Operator: Good day, and welcome to the USCB Financial Holdings Q3 2026 Earnings Conference call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad, and to withdraw your question, please press star then two. Please note today's 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: Good morning, everyone, and thank you for joining us today to review USCB Financial Holdings' Q3 2026 results. Joining me on the call today are Chief Financial Officer Rob Anderson and Chief Credit Officer Sergio Garrido, who will provide additional detail on the company's performance, beginning with the highlights summarized on slide three. I am pleased to report another strong quarter for USCB Financial Holdings. We delivered record quarterly earnings and continue to build on the momentum we have established over the past several years. Even more importantly, through the first nine months of 2026, we have generated approximately $28 million in net income, already surpassing the full-year earnings reported in any year since our IPO.
Luis de la Aguilera: We also delivered a 16.03% return on average equity and a 1.27% return on average assets, reflecting the strength of our franchise, the resilience of our markets, and the disciplined execution of our team. Just as importantly, these results were achieved while maintaining a strong risk profile. Credit quality remained sound with negligible charge-offs during the quarter, an allowance for credit losses of 1.16% of loans, and non-performing assets representing only 0.26% of total assets. Conservative risk management and disciplined underwriting continue to be the hallmarks of the USCB franchise. We also continue to benefit from a diversified, relationship-driven business model. Our specialized banking verticals, including association banking, Private Client Group, and correspondent banking, now generate approximately 30% of our deposits and provide a valuable source of stable, relationship-based funding.
Luis de la Aguilera: On the lending side, our portfolio remains well-diversified across commercial real estate, residential real estate, commercial and industrial lending, correspondent banking, and specialty lending businesses, helping us manage risk while supporting consistent growth. While the summer months are typically slower period for USCB, we remain focused on executing our strategy, strengthening client relationships, and investing in future growth. This month, we expanded our deposit gathering capabilities with the addition of a seasoned team of four deposit-focused bankers from a national competitor who collectively managed more than $700 million in deposits. Strategic talent acquisitions such as these remain an important component for our long-term growth strategy, and we continue to be successful in attracting high-performing banking professionals. This team will be based in our Hollywood and Aventura banking centers, further strengthening our presence in Broward County and supporting future growth opportunities throughout South Florida.
Luis de la Aguilera: Earlier this year, we also launched a fourth commercial banking production team headquartered in our Doral Banking Center. To support this expansion, we have already added two experienced commercial lenders and a portfolio manager, with additional positions expected to be filled during Q4. The Doral Medley Hialeah corridor represents one of South Florida's most vibrant concentrations of small businesses, industrial enterprises, and commercial activity. We believe this market represents significant opportunities for commercial lending, treasury management services, owner-occupied real estate financing, and business deposit growth. This team will also serve as a catalyst for expanding our SBA lending activities. Additional business development personnel are being added to support these efforts, while SBA training initiatives are being implemented throughout our production platform to further enhance our ability to serve small business customers.
Luis de la Aguilera: Growing deposits, further diversifying our loan portfolio, and expanding non-interest income opportunities, including SBA loan sales and treasury management revenues, remain key strategic priorities for USCB. I'd like now to spend a moment on slide four, which is largely self-explanatory. These nine historical trends tell an important story about USCB's transformation and performance since recapitalization. They reflect the steady and reliable progress we have made in growing the franchise, increasing profitability, strengthening capital, and improving operational efficiency, and maintaining disciplined credit performance. What I find most meaningful about these trends is that they demonstrate consistency. Our results are not the product of a single quarter or a favorable market cycle. Rather, they reflect years of disciplined execution, prudent balance sheet management, sound underwriting, and a long-term commitment in building shareholder value.
Luis de la Aguilera: As you look across these charts, you'll see a business that has consistently grown deposits, loans, earnings, and capital while maintaining strong credit quality and a conservative risk profile. Since our recapitalization, we have successfully navigated multiple economic cycles, periods of rising and falling interest rates, the pandemic, inflationary pressures, and significant changes across the banking industry. Through each of these environments, our focus has remained unchanged building a stronger franchise, serving our clients exceptionally well, managing risk conservatively, and creating long-term value for our shareholders. The discipline is reflected throughout these historical trends. Sustainable, profitable performance anchored by sound and conservative risk management is what our management team is focused on delivering year after year. We believe that consistency is one of the defining characteristics of the USCB franchise and one of the primary reasons we remain well-positioned for continued growth and success.
