Garden Grove, California: April 27, 2023: US Metro Bancorp (OTCQX: USMT):
Mr. Dong Il Kim, President and CEO, announced US Metro Bancorp and US Metro Bank’s financial results for the first quarter2023. US Metro Bancorp (“Bancorp”) is a bank holding company (BHC), with a single subsidiary, US Metro Bank. On a consolidated basis the Bancorp earned $3,165,000 in the first quarter of 2023, compared to $4,871,000 in the fourth quarter of 2022. For the three months ending March 31, 2023, the consolidated Bancorp earned $3,165,000 compared to $3,680,000 for the three months ending March 31, 2022. On a year-to-date basis the Bancorp recorded an annualized return on average assets (“ROAA”) of 1.19% and an annualized return on average equity (“ROAE”) of 12.08%. With 16,390,000 shares outstanding, earnings per share (“EPS”) for the first quarter 2023 was $0.19 compared to $0.30 in the fourth quarter 2022. For the three months ended March 31, 2023, EPS was $0.19 compared to $0.23 for the three months ending March 31, 2022. On March 31, 2023, the Bancorp’s Book Value was $5.41 compared to $4.77 per share a year earlier.