US Metro Bancorp Announces Fourth Quarter 2024 Results
US Metro Bancorp (USMT) reported Q4 2024 earnings of $1.7 million, unchanged from Q3 2024. Full-year 2024 earnings decreased to $7.1 million from $10.6 million in 2023. The company achieved an annualized ROAA of 0.53% and ROAE of 7.24%.
Key financial metrics include: Q4 2024 EPS of $0.11 (flat vs Q3), full-year EPS of $0.43 (down from $0.65 in 2023), and book value per share of $6.11 (up from $5.81). The Bank's net interest income increased to $36.1 million from $34.8 million year-over-year.
Total assets grew 13.9% to $1.396 billion, with loan growth of 15.2% ($155.3 million) and deposit growth of 15.4% ($164.0 million). Non-performing assets ratio increased to 0.66% from 0.09%, while ACL to gross loans decreased to 1.20% from 1.27%.
US Metro Bancorp (USMT) ha riportato un utile di 1,7 milioni di dollari per il quarto trimestre del 2024, invariato rispetto al terzo trimestre del 2024. Gli utili per l'intero anno 2024 sono diminuiti a 7,1 milioni di dollari rispetto ai 10,6 milioni di dollari del 2023. L'azienda ha ottenuto un ROAA annualizzato dello 0,53% e un ROAE del 7,24%.
I principali indicatori finanziari includono: utile per azione (EPS) del quarto trimestre 2024 di 0,11 dollari (invariato rispetto al terzo trimestre), EPS per l'intero anno di 0,43 dollari (in calo rispetto a 0,65 dollari nel 2023), e valore contabile per azione di 6,11 dollari (in aumento rispetto a 5,81 dollari). Il reddito netto da interessi della banca è aumentato a 36,1 milioni di dollari rispetto ai 34,8 milioni di dollari dell'anno precedente.
Il totale degli attivi è cresciuto del 13,9% a 1,396 miliardi di dollari, con una crescita dei prestiti del 15,2% (155,3 milioni di dollari) e una crescita dei depositi del 15,4% (164,0 milioni di dollari). Il rapporto delle attività non performanti è aumentato allo 0,66% rispetto allo 0,09%, mentre l'ACL sui prestiti lordi è diminuito all'1,20% rispetto all'1,27%.
US Metro Bancorp (USMT) reportó ganancias de 1,7 millones de dólares en el cuarto trimestre de 2024, sin cambios con respecto al tercer trimestre de 2024. Las ganancias del año completo 2024 disminuyeron a 7,1 millones de dólares desde 10,6 millones de dólares en 2023. La empresa logró un ROAA anualizado del 0,53% y un ROAE del 7,24%.
Los indicadores financieros clave incluyen: EPS del cuarto trimestre de 2024 de 0,11 dólares (plano respecto al tercer trimestre), EPS del año completo de 0,43 dólares (bajo desde 0,65 dólares en 2023), y valor contable por acción de 6,11 dólares (arriba desde 5,81 dólares). Los ingresos netos por intereses del banco aumentaron a 36,1 millones de dólares desde 34,8 millones de dólares en el año anterior.
Los activos totales crecieron un 13,9% a 1.396 millones de dólares, con un crecimiento de préstamos del 15,2% (155,3 millones de dólares) y un crecimiento de depósitos del 15,4% (164,0 millones de dólares). La relación de activos no productivos aumentó al 0,66% desde el 0,09%, mientras que ACL sobre préstamos brutos disminuyó al 1,20% desde el 1,27%.
US Metro Bancorp (USMT)는 2024년 4분기 수익이 170만 달러로, 2024년 3분기와 동일하다고 보고했습니다. 2024년 전체 연간 수익은 2023년의 1060만 달러에서 710만 달러로 감소했습니다. 이 회사는 연간 ROAA가 0.53%, ROAE가 7.24%에 도달했습니다.
주요 재무 지표에는 2024년 4분기 주당순이익(EPS) 0.11달러(3분기와 동일), 연간 EPS 0.43달러(2023년 0.65달러에서 하락), 주당 장부가가치 6.11달러(5.81달러에서 상승)가 포함됩니다. 은행의 순이자수익은 작년 3480만 달러에서 3610만 달러로 증가했습니다.
총 자산은 13.9% 증가하여 13억 9600만 달러가 되었고, 대출은 15.2% 증가했습니다(1억 5530만 달러) 및 예금은 15.4% 증가했습니다(1억 6400만 달러). 부실 자산 비율은 0.09%에서 0.66%로 증가하였고, 총 대출 대비 ACL은 1.27%에서 1.20%로 감소하였습니다.
