US Metro Bancorp Announces Second Quarter 2026 Results

Business Wire

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 $3.5 million in the second quarter of 2026, compared to $3.3 million in the first quarter of 2026. For the six months ending June 30, 2026, the consolidated Bancorp earned $6.8 million compared to $5.0 million for the six months ending June 30, 2025. On a year-to-date basis, Bancorp recorded an annualized return on average assets (“ROAA”) of 0.85% and an annualized return on average equity (“ROAE”) of 11.84%. With 16,791,500 shares outstanding, earnings per share (“EPS”) for the second quarter of 2026 was $0.21 compared to $0.20 in the first quarter of 2026. For the six months ending June 30, 2026, EPS was $0.41 compared to $0.31 for the six months ending June 30, 2025. On June 30, 2026, Bancorp’s book value per share was $7.01 compared to $6.43 a year earlier.

The Bank recorded on a year-to-date basis net interest income of $25.7 million compared to $21.1 million in the same period a year earlier. Net income of $8.0 million for the six months ending June 30, 2026, compared to $5.8 million reported for the same six months in 2025, a year over year increase of $2.2 million.

The Bank reported total assets of $1.641 billion as of June 30, 2026, representing a 13.0% increase compared to the reporting period ending June 30, 2025, and year over year loan growth of $142 million or 11.5%. Total Bank deposits ended the second quarter of 2026 at $1.438 billion, a $157 million or 12.2% increase from $1.281 billion on June 30, 2025.

Non-performing assets as a percentage of total assets of 1.35% on June 30, 2026, compared to 1.11% as of June 30, 2025. The Bank had $3.4 million Other Real Estate Owned (OREO) on June 30, 2026. Allowance for credit losses (ACL) to gross loans was 1.27% as of June 30, 2026, compared to 1.20% as of June 30, 2025. The Bank recorded a $4.0 million provision for credit losses for the six months ending June 30, 2026, compared to $0.9 million recorded for the six months ending June 30, 2025.

“The Bank had a good first half of the year with profitability and improved ROE, NIM, and efficiency performance metrics. The Bank had solid growth in both loans and deposits while continuing to add to the ACL provision. The Bank is focused on finishing the year strong in the second half,” 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
	6/30/2026			3/31/2026			% Change			6/30/2025			% Change
Net Income	$	3,460		$	3,335			3.74	%	$	2,453			41.06	%
Net Income Per Share (Basic)	$	0.21		$	0.20			3.52	%	$	0.15			38.92	%
ROAA (Annualized)		0.86	%		0.86	%		–			0.68	%		0.18	%
ROAE (Annualized)		11.90	%		11.77	%		0.13	%		9.34	%		2.56	%
Efficiency Ratio		61.45	%		65.21	%		-3.76	%		69.54	%		-8.09	%
Assets	$	1,643,388		$	1,565,399			4.98	%	$	1,453,986			13.03	%
Gross Loans	$	1,371,561		$	1,302,962			5.26	%	$	1,229,567			11.55	%
Deposits	$	1,436,212		$	1,361,612			5.48	%	$	1,278,896			12.30	%
Non-Interest Bearing Deposits	$	261,851		$	239,729			9.23	%	$	224,561			16.61	%
Common Equity	$	117,728		$	114,866			2.49	%	$	106,191			10.86	%
Ending Common Shares O/S		16,791,500			16,738,500			53,000			16,520,000			271,500
Book Value Per Common Shares	$	7.01		$	6.86		$	0.15		$	6.43		$	0.58

