

Other operating expense

2,136

1,747

7,664

6,781

Total non-interest expense

12,854

10,719

47,042

41,808

Net income before income tax expense

9,101

3,508

32,477

21,796

Income tax expense

2,197

787

7,803

5,251

Net income

6,904

2,721

24,674

16,545

Per share information:

Net income per common share, basic

0.35

0.14

1.25

0.84

Net income per common share, diluted

0.34

0.14

1.24

0.84

Cash dividends declared

0.05

0.20

Weighted average shares outstanding:

Common shares, basic

19,795,589

19,503,043

19,675,444

19,621,698

Common shares, diluted

20,183,731

19,573,350

19,831,421

19,687,634

USCB FINANCIAL HOLDINGS, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(Dollars in thousands, except per share data)

As of or For the Three Months Ended

12/31/2024

9/30/2024

6/30/2024

3/31/2024

12/31/2023

Income statement data:

Net interest income

19,358

18,109

17,311

15,158

14,376

Provision for credit losses

1,030

931

786

410

1,475

Net interest income after provision for credit losses

18,328

17,178

16,525

14,748

12,901

Service fees

2,667

2,544

1,977

1,651

1,348

Gain (loss) on sale of securities available for sale, net

(883)

Gain on sale of loans held for sale, net

154

109

417

105

Other income

806

785

803

746

756

Total non-interest income

3,627

3,438

3,211

2,464

1,326

Salaries and employee benefits

7,930

7,200

7,353

6,310

6,104

Occupancy

1,337

1,341

1,266

1,314

1,262

Regulatory assessments and fees

405

452

476

433

412

Consulting and legal fees

552

161

263

592

642

Network and information technology services

494

513

479

507

552

Other operating expense

2,136

1,787

1,723

2,018

1,747

Total non-interest expense

12,854

11,454

11,560

11,174

10,719

Net income before income tax expense

9,101

9,162

8,176

6,038

3,508

Income tax expense

2,197

2,213

1,967

1,426

787

Net income

6,904

6,949

6,209

4,612

2,721

Per share information:

Net income per common share, basic

0.35

0.32

0.23

0.14

Net income per common share, diluted

0.34

0.35

0.31

0.23

0.14

Cash dividends declared

0.05

Balance sheet data (at period-end):

Cash and cash equivalents

77,035

38,486

77,261

126,546

41,062

Securities available-for-sale

260,221

259,527

236,444

259,992

229,329

Securities held-to-maturity

164,694

167,001

169,606

173,038

174,974

Total securities

424,915

426,528

406,050

433,030

404,303

Loans held for investment

(1)

1,972,848

1,931,362

1,869,249

1,821,196

1,780,827

Allowance for credit losses

(24,070)

(23,067)

(22,230)

(21,454)

(21,084)

Total assets

2,581,216

2,503,954

2,458,270

2,489,142

2,339,093

Non-interest-bearing demand deposits

575,159

637,313

579,243

576,626

552,762

Interest-bearing deposits

1,598,845

1,489,304

1,477,459

1,526,168

1,384,377

Total deposits

2,174,004

2,126,617

2,056,702

2,102,794

1,937,139

FHLB advances and other borrowings

163,000

118,000

162,000

183,000

Total liabilities

2,365,828

2,290,038

2,257,250

2,294,131

2,147,125

Total stockholders' equity

215,388

213,916

201,020

195,011

191,968

Capital ratios:

(2)

Leverage ratio

9.53%

9.34%

9.03%

8.91%

9.28%

Common equity tier 1 capital

12.28%

12.01%

11.93%

11.80%

11.62%

Tier 1 risk-based capital

12.28%

12.01%

11.93%

11.80%

11.62%

Total risk-based capital

13.51%

13.22%

13.12%

12.98%

12.78%

(1)

Loan amounts include deferred fees/costs.

(2) Reflects the Company's regulatory capital ratios which are

provided for informational purposes only; as a small bank holding

company, the Company is not subject

to regulatory capital requirements. The Bank's total risk-based

capital for fourth quarter 2024 was 13.34%.

USCB FINANCIAL HOLDINGS, INC.

