Financial Performance - The Company reported net income of $2.2 million, or $0.36 per diluted common share, for the three months ended September 30, 2024, compared to $2.1 million, or $0.33 per diluted common share, for the same period in 2023[179]. - For the nine months ended September 30, 2024, net interest income totaled $27.4 million, a decrease of $0.8 million, or 3.0%, from $28.2 million for the same period in 2023[182]. - For the three months ended September 30, 2024, net interest income was $9,185 million, with a net interest margin of 3.60%[197]. - Non-interest income increased by $0.1 million to $2.601 million for the nine months ended September 30, 2024, compared to $2.465 million in 2023[205]. - Total non-interest expense decreased to $21.4 million for the nine months ended September 30, 2024, from $21.7 million in the same period of 2023[206]. Asset and Loan Management - Total assets increased by 2.5% to $1,100.2 million as of September 30, 2024, compared to $1,072.9 million as of December 31, 2023[185]. - Total loans decreased by $18.5 million, or 2.2%, as of September 30, 2024, primarily due to payoffs of construction loans[186]. - Average total loans were $821.0 million for the nine months ended September 30, 2024, compared to $795.0 million during the same period in 2023[186]. - Total loans amounted to $3.281 billion as of September 30, 2024, with an allowance for credit losses of $10.116 million, representing 1.26% of total loans[218]. - The total loan portfolio decreased by $18.5 million, or 2.2%, as of September 30, 2024, compared to December 31, 2023[215]. Credit Quality - Nonperforming assets increased to $6.6 million, or 0.60% of total assets, as of September 30, 2024, compared to $3.0 million, or 0.28% of total assets, as of December 31, 2023[187]. - The provision for credit losses totaled $0.2 million for the nine months ended September 30, 2024, down from $0.8 million for the same period in 2023[183]. - The company's allowance for credit losses (ACL) on loans and leases was 1.26% of total loans as of September 30, 2024, slightly down from 1.28% at the end of 2023[203]. - The allowance for credit losses on loans and leases was $10.1 million as of September 30, 2024, compared to $11.4 million as of September 30, 2023[215]. Deposits and Equity - Deposits totaled $981.1 million as of September 30, 2024, an increase from $950.2 million as of December 31, 2023, driven by increased interest-bearing time and demand deposits[188]. - Shareholders' equity increased by $7.9 million, or 8.7%, as of September 30, 2024, primarily due to earnings net of dividends paid and share repurchases[190]. - Total deposits rose to $981.1 million, a 3.3% increase from $950.2 million as of December 31, 2023, with core deposits making up 85.0% of total deposits[222]. - The Company declared cash dividends of $0.15 per share during both the nine months ended September 30, 2024 and 2023[191]. Capital and Liquidity - As of September 30, 2024, the Bank's common equity Tier 1 capital and Tier 1 risk-based capital ratios were each 11.45%, with a total capital ratio of 12.63% and a Tier 1 leverage ratio of 9.49%[192]. - The Company reported total readily available liquidity of $431.3 million as of September 30, 2024, compared to $375.3 million as of December 31, 2023[235]. - The Company had $165.2 million in borrowing capacity with the FRB's discount window as of September 30, 2024, compared to $161.7 million as of December 31, 2023[233]. - Management believes the Company has adequate sources of liquidity to cover its contractual obligations over the next twelve months[239]. Operational Developments - During the nine months ended September 30, 2024, the Company opened a new banking center in Knoxville, Tennessee, and commenced renovation of a banking center in Daphne, Alabama, expected to open in 2025[194]. - The Company repurchased 106,500 shares of common stock at an average price of $10.67 per share during the nine months ended September 30, 2024[227].

