USCB - Earnings call 3 2022 | USCB Financial Holdings, Inc.

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Operator

Good day, and welcome to the Third Quarter 2022 USCB Financial Holdings, Inc. Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Luis de la Aguilera, President and CEO. Please go ahead.

Luis de la Aguilera

you us thank XXXX our and call. earnings morning, for for joining third-quarter Good review highlights Page Pazos, our CFO, will selected performance. To I Today, QX comment will and of bank's on Credit start, overview I Rob detailed along Chief Officer, an Ben on providing slides the third-quarter X. Anderson; our with an with loan and annualized The Holdings another delivered double-digit USCB margin. quarter growth strong expanding and Financial interest of solid results net deposit

strong as to capital pristine are credit remained credit from our The by book per prior X.XX. Again, there stable, Our bank's primarily allowance at liquidity and there $X.XX value and the quarter, supported share no are AOCI. metrics trends. no nonperforming for -- at loss is ratio down due tangible loans loss classified with $X.XX,

quarter quarter past to September compared XXXX. ended the to ended of credit quarter shortly. Net XX, September have to XXXX, XX, losses of September XX.X% increased margin the X.XX% to of rising We quarter to to average $XX.X ratio or environment. XX, the for offer hold ended from quarter $XX.X third of in XX securities third a for million from the $X.X an Net interest the XXXX, compared to XX, quarter value ended comments was for ended of was XXXX. assets the for income classified sale XXXX, X.XX% for will quarter rate points third by XXXX. X.XX% available to for Annualized September for XX.XX basis return efficiency increase million quarter interest protect the third X.XX% compared Rob before compared book quarter XXXX. on for provision tangible the for the maturity XXXX, The bank's million XX.XX% was additional

banked demand XX, namely September to XX, Total decrease losses $XXX.X at includes was comment an X at at and increase September equity representing of representing of representing at compared total XX, September September were unrealized of briefly or million XXXX. equity million million XX% at were XX, of $X.X XXXX, XXXX. increase XX.X% from September XXXX. billion loans $XXX.X KPIs, stockholders' on and the the million unrealized from quarter XX.X% or XX, continued these $XXX.X deposits or in increased PPP bank's to compared to of over increased growth double-digit million XX.X% bank's loans, by deposit XX% third As trends loans, quarter key XX.X% to the loan to details production the XX.X% showing prior X comprised end, successful of of teams I To the are years. have annualized noted, efforts X previously or XXXX. Slide Total accounts. historical compared million develop $XXX.X third the this $XXX.X deposit compared both the $XXX.X of graphically security stockholders' Similarly, or September XXXX. equity. our average of performance XX, of million X September trends of post billion the relationships. past excluding fully XXXX, XXXX, indicators deposits $XX.X will an and validating deposits XX, quarter stockholders' million gains total loans, growth. Average total $X.X to $X.X security million or deposits, $XX.X XXXX, Total September Total XX, XXXX, from a

and throughout loan million X their track the no modifications totaling USCB all storm or XX landfall storm's southwest To Collier The the and path, personally XX damage On X. have identified XX the new and the trajectory Florida, Slide Let's reported Lee, Charlotte, identified Ian's to properties that Prior identified I yacht After observing we the coast and forecasted progress. the Hurricane no assets within path credit department our XX storm counties to across impacted its on $XXX visited under of counties loans financed. on more those of its yachts passed, September our move the been program. where date, counties were state assets condition, requested. lending negligible identified financed October were including financed. most XX, to traced

We assess continue in and contact any to with customers. risk, we're direct credit potential most importantly, our

surge, the I for thousands of report coast, to the between of Naples strip state's a containing from XX-mile by cost Coast firsthand West As $XXX storm, critical an due estimates all and condominium buildings caused I to The is from to drove damage economy, range way West damage the the inland beach with identified $XX up units. the the area storm Cape rebuilding Coral, primarily which billion. Coast the billion along the concentrated highly preliminary impacted

turn a things and to Association support over now. partner financing are business you Banking vertical is key I'll our Coast. Rob, U.S. to Century West management at offering Bank, actively companies that the we cover area

Robert Anderson

morning, everyone. looking our statements and Bank and U.S. many quarter. great Luis, good you, In Thank Okay. by another at Century measures, financial had

the few next getting pages into Let before couple specific items on of highlight me a details.

