Reported Earnings • Mar 27
Full year 2025 earnings released: EPS: US$0.71 (vs US$0.86 in FY 2024) Full year 2025 results: EPS: US$0.71 (down from US$0.86 in FY 2024). Revenue: US$48.3m (flat on FY 2024). Net income: US$12.3m (down 17% from FY 2024). Profit margin: 25% (down from 30% in FY 2024). Net interest margin (NIM): 4.41% (up from 4.26% in FY 2024). Non-performing loans: 0.63% (down from 1.36% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Reported Earnings • Jan 23
Full year 2025 earnings released: EPS: US$0.71 (vs US$0.86 in FY 2024) Full year 2025 results: EPS: US$0.71 (down from US$0.86 in FY 2024). Revenue: US$48.3m (flat on FY 2024). Net income: US$12.3m (down 17% from FY 2024). Profit margin: 25% (down from 30% in FY 2024). Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 10% per year, which means it is well ahead of earnings. Declared Dividend • Dec 21
Third quarter dividend of US$0.12 announced Dividend of US$0.12 is the same as last year. Ex-date: 26th December 2025 Payment date: 13th January 2026 Dividend yield will be 4.6%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 10% per year over the past 9 years and payments have been stable during that time. Earnings per share has grown by 2.0% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 18
United Security Bancshares Declares Quarterly Cash Dividend, Payable on January 13, 2026 On December 16, 2025, the Board of Directors of United Security Bancshares, declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on January 13, 2026, to shareholders of record as of December 26, 2025. Reported Earnings • Oct 18
Third quarter 2025 earnings released: EPS: US$0.23 (vs US$0.22 in 3Q 2024) Third quarter 2025 results: EPS: US$0.23 (up from US$0.22 in 3Q 2024). Revenue: US$13.1m (up 6.6% from 3Q 2024). Net income: US$4.02m (up 5.1% from 3Q 2024). Profit margin: 31% (in line with 3Q 2024). Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Declared Dividend • Sep 28
Second quarter dividend of US$0.12 announced Dividend of US$0.12 is the same as last year. Ex-date: 3rd October 2025 Payment date: 21st October 2025 Dividend yield will be 5.0%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 12% per year over the past 8 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 18% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.7% EPS decline seen over the last 5 years. Announcement • Sep 25
United Security Bancshares Declares Quarterly Cash Dividend, Payable on October 21, 2025 On September 23, 2025, the Board of Directors of United Security Bancshares declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on October 21, 2025, to shareholders of record as of October 3, 2025. Recent Insider Transactions • Aug 13
Independent Vice Chairman of the Board recently bought US$465k worth of stock On the 7th of August, Jagroop Gill bought around 56k shares on-market at roughly US$8.34 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jagroop's only on-market trade for the last 12 months. Recent Insider Transactions • Aug 10
Independent Vice Chairman of the Board recently bought US$465k worth of stock On the 7th of August, Jagroop Gill bought around 56k shares on-market at roughly US$8.34 per share. This transaction amounted to 4.5% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Jagroop's only on-market trade for the last 12 months. Reported Earnings • Jul 18
Second quarter 2025 earnings released: EPS: US$0.13 (vs US$0.25 in 2Q 2024) Second quarter 2025 results: EPS: US$0.13 (down from US$0.25 in 2Q 2024). Revenue: US$10.8m (down 17% from 2Q 2024). Net income: US$2.17m (down 50% from 2Q 2024). Profit margin: 20% (down from 33% in 2Q 2024). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Declared Dividend • Jun 30
First quarter dividend of US$0.12 announced Dividend of US$0.12 is the same as last year. Ex-date: 7th July 2025 Payment date: 22nd July 2025 Dividend yield will be 5.6%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 12% per year over the past 8 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 31% to shift the payout ratio to a potentially unsustainable range, which is more than the 1.5% EPS decline seen over the last 5 years. Announcement • Jun 26
United Security Bancshares Declares Quarterly Cash Dividend, Payable on July 22, 2025 On June 24, 2025, the Board of Directors of United Security Bancshares declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on July 22, 2025, to shareholders of record as of July 7, 2025. Announcement • Apr 29
