8-K

1

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON,

D.C. 20549

__________________________

FORM

8-K

__________________________

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act

of 1934

Date of Report (Date of earliest event reported):

October 27, 2022

__________________________

USCB Financial Holdings, Inc.

(Exact name of Registrant as Specified in Its Charter)

__________________________

Florida

001-41196

87-4070846

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification No.)

2301 N.W. 87th Avenue

,

Miami

,

Florida

33172

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s Telephone

Number, Including Area Code: (

305

)

715-5200

__________________________

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation

of the registrant under

any of the following provisions:

☐

Written communications pursuant

to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a

-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b)

under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange

Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading

Symbol(s)

Name of each exchange on which registered

Class A common stock, $1.00 par value per share

USCB

The Nasdaq Stock Market LLC

Indicate by

check mark

whether the

registrant is

an emerging

growth company

as defined

in Rule

405 of

the Securities

Act of

1933

(§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b

-2 of this chapter).

Emerging growth company

☒

If

an

emerging

growth

company,

indicate

by

check

mark

if

the

registrant

has

elected

not

to

use

the

extended

transition

period

for

complying with any new or revised financial accounting standards provided

pursuant to Section 13(a) of the Exchange Act.

☐

2

Item 2.02. Results of Operations and Financial Condition.

On October 27, 2022, USCB Financial Holdings, Inc. (the “Company”),

issued a press release announcing its financial results

for the third quarter ended September 30, 2022. A copy of the press release is furnished

as Exhibit 99.1 to this Current Report on Form

8-K and is incorporated herein by reference.

The information

in this Item

2.02, including

Exhibit 99.1, is

being furnished

and shall not

be deemed

“filed” for purposes

of

Section 18 of the

Securities Exchange Act

of 1934 (the “Exchange

Act”), or otherwise subject

to the liability of

that section, and

shall

not be deemed

to be incorporated

by reference into

any filing under

the Securities Act of

1933 (the “Securities

Act”) or the

Exchange

Act.

Item 7.01. Regulation FD Disclosure.

As previously announced, at 9:00 a.m. ET on October 28,

2022, the Company will hold an earnings conference call to discuss

its financial performance

for the quarter ended

September 30, 2022. A copy

of the slides forming

the basis of the presentation

is being

furnished as Exhibit 99.2 to this Current Report on Form

8-K and is incorporated herein by reference. A copy of the

slides has also been

posted to the Company’s investor relations

website, located at investors.uscenturybank.com.

The information

in this Item

7.01, including

Exhibit 99.2, is

being furnished

and shall not

be deemed

“filed” for purposes

of

Section 18

of the

Exchange Act,

or otherwise

subject to

the

liability of

that section,

and

shall not

be deemed

to be

incorporated

by

reference into any filing under the Securities Act or the Exchange Act.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits.

Exhibit No.

Description

99.1

USCB Financial Holdings, Inc. Press Release, dated October 27, 2022

99.2

Earnings Presentation, dated October 28, 2022

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

exhibit991

1

Exhibit 99.1

EARNINGS RELEASE

USCB Financial Holdings, Inc. Reports ROAA of 1.09% and ROAE of

11.90% for 3Q2022

MIAMI – October 27, 2022 – USCB Financial Holdings, Inc. (the “Company”) (NASDAQ: USCB)

, the holding company for U.S.

Century

Bank

(the

“Bank”),

reported

net

income

of

$5.6

million

or

$0.28

per

diluted

Class

A

share

for

the

three

months

ended

September 30, 2022, compared

with net income of

$6.6 million or $5.11

loss and $1.02 loss per

diluted share for

Class A and Class

B

common stock, respectively,

for the same period in 2021. On December 21, 2021, the Company agreed to exchange

all the outstanding

shares of Class B common stock for Class A common

stock at a ratio of 1 share of Class A common

stock for each 5 shares of Class B

common stock. As of December 31, 2021, the Company’s

only class of securities issued and outstanding was Class A common stock.

“We are pleased to report

another quarter of

strong financial performance

during the third

quarter of 2022.

Our loan and

deposit activities

remain strong, with total

assets and loans growing

16.1% and 21.7%, respectively,

from September 30, 2021.

Even with the changing

economic

outlook

and all

the uncertainty,

our

ability to

attract and

retain clients

continues to

fuel outsized

growth.”

said Luis

de la

Aguilera, President and Chief Executive Officer.

“On

September

28,

2022,

Hurricane

Ian

made

landfall

in

Florida

as

a

category

4

hurricane

affecting

some

areas

of

the

state

with

significant

flooding,

wind

damage

and

power

outages.

The

Company

has

assessed

the

impact

of

the

hurricane

on

our

borrowers,

including the value of collateral underlying our loans and the financial condition of our borrowers impacted

by the storm. Management

visited the

3 counties

most impacted

by the storm

(Lee, Charlotte,

and Collier

counties) and

observed negligible

to no damage

to our

clients’ properties.

We had 9 yachts

in the path of the storm and are happy to report

that all owners of the vessels reported no damage.

Additionally, we have

received no requests for loan modifications.”

Unless otherwise stated, all percentage comparisons

in the bullet points below are calculated

for the quarter ended September 30, 2022

compared to the quarter ended September 30, 2021 and annualized

where appropriate.

Profitability

•

Annualized return on average assets for the quarter

ended September 30, 2022 was 1.09% compared to 1.50

%

for the third quarter

of 2021.

•

Annualized return on average stockholders’ equity for the quarter ended September

30, 2022 was 11.90% compared to 13.41% for

the third quarter of 2021.

•

The efficiency ratio for the quarter ended September 30,

2022 was 54.58% compared to 50.92% for the third quarter of 2021.

•

Net interest margin increased to 3.47% for the quarter ended September

30, 2022 compared to 3.19% for the third quarter of 2021.

•

Net interest income

before provision for

credit losses was

$16.8 million for

the quarter ended

September 30, 2022, an

increase of

$3.3 million or 24.5% compared to the third quarter of 2021.

Balance Sheet

•

Total assets were $2.0 billion

at September 30, 2022,

representing an increase

of $282.4 million or

16.1%

from September 30, 2021.

•

Total loans were $1.4 billion at September 30, 2022, representing

an increase of $255.1 million

or 21.7% from September 30,

2021.

•

Total

deposits were

$1.8

billion at

September 30, 2022,

representing an

increase of

$312.1 million or

21.0% from

September 30,

2021.

•

Total

stockholders’

equity

was

$177.4 million

at

September 30,

2022,

representing

a

decrease

of

$24.5

million

or

12.1%

from

September 30, 2021.

•

Total

stockholders’

equity

includes

unrealized

security

losses

of

$45.2

million

at

September 30,

2022

compared

to

unrealized

security gains of $1.2 million at September 30, 2021.

2

•

The Company

classified $74.4

million

of securities

to held-to-maturity

(HTM)

during the

quarter ended

September 30,

2022

to

protect tangible book value in a rising rate environment.

Asset Quality

•

The

allowance

for

credit

losses

increased

by

$1.7

million

to

$16.6 million

at

September 30,

2022

from

$14.9

million

at

September 30, 2021.

•

The allowance for credit losses represented 1.16% of total loans at September 30, 2022 compared to 1.27% at September 30, 2021.

•

Non-performing loans to total loans was 0.00% at September 30,

2022 and 2021.

Non-interest Income and Non-interest Expense

•

Non-interest

income was

$1.8

million

for

the

three

months

ended September 30,

2022,

a

decrease

of

$2.4

million

or 57.6%

compared to the same period in 2021.

•

Non-interest

expense

was

$10.1 million

for

the

three

months

ended

September 30,

2022,

an

increase

of

$1.1

million

or

12.5%

compared to the same period in 2021.

Capital

•

As of September 30, 2022,

total risk-based capital ratios for the Company and the Bank were 13.65% and 13.58%,

respectively.