Luis de la Aguilera: With that perspective, I will turn the call over to Rob Anderson, who will walk us through our Q3 results and discuss the drivers behind another record earnings quarter for USCB. Rob?
Rob Anderson: Thank you, Luis, and good morning, everyone. Q3 produced record earnings for Team USCB. We delivered the highest quarterly net income since our IPO, held on to the step-up in net interest income we achieved in Q2, and did it while investing in people and technology, which will strengthen our franchise going forward. Highlights include net income was $9.5 million, or $0.51 per diluted share, up from $0.49 last quarter and up 13.3% over the prior year. Net interest income was $24.3 million, essentially in line with our strong Q2 and up $3 million, or 14.2% year-over-year. A clear reflection of the earnings power of a larger balance sheet. Average loans grew 8.8% annualized over the prior year and 10% year-over-year, consistent with our guidance despite the typical summer slowdown.
Rob Anderson: Return on average equity improved to 16.03%, and return on average assets was 1.27%. The NIM was 3.37%, still 23 basis points higher than a year ago, and importantly, the margin exited the quarter at 3.41% in September. I will walk through the drivers on page 11. Credit remains sound with a very small charge-off of $23,000 and provision of $53,000. As we indicated last quarter, the tax line moderated with some changes in our deferred tax asset. The efficiency ratio was 54.62%, reflecting deliberate investment in talent, including front office sales professionals, and tangible book value per share was $12.42, up 7.5% year-over-year. The quarterly change reflects the rate-driven mark on our securities portfolio. Average deposits for the quarter totaled $2.5 billion, up $22.3 million or 3.6% annualized over Q2, and average DDA balances are up $40.7 million or 7.2% year-over-year.
Rob Anderson: On pricing, I am pleased with the discipline of our team. The total deposit cost was 2.19%, 34 basis points lower than a year ago, and the cost of interest-bearing deposits held flat at 2.90%. Even as market rates move higher in September, the modest three basis point uptick in total deposit cost was simply mix. As some DDA balances moved into interest-bearing accounts, not a change in our pricing. On an end-of-period basis, deposits are up $101 million or 4.3% since year-end. Quarter-end balances absorb seasonal outflow of approximately $54 million in public funds, which we expect to return later this year. Excluding public funds, deposits grew approximately $48 million in the quarter. Core deposit growth remains our number one priority, and we are investing behind it. We have added dedicated deposit-focused relationship bankers who are already building strong pipelines.
Rob Anderson: We have also given our officers greater pricing flexibility to win new operating relationships. Any new loan pricing exception now carries a higher deposit commitment. Together, these steps position us to grow stable, relationship-based funding, the most valuable part of our franchise in a higher rate environment. With that, let's move on to the loan book. On an average basis, loans increased $50 million or 8.8% annualized over the prior quarter and $210 million or 10% year-over-year, right within the high single digit to low double-digit range we have communicated to you. At quarter end, loans stood at $2.3 billion, up $191 million or 9% from a year ago, as new fundings of $156 million fully replaced payoffs and amortization during the quarter. Loan yield was 6.11% compared to 6.2% last quarter.
Rob Anderson: That change was driven by lower loan fee income, largely the accelerated amortization of premiums and fees on loans that paid off a timing item, not a pricing issue. The underlying book continues to reprice higher. Older fixed-rate vintages are resetting at today's rates. As you'll see on the next page, the coupon on new production is moving up. Turning to the production slide, new loan production was $156 million, up 18% from Q3 of last year, a solid result for what has historically been our slowest season. Year to date, we have originated $616 million in new loans, which speaks to the depth of demand in our South Florida markets. Just as important is the quality of that production.
Rob Anderson: The weighted average coupon on new loans rose 12 basis points to 6.02%, and excluding correspondent banking, new loans came on at 6.29%, about 18 basis points above our portfolio yield. As a reminder, our correspondent banking loans are typically 180-day notes tied to SOFR, so they reprice quickly, a natural benefit with short-term rates moving higher while also bringing full relationship, low-cost deposits, and wire activity. Payoffs and amortization were $155 million, consistent with the elevated prepayment activity we have seen throughout 2026. Payoffs are a normal feature of a healthy, well-performing book and our embedded prepayment penalties protect yield and earnings, contributing to over $600,000 year to date. Let's move on to the margin. Turning to the margin, net interest income was $24.3 million, holding near the record level we reached in Q2 and up $3 million or 14.2% year-over-year.
