United Security Bancshares, Inc. Reports Second Quarter Results
29 July 2016 - 6:20AM
United Security Bancshares, Inc. (Nasdaq:USBI) (the “Company”)
today reported net income of $0.5 million, or $0.07 per diluted
share, for the quarter ended June 30, 2016 and $0.8 million, or
$0.12 per diluted share, for the six months ended June 30, 2016.
The results represent an increase of $0.02 per diluted share
compared to the prior quarter and a decrease of $0.05 per diluted
share compared to the second quarter of 2015.
Second Quarter Highlights
- Loan growth - Net loans increased $34.9 million during the
second quarter, an increase of 13.2% from March 31, 2016, or 52.9%
on an annualized basis. Growth at the Company’s banking subsidiary,
First US Bank (“FUSB” or the “Bank”), totaled $29.4 million during
the quarter, while net loans at the Company’s finance company
subsidiary, Acceptance Loan Company, Inc. (“ALC”), grew $5.5
million during the quarter. Year-to-date growth in net loans as of
June 30, 2016 totaled $43.5 million for the Company, or 34.0% on an
annualized basis. Of the total, $39.2 and $4.3 million was
attributable to FUSB and ALC, respectively.
- Asset quality improvement - Non-performing assets decreased by
$0.6 million during the second quarter to $8.0 million as of June
30, 2016. Non-performing assets as a percentage of total assets
were reduced to 1.33% as of June 30, 2016, compared to 1.50% as of
March 31, 2016 and 1.59% as of December 31, 2015.
- Geographic expansion – The Bank continued efforts to expand its
presence in the Birmingham, Alabama metropolitan area through
the opening of a loan production office in Mountain Brook, a suburb
of Birmingham. In addition, the design and planning phase continued
for a new 40,000 square foot office complex on a parcel of land
located in the Birmingham area along U.S. Highway 280 that was
purchased by the Bank during the first quarter. Construction is
expected to begin during the third quarter, and once completed, the
office complex is intended to serve as the Bank’s focal point in
the Birmingham area. The complex will house a retail branch of the
Bank, as well as the Birmingham commercial lending team and certain
members of the Bank’s executive management team. Approximately 25%
of the square footage of the office complex will be utilized by the
Bank, with the remainder to be leased to commercial tenants. It is
expected that the office complex will be operational by the second
half of 2017.
“We are gratified with the significant level of loan growth that
we experienced during the second quarter at both the Bank and ALC,”
said James F. House, President and Chief Executive Officer of the
Company. “This represents the Company’s third consecutive quarter
of loan growth. The expansion of the Bank’s activities in the
larger metropolitan market of Birmingham has contributed
significantly to growth in the Bank’s commercial loan portfolio. As
we expand the portfolio, we continue to maintain vigilance in our
credit quality standards. This approach has contributed to another
quarter of improved asset quality,” continued Mr. House.
Results of Operations
- Pre-provision net interest income totaled $6.9 million in the
second quarter of 2016, compared to $6.7 million in the prior
quarter. The increase was primarily attributable to loan growth in
the second quarter at both the Bank and ALC. Net yield on
interest-earning assets was 5.19% for the second quarter, compared
to 5.10% for the prior quarter. The improvement in net yield was
driven by a 58 basis point increase in yield on ALC’s loans, offset
in part by an eight basis point decrease at the Bank.For the six
months ended June 30, 2016, pre-provision net interest income
totaled $13.6 million, compared to $13.9 million for the
corresponding period of 2015. The decrease resulted from declining
yields on loans at both FUSB and ALC. Net yield on interest-earning
assets was 5.15% and 5.29% for the six months ended June 30, 2016
and 2015, respectively.
