First US Bancshares, Inc. reported its financial results for the third quarter of 2025, revealing a net income of $1.9 million, or $0.32 per diluted share, a decrease from $2.2 million, or $0.36 per diluted share, in the same period last year. For the nine months ending September 30, 2025, net income totaled $3.9 million, down from $6.5 million in the prior year. The decline in profitability was attributed primarily to an increase in the provision for credit losses, which rose to $3.8 million from $0.2 million, and a rise in non-interest expenses, partially offset by an increase in net interest income.

Total assets for the company increased by 4.2% to $1.147 billion as of September 30, 2025, compared to $1.101 billion at the end of 2024. The growth in assets was driven by a 5.4% increase in total loans, which reached $867.5 million, primarily due to a significant rise in consumer indirect loans. The company’s allowance for credit losses on loans and leases stood at $10.7 million, representing 1.23% of total loans, a slight decrease from 1.24% at the end of 2024.

In terms of operational metrics, First US Bancshares reported a total deposit increase of $29.9 million, or 3.1%, to $1.002 billion, with core deposits making up 83.6% of total deposits. The company also noted a rise in its employee headcount to 151 full-time equivalents. The bank's strategic focus on consumer indirect lending has shown positive results, with the average credit score of new loans financed during the nine months ending September 30, 2025, being 798.

Looking ahead, the company remains cautious about the economic environment, which has been characterized by volatility due to factors such as inflation and geopolitical unrest. Management indicated that while they are focused on maintaining liquidity and managing interest rate risk, the potential for increased credit losses remains a concern. The company plans to continue monitoring its loan portfolio closely and adapt its strategies to navigate the evolving market conditions.

About FIRST US BANCSHARES, INC.

First US Bancshares, Inc. is a bank holding company operating First US Bank, a community-focused financial institution offering commercial banking services, including deposits, loans, and treasury services. Serving small to medium-sized businesses and individuals across multiple states, it emphasizes strong credit standards, digital banking, and strategic growth through organic expansion and acquisitions. The company operates in a heavily regulated environment, prioritizing safety, soundness, and community development.

This description was generated via AI from an annual report. Updated 9 months ago.

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