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 Bancorp (OTCQX: USMT) is a bank holding company for US Metro Bank, a California chartered, full service commercial bank headquartered in Garden Grove, California. The bank opened for business on September 15, 2006 and focuses on deposit and loan products, including commercial real estate, commercial and industrial, mortgage, SBA, and in some disclosures USDA loans, along with related banking services.
This news page compiles company-issued updates and announcements about US Metro Bancorp and US Metro Bank. Readers can review periodic financial results where the company reports net income, net interest income, return on average assets (ROAA), return on average equity (ROAE), net interest margin, efficiency ratio, and key balance sheet figures such as total assets, gross loans, deposits, borrowings, and equity.
US Metro Bancorp’s news releases also cover decisions by its Board of Directors to declare interim cash dividends on common stock, including the dividend amount per share and record and payment dates. In addition, the company reports on subordinated note capital raises and redemptions, describing private placements of fixed interest rate subordinated debt notes, their maturities, interest rates, and intended uses of proceeds for general corporate purposes and repayment or refinancing of existing debt.
Operational developments appear in these updates as well, such as the opening of a branch in Lakewood, Washington, which the bank states expanded its presence in the Seattle, Washington area. By following this news feed, investors and observers can see how US Metro Bancorp communicates its financial performance, capital management actions, dividend declarations, and selected branch expansion activities over time.
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US Metro Bancorp (OTCQX: USMT) has announced a cash dividend of $0.03 per share, payable on March 15, 2023 to shareholders of record as of the close on February 28, 2023. The bank operates in California, providing a range of financial services including commercial real estate and SBA loans, across its six branches. Established in 2006, US Metro Bank services clients in the Southern California area with a focus on small to medium-sized businesses.
However, the release contains warnings regarding potential risks including market fluctuations and economic conditions that may impact future performance.
US Metro Bancorp (OTCQX: USMT) reported strong financial results for Q4 2022, with earnings of $4.46 million, up from $4.08 million in Q3 2022. Total earnings for 2022 reached $16.44 million, a 4.67% increase from 2021. The bank achieved a return on average assets (ROAA) of 1.98% and a return on average equity (ROAE) of 26.54%. Total assets grew 15.8% year-over-year to $1.12 billion, while total deposits rose 14.0% to $977 million. Net interest income increased 36.6% to $10.6 million. However, SBA premium income fell significantly to $8.3 million from $15.9 million. The bank is well-positioned for future growth, despite the retirement of CFO Ralph Wiita.
US Metro Bancorp (OTCQX: USMT) announced a cash dividend of $0.05 per share, payable on December 15, 2022, to shareholders of record as of the close on November 30, 2022. This dividend aims to provide returns to investors while reflecting the bank's ongoing commitment to shareholder value.
Headquartered in Garden Grove, California, US Metro Bank operates multiple branches across the state and offers various banking services focused on small to medium-sized businesses in Southern California.
US Metro Bancorp (OTCQX: USMT) reported a year-to-date earnings increase of 11% in 2022 compared to 2021, with third-quarter earnings of $4,076,000, a slight decline from $4,220,000 in Q2 2022. Total income for the nine months ending September 30, 2022, was $11,976,000, up from $10,758,000 last year. Loans grew 26% year-over-year, while deposits increased by 11%. Earnings per share (EPS) was $0.25 for Q3 2022, down from $0.26 Q2 2022. The bank maintains strong asset growth and credit quality, but SBA loan originations decreased from the previous year.
US Metro Bancorp (OTCQX: USMT) reported a robust financial performance for Q2 2022 with earnings reaching $4.22 million, reflecting a 21% increase year-to-date compared to $3.68 million in Q1 2022. Year-to-date earnings totaled $7.9 million, up from $6.54 million in the previous year. Loans surged by 40% annually to $247.5 million, with deposits also rising 26% to $971.5 million. EPS for Q2 stood at $0.26, a rise from $0.23 in Q1 2022. The bank holds total assets of $1.1 billion, indicating a 24% growth from 2021. Non-performing assets remained stable at 0.26%. Mr. Kim noted the bank's strong capital and liquidity position.
US Metro Bancorp (OTCQX: USMT) reported robust financial results for Q1 2022, with earnings of $3.68 million, a 61% increase from $2.29 million in Q1 2021. The bank's return on average assets (ROAA) stood at 1.45%, and return on average equity (ROAE) was 19.11%. Year-over-year, loans grew by 36%, while deposits increased by 26%. Non-performing assets were low at 0.28%, reflecting strong credit quality. The bank's total assets reached $1.06 billion, a 24% rise from the previous year.
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