First Us Bancsha Stock Price, News & Analysis

First US Bancshares, Inc. (Nasdaq: FUSB) reported a net income of $2.1 million, or $0.33 per diluted share, for Q1 2023, marking a 5.7% decrease from Q4 2022 ($2.2 million) but a 65% increase from Q1 2022 ($1.4 million). Total assets grew to $1.026 billion, with total loans rising 0.3% to $775.9 million. The company improved its credit quality, reducing net charge-offs to 0.11% of average loans and nonperforming assets to 0.18% of total assets. However, net interest income fell 4.6% due to higher interest expense and fewer earning days. First US Bank maintains good liquidity with a Tier 1 leverage ratio of 9.30% and continues to navigate economic challenges while enhancing its capital position. A cash dividend of $0.05 per share was declared, consistent with Q4 2022.

On February 22, 2023, First US Bancshares (Nasdaq: FUSB) announced a cash dividend of $0.05 per share, payable on April 3, 2023. This marks the thirty-fifth consecutive quarter of dividend payments and the second consecutive increase to $0.05. CEO James F. House highlighted the growth in earnings for 2022 as a driving factor behind this decision, affirming the company's commitment to rewarding shareholders while maintaining a strong capital base. Shareholders of record must hold their shares by the close of business on March 10, 2023.

First US Bancshares reported a net income of $2.2 million for 4Q2022, equating to $0.35 per diluted share, a rise compared to $1.9 million in 3Q2022 and $1.7 million in 4Q2021. For FY2022, net income reached $6.9 million, reflecting a 60.6% increase in diluted earnings per share. The improvement was attributed to a $4.7 million reduction in non-interest expenses, driven by strategic initiatives initiated in 2021. Loan balances rose to $775.1 million, a 3.1% increase in 4Q2022. Despite challenges from rising interest rates, the company remains optimistic about its positioning, reporting a net interest margin of 4.27% in 4Q2022 and a 67% increase in dividends.

First US Bancshares, Inc. (Nasdaq: FUSB) has extended its share repurchase program, now set to expire on December 31, 2023. To date, the company has repurchased 1,045,972 shares, with 596,813 shares remaining for repurchase. The program allows for share repurchases through various methods, adhering to regulatory guidelines. The Board retains discretion over the execution of the program without obligation to purchase any specific number of shares.

First US Bancshares, Inc. (Nasdaq: FUSB) announced a 67% increase in its quarterly cash dividend, now at $0.05 per share, up from $0.03. The dividend is payable on January 3, 2023, to shareholders of record by December 9, 2022. This marks the 34th consecutive quarter of dividend payments, reflecting the Company's strong earnings growth in 2022. CEO James F. House highlighted the commitment to reward shareholders while maintaining a robust capital base.

First US Bancshares reported a 31.4% quarter-over-quarter earnings growth, with net income of $1.9 million or $0.29 per diluted share for 3Q2022, up from $0.8 million in 3Q2021. The nine-month net income rose to $4.6 million from $2.7 million in 2021. Strategic cost reductions resulted in non-interest expense down by 17.7% year-over-year. The company's total loans increased by $36.1 million or 5.0% in 3Q2022. However, shareholders' equity decreased to $83.1 million, partly due to declines in market value of investment securities amid rising interest rates.