US Metro Bancorp (USMT) a rapporté un bénéfice de 1,7 million de dollars au quatrième trimestre 2024, stable par rapport au troisième trimestre 2024. Le bénéfice pour l'année entière 2024 a diminué à 7,1 millions de dollars contre 10,6 millions de dollars en 2023. L'entreprise a atteint un ROAA annualisé de 0,53 % et un ROAE de 7,24 %.
Les principaux indicateurs financiers comprennent : un BPA du quatrième trimestre 2024 de 0,11 dollar (stable par rapport au T3), un BPA pour l'année entière de 0,43 dollar (en baisse par rapport à 0,65 dollar en 2023), et une valeur comptable par action de 6,11 dollars (en hausse par rapport à 5,81 dollars). Le revenu net d'intérêts de la banque a augmenté à 36,1 millions de dollars contre 34,8 millions de dollars l'année précédente.
Le total des actifs a augmenté de 13,9 % pour atteindre 1,396 milliard de dollars, avec une croissance des prêts de 15,2 % (155,3 millions de dollars) et une croissance des dépôts de 15,4 % (164,0 millions de dollars). Le ratio des actifs non performants a augmenté à 0,66 % contre 0,09 %, tandis que l'ACL par rapport aux prêts bruts a diminué à 1,20 % contre 1,27 %.
US Metro Bancorp (USMT) meldete im vierten Quartal 2024 einen Gewinn von 1,7 Millionen US-Dollar, unverändert im Vergleich zum dritten Quartal 2024. Der Gewinn für das gesamte Jahr 2024 fiel von 10,6 Millionen US-Dollar im Jahr 2023 auf 7,1 Millionen US-Dollar. Das Unternehmen erzielte eine annualisierte ROAA von 0,53% und eine ROAE von 7,24%.
Zu den wichtigsten Finanzkennzahlen gehören: Q4 2024 EPS von 0,11 USD (stabil im Vergleich zum Q3), EPS für das gesamte Jahr von 0,43 USD (sank von 0,65 USD im Jahr 2023) und Buchwert pro Aktie von 6,11 USD (gestiegen von 5,81 USD). Die Nettozinseinnahmen der Bank stiegen von 34,8 Millionen US-Dollar im Vorjahr auf 36,1 Millionen US-Dollar.
Die Gesamtaktiva wuchsen um 13,9% auf 1,396 Milliarden US-Dollar, wobei das Kreditwachstum 15,2% (155,3 Millionen US-Dollar) und das Einlagenwachstum 15,4% (164,0 Millionen US-Dollar) betrug. Die Quote der notleidenden Kredite stieg auf 0,66% von 0,09%, während das ACL im Verhältnis zu den Bruttoforderungen auf 1,20% von 1,27% sank.
- Total assets grew 13.9% year-over-year to $1.396 billion
- Loan portfolio increased 15.2% ($155.3 million)
- Deposits grew 15.4% ($164.0 million)
- Net interest income increased to $36.1 million from $34.8 million
- Book value per share improved to $6.11 from $5.81
- Full-year earnings declined 33% to $7.1 million from $10.6 million
- Annual EPS decreased to $0.43 from $0.65
- Non-performing assets ratio increased to 0.66% from 0.09%
- Provision for loan losses increased to $1.6 million from $0.5 million
The Bank recorded on a year-to-date basis net interest income of
The Bank reported total assets of
Loan quality remains good with non-performing assets as a percentage of total assets of
“The Bank continued its growth in both loans and deposits in 2024. We are optimistic about 2025 and the future of US Metro Bank,” said CEO Dong Il Kim.