- The provision for loan losses increased to $0.5 million for the
second quarter of 2016, compared to $0.2 million during the
previous quarter. For the six months ended June 30, 2016, the
provision for loan losses totaled $0.7 million, compared to a
negative provision (reduction in reserve) of $0.1 million for the
six months ended June 30, 2015. The increased provisioning for both
the second quarter and first six months of 2016 was due to loan
growth at both the Bank and ALC. Credit quality of the portfolio
continued to improve during the second quarter primarily as a
result of continued reduction in historical loss rates used in the
calculation of the allowance for loan losses. The allowance for
loan losses as a percentage of loans was 1.19% as of June 30, 2016,
compared to 1.26% as of March 31, 2016 and 2.00% as of June 30,
2015.
- Non-interest income totaled $1.5 million in the second quarter
of 2016, compared to $1.0 million in the prior quarter. The
increase resulted primarily from gains on the sale of investment
securities of $0.4 million that were realized during the second
quarter. Non-interest income totaled $2.5 million and $2.4 million
for the six-month periods ended June 30, 2016 and 2015,
respectively.
- Non-interest expense totaled $7.3 million in the second quarter
of 2016, compared to $7.1 million in the prior quarter. For the six
months ended June 30, 2016 and 2015, non-interest expense totaled
$14.3 million and $14.1 million, respectively. Approximately $0.1
million of the increase in both the 2016 second quarter and the six
months ended June 30, 2016 was associated with the closure of one
of the Bank’s branches in Grove Hill, Alabama. The branch closure
resulted from ongoing efforts by Bank management to evaluate the
profitability of branches and make adjustments that will positively
impact the Company’s cost structure over time, while enabling the
Company to continue to effectively serve its customer base. An
additional branch closure in Brent, Alabama is planned for the
third quarter.
“We continue to work through a challenging earnings
environment,” commented Mr. House. “Although we have experienced
solid growth in the Bank’s loan portfolio during the last three
quarters, we continue our efforts to increase loan volume to
a level that will translate into solid earnings performance.
The reduction in non-performing assets and improved credit quality
of the portfolio puts us on solid footing to focus more attention
on our loan growth objectives.”
Balance Sheet Management
- Net loans increased to $298.9 million as of June 30, 2016,
compared to $255.4 million as of December 31, 2015, an increase of
$43.5 million. The loan growth was funded through the Bank’s
available cash balances, growth in deposits and borrowings, and
cash flows generated from the investment securities portfolio. Of
the total loan growth during the six-month period, $21.7 million
represented real estate loans secured by non-farm, non-residential
collateral in the Bank’s portfolio. An additional $12.5 million and
$8.8 million in growth occurred in the Bank’s construction real
estate and commercial and industrial (C&I) portfolios,
respectively. The growth in FUSB’s portfolio is indicative of
management’s ongoing efforts to broaden the Bank’s commercial loan
portfolio with a diversified mix of real estate and C&I loans.
ALC’s loan portfolio grew by $4.3 million during the six months
ended June 30, 2016. This growth was comprised of $8.1 million in
growth in point-of-sale consumer lending with established retail
partners, partially offset by reductions of $1.8 million and $2.0
million in ALC’s real estate and traditional consumer lending
portfolios, respectively. Point-of-sale retail lending continues to
be a primary focus of ALC management, as it broadens the
diversification of ALC’s portfolio with consumer loans that are
generally of higher credit quality than traditional consumer
loans.
- Investment securities totaled $213.2 million as of June 30,
2016, compared to $231.2 million as of December 31, 2015, a
decrease of $18.0 million. The decrease resulted from maturity of
securities, as well as the sale of securities from the Company’s
available-for-sale portfolio. The cash generated from the reduction
of the portfolio was primarily redeployed in the Company’s loan
portfolio. Investment securities serve to both enhance interest
income and provide an additional source of liquidity available to
fund loan growth and capital expenditures.
- Liabilities totaled $523.2 million and $498.8 million as of
June 30, 2016 and December 31, 2015, respectively, an increase of
$24.5 million. The increase resulted from increases in deposits of
$16.4 million and an increase in long-term debt of $10.0 million.
