First Us Bancsha - FUSB STOCK NEWS

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.

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.