AVERAGE BALANCES, RATIOS,

AND OTHER DATA (UNAUDITED)

(Dollars in thousands)

As of or For the Three Months Ended

12/31/2024

9/30/2024

6/30/2024

3/31/2024

12/31/2023

Average balance sheet data:

Cash and cash equivalents

56,937

87,937

107,831

132,266

57,069

Securities available-for-sale

255,786

244,882

263,345

239,896

215,649

Securities held-to-maturity

165,831

168,632

171,682

174,142

181,151

Total securities

421,617

413,514

435,027

414,038

396,800

Loans held for investment

(1)

1,958,566

1,878,230

1,828,487

1,781,528

1,698,611

Total assets

2,544,592

2,485,434

2,479,222

2,436,103

2,268,811

Interest-bearing deposits

1,547,789

1,468,067

1,473,513

1,473,831

1,336,470

Non-interest-bearing demand deposits

590,829

609,456

610,370

574,760

577,133

Total deposits

2,138,618

2,077,523

2,083,883

2,048,591

1,913,603

FHLB advances and other borrowings

151,804

156,043

162,000

164,187

139,000

Total liabilities

2,328,877

2,278,793

2,281,467

2,243,011

2,085,182

Total stockholders' equity

215,715

206,641

197,755

193,092

183,629

Performance ratios:

Return on average assets

(2)

1.08%

1.11%

1.01%

0.76%

0.48%

Return on average equity

(2)

12.73%

13.38%

12.63%

9.61%

5.88%

Net interest margin

(2)

3.16%

3.03%

2.94%

2.62%

2.65%

Non-interest income to average assets

(2)

0.57%

0.55%

0.52%

0.41%

0.23%

Non-interest expense to average assets

(2)

2.01%

1.83%

1.88%

1.84%

1.87%

Efficiency ratio

(3)

55.92%

53.16%

56.33%

63.41%

68.27%

Loans by type (at period end):

(4)

Residential real estate

297,979

283,477

256,807

237,906

204,419

Commercial real estate

1,128,399

1,095,112

1,053,030

1,057,800

1,047,593

Commercial and industrial

258,311

246,539

248,525

228,045

219,757

Correspondent banks

82,438

103,815

112,510

100,182

114,945

Consumer and other

198,091

198,604

194,644

194,325

191,930

Asset quality data:

Allowance for credit losses to total loans

1.22%

1.19%

1.18%

Allowance for credit losses to non-performing loans

889%

846%

2,933%

4,705%

4,505%

Total non-performing loans

(5)

2,707

2,725

758

456

468

Non-performing loans to total loans

0.14%

0.04%

0.03%

Non-performing assets to total assets

(5)

0.10%

0.11%

0.03%

0.02%

Net charge-offs (recoveries of) to average loans

(2)

0.00%

(0.00)%

Net charge-offs (recovery) of credit losses

(11)

(6)

(2)

(7)

(3)

Interest rates and yields:

(2)

Loans held for investment

6.25%

6.32%

6.16%

6.01%

5.79%

Investment securities

2.63%

2.61%

2.80%

2.69%

2.46%

Total interest-earning assets

5.57%

5.61%

5.54%

5.34%

5.16%

Deposits

(6)

2.48%

2.66%

2.64%

2.76%

2.53%

FHLB advances and other borrowings

3.81%

4.05%

4.03%

4.10%

4.04%

Total interest-bearing liabilities

3.47%

3.79%

3.76%

3.86%

3.66%

Other information:

Full-time equivalent employees

199

198

197

199

196

(1)

Loan amounts include deferred fees/costs.

(2)

Annualized.

(3)

Efficiency ratio is defined as total non-interest expense divided

by sum of net interest income and total non-interest

income.

(4)

Loan amounts exclude deferred fees/costs.

(5)

The amounts for total non-performing loans and total non-performing

assets are the same at the dates presented since there was

no other real estate owned (OREO)

recorded.

(6) Reflects effect of non-interest-bearing deposits.

USCB FINANCIAL HOLDINGS, INC.

NET INTEREST MARGIN (UNAUDITED)

(Dollars in thousands)

Three Months Ended December 31,

2024

2023

Average

Balance

Interest

Yield/Rate

(1)

Average

Balance

Interest

Yield/Rate

(1)

Assets

Interest-earning assets:

Loans held for investment

(2)

1,958,566

30,757

6.25%

1,698,611

24,803

5.79%

Investment securities

(3)

430,465

2,846

2.63%

404,850

2,511

2.46%

Other interest-earning assets

49,561

564

4.53%

49,583

662

5.30%

Total interest-earning assets

2,438,592

34,167

5.57%

2,153,044

27,976

5.16%

Non-interest-earning assets

106,000

115,767

Total assets

2,544,592

2,268,811

Liabilities and stockholders' equity

Interest-bearing liabilities:

Interest-bearing checking deposits

51,033

338

2.63%

49,675

327

2.61%

Saving and money market deposits

1,155,776

9,569

3.29%

1,004,805

9,126

3.60%

Time deposits

340,980

3,447

4.02%

281,990

2,733

3.85%

Total interest-bearing deposits

1,547,789

13,354

3.43%

1,336,470

12,186

3.62%

FHLB advances and other borrowings

151,804

1,455

3.81%

139,000

1,414

4.04%

Total interest-bearing liabilities

1,699,593

14,809

3.47%

1,475,470

13,600

3.66%

Non-interest-bearing demand deposits

590,829

577,133

Other non-interest-bearing liabilities

38,455

32,579

Total liabilities

2,328,877

2,085,182

Stockholders' equity

215,715

183,629

Total liabilities and stockholders' equity

2,544,592

2,268,811

Net interest income

19,358

14,376

Net interest spread

(4)

2.10%

1.50%

Net interest margin

(5)

3.16%

2.65%

(1)

Annualized.