•

Tangible book value per common share

of $8.87 was

negatively affected by $2.26

due to unrealized security

losses at September 30,

2022.

At September 30, 2021, tangible book value of $10.10 was positively affected

by $0.06 due to unrealized security gains.

Conference Call and Webcast

The Company will

host a conference

call on Friday,

October 28, 2022,

at 9:00 a.m. Eastern Time

to discuss the Company’s

unaudited

financial results

for the quarter

ended September 30, 2022.

To

access the conference

call, dial (866)

652-5200 (U.S. toll-free)

and ask

to join the USCB Financial Holdings Call.

Additionally,

interested

parties can

listen to

a live

webcast

of the

call in

the “Investor

Relations” section

of the

Company’s

website

at www.uscentury.com

.

An archived version of the webcast will be available in the same location shortly after

the live call has ended.

About USCB Financial Holdings, Inc.

USCB Financial Holdings, Inc.

is the bank holding company for

U.S. Century Bank. Established in 2002,

U.S. Century Bank is one of

the largest community banks headquartered in

Miami, and one of

the largest community banks in

the state of Florida. U.S.

Century Bank

is rated 5-Stars by BauerFinancial, the nation’s leading independent bank rating firm. U.S. Century Bank offers customers a wide range

of

financial

products

and

services

and

supports

numerous

community

organizations,

including

the

Greater

Miami

Chamber

of

Commerce, the

South Florida Hispanic

Chamber of Commerce,

and ChamberSouth. For

more information or

to find a banking

center

near you, please call (305) 715-5200 or visit www.uscentury.com.

Forward-Looking Statements

This earnings

release may contain

statements that are

not historical in

nature and are

intended to be,

and are hereby

identified as,

forward-

looking statements for

purposes of the safe

harbor provided by

Section 21E of

the Securities Exchange

Act of 1934,

as amended. The

words “may,”

“will,” “anticipate,” “should,”

“would,” “believe,”

“contemplate,” “expect,”

“aim,” “plan,”

“estimate,” “continue,”

and

“intend,”

as

well

as

other

similar

words

and

expressions

of

the

future,

are

intended

to

identify

forward-looking

statements.

These

forward-looking

statements

include

statements

related

to

our

projected

growth,

anticipated

future

financial

performance,

and

management’s long-term performance goals, as

well as

statements relating to

the anticipated effects

on results of

operations and financial

condition from expected developments or events, or business and

growth strategies, including anticipated internal growth.

These forward-looking statements involve significant risks and uncertainties that could cause our actual

results to differ materially from

those anticipated in such statements. Potential risks and uncertainties include,

but are not limited to:

•

the strength

of the United States economy in general and the strength of the local economies in which we conduct

operations;

•

the continuation of the COVID-19 pandemic and its impact on us, our employees, customers and third-party service providers, and

the ultimate extent of the impact of the pandemic and related government

stimulus programs;

3

•

our ability to successfully manage interest rate risk, credit risk, liquidity risk,

and other risks inherent to our industry;

•

the

accuracy

of

our

financial

statement

estimates

and

assumptions,

including

the

estimates

used

for

our

credit

loss

reserve

and

deferred tax asset valuation allowance;

•

the efficiency and effectiveness of our internal

control environment;

•

our ability to comply with

the extensive laws and

regulations to which we are

subject, including the laws for

each jurisdiction where

we operate;

•

legislative or regulatory changes and changes in accounting principles, policies, practices or guidelines, including the effects of the

forthcoming implementation of the Current Expected Credit Losses (“CECL”)

standard;

•

the effects of

our lack of

a diversified loan

portfolio and concentration in

the South Florida

market, including the

risks of geographic,

depositor, and industry concentrations, including

our concentration in loans secured by real estate;

•

the concentration of ownership of our Class A common stock;

•

fluctuations in the price of our Class A common stock;

•

our ability to

fund or access

the capital markets

at attractive rates

and terms and

manage our growth,

both organic

growth as well

as growth through other means, such as future acquisitions;

•

inflation, interest rate, unemployment rate, market, and monetary

fluctuations;

•

increased competition and its effect on the pricing of our products

and services as well as our margin;

•

the effectiveness

of our risk management

strategies, including operational

risks, including, but

not limited to, client,

employee, or

third-party fraud and security breaches; and

•

other risks described in this earnings release and other filings we make with the

Securities and Exchange Commission (“SEC”).

All forward-looking statements are necessarily only estimates of future results, and there can be no assurance that actual results will not

differ materially from

expectations. Therefore, you

are cautioned not

to place undue

reliance on any

forward-looking statements. Further,

forward-looking

statements included

in this

earnings release

are made

only as

of the

date hereof,

and we

undertake no

obligation

to

update or

revise any

forward-looking statement

to reflect

events or

circumstances after

the date

on which

the statement

is made

or to

reflect the occurrence of unanticipated events, unless required to

do so under the federal securities

laws. You should also review the risk

factors described in the reports the Company filed or will file with the SEC and, for periods prior to the completion of the bank holding

company reorganization in December 2021, the Bank

filed with the FDIC.

Non-GAAP Financial Measures

This earnings

release includes financial

information determined by

methods other than

in accordance with

generally accepted accounting

principles (“GAAP”). This financial

information includes certain

operating performance measures. Management

has included these

non-

GAAP

measures

because

it

believes

these

measures

may

provide

useful

supplemental

information

for

evaluating

the

Company’s

underlying

performance

trends. Further,

management

uses these

measures

in managing

and

evaluating

the

Company’s

business

and

intends to

refer to

them in

discussions about

our operations

and performance.

Operating performance

measures should

be viewed

in

addition

to,

and

not

as

an

alternative

to

or

substitute

for,

measures

determined

in

accordance

with

GAAP,

and

are

not

necessarily

comparable

to non-GAAP measures that

may be presented

by other companies.

To

the extent applicable,

reconciliations of these

non-

GAAP measures to the most directly

comparable GAAP measures can be

found in the ‘Non-GAAP Reconciliation

Tables’ included

in

the exhibits

to this earnings release.

You

should assume that all numbers are unaudited unless otherwise noted.

Contacts:

Investor Relations

InvestorRelations@uscentury.com

Media Relations

Martha Guerra-Kattou

MGuerra@uscentury.com

4

USCB FINANCIAL HOLDINGS, INC.

CONSOLIDATED STATEMENTS

OF INCOME (UNAUDITED)

(Dollars in thousands, except per share data)

Three Months Ended September 30,

Nine Months Ended September 30,

2022

2021

2022

2021

Interest income:

Loans, including fees

$

15,954

$

12,538

$

42,989

$

35,944

Investment securities

2,201

1,858

7,040

5,670

Interest-bearing deposits in financial institutions

322

38

474

77

Total interest income

18,477

14,434

50,503

41,691

Interest expense:

Interest-bearing checking

19

16

52

45

Savings and money market accounts

1,141

501

2,307

1,572

Time deposits

363

306

893

1,239

FHLB advances and other borrowings

180

140

456

415

Total interest expense

1,703

963

3,708

3,271

Net interest income before provision for credit losses

16,774

13,471

46,795

38,420

Provision for credit losses

910

-

1,615

(160)

Net interest income after provision for credit losses

15,864

13,471

45,180

38,580

Non-interest income:

Service fees

934

856

2,917

2,648

Gain (loss) on sale of securities available for sale, net

(558)

(70)

(540)

179

Gain on sale of loans held for sale, net

330

532

686

1,519

Loan settlement

-

2,500

161

2,500

Other non-interest income

1,083

399

2,127

1,208

Total non-interest income

1,789

4,217

5,351

8,054

Non-interest expense:

Salaries and employee benefits

6,075

5,313

17,863

15,804

Occupancy

1,281

1,192

3,802

3,990

Regulatory assessments and fees

269

317

708

690

Consulting and legal fees

604

357

1,519

915

Network and information technology services

488

358

1,323

1,198

Other operating expense

1,415

1,470

4,080

3,761

Total non-interest expense

10,132

9,007

29,295

26,358

Net income before income tax expense

7,521

8,681

21,236

20,276

Income tax expense

1,963

2,088

5,529

4,849

Net income

5,558

6,593

15,707

15,427

Preferred stock dividend

-

542

-

2,077

Exchange and redemption of preferred shares

-

89,585

-

89,585

Net income available to common stockholders

$

5,558

$

(83,534)

$

15,707

$

(76,235)

Allocation of net income (loss) per common stock class:

(1)

Class A

$

5,558

$

(77,278)

$

15,707

$

(65,747)

Class B

$

-

$

(6,256)

$

-

$

(10,488)

Per share information:

(1)

Class A common stock

(2)

Net income (loss) per share, basic

$

0.28

$

(5.11)

$

0.79

$

(8.57)

Net income (loss) per share, diluted

$

0.28

$

(5.11)

$

0.78

$

(8.57)

Class B common stock

Net loss per share, basic

$

-

$

(1.02)

$

-

$

(1.71)

Net loss per share, diluted

$

-

$

(1.02)

$

-

$

(1.71)

Weighted average shares outstanding:

Class A common stock

(2)

Basic

20,000,753

15,121,460

19,998,841

7,674,609

Diluted

20,148,208

15,121,460

20,178,089

7,674,609

Class B common stock

Basic

-

6,121,052

-

6,121,052

Diluted

-

6,121,052

-

6,121,052

(1)

For the three and nine months ended September

30, 2021, the allocation of net income available to

common stockholders was based on the weighted average shares

outstanding per common share class to the total weighted

average shares outstanding during the period. The income allocation

is calculated using the weighted average

shares outstanding of Class B common stock on an as-converted

basis (20% per share equivalent to Class A common

stock).

(2)

For the nine months ended September 30, 2021, the

common stock outstanding, weighted average shares and

net income per share for the Class A common stock

have been adjusted to reflect the 1 for 5 reverse stock split

that occurred in June 2021.

5

USCB FINANCIAL HOLDINGS, INC.

SELECTED FINANCIAL DATA (UNAUDITED)

(Dollars in thousands, except per share data)

As of or For the Three Months Ended

9/30/2022

6/30/2022

3/31/2022

12/31/2021

9/30/2021

Income statement data:

Net interest income

$

16,774

$

15,642

$

14,379

$

14,076

$

13,471

Provision for credit losses

910

705

-

-

-

Net interest income after provision for credit losses

15,864

14,937

14,379

14,076

13,471

Service fees

934

1,083

900

961

856

Gain (loss) on sale of securities available for sale, net

(558)

(3)

21

35

(70)

Gain on sale of loans held for sale, net

330

22

334

107

532

Gain on sale of other assets

-

-

-

983

-

Loan settlement

-

-

161

-

2,500

Other income

1,083

515

529

558

399

Total non-interest income

1,789

1,617

1,945

2,644

4,217

Salaries and employee benefits

6,075

5,913

5,875

5,634

5,313

Occupancy

1,281

1,251

1,270

1,267

1,192

Regulatory assessments and fees

269

226

213

93

317

Consulting and legal fees

604

398

517

539

357

Network and information technology services

488

448

387

268

358

Other operating expense

1,415

1,315

1,350

1,518

1,470

Total non-interest expense

10,132

9,551

9,612

9,319

9,007

Net income before income tax expense

7,521

7,003

6,712

7,401

8,681

Income tax expense

1,963

1,708

1,858

1,751

2,088

Net income

5,558

5,295

4,854

5,650

6,593

Preferred stock dividend

-

-

-

-

542

Exchange and redemption of preferred shares

-

-

-

-

89,585

Net income (loss) available to common stockholders

$

5,558

$

5,295

$

4,854

$

5,650

$

(83,534)

Allocation of net income (loss) per common stock class:

(1)

Class A

$

5,558

$

5,295

$

4,854

$

5,650

$

(77,278)

Class B

$

-

$

-

$

-

$

-

$

(6,256)

Per share information:

Class

A common stock

Net income (loss) per share, basic

$

0.28

$

0.26

$

0.24

$

0.30

$

(5.11)

Net income (loss) per share, diluted

$

0.28

$

0.26

$

0.24

$

0.30

$

(5.11)

Class B common stock

Net loss per share, basic

$

-

$

-

$

-

$

-

$

(1.02)

Net loss per share, diluted

$

-

$

-

$

-

$

-

$

(1.02)

Balance sheet data (at period-end):

Cash and cash equivalents

$

73,326

$

83,272

$

94,113

$

46,228

$

69,597

Securities available-for-sale

$

248,571

$

339,464

$

392,214

$

401,542

$

328,171

Securities held-to-maturity

$

178,865

$

116,671

$

122,361

$

122,658

$

99,866

Total securities

$

427,436

$

456,135

$

514,575

$

524,200

$

428,037

Loans held for investment

(2)

$

1,431,513

$

1,372,733

$

1,258,388

$

1,190,081

$

1,176,412

Allowance for credit losses

$

(16,604)

$

(15,786)

$

(15,074)

$

(15,057)

$

(14,900)

Total assets

$

2,037,453

$

2,016,086

$

1,967,252

$

1,853,939

$

1,755,011

Non-interest-bearing deposits

$

662,808

$

653,708

$

656,622

$

605,425

$

570,091

Interest-bearing deposits

$

1,133,834

$

1,085,012

$

1,056,672

$

984,954

$

914,498

Total deposits

$

1,796,642

$

1,738,720

$

1,713,294

$

1,590,379

$

1,484,589

FHLB advances and other borrowings

$

26,000

$

66,000

$

36,000

$

36,000

$

36,000

Total liabilities

$

1,860,036

$

1,836,018

$

1,775,213

$

1,650,042

$

1,553,093

Total stockholders' equity

$

177,417

$

180,068

$

192,039

$

203,897

$

201,918

Capital ratios:

(3)

Leverage ratio

9.48%

9.43%

9.47%

9.55%

9.69%

Common equity tier 1 capital

12.56%

12.65%

13.35%

13.70%

13.85%

Tier 1 risk-based capital

12.56%

12.65%

13.35%

13.70%

13.85%

Total risk-based capital

13.65%

13.74%

14.49%

14.92%

15.10%

(1)

The allocation of net income (loss) available to common

stockholders was based on the weighted average

shares outstanding per common share class to the total

weighted average shares outstanding during each period. The

income (loss) allocation is calculated using the weighted average

shares outstanding of Class B common

stock on an as-converted basis (20% per share equivalent to

Class A common stock).

(2)

Loan amounts include deferred fees/costs.

(3)

The Company was formed during the quarter ended December

31, 2021. As such, the capital ratios for Q3 2022, Q2

2022, Q1 2022 and Q4 2021 are for the

Company and for Q3 2021 are for the Bank. The Company, as a small bank holding

company, is not subject to regulatory capital requirements.

6

USCB FINANCIAL HOLDINGS, INC.

