Uscb Financial Holdings, Inc. · NASDAQ:USCB
Uscb Financial — Q4 2024 Earnings Presentation
20 slides from Uscb Financial's earnings presentation, 2025
Slide 1: Earnings Presentation Fourth Quarter 2024
EARNINGS PRESENTATION FOURTH QUARTER 2024 NASDAQ: USCB
Slide 2: Forward-Looking Statements
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-l
Slide 3: Q4 2024 Highlights
Q4 2024 HIGHLIGHTS 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 sh
Slide 4: Historical Financials
HISTORICAL FINANCIALS EOP for Balance Sheet amounts Loans (1) Deposits Total stockholders' equity In millions In millions In millions $2,174 $215 $1,973 $782 $86 $735 2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 2024 2016 2017 2018 2019 2020 2021 2022 2023 202
Slide 5: Financial Results
FINANCIAL RESULTS In thousands (except per share data) Q4 2024 Q3 2024 Q4 2023 Total Securities $424,915 $426,528 $404,303 Balance Total Loans (1) $1,972,848 $1,931,362 $1,780,827 Total Assets $2,581,216 $2,503,954 $2,339,093 Sheet Total Deposits $2,174,004 $2,126,617 $1,937,139 (EOP) Total Equity (
Slide 6: Key Performance Indicators
KEY PERFORMANCE INDICATORS Q4 2024 Q3 2024 Q4 2023 In thousands (except for TBV/share) 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 GROWTH Tangible Book Value/Share (1)(2) $10.81 $10.90 $9
Slide 7: Deposit Portfolio
DEPOSIT PORTFOLIO Deposits AVG Commentary In millions $2,139 Average deposits increased $61.1 $2,083 $2,078 $1,914 $2,049 million or 11.7% annualized compared $341 $282 $323 $316 $326 to the prior quarter and increased $225.0 million or 11.8% compared to $1,098 $1,101 $1,085 $1,156 the fourth quarte
Slide 8: Loan Portfolio
LOAN PORTFOLIO Total Loans (AVG) Commentary In millions 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. $1,959 $1,878 $1,782 $1,828 Loan yield decreased 7 bps compared $1,699 to the prior quarter and
Slide 9: Loan Production
LOAN PRODUCTION Net Loan Production Trend Loan Composition Trend EOP (1) In millions In millions $180 8.16% 8.01% 8.50% $1,965 $160 8.00% 7.75% 8.00% 15% $140 7.14% 7.50% $120 $100 7.00% $948 58% $80 $150 $155 $157 $161 6.50% $60 $131 $123 28% $108 $95 6.00% $40 $91 63% $20 $46 5.50% 27% $0 5.00% 9%
Slide 10: Net Interest Margin
NET INTEREST MARGIN Net Interest Income/Margin (1) Commentary In thousands (except ratios) 3.16% $25,000 3.03% 3.50% Net interest income increased $1.2 2.94% 3.00% million or 27.4% annualized compared $20,000 2.65% 2.62% to prior quarter and $5.0 million or 2.50% 34.7% compared to the fourth quarter
Slide 11: Interest Rate Sensitivity
INTEREST RATE SENSITIVITY Loan Portfolio Repricing Profile Loan Repricing Schedule by Rate Type Variable/Hybrid Rate Loans Hybrid ARM 3% 10% 28% 24% 41% Variable Rate Fixed Rate 56% 41% 62% 23% 12% Prime CMT SOFR 0-1 yrs. 1-2 yrs. 2-3 yrs >3 yrs. Static NII Simulation Year 1 & 2 $5,000 Year 1 Year 2
Slide 12: Asset Quality
ASSET QUALITY Allowance for Credit Losses Commentary In thousands (except ratios) Allowance for credit losses increased 26,000 1.25% $1.0 million compared to prior quarter 1.22% 1.19% and $3.0 million compared to fourth 24,000 1.19% 1.18% 1.18% 1.20% quarter 2023. 22,000 20,000 1.15% ACL coverage ra
Slide 13: Loan Portfolio Mix
LOAN PORTFOLIO MIX Loan Portfolio Mix (1) Commentary Total loan balance at quarter end was Residential real estate 10% $1,965 million (1). 15% 4% CRE - Owner occupied Commercial Real Estate (owner occupied and non-owner occupied) 10% CRE - Non-owner occupied 13% was 57% or $1,128 million of the tota
Slide 14: Non-Interest Income
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 sal
Slide 15: Non-Interest Expense
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 Networ
Slide 16: Capital
CAPITAL Capital Ratios (1) Q4 2024 Q3 2024 Q4 2023 Well- Capitalized Leverage Ratio 9.53% 9.34% 9.28% 5.00% TCE/TA (2) 8.34% 8.54% 8.21% NA Tier 1 Risk- Based Capital 12.28% 12.01% 11.62% 8.00% Total Risk- 13.51% 13.22% 12.78% 10.00% Based Capital AOCI ($44.5) ($38.0) ($44.3) In Millions Commentary
Slide 17: Takeaways
TAKEAWAYS Leading franchise located in Strong asset quality, one of the most attractive with minimal charge- Robust organic growth banking markets in Florida offs experienced since and the U.S. 2015 recapitalization Strong profitability, Core funded deposit Experienced and tested with pathway for ba
Slide 18: Appendix - Non-GAAP Reconciliation
APPENDIX - NON-GAAP RECONCILIATION As of or For the Three Months Ended In thousands (except ratios) 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 1,4
Slide 19: Appendix - Non-GAAP Reconciliation
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 com m on share (at period-end): (1) Total stockholders' equity $ 215,388 $ 213,916 $ 201,020 $ 195,011 $ 191,
Slide 20: Contact Information
CONTACT INFORMATION LOU DE LA AGUILERA ROB ANDERSON Chairman, President & CEO EVP, Chief Financial Officer (305) 715-5186 (305) 715-5393 laguilera@uscentury.com rob.anderson@uscentury.com INVESTOR RELATIONS InvestorRelations@uscentury.com 20
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