put securities period securities to very and book securities $XXX total, low-interest XX% Like securities, billion balances from books quarter, have to $XX in the prior the today, most or were rising banks moved on HTM of environment. In million is quarter. at up pandemic First, the $X.XXX At we which quarter held had the from the we the $X of and up rates. total value $XX end, and quarter. million deposits in another tangible assets million $X.XXX million at to end. in billion, of portfolio maturity protect we prior during these are Loan and rate were $XXX a were that's million the industry billion, quarter for $X.XXX

a And $XXX in million on purposes, quarter. million XX.X% AOCI. $XXX in losses million securities unrealized mark-to-market or losses. comparison HTM intention second P&L. mark have unrealized $X.X equity had now securities bank although treatment. can the the be Net at a due total them $XX.X this from to rates all interest in to securities a significant Taking compared our impact in significant further in And so million anticipated we losses, the this have of to As or The negative increased for look $X.X and move has these taken rise, the the quarter annualized due quarter income on noted the to sharp accounting well slide, and to fast with the no year. The selling portfolio includes increases the QX. marks equity, to interest which as of million XX.X% $XXX at negative prior million later seen moved down avoid million might prior rate compared $XX.X to

XX.X% If compared from the excluded which our grew the you to quarter. XX.X% prior up quarter is income $X.X fees, net impact think I million, of an prior year, was data slightly prior the to interesting point. the interest income PPP compared Noninterest and

$X.XX comparisons and throughout as up due to quarter. Net And We more reminder, the for to the operating on multitude a provision $X.X $XXX,XXX a difficult our capital items quarter expenses bit. that the of be amount settlement, with relevant year to income loan million in expenses prior $X.X this EPS million the clean I'll speak a we for one-time of $X.X XXXX. share. flagged you growth prior or to not contained stack million previously. up a was we I'll loan booked $XX.X remind would year's in the which did million moved and

key So a our let's take at look performance indicators.

coverage loss for terms reserve small and one of soundness, our charge-off strong. metrics XX,XXX, our remain In to slightly credit ratio loan X.XX%. We had increased

the on In the XX.X%. return terms assets average return was equity was and of profitability, on X.XX%, average

mark, per And the value down NIM XX which $X.XX $X.XX I With Our the yields. let's our mark per slightly would tangible share and value came share earlier. our X.XX%, quarter to share $XX.XX. per our basis per this expanded efficiency portfolio. have at of share, book prior improved been overview, our book and reflective points loan ratio take referenced loan to book Last, a tangible XX.XX%. is that securities to of from negative our look on absent

loans our out PPP First, our core separated we loans. from

you each piece can is component So working. see how

PPP the to compared of the or prior prior total to loan compared that team. Loan quarter, prior on million million the compared the loans, due quarter from to 'XX. subsequently, due rate $XXX.X the $XXX.X XX to by and While a the pricing XX are and, 'XX higher average loans, interest basis coupon points year. loan to disciplined primarily Increases of environment paid purchased points yacht increased loans the in basis we annualized prior 'XX. in quarter that compared process, fees with premium off Loan third quarter basis amortization done the decreased are the the forgiveness XX% increased nearly to points or XX.X% and PPP excluding XX and

be PPP of Additionally, noted as well. should a in decrease $XXX,XXX fees loan

you loan call, While line to the growth in X comments on quarter's provided was modeling our we for the last I'll purposes. with provide guidance

our is balance the if an quarter, fourth billion. fourth the just you held X.XX% third steady average quarter the throughout of ending $X.XXX billion we'd First, the And above $X.XXX average the in quarter. for spot of of $X.XXX quarterly have loan billion growth

to economic more a becoming likely as fears continue we slow to enter discipline. develop, rates rise, that recession as continue pricing to and an growth will loan is or continue we Second downturn of XXXX maintain

find to but for ourselves low in of our of 'XX. teens, to guidance in. we the We could back fall QX, higher guidance things back will year still even side will we gravitate given or we the that range XXXX, full For of conditions single-digit on be our the believe high to macroeconomic previous high

book. on profitable for more it to Luis turn I'd With business to book not Our loan details growth's provide is that, few to our to a goal like sake. business, necessarily back its

Luis de la Aguilera

loan generally loan the by periods landfall. The QX the XXXX graph insurance has made loan QX fundings. in $XXX abated a Hurricane payoffs before high low production on with X rising upward been Year-to-date, X on same over with rates. September slowed the with XXXX production QX insurance past moratorium clearly saw Ian on $XXX QX the of fundings Page million $XXX between days issuance on X of new the the and negatively -- as policies in trended loan Conversely, refinancing million. downward point fundings has in loan steadily new impacted trend for new XXXX. was have a posted shows loan an and million growth quarters, bank's

