USCB FINANCIAL HOLDINGS, INC.USCB

USCB FINANCIAL HOLDINGS, INC. Income Taxes Disclosure

10-KFiled Mar 13, 20263 min read
6.
INCOME TAXES
The Company’s pre-tax
income and provision
for income taxes
is presented in
the following table
for the years
ended
December 31, 2025 and 2024 (in thousands):
The actual income
tax expense for the
years ended December 31, 2025
and 2024 differs from
the statutory tax expense
for the year (computed by applying the U.S. federal
corporate tax rate of
21
% for 2025 and
21
% for 2024 to income before
provision for income taxes) as follows (in thousands):
The following table presents
the deferred tax assets
and deferred tax liabilities
as of December 31, 2025
and 2024 (in
thousands):
At December 31, 2025,
the Company had
approximately $
23.9
million of State
net operating loss carryforwards
expiring
in
various
amounts
from
2032
to
2036.
If
unused
after
2036,
their
utilization
is
limited
to
future
taxable
earnings
of
the
Company.
In assessing the
realizability of deferred
tax assets, management considered
whether it is
more likely than
not that some
portion or
all of
the deferred
tax assets
will not
be realized.
The ultimate
realization
of deferred
tax assets
is dependent
upon the generation of
future taxable income
during the periods
in which those temporary
differences become deductible.
Management considers the scheduled reversal
of deferred tax liabilities, projected future taxable
income, and tax planning
strategies in making this assessment.
The U.S.
Federal jurisdiction
and Florida
are the
major tax
jurisdictions where
the Company
files income
tax returns.
The Company is generally no longer subject to U.S. Federal or
State examinations by tax authorities for years before 2022.
For
the
years
ended
December 31,
2025 and
2024,
the
Company
did
no
t have
any unrecognized
tax benefits
as a
result of
tax positions
taken during
a prior
period or
during the
current period.
Additionally,
no
interest or
penalties
were
recorded as a result of tax uncertainties.
Cash payments
for
federal
taxes
was
$
3.9
million
in
the
year
ended
December
31,
2025
and
$
0
in
the
year
ended
December 31, 2024.
2025
2024
Deferred tax assets:
Net operating loss
$
1,039
$
9,276
Allowance for credit losses
6,463
6,100
Lease liability
1,399
2,142
Unrealized loss on available for sale securities
10,270
15,200
Depreciable property
-
38
Equity compensation
973
686
Accruals
721
520
Other, net
268
65
Deferred tax asset
$
21,133
$
34,027
Deferred tax liability:
Deferred loan cost
(1,520)
(1,934)
Lease right of use asset
(1,399)
(2,142)
Deferred expenses
(154)
(224)
Cash flow hedge
(5)
(81)
Depreciable property
(9)
-
Deferred tax liability
$
(3,087)
$
(4,381)
Net deferred tax asset
$
18,046
$
29,646
2025
2024
Amount
% Pre-tax
Income
Amount
% Pre-tax
Income
Computed tax at the statutory federal income tax rate
$
7,542
21.00%
$
6,820
21.00%
State income taxes, net of federal tax benefit
(1)
2,767
7.70%
1,411
4.33%
Nontaxable or Nondeductible Items
Bank owned life insurance income
(495)
(1.38%)
(428)
(1.32%)
Other
2
0.01%
-
-
Other adjustments, net
-
-
-
-
Total
tax expense
$
9,816
27.33%
$
7,803
24.01%
(1) Taxes
in Florida made up the majority (greater than 50%) of the tax effect in this category.
December 31,
2025
2024
Pre-tax income:
Domestic
$
35,916
$
32,477
Total pre-tax income
$
35,916
$
32,477
Current tax expense:
Federal
$
1,213
$
-
State
1,857
-
Total
current
3,070
-
Deferred tax expense:
Federal
4,907
6,122
State
1,839
1,681
Total
deferred
6,746
7,803
Total
income tax expense
$
9,816
$
7,803
Free Sentinel

Want the next USCB FINANCIAL HOLDINGS, INC. income taxes disclosure the moment it drops?

Set a Sentinel and we'll alert you the moment USCB FINANCIAL HOLDINGS, INC.'s next filing hits EDGAR. No credit card, your email never gets sold.

Track for free

Historical Timeline

Fiscal YearFiled
2025Mar 13, 2026Showing above
2024Mar 14, 2025
2023Mar 22, 2024
2022Mar 24, 2023
2021Mar 24, 2022

About Income Taxes Disclosures

The income tax disclosure reveals how much a company actually pays in taxes versus what the statutory rate would predict. Analysts focus on the effective tax rate (ETR) reconciliation, which breaks down every item driving the gap between the 21% federal rate and the company's reported ETR — including R&D credits, foreign rate differentials, and state taxes. Deferred tax assets (DTAs) and their valuation allowances signal management's confidence in future profitability: a rising allowance suggests the company doubts it can use accumulated tax benefits. Uncertain tax benefit (UTB) reserves quantify exposure to IRS challenges on aggressive positions.

Key signals to watch: sudden ETR drops without clear operational reasons, large increases in valuation allowances, growing UTB balances, and significant unremitted foreign earnings. Post-TCJA, pay attention to GILTI and BEAT provisions that affect multinational tax structures. Compare the cash taxes paid (from the cash flow statement) against the income tax provision to gauge earnings quality.

Other Available Disclosures

Earnings Per ShareFair ValuePP&ELeasesSegmentsDebtCommitmentsStock CompensationNew Standards