First US Bancshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
October 25, 2023 at 04:15 pm EDT
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First US Bancshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 9.48 million compared to USD 9.52 million a year ago. Net income was USD 2.11 million compared to USD 1.86 million a year ago. Basic earnings per share from continuing operations was USD 0.35 compared to USD 0.31 a year ago. Diluted earnings per share from continuing operations was USD 0.33 compared to USD 0.29 a year ago.
For the nine months, net interest income was USD 28.24 million compared to USD 27.05 million a year ago. Net income was USD 6.21 million compared to USD 4.64 million a year ago. Basic earnings per share from continuing operations was USD 1.04 compared to USD 0.76 a year ago. Diluted earnings per share from continuing operations was USD 0.97 compared to USD 0.71 a year ago.
First US Bancshares, Inc. is a bank holding company. The Company operates one banking subsidiary, First US Bank, an Alabama banking corporation (the Bank). The Bank conducts a general commercial banking business and offers banking services, such as demand, savings, individual retirement account and time deposits, personal and commercial loans, safe deposit box services and remote deposit capture. The Bank provides a range of commercial banking services to small-and medium-sized businesses, property managers, business executives, professionals and other individuals. The Bank also performs indirect lending through third-party retailers and conducts this lending in 17 states, including Alabama, Arkansas, Florida, Georgia, Indiana, Kansas, Kentucky, and others. It operates and serves its customers through 15 full-service banking offices located in Birmingham, Butler, Calera, Centreville, and others. It also has loan production offices in Mobile, Alabama and the Chattanooga, Tennessee area.