Rob Anderson: The NIM was 3.37% compared to 3.49% last quarter. Using the waterfall on the page, more than half of that change, seven basis points, came from lower loan fee income tied to payoff activity. A shift in funding mix toward interest-bearing deposits and borrowings accounted for three basis points and lower income on other earning assets for the two basis points. On a year-over-year basis, the margin is still 23 basis points higher from 314, and September came in at 341, so we are entering Q4 with good momentum. Now a word on the rate environment because it has shifted. Market rates moved higher in September, and the forward curve suggests that we may stay elevated for some time.
Rob Anderson: As we have discussed on prior calls, our balance sheet is modestly liability sensitive in the near term, so higher short-term rates put some pressure on funding costs, but we have several levers working in our favor. First, about 64% of our loan book is variable or hybrid rate, and new and renewing loans are coming on at higher coupons. Specifically in Q4, we have $610 million of loans that are repricing tied to SOFR or Prime at a weighted average yield of 6.37%. These loans would reprice with any rate increase. Additionally, we have $106 million maturing, predominantly short-term correspondent loans which typically renew and currently have a weighted average yield of 5.8%, and given the current rate environment, these would also reprice higher.
Rob Anderson: We put excess cash to work during the quarter, buying approximately $33 million of investment-grade corporate bonds at 5.23%, about 190 basis points above the existing portfolio yield. Additionally, our interest rate caps, which we put on last year, are designed to protect the balance sheet if rates continue to rise at a fast pace. The $100 million notional caps will be in the money if SOFR hits 450. Most importantly, the return of public funds and new relationship deposit is generated by our new deposit team should allow us to pay down higher-cost wholesale borrowings in the fourth quarter. Putting that together, we believe we can hold or improve the NIM for the fourth quarter, and we guide to the 340 range, broadly consistent with our September exit rate. With that, let me pass it over to Sergio to discuss asset quality.
Sergio Garrido: Thank you, Rob. Turning to asset quality. Non-performing loans increased to $7.7 million or 33 basis points of total loans, compared with $2.1 million or 9 basis points at the end of the prior quarter. The increase was primarily driven by one loan, which we continue to monitor and manage closely. Classified loans increased to 44 basis points of total loans from 20 basis points at 30 June. Despite the increase in metrics, loss experiences remain limited, with net charge-offs only of $23,000 for the quarter. The allowance for credit losses increased by $317,000 to approximately $27 million.
Sergio Garrido: Representing 1.16% of total loans, compared with 1.15% in prior quarter, and generally consistent with historical levels. Overall, the increase in non-performing and classified loans was concentrated while charge-off activity remained minimal and allowance coverage remained stable. We continue to maintain disciplined underwriting, active portfolio monitoring, and a conservative approach to credit risk management. Now let me turn it back over to Rob.
Rob Anderson: Thank you, Sergio. Non-interest income was $2.7 million for the quarter, and candidly, that is below where we want it to be. The softness was in our more transactional fee lines. With yields elevated, client appetite for swaps slowed considerably, and SBA gain-on-sale activity was lighter than planned. The core of our fee businesses, however, remains solid. Wire fees, our largest recurring category, increased to $645,000, supported by our correspondent banking relationships, and our other recurring service fees continue to provide a stable base. Year-to-date non-interest income represents 12.8% of total revenue. Rebuilding the fee income is a priority, and over time, we would expect non-interest income to move back towards $3.5 million per quarter. That said, the pace of that recovery will depend largely on SBA and swap activity, which is driven by client demand and rate environment, so we are being measured in that outlook.
Rob Anderson: Let's take a look at expenses. Total non-interest expense was $14.7 million. The increase from last quarter was primarily in salaries, benefits, and that is by design. Full-time headcount grew to 222 from 216, including additional sales staff along with merit increases, performance-based incentives that are aligned with our record earnings. We also continue to invest in our technology infrastructure to support a safe and sound franchise. Efficiency ratio was 54.62%, and a big portion of that increase is revenue-driven, not necessarily the increase in expenses. Importantly, relative to the size of our balance sheet, expenses remain well-controlled. Non-interest expense to average assets was 1.97%, consistent with the 1.93% to 1.97% range of the last three quarters.
