<SEC-DOCUMENT>0001564590-21-038652.txt : 20210728
<SEC-HEADER>0001564590-21-038652.hdr.sgml : 20210728
<ACCEPTANCE-DATETIME>20210728163340
ACCESSION NUMBER:		0001564590-21-038652
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20210728
ITEM INFORMATION:		Entry into a Material Definitive Agreement
ITEM INFORMATION:		Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers: Compensatory Arrangements of Certain Officers
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20210728
DATE AS OF CHANGE:		20210728

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST US BANCSHARES INC
		CENTRAL INDEX KEY:			0000717806
		STANDARD INDUSTRIAL CLASSIFICATION:	STATE COMMERCIAL BANKS [6022]
		IRS NUMBER:				630843362
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14549
		FILM NUMBER:		211122984

	BUSINESS ADDRESS:	
		STREET 1:		3291 U.S. HIGHWAY 280
		CITY:			BIRMINGHAM
		STATE:			AL
		ZIP:			35243
		BUSINESS PHONE:		2055821084

	MAIL ADDRESS:	
		STREET 1:		3291 U.S. HIGHWAY 280
		CITY:			BIRMINGHAM
		STATE:			AL
		ZIP:			35243

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	UNITED SECURITY BANCSHARES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>fusb-8k_20210728.htm
<DESCRIPTION>8-K
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<p style="text-align:center;margin-bottom:0pt;border-top:Double 2.25pt;padding-top:1pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:4pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">UNITED STATES</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SECURITIES AND EXCHANGE COMMISSION</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Washington, D.C. 20549</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:18pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">FORM 8-K</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:12pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">CURRENT REPORT</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to Section&#160;13 or 15(d) of the Securities Exchange Act of 1934</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Date of report (Date of earliest event reported): July 28, 2021</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:6pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:24pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:24pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">First US Bancshares, Inc.</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-family:Times New Roman;font-size:24pt;">&nbsp;</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Exact Name of Registrant as Specified in Charter)</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:6pt;">&nbsp;</p>
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<table border="0" cellspacing="0" cellpadding="0" align="center" style="border-collapse:collapse; width:100%;">
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">Delaware</font></p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">0-14549</font></p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;"><font style="text-decoration:underline;">63-0843362</font></p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(State or Other Jurisdiction</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">of Incorporation)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Commission File Number)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(IRS Employer</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Identification No.)</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:6pt;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">3291 U.S. Highway 280<font style="font-weight:normal;"> </font>&#160;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Birmingham,<font style="font-weight:normal;"> </font>Alabama 35243</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Address of Principal Executive Offices, including Zip Code)</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Registrant&#8217;s telephone number, including area code: <font style="font-weight:bold;">(205)</font> <font style="font-weight:bold;">582-1200</font></p>
<p style="text-align:center;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">N/A</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">(Former Name or Former Address, if Changed Since Last Report)</p>
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</p>
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[ ] Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</p>
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[ ] Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</p>
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[ ] Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</p>
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">[ ] Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</p>
<p style="margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Securities registered pursuant to Section 12(b) of the Act:</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:6pt;">&nbsp;</p>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Title of each class</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0.75pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Trading Symbol(s)</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Name of each exchange on which registered</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Common Stock, $0.01 par value</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0.75pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">FUSB</p></td>
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<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Nasdaq Stock Market LLC</p></td>
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<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;230.405 of this chapter).</p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Emerging growth company <font style="font-family:Segoe UI Symbol;">&#9744;</font></p>
