USCB Financial Holdings, Inc.

For the quarter ended 06/30/2026, USCB Financial Holdings reported net income of $9.1 million, or $0.49 per diluted share, versus $0.40 a year ago, a 22.5% increase year over year. Return on average assets was 1.26%, return on average equity was 15.9%, and the efficiency ratio improved to 49.97% from 52.34% in Q1. Total assets surpassed $3 billion, loans grew to $2.3 billion, and deposits reached $2.5 billion; year over year, assets were up 11%, loans up 9.9%, and deposits up 5%. Net interest margin expanded to 3.49% from 3.27% in Q1, and net interest income rose to $24.4 million, up $2.3 million sequentially and $3.4 million year over year. On credit, nonperforming loans were 0.09% of total loans and net charge-offs were 0.05%. Looking ahead, management guided to high single-digit to low double-digit net loan growth for the back half of 2026 and said a 3.40% to 3.50% NIM is a good near-term modeling range.

Luis de la Aguilera framed the quarter as a milestone, pointing to the company crossing $3 billion in assets, record loan production, margin expansion, and pristine credit quality. He emphasized USCB’s relationship-driven, branch-light model and said the bank is well positioned to benefit from South Florida’s population growth, corporate relocation activity, and strong economic trends. He also highlighted strategic investments in people, technology, new lending teams, and deposit-gathering initiatives as growth drivers.

Robert Anderson said the quarter’s loan growth created an additional $1.3 million in provision expense upfront, with more of the earnings benefit expected in Q3. He cited net interest income of $24.4 million, NIM of 3.49%, pretax pre-provision income of just under $14 million, and tangible book value per share of $12.64, up 3.35% sequentially. He also noted average deposits of about $2.5 billion, a deposit cost of 2.16% down 4 basis points, capital ratios with total risk-based capital at 13.88%, and a quarterly cash dividend of $0.125 per share. On expenses, he said noninterest expense was $14 million and the efficiency ratio improved to 49.97%, while tax rate guidance was 25% for the rest of the year.

Analysts focused on the loan pipeline, the mix of correspondent banking production, and whether the bank would keep shifting cash into loans and securities. Management said new loan production could moderate to roughly $175 million to $190 million in a normal quarter, with a typical new-loan yield around 5.90% to 6.0%, and noted correspondent banking loans are short-duration 180-day notes. They also said the average loan size is still about $2 million, although total credit exposure per client has increased, and described deposit-gathering efforts such as the 1031 exchange initiative, association banking, correspondent banking, and attorney-focused relationships as gaining traction.