Rob Anderson: For the Q4, I would model expenses at approximately $15 million or slightly higher, reflecting a full quarter of our recent hires, the deposit team we just lifted in October, and performance-based incentives. Expense management has always been a cornerstone of team USCB. We remain focused on making opportunistic investments in talented people as they become available. These investments may periodically increase expenses, but our track record demonstrates that over time, USCB operates efficiently while supporting its long-term growth objectives. With that, let me touch on capital. Regulatory capital strengthened across the board this quarter as earnings retention outpaced balance sheet growth. Total risk-based capital at the company increased to 14.07% from 13.88%, comfortably above well-capitalized thresholds. on 19 October, our board declared a quarterly cash dividend of $0.125 per share, payable 4 December to shareholders of record as of 16 November 2026.
Rob Anderson: AOCI was negative $43.3 million compared to negative $31.4 million on 30 June. That move is entirely a function of higher market rates in our AFS portfolio, so it accretes back over time as the securities pay down and mature. The silver lining is that the same higher rates let us invest portfolio cash flows at better yields, which supports earnings going forward. With tangible book value per share up 7.5% year-over-year to $12.42 and a 16% return on equity, we continue to generate capital at a strong pace while preserving flexibility to support balance sheet growth. With that, let me turn it back to Luis for some closing comments.
Luis de la Aguilera: Thank you, Rob. As you have heard today, the quarter was highlighted by record earnings, continued profitability, strong capital generation, sound asset quality, and strategic investments that we believe position USCB for continued growth. While we remain mindful of the evolving interest rate and economic environment, we are encouraged by the momentum we are seeing across our franchise and remain confident in our long-term strategy. At this point, we would be pleased to answer any questions. Operator, please open the line for questions.
Operator: Yes, sir. We will now begin the question and answer session. To ask a question, you may press star then one on your telephone pad. If you are using a speakerphone, we ask that you please pick up your handset before pressing the keys. If at any time your question has been addressed, you would like to withdraw your question, please press star then two. Today's first question comes from Hannah Nguyen at KBW. Please go ahead.
Hannah Wynn: Hi. Good morning, guys.
Luis de la Aguilera: Good morning, Hannah.
Rob Anderson: Good morning, Hannah.
Hannah Wynn: I wanted to start on the margin. Really appreciated all of the color that you gave on the details in your prepared remarks. You noted that your lower NIM was driven a lot by those lower net loan fees. I was wondering if you could talk about the underlying trends in the loan yields, excluding those fees, and where you would expect those loan yields to go from here.
Rob Anderson: Yeah. Thank you, Hannah. As I mentioned, typically, the production in Q3 has been seasonal for us. Even so, the new loan production came on, absent the correspondent banking loans, I will touch on that in the second section, came on at 6.29%. So that is above the portfolio yield. We do have a little over $100 million in correspondent banking loans. These are very short-term notes, typically 180 days, and they are tied to SOFR. If we get rate increases, which we did in September, we will get the full impact in Q4 of those and any future rate increases that would impact that book fairly quickly. Additionally, as mentioned in the commentary, we have about $610 million of loans that are repricing. Those are tied to SOFR Prime, and those are at a weighted average yield of 6.37.
Rob Anderson: All of those loans will reprice if we have any future rate increase, and we will see the full quarter's impact with the past increase that we just had. While the NIM in September came out at 3.41%, which gives us a good start into the quarter, our game plan is to cautiously look at our deposit costs for full relationships, slow walk those increases, and get the impact of the loans near term. So we are going to guide to the 3.40% level on the margin. We would like to see some upside since we came in at the lower end of our range this past quarter.
Hannah Wynn: Great. That's all really helpful. Then another question on loan growth. I know you saw elevated payoff this quarter. Just curious how you're seeing the pipeline going into Q4 and where you're expecting loan growth to come in for the full year and into 2027.
Luis de la Aguilera: The pipeline, Hannah, and this is Luis. Rob and I and Sergio sit on the ongoing pipeline calls on a weekly basis, actually twice a week. So we're very involved with what's happening and have a good feel for it. But the pipeline going into Q4 is about as strong as it's been for the year. Historically, the Q3, the summer months tend to be a little slow, and it pretty much was in line with what we did in the Q3 of last year. But I believe our loan production is going to be steady and stronger than in the Q3. Going into Q4, it's building and it's pretty diversified, so we're very happy. The new additions that have joined the bank, both on the loan production side and on the depository side are also going to be additive to those efforts.
