GARDEN GROVE, Calif.--(BUSINESS WIRE)-- US Metro Bancorp (OTCQX: USMT): US Metro Bancorp (“Bancorp”) is a bank holding company, with a single subsidiary, US Metro Bank (“Bank”). On a consolidated basis, Bancorp earned $3.1 million in the third quarter of 2026, compared to $3.5 million in the second quarter of 2026. For the nine months ending September 30, 2026, the consolidated Bancorp earned $9.9 million compared to $8.0 million for the nine months ending September 30, 2025. On a year-to-date basis, Bancorp recorded an annualized return on average assets (“ROAA”) of 0.80% and an annualized return on average equity (“ROAE”) of 11.32%. With 16,791,500 shares outstanding, earnings per share (“EPS”) for the third quarter of 2026 was $0.19 compared to $0.21 in the second quarter of 2026. For the nine months ending September 30, 2026, EPS was $0.59 compared to $0.48 for the nine months ending September 30, 2025. On September 30, 2026, Bancorp’s book value per share was $7.06 compared to $6.62 a year earlier.
The Bank recorded on a year-to-date basis net interest income of $39.9 million compared to $33.1 million in the same period a year earlier. Net income of $11.7 million for the nine months ending September 30, 2026, compared to $9.2 million reported for the same nine months in 2025, a year over year increase of $2.55 million.
The Bank reported total assets of $1.730 billion as of September 30, 2026, representing a 10.2% increase compared to the reporting period ending September 30, 2025, and year over year loan growth of $157 million or 12.4%. Total Bank deposits ended the third quarter of 2026 at $1.527 billion, a $143 million or 10.3% increase from $1.384 billion on September 30, 2025.
Non-performing assets as a percentage of total assets of 1.39% on September 30, 2026, compared to 1.46% as of September 30, 2025. The Bank had $2.3 million Other Real Estate Owned (OREO) on September 30, 2026. Allowance for credit losses (ACL) to gross loans was 1.25% as of September 30, 2026, compared to 1.19% as of September 30, 2025. The Bank recorded a $7.6 million provision for credit losses, for the nine months ending September 30, 2026, compared to $2.2 million recorded for the nine months ending September 30, 2025.
“Our third quarter results reflect the continued strength of our core franchise. Year-to-date earnings of $9.9 million are up 24% over the same period last year, and we delivered double-digit year-over-year growth in loans, deposits, and total assets. While the third quarter earnings were modestly below the second quarter, we continued to prudently build our allowance for credit losses, and we are encouraged by the improvement in non-performing assets compared to a year ago. With book value per share rising to $7.06, we remain focused on finishing 2026 strong and building long-term value for our shareholders,” said CEO Dong Il Kim.
US Metro Bank is a California chartered, full service commercial bank headquartered in Garden Grove, California. The Bank opened for business on September 15, 2006, and offers deposit and loan products (including commercial real estate, commercial and industrial, mortgage, SBA and USDA loans), as well as related banking services to its customers.
This release contains forward-looking statements, including our expectations with respect to future events that are subject to various risks and uncertainties. Factors that could cause actual results to differ materially from management's projections, forecasts, estimates and expectations include: fluctuation in market rates of interest and loan and deposit pricing, adverse changes in the overall national economy as well as adverse economic conditions in our specific market areas, maintenance and development of well-established and valued client relationships and referral source relationships, and acquisition or loss of key production personnel. Other risks that can affect the Bank are detailed from time to time in our annual reports. We caution readers that the list of factors above is not exclusive. The forward-looking statements are made as of the date of this release, and we may not undertake steps to update the forward-looking statements to reflect the impact of any circumstances or events that arise after the date the forward-looking statements are made. In addition, our past results of operations are not necessarily indicative of future performance.
