First US Bancshares adopts 2023 cash incentive program for executives

FIRST US BANCSHARES, INC.

Target bonus: 45% of base salary for CEO James F. House, 35% for CFO Thomas S. Elley and EVP William C. Mitchell.
Performance metrics: consolidated pre-tax income (25%), ROAA (25-30%), ROATE (15-25%), and loan growth for Mitchell (15%).
Bonus can be reduced up to 35% based on regulatory rating deterioration or negative findings.
Includes a discretionary component (20% of total) based on strategic goals, shareholder return, and cost control.
Provides for recoupment if financial results are restated or performance metrics found materially inaccurate.

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