First US Bancshares Q2 Profit Jumps on Loan Growth, Lower Deposit Costs
FUSB sits 60% above its 52-week low of $10.3.
Summary
First US Bancshares reported Q2 EPS of $0.31, driven by loan growth in construction and indirect consumer lending, and improved net interest margin to 3.56% from lower deposit costs. Net interest income rose to $9.5 million, and the company repurchased 91,000 shares during the quarter. The results follow a Q1 that saw rising nonperforming assets and charge-offs, making this quarter's credit improvement notable. The stock is trading near its 52-week high of $16.99, reflecting positive momentum. The company also opened a new banking center in Alabama, signaling expansion despite an uncertain economic outlook.
At the time of this announcement, FUSB was trading at $16.50 on NASDAQ in the Finance sector, with a market capitalization of approximately $91.9M. The 52-week trading range was $10.30 to $16.99. This news item was assessed with positive market sentiment and an importance score of 7 out of 10. Source: Reuters.