AVERAGE BALANCES, RATIOS, AND OTHER DATA

(UNAUDITED)

(Dollars in thousands)

As of or For the Three Months Ended

9/30/2022

6/30/2022

3/31/2022

12/31/2021

9/30/2021

Average balance sheet data:

Cash and cash equivalents

$

77,887

$

80,254

$

99,911

$

87,819

$

116,622

Securities available-for-sale

$

331,206

$

370,933

$

385,748

$

374,589

$

346,407

Securities held-to-maturity

$

116,733

$

120,130

$

122,381

$

114,108

$

51,238

Total securities

$

447,939

$

491,063

$

508,129

$

488,697

$

397,645

Loans held for investment

(1)

$

1,398,761

$

1,296,476

$

1,211,432

$

1,158,755

$

1,144,275

Total assets

$

2,026,791

$

1,968,381

$

1,913,484

$

1,828,037

$

1,741,423

Interest-bearing deposits

$

1,107,129

$

1,071,709

$

1,023,844

$

958,241

$

912,330

Non-interest-bearing deposits

$

655,853

$

644,975

$

626,400

$

603,735

$

564,928

Total deposits

$

1,762,982

$

1,716,684

$

1,650,244

$

1,561,976

$

1,477,258

FHLB advances and other borrowings

$

43,935

$

36,330

$

36,011

$

36,000

$

36,000

Total liabilities

$

1,841,503

$

1,781,784

$

1,711,624

$

1,625,675

$

1,546,414

Total stockholders' equity

$

185,288

$

186,597

$

201,860

$

202,362

$

195,009

Performance ratios:

Return on average assets

(2)

1.09%

1.08%

1.03%

1.23%

1.50%

Return on average equity

(2)

11.90%

11.38%

9.75%

11.08%

13.41%

Net interest margin

(2)

3.47%

3.37%

3.22%

3.19%

3.19%

Non-interest income to average assets

(2)

0.35%

0.33%

0.41%

0.57%

0.96%

Efficiency ratio

(3)

54.58%

55.34%

58.88%

55.74%

50.92%

Loans by type (at period end):

(4)

Residential real estate

$

186,551

$

203,662

$

204,317

$

201,359

$

201,124

Commercial real estate

$

928,531

$

843,445

$

782,072

$

704,988

$

693,469

Commercial and industrial

$

121,145

$

131,271

$

134,832

$

146,592

$

137,486

Foreign banks

$

94,450

$

84,770

$

63,985

$

59,491

$

58,839

Consumer and other

$

100,845

$

109,250

$

73,765

$

79,229

$

87,515

Asset quality data:

Allowance for credit losses to total loans

1.16%

1.15%

1.20%

1.27%

1.27%

Allowance for credit losses to non-performing loans

• %

• %

• %

1,265%

82,778%

Non-accrual loans less non-accrual TDRs

-

-

-

1,190

-

Non-accrual TDRs

-

-

-

-

18

Loans over 90 days past due and accruing

-

-

-

-

-

Total non-performing loans

(5)

-

-

-

1,190

18

Non-performing loans to total loans

• %

• %

• %

0.10%

0.00%

Non-performing assets to total assets

• %

• %

• %

0.06%

0.00%

Net charge-offs (recoveries of) to average loans

(2)

0.03%

(0.00)%

(0.01)%

(0.05)%

(0.02)%

Net charge-offs (recovery of) credit losses

91

(7)

(17)

(157)

(51)

Interest rates and yields:

(2)

Loans

4.53%

4.35%

4.35%

4.32%

4.29%

Investment securities

1.94%

2.04%

1.85%

1.81%

1.86%

Total interest-earning assets

3.82%

3.60%

3.43%

3.41%

3.43%

Deposits

0.34%

0.21%

0.20%

0.21%

0.22%

FHLB advances and other borrowings

1.63%

1.53%

1.54%

1.51%

1.52%

Total interest-bearing liabilities

0.59%

0.38%

0.37%

0.38%

0.40%

Other information:

Full-time equivalent employees

191

192

190

187

184

(1)

Loan amounts include deferred fees/costs.

(2)

Annualized.

(3)

Efficiency ratio is defined as total non-interest expense divided

by sum of net interest income and total non-interest

income.

(4)

Loan amounts exclude deferred fees/costs.

(5)

The amounts for total non-performing loans and total non-performing

assets are the same for the dates presented since there were

no impaired investments or other

real estate owned (OREO) recorded.

7

USCB FINANCIAL HOLDINGS, INC.

NET INTEREST MARGIN (UNAUDITED)

(Dollars in thousands)

Three Months Ended September 30,

2022

2021

Average

Balance

Interest

Yield/Rate

(1)

Average

Balance

Interest

Yield/Rate

(1)

Assets

Interest-earning assets:

Loans

(2)

$

1,398,761

$

15,954

4.53%

$

1,144,275

$

12,538

4.29%

Investment securities

(3)

450,514

2,201

1.94%

399,745

1,858

1.86%

Other interest-earnings assets

70,540

322

1.81%

109,639

38

0.14%

Total interest-earning assets

1,919,815

18,477

3.82%

1,653,659

14,434

3.43%

Non-interest-earning assets

106,976

87,764

Total assets

$

2,026,791

$

1,741,423

Liabilities and stockholders' equity

Interest-bearing liabilities:

Interest-bearing checking

$

66,585

19

0.11%

$

55,621

16

0.11%

Saving and money market deposits

823,521

1,141

0.55%

627,654

501

0.32%

Time deposits

217,023

363

0.66%

229,055

306

0.53%

Total interest-bearing deposits

1,107,129

1,523

0.55%

912,330

823

0.36%

FHLB advances and other borrowings

43,935

180

1.63%

36,000

140

1.52%

Total interest-bearing liabilities

1,151,064

1,703

0.59%

948,330

963

0.40%

Non-interest-bearing demand deposits

655,853

564,928

Other non-interest-bearing liabilities

34,586

33,156

Total

liabilities

1,841,503

1,546,414

Stockholders' equity

185,288

195,009

Total liabilities and stockholders' equity

$

2,026,791

$

1,741,423

Net interest income

$

16,774

$

13,471

Net interest spread

(4)

3.23%

3.03%

Net interest margin

(5)

3.47%

3.19%

(1)

Annualized.

(2)

Average loan balances include non-accrual loans. Interest income on loans includes accretion

of deferred loan fees, net of deferred loan costs.

(3)

At fair value except for securities held to maturity. This amount includes FHLB

stock.

(4)

Net interest spread is the average yield on total interest-earning

assets minus the average rate on total interest-bearing liabilities.

(5)

Net interest margin is the ratio of net interest income to total

interest-earning assets.

8

USCB FINANCIAL HOLDINGS, INC.

NON-GAAP FINANCIAL MEASURES (UNAUDITED)

(Dollars in thousands)

As of or For the Three Months Ended

9/30/2022

6/30/2022

3/31/2022

12/31/2021

9/30/2021

Pre-tax pre-provision ("PTPP") income:

Net income

$

5,558

$

5,295

$

4,854

$

5,650

$

6,593

Plus: Provision for income taxes

1,963

1,708

1,858

1,751

2,088

Plus: Provision for credit losses

910

705

-

-

-

PTPP income

$

8,431

$

7,708

$

6,712

$

7,401

$

8,681

PTPP return on average assets:

PTPP income

$

8,431

$

7,708

$

6,712

$

7,401

$

8,681

Average assets

$

2,026,791

$

1,968,381

$

1,913,484

$

1,828,037

$

1,741,423

PTPP return on average assets

(1)

1.65%

1.57%

1.42%

1.61%

1.98%

Operating net income:

Net income

$

5,558

$

5,295

$

4,854

$

5,650

$

6,593

Less: Net gains (losses) on sale of securities

(558)

(3)

21

35

(70)

Less: Tax effect on sale of securities

141

1

(5)

(9)

17

Operating net income

$

5,975

$

5,297

$

4,838

$

5,624

$

6,646

Operating PTPP income:

PTPP income

$

8,431

$

7,708

$

6,712

$

7,401

$

8,681

Less: Net gains (losses) on sale of securities

(558)

(3)

21

35

(70)

Operating PTPP income

$

8,989

$

7,711

$

6,691

$

7,366

$

8,751

Operating PTPP return on average assets:

Operating PTPP income

$

8,989

$

7,711

$

6,691

$

7,366

$

8,751

Average assets

$

2,026,791

$

1,968,381

$

1,913,484

$

1,828,037

$

1,741,423

Operating PTPP return on average assets

(1)

1.76%

1.57%

1.42%

1.60%

1.99%

Operating return on average assets:

Operating net income

$

5,975

$

5,297

$

4,838

$

5,624

$

6,646

Average assets

$

2,026,791

$

1,968,381

$

1,913,484

$

1,828,037

$

1,741,423

Operating return on average assets

(1)

1.17%

1.08%

1.03%

1.22%

1.51%

(1)

Annualized.