These increases were partially offset by a decrease in short-term
borrowings of approximately $2.0 million. Deposits generated
through the Bank’s branch system are considered the Company’s
primary funding source to meet short- and long-term liquidity
needs. Deposit levels fluctuate throughout the year based on
seasonality, as well as specific circumstances impacting deposit
customers. In addition to deposits, significant external sources of
liquidity are available to the Company, including access to funding
through federal funds lines, Federal Home Loan Bank advances and
brokered deposits.
- Shareholders’ equity increased to $78.5 million, or $13.00 per
common share, as of June 30, 2016, compared to $77.0 million,
or $12.76 per common share, as of December 31, 2015. The increase
in shareholders’ equity resulted from continued growth in retained
earnings and increases in other comprehensive income resulting from
changes in the fair value of investment securities
available-for-sale.
- The Company declared a cash dividend of $0.02 per share on its
common stock in the second quarter of 2016. This amount is
consistent with the Company’s quarterly dividend declarations
during the first quarter of 2016 and for each quarter of 2015.
- During the second quarter, the Bank continued to maintain
capital ratios at higher levels than the ratios required to be
considered a “well-capitalized” institution under applicable
banking regulations. The Bank’s common equity Tier 1 capital and
Tier 1 risk-based capital ratios were 19.66%, its total capital
ratio was 20.63%, and its Tier 1 leverage ratio was 12.62%.
About United Security Bancshares, Inc.
United Security Bancshares, Inc. is a bank
holding company that operates banking offices in Alabama through
First US Bank. In addition, the Company’s operations include
Acceptance Loan Company, Inc., a consumer loan company, and FUSB
Reinsurance, Inc., an underwriter of credit life and credit
accident and health insurance policies sold to the Bank’s and ALC’s
consumer loan customers. The Company’s stock is traded on the
Nasdaq Capital Market under the symbol “USBI.”
Forward-Looking Statements
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 issues
that involve significant risks, uncertainties, estimates and
assumptions made by management. The Company undertakes no
obligation to update these statements following 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 concerning the matters described
herein. Such forward-looking statements are necessarily estimates
reflecting the best judgment of the Company’s senior management
based upon current information and involve a number of risks and
uncertainties. Certain factors that could affect the accuracy of
such forward-looking statements are identified in the public
filings made by the Company with the Securities and Exchange
Commission, and forward-looking statements contained in this press
release or in other public statements of the Company or its senior
management should be considered in light of those factors.
Specifically, with respect to statements relating to loan demand,
growth and earnings potential, geographic expansion and the
adequacy of the allowance for loan losses for the Company, these
factors include, but are not limited to, the rate of growth (or
lack thereof) in the economy generally and in the Bank’s and ALC’s
service areas, the availability of quality loans in the Bank’s and
ALC’s service areas, the relative strength and weakness in the
consumer and commercial credit sectors and in the real estate
markets and collateral values. There can be no assurance that such
factors or other factors will not affect the accuracy of such
forward-looking statements.