On $XX we remain delayed on quarter. average the result, a quarter fourth and the was new X.XX%. budget forecast September the exceeds loan XXXX. million, October production to $XXX active scheduled in for and loan third million basis, loans As presently to were rolled closings over on go-forward The pipeline a coupon in

million an Rob? scheduled for of are XXXX, and approved, of $XX having new As X, X.XX. in closing committed coupon have been October loans average

Robert Anderson

we and quarter, Thank had unrealized Okay. the only P Triple $XXX,XXX you, fees were remaining. XX,XXX Lou. of for fees

We that's from million our PPP books at of loans end, have quarter the remaining $XX.X prior million on $X.X from and down quarter.

our to 'XX. prior to increased third on or compared deposits grow quarter the Moving compared to continue $XXX.X and of Deposits million XX.X% Average raising the rates quarter. through XX.X% or modestly despite the annualized $XX.X deposits. to million quarter

While expectations. our been our XX has rate deposit movement fourth costs XXXX the has moved since X.X%, points, of for beta our deposit up which quarter basis the outperformed

XXXX, deposit expecting the of we taken beta depending remainder actions the For Fed. on by higher a the are

of could We bills money have U.S. money more us it X%. competitors' match on short-term put those treasury and intention accounts they clients telling we their requests or and Clearly, to savings CDs clients no get seeing rates. market promotional are from in rates matching and take

beta As call, entire vary to should modeling rate rate cycle. our XX% purposes, that close mentioned we throughout look will Quarterly hike believe XX% be but cycle. to throughout our this may beta some, last the for figures deposit the at on we

range we purposes. are and modeling outperform we this this for have, number to is hopeful good While far, so

base our that are to make the of the this brings the of is value the in accounts, DDA deposit in the our overall accounts bank much, enterprise demonstrating up with of deposits of relationship-oriented, up Another Overall, point nature, gone is enterprise rates clients. U.S. to moving on Century slide many With rates. our so are rising primary of while DDA is franchise. tremendously. value even base XX.X% have value we and sticky granular our for deposit Bank

prior margin. Net from interest compared So million points let's to $X.X or Net quarter XX.X% XX.X% is X.XX% third or and the third XX million basis compared interest quarter prior points annualized the quarter this of impacted up up the the $X.X of XXXX. see demonstrating XX of asset-sensitive XXXX, increased income quarter an the margin and to from balance sheet. how basis

basis NIM our basis excluding prior PPP year. up loans, you from If points been the XX at X.XX, from XX look impact our and up would the of have quarter margin, the points prior

deposit yield are page. between by side spread lower to an the cost continues chart in also of improvement the the earning left-hand our seeing widen, asset demonstrated our loan mix, on we and the While

Let's impacting and sheet you see how all in next is balance the what slide. our on quarters coming can this expect the

improvement experienced for Century an and NIM due rates, to well we've already believe this our in we interest While cycle. rate net to continue positioned Bank is unprecedented U.S. higher income

sheet. quarter with and Again, longer-term have have assumptions balance our securities, more neutral we models is a are lower year sensitive and on which Having last than assets short-term balance for sheet less X is asset this year will our sheet less and asset-sensitive done as said quarter loaded slightly have reprice our X, are balance cash, than First, means this, our loans. static these faster for liabilities.

outperformed lower-than-expected have assumptions, modeling actual a by beta. as Our results demonstrated our deposit

Over we beginning be the to XX% XX% actual net faster. aligned the the expect rate, rate. the while a a is reprice are more as of portfolio our deposits with remaining is run, fixed income variable interest Furthermore, closely to longer model loan

against provide and variable loans to indexed rate rates, the and know, variable As LIBOR. protection prime, CMT, rising are loans rate you interest

reprice In a X repricing rate loans And the have with bank of million modeling, above XX% the within coupon of X% the average reprice next to terms future months increases. loans with $XXX we rate will of these X.X%. repricing, loans according alone, rate year. could following variable and In our weighted hybrid the of

