United Business Bank Reports Strong Q3 2024 Financial Performance

The latest financial data for United Business Bank reveals key metrics for the third quarter of 2024. The loan-to-deposit ratio stands at 89.50%, showing a stable lending environment. The efficiency ratio, which measures overhead as a percentage of revenue, is at 62.76%, indicating effective cost management.

Charge-offs, net, amounted to $1,544, reflecting the bank's handling of bad debt. Per share data shows 11,130,372 shares outstanding, with diluted earnings per share at $0.54, and a book value per share of $28.90.

Asset quality metrics indicate nonperforming assets to total assets at 0.38%, and nonperforming loans to total loans at 0.51%. The allowance for credit losses on loans to nonperforming loans is robust at 188.64%.

Capital ratios are strong, with a Tier 1 leverage ratio of 13.23% and a common equity Tier 1 capital ratio of 16.81%. Equity to total assets is 12.55%, while tangible equity to tangible assets is 11.10%.

Total loans amount to $1,911,921, with real estate loans at $1,725,309 and non-real estate loans at $176,456. The number of full-service offices remains at 35, with 336 full-time equivalent employees.

Non-GAAP financial measures provide additional insights, with tangible book value per share at $25.14 and tangible equity to tangible assets at 11.10%. These measures exclude intangible assets, offering a clearer view of the bank's financial health.

Overall, United Business Bank maintains a strong financial position with effective asset management and capital adequacy, positioning it well for future growth.