9

USCB FINANCIAL HOLDINGS, INC.

NON-GAAP FINANCIAL MEASURES (UNAUDITED)

(Dollars in thousands, except per share data)

As of or For the Three Months Ended

9/30/2022

6/30/2022

3/31/2022

12/31/2021

9/30/2021

Tangible book value per common share (at period-end):

(1)

Total stockholders' equity

$

177,417

$

180,068

$

192,039

$

203,897

$

201,918

Less: Intangible assets

-

-

-

-

-

Tangible stockholders' equity

$

177,417

$

180,068

$

192,039

$

203,897

$

201,918

Total shares issued and outstanding (at period-end):

(2)

Class A common shares

20,000,753

20,000,753

20,000,753

19,991,753

18,767,541

Class B common shares

-

-

-

-

1,224,212

Total common shares issued and outstanding

20,000,753

20,000,753

20,000,753

19,991,753

19,991,753

Tangible book value per common share

(3)

$

8.87

$

9.00

$

9.60

$

10.20

$

10.10

Operating net income available to common stockholders:

(1)

Net income

$

5,558

$

5,295

$

4,854

$

5,650

$

6,593

Less: Preferred dividends

-

-

-

-

542

Less: Exchange and redemption of preferred shares

(2)

-

-

-

-

89,585

Net income (loss) available to common stockholders

5,558

5,295

4,854

5,650

(83,534)

Add back: Exchange and redemption of preferred shares

-

-

-

-

89,585

Operating net income avail. to common stock

$

5,558

$

5,295

$

4,854

$

5,650

$

6,051

Allocation of operating net income per common stock

class:

Class A common stock

$

5,558

$

5,295

$

4,854

$

5,650

$

5,598

Class B common stock

$

-

$

-

$

-

$

-

$

453

Weighted average shares outstanding:

Class A common stock

Basic

20,000,753

20,000,753

19,994,953

18,913,914

15,121,460

Diluted

20,148,208

20,171,261

20,109,783

19,023,686

15,121,460

Class B common stock

Basic

-

-

-

-

6,121,052

Diluted

-

-

-

-

6,121,052

Diluted EPS:

(4) (5)

Class A common stock

Net income (loss) per diluted share

$

0.28

$

0.26

$

0.24

$

0.30

$

(5.11)

Add back: Exchange and redemption of preferred shares

-

-

-

-

5.48

Operating net income per diluted share

$

0.28

$

0.26

$

0.24

$

0.30

$

0.37

Class B common stock

Net income (loss) per diluted share

$

-

$

-

$

-

$

-

$

(1.02)

Add back: Exchange and redemption of preferred shares

-

-

-

-

1.09

Operating net income per diluted share

$

-

$

-

$

-

$

-

$

0.07

(1)

The Company believes these non-GAAP measurements

are key indicators of the ongoing earnings power

of the Company.

(2)

During the quarter ended September 30, 2021, 47,473

shares of Class C preferred stock and 11,061,552 shares of Class D

preferred stock were converted into

10,278,072 shares of Class A common stock. Additionally, the Bank closed on the

initial public offering of its Class A common stock on July 27,

2021, in which it

issued 4,600,000 shares of Class A common stock. As such,

the total shares issued and outstanding of Class A common

stock was 18,767,541 shares at September 30,

2021.

(3)

Excludes the dilutive effect, if any, of shares of common stock issuable upon exercise of outstanding

stock options.

(4)

During the quarter ended September 30, 2021, basic

net loss per share is the same as diluted net loss per share

as the inclusion of all potential common shares

outstanding would have been antidilutive.

(5)

During the quarter ended December 31, 2021, the Company

entered into agreements with the Class B common

shareholders to exchange all outstanding Class B

non-voting common stock for Class A voting common stock

at a ratio of 1 share of Class A common stock for

each 5 shares of Class B non-voting common stock. In

calculating net income (loss) per diluted share for the prior

quarters presented, the allocation of operating net income available

to common stockholders was based on

the weighted average shares outstanding per common share

class to the total weighted average shares outstanding

during each period. The operating net income

allocation was calculated using the weighted average shares

outstanding of Class B common stock on an as-converted basis.

exhibit992

Exhibit 99.2 USBC FINANCIAL HOLDINGS

Third Quarter 2022

Earnings Presentation

October 28, 2022

Forward-Looking Statements This presentation may contain statements

that are not historical in nature and are intended to be, and are

hereby identified as, forward-looking statements for purposes of the

safe harbor provided by Section 21E of the Securities Exchange

Act of 1934, as amended. The words “may,” “will,”

“anticipate,” “should,” “would,” “believe,” “contemplate,” “expect

,” “aim,” “plan,” “estimate,” “continue,” and “intend,” as well as other

similar words and expressions of the future, are intended to identi

fy forward-looking statements. These forward-looking statements

include statements related to our projected growth, anticipated future

financial performance, and management’s long-term performance

goals, as well as statements relating to the anticipated effects on results

of operations and financial condition from expected developments

or events, or business and growth strategies, including anticipated

internal growth. These forward-looking statements involve significant

risks and uncertainties that could cause our actual results to differ

materially from those anticipated in such statements. Potential risks and

uncertainties include, but are not limited to: • the strength of the

United States economy in general and the strength of the local economies

in which we conduct operations; • the continuation of the COVID-19

pandemic and its impact on us, our employees, customers and

third-party service providers, and the ultimate extent of the impacts

of the pandemic and related government stimulus programs;

• our ability to successfully manage interest rate risk, credit risk,

liquidity risk, and other risks inherent to our industry; • the accu

racy of our financial statement estimates and assumptions, including the

estimates used for our credit loss reserve and deferred

tax asset valuation allowance; • the efficiency and effectiveness

of our internal control environment; • our ability to comply with the

extensive laws and regulations to which we are subject, including the

laws for each jurisdiction where we operate; • legislative or regulatory

changes and changes in accounting principles, policies, practices

or guidelines, including the effects of the forthcoming implementation

of the Current Expected Credit Losses (“CECL”) standard; •

the effects of our lack of a diversified loan portfolio and concentration

in the South Florida market, including the risks of geographic,

depositor, and industry concentrations, including our concentration

in loans secured by real estate; • the concentration of ownership of our

Class A common stock; • fluctuations in the price of our Class A common

stock; • our ability to fund or access the capital markets at attractive

rates and terms and manage our growth, both organic growth as

well as growth through other means, such as future acquisitions; •

inflation, interest rate, unemployment rate, market, and

monetary fluctuations; • increased competition and its effect

on the pricing of our products and services as well as our margin; •

the effectiveness of our risk management strategies, including operational

risks, including, but not limited to, client, employee, or third

-party fraud and security breaches; and • other risks described

in this presentation and other filings we make with the Securities

and Exchange Commission (“SEC”). All forward-looking statements

are necessarily only estimates of future results, and there

can be no assurance that actual results will not differ materially from expectations.

Therefore, you are cautioned not to place undue reliance

on any forward-looking statements. Further, forward-looking

statements included in this presentation are made only as of the

date hereof, and we undertake no obligation to update or revise any

forward-looking statement to reflect events or circumstances

after the date on which the statement is made or to reflect the occurrence

of

unanticipated events, unless required to do so under the federal securities

laws. You should also review the risk factors described in

the reports USCB Financial Holdings, Inc. filed or will file with the

SEC and, for periods prior to the completion of the bank holding company

reorganization in December 31, 2021, U.S Century Bank filed

with the FDIC. Non-GAAP Financial Measures This presentation

includes financial information determined by methods other than

in accordance with generally accepted accounting principles (“GAAP”).

