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US Metro Bank Announces Third Quarter 2017 Financial Results 70% YTD INCREASE IN EARNINGS PER SHARE

Oct 25, 2017   |  News

Garden Grove, California: October 25, 2017: US Metro Bank (OTC Pink: USMT) Mr. Dong Il Kim, President and CEO, announced the bank’s financial results for the third quarter 2017, reporting net income of $822,000 for the three months ending September 30, 2017 compared to $1,000,000 reported for the same three months in 2016. In 2017 earnings are reported on a fully taxed basis while in 2016 earnings were not taxed as a valuation allowance for a deferred tax asset was in place. Earnings per share (EPS) of $0.05 per share on 16,130,000 shares for the quarter ended September 30, 2017 compares to EPS of $0.11 per share on 7,730,000 shares for the same time period in 2016. The year over year shares outstanding reflects the addition of the $21 million capital raise completed in the first quarter of 2017. Net income for the nine months ended September 30, 2017 was $6.2 million or $0.39 per share compared to $2.1 million or $0.23 per share for the same period in 2016. Included in the nine month 2017 income is the tax benefit from reversing a $3.5 million valuation allowance for the deferred tax asset.

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US Metro Bank Announces Second Quarter 2017 Financial Results 95.8% INCREASE IN NET INCOME

July 26, 2017  |  News

Garden Grove, CaliforniaJuly 26, 2017: US Metro Bank (OTC Pink: USMT) Mr. Dong Il Kim, President and CEO, announced the bank's financial results for the second quarter 2017, reporting net income of $1,130,000 for the three months ending June 30, 2017. This reflects a 95.8% increase over the $577,000 earned for the three months ended June 30, 2016. Earnings per share (EPS) of $0.07 per share on 16,130,000 shares for the quarter ended June 30, 2017 compares to EPS of $0.07 per share on 7,730,000 shares for the same time period in 2016. The year over year EPS reflects the addition of the $21 million capital raise completed in the first quarter of 2017. Net income for the six months ended June 30, 2017 was $5.4 million or $0.33 per share compared to $1.1 million or $0.14 per share for the same period in 2016. Included in the six month 2017 income is the tax benefit from reversing a $3.5 million valuation allowance for the deferred tax asset.

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US Metro Bank Completes $21.0 Million Common Stock Offering

March 17, 2017  |  Press Release

President and Chief Executive Officer Dong Il Kim discussed the offering: "We were pleased that the offering was significantly oversubscribed.  Investors clearly understand that Southern California is a great place to do business and that US Metro Bank is well positioned in the marketplace.  This new capital will be used to support organic growth opportunities in the markets we serve and further enhance the value of our franchise. Furthermore, the addition of premier institutional bank investors to our shareholder base will help to promote increased liquidity and financial sponsorship."

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