Welcome to our dedicated page for First Us Bancsha news (Ticker: FUSB), a resource for investors and traders seeking the latest updates and insights on First Us Bancsha stock.
First US Bancshares, Inc. (FUSB), a community-focused bank holding company since 1952, provides essential commercial and personal banking services across Alabama, Tennessee, and Virginia. This page serves as your centralized source for all official FUSB news, offering investors and stakeholders timely updates on the company developments that matter most.
Access press releases and financial news covering earnings reports, strategic initiatives, leadership updates, and regulatory filings. Our curated collection ensures you stay informed about FUSB’s loan portfolio updates, deposit growth strategies, and risk management practices without needing to search multiple sources.
Discover updates on key banking operations, including interest income trends, investment securities allocations, and community partnership announcements. All content is organized for quick scanning while maintaining compliance with financial disclosure standards.
Bookmark this page or check back regularly to monitor FUSB’s evolving position in the regional banking sector. For historical context, review our archive of announcements detailing the company’s commitment to financial stability and customer-centric services.
First US Bancshares reported net income of $2.2 million, or $0.36 per diluted share, for Q3 2024, compared to $2.1 million ($0.34 per share) in Q2 2024. For the nine months ended September 30, 2024, net income totaled $6.5 million ($1.04 per diluted share), up from $6.2 million ($0.97 per share) in the same period of 2023. Total deposits increased by $26.7 million (2.8%) during Q3 2024. However, total loan volume decreased by $15.8 million (1.9%) in Q3 2024, primarily due to construction loan payoffs. The company maintained strong capital ratios with a tangible common equity to tangible assets ratio of 8.33%.
First US Bancshares (Nasdaq: FUSB) has declared a cash dividend of $0.05 per share, payable on October 1, 2024. Shareholders of record as of September 13, 2024, will receive the dividend. This marks the forty-first consecutive quarter of dividend payments, reflecting the company's commitment to rewarding shareholders while maintaining a strong capital base.
Company President and CEO, James F. House, emphasized ongoing evaluation of future dividends to ensure shareholder rewards and capital strength.
First US Bancshares reported net income of $2.1 million for 2Q2024, matching 1Q2024 and marginally up from $2.0 million in 2Q2023. Diluted EPS stood at $0.34, consistent with 1Q2024 and up from $0.31 in 2Q2023. Year-to-date net income reached $4.2 million, up from $4.1 million in the same period in 2023, with diluted EPS increasing to $0.68 from $0.64. Key metrics for 2Q2024 included a net interest income of $9.2 million, a net interest margin of 3.69%, and a return on average assets of 0.80%. Total deposits grew by $11.2 million to $954.5 million, while total loans decreased slightly by $3.8 million to $819.1 million.
Non-interest income stood at $0.8 million, and non-interest expenses were $7.3 million. Asset quality remained strong with nonperforming assets at 0.27% of total assets. Shareholders' equity increased to $93.8 million, and tangible common equity rose to 8.02% of tangible assets. The company declared a $0.05 cash dividend and repurchased 77,000 shares. Regulatory capital ratios remained robust, ensuring the institution's well-capitalized status.
First US Bancshares, Inc. (Nasdaq: FUSB) has elected Robert C. Field as a new director of the company and its subsidiary, First US Bank. Mr. Field, a partner with over 35 years of experience at the Welden-Field group, will serve on the Audit Committee and the Asset/Liability Committee. His expertise spans real estate development, mortgage banking, and alternative investments. Mr. Field's background includes significant experience in multifamily investment, Low Income Housing Tax Credits, and FHA multifamily operations. He also has a history in banking, having been involved in the operation and sale of financial institutions. Mr. Field's appointment brings valuable industry knowledge and leadership to First US Bancshares' board.
First US Bancshares (Nasdaq: FUSB) announced a cash dividend of $0.05 per share, payable on July 1, 2024, to shareholders of record as of June 7, 2024.
This marks the fortieth consecutive quarter of dividend payments, as per the announcement by President and CEO James F. House.
The company aims to reward shareholders while maintaining a strong capital base.
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