FIRST US BANCSHARES, INC.

Listed Company

FUSBCIK 0000717806NasdaqNon-AcceleratedSmaller ReportingState Commercial BanksDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$5.99M

Total Assets

$1.15B

Equity

$105.60M

Shares Out

5.65M

Op. Cash Flow

$12.32M

Business

First US Bancshares, Inc. is a bank holding company that operates through its wholly owned banking subsidiary, First US Bank, providing general commercial banking services. The Bank offers demand, savings, individual retirement account and time deposits, personal and commercial loans, safe deposit box services, remote deposit capture and indirect lending through third‑party retailers. The Company’s sole reportable operating segment is the Bank, with operations supported by full‑service branches and loan production offices. It serves small‑ and medium‑sized businesses, property managers, professionals and consumers in Alabama, Tennessee and Virginia and conducts indirect lending in 17 states through branches, loan production offices and digital channels.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Interest and fees on loans	52	51	48	38	38
Interest on investment securities	6	4	3	3	2
Interest on deposits in banks	2	2	2	439,000	—
Other	306,000	435,000	188,000	75,000	—
Total interest income	59	58	53	41	40
Interest on deposits	21	22	14	3	3
Interest on borrowings	1	562,000	1	874,000	281,000
Total interest expense	22	22	15	4	3
Net interest income	37	36	37	37	37
Provision for credit losses	4	622,000	319,000	3	—
Net interest income after provision for credit losses	33	36	37	34	35
Revenue from Contract with Customer, Including Assessed Tax	1	1	1	1	—
Lease income	1	1	949,000	864,000	830,000
Other income, net	1	1	1	1	2
Total non-interest income	4	4	3	3	4
Salaries and employee benefits	15	15	16	16	19
Net occupancy and equipment	4	4	3	3	4
Computer services	2	2	2	2	2
Insurance expense and assessments	1	2	2	1	—
Fees for professional services	1	1	1	1	1
Other expense	6	5	5	4	6
Total non-interest expense	29	28	29	28	33
Income before income taxes	8	11	11	9	6
Provision for income taxes	2	3	3	2	1
Net income	6	8	8	7	4
Basic net income per share	1.03	1.4	1.42	1.13	0.7
Diluted net income per share	1	1.33	1.33	1.06	0.66
Dividends per share	0.28	0.22	0.2	0.14	0.12

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and due from banks	9	11	13	12	11
Interest-bearing deposits in banks	64	37	37	18	50
Total cash and cash equivalents	74	47	50	30	61
Federal funds sold and securities purchased under reverse repurchase agreements	5	6	9	—	—
Investment securities available-for-sale, at fair value (amortized cost $169,037 and $174,597; net of allowance for credit losses of $- and $-)	168	168	136	131	131
Investment securities held-to-maturity, at amortized cost, net of allowance for credit losses of $- and $-, (fair value 2025 - $449, 2024 - $642)	465,000	682,000	1	2	3
Federal Home Loan Bank stock, at cost	791,000	1	1	1	870,000
Loans and leases held for investment	853	823	822	774	—
Less allowance for credit losses on loans and leases	11	10	11	9	8
Net loans and leases held for investment	842	813	811	764	700
Premises and equipment, net of accumulated depreciation	26	25	24	24	25
Cash surrender value of bank-owned life insurance	17	17	17	16	16
Accrued interest receivable	4	4	4	3	3
Goodwill and core deposit intangible, net	7	7	8	8	8
Other real estate owned	256,000	2	602,000	686,000	2
Other assets	9	11	11	12	8
Total assets	1,155	1,101	1,073	995	958
Non-interest-bearing	154	156	154	170	175
Interest-bearing	874	817	797	700	664
Total deposits	1,028	973	950	870	838
Accrued interest expense	3	2	2	607,000	224,000
Other liabilities	8	7	9	8	9
Short-term borrowings	0	10	10	20	10
Long-term borrowings	11	11	11	11	11
Total liabilities	1,049	1,002	982	910	868
Common stock, par value $0.01 per share, 10,000,000 shares authorized; 7,947,303 and 7,840,348 shares issued, respectively; 5,699,696 and 5,696,171 outstanding, respectively	79,000	78,000	75,000	75,000	75,000
Additional paid-in capital	16	16	15	15	14
Accumulated other comprehensive loss, net of tax	−780,000	−4	−6	−7	−276,000
Retained earnings	121	117	110	104	98
Less treasury stock: 2,247,607 and 2,144,177 shares at cost, respectively	−31	−30	−28	−27	−22
Total shareholders equity	106	99	91	85	90
Total liabilities and shareholders equity	1,155	1,101	1,073	995	958

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	2	2	2	2	2
Provision for credit losses	4	622,000	319,000	3	—
Deferred income tax expense	50,000	583,000	133,000	−367,000	−401,000
Reclassification of unrealized gains on terminated derivative contracts	−194,000	−864,000	−1	—	—
Stock-based compensation expense	744,000	617,000	596,000	485,000	436,000
Net accretion of securities	−750,000	−281,000	28,000	195,000	338,000
Amortization of intangible assets	49,000	122,000	195,000	268,000	341,000
Net loss on premises and equipment and other real estate	194,000	151,000	621,000	−207,000	−53,000
Increase in cash surrender value of bank owned life insurance	−322,000	−354,000	−303,000	—	—
(Increase) decrease in accrued interest receivable	−328,000	388,000	−965,000	−455,000	251,000
Increase in other assets	−77,000	−995,000	−905,000	333,000	1
Increase (decrease) in accrued interest expense	775,000	−279,000	1	383,000	−68,000
Increase (decrease) in other liabilities	466,000	−2	853,000	−299,000	−287,000
Net cash provided by operating activities	12	8	13	13	10
Net decrease in federal funds sold and securities purchased under reverse repurchase agreements	877,000	4	−8	—	—
Purchases of investment securities, available-for-sale	−44	−58	−15	−39	−87
Proceeds from maturities and prepayments of investment securities, available-for-sale	50	29	12	19	39
Proceeds from maturities and prepayments of investment securities, held-to-maturity	216,000	421,000	755,000	2	3
Net decrease (increase) in Federal Home Loan Bank stock	465,000	−55,000	158,000	−489,000	265,000
Net increase in loans	−35	−4	−50	−70	−65
Proceeds from the sale of premises and equipment and other real estate	2	869,000	497,000	3	2
Purchases of premises and equipment	−3	−2	−1	−1	−822,000
Net cash used in investing activities	−28	−30	−60	−80	−108
Net increase in customer deposits	55	22	80	32	—
Net decrease in short-term borrowings	−10	0	−10	10	29,000
Net share-based compensation transactions	93,000	64,000	−25,000	—	—
Repurchases of common stock	−2	−2	−1	−4	−525,000
Dividends paid	−2	−1	−1	−832,000	−745,000
Net cash provided by financing activities	42	20	68	37	65
Net increase (decrease) in cash and cash equivalents	26	−3	20	−31	−33

Filings

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