Under "CONSOLIDATED FINANCIAL HIGHLIGHTS (unaudited)," the table titled "At or for the Twelve Months Ended" shoud be removed.
The updated release reads:
US METRO BANCORP ANNOUNCES FIRST QUARTER 2026 RESULTS
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 $3.3 million in the first quarter of 2026, compared to $2.2 million in the fourth quarter of 2025. For the three months ending March 31, 2026, the consolidated Bancorp earned $3.3 million compared to $2.6 million for the three months ending March 31, 2025. On a year-to-date basis, Bancorp recorded an annualized return on average assets (“ROAA”) of 0.86% and an annualized return on average equity (“ROAE”) of 11.77%. With 16,738,500 shares outstanding, earnings per share (“EPS”) for the first quarter of 2026 was $0.20 compared to $0.14 in the fourth quarter of 2025. For the three months ending March 31, 2026, EPS was $0.20 compared to $0.16 for the three months ending March 31, 2025. On March 31, 2026, Bancorp’s book value per share was $6.86 compared to $6.29 a year earlier.
The Bank recorded on a year-to-date basis net interest income of $12.2 million compared to $10.0 million in the same period a year earlier. Net income of $3.9 million for the three months ending March 31, 2025, compared to $2.9 million reported for the same three months in 2025, a year over year increase of $1.0 million.
The Bank reported total assets of $1.563 billion as of March 31, 2026, representing a 10.3% increase compared to the reporting period ending March 31, 2025, and year over year loan growth of $105 million or 8.7%. Total Bank deposits ended the first quarter of 2026 at $1.363 billion, a $126 million or 10.1% increase from $1.238 billion on March 31, 2025.
Non-performing assets as a percentage of total assets of 1.41% on March 31, 2026, compared to 0.92% as of March 31, 2025. The Bank had $3.4 million Other Real Estate Owned (OREO) on March 31, 2026. Allowance for credit losses (ACL) to gross loans was 1.27% as of March 31, 2026, compared to 1.20% as of March 31, 2025. The Bank recorded a $1.6 million provision for loan loss expense, for the three months ending March 31, 2026, compared to $0.3 million recorded for the three months ending March 31, 2025.
“The Bank has continued to improve profitability and performance metrics in the first quarter of 2026, notably in ROE, NIM, and efficiencies. The Bank continued its growth in both loans and deposits while expanding our lending capabilities,” 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 |
|||||||||||||||||||
|
3/31/2026 |
|
12/31/2025 |
|
% Change |
|
3/31/2025 |
|
% Change |
||||||||||
| Net Income | $ |
3,335 |
|
$ |
2,249 |
|
|
48.33 |
% |
$ |
2,587 |
|
|
28.95 |
% |
||||
| Net Income Per Share (Basic) | $ |
0.20 |
|
$ |
0.14 |
|
|
47.28 |
% |
$ |
0.16 |
|
|
27.26 |
% |
||||
| ROAA (Annualized) |
|
0.86 |
% |
|
0.58 |
% |
|
0.28 |
% |
|
0.73 |
% |
|
0.12 |
% |
||||
| ROAE (Annualized) |
|
11.77 |
% |
|
8.13 |
% |
|
3.63 |
% |
|
10.10 |
% |
|
1.67 |
% |
||||
| Efficiency Ratio |
|
65.21 |
% |
|
71.28 |
% |
|
-6.07 |
% |
|
68.83 |
% |
|
-3.62 |
% |
||||
| Assets | $ |
1,565,399 |
|
$ |
1,552,870 |
|
|
0.81 |
% |
$ |
1,418,623 |
|
|
10.35 |
% |
||||
| Gross Loans | $ |
1,302,962 |
|
$ |
1,277,909 |
|
|
1.96 |
% |
$ |
1,198,131 |
|
|
8.75 |
% |
||||
| Deposits | $ |
1,361,612 |
|
$ |
1,351,533 |
|
|
0.75 |
% |
$ |
1,220,062 |
|
|
11.60 |
% |
||||
| Non-Interest Bearing Deposits | $ |
239,729 |
|
$ |
225,956 |
|
|
6.10 |
% |
$ |
218,496 |
|
|
9.72 |
% |
||||
| Common Equity | $ |
114,866 |
|
$ |
111,928 |
|
|
2.62 |
% |
$ |
103,941 |
|
|
10.51 |
% |
||||