Financial Performance - Total interest income for Q3 2024 was $15.017 million, an increase from $14.546 million in Q2 2024, and $13.945 million in Q3 2023[1] - Net interest income after provision for credit losses was $9.033 million in Q3 2024, compared to $9.176 million in Q2 2024 and $9.299 million in Q3 2023[1] - Net income for Q3 2024 was $2.222 million, up from $2.127 million in Q2 2024 and $2.113 million in Q3 2023[1] - Diluted net income per share for Q3 2024 was $0.36, compared to $0.34 in Q2 2024 and $0.33 in Q3 2023[1] - Net interest income for 3Q2024 was $9.1 million, a decrease of $0.3 million or 3.1% compared to 3Q2023, with a net interest margin of 3.60%[4] - Net interest income for the nine months ended September 30, 2024 was $27,401,000, down from $28,240,000 in the same period of 2023[17] - Net income for the third quarter of 2024 was $2,222 thousand, up from $2,113 thousand in the same quarter of 2023, reflecting a growth of 5.2%[22] - Basic net income per share increased to $0.38 for the third quarter of 2024, compared to $0.35 for the same period in 2023, a rise of 8.6%[22] Asset and Loan Management - Total loans decreased by $15.8 million, or 1.9%, in Q3 2024, primarily due to payoffs of construction loans[3] - Average total loans for the nine months ended September 30, 2024, were $821.0 million, compared to $795.0 million during the same period in 2023, reflecting a year-over-year increase[3] - Total loans for Q3 2024 were $821,444,000 with an annualized yield of 6.40%, compared to $821,294,000 and 6.08% in Q3 2023[16] - For the nine months ended September 30, 2024, total loans were $821,008,000 with an annualized yield of 6.34%, compared to $795,033,000 and 5.94% in the same period of 2023[17] Deposits and Funding - Total deposits increased by $26.7 million, or 2.8%, during 3Q2024, with core deposits totaling $833.5 million, representing 85.0% of total deposits[5] - Total deposits rose to $981,149 thousand as of September 30, 2024, an increase of 3.3% from $950,191 thousand on December 31, 2023[19] - Total deposits increased to $962,334,000 in Q3 2024, with interest-bearing deposits at $809,163,000, up from $775,296,000 in Q3 2023[16] - Demand deposits for Q3 2024 were $209,322,000, with an interest rate of 1.08%, compared to $206,540,000 and 0.34% in Q3 2023[16] - Time deposits increased to $355,819,000 in Q3 2024, with an interest rate of 3.91%, up from $323,824,000 and 3.03% in Q3 2023[16] - Total funding costs for Q3 2024 were $974,103,000, with an average cost of 2.38%, compared to 1.83% in Q3 2023[16] Capital and Equity - Total assets increased to $1,100.235 million in Q3 2024 from $1,083.313 million in Q2 2024[1] - Shareholders' equity increased to $98.5 million, or 8.95% of total assets, as of September 30, 2024, compared to $90.6 million, or 8.44% of total assets, as of December 31, 2023[10] - As of September 30, 2024, the Bank's common equity Tier 1 capital ratio was 11.46%, maintaining higher levels than required for a "well-capitalized" institution[11] - Tangible common equity increased to $90,989 thousand as of September 30, 2024, from $86,304 thousand in the previous quarter[32] - Tangible book value per common share rose to $15.92 as of September 30, 2024, compared to $15.03 in the previous quarter[32] - Total shareholders' equity increased to $98,491 thousand as of September 30, 2024, up from $90,593 thousand on December 31, 2023, representing a growth of 8.3%[19] Efficiency and Management - The efficiency ratio improved to 69.3% in Q3 2024, down from 72.6% in Q2 2024[2] - The Tier 1 leverage ratio was 9.49% in Q3 2024, slightly up from 9.46% in Q2 2024[2] - The company is focused on sound growth strategies to enhance profitability and strengthen its balance sheet[2] - Management emphasizes the importance of tangible common equity measures for assessing capital adequacy in comparison to other organizations[30] - The Company’s calculations of tangible equity may not be comparable with those of other organizations due to the lack of standardized definitions[31] Non-Interest Income and Expenses - Noninterest income totaled $0.9 million in 3Q2024, an increase from $0.8 million in both 2Q2024 and 3Q2023[8] - Non-interest expense decreased to $7.0 million in 3Q2024, down from $7.3 million in both 2Q2024 and 3Q2023[9] - Non-interest income for the three months ended September 30, 2024, was $901 thousand, compared to $837 thousand for the same period in 2023, a growth of 7.7%[22] - Total non-interest expense decreased to $6,990 thousand for the third quarter of 2024, down from $7,319 thousand in the same quarter of 2023, a reduction of 4.5%[22] Credit Quality - The provision for credit losses was $0.2 million for both 3Q2024 and 3Q2023, with a total