|
|
UNITED SECURITY BANCSHARES, INC. AND
SUBSIDIARIESSELECTED FINANCIAL DATA – LINKED
QUARTERS(Dollars in Thousands, Except Per Share
Data) |
|
|
|
|
|
Quarter Ended |
|
|
|
2016 |
|
|
2015 |
|
|
|
June30, |
|
|
March31, |
|
|
December31, |
|
|
September30, |
|
|
June30, |
|
Results of
Operations: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income |
|
$ |
7,478 |
|
|
$ |
7,196 |
|
|
$ |
7,513 |
|
|
$ |
7,328 |
|
|
$ |
7,735 |
|
Interest
expense |
|
|
561 |
|
|
|
535 |
|
|
|
549 |
|
|
|
561 |
|
|
|
565 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income |
|
|
6,917 |
|
|
|
6,661 |
|
|
|
6,964 |
|
|
|
6,767 |
|
|
|
7,170 |
|
Provision
(reduction in reserve) for loan losses |
|
|
536 |
|
|
|
167 |
|
|
|
415 |
|
|
|
(78 |
) |
|
|
45 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
interest income after provision (reduction in reserve) for loan
losses |
|
|
6,381 |
|
|
|
6,494 |
|
|
|
6,549 |
|
|
|
6,845 |
|
|
|
7,125 |
|
Non-interest income |
|
|
1,480 |
|
|
|
989 |
|
|
|
1,176 |
|
|
|
996 |
|
|
|
1,068 |
|
Non-interest expense |
|
|
7,255 |
|
|
|
7,066 |
|
|
|
7,203 |
|
|
|
7,090 |
|
|
|
7,107 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
before income taxes |
|
|
606 |
|
|
|
417 |
|
|
|
522 |
|
|
|
751 |
|
|
|
1,086 |
|
Provision
for income taxes |
|
|
144 |
|
|
|
100 |
|
|
|
81 |
|
|
|
207 |
|
|
|
312 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net
income |
|
$ |
462 |
|
|
$ |
317 |
|
|
$ |
441 |
|
|
$ |
544 |
|
|
$ |
774 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Per Share
Data: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic net
income per share |
|
$ |
0.08 |
|
|
$ |
0.05 |
|
|
$ |
0.07 |
|
|
$ |
0.09 |
|
|
$ |
0.13 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Diluted
net income per share |
|
$ |
0.07 |
|
|
$ |
0.05 |
|
|
$ |
0.07 |
|
|
$ |
0.09 |
|
|
$ |
0.12 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Dividends
declared |
|
$ |
0.02 |
|
|
$ |
0.02 |
|
|
$ |
0.02 |
|
|
$ |
0.02 |
|
|
$ |
0.02 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Period-End Balance Sheet: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total
assets |
|
$ |
601,754 |
|
|
$ |
575,582 |
|
|
$ |
575,782 |
|
|
$ |
548,537 |
|
|
$ |
560,650 |
|
Loans,
net of allowance for loan losses |
|
|
298,901 |
|
|
|
263,975 |
|
|
|
255,432 |
|
|
|
237,715 |
|
|
|
244,993 |
|
Allowance
for loan losses |
|
|
3,591 |
|
|
|
3,375 |
|
|
|
3,781 |
|
|
|
4,345 |
|
|
|
5,008 |
|
Investment securities, net |
|
|
213,165 |
|
|
|
231,466 |
|
|
|
231,202 |
|
|
|
239,009 |
|
|
|
246,176 |
|
Total deposits |
|
|
495,618 |
|
|
|
485,537 |
|
|
|
479,258 |
|
|
|
463,266 |
|
|
|
471,141 |
|
Long-term
debt |
|
|
15,000 |
|
|
|
5,000 |
|
|
|
5,000 |
|
|
|
- |
|
|
|
5,000 |
|
Total
shareholders’ equity |
|
|
78,525 |
|
|
|
77,727 |
|
|
|
77,030 |
|
|
|
76,283 |
|
|
|
75,783 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Key
Ratios: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on
