{"id":483766,"date":"2021-04-28T16:33:29","date_gmt":"2021-04-28T20:33:29","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/first-us-bancshares-inc-announces-expansion-of-share-repurchase-program\/"},"modified":"2021-04-28T16:33:29","modified_gmt":"2021-04-28T20:33:29","slug":"first-us-bancshares-inc-announces-expansion-of-share-repurchase-program","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/first-us-bancshares-inc-announces-expansion-of-share-repurchase-program\/","title":{"rendered":"First US Bancshares, Inc. Announces Expansion of Share Repurchase Program"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">BIRMINGHAM, AL, April  28, 2021  (GLOBE NEWSWIRE) &#8212; First US Bancshares, Inc. (Nasdaq: FUSB) (the \u201cCompany\u201d), a Delaware corporation based in Birmingham, Alabama, announced today that its Board of Directors has expanded the Company\u2019s existing share repurchase program. The Company has repurchased 587,824 shares of its common stock to date and 54,961 shares remain available for repurchase, and the Board of Directors authorized the Company to repurchase an additional 1,000,000 shares under the repurchase program. The Board of Directors also extended the expiration of the repurchase program from December 31, 2021 to December 31, 2022. The share repurchase program was originally approved by the Company\u2019s Board of Directors on January 19, 2006. The Company most recently repurchased shares pursuant to the program during the first quarter of 2020.<\/p>\n<p align=\"justify\">Share repurchases under the repurchase program may be made through open market transactions, through privately negotiated transactions or otherwise at times and in such amounts as management deems appropriate, subject to applicable regulatory requirements. Open market purchases may be executed through a pre-arranged repurchase plan that operates in accordance with the guidelines specified under Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended. The repurchase program does not obligate the Company to acquire any particular number of shares and may be suspended at any time at the Company\u2019s discretion.<\/p>\n<p align=\"justify\">\n        <strong>About First US Bancshares, Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">First US Bancshares, Inc. is a bank holding company that operates banking offices in Alabama, Tennessee and Virginia through First US Bank (the \u201cBank\u201d). In addition, the Company\u2019s operations include Acceptance Loan Company, Inc., a consumer loan company (\u201cALC\u201d), and FUSB Reinsurance, Inc., an underwriter of credit life and credit accident and health insurance policies sold to the Bank\u2019s and ALC\u2019s consumer loan customers. The Company files periodic reports with the U.S. Securities and Exchange Commission (the \u201cSEC\u201d). Copies of its filings may be obtained through the SEC\u2019s 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\u2019s stock is traded on the Nasdaq Capital Market under the symbol \u201cFUSB.\u201d<\/p>\n<p align=\"left\">\n        <strong><br \/>\n          <em>Forward-Looking Statements<\/em><br \/>\n        <\/strong>\n      <\/p>\n<p align=\"justify\">\n        <em>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, <\/em><br \/>\n        <em>estimates<\/em><br \/>\n        <em> 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 <\/em><br \/>\n        <em>time to time<\/em><br \/>\n        <em> forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of the Company\u2019s senior management based upon current information and involve <\/em><br \/>\n        <em>a number of<\/em><br \/>\n        <em> 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 SEC, and forward-looking statements contained in this press release or in other public statements of the Company or its senior management should be considered <\/em><br \/>\n        <em>in light of<\/em><br \/>\n        <em> those factors. Specifically, with respect to statements relating to the sufficiency of the allowance for loan and lease losses, loan demand, cash flows, interest costs, growth and earnings potential, expansion and the Company\u2019s positioning to handle the challenges presented by COVID-19, these factors include, but are not limited to, the rate of growth (or lack thereof) in the economy generally and in the Bank\u2019s and ALC\u2019s service areas; market conditions and investment returns; changes in interest rates; the impact of the current COVID-19 pandemic on the Company\u2019s business, the Company\u2019s customers, the communities that the Company serves and the United States economy, including the impact of actions taken by governmental authorities to try to contain the virus <\/em><br \/>\n        <em>and protect against it, through vaccinations and otherwise, <\/em><br \/>\n        <em>or address the impact of the virus on the United States economy (including, without limitation, the Coronavirus Aid, Relief and Economic Security <\/em><br \/>\n        <em>(CARES) <\/em><br \/>\n        <em>Act and subsequent federal legislation) and the resulting effect on the Company\u2019s operations, liquidity and capital position and on the financial condition of the Company\u2019s borrowers and other customers; the pending discontinuation of LIBOR as an interest rate benchmark; the availability of quality loans in the Bank\u2019s and ALC\u2019s service areas; the relative strength and weakness in the consumer and commercial credit sectors and in the real estate markets; collateral values; cybersecurity threats; <\/em><br \/>\n        <em>and risks related to the Paycheck Protection Program. There can be no assurance that such factors or other factors will not affect the accuracy of such forward-looking statements.<\/em>\n      <\/p>\n<p align=\"justify\">\n        \n      <\/p>\n<p \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIyNTc1NSM0MTQ0ODg1IzIwNDk4NzQ=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/6211e8d0-273d-4730-811a-31f344d0cf2c\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Contact: \r\n\r\nThomas S. Elley\r\n205-582-1200<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>BIRMINGHAM, AL, April 28, 2021 (GLOBE NEWSWIRE) &#8212; First US Bancshares, Inc. (Nasdaq: FUSB) (the \u201cCompany\u201d), a Delaware corporation based in Birmingham, Alabama, announced today that its Board of Directors has expanded the Company\u2019s existing share repurchase program. The Company has repurchased 587,824 shares of its common stock to date and 54,961 shares remain available for repurchase, and the Board of Directors authorized the Company to repurchase an additional 1,000,000 shares under the repurchase program. The Board of Directors also extended the expiration of the repurchase program from December 31, 2021 to December 31, 2022. The share repurchase program was originally approved by the Company\u2019s Board of Directors on January 19, 2006. The Company most recently repurchased shares pursuant to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-us-bancshares-inc-announces-expansion-of-share-repurchase-program\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;First US Bancshares, Inc. Announces Expansion of Share Repurchase Program&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-483766","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>First US Bancshares, Inc. Announces Expansion of Share Repurchase Program - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/first-us-bancshares-inc-announces-expansion-of-share-repurchase-program\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First US Bancshares, Inc. Announces Expansion of Share Repurchase Program - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BIRMINGHAM, AL, April 28, 2021 (GLOBE NEWSWIRE) &#8212; First US Bancshares, Inc. (Nasdaq: FUSB) (the \u201cCompany\u201d), a Delaware corporation based in Birmingham, Alabama, announced today that its Board of Directors has expanded the Company\u2019s existing share repurchase program. The Company has repurchased 587,824 shares of its common stock to date and 54,961 shares remain available for repurchase, and the Board of Directors authorized the Company to repurchase an additional 1,000,000 shares under the repurchase program. The Board of Directors also extended the expiration of the repurchase program from December 31, 2021 to December 31, 2022. The share repurchase program was originally approved by the Company\u2019s Board of Directors on January 19, 2006. The Company most recently repurchased shares pursuant to &hellip; Continue reading &quot;First US Bancshares, Inc. 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