(2)

Average loan balances include non-accrual loans. Interest income on loans includes accretion

of deferred loan fees, net of deferred loan costs.

(3)

At fair value except for securities held to maturity. This amount includes FHLB

stock.

(4)

Net interest spread is the average yield earned on total

interest-earning assets minus the average rate paid on total interest-bearing

liabilities.

(5)

Net interest margin is the ratio of net interest income to total

interest-earning assets.

USCB FINANCIAL HOLDINGS, INC.

NON-GAAP FINANCIAL MEASURES (UNAUDITED)

(Dollars in thousands)

As of or For the Three Months Ended

12/31/2024

9/30/2024

6/30/2024

3/31/2024

12/31/2023

Pre-tax pre-provision ("PTPP") income:

(1)

Net income

6,904

6,949

6,209

4,612

2,721

Plus: Provision for income taxes

2,197

2,213

1,967

1,426

787

Plus: Provision for credit losses

1,030

931

786

410

1,475

PTPP income

10,131

10,093

8,962

6,448

4,983

PTPP return on average assets:

(1)

PTPP income

10,131

10,093

8,962

6,448

4,983

Average assets

2,544,592

2,485,434

2,479,222

2,436,103

2,268,811

PTPP return on average assets

(2)

1.58%

1.62%

1.45%

1.06%

0.87%

Operating net income:

(1)

Net income

6,904

6,949

6,209

4,612

2,721

Less: Net gains (losses) on sale of securities

(883)

Less: Tax effect on sale of securities

(4)

224

Operating net income

6,904

6,949

6,199

4,612

3,380

Operating PTPP income:

(1)

PTPP income

10,131

10,093

8,962

6,448

4,983

Less: Net gains (losses) on sale of securities

(883)

Operating PTPP income

10,131

10,093

8,948

6,448

5,866

Operating PTPP return on average assets:

(1)

Operating PTPP income

10,131

10,093

8,948

6,448

5,866

Average assets

2,544,592

2,485,434

2,479,222

2,436,103

2,268,811

Operating PTPP return on average assets

(2)

1.58%

1.62%

1.45%

1.06%

1.03%

Operating return on average assets:

(1)

Operating net income

6,904

6,949

6,199

4,612

3,380

Average assets

2,544,592

2,485,434

2,479,222

2,436,103

2,268,811

Operating return on average assets

(2)

1.08%

1.11%

1.01%

0.76%

0.59%

Operating return on average equity:

(1)

Operating net income

6,904

6,949

6,199

4,612

3,380

Average equity

215,715

206,641

197,755

193,092

183,629

Operating return on average equity

(2)

12.73%

13.38%

12.61%

9.61%

7.30%

Operating Revenue:

(1)

Net interest income

19,358

18,109

17,311

15,158

14,376

Non-interest income

3,627

3,438

3,211

2,464

1,326

Less: Net gains (losses) on sale of securities

(883)

Operating revenue

22,985

21,547

20,508

17,622

16,585

Operating Efficiency Ratio:

(1)

Total non-interest expense

12,854

11,454

11,560

11,174

10,719

Operating revenue

22,985

21,547

20,508

17,622

16,585

Operating efficiency ratio

55.92%

53.16%

56.37%

63.41%

64.63%

(1) The Company believes these non-GAAP measurements are

key indicators of the ongoing earnings power of the

Company.

(2)

Annualized.

USCB FINANCIAL HOLDINGS, INC.

NON-GAAP FINANCIAL MEASURES (UNAUDITED)

(Dollars in thousands, except per share data)

As of or For the Three Months Ended

12/31/2024

9/30/2024

6/30/2024

3/31/2024

12/31/2023

Tangible book value per common share (at period-end):

(1)

Total stockholders' equity

215,388

213,916

201,020

195,011

191,968

Less: Intangible assets

Tangible stockholders' equity

215,388

213,916

201,020

195,011

191,968

Total shares issued and outstanding (at period-end):

Total common shares issued and outstanding

19,924,632

19,620,632

19,630,632

19,650,463

19,575,435

Tangible book value per common share

(2)

10.81

10.90

10.24

9.92

9.81

Operating diluted net income per common share:

(1)

Operating net income

6,904

6,949

6,199

4,612

3,380

Total weighted average diluted shares of common stock

20,183,731

19,825,211

19,717,167

19,698,258

19,573,350

Operating diluted net income per common share:

0.34

0.35

0.31

0.23

0.17

Tangible Common Equity/Tangible Assets

(1)

Tangible stockholders' equity

215,388

213,916

201,020

195,011

191,968

Tangible total assets

(3)

2,581,216

2,503,954

2,458,270

2,489,142

2,339,093

Tangible Common Equity/Tangible Assets

8.34%

8.54%

8.18%

7.83%

8.21%

(1)

The Company believes these non-GAAP measurements

are key indicators of the ongoing earnings power

of the Company.