United Security Bancshares and United Security Bank Appoints Jay Gill as Vice Chairman of Boards of Directors, Effective April 28, 2025 The Board of Directors of United Security Bancshares (the “Company”), the parent company of United Security Bank (the “Bank”), announced the appointment of Jay Gill as the Vice Chairman of the Company’s and Bank’s Boards of Directors effective immediately. In this new role, Mr. Gill will play a critical role in shaping the Company’s long-term strategy, identifying new business opportunities, and driving continued organic growth across its markets. As Vice Chairman, Mr. Gill will work closely with the executive team and the board of directors to enhance the Bank’s competitive position, strengthen relationships with clients and partners, and explore strategic initiatives that support long-term value creation. Jay Gill is the President and CEO of Gill Automotive Group, which owns and operates 12 automotive dealerships representing 12 different brands in California and Hawaii. In addition, he has agricultural interests in central California and real estate development through his development company, Lifetime Communities. Jay is a graduate of California State University, Fresno, where he received a bachelor’s degree in engineering. Jay currently serves on the boards of directors of Mid-Valley Water, Cen-Cal SBA, Chrysler Minority Dealer Association, and Ford Minority Dealer Association, and is also involved in several technology venture firms and advisory boards in Silicon Valley. Announcement • Apr 01
United Security Bancshares, Annual General Meeting, May 21, 2025 United Security Bancshares, Annual General Meeting, May 21, 2025. Location: 2126 inyo street, california 93721, fresno United States Declared Dividend • Mar 30
Fourth quarter dividend of US$0.12 announced Dividend of US$0.12 is the same as last year. Ex-date: 7th April 2025 Payment date: 22nd April 2025 Dividend yield will be 5.3%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 12% per year over the past 8 years and payments have been stable during that time. Earnings per share has remained steady over the last 5 years. Unless this trend deteriorates, it should provide adequate earnings cover for the dividend. Announcement • Mar 27
United Security Bancshares Declares Quarterly Cash Dividend, Payable on April 22, 2025 On March 25, 2025, the Board of Directors of United Security Bancshares declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on April 22, 2025, to shareholders of record as of April 7, 2025. Reported Earnings • Mar 23
Full year 2024 earnings released: EPS: US$0.86 (vs US$1.16 in FY 2023) Full year 2024 results: EPS: US$0.86 (down from US$1.16 in FY 2023). Revenue: US$48.6m (down 9.0% from FY 2023). Net income: US$14.8m (down 25% from FY 2023). Profit margin: 30% (down from 37% in FY 2023). Net interest margin (NIM): 4.26% (down from 4.29% in FY 2023). Non-performing loans: 1.36% (up from 1.29% in FY 2023). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Reported Earnings • Jan 28
Full year 2024 earnings released: EPS: US$0.86 (vs US$1.16 in FY 2023) Full year 2024 results: EPS: US$0.86 (down from US$1.16 in FY 2023). Revenue: US$48.6m (down 9.0% from FY 2023). Net income: US$14.8m (down 25% from FY 2023). Profit margin: 30% (down from 37% in FY 2023). Over the last 3 years on average, earnings per share has increased by 14% per year but the company’s share price has only increased by 5% per year, which means it is significantly lagging earnings growth. Declared Dividend • Dec 22
Third quarter dividend of US$0.12 announced Dividend of US$0.12 is the same as last year. Ex-date: 2nd January 2025 Payment date: 17th January 2025 Dividend yield will be 4.7%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 12% per year over the past 8 years and payments have been stable during that time. Earnings per share has grown by 1.3% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Dec 19
United Security Bancshares Declares Quarterly Cash Dividend, Payable on January 17, 2025 On December 17, 2024, the Board of Directors of United Security Bancshares declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on January 17, 2025, to shareholders of record as of January 2, 2025. Reported Earnings • Oct 20
Third quarter 2024 earnings released: EPS: US$0.22 (vs US$0.23 in 3Q 2023) Third quarter 2024 results: EPS: US$0.22 (down from US$0.23 in 3Q 2023). Revenue: US$12.3m (up 2.0% from 3Q 2023). Net income: US$3.83m (flat on 3Q 2023). Profit margin: 31% (in line with 3Q 2023). Over the last 3 years on average, earnings per share has increased by 22% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Declared Dividend • Sep 29
Second quarter dividend of US$0.12 announced Dividend of US$0.12 is the same as last year. Ex-date: 7th October 2024 Payment date: 23rd October 2024 Dividend yield will be 5.6%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 2.1% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Jul 25
Independent Director recently bought US$1.1m worth of stock On the 24th of July, Jagroop Gill bought around 140k shares on-market at roughly US$7.96 per share. This transaction amounted to 13% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$1.7m more in shares than they have sold in the last 12 months. Reported Earnings • Jul 19