At or for the Six Months Ended
	6/30/2026			6/30/2025			Y-O-Y Change
Net Income	$	6,796		$	5,040		$	1,756			34.84	%
Net Income Per Share (Basic)	$	0.41		$	0.31		$	0.10			33.28	%
ROAA (Annualized)		0.85	%		0.70	%		0.15	%		21.19	%
ROAE (Annualized)		11.84	%		9.59	%		2.25	%		23.48	%
Efficiency Ratio		63.29	%		69.19	%		-5.90	%		-8.53	%
Assets	$	1,643,388		$	1,453,986		$	189,402			13.03	%
Gross Loans (Excl. Loans HFS)	$	1,332,378		$	1,204,529		$	127,849			10.61	%
Deposits	$	1,436,212		$	1,278,896		$	157,316			12.30	%
Non-Interest Bearing Deposits	$	261,851		$	224,561		$	37,290			16.61	%
Common Equity	$	117,728		$	106,191		$	11,537			10.86	%
Ending Common Shares O/S		16,791,500			16,520,000			271,500			1.64	%
Book Value Per Common Shares	$	7.01		$	6.43		$	0.58			9.07	%

US METRO BANK (only)
FINANCIAL HIGHLIGHTS (unaudited)
BALANCE SHEET
(All amounts in thousands except per share information)
Assets	6/30/2026			6/30/2025			Y-O-Y Change
Cash and Due From Bank	$	14,816		$	12,663		$	2,153		17.0	%
Investments and Fed Funds Sold	$	230,232		$	190,392			39,840		20.9	%
Gross Loans		1,371,561			1,229,567			141,994		11.5	%
Allowance for Credit Losses		(17,382	)		(14,763	)		(2,619	)	17.7	%
Other Assets		41,676			34,522			7,154		20.7	%
Total Assets	$	1,640,903		$	1,452,381		$	188,522		13.0	%

Liabilities and Capital	6/30/2026			6/30/2025			Y-O-Y Change
Deposits	$	1,437,734		$	1,281,111		$	156,623		12.2	%
Borrowings		25,000			20,000			5,000		25.0	%
Other Liabilities		16,781			15,886			895		5.6	%
Equity		161,388			135,384			26,004		19.2	%
Total Liabilities and Capital	$	1,640,903		$	1,452,381		$	188,522		13.0	%

STATEMENT OF OPERATIONS	Three Months Ended
Income Statement	6/30/2026			3/31/2026			Q-O-Q Change
Interest Income	$	23,975		$	22,256		$	1,719		7.7	%
Interest Expense		10,468			10,061			406		4.0	%
Net Interest Income		13,507			12,195			1,312		10.8	%
Provision for Credit Losses		2,400			1,600			800		50.0	%
Other Income		6,263			6,779			(516	)	-7.6	%
Operating Expenses		11,613			11,790			(176	)	-1.5	%
Tax		1,700			1,636			65		3.9	%
Net Income	$	4,057		$	3,949		$	108		2.7	%

STATEMENT OF OPERATIONS	Six Months Ended
Income Statement	6/30/2026			6/30/2025			Y-O-Y Change
Interest Income	$	46,231		$	41,972		$	4,259		10.1	%
Interest Expense		20,529			20,826			(297	)	-1.4	%
Net Interest Income		25,702			21,146			4,556		21.5	%
Provision for Credit Losses		4,000			900			3,100		344.4	%
Other Income		13,043			5,992			7,051		117.7	%
Operating Expenses		23,403			17,915			5,488		30.6	%
Tax		3,336			2,475			861		34.8	%
Net Income	$	8,006		$	5,848		$	2,158		36.9	%

Ratios	6/30/2026			6/30/2025			Y-O-Y Change
Net Loan to Deposits		94.19	%		94.82	%		-0.64	%
ACL/Gross Loans		1.27	%		1.20	%		0.07	%
NPAs/Total Assets		1.35	%		1.11	%		0.25	%
Tier One Leverage Ratio		10.42	%		9.81	%		0.61	%
YTD ROAA (annualized)		1.03	%		0.84	%		0.20	%
YTD ROAE (annualized)		10.06	%		9.05	%		1.03	%
Net Interest Margin (QTD)		3.47	%		3.17	%		0.30	%
Net Interest Margin (YTD)		3.38	%		3.09	%		0.29	%