US Metro Bank is a
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 | |||||||||||||||||||
12/31/2024 |
9/30/2024 |
% Change | 12/31/2023 |
% Change | |||||||||||||||
| Net Income | $ |
1,745 |
|
$ |
1,741 |
|
|
0.25 |
% |
$ |
2,479 |
|
|
-29.60 |
% |
||||
| Net Income Per Share (Basic) | $ |
0.11 |
|
$ |
0.11 |
|
|
- |
|
$ |
0.15 |
|
|
-29.57 |
% |
||||
| ROAA (Annualized) |
|
0.50 |
% |
|
0.51 |
% |
|
-0.01 |
% |
|
0.82 |
% |
|
-0.32 |
% |
||||
| ROAE (Annualized) |
|
6.91 |
% |
|
7.00 |
% |
|
-0.09 |
% |
|
10.65 |
% |
|
-3.74 |
% |
||||
| Efficiency Ratio |
|
74.15 |
% |
|
76.42 |
% |
|
-2.27 |
% |
|
70.03 |
% |
|
4.12 |
% |
||||
| Assets | $ |
1,397,183 |
|
$ |
1,388,089 |
|
|
0.66 |
% |
$ |
1,225,976 |
|
|
13.96 |
% |
||||
| Gross Loans | $ |
1,176,385 |
|
$ |
1,129,300 |
|
|
4.17 |
% |
$ |
1,021,079 |
|
|
15.21 |
% |
||||
| Deposits | $ |
1,227,177 |
|
$ |
1,214,579 |
|
|
1.04 |
% |
$ |
1,063,481 |
|
|
15.39 |
% |
||||
| Non-Interest Bearing Deposits | $ |
211,060 |
|
$ |
201,331 |
|
|
4.83 |
% |
$ |
173,600 |
|
|
21.58 |
% |
||||
| Common Equity | $ |
101,004 |
|
$ |
100,918 |
|
|
0.09 |
% |
$ |
95,229 |
|
|
6.07 |
% |
||||
| Ending Common Shares O/S |
|
16,520,000 |
|
|
16,520,000 |
|
|
- |
|
|
16,390,000 |
|
|
130,000 |
|
||||
| Book Value Per Common Shares | $ |
6.11 |
|
$ |
6.11 |
|
$ |
- |
|
$ |
5.81 |
|
$ |
0.30 |
|
||||
At or for the Twelve Months Ended |
|||||||||||||||||||
12/31/2024 |
12/31/2023 |
Y-O-Y Change | |||||||||||||||||
| Net Income | $ |
7,138 |
|
$ |
10,615 |
|
$ |
(3,477 |
) |
|
-32.76 |
% |
|||||||
| Net Income Per Share (Basic) | $ |
0.43 |
|
$ |
0.65 |
|
$ |
(0.22 |
) |
|
-34.64 |
% |
|||||||
| ROAA (Annualized) |
|
0.53 |
% |
|
0.88 |
% |
|
-0.35 |
% |
|
-39.44 |
% |
|||||||
| ROAE (Annualized) |
|
7.24 |
% |
|
11.40 |
% |
|
-4.16 |
% |
|
-36.50 |
% |
|||||||
| Efficiency Ratio |
|
74.74 |
% |
|
67.03 |
% |
|
7.71 |
% |
|
11.50 |
% |
|||||||
| Assets | $ |
1,397,183 |
|
$ |
1,225,976 |
|
$ |
171,207 |
|
|
13.96 |
% |
|||||||
| Gross Loans (Excl. Loans HFS) | $ |
1,161,242 |
|
$ |
1,010,838 |
|
$ |
150,404 |
|
|
14.88 |
% |
|||||||
| Deposits | $ |
1,227,177 |
|
$ |
1,063,481 |
|
$ |
163,696 |
|
|
15.39 |
% |
|||||||
| Non-Interest Bearing Deposits | $ |
211,060 |
|
$ |
173,600 |
|
$ |
37,460 |
|
|
21.58 |
% |
|||||||
| Common Equity | $ |
101,004 |
|
$ |
95,229 |
|
$ |
5,776 |
|
|
6.07 |
% |
|||||||
| Ending Common Shares O/S |
|
16,520,000 |
|
|
16,390,000 |
|
|
130,000 |
|
|
0.79 |
% |
|||||||
| Book Value Per Common Shares | $ |
6.11 |
|
$ |
5.81 |
|
$ |
0.30 |
|
|
5.23 |
% |
|||||||
| US METRO BANK (only) | ||||||||||||||
| FINANCIAL HIGHLIGHTS (unaudited) | ||||||||||||||
| BALANCE SHEET | ||||||||||||||
| (All amounts in thousands except per share information) | ||||||||||||||
| Assets | 12/31/2024 |
12/31/2023 |
Y-O-Y Change | |||||||||||
| Cash and Due From Bank | $ |
20,275 |
|
$ |
13,428 |
|
$ |
6,847 |
|
51.0 |
% |
|||
| Investments and Fed Funds Sold | $ |
178,489 |
|
$ |
169,664 |
|
|
8,825 |
|
5.2 |
% |
|||
| Gross Loans |
|
1,176,385 |
|
|
1,021,079 |
|
|
155,306 |
|
15.2 |
% |
|||
| Allowance for Credit Losses |
|
(14,106 |
) |
