USCB Financial Holdings, Inc. Class A ( (USCB) ) has released its Q4 earnings. Here is a breakdown of the information USCB Financial Holdings, Inc. Class A presented to its investors.
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USCB Financial Holdings, Inc., the holding company for U.S. Century Bank, operates as one of the largest community banks in Miami and the State of Florida, offering a diverse range of financial products and services.
In its latest earnings report, USCB Financial Holdings, Inc. posted a fully diluted earnings per share (EPS) of $0.34 for the fourth quarter of 2024, marking a significant increase from $0.14 in the same quarter of the previous year. The company also announced a doubling of its quarterly dividend to $0.10 per share, underscoring a strong financial performance.
Key financial metrics for the quarter included a return on average assets of 1.08% and a return on average equity of 12.73%. The net interest margin rose to 3.16%, aided by a strategic focus on reducing deposit costs. Total assets grew by 10.4% to $2.6 billion, and total deposits increased by 12.2% to $2.2 billion, reflecting strong balance sheet growth.
Despite an increase in non-interest expenses due to non-routine items, the company maintained solid profitability. Non-interest income surged by 173.5%, driven by higher service fees, while non-performing loans remained low at 0.14% of total loans.
Looking ahead, USCB Financial Holdings plans to continue managing operating costs efficiently to sustain its performance and deliver value to its shareholders, supported by robust capital levels and a positive outlook for 2025.
