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26.07.2023 16:15
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PR Newswire
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First US Bancshares, Inc. Reports Second Quarter and Year-to-Date Earnings: Six-month EPS Growth of 52% Over 2022
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PR Newswire
BIRMINGHAM, Ala., July 26, 2023
BIRMINGHAM, Ala., July 26, 2023 /PRNewswire/ -- Second Quarter Highlights:
| Net Income | Diluted Earnings per share | Return on average assets | Return on average common | Return on average tangible | Loans to deposits |
| $2.0 million | $0.31 | 0.79 % | 9.48 % | 10.41 % | 87.3 % |
First US Bancshares, Inc. (Nasdaq: FUSB) (the "Company"), the parent company of First US Bank (the "Bank"), today reported net income of $2.0 million, or $0.31 per diluted share, for the quarter ended June 30, 2023 ("2Q2023"), compared to $2.1 million, or $0.33 per diluted share, for the quarter ended March 31, 2023 ("1Q2023") and $1.4 million, or $0.22 per diluted share, for the quarter ended June 30, 2022 ("2Q2022"). Net income totaled $4.1 million, or $0.64 per diluted share, for the six months ended June 30, 2023, compared to $2.8 million, or $0.42 per diluted share, for the six months ended June 30, 2022, an increase of 52.4% on diluted earnings per share.
The table below summarizes selected financial data for each of the periods presented.
| | | Quarter Ended | | | Six Months Ended | | ||||||||||||||||||||||
| | | 2023 | | | 2022 | | | 2023 | | | 2022 | | ||||||||||||||||
| | | June | | | March | | | December | | | September | | | June | | | June | | | June | | |||||||
| Results of Operations: | | (Unaudited) | | | (Unaudited) | | | (Unaudited) | | | (Unaudited) | | | (Unaudited) | | | (Unaudited) | | | (Unaudited) | | |||||||
| Interest income | | $ | 12,999 | | | $ | 11,960 | | | $ | 11,621 | | | $ | 10,670 | | | $ | 9,525 | | | $ | 24,959 | | | $ | 18,906 | |
| Interest expense | | | 3,676 | | | | 2,526 | | | | 1,730 | | | | 1,155 | | | | 699 | | | | 6,202 | | | | 1,371 | |
| Net interest income | | | 9,323 | | | | 9,434 | | | | 9,891 | | | | 9,515 | | | | 8,826 | | | | 18,757 | | | | 17,535 | |
| Provision for credit losses | | | 300 | | | | 269 | | | | 527 | | | | 1,165 | | | | 895 | | | | 569 | | | | 1,616 | |
| Net interest income after provision for credit losses | | | 9,023 | | | | 9,165 | | | | 9,364 | | | | 8,350 | | | | 7,931 | | | | 18,188 | | | | 15,919 | |
| Non-interest income | | | 799 | | | | 829 | | | | 678 | | | | 1,088 | | | | 856 | | | | 1,628 | | | | 1,685 | |
| Non-interest expense | | | 7,151 | | | | 7,270 | | | | 7,106 | | | | 7,032 | | | | 6,878 | | | | 14,421 Werbung Mehr Nachrichten zur First US Bancshares, Inc. Common Stock Aktie kostenlos abonnieren
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