$XXX are may higher important reprice than note coupons rates. of of is that it higher these will the have of already prime the to benefit that While seem million to XX% loans expected, tied and experienced

to deploy loan NIM scenarios flows income. impact higher as we yields. combined economic cash to NIM expect securities interest our with 'XX our into portfolio income All into 'XX stable the challenging. net these lower at the interest for continue the new mix relates rest and and portfolio net about of it high for liquidity hikes positive our remain As our short-term uncertainty much items and are conditions forecasting of The to yield the portfolio, our and we production investment to

to For a the in remainder of I XXXX, levels. NIM you increase would modest current the guide from our

to extended expect period the an potentially NIM income. deposit to that, compressed for from in as of noninterest move will XXXX, depend to and costs with disciplined live slow-walk upon be up loan For quarter. that's we This our million, time, the inverted we would flat ability and our Total was in year. remain curve yield pricing. let's With our an flat on largely slightly prior noninterest $X.X to income later

$XXX,XXX some up fees was in a decreased individual year. at service line securities for X.X% slightly quarter, to compared Looking items, but We sold the loss. prior

However, embedded a we million for an by line. in amount $XX the offset that other had loss that selling FHLB gain. similar offsetting gain is advances The income of

market-to-market our our the sheet not can of we million and which balance had origination undergo in on FHLB we for loan $XX sales loan in remaining monetize gains advances our while needed. Last, FHLB our them, fundings in the accounting, sold embedded we note, year-to-date is securities which sitting in to some SBA $XXX,XXX to do SBA have Just line premiums, last and year. if quarter, advances

expect we continue this is XXXX. the year, much in last trend However, than year and premium this lower market to

let's So on to expenses. move

in moved $XX.X make from and technology. while key $X.X up to to quarter to line items Our we are total continue most expense million, as personnel prior base the and up flat million investments

expect and growth. to increase sales with CECL, new provide due expense fees due for the origination our increases legal Consulting is an CRE-related new efficiencies stated to expenses to CECL a in in few expense and and studies, predominantly wages salaries come. to on As which our signed The or a for ties system, will incentives years software, which we operating into we up agreement commensurate personnel last loan placement call, implement hires. onetime was

cost from taken quarter, so with XX.X% ratio, from have appears have that efficiency repeating. in point will provided worth to prior and a down the a the increase, While increase this out we is guidance that and sharp XX.XX% line is you, the we I it's

the investments focused to support our will expanding bank to continue and forward. we run sound, margin efficiency to believe While we make technologically a continue grind with to scale, to down, necessary safe, ratio flat the growth, net interest lower a going

no was million. charge-off X no loans. Moving for and $XXX on nonperforming $XX,XXX, REOs, The to losses credit CECL on allowance had asset is for track. quality. We

previously, X% makes program remain approved rate this a mentioned Capital and They our quarter. has repurchase for Looking our shares uncertainty current growth. Board the while or down total with levels. at a current January year the economy, capital. came price a as buyback the well-capitalized not levels of of shares, above in approximately XXX,XXX any And bit management shares in stock given And did the attractive, growth very outstanding. repurchase in share

Bank a out which environment. With slide it believe franchise, at Century us I are in of back and would lists balances comments. to I'll one to again franchise, U.S. of these relevant strong point especially strengths Luis thesis investment rate as highly X of for our and turn final closing this powerful some takeaways, all for underscore the here Our we that, our believe DDA our

Luis de la Aguilera

exceeding Thank The in we and momentum on our another forward budget team QX continued you, look Rob. Century has U.S. now up with XXXX wrapping forecast. quarter, delivered strong targeted

and has X national coming for our the for planned, a the quarter of and is during proven Throughout in status conservative construction rate evolution at worked greatly and rate tirelessly and increasing improve profitability. economy leverage, Over XXXX, second for consistently adopted rate exceeded in in underperforming headwinds we products on in are on booming Florida's past pandemic. the square revenue while this costs, global rates, XXXX, It lowest expenses of backdrop the economy branches managing repositioning the year X.X% footage the very XXXX. stage remains the XXXX, since industry over and is the from X time, loan bank, recession of renegotiating growth X Florida supply in branch-like existing banking setting the stores have visibility. reducing month million, nation, maximizing economy to has has a to declined fastest a model operational while has has that ever-improving projections the technology, annual improving year. Since Florida or Century inflation, domestic the and track and the of dropped as the identified. closing the which the in actively centers is delays, efficiency this talent, state's recovered uncertain an potential growing dynamic September remodeling while ahead. Still, October are plans and leases disciplined, upgrading year, are X.X% the history remains chain management U.S. a that in and $XXX and higher this deploying pipelines diversified unemployment balance of X demand focused to active, the has location XXXX, second year, and production $XXX of XX had felt the over and our gross GDP with growing recapitalization quarters. lowest product million. Our second steady, of clearly teams our new rate deposits at attracting now the business

