First US Bancshares Reports 2024 Earnings Results

First Us Bancshares ( (FUSB) ) has released its Q4 earnings. Here is a breakdown of the information First Us Bancshares presented to its investors.

First US Bancshares, Inc. is a bank holding company operating in Alabama, Tennessee, and Virginia through its subsidiary, First US Bank, offering a range of financial services. In its recent earnings report, First US Bancshares announced a net income of $1.7 million for the fourth quarter of 2024 and $8.2 million for the full year, showcasing a slight decline compared to the previous year. The earnings per share remained consistent year-over-year, with a full-year diluted earnings per share of $1.33. The company experienced a 2.5% growth in total loan volume during the fourth quarter but faced challenges in maintaining net interest income due to changes in federal funds and market interest rates. The company also reported an increase in nonperforming assets due to specific loan issues, although they continued to maintain a solid liquidity position and shareholder equity growth. Looking ahead, First US Bancshares remains focused on growing its earning assets and managing funding costs effectively in response to the evolving interest rate environment.