BIRMINGHAM, AL, Aug. 24, 2022 (GLOBE NEWSWIRE) — First US Bancshares, Inc. (Nasdaq: FUSB) (the “Company”) today announced that the Company’s Board of Directors has declared a cash dividend of $0.03 per share. The dividend is payable on October 3, 2022 to shareholders of record at the close of business on September 9, 2022.
“We are pleased to announce a dividend for the thirty-third consecutive quarter,” said James F. House, President and Chief Executive Officer of the Company. “We will continue to assess any future dividend payments to ensure they are consistent with our commitment to maintaining our strong capital base and rewarding our shareholders,” Mr. House concluded.
About First United States Bancshares, Inc.
First US Bancshares, Inc. is a bank holding company that operates banking offices in Alabama, Tennessee and Virginia through First US Bank (the “Bank”). In addition, the Company’s businesses include Acceptance Loan Company, Inc., a consumer lending company (“ALC”), and FUSB Reinsurance, Inc., an underwriter of life insurance policies and insurance against accidents and credit health sold to consumers from the Bank and ALC. lending customers. The Company files periodic reports with the United States Securities and Exchange Commission (the “SEC”). Copies of its filings may be obtained from the SEC’s website at www.sec.gov or www.firstusbank.com. Further information about the Company and the Bank can be obtained at www.firstusbank.com. The Company’s shares are traded on the Nasdaq Capital Market under the symbol “FUSB”.
This press release contains forward-looking statements, as defined by federal securities laws. Statements contained in this press release that are not historical facts are forward-looking statements. These statements may address matters that involve significant risks, uncertainties, estimates and assumptions made by management. The Company undertakes no obligation to update these statements after the date of this press release, except as required by law. In addition, the Company, through its senior management, may make from time to time forward-looking public statements regarding the matters described herein. These forward-looking statements are necessarily estimates reflecting the best judgment of the Company’s senior management based on current information and involve a number of risks and uncertainties.
Certain factors that could affect the accuracy of these forward-looking statements and cause actual results to differ materially from those projected in such forward-looking statements are identified in the Company’s public filings with the SEC, and the forward-looking statements contained in this press release or other public statements by the Company or its senior management should be considered. the light at these factors. Such The factors may include the rate of growth (or lack thereof) in the general economy and in the service areas of the Company; the impact of the current COVID-19 pandemic on the Company’s business, the Company’s customers, the communities the Company serves and the United States economy, including the impact of actions taken by authorities to attempt to contain the virus and protect against it, through vaccinations and otherwise, or to address the impact of the virus on the United States economy (including, but not limited to, the CARES Act (Coronavirus Aid, Relief and Economic Security) and subsequent federal legislation) and the resulting effect on the operations, liquidity and capital position and on the financial condition of the Company’s borrowers and other customers; the impact of changes in accounting standards and tax laws on the provision for loan losses and the Company’s financial results; national and local impact market conditions on the business and operations of the Company; strong competition in the banking sector; the impact of interest rate changes and monetary policy on the performance and financial situation of the Company; the impending abandonment of LIBOR as the benchmark interest rate; the impact of technological changes in the banking and financial services industries and potential failures of information systems; cyber security and data privacy threats; costs of compliance with extensive government regulation; the possibility that acquisitions may not produce the expected results and cause unforeseen integration difficulties; and other risk factors described from time to time in the Company’s public filings, including, but not limited to, the Company’s most recent Annual Report on Form 10-K. Relativee to the company dividend policy, the payment of cash dividends is subject to the discretion of the the Board of Directors and will be determined in light of the terms then in effect, including profits, indebtedness, operations, financial conditions, capital and other requirementsr factors deemed relevant by the Board of Directors. In the future, the Bthe board of directors may modify the dividend policy, including the frequency or amount of any dividends, the light at then existing conditions.