| Ending Common Shares O/S |
|
16,738,500 |
|
|
16,621,000 |
|
|
117,500 |
|
|
16,520,000 |
|
|
218,500 |
|
||||
| Book Value Per Common Shares | $ |
6.86 |
|
$ |
6.73 |
|
$ |
0.13 |
|
$ |
6.29 |
|
$ |
0.57 |
|
||||
| US METRO BANK (only) | ||||||||||||||
| FINANCIAL HIGHLIGHTS (unaudited) | ||||||||||||||
| BALANCE SHEET | ||||||||||||||
| (All amounts in thousands except per share information) | ||||||||||||||
| Assets | 3/31/2026 | 3/31/2025 | Y-O-Y Change | |||||||||||
| Cash and Due From Bank | $ |
15,794 |
|
$ |
26,056 |
|
$ |
(10,262 |
) |
-39.4 |
% |
|||
| Investments and Fed Funds Sold | $ |
221,247 |
|
$ |
172,758 |
|
|
48,489 |
|
28.1 |
% |
|||
| Gross Loans |
|
1,302,962 |
|
|
1,198,131 |
|
|
104,831 |
|
8.7 |
% |
|||
| Allowance for Credit Losses |
|
(16,607 |
) |
|
(14,406 |
) |
|
(2,201 |
) |
15.3 |
% |
|||
| Other Assets |
|
39,740 |
|
|
34,662 |
|
|
5,078 |
|
14.6 |
% |
|||
| Total Assets | $ |
1,563,136 |
|
$ |
1,417,201 |
|
$ |
145,935 |
|
10.3 |
% |
|||
| Liabilities and Capital | 3/31/2026 | 3/31/2025 | Y-O-Y Change | |||||||||||
| Deposits | $ |
1,363,044 |
|
$ |
1,237,500 |
|
$ |
125,544 |
|
10.1 |
% |
|||
| Borrowings |
|
25,000 |
|
|
35,000 |
|
|
(10,000 |
) |
- |
|
|||
| Other Liabilities |
|
16,287 |
|
|
17,251 |
|
|
(964 |
) |
-5.6 |
% |
|||
| Equity |
|
158,805 |
|
|
127,450 |
|
|
31,355 |
|
24.6 |
% |
|||
| Total Liabilities and Capital | $ |
1,563,136 |
|
$ |
1,417,201 |
|
$ |
145,935 |
|
10.3 |
% |
|||
| STATEMENT OF OPERATIONS | Three Months Ended | |||||||||||||
| Income Statement | 3/31/2026 | 12/31/2025 | Q-O-Q Change | |||||||||||
| Interest Income | $ |
22,256 |
|
$ |
23,002 |
|
$ |
(746 |
) |
-3.2 |
% |
|||
| Interest Expense |
|
10,061 |
|
|
11,068 |
|
|
(1,007 |
) |
-9.1 |
% |
|||
| Net Interest Income |
|
12,195 |
|
|
11,934 |
|
|
261 |
|
2.2 |
% |
|||
| Provision for Credit Losses |
|
1,600 |
|
|
1,700 |
|
|
(100 |
) |
-5.9 |
% |
|||
| Other Income |
|
6,779 |
|
|
5,966 |
|
|
813 |
|
13.6 |
% |
|||
| Operating Expenses |
|
11,790 |
|
|
11,886 |
|
|
(97 |
) |
-0.8 |
% |
|||
| Tax |
|
1,636 |
|
|
1,221 |
|
|
415 |
|
34.0 |
% |
|||
| Net Income | $ |
3,949 |
|
$ |
3,093 |
|
$ |
856 |
|
27.7 |
% |
|||
| STATEMENT OF OPERATIONS | Three Months Ended | |||||||||||||
| Income Statement | 3/31/2026 | 3/31/2025 | Y-O-Y Change | |||||||||||
| Interest Income | $ |
22,256 |
|
$ |
20,277 |
|
$ |
1,979 |
|
9.8 |
% |
|||
| Interest Expense |
|
10,061 |
|
|
10,250 |
|
|
(189 |
) |
-1.8 |
% |
|||
| Net Interest Income |
|
12,195 |
|
|
10,027 |
|
|
2,168 |
|
21.6 |
% |
|||
| Provision for Credit Losses |
|
1,600 |
|
|
300 |
|
|
1,300 |
|
433.3 |
% |
|||
| Other Income |
|
6,779 |
|
|
3,158 |
|
|
3,621 |
|
114.7 |
% |
|||
| Operating Expenses |
|
11,790 |
|
|
8,743 |
|
|
3,047 |
|
34.8 |
% |
|||
| Tax |
|
1,636 |
|
|
1,244 |
|
|
392 |
|
31.5 |
% |
|||
| Net Income | $ |
3,949 |
|
$ |
2,898 |
|
$ |
1,051 |
|
36.3 |
% |
|||
| Ratios | 3/31/2026 | 3/31/2025 | Y-O-Y Change | |||||||||||
| Net Loan to Deposits |
|
94.37 |
% |
|
95.65 |
% |
|
-1.28 |
% |
|||||
| ACL/Gross Loans |
|
1.27 |
% |
|
1.20 |
% |
|
0.07 |
% |
|||||
| NPAs/Total Assets |
|
1.41 |
% |
|
0.92 |
% |
|
0.49 |
% |
|||||
| Tier One Leverage Ratio |
|
10.61 |
% |
|
9.61 |
% |
|
1.00 |
% |
|||||
| YTD ROAA (annualized) |
|
1.04 |
% |
|
0.85 |
% |
|
0.19 |
% |
|||||
| YTD ROAE (annualized) |
|
10.06 |
% |
|
9.25 |
% |
|
0.82 |
% |
|||||
| Net Interest Margin (QTD) |
|
3.28 |
% |
|
3.00 |
% |
|
0.28 |
% |
|||||
| Net Interest Margin (YTD) |
|
3.28 |
% |
|
3.00 |
% |
|
0.28 |
% |
|||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260424099328/en/
Contacts
Jeremy Johnson
(714) 620-8888