will as experienced team on lifts We new portfolios. add significant continue bankers deposit X manage QX to to in we capitalize

system, opportunities. booking. Multiple product full will of our be and integrated This we training and the loan to provides application Florida's to new we lines and as designed late credit serving a loan into in digitized and growth. It Abrigo XXXX. from condominium deliver phase to loan, closing changer and which services by analysis approval expect C&I deposit, deposit further growing a results, mature operating will significant fee being and game quality be to be continuous complete front, diversified process market. aggregating loan association testing our technology swing consistent well the the and continue as strategy add which These On are QX

service at business banking launched deposit-rich owner-operated are local in businesses an Caribbean corresponding individuals. of a and constituents a over execution for line fast low-leverage exceeded Apollo strong finally, generator annual on and budget continues private XXXX and September both market, high-net-worth as increasing XX offering a concierge-level is XX USCB recent to years America Florida portfolio. in offering $XX $XX been deposits Apollo production attorney consistent duration fees. portfolio Our Professional services presently pace. services million. The an by banks with And turnover to balance banking on has to public a active only This million pure-play which million, scarcity Banking SBA lending bank losses, of banking group Century It this and of year months acquisition our U.S. core focused Basin. Lending, of This well Bank and a XX and undoubtedly market. has BSA KYC without and Central with average commitment of January high-quality, has $XXX of and true in and announcement Bank the positioned of the South has entrepreneurs. Global value. This

new near Over pursue term, business to or will model the product, boundaries. of value beyond sources industry, we continue

business the pogo envisioning continue that, curve, and proactively beyond the execute to identifying is operating of up profitably the plan, our soundly, while we current to ahead open possibilities plan opportunities, Q&A. let's staying while uncertainties. With Our things safely, emerging

Operator

first The Instructions] question Raymond from Michael comes [Operator Rose James. with

Michael Rose

on start to expenses. wanted Just

the forward? future rate to projected move how loan about And should slower in to expect to that quantify of that quarters there with now we we think consulting fees. just if a assets expenses below was that row You one-time understanding of average gotten as growth, that you guys amount, can remain we we average asset expense would move X%? great. the a below have ratio we as as But of forward, kind think hiring ratio about our in be just should X%, franchise efforts, the for X And investments plans earn some investment

Robert Anderson

tried getting state in couple One, of think below that getting grinding and thin. is to XX% ratio comments, XXs. maintaining comments an here. X% We've low little below my I the a efficiency in A Sure. down

I think that think continue. we -- will

We But strong sound, expenses safe, time, elevation over long some in will term, and a we're want investments from And the to keep to could time run technologically bank, hire make to the to focused support you due us continue to lifts. team and in the to to see going that. we growth. people

be assets anticipate I down the quarter around fees us loaded lower. here So would hover CRE of But our legal. in related had had to portfolio. average the project. expense we that up grind placement third of the couple ratio. The could and We consulting to could noninterest expenses on did efficiency a one-time We have right lot call also a the X% did the then CECL testing them, mark fees to slightly that I'd are We to in some, ongoing.

So that Michael. in was total, XXX,XXX, probably maybe XXX,XXX

Michael Rose

some kind and the deposits? like contextualize the was growth Just there forward? from quarter for lawyers go I things good. specialty those this verticals I some And What's growth then and of like The of and assume verticals that trying just there the impact higher deposits. a types was deposits of that those to is the you just capacity about. to the wanted to pretty beta those some of flex that? going of that talked And from deposit to

Robert Anderson

to very deposits those from capacity add Probably is Yes. I think strong would I what is our verticals. say

could they funds the a right HOA you guru's And cost little that pub where it challenging. bit, So if the margin little about to at the think as today, that the space you a space, or with think want about if on we advantage you are what pay. if the comes attorneys, think really be about

seeing someone a $XXX,XXX we business will but that in competitors' they rates. And are with another and not no increases they have lot do other and more flyer that we CD bring in from has will bank us. for requests a strong match if to We relationships, do

we that can deposits our our tell We I match it's So grow think you growth. to again, quarter. would did relationship-oriented. this loan I

loans million. Our $XX were up

$XX million. Our deposits were up

disciplined So I to expect as think there. stay comments we throughout I do on cycle. beta rate continue well. that the some increase can to the made I

hopefully, So that your answers question.

