USCB Posts $28 Million in Nine-Month Earnings, Exceeding Every Full-Year Result Since 2021
Key Facts
USCB Financial Holdings reported on October 22 that net income reached $9.5 million in the third quarter of 2026, or $0.51 per diluted share, compared with $8.9 million and $0.45 per share in the same period of 2025. Chief Executive Luis de la Aguilera said net income for the first nine months reached $28.0 million, exceeding the full-year net income of every year since the company’s initial public offering in 2021. He described third-quarter income as the highest quarterly result since the IPO. The results put growth in profitability alongside mixed indicators for funding and asset quality. The company released the results ahead of a call scheduled for the following day.
Net interest income before the provision for credit losses was the main source of improvement, rising to $24.3 million in the third quarter from $21.3 million a year earlier. The increase amounted to $3.0 million, or 14.2% year over year. By contrast, noninterest income fell 27.5% to $2.7 million from $3.7 million in the third quarter of 2025. Noninterest expense rose 12.9% to $14.7 million, compared with $13.0 million a year earlier. These figures show wider interest income alongside a decline in the other income source and higher operating expenses.
The company had $3.0 billion in assets on September 30, 2026, up $243.5 million, or 8.8%, from $2.8 billion on the same date a year earlier. Loans held for investment reached $2.3 billion, an increase of $191.1 million, or 9.0%, from $2.1 billion a year earlier. But total deposits at the end of September were $2.4 billion, down $9.3 million, or 0.4%, from $2.5 billion at the end of September 2025. On a quarterly average basis, deposits were $2.5 billion, up $22.3 million from the second quarter, with annualized growth of 3.6%, according to management. The difference between the average and period-end balance highlights variation in deposit flows during the quarter.
Nonperforming loans rose to $7.7 million on September 30, equivalent to 0.33% of total loans, compared with $1.3 million and 0.06% in the third quarter of 2025. This came as loans held for investment increased year over year to $2.3 billion. The company reported assets of $3.0 billion on the same date, providing context for the size of its balance sheet at quarter-end. The figures in the disclosure did not provide a detailed explanation for the rise in nonperforming loans. The change remains part of a quarterly picture that combined growth in loans and assets with an increase in troubled loans.
On deposits, management said the company hired a team of four deposit-focused bankers in October from a national competitor. Before moving, the team managed a community with more than $700 million in deposits; those were deposits it had previously managed, not deposits the company said had transferred to it. The bankers will work from the Hollywood and Aventura offices as the company seeks to strengthen its presence in Broward County and South Florida. Management said deposit growth, loan portfolio diversification and expansion of noninterest income sources are strategic priorities. It also said the new deposits could allow the company to repay higher-cost wholesale funding in the fourth quarter.
The company said its board declared a quarterly cash dividend of $0.125 per share on October 19, payable on December 4 to shareholders of record on November 16. The company had scheduled its third-quarter results call for October 23 at 11:00 a.m. Eastern time, after releasing the results on October 22. In trading on October 23, the company’s shares closed at $19.99, compared with a close of $22.75 in the previous session. Fourth-quarter attention is focused on whether the new deposits can support funding and reduce reliance on higher-cost funding, as management outlined.