Welcome to our dedicated page for Us Metro Bank news (Ticker: USMT), a resource for investors and traders seeking the latest updates and insights on Us Metro Bank stock.
US Metro Bank (USMT) delivers community-focused financial services through a strategic blend of traditional banking and digital innovation. This news hub provides investors and stakeholders with comprehensive updates on corporate developments, financial performance, and market positioning.
Access official press releases and curated news coverage spanning earnings announcements, product launches, leadership updates, and regulatory milestones. Our repository serves as a centralized source for tracking USMT's initiatives in consumer banking, commercial lending, and technology-driven service enhancements.
Discover updates on interest rate strategies, branch network expansions, and digital platform improvements that reflect the bank's dual focus on local engagement and operational modernization. Content spans quarterly financial disclosures, strategic partnerships, and compliance updates essential for informed decision-making.
Bookmark this page for ongoing access to verified information about USMT's financial health and community impact. Monitor how the bank balances deposit growth initiatives with credit risk management in evolving market conditions.
US Metro Bancorp (OTCQX: USMT) reported Q2 2024 earnings of $2.2 million, up from $1.5 million in Q1 2024 but down from $2.7 million in Q2 2023. EPS for Q2 2024 was $0.13, compared to $0.09 in Q1 2024 and $0.17 in Q2 2023. The bank's total assets grew 16.6% year-over-year to $1.348 billion, with loan growth of 17.0% and deposit growth of 18.4%.
Year-to-date, the bank reported net interest income of $40.0 million, up from $31.3 million in the same period last year. However, net income for the first six months of 2024 decreased to $4.3 million from $6.4 million in 2023. The bank's loan quality remained strong, with non-performing assets at 0.28% of total assets and an Allowance for Credit Losses (ACL) to gross loans ratio of 1.20%.
US Metro Bancorp (OTCQX: USMT) announced that its Board of Directors has approved an interim cash dividend of $0.03 per share.
This dividend will be payable on June 24, 2024, to shareholders who are on record by the close of business on June 7, 2024.
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