|
(12,961 |
) |
|
(1,145 |
) |
8.8 |
% |
|||
| Other Assets |
|
34,830 |
|
|
33,898 |
|
|
932 |
|
2.7 |
% |
|||
| Total Assets | $ |
1,395,874 |
|
$ |
1,225,108 |
|
$ |
170,766 |
|
13.9 |
% |
|||
| Liabilities and Capital | 12/31/2024 |
12/31/2023 |
Y-O-Y Change | |||||||||||
| Deposits | $ |
1,228,525 |
|
$ |
1,064,534 |
|
$ |
163,991 |
|
15.4 |
% |
|||
| Borrowings |
|
25,000 |
|
|
25,000 |
|
|
- |
|
- |
|
|||
| Other Liabilities |
|
17,893 |
|
|
16,328 |
|
|
1,565 |
|
9.6 |
% |
|||
| Equity |
|
124,456 |
|
|
119,246 |
|
|
5,210 |
|
4.4 |
% |
|||
| Total Liabilities and Capital | $ |
1,395,874 |
|
$ |
1,225,108 |
|
$ |
170,766 |
|
13.9 |
% |
|||
| STATEMENT OF OPERATIONS | Three Months Ended | |||||||||||||
| Income Statement | 12/31/2024 |
9/30/2024 |
Q-O-Q Change | |||||||||||
| Interest Income | $ |
21,262 |
|
$ |
21,151 |
|
$ |
111 |
|
0.5 |
% |
|||
| Interest Expense |
|
11,428 |
|
|
11,763 |
|
|
(335 |
) |
-2.8 |
% |
|||
| Net Interest Income |
|
9,833 |
|
|
9,388 |
|
|
445 |
|
4.7 |
% |
|||
| Provision for Credit Losses |
|
700 |
|
|
300 |
|
|
400 |
|
133.3 |
% |
|||
| Other Income |
|
3,290 |
|
|
2,913 |
|
|
377 |
|
12.9 |
% |
|||
| Operating Expenses |
|
9,368 |
|
|
9,034 |
|
|
334 |
|
3.7 |
% |
|||
| Tax |
|
966 |
|
|
907 |
|
|
59 |
|
6.5 |
% |
|||
| Net Income | $ |
2,090 |
|
$ |
2,060 |
|
$ |
30 |
|
1.4 |
% |
|||
| STATEMENT OF OPERATIONS | Twelve Months Ended | |||||||||||||
| Income Statement | 12/31/2024 |
12/31/2023 |
Y-O-Y Change | |||||||||||
| Interest Income | $ |
81,397 |
|
$ |
66,757 |
|
$ |
14,640 |
|
21.9 |
% |
|||
| Interest Expense |
|
45,293 |
|
|
31,991 |
|
|
13,303 |
|
41.6 |
% |
|||
| Net Interest Income |
|
36,103 |
|
|
34,766 |
|
|
1,337 |
|
3.8 |
% |
|||
| Provision for Credit Losses |
|
1,600 |
|
|
500 |
|
|
1,100 |
|
220.0 |
% |
|||
| Other Income |
|
12,249 |
|
|
12,817 |
|
|
(568 |
) |
-4.4 |
% |
|||
| Operating Expenses |
|
34,684 |
|
|
30,368 |
|
|
4,316 |
|
14.2 |
% |
|||
| Tax |
|
3,634 |
|
|
4,699 |
|
|
(1,065 |
) |
-22.7 |
% |
|||
| Net Income | $ |
8,435 |
|
$ |
12,016 |
|
$ |
(3,581 |
) |
-29.8 |
% |
|||
| Ratios | 12/31/2024 |
12/31/2023 |
Y-O-Y Change |
|||||||||||
| Net Loan to Deposits |
|
94.61 |
% |
|
94.70 |
% |
|
-0.09 |
% |
|||||
| ACL/Gross Loans |
|
1.20 |
% |
|
1.27 |
% |
|
-0.07 |
% |
|||||
| NPAs/Total Assets |
|
0.66 |
% |
|
0.09 |
% |
|
0.57 |
% |
|||||
| Tier One Leverage Ratio |
|
9.37 |
% |
|
10.30 |
% |
|
-0.93 |
% |
|||||
| YTD ROAA (annualized) |
|
0.63 |
% |
|
1.03 |
% |
|
-0.40 |
% |
|||||
| YTD ROAE (annualized) |
|
6.92 |
% |
|
10.46 |
% |
|
-3.54 |
% |
|||||
| Net Interest Margin (QTD) |
|
2.92 |
% |
|
2.81 |
% |
|
0.11 |
% |
|||||
| Net Interest Margin (YTD) |
|
2.77 |
% |
|
3.03 |
% |
|
-0.26 |
% |
|||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20250124757292/en/
Jeremy Johnson
(714) 620-8888
Source: US Metro Bancorp
FAQ
What was US Metro Bancorp's (USMT) earnings per share in Q4 2024?
How much did USMT's total deposits grow in 2024?
What was USMT's loan growth percentage in 2024?
How did USMT's non-performing assets ratio change in 2024?
What was USMT's book value per share at the end of 2024?
