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 $2.5 million in the second quarter of 2025, compared to $2.6 million in the first quarter of 2025 and compared to $2.2 million for the three months ending June 30, 2024. On a year-to-date basis, Bancorp recorded an annualized return on average assets (“ROAA”) of 0.68% and an annualized return on average equity (“ROAE”) of 9.34%. With 16,520,000 shares outstanding, earnings per share (“EPS”) for the second quarter of 2025 was $0.15 compared to $0.16 in the first quarter of 2025 and compared to $0.13 for the three months ending June 30, 2024. On June 30, 2025, Bancorp’s book value per share was $6.43 compared to $5.94 a year earlier.
The Bank recorded on a year-to-date basis net interest income of $21.1 million compared to $16.9 million in the same period a year earlier. Net income of $5.8 million for the six months ending June 30, 2025, compared to $4.3 million reported for the same six months in 2024, a year over year increase of $1.6 million.
The Bank reported total assets of $1.452 billion as of June 30, 2025, representing a 7.7% increase compared to the reporting period ending June 30, 2024, and year over year loan growth of $102 million or 9.0%. Total Bank deposits ended the second quarter of 2025 at $1.281 billion, a $98 million or 8.3% increase from $1.183 billion on June 30, 2024.
Non-performing assets as a percentage of total assets was 1.11% on June 30, 2025, compared to 0.28% as of June 30, 2024. The Bank had no Other Real Estate Owned (OREO) on June 30, 2025. Allowance for credit losses (ACL) to gross loans was 1.20% as of June 30, 2025, compared to 1.20% as of June 30, 2024. The Bank recorded a $0.9 million provision for loan loss expense, for the six months ending June 30, 2025, compared to a $0.6 million provision recorded for the six months ending June 30, 2024.
“We are pleased with the positive performance in the second quarter of 2025 and year-over-year improvements to net income and notably to the net interest margin while the Bank continued to grow in both loans and deposits. The positive performance is expected to continue in the second half of the year.” 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 | ||||||||||||||
| 6/30/2025 | 3/31/2025 | % Change | 6/30/2024 | % Change | ||||||||||
| Net Income | $ | 2,453 | $ | 2,587 | -5.16% | $ | 2,185 | 12.25% | ||||||
| Net Income Per Share (Basic) | $ | 0.15 | $ | 0.16 | -5.16% | $ | 0.13 | 12.25% | ||||||
| ROAA (Annualized) | 0.68% | 0.73% | -0.05% | 0.66% | 0.02% | |||||||||
| ROAE (Annualized) | 9.34% | 10.10% | -0.77% | 9.00% | 0.34% | |||||||||
| Efficiency Ratio | 69.54% | 68.83% | 0.71% | 69.30% | 0.24% | |||||||||
| Assets | $ | 1,453,986 | $ | 1,418,623 | 2.49% | $ | 1,349,130 | 7.77% | ||||||
| Gross Loans | $ | 1,229,567 | $ | 1,198,131 | 2.62% | $ | 1,127,690 | 9.03% | ||||||
| Deposits | $ | 1,278,896 | $ | 1,220,062 | 4.82% | $ | 1,181,974 | 8.20% | ||||||
| Non-Interest Bearing Deposits | $ | 224,561 | $ | 218,496 | 2.78% | $ | 188,077 | 19.40% | ||||||
| Common Equity | $ | 106,191 | $ | 103,941 | 2.16% | $ | 98,163 | 8.18% | ||||||
| Ending Common Shares O/S | 16,520,000 | 16,520,000 | – | 16,520,000 | – | |||||||||
