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. (NASDAQ: FUSB) is a bank holding company based in Birmingham, Alabama and the parent of First US Bank, which operates banking offices in Alabama, Tennessee, and Virginia. This news page aggregates Company announcements and third-party coverage related to FUSB, with a focus on its commercial banking activities and financial performance.
News about First US Bancshares, Inc. frequently includes quarterly and year-to-date financial results, where the Company reports net income, net interest income, provision for credit losses, non-interest income and expense, and key banking ratios such as net interest margin, efficiency ratio, and returns on average assets and equity. These releases also provide detailed tables covering loan and deposit balances, asset quality metrics, and capital measures.
Investors and analysts following FUSB can use this page to monitor updates on the Company’s loan portfolio, including real estate, commercial and industrial, and consumer direct and indirect loans. The Company’s disclosures highlight the role of its indirect consumer lending platform, which finances collateral such as boats, recreational vehicles, campers, horse trailers and cargo trailers, and has influenced provisions for credit losses and loan growth trends.
Additional news items cover capital management actions such as cash dividend declarations and changes to the share repurchase program, including expansions of authorized repurchase amounts and extensions of program duration. Governance and leadership developments, such as the election of new directors to the Board of Directors of the Company and First US Bank or the appointment of senior commercial lending executives and market leaders, also appear in press releases.
By reviewing the articles linked on this page, readers can track how First US Bancshares, Inc. communicates its financial results, capital decisions, board and management changes, and other material events that it reports through press releases and SEC filings.
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.
First US Bancshares, Inc. (Nasdaq: FUSB) announced a cash dividend of $0.03 per share, marking the twenty-ninth consecutive quarter of dividends. The dividend will be payable on October 1, 2021, to shareholders on record as of September 10, 2021. President and CEO James F. House stated the company will assess future dividend payments to maintain a strong capital base. This announcement reflects First US Bancshares' commitment to returning value to shareholders while ensuring financial stability.
First US Bancshares reported a net income of $953,000 for 2Q2021, staying consistent with the previous quarter. Loan growth for the quarter reached $19.1 million, a 2.8% increase, driven primarily by indirect lending and construction portfolios. Non-performing assets decreased to $2.1 million, improving credit quality. The bank's total deposits rose by $19.8 million, or 2.4%, during the same period, while pre-provision net interest income improved by $248,000. However, net interest margin faced compression at 4.31% due to the prevailing interest rates. A cash dividend of $0.03 was declared.