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.
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.
US Metro Bancorp reported a remarkable 230% increase in earnings for the year-to-date 2021 compared to 2020. In Q4 2021, earnings reached $4.528 million, up from $4.218 million in Q3 2021. Total annual earnings for 2021 reached $15.286 million, a significant rise from $4.629 million in 2020. The bank recorded a 30% increase in loans, with core loans growing by 42%. Deposits surged by 28% to $857.1 million. With strong loan quality and a solid capital position, the bank is well-prepared for ongoing economic challenges.
US Metro Bancorp (OTC-PINK: USMT) has announced a $0.05 cash dividend, which will be payable on December 15, 2021, to shareholders of record as of November 30, 2021. The bank operates in California, offering various banking services, including commercial loans and deposit products. This dividend declaration reflects the bank’s commitment to returning value to its shareholders while maintaining a focus on client relationships and business growth in the Southern California market.
US Metro Bancorp (OTCQX: USMT) reported a significant financial performance for the third quarter of 2021, earning $4.22 million, slightly lower than $4.25 million in Q2 2021. Year-to-date earnings reached $10.76 million, up 236% from $3.20 million in 2020. The annualized ROAA stands at 1.64%, and ROAE at 21.27%. EPS for Q3 was $0.26, consistent with Q2, while the nine-month EPS rose to $0.66. Loan growth was robust at 21%, with total deposits up 38% to $886.6 million. The bank maintains strong capital and liquidity despite lower earnings from liquid investments due to interest rate declines.
US Metro Bancorp (USMT) reported strong financial results for Q2 2021, with a consolidated net income of $4,252,210, up from $2,287,620 in Q1 2021. Year-to-date, net income reached $7,111,000, a 229% increase from $2,165,000 in the same period in 2020. Earnings per share (EPS) rose to $0.26 in Q2 and $0.40 for the first half of 2021, compared to $0.14 and $0.13 respectively in 2020. Deposits surged by 33% to $770.3 million and core loans grew by 21%, reflecting the bank's solid position amid economic challenges due to the COVID-19 pandemic.
US Metro Bancorp (USMT) reported a robust financial performance for Q1 2021, earning $2,288,000, a 123% increase from $1,025,000 in Q1 2020. The EPS rose to $0.14 from $0.06 a year earlier. Loan growth was significant at $194.7 million (47%), influenced by $88 million in PPP loans, while deposits surged $243.4 million (47%). Total assets reached $859.7 million. Despite the pandemic, the bank's capital and liquidity remain strong, positioning it well for future challenges.
US Metro Bancorp (USMT) reported financial results for Q4 2020, showing a net income of $863,000, down from $1,105,000 in Q3 and $4,067,000 for the entire year. EPS decreased to $0.05 from $0.07 quarter-over-quarter. Total assets increased by 41.4% year-over-year, reaching $767 million, while net interest income rose by 16%. Loan growth was robust at 51%, partially driven by $65 million in PPP loans. However, provision for loan losses surged to $4.4 million due to economic uncertainties. The company remains well-capitalized and positioned to navigate the ongoing challenges.