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US Metro Bancorp Announces Fourth Quarter 2020 Financial Results


Press release content from Business Wire. The AP news staff was not involved in its creation.
US Metro Bancorp Announces Fourth Quarter 2020 Financial Results
January 29, 2021 GMT
GARDEN GROVE, Calif. (BUSINESS WIRE) Jan 29, 2021
US Metro Bancorp (OTC Pink: USMT) Mr. Dong Il Kim, President and CEO, announced US Metro Bancorp and US Metro Bank’s financial results for the fourth quarter 2020. As of January 2, 2020, US Metro Bancorp (“Bancorp”), a small bank holding company (BHC), was formed making US Metro Bank its lone subsidiary. On a consolidated basis the Bancorp earned $863,000 in the fourth quarter of 2020 compared to $1,105,000 in the third quarter and $4,067,000 for the twelve months ending December 31, 2020. On a year-to-date basis the Bancorp recorded a return on average assets (“ROAA”) of 0.62% and a return on average equity (“ROAE”) of 5.87%. With 16,230,000 shares outstanding, earnings per share (“EPS”) for the fourth quarter was $0.05 ....

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Inside the Industry


The New Mart showroom building, along with the California Market Center and the Cooper Design Space in Los Angeles’ Fashion District, announced Jan. 19 that they would produce February market weeks Feb. 8–10 and Feb. 15–18. The New Mart announcement advised its tenants that participation in these in-person shows is voluntary.
The
Designers and Agents trade show announced Jan. 19 that it would cancel its in-person show scheduled to take place in March in Los Angeles due to the continuing COVID-19 pandemic. D&A will produce a virtual trade show on the website
designersandagents.digital. D&A does intend to produce an in-person show in New York City Sept. 18–20. ....

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After 81 Years Selling Hat Supplies, Unique DTLA Shop May Close


RETAIL
By Andrew Asch |
Thursday, January 21, 2021
The
California Millinery Supply Co., located at 721 S. Spring St. in downtown Los Angeles’ Fashion District, sells hat-making supplies and accessories. For decades, film, television and theater productions, fashion designers and craftspeople have purchased hat frames, feathers, ribbons and veiling to make period headwear as well as new styles.
Irene Arroyo, the company’s owner, estimated that her sales have declined 90 percent from 2020 and 2019. Film and television productions, which made up a significant part of her business, shut down during the pandemic,.
She received a
Small Business Administration Economic Injury Disaster Loan/EIDL to help the business get through the pandemic, but she said that once the money is spent she’ll have to liquidate her business if it is not sold. She has not formally put up for sale the 3,500-square-foot location in the ....

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