First US Bancshares Q1 net income $2.1M ($0.34 EPS); NIM compresses to 3.65%

FIRST US BANCSHARES, INC.

2024-Q1 EPS reported $0.34 revenue$299,000

Net income $2.1M vs $2.3M in Q4 2023; diluted EPS $0.34 vs $0.36.
Net interest margin fell to 3.65% from 4.13% a year ago; interest expense rose to $5.2M.
Total loans grew $1.2M to $822.9M; deposits decreased $6.9M to $943.3M.
No provision for credit losses booked in Q1; nonperforming assets flat at $3.0M (0.28% of assets).
Dividend maintained at $0.05/share; new banking centers planned in Knoxville, TN and Daphne, AL.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

FIRST US BANCSHARES, INC. reported the quarter ended March 31, 2024 results: net income $2.1 million, EPS $0.34 per diluted share.

Period: the quarter ended March 31, 2024
Net income: $2.1 million
EPS: $0.34 per diluted share
Result: reported results

Exact text from the filing

On April 24, 2024, First US Bancshares, Inc. issued a press release announcing financial results for the quarter ended March 31, 2024.

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Source: SEC EDGAR

accession 0000950170-24-047607

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