<p style="Background-color:#FFFFFF;margin-bottom:0pt;margin-top:6pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. <font style="font-family:Segoe UI Symbol;">&#9744;</font></p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item 1.01</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Entry into a Material Definitive Agreement<font style="color:#000000;">.</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The information set forth in Item 5.02(b) of this Current Report on Form 8-K with respect to the Director Indemnification Agreement, dated as of July 28, 2021 (the &#8220;Indemnification Agreement&#8221;), by and between First US Bancshares, Inc. (the &#8220;Company&#8221;) and Marlene M. McCain, is incorporated by reference into this Item 1.01<font style="color:#000000;">.</font></p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:6.25%;font-size:10pt;">&nbsp;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Item 5.02</p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers<font style="color:#000000;">.</font></p></td>
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<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="margin-bottom:8pt;margin-top:0pt;text-indent:0%;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">(d)<font style="margin-left:36pt;">Election of Marlene M. McCain to the Board of Directors </font></p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;margin-right:1.22%;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On July 28, 2021, the Board of Directors (the &#8220;Board&#8221;) of the Company, upon the recommendation of the Board&#8217;s Executive, Nominating, and Corporate Governance Committee, voted unanimously to increase the size of the Board from eleven (11) to twelve (12) directors and to elect Marlene M. McCain to fill the vacancy created by the increase in the size of the Board, effective as of July 28, 2021. The Board appointed Ms. McCain, a certified public accountant, to serve on the Audit Committee of the Board. Ms. McCain will also serve on the Board of Directors of First US Bank, the Company&#8217;s wholly owned banking subsidiary (the &#8220;Bank&#8221;). The Board of Directors of the Bank (the &#8220;Bank Board&#8221;) appointed Ms. McCain to serve on the Retail, Operations, and Compliance Committee of the Bank Board.</p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;margin-right:1.22%;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">There are no arrangements or understandings between Ms. McCain and any other person pursuant to which she was appointed to the positions with the Company and the Bank described above. Additionally, there are no related person transactions involving Ms. McCain and the Company that would require disclosure under Item 404(a) of Regulation S-K promulgated by the Securities and Exchange Commission (the &#8220;SEC&#8221;). </p>
<p style="margin-bottom:8pt;margin-top:0pt;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Board has affirmatively determined that Ms. McCain is independent under Nasdaq listing standards and is otherwise qualified to serve on the Boards and the committees to which she has been appointed. Ms. McCain will receive the compensation described in Exhibit 10.1 to our Quarterly Report on Form 10-Q for the period ended March 31, 2021, filed with the SEC on May 11, 2021; provided, however, that the compensation of the Company&#8217;s directors may be adjusted by the Board from time to time. Ms. McCain will also be eligible to receive awards under the Company&#8217;s 2013 Incentive Plan.</p>
<p style="margin-bottom:8pt;margin-top:0pt;text-indent:0%;font-style:italic;color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;text-transform:none;font-variant: normal;">(d)(5)<font style="margin-left:36pt;">Director Indemnification Agreement</font></p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;margin-right:1.22%;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On July 28, 2021, the Company entered into the Indemnification Agreement with Ms. McCain in connection with her membership on the Board of the Company. The Indemnification Agreement is substantially similar to the Director Indemnification Agreements previously entered into between the Company and each of its other current directors. </p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;margin-right:1.22%;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In general, the Indemnification Agreement provides that the Company will, to the extent permitted by applicable law and subject to certain limitations, indemnify Ms. McCain against all expenses, judgments, fines, and penalties actually and reasonably incurred by her in connection with the defense or settlement of any civil, criminal, administrative, or investigative action, suit, or proceeding brought against her or in which she otherwise becomes involved by reason of her relationship with the Company. The Indemnification Agreement provides for indemnification rights regarding third-party proceedings and proceedings brought by or in the right of the Company. Additionally, the Indemnification Agreement provides for the advancement of expenses incurred by Ms. McCain in connection with any proceeding covered by the Indemnification Agreement, provided that she must undertake in writing to repay any such amounts to the extent that it is determined that she is not entitled to indemnification. </p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;margin-right:1.22%;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">No payments pursuant to the Indemnification Agreement are available (i) to indemnify or advance expenses with respect to proceedings initiated or brought voluntarily by Ms. McCain and not by way of defense, subject to certain exceptions; (ii) to indemnify Ms. McCain for expenses, judgments, fines, or penalties sustained in any proceeding for which payment is actually made to her under a valid and collectible insurance policy, except in respect of any excess beyond the amount of such insurance payment; (iii) to indemnify Ms. McCain for any expenses, judgments, fines, or penalties sustained in any proceeding for an accounting of profits made from the purchase or sale by her of securities of the Company pursuant to the provisions of Section 16(b) of the Securities Exchange Act of 1934, the rules and regulations thereunder and