Company: USCB
Filing Date: 2025-04-22
Form Type: DEF 14A
Source: 0000927089-25-000082
Chunk: 50

Company: USCB FINANCIAL HOLDINGS, INC.
Filing Date: 2025-04-22
Form: DEF 14A
Chunk 50
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, U.S. Century Bank purchased a pool of loans totaling approximately $16.0 million originated by another insured financial institution. Patriot, of which Mr. Wycoff, one of our directors, is a managing partner, is a shareholder of the parent holding company of the other financial institution. In connection with the purchase of the loan package, U.S. Century Bank paid fees to the other financial institution totaling approximately $216,000 which represented 1.35% of the aggregate principal amount of the loans purchased by U.S. Century Bank. U.S. Century Bank will also be paying a servicing fee of 35 basis points of the principal balance of the loans over the life of the loans.

In the later part of 2023, U.S. Century Bank participated in a loan originated by another insured financial institution. U.S. Century Bank’s aggregate interest in the loan participation is $4.2 million. Mr. Wycoff, one of our directors, is also a director of the other insured financial institution and Patriot, of which he is a managing partner, is a significant shareholder of the parent holding company of the other financial institution. In connection with the funding of the loan participation, U.S. Century Bank paid fees to the other financial institution totaling approximately $42,000 which represented 1% of the principal amount of the loan participations purchased by U.S. Century Bank. In addition, in the second quarter of 2024, U.S. Century Bank participated in an additional loan participation originated by this same insured financial institution. U.S. Century Bank’s aggregate interest in the loan participation is $5.6 million. In connection with the funding of the loan participation, U.S. Century Bank paid fees to the other financial institution totaling approximately $56,000 which represented 1% of the principal amount of the loan participations purchased by U.S. Century Bank. There is no servicing fee being paid on either of these loan participations.

In late 2023, U.S. Century Bank purchased a package of loan participations originated by another insured financial institution. U.S. Century Bank’s aggregate interest in the 99 loan participations totaled $24.5 million. Messrs. Feinglass and Wycoff, two of our directors, are also directors of the other insured financial institution and Priam, of which Mr. Feinglass is a managing partner, and Patriot, of which Mr. Wycoff is a managing partner, are significant shareholders of the parent holding company of the other financial