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Stock impact report

First US Bancshares, Inc. Announces Second Quarter 2020 Results

First US Bancshares, Inc. (FUSB) 
US:NASDAQ Investor Relations: firstusbank.com/investors
Company Research Source: GlobeNewswire
BIRMINGHAM, Ala., July 29, 2020 (GLOBE NEWSWIRE) -- First US Bancshares, Inc. (Nasdaq: FUSB) (the “Company”), the parent company of First US Bank (the “Bank”), today reported net income of $0.4 million, or $0.06 per diluted share, for the quarter ended June 30, 2020 (“2Q2020”), compared to $0.8 million, or $0.13 per diluted share, for the quarter ended March 31, 2020 (“1Q2020”) and $1.0 million, or $0.15 per diluted share, for the quarter ended June 30, 2019 (“2Q2019”). For the six months ended June 30, 2020, the Company’s net income totaled $1.3 million, or $0.19 per diluted share, compared to $2.2 million, or $0.33 per diluted share, for the six months ended June 30, 2019. Earnings for both the second quarter and six months ended June 30, 2020 were significantly impacted by the economic ramifications of the COVID-19 pandemic, including compression of net interest margin, increased provisions for loan losses, substantial growth in deposit balances and changes in borrowing activitie Show less Read more
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