| Book Value Per Common Shares | $ | 6.43 | $ | 6.29 | $ | 0.14 | $ | 5.94 | $ | 0.49 | ||||
| US METRO BANK (only) | ||||||||||||||
| FINANCIAL HIGHLIGHTS (unaudited) | ||||||||||||||
| BALANCE SHEET | ||||||||||||||
| (All amounts in thousands except per share information) | ||||||||||||||
| Assets | 6/30/2025 | 6/30/2024 | Y-O-Y Change | |||||||||||
| Cash and Due From Bank | $ | 12,663 | $ | 14,071 | $ | (1,408 | ) | -10.0 | % | |||||
| Investments and Fed Funds Sold | $ | 190,392 | $ | 184,678 | 5,714 | 3.1 | % | |||||||
| Gross Loans | 1,229,567 | 1,127,691 | 101,876 | 9.0 | % | |||||||||
| Allowance for Credit Losses | (14,763 | ) | (13,511 | ) | (1,252 | ) | 9.3 | % | ||||||
| Other Assets | 34,522 | 35,123 | (601 | ) | -1.7 | % | ||||||||
| Total Assets | $ | 1,452,381 | $ | 1,348,052 | $ | 104,329 | 7.7 | % | ||||||
| Liabilities and Capital | 6/30/2025 | 6/30/2024 | Y-O-Y Change | |||||||||||
| Deposits | $ | 1,281,111 | $ | 1,183,450 | $ | 97,661 | 8.3 | % | ||||||
| Borrowings | 20,000 | 25,000 | (5,000 | ) | -20.0 | % | ||||||||
| Other Liabilities | 15,886 | 17,887 | (2,001 | ) | -11.2 | % | ||||||||
| Equity | 135,384 | 121,715 | 13,669 | 11.2 | % | |||||||||
| Total Liabilities and Capital | $ | 1,452,381 | $ | 1,348,052 | $ | 104,329 | 7.7 | % | ||||||
| STATEMENT OF OPERATIONS | Three Months Ended | |||||||||||||
| Income Statement | 6/30/2025 | 3/31/2025 | Q-O-Q Change | |||||||||||
| Interest Income | $ | 21,695 | $ | 20,277 | $ | 1,418 | 7.0 | % | ||||||
| Interest Expense | 10,576 | 10,250 | 326 | 3.2 | % | |||||||||
| Net Interest Income | 11,119 | 10,027 | 1,092 | 10.9 | % | |||||||||
| Provision for Credit Losses | 600 | 300 | 300 | 100.0 | % | |||||||||
| Other Income | 2,834 | 3,158 | (324 | ) | -10.3 | % | ||||||||
| Operating Expenses | 9,172 | 8,743 | 429 | 4.9 | % | |||||||||
| Tax | 1,231 | 1,244 | (13 | ) | -1.0 | % | ||||||||
| Net Income | $ | 2,950 | $ | 2,898 | $ | 52 | 1.8 | % | ||||||
| STATEMENT OF OPERATIONS | Six Months Ended | |||||||||||||
| Income Statement | 6/30/2025 | 6/30/2024 | Y-O-Y Change | |||||||||||
| Interest Income | $ | 41,972 | $ | 38,984 | $ | 2,988 | 7.7 | % | ||||||
| Interest Expense | 20,826 | 22,102 | (1,276 | ) | -5.8 | % | ||||||||
| Net Interest Income | 21,146 | 16,882 | 4,264 | 25.3 | % | |||||||||
| Provision for Credit Losses | 900 | 600 | 300 | 50.0 | % | |||||||||
| Other Income | 5,992 | 6,046 | (54 | ) | -0.9 | % | ||||||||
| Operating Expenses | 17,915 | 16,282 | 1,633 | 10.0 | % | |||||||||
| Tax | 2,475 | 1,761 | 714 | 40.5 | % | |||||||||
| Net Income | $ | 5,848 | $ | 4,285 | $ | 1,563 | 36.5 | % | ||||||
| Ratios | 6/30/2025 | 6/30/2024 | Y-O-Y Change | |||||||||||
| Net Loan to Deposits | 94.82 | % | 94.15 | % | 0.68 | % | ||||||||
| ACL/Gross Loans | 1.20 | % | 1.20 | % | – | |||||||||
| NPAs/Total Assets | 1.11 | % | 0.28 | % | 0.83 | % | ||||||||
| Tier One Leverage Ratio | 9.81 | % | 9.82 | % | -0.01 | % | ||||||||
| YTD ROAA (annualized) | 0.84 | % | 0.67 | % | 0.17 | % | ||||||||
| YTD ROAE (annualized) | 9.05 | % | 7.13 | % | 1.92 | % | ||||||||
| Net Interest Margin (QTD) | 3.17 | % | 2.77 | % | 0.40 | % | ||||||||
| Net Interest Margin (YTD) | 3.09 | % | 2.70 | % | 0.39 | % | ||||||||