(2)

Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding

stock options.

(3) Since the Company has no intangible assets, tangible total assets is the same amount as total assets calculated under GAA EARNINGS PRESENTATION FOURTH QUARTER 2024 NASDAQ: USCB USCB FINANCIAL HOLDINGS U.S. CENTURY BANK

EX-99.2 7 exhibit992.htm EX-99.2 exhibit992

Exhibit 99.2

FORWARD-LOOKING STATEMENTS This presentation

may contain statements that are not historical in nature and are

intended to be, and are hereby identified as, forward-looking statements

for purposes of the safe harbor provided by Section 21E of the

Securities Exchange Act of 1934, as amended. Forward-looking statements

are those that are not historical facts. The words “may,” “will,”

“anticipate,” “could,” “ should,” “would,” “believe,” “contemplate,”

“expect,” “aim,” “plan,” “estimate,” “continue,” “seek,” and

“intend,”, the negative of these terms, 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 our results

of operations and financial condition from expected or potential

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 procedures and processes;

our ability to comply with the extensive laws and regulations

which we are subject, including the laws for each jurisdiction where

we operate; adverse changes or conditions in the 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 lack of a significantly diversified loan portfolio

and the concentration in the South Florida market, including the risks

of geographic, depositor, and industry concentrations, including

our concentration in loans secured by real estate, in particular,

commercial real estate; the 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, and

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 net interest rate

spread and net interest margin; the loss of key employees; 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 occurring after the date on which the statements are made or to reflect the occurrence 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. 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 financial measures because it believes these measures may provide useful supplemental information for evaluating the Company’s expectations and underly ing 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 financial measures reconciliation tables included in this presentation. All numbers included in this presentation are unaudited unless otherwise noted. 2 Q4 2024 HIGHLIGHTS GROWTH Average deposits increased by $225.0 million or 11.8% compared to the fourth quarter 2023.

Average loans increased $260.0 million or 15.3% compared to the fourth quarter 2023. Liquidity sources as of December 31, 2024, aggregated $679 million in on-balance sheet and off-balance sheet sources. Tangible book value per common share (a non-GAAP measure) (1) on December 31, 2024, was $10.81, which included an AOCI impact of ($2.24), increased $1.0 or 10.2% from $9.81 on December 31, 2023, which included an AOCI impact of ($2.26). PROFITABILITY Net income was $6.9 million or $0.34 per diluted share, an increase of $4.2 million or 153.7% compared to the fourth quarter 2023. Net interest income before provision increased $5.0 million or 34.7% for the quarter compared to the fourth quarter 2023. Non-interest expense increased $2.1 million or 19.9% for the quarter compared to the fourth quarter 2023. Non-routine non-interest expenses accounted for $1.0 million which had an impact of ($0.04) on diluted EPS. ROAA was 1.08% in the fourth quarter 2024 compared to 0.48% for the fourth quarter 2023. ROAE was 12.73% in the fourth quarter 2024 compared to 5.88% for the fourth quarter 2023. CAPITAL/ CREDIT The Company’s Board of Directors doubled the quarterly cash dividend and declared a $0.10 per share of the Company’s Class A common stock dividend on January 21, 2025. The dividend will be paid on March 5, 2025, to shareholders of record at the close of business on February 14, 2025. At December 31, 2024, nonaccrual loans totaled $2.7 million. ACL coverage ratio was 1.22% at December 31, 2024, and 1.18% at December 31, 2023. Total stockholders' equity increased by $23.4 million or 12.2% compared to December 31, 2023. (1) Non-GAAP financial measure. See reconciliation in this presentation. 3 HISTORICAL FINANCIALS EOP for Balance Sheet amounts Loans (1) In millions $735 $1,973 2016 2017 2018 2019 2020 2021 2022 2023 2024 Deposits In millions $782 $2,174 2016 2017 2018 2019 2020 2021 2022 2023 2024 Total stockholders' equity In millions $86 $215 2016 2017 2018 2019 2020 2021 2022 2023 2024 ACL/Total Loans (2) 1.17% 1.22% 2016 2017 2018 2019 2020 2021 2022 2023 2024 Net charge-offs ($1,019) ($26) 2016 2017 2018 2019 2020 2021 2022 2023 2024 Nonperforming Assets/Total Assets 1.58% 0.10% 2016 2017 2018 2019 2020 2021 2022 2023 2024 Net Interest Income In millions $30 $70 2016 2017 2018 2019 2020 2021 2022 2023 2024 Efficiency ratio 94.15% 55.92% 2016 2017 2018 2019 2020 2021 2022 2023 2024 PTPP ROAA (3) 0.24% 1.58% 2016 2017 2018 2019 2020 2021 2022 2023 2024 (1) Loan amounts include deferred fees/costs.