provision of $0.2 million for the nine months ended September 30, 2024, down from $0.8 million in the same period of 2023[7] - Nonperforming assets increased to $6.6 million as of September 30, 2024, representing 0.60% of total assets, compared to 0.28% as of December 31, 2023[8] - Provision for credit losses was $152 thousand for the three months ended September 30, 2024, compared to $184 thousand for the same period in 2023, a decrease of 17.4%[22] Liquidity - Total liquidity from cash, federal funds sold, and securities purchased under reverse repurchase agreements reached $97,833 thousand as of September 30, 2024, compared to $59,754 thousand on December 31, 2023, an increase of 63.7%[26] - The Company’s liquidity measures indicate strong capability to fund obligations in a stressed liquidity environment[27] - As of September 30, 2024, the Company had total remaining credit availability with the FHLB of $294.8 million, up from $279.4 million as of December 31, 2023[27] - Estimated uninsured deposits totaled $233.4 million, representing 23.8% of total deposits as of September 30, 2024, an increase from $200.3 million or 21.1% as of December 31, 2023[28] Expansion and Development - The Company opened a new banking center in Knoxville, Tennessee, and commenced renovation of a banking center in Daphne, Alabama, expected to open in early 2025[13]

Core Insights - The company reported a net income of $2.2 million for the third quarter of 2024, with diluted earnings per share of $0.36, reflecting a focus on improving profitability and balance sheet strength [1][2][3] - Total deposits increased by $26.7 million, or 2.8%, during the third quarter, driven primarily by growth in interest-bearing demand deposits [6][7] - The company experienced a decrease in total loans of $15.8 million, or 1.9%, in the third quarter, attributed mainly to payoffs of construction loans [6][7] Financial Performance - Interest income for the third quarter was $15.0 million, compared to $14.5 million in the previous quarter, while interest expense rose to $5.8 million from $5.4 million [2][6] - Net interest income remained stable at $9.2 million compared to the previous quarter, but decreased by $0.3 million, or 3.1%, year-over-year [6][10] - The net interest margin for the third quarter was 3.60%, down from 3.69% in the previous quarter and 3.79% in the same quarter last year [6][10] Asset Quality - The allowance for credit losses on loans and leases was $10.1 million, representing 1.26% of total loans, a slight decrease from 1.28% at the end of 2023 [6][7] - Nonperforming assets increased to $6.6 million, or 0.60% of total assets, compared to $3.0 million, or 0.28%, at the end of 2023 [6][7] Shareholder Returns - The company declared a cash dividend of $0.05 per share, consistent with previous quarters [6][7] - Shareholders' equity increased to $98.5 million, or 8.95% of total assets, up from $90.6 million, or 8.44%, at the end of 2023 [6][7] Growth Strategy - The company opened a new banking center in Knoxville, Tennessee, and began renovations on another location in Daphne, Alabama, as part of its growth strategy [8][9]

Financial Performance - The Company reported net income of $2.1 million, or $0.34 per diluted common share, for the three months ended June 30, 2024, compared to $2.0 million, or $0.31 per diluted common share, for the same period in 2023, reflecting a 5% increase in net income year-over-year [143]. - Net interest income decreased by $0.5 million, or 2.9%, for the six months ended June 30, 2024, compared to the same period in 2023, due to net interest margin compression [145]. - The Company declared cash dividends of $0.10 per share during both the six months ended June 30, 2024 and 2023 [153]. - Non-interest income increased by $72 thousand for the six months ended June 30, 2024, totaling $1.7 million compared to $1.628 million in 2023 [166]. - Total non-interest expense remained stable at $14.4 million for both the six months ended June 30, 2024 and 2023, despite increases in occupancy and professional services expenses [167]. - The provision for income taxes was $1.3 million for both periods, with effective tax rates of 23.0% in 2024 and 24.1% in 2023 [168]. Asset and Loan Management - Total assets increased by 1.0% to $1,083.3 million as of June 30, 2024, compared to $1,072.9 million as of December 31, 2023 [147]. - Total loans decreased by $2.7 million, or 0.3%, as of June 30, 2024, compared to December 31, 2023, indicating a slowdown in loan demand [148]. - The total loan portfolio decreased by $2.7 million, or 0.3%, to $819.1 million as of June 30, 2024, compared to $822.9 million as of December 31, 2023 [174]. - Loans maturing or repricing in one year or less amounted to $248.8 