This financial information includes certain operating performance

measures. Management has included these non-GAAP measures because

it believes these measures may provide useful supplemental information

for evaluating the Company’s underlying performance

trends. Further, management uses these measures in managing and evaluating

the Company’s business and intends to refer to them in discussions

about our operations and performance. Operating performance

measures should be viewed in addition to, and not as an alternative to

or substitute for, measures determined in accordance

with GAAP, and are not necessarily comparable to non-GAAP measures

that may be presented by other companies. To the extent

applicable, reconciliations of these non-GAAP measures to the

most directly comparable GAAP measures can be found in the ‘Non-GAAP

Reconciliation Tables’ included in the presentation. You

should assume that all numbers are unaudited unless otherwise

noted. 2

Q3 2022 Highlights Capital/ Credit Credit metrics remain strong.

There were no loans classified as nonperforming. ACL coverage

ratio was 1.16%. Tangible Book Value per Share is at $8.87, down

$0.13 from prior quarter primarily due to AOCI. Classified

$74.4 million of securities from AFS to HTM to protect

tangible book value in a rising rate environment. No shares repurchased

during the quarter; Board approved repurchase program in place covering

750,000 shares of Class A common stock. Profitability Net income

was $5.6 million or $0.28 per diluted share. ROAA was 1.09%

and ROAE was 11.90%. Efficiency ratio was 54.58%. NIM

was 3.47% and NII was $16.8 million, compared to 3.37% and

$15.6 million in the second quarter 2022. Growth Average

deposits increased by $285.7 million or 19.3% compared to third quarter

2021. Total average loans, excluding PPP loans, increased $113.3

million or 35.2% annualized compared to prior quarter and $321.1

million or 30.0% compared to third quarter 2021. 3

Historical Financial Data Total Loans (1) In millions $735 $1,432

2016 2017 2018 2019 2020 2021 Q1 Q2 Q3 2022 2022 2022

Total Deposits In millions $782 $1,797 2016 2017 2018 2019

2020 2021 Q1 Q2 Q3 2022 2022 2022 Total stockholders'

equity In millions $86 $177 2016 2017 2018 2019 2020

2021 Q1 Q2 Q3 2022 2022 2022 ACL/Total Loans 37% 63% 2016

2017 2018 2019 2020 2021 Q1 Q2 Q3 2022 2022 2022 Net Charge

offs In thousands (1019) 91 2016 2017 2018 2019 2020 2021 Q1 Q2

Q3 2022 2022 2022 Nonperforming Assets/Total Assets

1.58% 0% 2016 2017 2018 2019 2020 2021 Q1 Q2 Q3 2022

2022 2022 Total Revenue In millions $37 $63 2016 2017 2018

2019 2020 2021 Q1 Q2 Q3 2022 2022 2022 Efficiency ratio

94.15% 54.58% 2016 2017 2018 2019 2020 2021 Q1 Q2 Q3 2022

2022 2022 PTPP ROAA (2) 0.24% 1.65% 2016 2017 2018

2019 2020 2021 Q1 Q2 Q3 2022 2022 2022 (1) Loan amounts

include deferred fees/costs. (2) Non-GAAP Financial Measure.

Annualized for 2022 periods. * As of end of period for Balance Sheet amounts.

4

Hurricane Ian Update On September 28, 2022, Hurricane Ian

made landfall in Florida as a category 4 hurricane affecting some areas

of the state with significant flooding, wind damage and power

outages. The Credit Department identified all potential impact zones

and tracked the storms progress. 27 counties throughout the State of

Florida were documented to be in the Hurricane trajectory.

USCB has 94 loans totaling $173 million that were identified within

the storm’s path, inclusive of properties and moored yachts.

Management visited the 3 counties most impacted by the storm

(Lee, Charlotte, and Collier counties) and observed negligible

to no damage to our client’s properties. Yacht owners were

contacted; no damage reported. To date, no loan modifications have

been requested. We continue to assess any potential credit

risk and most importantly we are in direct contact with our customers.

5

Financial Results In thousands (except per share data) Balance

Sheet (EOP) Q3 2022 Q2 2022 Q3 2021 Income Statement Total

Securities Total Loans '?) Total Assets Total Deposits

Total Equity '2) Net Interest Income Non-interest Income Total

Revenue Provision for Credit Losses Non-interest Expense

Net Income Net Income (loss) available to common stockholders Diluted

Earning (loss) Per Share (EPS) (3) Class A Common Stock

Class B Common Stock $427,436 $1,431,513 $2,037,453 $1,796,642

$177,417 $16,774 $1,789 $18,563 $910 $10,132 $5,558 $5,558

$0.28 $0.00 $456,135 $1,372,733 $2,016,086 $1,738,720 $180,068

$15,642 $1,617 $17,259 $705 $9,551 $5,295 $5,295 $0.26 $0.00

$428,037 $1,176,412 $1,755,011 $1,484,589 $201,918 $13,471

$4,217 $17,688 $o $9,007 $6,593 -$83,534 $5.11 -$1.02 (1) Loan amounts

include deferred fees/costs. (2) Total Equity includes unrealized

security losses of $45,201 for Q3 2022, $36,860 for Q2 2022, and unrealized

security gains of $1,184 for Q3 2021. (3) See footnote disclosure

in the Non-GAAP reconciliation table for common stock activity (exchange

of Class B common stock) which impacted diluted EPS for Q3’21.

6

Key Performance Indicators Q3 2022 Q2 2022 Q3 2021 Capital/ Credit

Profitability Growth Tangible Common Equity/Tangible

Assets!) Total Risk-Based Capital NCO/Avg Loans ©! NPA/Assets

Allowance Credit Losses/Loans Return On Average

Assets (ROAA) ) Return On Average Equity (ROAE) Net

Interest Margin ! Efficiency Ratio PTPP ROAA (18) Total Assets

(EOP) Total Loans (EOP) Total Deposits (EOP) Tang

ible Book Value/Share ‘4! 8.71% 13.65% 0.03% 0.00%

1.16% 1.09% 11.90% 3.47% 54.58% 1.65% $2,037,453 $1,431,513

$1,796,642 $8.87 8.93% 11.51% 13.74% 15.10% 0.00%

0.02% 0.00% 0.00% 1.15% 1.27% 1.08% 1.50% 11.38% 13.41% 3.37%

3.19% 55.34% 50.92% 1.57% 1.98% In thousands (except for TBV/share)

$2,016,086 $4,755,011 $1,372,733 $1,176,412 $1,738,720 $1,484,589

$9.00 $10.10 (1) Non-GAAP Financial Measures. See footnote

disclosure in the Non-GAAP reconciliation table for common stock

activity (exchange of Class B common stock) which impacted

Q3’21. (2) The Company was established in Q4 2021. As such, the

capital ratios for Q3 2022 and Q2 2022 are for the Bank Holding

Company while Q3 2021 is for the Bank only. (3) Annualized.

