First US Bancshares(US:FUSB)2026-01-28 21:20Financial Performance - Fourth quarter net income for 2025 was $2.1 million, a 10% increase from $1.9 million in the previous quarter and a 24% increase from $1.7 million in the same quarter of 2024[1]. - For the full year 2025, net income totaled $6.0 million, down from $8.2 million in 2024, resulting in diluted earnings per share of $1.00 compared to $1.33[1]. - Net income for Q4 2025 was $2,129,000, up from $1,936,000 in Q4 2024, reflecting an increase of about 9.9%[49]. - The company reported a total net income of $5,992,000 for the year ended December 2025, down from $8,170,000 in the previous year, a decline of about 26.7%[49]. Income and Expenses - Net interest income for the fourth quarter was $9.423 million, a slight decrease from $9.662 million in the previous quarter, while total interest income was $15.262 million[3]. - Non-interest income for the fourth quarter was $995,000, up from $860,000 in the previous quarter[3]. - Total non-interest expense for the year ended December 31, 2025, was $29,070 million, an increase of 2.5% from $28,356 million in 2024[36]. - Net interest income after provision for credit losses for the year ended December 31, 2025, was $33,427 million, down 5.9% from $35,527 million in 2024[36]. Asset and Loan Management - Total assets increased to $1.154 billion as of December 31, 2025, compared to $1.147 billion at the end of the previous quarter[3]. - Total loans decreased to $853.018 million from $867.520 million in the previous quarter[3]. - Total loans decreased by $14.5 million in 4Q2025, with an annual increase of $30.0 million, or 3.6% for the year ended December 31, 2025[6]. - Loans and leases held for investment rose to $853,018,000 in 2025, compared to $823,039,000 in 2024, marking a 3.6% increase[34]. Credit Quality - The provision for credit losses decreased significantly to $220,000 in the fourth quarter from $566,000 in the previous quarter, indicating improved credit quality[3]. - The provision for credit losses totaled $4.0 million for the year ended December 31, 2025, compared to $0.6 million for the year ended December 31, 2024[10]. - Nonperforming assets decreased to $1.6 million, or 0.14% of total assets, as of December 31, 2025, from $5.5 million, or 0.50%, a year earlier[14]. Shareholder Information - Shareholders' equity increased to $105.6 million, or 9.15% of total assets, as of December 31, 2025, from $98.6 million, or 8.96%, a year earlier[18]. - Cash dividends declared totaled $0.28 per share for the year ended December 31, 2025, compared to $0.22 per share for the previous year[19]. - Average shareholders' equity for the year ended December 2025 was $102,232,000, compared to $94,750,000 for the year ended December 2024, reflecting a growth of approximately 7.8%[49]. Operational Developments - The Company opened a new automated banking facility in Mountain Brook, Alabama, and continued renovations on a banking center in Daphne, Alabama, expected to open in the first half of 2026[23]. - The company expressed optimism for 2026, citing improved loan portfolio credit metrics and reduced nonperforming assets[4]. Yield and Margin - The average yield on loans was 6.03% in 4Q2025, down from 6.10% in 3Q2025 and 6.12% in 4Q2024[6]. - The net interest margin for Q4 2025 was 3.46%, up from 3.41% in Q4 2024[30]. - The company reported a net interest margin of 3.54% for the year ended December 31, 2025, compared to 3.59% in 2024[32].