Rob Anderson: Yeah, maybe just to pick up on that, Hannah, on the loan growth. We'd still guide to the high single to low double-digit growth. Maybe near term, maybe on the lower end of that guidance. But certainly, as you get into 2027, we're being cautious outside what's happening macroeconomic-wise. We'll stick to our high single to low double-digit growth, which we have executed on fairly consistently over the past few years.
Hannah Wynn: That's great to hear. Really appreciate the color there, guys. Thanks for taking my questions. I'll step back.
Rob Anderson: Thank you, Hannah.
Operator: Thank you. Our next question today comes from Feddie Strickland at Hovde Group. Please go ahead.
Feddie Strickland: Hey, good morning. Just wanted to follow up on that last point on the payoffs in particular. I know they've stepped down some this quarter. I do not know whether that was planned amortization or just early payoffs, but does a lower amount of payoffs factor into your future assumptions here, just given higher rates tend to produce payoffs?
Rob Anderson: On the payoffs, if you looked at page 10, you can see both the new production. The amortization in Q2 is around $189 million, and this quarter was $155 million. We typically do have, in Q2, a little bit more payoff activity in the correspondent book, which again is 180-day notes. We did see some of that activity this quarter as well. But right now we have over $100 million maturing in Q4. Again, a good chunk of that is on correspondent. Outside of that, we could have some payoffs in the yacht activity. We have mentioned that book moves pretty fast. We have seen some of that activity. Then also in the resi book as well. That probably was the elevated payoffs that we anticipated. But we would anticipate payoffs being at this level probably in Q4 as well.
Rob Anderson: Last year was $137 million in Q4. We are anticipating a similar amount in Q4 as we did this quarter.
Feddie Strickland: Got it. Thanks, Rob. Just wanted to move over to the margin. Just as we think through hikes in 2027, could we see a scenario where, let's say we get some hikes late 2026, early 2027, the margin maybe faces a little bit of pressure initially on the funding side, but then as the asset side reprices, assuming we do not get hikes in the back half of the year, the margin maybe comes back up. Is that the right way to think about how we could see the margins play out next year?
Rob Anderson: Yeah, I think that is right, Stephen. I think near term we could see a little pressurization, but we profile slightly liability sensitive to neutral. Again, I gave some color on the variable loan book. We have over $600 million that is going to reprice this quarter. Our game plan is to, one, put the new deposit team to work. As they bring on relationship deposits, we are going to pay down some of the expensive wholesale funding that we have on our books this quarter. I think we have over $120 million at quarter end. We could pay that off. That should be helpful as well. Certainly with any rate increases, I think we are well-balanced from a balance sheet perspective as neutral. We will also slow walk any type of non-relationship funding and really work on our deposit book to fuel the NIM.
Rob Anderson: I would still guide to the 3.40% level. We will see how that shakes out in Q4. I think any rate increases, we are positioned well for rate movement either way.
Feddie Strickland: Got it. Just one last one real quick, if I could, on expenses. Appreciate the guide for Q4, understand the puts and takes there on salary and comp, and you guys are making new hires. With that in mind, how should we think about the growth rate for 2027? Does it step down from kind of the low double digits we saw in 2026? It is kind of implied by that, or is it high single digits? What should we think about in terms of expense growth for next year?
Rob Anderson: Yeah, I would say mid to high single digits would be reasonable in terms of an expense growth. The way we look at expenses is that we will look at opportunistic hires, which we just filled in Q4. That may elevate the expenses from quarter to quarter. But over a longer period of time, we are still managing to the low 50s. Last quarter, we dipped down below 50% on the efficiency ratio. If you look at it from on an expense to average assets on a balance sheet on the assets we are putting it on, we are below the 2% benchmark. Typically, I think that performs well when you compare us to peers. Anything below 2% is typically a very efficient bank, and that is part of our cornerstone of our profitability profile.
Rob Anderson: From time to time, it may spike with some hires, but overall, I would still guide to the low 50s and an expense ratio below 2% on assets.
Feddie Strickland: Perfect. That is all I had. Thanks for the color, Rob. I will step back.
Rob Anderson: Thanks, Pitt.
Operator: Thank you. As a reminder to ask a question, please press star then 1. Our next question today comes from Stephen Scouten at Piper Sandler. Please go ahead.
