US Metro Bancorp Announces Third Quarter 2026 Results
GARDEN GROVE, Calif., October 23, 2026--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 $3.1 million in the third quarter of 2026, compared to $3.5 million in the second quarter of 2026. For the nine months ending September 30, 2026, the consolidated Bancorp earned $9.9 million compared to $8.0 million for the nine months ending September 30, 2025. On a year-to-date basis, Bancorp recorded an annualized return on average assets ("ROAA") of 0.80% and an annualized return on average equity ("ROAE") of 11.32%. With 16,791,500 shares outstanding, earnings per share ("EPS") for the third quarter of 2026 was $0.19 compared to $0.21 in the second quarter of 2026. For the nine months ending September 30, 2026, EPS was $0.59 compared to $0.48 for the nine months ending September 30, 2025. On September 30, 2026, Bancorp's book value per share was $7.06 compared to $6.62 a year earlier.
The Bank recorded on a year-to-date basis net interest income of $39.9 million compared to $33.1 million in the same period a year earlier. Net income of $11.7 million for the nine months ending September 30, 2026, compared to $9.2 million reported for the same nine months in 2025, a year over year increase of $2.55 million.
The Bank reported total assets of $1.730 billion as of September 30, 2026, representing a 10.2% increase compared to the reporting period ending September 30, 2025, and year over year loan growth of $157 million or 12.4%. Total Bank deposits ended the third quarter of 2026 at $1.527 billion, a $143 million or 10.3% increase from $1.384 billion on September 30, 2025.
Non-performing assets as a percentage of total assets of 1.39% on September 30, 2026, compared to 1.46% as of September 30, 2025. The Bank had $2.3 million Other Real Estate Owned (OREO) on September 30, 2026. Allowance for credit losses (ACL) to gross loans was 1.25% as of September 30, 2026, compared to 1.19% as of September 30, 2025. The Bank recorded a $7.6 million provision for credit losses, for the nine months ending September 30, 2026, compared to $2.2 million recorded for the nine months ending September 30, 2025.
"Our third quarter results reflect the continued strength of our core franchise. Year-to-date earnings of $9.9 million are up 24% over the same period last year, and we delivered double-digit year-over-year growth in loans, deposits, and total assets. While the third quarter earnings were modestly below the second quarter, we continued to prudently build our allowance for credit losses, and we are encouraged by the improvement in non-performing assets compared to a year ago. With book value per share rising to $7.06, we remain focused on finishing 2026 strong and building long-term value for our shareholders," said CEO Dong Il Kim.