Michael Rose

And At will maybe for nonperformers for then, Are me, any some change. guys in quarters point, finally that anything -- X now. seeing row caution. a just signs no you of

higher seeing spreads you're cap rates think loans, on higher. I moving

you sort lending you of gives move areas into? forward. any of just as anything cautious concern credit any bit pause any be concern more or may that we little a on Just And generally, that sort

Benigno Pazos

This is Ben Pazos.

of We concerning as and are economy certain those state this for earlier everything. monitoring are retail. year. are review the it to We're is roll portfolio, But frankly, FDIC year next over. our but day. loans we we every or the had extremely the the watching are anything prepared We limiting here year, see extremely carefully the top a portfolio that here in is repricing scheduled are again for on we once has our been right now, strong, again, in and maturity We Board our audit such carefully year. especially pockets, going growth we do an don't And

Operator

comes question next Piper Scouten The from Sandler. Instructions] with [Operator Stephen

Stephen Scouten

that, new segments about that or into any maybe moving this environment? economic expansion in or there, specifically maybe of are thinking yacht lending I following up more that program. you Any Michael's concerns change into piggybacking just of guess that type around question verticals business guys maybe invest guess, on to the desire of or around outlook to forward? your, or off And any sort niches I then

Luis de la Aguilera

we client this We these overall the individuals, loan-to-value wealthy in personal Fort Lateral typical mind or in yacht are show weekend, there. yachts cash is underwrite the probably plan keep the XX%. loans under and that to loan-to-cost and boat underwrite to I Well, go to on are their extremely have flows, -- you

the for done now, yield year the till look the that carefully. applications So on are and has in, been all we at strong. up underwriting very, And each that extremely very all are

about over Xx. in many talking coverages, service You're debt cases,

strong. cautiously, are like and new it, to the We're very this all we moving So we but are forward vertical. indicators

a applications country. point largest and boats, motor years, in this our inwardly of lot probably the with of on lot boats cautiously tremendous view COVID of of plan having from see the traveling we you've South is seen the licensed and clients and and grow what many as state to the during country, within Florida, more being of kind the have here, second these activity a general, there here that of Clearly, a in motor relationships demand, are I coaches in looked Florida, think develop Florida. people South probably is are in And

pleased think So that years. it's different in developed, about activity. We've the with X we're X very I last verticals

them them deposit of on non-CRE. aggregation. are of are All focused X

plan is to verticals. continue developing Our these

We requiring reserve within approved Board the the requirements market. for All just They state of They the on West to year of One, have side that the are announce and the to and mentioned was give Coast, going looking of forward about reserve was focus to -- those past recently by diversity. kind from are the have a there's, lot of because, independent caused finance to new also because but view, a continue That we vertical. HOA believe, legislation would financing them have certain lot an be doing damage greater Hurricane X to this in needs. to our product HOA with passed that week, reasons. a and Florida to of is the study. That this to opportunity have to I of the and I point reserve add Ian -- a associations on associations limits. rebuild of the us has overall. clients, legislative us that. spoke introduce

ones said in then verticals, what today, and you it moving maybe you But cause the we have. And So it change is about bit? know of I'm what you across that economy? about the and certain the a might think -- I wondering that's little buyback what some would environment but thinking do the Is on to forward? about the step And true of guys no no -- focused or Or execution think new kind constructively think that a more plans forward. given how plan much certainty I maybe just you just uncertainty. to of need the buyback more potential for to moving price? around industry,

Robert Anderson

good a question. it's Yes,

that now, inverted in volatility in I now. buyback think happening act if And, economy a the a market. growth yield the the capital. curve best are and say an quickly I got use have as us want unknowns place, would our when of the really to you've course, tool we lot right opportunities for Right with of to there's we of put

but for right to put know we're capital we'd use it's volatility our there now. our in rather the to investors going support So growth to extreme our market in stock, for and that

Operator

This our concludes like over turn back conference question-and-answer for would to session. remarks. I any closing Luis to the

Luis de la Aguilera

again another team forward assured you. Thank in looking we're simply, and to ready. quarter is our solid very Well, to Be XXXX. deliver

Operator

Thank The presentation. conference has concluded. you now today's for attending

You may now disconnect.

USCB Financial (USCB) 28 Oct 222022 Q3 Earnings call transcript