(2) ACL was calculated under the CECL standard methodology for all periods beginning January 1, 2023, and the incurred loss methodology for all periods before. (3) Non-GAAP financial measure. See reconciliation in this presentation. 4 FINANCIAL RESULTS In thousands (except per share data) Q4 2024 Q3 2024 Q4 2023 Balance Sheet (EOP) Total Securities $424,915 $426,528 $404,303 Total Loans (1) $1,972,848 $1,931,362 $1,780,827 Total Assets $2,581,216 $2,503,954 $2,339,093 Total Deposits $2,174,004 $2,126,617 $1,937,139 Total Equity (2) $215,388 $213,916 $191,968 Income Statement Net Interest Income $19,358 $18,109 $14,376 Non-Interest Income $3,627 $3,438 $1,326 Total Revenue (3) $22,985 $21,547 $15,702 Provision for Credit Losses $1,030 $931 $1,475 Non -Interest Expense $12,854 $11,454 $10,719 Net Income $6,904 $6,949 $2,721 Diluted Earning Per Share (EPS) $0.34 $0.35 $0.14 Weighted Average Diluted Shares 20,183,731 19,825,211 19,573,350 (1) Loan amounts include deferred fees/costs. (2) Total Equity includes accumulated comprehensive loss of $44.5 million for Q4 2024, $38.0 million for Q3 2024, and $44.3 million for Q4 2023. (3) Equals net interest income plus non-interest income. 5 KEY PERFORMANCE INDICATORS Q4 2024 Q3 2024 Q4 2023 In thousands (except for TBV/share) GROWTH Total Assets (EOP) $2,581,216 $2,503,954 $2,339,093 Total Loans (EOP) $1,972,848 $1,931,362 $1,780,827 Total Deposits (EOP) $2,174,004 $2,126,617 $1,937,139 Tangible Book Value/Share (1)(2) $10.81 $10.90 $9.81 PROFITABILITY Return On Average Assets (ROAA) (3) 1.08% 1.11% 0.48% Return On Average Equity (ROAE) (3) 12.73% 13.38% 5.88% Net Interest Margin (3) 3.16% 3.03% 2.65% Efficiency Ratio 55.92% 53.16% 68.27% Non -Interest Expense/Avg.

Assets (3) 2.01% 1.83% 1.87% CAPITAL/CREDIT Tangible Common Equity/Tangible Assets (1) 8.34% 8.54% 8.21% Total Risk-Based Capital (4) 13.51% 13.22% 12.78% NCO/Avg Loans (3) 0.00% 0.00% 0.00% NPA/Assets 0.10% 0.11% 0.02% Allowance for Credit Losses/Loans 1.22% 1.19% 1.18% (1) Non-GAAP financial measures. See reconciliation in this presentation. (2) AOCI effect on tangible book value per share was ($2.24) for Q4 2024, ($1.94) for Q3 2024 and ($2.26) for Q4 2023. (3) Annualized. (4) Reflects the Company's regulatory capital ratios which are provided for informational purposes only; as a small bank holding company, the Company is not subject to regulatory capital requirements. 6 DEPOSIT PORTFOLIO Deposits AVG In millions $1,914 $2,049 $2,083 $2,078 $2,139 $282 $323 $316 $326 $341 $1,005 $1,098 $1,101 $1,085 $1,156 $50 $53 $56 $58 $51 $577 $575 $610 $609 $591 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Non-interest -bearing deposits Interest-bearing checking deposits Money market and savings Time deposits Deposit Cost (1) 5.50% 5.50% 5.50% 5.00% 4.50% 2.53% 2.76% 2.64% 2.66% 2.48% Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Deposit Cost Fed Funds Rate (upper bound) Commentary Average deposits increased $61.1 million or 11.7% annualized compared to the prior quarter and increased $225.0 million or 11.8% compared to the fourth quarter 2023.

DDA was 27.6% of total average deposits. The quarterly average cost of total deposits decreased 18 bps compared to the prior quarter and 5 bps compared to the fourth quarter 2023. (1) Reflects effect of non-interest-bearing deposits. 7 LOAN PORTFOLIO Total Loans (AVG) In millions $1,699 $1,782 $1,828 $1,878 $1,959 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Loan Yields 5.79% 6.01% 6.16% 6.32% 6.25% "46 bps Q4'23 vs Q4'24" Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Commentary Average loans increased $80.3 million or 17.0% annualized compared to prior quarter and $260.0 million or 15.3% compared to the fourth quarter 2023.