average assets (annualized) |
|
|
0.31 |
% |
|
|
0.22 |
% |
|
|
0.31 |
% |
|
|
0.39 |
% |
|
|
0.55 |
% |
Return on
average equity (annualized) |
|
|
2.30 |
% |
|
|
1.65 |
% |
|
|
2.28 |
% |
|
|
2.84 |
% |
|
|
4.09 |
% |
Loans to
deposits |
|
|
60.3 |
% |
|
|
54.4 |
% |
|
|
53.3 |
% |
|
|
51.3 |
% |
|
|
52.0 |
% |
Allowance
for loan losses as % of loans |
|
|
1.19 |
% |
|
|
1.26 |
% |
|
|
1.46 |
% |
|
|
1.80 |
% |
|
|
2.00 |
% |
Nonperforming assets as % of total assets |
|
|
1.33 |
% |
|
|
1.50 |
% |
|
|
1.59 |
% |
|
|
1.98 |
% |
|
|
1.96 |
% |
UNITED SECURITY BANCSHARES, INC. AND
SUBSIDIARIESINTERIM CONDENSED CONSOLIDATED BALANCE
SHEETS(Dollars in Thousands, Except Share and Per Share
Data) |
|
|
|
|
|
June30, |
|
|
December31, |
|
|
|
2016 |
|
|
2015 |
|
|
|
(Unaudited) |
|
|
|
|
|
ASSETS |
|
Cash and due from
banks |
|
$ |
9,372 |
|
|
$ |
7,088 |
|
Interest-bearing
deposits in banks |
|
|
33,353 |
|
|
|
36,984 |
|
Total
cash and cash equivalents |
|
|
42,725 |
|
|
|
44,072 |
|
Investment securities
available-for-sale, at fair value |
|
|
179,613 |
|
|
|
198,843 |
|
Investment securities
held-to-maturity, at amortized cost |
|
|
33,552 |
|
|
|
32,359 |
|
Federal Home Loan Bank
stock, at cost |
|
|
1,368 |
|
|
|
1,025 |
|
Loans, net of allowance
for loan losses of $3,591 and $3,781, respectively |
|
|
298,901 |
|
|
|
255,432 |
|
Premises and equipment,
net |
|
|
14,960 |
|
|
|
12,084 |
|
Cash surrender value of
bank-owned life insurance |
|
|
14,448 |
|
|
|
14,292 |
|
Accrued interest
receivable |
|
|
1,804 |
|
|
|
1,833 |
|
Other real estate
owned |
|
|
5,405 |
|
|
|
6,038 |
|
Other assets |
|
|
8,978 |
|
|
|
9,804 |
|
Total
assets |
|
$ |
601,754 |
|
|
$ |
575,782 |
|
|
|
|
|
|
|
|
|
|
LIABILITIES AND SHAREHOLDERS’
EQUITY |
|
Deposits |
|
$ |
495,618 |
|
|
$ |
479,258 |
|
Accrued interest
expense |
|
|
233 |
|
|
|
180 |
|
Other liabilities |
|
|
7,026 |
|
|
|
6,960 |
|
Short-term
borrowings |
|
|
5,352 |
|
|
|
7,354 |
|
Long-term debt |
|
|
15,000 |
|
|
|
5,000 |
|
Total
liabilities |
|
|
523,229 |
|
|
|
498,752 |
|
|
|
|
|
|
|
|
|
|
Shareholders’
equity: |
|
|
|
|
|
|
|
|
Common stock, par value
$0.01 per share, 10,000,000 shares authorized; |
|
|
|
|
|
|
|
|
7,329,060
shares issued; 6,038,554 shares outstanding |
|
|
73 |
|
|
|
73 |
|
Surplus |
|
|
10,713 |
|
|
|
10,558 |
|
Accumulated other
comprehensive income, net of tax |
|
|
1,338 |
|
|
|
536 |
|
Retained earnings |
|
|
87,231 |
|
|
|
86,693 |
|
Less treasury stock:
1,290,506 shares at cost |
|
|
(20,817 |
) |
|
|
(20,817 |
) |
Noncontrolling
interest |
|
|
(13 |
) |
|
|
(13 |
) |
|
|
|
|
|
|
|
|
|
Total
shareholders’ equity |
|
|
78,525 |
|
|
|
77,030 |
|
|
|
|
|
|
|
|
|
|
Total
liabilities and shareholders’ equity |
|
$ |
601,754 |
|
|
$ |
575,782 |
|
UNITED SECURITY BANCSHARES, INC. AND
SUBSIDIARIESINTERIM CONDENSED CONSOLIDATED STATEMENTS OF
OPERATIONS(Dollars in Thousands, Except Per Share
Data) |
|
|
|
|
|
Three Months Ended |
|
|