(4) Unrealized security (loss) gain effect on tangible book value

per share was ($2.26) for Q3 2022, ($1.84) for Q2 2022 and $0.06 for

Q2 2022. 7

Loan Portfolio Total Loans (AVG) In millions $1,400 $1,300

$1,200 $1,100 $1,000 $900 $800 $1,144 $1,159 $1,211 $1,296

$1,399 $700 $73 $51 $35 $18 $7 $600 $1,071 $1,108 $1,176 $1,278

$1,392 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Loans

(Exd PPP) PPP Loans Loan Yields 5.00% 4.50% 4.00% 3.50% 3.00%

2.50% 2.00% 1.50% 1.00% 4.29% 4.32% 4.35% 4.35% 4.53% 0.50%

0.32% 0.33% 0.28% 1.30% 0.03% 0.00% 3.97% 3.99% 4.07% 4.22%

4.50% Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Commentary

Total average loans, excluding PPP loans, increased

$113.3 million or 35.4% annualized compared to prior quarter and

$321.1 million or 30.0% compared to third quarter 2021. Loan

coupon increased 28 bps compared to prior quarter and 53 bps

compared to third quarter 2021. Increase due to a higher interest

rate environment. Loan fees decreased 10 bps from prior quarter

primarily due to amortization of premium on yacht loan purchased

in 2021 and subsequently paid off in 2022. Additionally, a decrease

of $312 thousand in PPP loan fees. 8

Loan Production Net Loan Production Trend In millions $180 $160

$140 $120 $100 $80 $60 $40 $20 $117 $88 $119 $106 $141

$74 $169 $56 $130 $71 $0 Q3 2021 Q4 2021 Q1 2022 Q2 2022

Q3 2022 Loan Production/Line changes Loan Amortization/payoffs

Commentary 2022 payoffs slowing with increase in interest rates.

$130 million loan production in Q3 2022 was negatively impacted

by hurricane Ian. Approximately $15MM was delayed as insurance

companies delayed "binding" which is a requirement for loan closing. Average

coupon on new loans is 4.85% for third quarter 2022. 9

Paycheck Protection Program (PPP) 3 successful

rounds of PPP loans, originating $168.4 million. Forgiveness

of the last round of PPP loans is in process. In thousands (except

for ROAA) Q3 2022 Q2 2022 Q3 2021 Pre-Tax Income

$7,521 $7,003 $8,681 Net Income $5,558 $5,295 $6,593 Average

Assets $2,026,791 $1,968,381 $1,741,423 ROAA (1) 1.09% 1.08%

1.50% of which PPP Income (2) $145 $484 $1,071 Unrealized

PPP Fees EOP $19 $149 $2,360 PPP Balance EOP $1,362 $13,507

$57,991 PPP AVG. Balance $6,620 $17,643 $73,215

PPP Loans (1) Annualized. (2) PPP Income includes loan fees

and interest income. 10

Deposit Portfolio Deposits (AVG) In millions $2,000 $1,800 $1,600

$1,400 $1,200 $1,000 $800 $1,477 $1,562 $1,650 $1,717 $1,763

$600 $229 $228 $223 $224 $217 $400 $628 $674 $736 $781 $823

$200 $55 $56 $65 $67 $67 $- $565 $604 $626 $645 $656 Q3

2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Non-interest-bearing

deposits Interest-bearing checking deposits Money amrket and

savings Time deposits Deposit Cost (1) 0.70% 0.60% + 300 bps

0.50% Q3'22 vs Q4'21 0.40% 0.30% 0.20% 0.10% 0.22% 0.21%

0.20% 1.75% 3.25% 0.00% 0.25% 0.25% 5.00% 0.21% 0.34% Q3

2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Deposit Cost Fed Funds

Rate (upper bound) Commentary Average deposits increased

$46.3 million or 10.7% annualized compared to prior quarter and

$285.7 million or 19.3% compared to third quarter 2021. Average

DDA deposits grew $10.9 million or 6.7% annualized compared

to prior quarter and $90.9 million or 16.1% compared to third quarter

2021. DDA balances comprise 38.2% of total deposits at September

30, 2022. Deposit cost increased 13 bps compared to prior quarter

and increased 12 bps compared to third quarter 2021. Deposit cost

lagged the Fed Fund Rate increases with a 4.33% Deposit beta. (1)

Annualized. 11

Net Interest Margin Net Interest Income/Margin (1) In thousands (except

ratios) $18,000 $16,000 $14,000 $12,000 $10,000 $8,000 $6,000

$4,000 3.19% 3.19% 3.22% 337.00% 3.47% $2,000 3.08% 3.06%

3.05% 3.27% 3.45% $0 $13,471 $14,076 $14,379 $15,642 $16,774

Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Net Interest Income

NIM NIM excludign PPP Loans Interest-Earning Assets Mix

(AVG) 100% 90% 80% 70% 60% 50% 40% 30% 6%

5% 5% 4% 4% 20% 24% 28% 28% 26% 23% 10% 5% 3%

2% 1% 0% 0% 65% 64% 65% 69% 73% Q3 2021 Q4 2021 Q1

2022 Q2 2022 Q3 2022 Total Loans (excludign PPP Loans)

PPP Loans Investment Securities Cash Balances & Equivalents Commentary

Net interest income increased by $1.1 million or 28.7% annualized

compared to prior quarter and $3.3 million or 24.5% compared

to third quarter 2021. NIM impacted by an increase in overall interest

rates and growth in loans. NIM of 3.47% up 10 bps from prior quarter

and up 28 bps from third quarter 2021. (1) Annualized. 12

Interest Rate Sensitivity Loan Portfolio Repricing Profile by Rate Type

Hybrid ARM 6% Variable Rate 55% Fixed Rate 39% 16%

16% 68% Prime CMT LIBOR Loan Repricing Schedule Variable/Hybrid

Rate Loans 31% 9% 10% 50% yrs. 1-2 yrs. 2-3 yrs. >3 yrs Static

NII Simulation Year 1 & 2 $4,000 $3,500 $3,000 $2,500 $2,000

$1,500 $1,000 $500 $0 -$500 -$51 -$319 2.6% 4.4% -$1,000 0.1%

0.4% $2,032 $3,411 +100 +200 +100 +200 Net Interest Income

change from base ($ in thousands and % change) As of 9/30/22 13

Non-interest Income Q3 2022 Q2 2022 Q1 2022 Q4 2021 Q3 2021

Service fees $934 $1,083 $900 $961 $856 Gain (loss) on sale of securities

available for sale (558) (3) 21 35 (70) Gain on sale of loans

held for sale 330 22 334 107 532 Gain on sale of other assets - -

• 983 - Loan settlement - - 161 - 2,500 Other income 1,083

515 529 558 399 Total non-interest income $1,789 $1,617 $1,945

$2,644 $4,217 Average total assets $2,026,791 $1,968,381

$1,913,484 $1,828,037 $1,741,423 Non-interest income / Average

assets (1) 0.35% 0.33% 0.41% 0.57% 0.96% Total revenue $18,563

$17,259 $16,324 $16,720 $17,688 Non-interest income as % of

total revenue 9.64% 9.37% 11.91% 15.81% 23.85% Commentary

Service fees remain substantially consistent quarter over quarter.

Loss on sale of securities was offset with a $565K gain on prepayment

of FHLB borrowing in “Other Income”. SBA loan sales produced

$330K of gains. Fluctuation of non-interest income primarily impacted

by one-time items in prior quarters. (1) Annualized. 14

Non-interest Expense In thousands (except ratios and FTE) Q3 2022

Q2 2022 Q1 2022 Q4 2021 Q3 2021 Salaries and employee benefits

$6,075 $5,913 $5,875 $5,634 $5,313 Occupancy 1,281 1,251

1,270 1,267 1,192 Regulatory assessments and fees 269 226 213

93 317 Consulting and legal fees 604 398 517 539 357 Network and

information technology services 488 448 387 268 358 Other operating

expense 1,415 1,315 1,350 1,518 1,470 Total non-interest

expenses $10,132 $9,551 $9,612 $9,319 $9,007 Efficiency ratio

54.58% 55.34% 58.88% 55.74% 50.92% Average total asset

s

$2,026,791 $1,968,381 $1,913,484 $1,828,037 $1,741,423 Non-interest

expense / Average assets (1) 1.98% 1.95% 2.04% 2.02% 2.05%

Full-time equivalent employees 191 192 190 187 184 Commentary

Non-interest expense to average assets remains below 2021 levels.