Stephen Scouten: Hey, good morning, everyone. Appreciate it. I really just have one question, then I can step back. Obviously, on this side of our world, we get a little myopic in the quarter-over-quarter versus the year-over-year. I think, Luis, you pointed out the year-over-year still looks really encouraging. It is a nice trend line. What do you think we misinterpreted maybe in terms of expectations from last quarter or what might have worsened but led to slightly worse quarter-over-quarter performance? Obviously, the stock is responding as it is. I just kind of wanted to understand that a little bit more about where the disconnect was potentially.
Rob Anderson: Yeah, maybe I will take that one, Stephen. I think a couple of things stood out for us this quarter. Certainly, the elevated payoffs. We came off Q2 with a very strong loan growth. It was well above the higher end of that range in this quarter. Obviously, a little disappointing. But we tried to telegraph that Q3 is typically seasonal. So that would be one point. On the non-interest income, certainly I mentioned that we are a little bit disappointed in that activity, but it is really some transactional pieces. In a higher rate environment or where there is rising rates, the swap activity will be more challenging. In fact, in Q1 of this year when we had rates going down, we booked $1.4 million in swap activity. The Q2 and Q3, we booked nearly negligible dollar amounts.
Rob Anderson: With a rising rate environment, I think we're going to be challenged on swaps. We need better execution on the SBA. That was disappointing, but that's episodic. We do have a number in the pipeline, so we expect the Q4 fee income to be a little stronger. Expenses ticked up a little bit, but again, we're going to invest when we have opportunistic hires. We did that in the Q3. That was probably a miss as well. Certainly on the provision, that was flat because we basically had no loan growth quarter-over-quarter. Certainly you guys modeled probably a strong quarter on the backs of our record Q2. But the Q3 was a little sluggish on balance sheet growth, but we still produced good returns in terms of profitability.
Rob Anderson: I'd say over the longer term, if you march it out, we're still within the guidance that we provide. It's just not always going to be quarter-over-quarter. So we'll have to moderate our comments to you when we have a record one so you don't get too hot on the next quarter out. But I'd probably characterize that as part of the disconnect, Stephen.
Stephen Scouten: Thank you. Appreciate all that color. Thank you.
Operator: Thank you. That does conclude our question and answer session for today. I'd like to turn the conference back over to the management team for any closing remarks.
Luis de la Aguilera: Thank you, operator, and thanks to everyone who joined us today. As we conclude the call, I want to reiterate how pleased we are with the continued progress of the organization. The Q3 reflects more than simply another strong financial performance. It demonstrates the strength of the strategy, the dedication of the employees, and the value of the relationships we built with our clients throughout South Florida. We enter the Q4 with healthy business pipelines, strong capital levels, excellent credit quality, and a clear focus on continued execution. We are especially encouraged by the opportunities ahead as our newly added deposit production team begins to contribute to growth across Broward County and surrounding markets. These bankers bring proven relationship-building capabilities and meaningful deposit gathering experience that we believe will support our growth objectives for years to come.
Luis de la Aguilera: We are equally enthusiastic about the continued build-out of our Doral-based commercial banking team. The Doral, Medley, and Hialeah corridor remains one of the most economically vibrant businesses market in South Florida, and we believe our investments in experienced lenders, SBA capabilities, treasury management services, and business development resources positions us exceptionally well to capitalize on these opportunities. Beyond growth, we remain focused on further diversifying our balance sheet, expanding non-interest income sources, deepening client relationships, and continuing to deliver consistent value to our shareholders. On the fifth anniversary of our IPO, we are proud of what the team has accomplished. Since becoming a public company in 2021, USCB has grown significantly in assets, loans, deposits, earnings, and shareholder value while maintaining the disciplined credit culture and conservative risk management principles that have defined the organization.
Luis de la Aguilera: Looking ahead, we remain optimistic about both South Florida economy and the opportunities available to USCB. Our markets continue to benefit from business investments, population growth, entrepreneurial activity, and long-term economic expansion. Combined with the strength of our franchise, talent of our team, we believe these factors position us well for continued profitable growth. On behalf of our board of directors, the management team, I would like to thank our employees, customers, and shareholders for their continued support and confidence in USCB. Thank you for joining us today, and we look forward to updating you on our continued progress next quarter. With that, we wish you all a great day.
Operator: Thank you, sir. That concludes today's conference call. We thank you all for attending today's presentation. You may now disconnect your lines and have a wonderful day.
