2
Conference Call and Webcast
The Company will host a conference call on
Friday, July 26, 2024, at 11:00 a.m. Eastern Time to discuss the Company’s unaudited financial results
for the quarter ended
June 30, 2024. To access the conference call, dial (833) 816-1416 (U.S. toll-free) and ask to join the
USCB Financial Holdings Call.
Additionally, interested parties can listen to a live webcast of the call in the “Investor Relations” section of the Company’s website at www.uscentury.com
.
An archived
version of the webcast will be available in the same location
shortly after the live call has ended.
About USCB Financial Holdings, Inc.
USCB Financial
Holdings, Inc. is
the bank
holding company for
U.S. Century
Bank. Established in
2002, U.S. Century
Bank is
one of
the largest
community banks
headquartered in
Miami, and
one of
the largest
community banks
in the
State of
Florida. U.S.
Century Bank
is rated
5-Stars by
BauerFinancial, the
nation’s leading
independent bank
rating firm. U.S.
Century Bank offers
customers a
wide range
of financial products
and services and
supports numerous community
organizations,
including the Greater Miami Chamber of Commerce,
the South Florida Hispanic Chamber of Commerce,
and ChamberSouth. For more information about us
or to find a
banking center near you, please call (305) 715-5200 or visit www.uscentury.com.
Forward-Looking Statements
This earnings release may contain
statements that are not
historical in nature and are
intended to be, and are
hereby identified as, forward-looking
statements for purposes
of the safe harbor provided by Section 21E
of the Securities Exchange Act of 1934, as amended.
Forward-looking statements are those that are not historical facts. The
words “may,” “will,” “anticipate,” “could,” “should,” “would,” “believe,” “contemplate,” “expect,” “aim,” “plan,”
“estimate,” “continue,” and “intend,”, the negative of
these terms, as well as other similar words and expressions of the future, are
intended to identify forward-looking statements. These forward-looking
statements include,
but are not limited
to, statements related to our
projected growth, anticipated future financial performance,
and management’s long-term performance
goals, as well as
statements relating to
the anticipated effects
on our results
of operations and
financial condition from
expected or potential
developments or events,
or business and
growth
strategies, including anticipated internal growth and balance
sheet restructuring.
These
forward-looking statements
involve significant
risks
and
uncertainties that
could
cause
our
actual
results to
differ
materially
from
those
anticipated
in
such
statements. Potential risks and uncertainties include, but are
not limited to:
•
the strength of the United States economy in general and the strength
of the local economies in which we conduct operations;
•
our ability to successfully manage interest rate risk, credit risk,
liquidity risk, and other risks inherent to our industry;
•
the accuracy of
our financial statement
estimates and assumptions,
including the estimates
used for our
credit loss reserve
and deferred tax
asset valuation allowance;
•
the efficiency and effectiveness of our internal control procedures and processes;
•
our ability to comply with the extensive laws and regulations
to which we are subject, including the laws for each
jurisdiction where we operate;
•
adverse changes or conditions in capital and financial markets,
including actual or potential stresses in the banking
industry;
•
deposit attrition and the level of our uninsured deposits;
•
legislative or regulatory changes and changes in
accounting principles, policies, practices or guidelines,
including the on-going effects of the implementation of the
Current Expected Credit Losses (“CECL”) standard;
•
the lack of
a significantly diversified loan
portfolio and the
concentration in the
South Florida market,
including the risks
of geographic, depositor,
and industry
concentrations, including our concentration in loans secured
by real estate, in particular, commercial real estate;
•
the effects of climate change;
•
the concentration of ownership of our common stock;
•
fluctuations in the price of our common stock;
•
our ability to fund or access the
capital markets at attractive rates and terms and
manage our growth, both organic growth as
well as growth through other means,
such as future acquisitions;
•
inflation, interest rate, unemployment rate, and market and monetary
fluctuations;
•
impacts of international hostilities and geopolitical events;
•
increased competition and its effect on the pricing of our products
and services as well as our interest rate spread
and net interest margin;
•
the loss of key employees;
•
the effectiveness of
our risk
management strategies, including
operational risks, including,
but not
limited to, client,
employee, or third-party
fraud and
security
breaches; and
•
other risks described in this earnings release and other filings we
make with the Securities and Exchange Commission (“SEC”).
All
forward-looking
statements
are
necessarily
only
estimates
of
future
results,
and
there
can
be
no
assurance
that
actual
results
will
not
differ
materially
from
expectations. Therefore, you are cautioned not to place undue reliance on any forward-looking statements. Further, forward-looking statements included in this earnings
release are made only as of the date hereof, and
we undertake no obligation to update or revise
any forward-looking statement to reflect events
or circumstances after the
date on which
the statements are made
or to reflect
the occurrence of unanticipated
events, unless required to
do so under
the federal securities
laws. You
should also
review the risk factors described in the reports the Company
filed or will file with the SEC.
Non-GAAP Financial Measures
This earnings
release includes
financial information
determined by
methods other
than in
accordance with
generally accepted
accounting principles
(“GAAP”). This
financial information includes
certain operating performance
measures. Management has
included these non-GAAP measures
because it believes
these measures may
provide useful
supplemental information
for evaluating
the Company’s
operations and
underlying performance
trends. Further,
management uses
these measures
in
managing and evaluating the
Company’s business
and intends to
refer to them in
discussions about our operations
and performance. Operating performance
measures
should be viewed in addition to,
and not as an alternative to
or substitute for, measures determined in accordance
with GAAP, and are not necessarily comparable to non-
GAAP measures that may
be presented by other companies.
Reconciliations of these non-GAAP
measures to the most
directly comparable GAAP measures
can be found
in the ‘Non-GAAP Reconciliation Tables’ included in the exhibits to this earnings release.
All numbers included in this press release are unaudited
unless otherwise noted.