Salaries and employee benefits increased primarily due to

7 new FTEs (3 lenders, 1 portfolio manager, and 3 support staff)

compared to third quarter 2021. Consulting fees increased due

to one-time expenses for CECL, CRE related studies and tests, and placement

fee for new hires. Higher revenue improved efficiency ratio

to 54.58%. (1) Annualized. 15

Asset Quality Allowance for Credit Losses In thousands (except ratios)

$17,000 $16,000 $15,000 $14,000 1.33% 1.31% 1.22% 1.16%

1.16% $13,000 1.27% 1.27% 1.20% 1.15% 1.16% $12,000 $14,900

$15,057 $15,074 $15,786 $16,604 Q3 2021 Q4 2021 Q1 2022

Q2 2022 Q3 2022 Allowance for credit losses ACL/Total

loans ACL/Total loans excluding PPP loans Commentary ACL

coverage ratio is at 1.16%. No loans classified as non-performing.

No OREO. CECL modeling progressing as planned. Non-performing

Loans In thousands (except ratios) 1,400 1,200 1,000 800 600

400 200 0.00% 0.10% 0.00% 0.00% 0.00% - $18 $1,190 $0

$0 $0 Q3 2021 Q4 2021 Q1 2022 Q2 2022 Q3 2022 Non-accrual

loans less non-accrual TDRs Loans-over 90 days past due and accruing

Non-performing loans to total loans 16

Capital Capital Ratios(1) Leverage Ratio TCE/TA (2) Tier

1 Risk Based Capital Total Risk Based Capital Q3 2022 9.48%

8.71% 12.56% 13.65% Q2 2022 9.43% 8.93% 12.65% 13.74%

Q3 2021 9.69% 11.51% 13.85% 15.10%

Well-

Capitalized 5.00% NA 8.00% 10.00% Commentary All capital ratios remain

significantly above “well capitalized” guidelines. Q3 2022 EOP

shares outstanding: Class A Common Stock: 20,000,753 No

shares repurchased during the quarter; Board approved repurchase

program in place covering 750,000 shares of Class A common stock. (1)

The Company was established in Q4 2021. As such, the capital ratios

for Q3 2022 and Q2 2022 are for the Company while Q3 2021

is for the Bank only. (2) Non-GAAP. 17

Takeaways Leading Franchise Located in one of the Most Attractive

Banking Markets in Florida and the U.S. Experienced and Tested

Management Team Robust Organic Growth Strong Asset

Quality, with Minimal Charge-offs Experienced Since Recapitalization

Strong Profitability, with Pathway For Future Enhancement

Identified Core Funded Deposit Base with 36.9% Non-Interest-Bearing

Deposits (EOP) 18

Non-GAAP Reconciliation In thousands (except ratios) Pre-TaxPre

Provision ("PTPP") Income: Netincome Plus: Provision forincome

taxes Plus: Provision for credit losses PIPP income PIPP Return

on Average Assets: PIPP income S 34st 78 $ 6712 $ 7401 $

S681 Average assets S 2679 $ 196381 $ 191344 $ 198087 $ 1741.03

PIPP retum on average assets'"” 165% 15% 1A% 161% 198% Operating

Net Income: ‘Net income Less: Net gains (losses) on sale of securities

Less: Tax effect on sak of securities Operating net income Operating

PTPP Income: PIPP income S84 S$ 7708 $§ «6712 $141 SRL Less:

Net gains (losses) on sale of securities G3) @ 4 35 oy Operating PIPPIncome

Operating PTPP Return on Average Assets: Operating

PTPPincome S77 S$ 6@1 $7366 S$ 7m Average assets S 196381

$ 191344 $ 10807 $ 1741.03 Operating PTPPRetum on average

assets! 15% LA% 160% 199% Operating Return on Average Assets:

Operating net income S595 $ 527 $ 488 S$ Ses S$ 66m Average

assets S$ 206791 S$ 196381 $ 1913484 $ 198087 $ 171.03 Operating

retum on average assets"? 11% 108% 105% 12% 151% (1)

Ammualized. 19

Non-GAAP Reconciliation In thousands (except per share data)

As of and for the three months ended 30022 ‘63072022 3312022 12302021

9302021 ‘Tangible Book Value per Common Share

(at peried-end):) Total stockholders’ equity s may $ 1006S 192039

S$ 2897S 201918, Less:Intangible assets = e - : Less: Prefered

stocie - - - - ‘Tangible stockholm’ equity s ima § iw00e Ss ima maT

Ss 201518 Total shares issued and onsstan ding (at period-end):

° Chass A common shares 0.000.753 20.000753, 0.000.753 18767541

Cass B common shares - 7 : 1224212 Totalcommon shares

issued and ovtstanding 7201000758 20000735 20,000,753 19.99.73

‘Tangible book valsepercommoa share") s ss 8 300 $ 20S

s 10.10 Operating Net Income Available to Common Stockholders: ©

Net income s 5558S 5295 458s 560 658 Less: Prefemed dividends

a : z as 32 Less: Exchange ané redemption of prefered

shares 2 a 89,585.00 ‘Net incom (loss) avaiable to commons tockholées 485

3) Add back Exchang eand edemption of prefered shares 2 5 5 59.585,

Operating net income avai. to common stock: s s s 48S 5 6051 Allocation

of operating net income per common stock clas Css A conmon

stock s s 5295 $ 455s 560 $ 5538 (Clas B common stock: s mans)

Ey ae Sat 45 Weighted average

shares outstanding Class A common stock Basie 20,000,753 20,000,753,

19.994.953, iss94 1512140 Dilotad 20,148,208 20,171.26 20,10

8,788 19,023,686 15121460 (Class B common stocks Basic . 2

: 2 6121052 Dilotad - : - : 612,052 Diluced EPS:""° Css A conmon

stock Netincome (loss) per diluted share s 02s § 026 $ om $s 0x0

en Add back Exchang eand edamption of prefered shares

a = : = 548 Opening netincome per diluted share s os 036. 1S om 1s 0300S

037 Class B common stocks Net income (oss) per diluted share

s oan Es) a aS a0) Add back Exchanzeand demotion of prefered

shares z 7 = = 109 Operating net incom per éilvted

share = ang Sas ae = 007 (1) The Company believes these non-GAAPmeasurements

are key indicators of the ongoing earnings power of the Company.

(2) During the quarter ended September 30, 2021, 47,473

shares of Class C preferred stock and 11,061,552 shares of

Class D preferred stock were converted into 10,278,072 shares of

Class A common stock. Additionally, the Bank closed on the initial

public offering of ts Class A common stock on July 27, 2021, in

which i issued 4,600,000 shares of Class A common stock As such,

the total shares issued and outstanding of Class A common stock

was 18,767,541 shares at September 30, 2021 (3) Excludes the

dilutive effect, if any, of shares of common stock issuable upon

exercise of outstanding stock options (4) During the quarter

ended September 30, 2021, basic net loss per share is the same as diluted

net loss per share as the inclusion of all potential common shares

outstanding w ould have been antidilutive. (6) During the quarter

ended December 31, 2021, the Corrpany entered into agreements

with the Gass B common shareholders to exchange all outstanding

Class B non-voting common stock for Class A voting common

stock at a ratio of 1 share of Class A common stock for each

5 shares of Class B non-voting common stock. In calculating net income

(loss) per diluted share for the prior quarters presented, the allocation

of operating net income available to common stockholders was

based on the weighted average shares outstanding per common

share class to the total weighted average shares outstanding

during each period. The operating net income allocation w as calculated

using the weighted average shares outstanding of Class B common

stock ‘onan as-converted basis. 20

Contact Information Lou de la Aguilera President, CEO & Director

(305) 715-5186 laguilera@uscentury.com Rob Anderson Chief

Financial Officer (305) 715-5393 rob.anderson@uscentury.com Investor

Relations InvestorRelations@uscentury.com 21