Net interest income reached $22.0 million in 2026Q1, yet the efficiency ratio spiked to 52.3%, indicating that rising costs are outpacing revenue gains.
| Net Interest Income | 86.56M | 83.63M | 69.94M | 58.57M | 63.66M | 52.5M | 43.6M | 0 |
| NII Growth % | 69.05% | 19.58% | 19.41% | -8% | 21.27% | 20.41% | - | - |
| Net Interest Margin % | 3.04% | 2.99% | 2.71% | 2.5% | 3.05% | 2.83% | 2.9% | 0% |
| Interest Income | 148.54M | 145.49M | 131.23M | 101.02M | 71.1M | 56.72M | 52.63M | 0 |
| Interest Expense | 61.98M | 61.86M | 61.3M | 42.45M | 7.44M | 4.23M | 9.04M | 0 |
| Loan Loss Provision | -13.05M | 1.82M | 3.16M | 2.37M | 2.5M | -160K | 3.25M | 0 |
| Non-Interest Income | -7.96M | 6.59M | 12.74M | 7.4M | 5.07M | 7.21M | 6.1M | 44.75M |
| Non-Interest Income % | -5.66% | 4.33% | 8.85% | 6.83% | 6.65% | 11.28% | 10.38% | 100% |
| Total Revenue | 140.58M | 152.08M | 143.97M | 108.42M | 76.17M | 63.94M | 58.73M | 44.75M |
| Revenue Growth % | -19.75% | 5.63% | 32.79% | 42.35% | 19.13% | 8.87% | 31.25% | - |
| Non-Interest Expense | 54.15M | 52.49M | 47.04M | 41.81M | 39.15M | 32.19M | 33.04M | 30.98M |
| Efficiency Ratio | 38.52% | 34.51% | 32.67% | 38.56% | 51.4% | 50.35% | 56.25% | 69.24% |
| Operating Income | 37.5M | 35.92M | 32.48M | 21.8M | 27.09M | 27.68M | 13.41M | 14.1M |
| Operating Margin % | 26.68% | 23.62% | 22.56% | 20.1% | 35.56% | 43.29% | 22.83% | 31.52% |
| Operating Income Growth % | - | 10.59% | 49% | -19.53% | -2.14% | 106.42% | -4.93% | - |
| Pretax Income | 37.5M | 35.92M | 32.48M | 21.8M | 27.09M | 27.68M | 13.41M | 13.77M |
| Pretax Margin % | 26.68% | 23.62% | 22.56% | 20.1% | 35.56% | 43.29% | 22.83% | 30.76% |
| Income Tax | 9.71M | 9.82M | 7.8M | 5.25M | 6.94M | 6.6M | 2.59M | 3.38M |
| Effective Tax Rate % | 25.89% | 27.33% | 24.03% | 24.09% | 25.64% | 23.85% | 19.3% | 24.52% |
| Net Income | 27.79M | 26.1M | 24.67M | 16.55M | 20.14M | 21.08M | 10.82M | 10.39M |
| Net Margin % | 19.77% | 17.16% | 17.14% | 15.26% | 26.44% | 32.97% | 18.42% | 23.22% |
| Net Income Growth % | 0.26% | 5.78% | 49.13% | -17.85% | -4.44% | 94.8% | 4.13% | - |
| Net Income (Continuing) | 27.79M | 26.1M | 24.67M | 16.55M | 20.14M | 21.08M | 10.82M | 10.39M |
| EPS (Diluted) | 1.51 | 1.30 | 1.24 | 0.84 | 1.00 | -6.72 | 0.41 | 1.03 |
| EPS Growth % | 3.62% | 4.84% | 47.62% | -16% | 114.88% | -1739.02% | -60.19% | - |
| EPS (Basic) | - | 1.34 | 1.25 | 0.84 | 1.01 | -6.72 | 0.41 | 1.03 |
| Diluted Shares Outstanding | 18.45M | 18.35M | 19.83M | 19.69M | 20.18M | 19.57M | 19.38M | 10.06M |
CRE concentration and provisioning
According to quarterly financial data, USCB's net interest income reached $22.0 million in 2026Q1, reflecting a 15.3% year-over-year growth rate, yet the trajectory appears increasingly sensitive to the rising cost of deposits within the highly competitive South Florida commercial banking landscape.
While NII has shown consistent expansion over the last ten quarters, the pace of growth has moderated from the peak levels observed in 2024. Investors should monitor whether the bank can maintain this momentum as deposit betas likely adjust to the current interest rate environment, potentially squeezing the net interest spread.
Based on reported figures, the net interest margin has remained stagnant at 0.8% for the most recent quarter, suggesting that the bank is struggling to expand its yield spread despite the broader interest rate environment that typically favors regional lenders with commercial portfolios.
The lack of meaningful NIM expansion indicates that funding costs are likely rising in lockstep with asset yields. This compression warrants further investigation into the bank's deposit mix, as a reliance on higher-cost time deposits may be offsetting the benefits of repricing the loan book.
As reported in financial statements, USCB's efficiency ratio deteriorated to 52.3% in 2026Q1, a significant departure from the 31-34% range maintained throughout 2024 and 2025, which may indicate rising operational costs or a lack of scalability in the current revenue environment.
The sharp spike in the efficiency ratio suggests that non-interest expenses are outpacing revenue generation, which could be a precursor to margin pressure. Analysts should evaluate whether this is a temporary investment in infrastructure or a structural challenge in maintaining operating leverage during periods of slower revenue growth.
Based on the provided income statement, the bank recorded a significant provision for credit losses of $14.2 million in 2026Q1, a stark reversal from the zero-provision environment observed in late 2025, which suggests a potential shift in management's assessment of loan portfolio risk.
This substantial provision expense directly impacted net income and highlights the inherent volatility of the CECL accounting framework. Investors should monitor whether this increase reflects specific credit deterioration within the CRE portfolio or a broader, proactive adjustment to macroeconomic forecasts for the South Florida region.
Financial disclosures reveal that non-interest income turned negative at $10.8 million in 2026Q1, representing a sharp decline from the positive contributions seen in previous quarters, which raises concerns regarding the sustainability of the bank's non-interest revenue streams.
The volatility in fee income, which shifted from positive to negative, suggests that the bank's non-interest revenue is not a reliable offset to interest income fluctuations. This instability warrants further investigation into the underlying drivers of these losses, as they may indicate underlying issues with transaction-based services or hedging activities.
Quick answers to the most common questions about buying USCB stock.
USCB Financial Holdings, Inc. (USCB) is profitable, generating $26.1M in net income for the fiscal year ending 2025 with a net profit margin of 17.2%.
USCB Financial Holdings, Inc. (USCB) reported an operating income of $35.9M, resulting in an operating profit margin of 23.6%. This margin reflects the operational efficiency of the business before interest and taxes.
USCB Financial Holdings, Inc. (USCB) generated $88.4M in gross profit for the year, representing a gross profit margin of 58.1%. This demonstrates the company's core pricing power and production efficiency.