First Us Bancsha Stock Price, News & Analysis

First US Bancshares, Inc. (FUSB) reported a robust 45.9% year-to-date net income growth of $2.8 million for the first half of 2022, reflecting strategic expense reductions. 2Q2022 net income was $1.4 million, up from $1.0 million YoY. Significant non-interest expense decreases, totaling $1.5 million (18.1% reduction), were achieved due to the company’s focus on cost management and restructuring. Despite lower net interest income attributed to the cessation of ALC's operations, the total loan portfolio increased by 5.3% to $715.8 million, showcasing solid loan growth in key categories.

First US Bancshares, Inc. (Nasdaq: FUSB) has declared a cash dividend of $0.03 per share, marking the thirty-second consecutive quarter of dividend payments. The dividend will be paid on July 1, 2022, to shareholders of record by June 10, 2022. President and CEO James F. House emphasized the company’s commitment to maintaining a strong capital base while evaluating future dividend payments.

First US Bancshares reported 1Q2022 net income of $1.4 million, or $0.20 per share, a 43.3% increase from $1.0 million in 1Q2021. Key factors for growth included a $1.3 million reduction in non-interest expenses driven by strategic efficiency initiatives. However, net income decreased compared to $1.7 million in 4Q2021 due to lower loan interest and fees, and increased loan loss provisions of $0.7 million. As of March 31, 2022, total loans decreased by 4.3% to $680.1 million, while total deposits rose by 1.8% to $853.1 million.

First US Bancshares, Inc. (Nasdaq: FUSB) announced a cash dividend of $0.03 per share, payable on April 1, 2022, to shareholders of record by March 10, 2022. This marks the 31st consecutive quarter of dividend payments. CEO James F. House expressed confidence in continuing dividend evaluations to maintain a robust capital base. The company operates banking offices in Alabama, Tennessee, and Virginia and includes a consumer loan and insurance underwriting business.

First US Bancshares (FUSB) reported a significant year-over-year earnings growth of 64.4% for 2021, with net income reaching $4.5 million or $0.66 per diluted share. In Q4 2021, net income was $1.7 million, up from $0.8 million in Q3 2021. Loan growth was noted at 11.1% for the year, excluding PPP loans, totaling $71.1 million. However, total deposits decreased by $8.7 million in Q4 2021. The company continues to focus on operational efficiency and loan growth, despite challenges from the closure of its subsidiary’s branches.

First US Bancshares, Inc. (FUSB) announced a cash dividend of $0.03 per share, marking the thirtieth consecutive quarter of dividend payments. This dividend is set to be paid on January 4, 2022, to shareholders of record by December 10, 2021. President James F. House emphasized the company's commitment to maintaining a strong capital base while evaluating future dividends.

First US Bancshares, Inc. (FUSB) reported a net income of $837 thousand ($0.13 per diluted share) for 3Q2021, a decrease from $953 thousand in 2Q2021 but an increase from $411 thousand in 3Q2020. Year-to-date net income reached $2.7 million ($0.41 per diluted share), up from $1.7 million in the same period last year. Loan growth was $19.3 million in 3Q2021, totaling $58.8 million (9.0%) year-to-date. Strategic initiatives included the closure of 20 branches, leading to anticipated expense reductions. The company declared a cash dividend of $0.03 per share, maintaining strong capital ratios.

First US Bancshares, Inc. (Nasdaq: FUSB) announced the completion of an $11.0 million private placement of fixed-to-floating rate subordinated notes, maturing October 1, 2031. The notes, qualifying as Tier 2 capital, were sold to institutional accredited investors. Initial interest is set at 3.50% per annum, resetting quarterly after October 1, 2026. Proceeds will be used for corporate purposes, including possible common stock repurchases and supporting growth plans. The offering was not registered under federal securities laws and is subordinated to senior indebtedness.

First US Bancshares, Inc. (FUSB) has announced the immediate cessation of business at its subsidiary, Acceptance Loan Company, Inc. (ALC), and the closure of its 20 branch locations in Alabama and Mississippi. This decision follows board approval on August 25, 2021, as part of a strategy to reduce expenses and focus on loan growth in other areas. The closures are expected to result in approximately $1.2 million in pre-tax charges, with ongoing cost savings anticipated by the end of 2021. ALC will continue to service its existing loan portfolio until its planned closure by the end of 2023.