Loan yield decreased 7 bps compared to the prior quarter and increased 46 bps compared to the fourth quarter 2023. 8 LOAN PRODUCTION Net Loan Production Trend In millions 8.00% 8.16% 8.01% 7.75% 7.14% $150 $46 $131 $91 $155 $108 $157 $95 $161 $123 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Loan production/Line changes Loan Amortization/payoffs New loans weighted average coupon Loan Composition Trend EOP (1) In millions $948 $1,965 28% 15% 63% 58% 9% 27% Jun -20 Dec -24 Residential real estate Commercial real estate Real Estate Loans Commercial and industrial, Correspondent banks, and Consumer and other (1) Excludes deferred fees/cost. Commentary $161.3 million in new loan production in the fourth quarter 2024. Weighted average coupon on new loans was 7.14% for fourth quarter 2024, 89 bps above portfolio weighted average yield. Loan composition shift from real estate loans to non-CRE loans further diversifies our loan portfolio. 9 NET INTEREST MARGIN Net Interest Income/Margin (1) In thousands (except ratios) 2.65% 2.62% 2.94% 3.03% 3.16% $14,376 $15,158 $17,311 $18,109 $9,358 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Net interest income NIM Interest-Earning Assets Mix (AVG) 2% 5% 4% 3% 2% 19% 18% 19% 18% 18% 79% 77% 77% 79% 80% Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Total Loans Investment Securities Cash Balances & Equivalents Commentary Net interest income increased $1.2 million or 27.4% annualized compared to prior quarter and $5.0 million or 34.7% compared to the fourth quarter 2023.

Net interest margin increased 13 bps compared to prior quarter and 51 bps compared to fourth quarter 2023. NIM drivers: Proactive deposit cost reduction initiatives. Interest-earning asset mix improved. (1) Annualized. 10 INTEREST RATE SENSITIVITY Loan Portfolio Repricing Profile by Rate Type Hybrid ARM 3% Fixed Rate 41 % Variable Rate 56% 28% 10% 62% Prime CMT SQFR Loan Repricing Schedule Variable/Hybrid Rate Loans 24% 41% 12% 23% yrs.

1-2 yrs. 2-3 yrs. >3 yrs.

Static NII Simulation Year 1 & 2 -100 -1.2$ 0.6% +100 -100 -4.6% 3.3% +100 Net interest income changes from base ($ in thousands and % change) 11 ASSET QUALITY Allowance for Credit Losses In thousands (except ratios) 1.18% 1.18% 1.19% 1.19% 1.22% $21,084 $21,454 $22,230 $23,067 $24,070 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Allowance for credit losses ACL/Total loans Non-performing Loans In thousands (except ratios) 0.03% 0.03% 0.04% 0.14% 0.14% $468 $456 $758 $2,725 $2,707 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Non-accrual loans Non-performing loans to total loans Commentary Allowance for credit losses increased $1.0 million compared to prior quarter and $3.0 million compared to fourth quarter 2023. ACL coverage ratio was at 1.22% as of December 31, 2024. One C&I loan for $403 thousand, two consumer loans totaling $2.0 million, and one residential real estate loan for $314 thousand were classified as nonaccrual as of December 31, 2024. Classified Loans (1) to Total Loans 0.53% 0.44% 0.45% 0.39% 0.37% Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 (1) Loans classified as substandard at period end. No loans classified doubtful at any of the dates presented. 12 LOAN PORTFOLIO MIX Loan Portfolio Mix (1) Residential real estate CRE - Owner occupied CRE - Non-owner occupied Commercial and industrial Correspondent banks Consumer and other 10% 15% 10% 48% 13% 4% $1,965 MM(1) Commentary Total loan balance at quarter end was $1,965 million (1).

Commercial Real Estate (owner occupied and non-owner occupied) was 57% or $1,128 million of the total loan portfolio(1). CRE mix is diversified and granular. Retail non-owner occupied makes up 27% of total CRE or $305.0 million. CRE Loan Mix Land/Construction 3% Other 3% Retail 27% Multifamily 18% CRE - Owner Occupied 18% Office 10% Warehouse 12% Hotels 9% $1,128MM As of 12/31/24 Excludes deferred fees/cost Includes loan types: office, warehouse, retail, and other CRE Loan Portfolio (non-owner occupied and owner occupied) Weighted Average Loan Type Outstanding Balance (1) LTV (2) DSCR (3) Average Loan Size (1) Retail $326 56% 1.59 $3.0 Multifamily $204 56% 1.34 $1.7 Office $184 56% 1.85 $1.5 Warehouse $192 57% 1.72 $1.6 Hotel $102 56% 2.05 $5.1 Other $83 57% 1.93 $1.7 Land/Construction $38 47% NA $2.0 (1) Balance in millions. Excludes deferred fees/cost. (2) LTV - Loan to value ratio. (3) DSCR - Debt service coverage ratio. 13 NON-INTEREST INCOME In thousands (except ratios) Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Total service fees $2,667 $2,544 $1,977 $1,651 $1,348 Wire fees $587 $563 $557 $521 $518 Swap fees $1,076 $1,285 $650 $285 $16 Other $1,004 $696 $770 $845 $814 Gain (loss) on sale of securities available for sale - - 14 - (883) Gain on sale of loans held for sale 154 109 417 67 105 Other income 806 785 803 746 756 Total non-interest income $3,627 $3,438 $3,211 $2,464 $1,326 Average total assets $2,544,592 $2,485,434 $2,479,222 $2,436,103 $2,268,811 Non -interest income/Average assets (1) 0.57% 0.55% 0.52% 0.41% 0.23% Commentary Service fees increased $1.3 million compared to the fourth quarter 2023 mainly due to loan swap fees, wire fees, and loan pre-payment penalties.

