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. (FUSB) announced the election of Marlene M. McCain as a director, effective immediately. McCain, a certified public accountant with over 40 years of experience, will serve on the Company’s Audit Committee and the Bank's Retail, Operations, and Compliance Committee. Her background includes significant roles in public accounting and financial management, enhancing the board's expertise. CEO James F. House welcomed her, emphasizing her valuable insights for the Company’s growth strategies and initiatives.
First US Bancshares, Inc. (Nasdaq: FUSB) has declared a cash dividend of $0.03 per share, payable on July 1, 2021, to shareholders of record by June 11, 2021. This marks the twenty-eighth consecutive quarter the company has paid a dividend. James F. House, President and CEO, expressed commitment to maintaining a strong capital base while evaluating future dividend payments.
On April 28, 2021, First US Bancshares, Inc. (Nasdaq: FUSB) announced an expansion of its existing share repurchase program. Having repurchased 587,824 shares, the Company is now authorized to buy back an additional 1,000,000 shares, extending the program's expiration to December 31, 2022. This initiative is expected to enhance shareholder value and reflects management's confidence in the Company's future performance. The program allows repurchases through open market or negotiated transactions, adhering to applicable regulations.
First US Bancshares reported a net income of $950,000 for Q1 2021, a rise from $847,000 in Q1 2020. Total loans grew by $20.4 million, with significant increases in commercial real estate and indirect lending portfolios. Deposits rose by 4.6%, totaling $35.8 million. However, net interest margin fell to 4.40% due to ongoing compression from the low-interest rate environment. Non-performing assets improved, totaling $3.5 million. The company declared a cash dividend of $0.03 per share, maintaining strong capital ratios above regulatory requirements.
First US Bancshares, Inc. (Nasdaq: FUSB) has declared a cash dividend of $0.03 per share, payable on April 1, 2021, to shareholders of record by March 12, 2021. This marks the twenty-seventh consecutive quarter of dividend payments, reflecting the company's commitment to maintaining a strong capital base. President and CEO James F. House highlighted the importance of future evaluations for dividends to ensure alignment with financial objectives.
First US Bancshares (FUSB) reported a net income of $1.0 million for 4Q2020, an increase from $0.4 million in 3Q2020, yet down from $1.2 million in 4Q2019. Total loans grew by 17.1% year-over-year, reaching $638.4 million. The increase in net income was attributed to improved net interest income and reduced loan loss provisioning, despite a decrease in non-interest income. The company declared a cash dividend of $0.03 per share for 2020, totaling $0.12 for the year. Despite challenges posed by COVID-19, First US Bancshares maintained strong capital ratios and solid loan growth.
First US Bancshares (FUSB) announced an extension of its share repurchase program, allowing the repurchase of up to 642,785 shares of its common stock. Originally approved in January 2006, the program now expires on December 31, 2021. To date, 587,824 shares have been repurchased, leaving 54,961 shares available for repurchase. Transactions will occur through open market and private negotiations, adhering to regulatory requirements. This move aims to enhance shareholder value and demonstrates confidence in the company’s financial stability.
First US Bancshares, Inc. (Nasdaq: FUSB) has declared a cash dividend of $0.03 per share, payable on January 4, 2021, to shareholders of record as of December 11, 2020. This marks the twenty-sixth consecutive quarter of dividend payments, reinforcing the company’s commitment to maintaining a strong capital base. The company operates banking offices in Alabama, Tennessee, and Virginia, along with a consumer loan division and reinsurance services.
First US Bancshares reported a net income of $0.4 million for 3Q2020, unchanged from 2Q2020 but down from $1.1 million in 3Q2019. Year-to-date net income decreased to $1.7 million from $3.4 million in 2019. Total loans grew by 9.3% to $609.6 million, mainly due to indirect sales and commercial real estate lending. Despite a modest net interest income increase to $9.0 million, the net interest margin declined to 4.56%. The provision for loan losses rose to $1.0 million amid economic uncertainty, while non-performing assets decreased. The company declared a cash dividend of $0.03 per share.
First US Bancshares, Inc. (Nasdaq: FUSB) declared a cash dividend of $0.03 per share, payable on October 1, 2020, to shareholders of record by September 11, 2020. This marks the company’s twenty-fifth consecutive quarter of dividend payments, highlighting its commitment to maintaining a strong capital base. The company operates banking offices in Alabama, Tennessee, and Virginia, and oversees various financial services.