Six Months Ended |
|
|
|
June 30, |
|
|
June 30, |
|
|
|
2016 |
|
|
2015 |
|
|
2016 |
|
|
2015 |
|
|
|
(Unaudited) |
|
Interest income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
and fees on loans |
|
$ |
6,366 |
|
|
$ |
6,520 |
|
|
$ |
12,419 |
|
|
$ |
12,655 |
|
Interest
on investment securities |
|
|
1,112 |
|
|
|
1,215 |
|
|
|
2,255 |
|
|
|
2,401 |
|
Total
interest income |
|
|
7,478 |
|
|
|
7,735 |
|
|
|
14,674 |
|
|
|
15,056 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest
on deposits |
|
|
513 |
|
|
|
557 |
|
|
|
1,036 |
|
|
|
1,164 |
|
Interest
on borrowings |
|
|
48 |
|
|
|
8 |
|
|
|
60 |
|
|
|
15 |
|
Total
interest expense |
|
|
561 |
|
|
|
565 |
|
|
|
1,096 |
|
|
|
1,179 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest
income |
|
|
6,917 |
|
|
|
7,170 |
|
|
|
13,578 |
|
|
|
13,877 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Provision (reduction in
reserve) for loan losses |
|
|
536 |
|
|
|
45 |
|
|
|
703 |
|
|
|
(121 |
) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Net interest income
after provision (reduction in reserve) for loan losses |
|
|
6,381 |
|
|
|
7,125 |
|
|
|
12,875 |
|
|
|
13,998 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
income: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Service
and other charges on deposit accounts |
|
|
426 |
|
|
|
472 |
|
|
|
843 |
|
|
|
926 |
|
Credit
insurance income |
|
|
162 |
|
|
|
114 |
|
|
|
314 |
|
|
|
189 |
|
Other
income, net |
|
|
496 |
|
|
|
398 |
|
|
|
914 |
|
|
|
883 |
|
Net gain
on sales and prepayments of investment securities |
|
|
396 |
|
|
|
84 |
|
|
|
398 |
|
|
|
361 |
|
Total
non-interest income |
|
|
1,480 |
|
|
|
1,068 |
|
|
|
2,469 |
|
|
|
2,359 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Non-interest
expense: |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Salaries
and employee benefits |
|
|
4,236 |
|
|
|
4,215 |
|
|
|
8,400 |
|
|
|
8,407 |
|
Net
occupancy and equipment |
|
|
782 |
|
|
|
780 |
|
|
|
1,551 |
|
|
|
1,603 |
|
Other
real estate/foreclosure expense, net |
|
|
129 |
|
|
|
347 |
|
|
|
246 |
|
|
|
567 |
|
Other
expense |
|
|
2,108 |
|
|
|
1,765 |
|
|
|
4,124 |
|
|
|
3,507 |
|
Total
non-interest expense |
|
|
7,255 |
|
|
|
7,107 |
|
|
|
14,321 |
|
|
|
14,084 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Income
before income taxes |
|
|
606 |
|
|
|
1,086 |
|
|
|
1,023 |
|
|
|
2,273 |
|
Provision
for income taxes |
|
|
144 |
|
|
|
312 |
|
|
|
244 |
|
|
|
663 |
|
Net
income |
|
$ |
462 |
|
|
$ |
774 |
|
|
$ |
779 |
|
|
$ |
1,610 |
|
Basic net
income per share |
|
$ |
0.08 |
|
|
$ |
0.13 |
|
|
$ |
0.13 |
|
|
$ |
0.26 |
|
Diluted
net income per share |
|
$ |
0.07 |
|
|
$ |
0.12 |
|
|
$ |
0.12 |
|
|
$ |
0.25 |
|
Dividends
per share |
|
$ |
0.02 |
|
|
$ |
0.02 |
|
|
$ |
0.04 |
|
|
$ |
0.04 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Contact:
Thomas S. Elley
334-636-5424
First US Bancshares (NASDAQ:FUSB)
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