million as of June 30, 2024, compared to $241.2 million as of December 31, 2023 [183]. Credit Quality - Nonperforming assets totaled $2.9 million, or 0.27% of total assets, as of June 30, 2024, a slight improvement from $3.0 million, or 0.28%, as of December 31, 2023 [149]. - The allowance for credit losses on loans and leases was 1.25% of total loans as of June 30, 2024, down from 1.28% as of December 31, 2023 [146]. - No provision for credit losses was recorded for the six months ended June 30, 2024, compared to a provision of $0.6 million for the same period in 2023 [164]. - Net charge-offs were consistent at $0.4 million for the six months ended June 30, 2024, compared to $0.5 million in the prior year [165]. - The net charge-offs for the quarter were $209,000, with a net charge-off percentage of 0.10% of average loans [176]. Deposits and Funding - Deposits increased to $954.5 million as of June 30, 2024, up from $950.2 million as of December 31, 2023, primarily due to increased interest-bearing time deposits [150]. - Total deposits as of June 30, 2024, were $948,634, with interest-bearing deposits totaling $798,254 and a total funding cost of $963,326 [160]. - Core deposits totaled $813.4 million, or 85.2% of total deposits, as of June 30, 2024, compared to $819.5 million, or 86.2% of total deposits, as of December 31, 2023 [180]. - Estimated uninsured deposits totaled $206.7 million, or 21.6% of total deposits, as of June 30, 2024, compared to $200.3 million, or 21.1% of total deposits, as of December 31, 2023 [192]. - Total readily available liquidity was $370.6 million as of June 30, 2024, compared to $375.3 million as of December 31, 2023 [189]. Capital and Equity - Shareholders' equity increased by $3.2 million, or 3.6%, as of June 30, 2024, compared to December 31, 2023, primarily driven by earnings net of dividends paid [152]. - Shareholders' equity totaled $93.8 million, or 8.7% of total assets, as of June 30, 2024, compared to $90.6 million, or 8.4% of total assets, as of December 31, 2023 [182]. - As of June 30, 2024, the Bank's common equity Tier 1 capital and Tier 1 risk-based capital ratios were each 11.28%, with a total capital ratio of 12.47% and a Tier 1 leverage ratio of 9.46% [154]. Investment Portfolio - As of June 30, 2024, the total investment portfolio included available-for-sale securities totaling $144.0 million, representing 99.4% of the portfolio, an increase from $135.6 million (99.2%) as of December 31, 2023 [171]. - The gross unrealized losses in the available-for-sale portfolio decreased to $9.5 million as of June 30, 2024, from $10.1 million as of December 31, 2023 [173]. - Held-to-maturity securities amounted to $0.9 million, or 0.6% of the total investment portfolio, down from $1.1 million (0.8%) as of December 31, 2023 [172]. - The expected average life of securities in the investment portfolio was 4.3 years as of June 30, 2024, compared to 3.9 years as of December 31, 2023 [170]. - The investment securities portfolio had an estimated average life of 4.3 years as of June 30, 2024, compared to 3.9 years as of December 31, 2023 [184]. Strategic Initiatives - During Q2 2024, the Company opened a new banking center in Knoxville, Tennessee, and commenced renovation of a banking center in Daphne, Alabama, expected to open in early 2025 [155]. - The Company maintained excess funding capacity sufficient for loan growth, capital expenditures, and ongoing operations, benefiting from a strong core deposit base and a liquid investment securities portfolio [155]. - The Company purchased $50 million in interest rate floors during Q1 2024 to mitigate risk in down rate scenarios [155]. - The company did not purchase any additional derivative contracts during Q2 2024 [198]. Interest Rate Sensitivity - The average change in net interest margin for a +1% interest rate forecast is $849,000 for 1 year and $1,482,000 for 2 years [197]. - For a -1% interest rate forecast, the average change in net interest margin is -$1,075,000 for 1 year and -$1,956,000 for 2 years [197]. - The net interest margin is projected to change by $1,467,000 for a +2% interest rate forecast over 1 year [197]. - A -2% interest rate forecast results in an average change in net interest margin of -$2,235,000 for 1 year [197]. - The company experienced a net interest margin change of $1,824,000 for a +3% interest rate forecast over 1 year [197]. - For a -3% interest rate forecast, the average change in net interest margin is -$3,274,000 for 1 year [197]. - The company reported a cumulative change in net interest income of $1,482,000 for a +1% interest rate forecast over 2 years [197]. - The cumulative change in net interest income for a -2% interest rate forecast is -$4,406,000 for 2 years [197].