Second quarter 2024 earnings released: EPS: US$0.25 (vs US$0.26 in 2Q 2023) Second quarter 2024 results: EPS: US$0.25 (down from US$0.26 in 2Q 2023). Revenue: US$13.0m (up 4.8% from 2Q 2023). Net income: US$4.30m (down 2.7% from 2Q 2023). Profit margin: 33% (down from 36% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Declared Dividend • Jul 01
First quarter dividend of US$0.12 announced Dividend of US$0.12 is the same as last year. Ex-date: 8th July 2024 Payment date: 23rd July 2024 Dividend yield will be 6.6%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 3.2% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Jun 27
United Security Bancshares Declares Quarterly Cash Dividend, Payable on July 23, 2024 On June 25, 2024, the Board of Directors of United Security Bancshares declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on July 23, 2024, to shareholders of record as of July 8, 2024. Recent Insider Transactions • Jun 16
Independent Director recently bought US$59k worth of stock On the 11th of June, Jagroop Gill bought around 8k shares on-market at roughly US$7.20 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$502k more in shares than they have sold in the last 12 months. Declared Dividend • Mar 31
Fourth quarter dividend of US$0.12 announced Shareholders will receive a dividend of US$0.12. Ex-date: 5th April 2024 Payment date: 22nd April 2024 Dividend yield will be 6.2%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 13% per year over the past 7 years and payments have been stable during that time. Earnings per share has grown by 6.7% over the last 5 years. Unless this trend reverses, it should provide support to the dividend and adequate earnings cover. Announcement • Mar 28
United Security Bancshares Declares Quarterly Cash Dividend, Payable on April 22, 2024 United Security Bancshares declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on April 22, 2024, to shareholders of record as of April 8, 2024. Announcement • Dec 20
United Security Bancshares Declares Quarterly Cash Dividend, Payable on January 19, 2024 On December 18, 2023, the Board of Directors of United Security Bancshares declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on January 19, 2024, to shareholders of record as of January 3, 2024. Announcement • Nov 17
United Security Bancshares announced delayed 10-Q filing On 11/15/2023, United Security Bancshares announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • Nov 01
Third quarter 2023 earnings released: EPS: US$0.23 (vs US$0.26 in 3Q 2022) Third quarter 2023 results: EPS: US$0.23 (down from US$0.26 in 3Q 2022). Revenue: US$12.0m (down 3.8% from 3Q 2022). Net income: US$3.85m (down 14% from 3Q 2022). Profit margin: 32% (down from 36% in 3Q 2022). The decrease in margin was primarily driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 34% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Oct 02
Now 21% undervalued Over the last 90 days, the stock is up 7.6%. The fair value is estimated to be US$9.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 28%. Announcement • Sep 28
United Security Bancshares Declares Regular Quarterly Cash Dividend, Payable on October 25, 2023 On September 26, 2023, the Board of Directors of United Security Bancshares (the Company) declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on October 25, 2023, to shareholders of record as of October 10, 2023. Recent Insider Transactions • Sep 22
Director recently bought US$241k worth of stock On the 20th of September, Jagroop Gill bought around 35k shares on-market at roughly US$7.00 per share. This transaction amounted to 3.4% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$824k more in shares than they have sold in the last 12 months. Buying Opportunity • Sep 09
Now 20% undervalued Over the last 90 days, the stock is up 8.7%. The fair value is estimated to be US$9.26, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 14% over the last 3 years. Earnings per share has grown by 28%. Announcement • Jul 28
United Security Bancshares Appoints Thomas G. Walker to Board of Directors The Board of Directors of United Security Bancshares announced the appointment of Thomas G. Walker to the Company’s and Bank’s Boards of Directors effective immediately. Thomas Walker is a Principal/Owner of Capital Group Inc. dba Capitalize which is a California-based commercial lending mortgage banking firm where he has been since July 2021. Prior to Capitalize, Mr. Walker was an executive at Housing Capital Company, a division of US Bancorp, for 23 years. Tom graduated from UC Irvine with a B.A. in Economics and a Minor in Management. He is a licensed California real estate broker and has previously served as a member of the board of directors for the Building Industry Association. Reported Earnings • Jul 26
