U.S. Markets close in 4 hrs 57 mins

FIRST US BANCSHARES, INC. DECLARES CASH DIVIDEND

Dividend to Increase by 50% Over Prior Quarter


────────

BIRMINGHAM, Ala., Nov. 21, 2019 (GLOBE NEWSWIRE) --  First US Bancshares, Inc. (the “Company”) (FUSB) announced today that its Board of Directors has declared a cash dividend of $0.03 per share, an increase of $0.01 from the prior quarter.  The dividend is payable on January 2, 2020 to shareholders of record at the close of business on December 12, 2019. 

“We are pleased to announce that, at its meeting on November 20th, the Company’s Board of Directors approved the payment of a quarterly cash dividend of $0.03 per share to our shareholders, which is an increase of $0.01 from last quarter,” stated James F. House, President and Chief Executive Officer of the Company.  “We have paid a quarterly cash dividend for twenty-two consecutive quarters. The 50% increase in the dividend is a reflection of our strong capital base and the improvement in earnings that we experienced during the first nine months of 2019,” 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”).  In addition, the Company’s operations include Acceptance Loan Company, Inc., a consumer loan company (“ALC”), 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 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 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 the sufficiency of the allowance for loan and lease losses, loan demand, cash flows, growth and earnings potential and expansion, 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, market conditions and investment returns, 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, collateral values and cybersecurity threats. With respect to statements relating to the Company’s acquisition of The Peoples Bank, these factors include, but are not limited to, difficulties, delays and unanticipated costs in integrating the organizations’ businesses or realized expected cost savings and other benefits; business disruptions as a result of the integration of the organizations, including possible loss of customers; diversion of management time to address acquisition-related issues; and changes in asset quality and credit risk as a result of the acquisition. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.

Contact: Thomas S. Elley
(205) 582-1200