Financial Performance - Net income for 2Q2024 was $2.1 million, or $0.34 per diluted share, unchanged from 1Q2024 and up from $2.0 million, or $0.31 per diluted share in 2Q2023[1]. - Net income for Q2 2024 was $2.1 million, with diluted earnings per share of $0.34, reflecting a year-to-date EPS growth of $0.04 compared to 2023[13]. - Net income for the three months ended June 30, 2024, was $2,127 million, compared to $2,023 million for the same period in 2023, representing an increase of 5.1%[31]. - Basic net income per share for the three months ended June 30, 2024, was $0.36, up from $0.34 in the same period of 2023, reflecting a growth of 5.9%[31]. Interest Income and Expenses - Net interest income for 2Q2024 totaled $9.2 million, an increase from $9.0 million in 1Q2024, but a decrease from $9.3 million in 2Q2023; net interest margin was 3.69% in 2Q2024, down from 3.88% in 2Q2023[5]. - The Company reported a net interest income of $18.22 million for 2Q2024, slightly down from $18.76 million in the previous quarter[28]. - Total interest income for the three months ended June 30, 2024, was $14,546 million, an increase from $12,999 million for the same period in 2023, representing a growth of 11.9%[31]. - Net interest income after provision for credit losses was $9,176 million for the three months ended June 30, 2024, compared to $9,023 million for the same period in 2023, reflecting a slight increase of 1.7%[31]. Non-Interest Income and Expenses - Non-interest income totaled $0.8 million in Q2 2024, consistent with Q2 2023, while total non-interest income for the six months ended June 30, 2024, was $1.7 million, up from $1.6 million in the same period of 2023[18]. - Total non-interest income for the three months ended June 30, 2024, was $835 million, up from $799 million in the same period of 2023, indicating a growth of 4.5%[31]. - Non-interest expense totaled $7.3 million in 2Q2024, compared to $7.1 million in 1Q2024 and $7.2 million in 2Q2023; total non-interest expense for the first six months of 2024 was $14.4 million[8]. - Total non-interest expense increased to $7,272 million for the three months ended June 30, 2024, compared to $7,151 million for the same period in 2023, marking a rise of 1.7%[31]. Loans and Deposits - Total loans decreased by $3.8 million, or 0.5%, in Q2 2024, with a total loan volume of $819.1 million as of June 30, 2024[16]. - Total loans increased to $819.59 million in 2Q2024, up from $792.38 million in 1Q2024, reflecting a growth rate of 3.5%[24]. - Total deposits increased to $948.63 million in 2Q2024, compared to $877.63 million in 1Q2024, representing an increase of 8.1%[28]. - Total deposits increased by $11.2 million, or 1.2%, during 2Q2024, primarily due to growth in non-interest bearing demand and interest-bearing time deposits[45]. Capital and Equity - As of June 30, 2024, the Bank's common equity Tier 1 capital and Tier 1 risk-based capital ratios were each 11.28%, total capital ratio was 12.47%, and Tier 1 leverage ratio was 9.46%[10]. - Shareholders' equity rose to $93.84 million as of June 30, 2024, compared to $90.59 million at the end of 2023[30]. - Shareholders' equity increased to $93.8 million, or 8.66% of total assets, as of June 30, 2024, up from $90.6 million, or 8.44% of total assets, as of December 31, 2023[47]. - Tangible common equity to tangible assets ratio was 8.02% as of June 30, 2024, compared to 7.97% in the previous quarter, indicating improved capital adequacy[41]. Economic Outlook and Management Commentary - Management remains cautiously optimistic about economic conditions, noting that inflation has slowed but may remain higher than market expectations[15]. - The Company anticipates potential risks related to credit losses and competition in the banking industry, which may affect future performance[22]. - The Board of Directors may adjust the dividend policy based on the Company's financial conditions and other relevant factors[22]. Liquidity and Funding - The Company maintained a strong core deposit base and access to various funding sources, ensuring adequate liquidity for loan growth and operations[49]. - The company reported strong liquidity indicators, with access to unsecured brokered deposits and on-balance sheet liquidity providing confidence in funding obligations during stressed environments[63]. - Liquidity from cash and federal funds sold increased to $63,740 thousand as of June 30, 2024, compared to $59,754 thousand as of December 31, 2023[61]. Share Repurchase and Dividends - The Company repurchased 77,000 shares of common stock at a weighted average price of $10.60 per share during 2Q2024, with 382,313 shares remaining available for repurchase[9]. - The Company declared a cash dividend of $0.05 per share for 2Q2024, consistent with previous quarters[19].

