US Metro Bancorp Announces First Quarter 2020 Financial Results 47% Annual Increase in Loans 32% Annual Increase in Deposits 10% Annual Increase in Earnings

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GARDEN GROVE, Calif. -(BUSINESS WIRE)-  US Metro Bancorp (OTC Pink:  USMT), Mr. Dong Il Kim, President and CEO, announced US Metro Bancorp and US Metro Bank’s financial results for the first quarter 2020, reporting year over year loan growth of $133.3 million or 47%. Deposits grew $124.9 million or 32% over the first quarter last year. The opening of the Bank’s Torrance Branch in December 2019 accounted for $40.8 million of the total deposit growth. The 47% loan growth from a year earlier helped the Net Interest Income increase $0.9 million or 23% for the first quarter compared to the first quarter a year earlier. SBA premium income recorded a decrease from the same first quarter of last year decreasing to $465 thousand from $572 thousand recorded in the first quarter of 2019. Net income of $1,025,000 for the three months ending March 31, 2020 compares to $931,000 reported for the same three months in 2019, a year over year increase of $94 thousand or 10%. Earnings per share (EPS) of $0.06 per share on 16,230,000 shares for the quarter ended March 31, 2020 compares to EPS of $0.06 per share on 16,230,000 shares for the same time period in 2019.

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