First US Bancshares Q3 net income $2.2M ($0.36 EPS), up from $0.33 YoY; NIM declines to 3.60%

FIRST US BANCSHARES, INC.

2024-Q3 EPS reported $1.04 revenue$909,000

Net income $2.2M, diluted EPS $0.36 vs $0.33 in Q3 2023; nine-month EPS $1.04 vs $0.97.
Net interest margin 3.60% vs 3.79% a year ago; net interest income flat QoQ at $9.2M.
Total loans down $15.8M (1.9%) in Q3 2024; core deposits up $26.7M (2.8%).
Nonperforming assets $6.6M (0.60% of assets) vs $3.0M (0.28% at Dec 2023) due to two loans.
Dividend maintained at $0.05/share; 29,500 shares repurchased in Q3 at weighted avg $10.83.

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