Core Insights - The company reported a net income of $2.1 million for Q2 2024, showing a slight increase from $2.1 million in Q1 2024 but a decrease from $2.3 million in Q2 2023 [4][12] - Total assets reached $1,083.3 million as of June 30, 2024, up from $1,072.9 million at the end of 2023 [4][12] - The net interest margin improved to 3.69% in Q2 2024, compared to 3.65% in Q1 2024, but decreased from 3.88% in Q2 2023 [4][12] Financial Performance - Interest income for Q2 2024 was $14.5 million, an increase from $14.3 million in Q1 2024 and $13.9 million in Q4 2023 [4][12] - Net interest income was $9.2 million for Q2 2024, up from $9.0 million in Q1 2024 but down from $9.3 million in Q2 2023 [4][12] - Non-interest income totaled $0.8 million in Q2 2024, consistent with Q2 2023 but down from $0.9 million in Q1 2024 [4][12] Loan and Deposit Trends - Total loans decreased by $3.8 million, or 0.5%, in Q2 2024, primarily due to reductions in commercial and industrial loans [4][12] - Total deposits increased by $11.2 million, or 1.2%, during Q2 2024, driven by growth in non-interest bearing demand and interest-bearing time deposits [4][12] - The allowance for credit losses on loans was 1.25% of total loans as of June 30, 2024, down from 1.28% at the end of 2023 [4][12] Shareholder Metrics - The company declared a cash dividend of $0.05 per share in Q2 2024, consistent with previous quarters [4][12] - Shareholders' equity increased to $93.8 million, or 8.66% of total assets, compared to $90.6 million, or 8.44% of total assets, at the end of 2023 [4][12] - The tangible common equity ratio was 8.02% as of June 30, 2024, up from 7.79% at the end of 2023 [4][12] Strategic Developments - The company opened a new banking center in Knoxville, Tennessee, and began renovations on another center in Daphne, Alabama, as part of its growth strategy [5][12] - Management is focused on enhancing the investment portfolio to take advantage of the higher interest rate environment [12]

BIRMINGHAM, Ala., July 24, 2024 /PRNewswire/ -- First US Bancshares, Inc. (the "Company") (Nasdaq: FUSB) announced today that the Company's Board of Directors has elected Robert C. Field as a director of the Company and its subsidiary, First US Bank (the "Bank"), effective immediately. Mr. Field will serve on the Audit Committee of the Board of Directors of the Company and the Asset/Liability Committee of the Board of Directors of the Bank. Mr. Field graduated Magna Cum Laude from the University of Alabama ...

BIRMINGHAM, Ala., May 22, 2024 /PRNewswire/ -- First US Bancshares, Inc. (Nasdaq: FUSB) (the "Company") announced today that the Company's Board of Directors has declared a cash dividend of $0.05 per share. The dividend is payable on July 1, 2024, to shareholders of record at the close of business on June 7, 2024. "We are pleased to announce a dividend for the fortieth consecutive quarter" stated James F. House, the Company's President and Chief Executive Officer. "We will continue to evaluate future divide ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 Delaware 63-0843362 (State or Other Jurisdiction of Incorporation or Organization) 3291 U.S. Highway 280 Birmingham, AL 35243 (Address of Principal Executive Offices) (Zip Code) Commission File Number: 0-14549 (205) 582-1200 OR (Registrant's Telephone Number, Including Area Code) ☐ TRANSITION ...

First US Bancshares, Inc. Reports First Quarter 2024 Earnings BIRMINGHAM, AL (April 24, 2024) – First Quarter Highlights: | | | | Return on average | Return on average | | | --- | --- | --- | --- | --- | --- | | | Diluted Earnings per | Return on average assets | common equity | tangible common equity | | | Net Income | share | (annualized) | (annualized) | (1) (annualized) | Loans to deposits | | $2.1 million | $0.34 | 0.80% | 9.25% | 10.08% | 87.2% | First US Bancshares, Inc. (Nasdaq: FUSB) (the "Company" ...