Second quarter 2023 earnings released: EPS: US$0.26 (vs US$0.20 in 2Q 2022) Second quarter 2023 results: EPS: US$0.26 (up from US$0.20 in 2Q 2022). Revenue: US$12.4m (up 19% from 2Q 2022). Net income: US$4.42m (up 29% from 2Q 2022). Profit margin: 36% (up from 33% in 2Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Announcement • Jun 30
Benjamin Mackovak to Retire from the Boards of Directors of United Security Bancshares and United Security Bank On June 26, 2032, Director Benjamin Mackovak notified the Board of Directors of United Security Bancshares (“Company”) and its wholly-owned subsidiary, United Security Bank (the “Bank”), of his decision to retire from the Boards of Directors of the Company and the Bank effective June 27, 2023. Mr. Mackovak’s retirement from the Company and Bank was not a result of any disagreement with the Company or Bank on any matter relating to its operations, policies, or practices. Announcement • Jun 29
United Security Bancshares Declares Quarterly Cash Dividend, Payable on July 24, 2023 On June 27, 2023, the Board of Directors of United Security Bancshares declared a regular quarterly cash dividend of $0.12 per share on the Company’s common stock. The dividend is payable on July 24, 2023, to shareholders of record as of July 10, 2023. Recent Insider Transactions Derivative • Jun 18
Senior VP & Chief Credit Officer exercised options to buy US$127k worth of stock. On the 16th of June, William Yarbenet exercised options to buy 19k shares at a strike price of around US$3.65, costing a total of US$69k. This transaction amounted to 59% of their direct individual holding at the time of the trade. Since December 2022, William's direct individual holding has increased from 29.32k shares to 32.29k. Company insiders have collectively bought US$641k more than they sold, via options and on-market transactions, in the last 12 months. New Risk • Jun 10
New minor risk - Insider selling There has been significant insider selling in the company's shares over the past 3 months. Total value of shares sold: US$66k This is considered a minor risk. There are several reasons why an insider may be selling, including to cover a tax obligation or pay for some other expense. However, we generally consider it a negative if insiders have been selling, especially if they do so below the current price. It implies that they considered a lower price to be reasonable. This is a weak signal, but if there is a pattern of unexplained selling, it can be a sign the insider believes the company's stock is overpriced. Note: We only include open market transactions and private dispositions of directly owned stock by individuals, not by corporations or trusts. Currently, the following risks have been identified for the company: Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Significant insider selling over the past 3 months (US$66k sold). Announcement • Jun 09
United Security Bancshares and United Security Bank Appoints Jay Gill as Member of their Respective Boards The Board of Directors of United Security Bancshares, the parent company of United Security Bank (the “Bank”) announced the appointment of Jay Gill to the Company’s and Bank’s Boards of Directors effective June 7, 2023. Jay is a successful business owner, is actively involved in local community, and will serve as an excellent resource for both the Board and management of the Company. Jay has already demonstrated his confidence in and commitment to vision and mission by accumulating over 1 million shares of the Company’s common stock. Jay Gill is the President and CEO of Gill Automotive Group. In addition, he has agricultural interests in central California. Jay is a graduate of California State University, Fresno where he received a bachelor’s degree in engineering. Jay currently serves on the boards of directors of Mid-Valley Water, Cen-Cal SBA, Chrysler Minority Dealer Association, and Ford Minority Dealer Association. Recent Insider Transactions • Jun 09
Senior VP & Chief Credit Officer recently sold US$66k worth of stock On the 7th of June, William Yarbenet sold around 10k shares on-market at roughly US$6.57 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Despite this recent sale, insiders have collectively bought US$42k more than they sold in the last 12 months. Recent Insider Transactions Derivative • Jun 05