| US METRO BANCORP | |||||||||||||||||||
| CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited) | |||||||||||||||||||
| (All amounts in thousands except per share information) | |||||||||||||||||||
| At or for the Three Months Ended | |||||||||||||||||||
| 9/30/2026 | 6/30/2026 | % Change | 9/30/2025 | % Change | |||||||||||||||
| Net Income | $ |
3,136 |
$ |
3,460 |
-9.36 |
% |
$ |
2,944 |
6.53 |
% |
|||||||||
| Net Income Per Share (Basic) | $ |
0.19 |
$ |
0.21 |
-9.46 |
% |
$ |
0.18 |
4.87 |
% |
|||||||||
| ROAA (Annualized) | 0.74 |
% |
0.86 |
% |
- |
0.78 |
% |
-0.04 |
% |
||||||||||
| ROAE (Annualized) | 10.62 |
% |
11.90 |
% |
-1.29 |
% |
10.93 |
% |
-0.31 |
% |
|||||||||
| Efficiency Ratio | 59.54 |
% |
61.45 |
% |
-1.91 |
% |
66.22 |
% |
-6.68 |
% |
|||||||||
| Assets | $ |
1,732,110 |
$ |
1,643,388 |
5.40 |
% |
$ |
1,571,548 |
10.22 |
% |
|||||||||
| Gross Loans | $ |
1,427,006 |
$ |
1,371,561 |
4.04 |
% |
$ |
1,269,737 |
12.39 |
% |
|||||||||
| Deposits | $ |
1,524,872 |
$ |
1,436,212 |
6.17 |
% |
$ |
1,382,998 |
10.26 |
% |
|||||||||
| Non-Interest Bearing Deposits | $ |
247,922 |
$ |
261,851 |
-5.32 |
% |
$ |
241,209 |
2.78 |
% |
|||||||||
| Common Equity | $ |
118,518 |
$ |
117,728 |
0.67 |
% |
$ |
109,391 |
8.34 |
% |
|||||||||
| Ending Common Shares O/S | 16,791,500 |
16,791,500 |
- |
16,531,000 |
260,500 |
||||||||||||||
| Book Value Per Common Shares | $ |
7.06 |
$ |
7.01 |
$ |
0.05 |
$ |
6.62 |
$ |
0.44 |
|||||||||
At or for the Nine Months Ended |
|||||||||||||||||||
| 9/30/2026 | 9/30/2025 | Y-O-Y Change | |||||||||||||||||
| Net Income | $ |
9,932 |
$ |
7,984 |
$ |
1,948 |
24.40 |
% |
|||||||||||
| Net Income Per Share (Basic) | $ |
0.59 |
$ |
0.48 |
$ |
0.11 |
22.79 |
% |
|||||||||||
| ROAA (Annualized) | 0.80 |
% |
0.72 |
% |
0.09 |
% |
11.89 |
% |
|||||||||||
| ROAE (Annualized) | 11.32 |
% |
9.99 |
% |
1.33 |
% |
13.31 |
% |
|||||||||||
| Efficiency Ratio | 61.98 |
% |
68.06 |
% |
-6.07 |
% |
-8.93 |
% |
|||||||||||
| Assets | $ |
1,732,110 |
$ |
1,571,548 |
$ |
160,562 |
10.22 |
% |
|||||||||||
| Gross Loans (Excl. Loans HFS) | $ |
1,376,502 |
$ |
1,222,022 |
$ |
154,480 |
12.64 |
% |
|||||||||||
| Deposits | $ |
1,524,872 |
$ |
1,382,998 |
$ |
141,874 |
10.26 |
% |
|||||||||||
| Non-Interest Bearing Deposits | $ |
247,922 |
$ |
241,209 |
$ |
6,712 |
2.78 |
% |
|||||||||||
| Common Equity | $ |
118,518 |
$ |
109,391 |
$ |
9,127 |
8.34 |
% |
|||||||||||
| Ending Common Shares O/S | 16,791,500 |
16,531,000 |
260,500 |
1.58 |
% |
||||||||||||||
| Book Value Per Common Shares | $ |
7.06 |
$ |
6.62 |
$ |
0.44 |
6.66 |
% |
|||||||||||
| US METRO BANK (only) | ||||||||||||||
| FINANCIAL HIGHLIGHTS (unaudited) | ||||||||||||||
| BALANCE SHEET | ||||||||||||||
| (All amounts in thousands except per share information) | ||||||||||||||
| Assets | 9/30/2026 | 9/30/2025 | Y-O-Y Change | |||||||||||
| Cash and Due From Bank | $ |
13,004 |
$ |
14,196 |
$ |
(1,192 |
) |
-8.4 |
% |
|||||
