US Metro Bancorp Declares Interim Dividend on Common Stock

Rhea-AI Summary

US Metro Bancorp (OTCQX: USMT) has announced a cash dividend of $0.03 per share, payable on March 15, 2023 to shareholders of record as of the close on February 28, 2023. The bank operates in California, providing a range of financial services including commercial real estate and SBA loans, across its six branches. Established in 2006, US Metro Bank services clients in the Southern California area with a focus on small to medium-sized businesses.

However, the release contains warnings regarding potential risks including market fluctuations and economic conditions that may impact future performance.

Positive

• Declared a cash dividend of $0.03 per share, reflecting ongoing confidence in shareholder returns.

Negative

• Potential risks related to fluctuations in interest rates and adverse economic conditions that could affect future performance.

GARDEN GROVE, Calif.--(BUSINESS WIRE)-- US Metro Bancorp (OTCQX: USMT) declared that its Board of Directors approved a $0.03 cash dividend payable on March 15, 2023 to shareholders of record at the close of business on February 28, 2023.

About US Metro Bancorp, Inc. and its wholly-owned subsidiary US Metro Bank

US Metro Bank is a California chartered, full service commercial nonmember bank headquartered in Garden Grove, California with six branch offices in California - Garden Grove, Anaheim, Buena Park (Fullerton Branch), Koreatown/Los Angeles, Fashion District/Los Angeles, Torrance and with loan production offices in Dallas, Seattle, Inland Empire of Southern California, Northern California, Fresno and Sacramento. The Bank opened for business on September 15, 2006, and offers deposit and loan products (including commercial real estate, commercial and industrial, SBA loans and real estate mortgages), as well as related banking services to its targeted client base of executives, professionals, and small to medium-sized businesses, generally in the Southern California area.

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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230313005838/en/

Dong Il Kim

(714) 620-8888

Source: US Metro Bancorp

FAQ

What is the dividend amount declared by US Metro Bancorp for March 2023?

US Metro Bancorp declared a dividend of $0.03 per share.

When will the cash dividend for US Metro Bancorp be paid?

The cash dividend will be paid on March 15, 2023.

What is the record date for the US Metro Bancorp dividend payment?

The record date for the dividend payment is February 28, 2023.

What risks did US Metro Bancorp highlight in their press release?

US Metro Bancorp highlighted risks including fluctuations in market interest rates and adverse economic changes.