Gain on sale of SBA 7a loans represented $154 thousand for the fourth quarter 2024. Non-interest income is 15.8% of total revenue for fourth quarter 2024 and 0.57% to average assets; both metrics are higher compared to fourth quarter 2023. (1) Annualized. 14 NON-INTEREST EXPENSE In thousands (except ratios) Q4 2024 Q3 2024 Q2 2024 Q1 2024 Q4 2023 Salaries and employee benefits $7,930 $7,200 $7,353 $6,310 $6,104 Occupancy 1,337 1,341 1,266 1,314 1,262 Regulatory assessments and fees 405 452 476 433 412 Consulting and legal fees 552 161 263 592 642 Network and information technology services 494 513 479 507 552 Other operating expense 2,136 1,787 1,723 2,018 1,747 Total non-interest expense $12,854 $11,454 $11,560 $11,174 $10,719 Efficiency ratio 55.92% 53.16% 56.33% 63.41% 68.27% Non-interest expense/Average assets (1) 2.01% 1.83% 1.88% 1.84% 1.87% Full-time equivalent employees 199 198 197 199 196 Commentary – Q4 2024 Vs Q3 2024 Q4’24 Routine Increases: $362k Salaries and employee benefits increased $110 thousand due to merit increases and higher replacement cost of personnel. Consulting and legal expenses increased $218 thousand due to timing of billings throughout the year. Other operating expense increased $104 thousand mainly due to internet banking fees and item processing expenses. Occupancy, regulatory assessment and fees, and network and information technology had a net decrease of $70 thousand. Q4’24 Non-Routine Increases: $1,038k Diluted EPS Impact ($0.04) Salaries and employee benefits increased $620 thousand due to restricted stock award expense (a shorter initial vesting period; annual expense was recognized in two months). Legal expenses increased $173 thousand for various items for which we expect reimbursement in coming quarters. Other operating expense increased $174 thousand related to forced-place insurance related to borrowers. The Company expects to receive reimbursements in coming quarters. Additionally, other operating expense increase due to $71 thousand excise tax related to the Company’s stock repurchases pursuant to its previously announced

stock repurchase programs. Annualized. 15

CAPITAL Capital Ratios (1) Leverage Ratio TCE/TA (2) Tier 1 Risk-Based Capital Total Risk-Based Capital AOCI In Millions Q4 2024 9.53% 8.34% 12.28% 13.51% ($44.5) Q3 2024 9.34% 8.54% 12.01% 13.22% ($38.0) Q4 2023 9.28% 8.21% 11.62% 12.78% ($44.3) Well- Capitalized 5.00% NA 8.00% 10.00% Commentary The Company paid in December 2024 a cash dividend of $0.05 per share of the Company’s Class A common stock; the aggregate distributed dividend amount was $1.0 million. The Company doubled the size of the quarterly dividend to $0.10 per share for first quarter 2025. Q4 2024 EOP common stock shares outstanding: 19,924,632. (1) Reflects the Company's regulatory capital ratios which are provided for informational purposes only; as a small bank holding company, the Company is not subject to regulatory capital requirements. (2) Non-GAAP financial measures. See reconciliation in this presentation. 16 TAKEAWAYS Leading franchise located in one of the most attractive banking markets in Florida and the U.S. Robust organic growth Strong asset quality, with minimal charge-offs experienced since 2015 recapitalization Experienced and tested management team Strong profitability, with pathway for future enhancement identified Core funded deposit base with 28% non-interest-bearing deposits (Avg.) 17

APPENDIX - NON-GAAP RECONCILIATION In thousands

(except ratios) In thousands (except ratios) As of or For the Three

Months Ended 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023

Pre-tax pre-provision ("PTPP") income: Net income Plus: Provision

income taxes Plus: Provision tax credit losses PTPP income

PTPP return on average assets PTPP income Average assets

PIPP return on average assets Operating net income: Net income Less:

Net gains (losses) on sale of securities Less: Tax effect

on sale of securities Operating net income Operating PTPP income:

PTPP income Less: Net gains (losses) on sale of securities Operating

PTPP income Operating PTPP return on average assets Operating

PTPP income Average assets Operating PTPP return on average

assets Operating

return on average assets Operating net income Average

assets Operating return on average assets Operating return on average

equity: Operating net income Average equity Operating return on average

equity S 6,904 S 6,949 S 6,209 S 4,612 S 2,721 2,197 2,213 1,967 1,426

787 1,030 931 786 410 1,475 S 10,131 S 10,093 S 8,962

S 6,448 S 4,983 (1) S 10,131 S 10,093 S 8,962 S 6,448 S 4,983 s 2,544,592

s 2,485,434 s 2,479,222 s 2,436,103 s 2,268,811 (2) 1.58% 1.62%

1.45% 1.06% 0.87% (1) S 6,904 S 6,949 S 6,209 S 4,612

S 2,721 - - 14 - (883) - - (4) 224 S 6,904 S 6,949 S 6,199 S 4,612

S 3,380 1) s 10,131 s 10,093 s 8,962 s 6,448 s 4,983 c 10131 c 10

003 c 14 8 048 c s 448 c (883) c 2cc • • • • (1) s 10,131 s 10,093

s 8,948 s 6,448 s 5,866 s 2,544,592 s 2,485,434 s 2,479,222 s 2,436,103

s 2,268,811 (2) 1.58% 1.62% 1.45% 1.06% 1.03% (1) S 6,904

S 6,949 S 6,199 S 4,612 S 3,380 S 2,544,592 s 2,485,434 S 2,479,222

S 2,436,103 S 2,268,811 (2) 1.08% 1.11% 1.01% 0.76% 0.59%

(1) • s 215,715 • s -,”9 206,641 • s 197,755 • s --- 193,092 • s 183,629

(2) 12.73% 13.38% 12.61% 9.61% 7.30% Operating

Revenue:

(1) Net interest income S 19,358 S 18,109 S 17,311 S 15,158 S 14,376 Non-interest income 3,627 3,438 3,211 2,464 1,326 Less: Net gains (losses) on sale of securities Operating revenue c 23 02c c 21 EA7 c 14 20 E09 c 17 £23 c (883) 1c coc — — — — — Operating Efficiency Ratio: (1) Total non-interest expense s 12,854 s 11,454 s 11,560 s 11,174 s 10,719 Operating revenue Operating efficiency ratio s 22,985 55.92% s 21,547 53.16% s 20,508 56.37% s 17,622 63.41% s 16,585 64.63% (1)The Company believes these non-GAAP measurements are key indicators ofthe ongoing eamings power of the Company.

(2) Annualized 18 APPENDIX - NON-GAAP RECONCILIATION In thousands (except ratios and share data) As of or For the Three Months Ended 12/31/2024 9/30/2024 6/30/2024 3/31/2024 12/31/2023 Tangible book value per common share (at period-end): (1) Total stockholders’ equity $ 215.388 $ 213,916 $ 201.020 $ 195,011 $ 191,968 Less: Intangible assets Total shares issued and outstanding (at period-end): Total common shares issued and outstanding 19,924,632 19,620,632 19,630,632 19,650,463 19,575,435 Tangible book value per common share (2) S 10.81 $ 10.90 $ 10.24 $ 9.92 $ 9.81 Operating diluted net income per common share: (1) Operating net income 3 6,904 3 6,949 3 6,199 3 4,612 3 3,380 Total weighted average diluted shares of common stock 20,183,731 19,825,211 19,717,167 19,698,258 19,573,350 Operating diluted net income per common share: $ 0.34 $ 0.35 $ 0.31 $ 0.23 $ 0.17 Tangible Com m on Equity/Tangible Assets (1) Tangible stockholders’ equity $ 215,388 $ 213,916 $ 201,020 $ 195,011 $ 191,968 Tangible total assets (3) $ 2,581,216 $ 2,503,954 $ 2,458,270 $ 2,489,142 $ 2,339,093 Tangible Common Equity/Tangible Assets 8.34% 8.54% 8.18% 7.83% 8.21% 1. The Company believes these non-GAAP measurements are key indicators of the ongoing earnings pow er of the Company. 2. Excludes the dilutive effect if any, of shares of common stock Issuable upon exercise of outstanding stock options. 3. Since the Company has no intangible assets, tangible total assets is the same amount as total assets calculated under GAAP. 19 CONTACT INFORMATION LOU DE LA AGUILERA Chairman, President & CEO (305) 715-5186 laguilera@uscentury.com ROB ANDERSON EVP, Chief Financial Officer (305) 715-5393 rob.anderson@uscentury.com INVESTOR RELATIONS InvestorRelations@uscentury.com 20