BIRMINGHAM, Ala., Feb. 21,
2024 /PRNewswire/ -- First US Bancshares, Inc.
(Nasdaq: FUSB) (the "Company") announced today that the Company's
Board of Directors has declared a cash dividend of $0.05 per share. The dividend is payable on
April 1, 2024, to shareholders of
record at the close of business on March
8, 2024.
"We are pleased to announce a dividend for the thirty-ninth
consecutive quarter" stated James F.
House, the Company's President and Chief Executive Officer.
"We will continue to evaluate future dividend payments to ensure
the Company's shareholders are rewarded, while maintaining a strong
capital base," concluded Mr. House.
About First US 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").
The Company files periodic reports with the U.S. Securities and
Exchange Commission (the "SEC"). Copies of its filings may be
obtained through the SEC's website at www.sec.gov or at
www.firstusbank.com. More information about the Company and
the Bank may be obtained at www.firstusbank.com. The
Company's stock is traded on the Nasdaq Capital Market under the
symbol "FUSB."
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 and cause actual results to differ
materially from those projected in such forward-looking statements
are identified in the Company's filings with the Securities and
Exchange Commission ("SEC"), and forward-looking statements
contained herein or in other public statements of the Company or
its senior management should be considered in light of those
factors. Such factors may include risk related to the Company's
credit, including that if loan losses may be greater than
anticipated; the impact of national and local market conditions on
the Company's business and operations; the rate of growth (or lack
thereof) in the economy generally and in the Company's service
areas; strong competition in the banking industry; the impact of
changes in interest rates and monetary policy on the Company's
performance and financial condition; the discontinuation of LIBOR
as an interest rate benchmark; the impact of technological changes
in the banking and financial service industries and potential
information system failures; cybersecurity and data privacy
threats; the costs of complying with extensive governmental
regulation; the impact of changing accounting standards and
tax laws on the Company's allowance for credit losses and financial
results; the possibility that acquisitions may not produce
anticipated results and result in 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 and
subsequent Quarterly Reports on Form 10-Q. Relative to the
Company's dividend policy, the payment of cash dividends is subject
to the discretion of the Board of Directors and will be determined
in light of then-current conditions, including the Company's
earnings, leverage, operations, financial conditions, capital
requirements and other factors deemed relevant by the Board of
Directors. In the future, the Board of Directors may change the
Company's dividend policy, including the frequency or amount of any
dividend, in light of then-existing conditions.
Contact:
|
Thomas S. Elley
|
|
(205)
582-1200
|
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SOURCE First US Bancshares, Inc.