| Investments and Fed Funds Sold | $ |
264,594 |
$ |
259,372 |
5,222 |
2.0 |
% |
|||||||
| Gross Loans | 1,427,006 |
1,269,737 |
157,269 |
12.4 |
% |
|||||||||
| Allowance for Credit Losses | (17,848 |
) |
(15,164 |
) |
(2,684 |
) |
17.7 |
% |
||||||
| Other Assets | 43,608 |
41,656 |
1,952 |
4.7 |
% |
|||||||||
| Total Assets | $ |
1,730,364 |
$ |
1,569,796 |
$ |
160,567 |
10.2 |
% |
||||||
| Liabilities and Capital | 9/30/2026 | 9/30/2025 | Y-O-Y Change | |||||||||||
| Deposits | $ |
1,527,313 |
$ |
1,384,193 |
$ |
143,120 |
10.3 |
% |
||||||
| Borrowings | 25,000 |
25,000 |
- |
0.0 |
% |
|||||||||
| Other Liabilities | 16,015 |
21,918 |
(5,903 |
) |
-26.9 |
% |
||||||||
| Equity | 162,035 |
138,685 |
23,350 |
16.8 |
% |
|||||||||
| Total Liabilities and Capital | $ |
1,730,364 |
$ |
1,569,796 |
$ |
160,567 |
10.2 |
% |
||||||
| STATEMENT OF OPERATIONS | Three Months Ended | |||||||||||||
| Income Statement | 9/30/2026 | 9/30/2025 | Q-O-Q Change | |||||||||||
| Interest Income | $ |
25,490 |
$ |
22,995 |
$ |
2,495 |
10.8 |
% |
||||||
| Interest Expense | 11,335 |
11,029 |
306 |
2.8 |
% |
|||||||||
| Net Interest Income | 14,154 |
11,966 |
2,188 |
18.3 |
% |
|||||||||
| Provision for Credit Losses | 3,600 |
1,300 |
2,300 |
176.9 |
% |
|||||||||
| Other Income | 6,571 |
4,753 |
1,818 |
38.3 |
% |
|||||||||
| Operating Expenses | 11,810 |
10,670 |
1,140 |
10.7 |
% |
|||||||||
| Tax | 1,573 |
1,403 |
170 |
12.1 |
% |
|||||||||
| Net Income | $ |
3,742 |
$ |
3,346 |
$ |
396 |
11.8 |
% |
||||||
| STATEMENT OF OPERATIONS | Nine Months Ended | |||||||||||||
| Income Statement | 9/30/2026 | 9/30/2025 | Y-O-Y Change | |||||||||||
| Interest Income | $ |
71,720 |
$ |
64,968 |
$ |
6,752 |
10.4 |
% |
||||||
| Interest Expense | 31,864 |
31,856 |
8 |
0.0 |
% |
|||||||||
| Net Interest Income | 39,856 |
33,112 |
6,744 |
20.4 |
% |
|||||||||
| Provision for Credit Losses | 7,600 |
2,200 |
5,400 |
245.5 |
% |
|||||||||
| Other Income | 19,614 |
10,745 |
8,869 |
82.5 |
% |
|||||||||
| Operating Expenses | 35,213 |
28,585 |
6,628 |
23.2 |
% |
|||||||||
| Tax | 4,909 |
3,878 |
1,031 |
26.6 |
% |
|||||||||
| Net Income | $ |
11,748 |
$ |
9,194 |
$ |
2,554 |
27.8 |
% |
||||||
| Ratios | 9/30/2026 | 9/30/2025 | Y-O-Y Change | |||||||||||
| Net Loan to Deposits | 92.26 |
% |
90.64 |
% |
1.63 |
% |
||||||||
| ACL/Gross Loans | 1.25 |
% |
1.19 |
% |
0.06 |
% |
||||||||
| NPAs/Total Assets | 1.39 |
% |
1.46 |
% |
-0.06 |
% |
||||||||
| Tier One Leverage Ratio | 9.97 |
% |
9.47 |
% |
0.51 |
% |
||||||||
| YTD ROAA (annualized) | 0.98 |
% |
0.85 |
% |
0.13 |
% |
||||||||
| YTD ROAE (annualized) | 9.71 |
% |
9.25 |
% |
0.47 |
% |
||||||||
| Net Interest Margin (QTD) | 3.39 |
% |
3.19 |
% |
0.20 |
% |
||||||||
| Net Interest Margin (YTD) | 3.38 |
% |
3.12 |
% |
0.26 |
% |
||||||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20261023953648/en/
Jeremy Johnson
(714) 620-8888
Source: US Metro Bancorp
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