Senior VP & Chief Credit Officer notifies of intention to sell stock William Yarbenet intends to sell 10k shares in the next 90 days after lodging an Intent To Sell Form on the 2nd of June. If the sale is conducted around the recent share price of US$6.30, it would amount to US$63k. Since December 2022, William's direct individual holding has increased from 29.32k shares to 42.29k. Company insiders have collectively bought US$127k more than they sold, via options and on-market transactions, in the last 12 months. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: US$0.92 (vs US$0.59 in FY 2021) Full year 2022 results: EPS: US$0.92 (up from US$0.59 in FY 2021). Revenue: US$46.1m (up 25% from FY 2021). Net income: US$15.7m (up 55% from FY 2021). Profit margin: 34% (up from 27% in FY 2021). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.69% (up from 3.16% in FY 2021). Non-performing loans: 1.52% (up from 1.39% in FY 2021). Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 8% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Mar 13
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$6.47, the stock trades at a trailing P/E ratio of 7x. Average trailing P/E is 9x in the Banks industry in the US. Total returns to shareholders of 49% over the past three years. Announcement • Jan 28
United Security Bancshares Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2022 United Security Bancshares reported net charge-offs for the fourth quarter ended December 31, 2022. For the quarter, net charge-offs totaled $465,000 for the quarter ended December 31, 2022, compared to net charge-offs of $265,000 for the quarter ended December 31, 2021. Reported Earnings • Jan 27
Full year 2022 earnings released: EPS: US$0.92 (vs US$0.59 in FY 2021) Full year 2022 results: EPS: US$0.92 (up from US$0.59 in FY 2021). Revenue: US$46.1m (up 25% from FY 2021). Net income: US$15.7m (up 55% from FY 2021). Profit margin: 34% (up from 27% in FY 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Upcoming Dividend • Dec 27
Upcoming dividend of US$0.11 per share Eligible shareholders must have bought the stock before 03 January 2023. Payment date: 19 January 2023. Payout ratio is a comfortable 55% and this is well supported by cash flows. Trailing yield: 6.2%. Within top quartile of American dividend payers (4.5%). Higher than average of industry peers (3.2%). Reported Earnings • Oct 22
Third quarter 2022 earnings released: EPS: US$0.26 (vs US$0.15 in 3Q 2021) Third quarter 2022 results: EPS: US$0.26 (up from US$0.15 in 3Q 2021). Revenue: US$12.5m (up 28% from 3Q 2021). Net income: US$4.47m (up 71% from 3Q 2021). Profit margin: 36% (up from 27% in 3Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 10% per year whereas the company’s share price has fallen by 12% per year. Reported Earnings • Jul 22
Second quarter 2022 earnings released: EPS: US$0.20 (vs US$0.16 in 2Q 2021) Second quarter 2022 results: EPS: US$0.20 (up from US$0.16 in 2Q 2021). Revenue: US$10.4m (up 11% from 2Q 2021). Net income: US$3.44m (up 27% from 2Q 2021). Profit margin: 33% (up from 29% in 2Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Reported Earnings • May 09
First quarter 2022 earnings released: EPS: US$0.14 (vs US$0.083 in 1Q 2021) First quarter 2022 results: EPS: US$0.14 (up from US$0.083 in 1Q 2021). Revenue: US$9.23m (up 23% from 1Q 2021). Net income: US$2.44m (up 73% from 1Q 2021). Profit margin: 27% (up from 19% in 1Q 2021). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 22% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Upcoming Dividend • Mar 29
Upcoming dividend of US$0.11 per share Eligible shareholders must have bought the stock before 05 April 2022. Payment date: 18 April 2022. Payout ratio is a comfortable 74% and this is well supported by cash flows. Trailing yield: 5.3%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.7%). Reported Earnings • Mar 12
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.59 (up from US$0.53 in FY 2020). Revenue: US$36.9m (up 7.4% from FY 2020). Net income: US$10.1m (up 13% from FY 2020). Profit margin: 27% (up from 26% in FY 2020). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.16% (down from 3.34% in FY 2020). Non-performing loans: 1.39% (down from 1.91% in FY 2020). Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Reported Earnings • Jan 29
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: US$0.59 (up from US$0.53 in FY 2020). Revenue: US$36.9m (up 7.8% from FY 2020). Net income: US$10.1m (up 13% from FY 2020). Profit margin: 27% (up from 26% in FY 2020). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 23% per year but the company’s share price has only fallen by 7% per year, which means it has not declined as severely as earnings. Recent Insider Transactions • Jan 25
Independent Director recently bought US$98k worth of stock On the 21st of January, Kenneth Newby bought around 12k shares on-market at roughly US$8.15 per share. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought US$188k more in shares than they have sold in the last 12 months. Upcoming Dividend • Dec 24
Upcoming dividend of US$0.11 per share Eligible shareholders must have bought the stock before 31 December 2021. Payment date: 18 January 2022. Payout ratio is on the higher end at 86%, however this is supported by cash flows. Trailing yield: 5.5%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (2.3%).