amendments thereto or similar provisions of any federal, state, or local statutory law; (iv) to indemnify Ms. McCain for any expenses, judgments, fines, or penalties resulting from her conduct that is finally adjudged to have been willful misconduct, knowingly fraudulent, or deliberately dishonest; or (v) in the event that a court of competent jurisdiction finally determines that such payment is unlawful. </p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;margin-right:1.22%;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Indemnification Agreement does not exclude any other rights to indemnification or advancement of expenses to which Ms. McCain may be entitled, including any rights arising under the Company&#8217;s Certificate of Incorporation, as amended, or Bylaws, any other agreement, any vote of the Company&#8217;s shareholders or disinterested directors, the Delaware General Corporation Law, or otherwise. The Indemnification Agreement also contains various representations and covenants by the Company as to the maintenance of directors and officers liability insurance. </p>
<p style="margin-bottom:8pt;margin-top:0pt;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The foregoing description of the Indemnification Agreement does not purport to be complete and is qualified in its entirety by reference to the Form of Director Indemnification Agreement, a copy of which is attached as Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K (File No. 000-14549) filed with the SEC on October 30, 2009 and incorporated herein by reference.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-weight:bold;color:#000000;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">Other Events<font style="color:#000000;">.</font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:8pt;margin-top:0pt;margin-right:1.22%;text-indent:6.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">On July 28, 2021, the Company issued a press release announcing the election of Ms. McCain to the Boards of Directors of the Company and the Bank, which press release contains additional biographical information about Ms. McCain. A copy of the press release is attached hereto as Exhibit 99.1. </p>
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<p style="margin-bottom:0pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;">&nbsp;</p></td>
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<p style="margin-bottom:8pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="http://www.sec.gov/Archives/edgar/data/717806/000119312509218794/dex101.htm"><font style="text-decoration:underline;">Form of Director Indemnification Agreement (incorporated herein by reference to Exhibit 10.1 to the Company&#8217;s Current Report on Form 8-K (File No. 000-14549) filed with the Securities and Exchange Commission on October 30, 2009)</font></a><font style="color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font></p></td>
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<p style="margin-bottom:8pt;margin-top:0pt;margin-left:0pt;;text-indent:0pt;;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><a href="fusb-ex991_6.htm"><font style="text-decoration:underline;">Press Release, dated July 28, 2021</font></a><font style="color:#000000;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"> </font></p></td>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:11pt;">&nbsp;</p><a name="_AEIOULastRenderedPageBreakAEIOU2"></a>
<p style="text-align:center;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-size:10pt;font-family:Times New Roman;font-style:normal;text-transform:none;font-variant: normal;">SIGNATURES</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:10pt;text-indent:4.25%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:right;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;">Exhibit 99.1</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;font-size:10pt;font-family:Times New Roman;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;text-indent:7.14%;">&nbsp;</p>
<p style="text-align:center;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:12pt;font-family:Times New Roman;font-weight:bold;font-style:normal;text-transform:none;font-variant: normal;">FIRST US BANCSHARES, INC. ELECTS NEW DIRECTOR </p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;;font-size:8pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">BIRMINGHAM, AL (July 28, 2021) &#8211; First US Bancshares, Inc. (the &#8220;Company&#8221;) (Nasdaq: FUSB) announced today that the Company&#8217;s Board of Directors has elected Marlene M. McCain as a director of the Company and its subsidiary, First US Bank (the &#8220;Bank&#8221;), effective immediately.&nbsp;&nbsp;Ms. McCain will serve on the Audit Committee of the Board of Directors of the Company and on the Retail, Operations, and Compliance Committee of the Board of Directors of the Bank.&nbsp;&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ms. McCain is a certified public accountant and holds a Bachelor of Science Degree in Accounting and a Master&#8217;s Degree in Business Administration from the University of Alabama.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ms. McCain was appointed by Governor Kay Ivey to serve on the Alabama Securities Commission and has served as both Chair and Commissioner.&nbsp;&nbsp;She retired from public accounting in 2017 and currently provides contract services to a large non-profit organization in Birmingham. She has over 40 years of accounting experience, including almost 30 years in public accounting, where she specialized in accounting and consulting services to a wide range of financial services entities (banks, credit unions, brokers/RIAs, and mortgage and insurance entities), in addition to health care, technology, retail and nonprofit organizations.&nbsp;&nbsp;She also spent ten years working as a VP-Finance or Group Controller for two large companies in the Birmingham area.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ms. McCain has served as chair and board member of the Alabama Society of Certified Public Accountants (ASCPA) and ASCPA Educational Foundation. She served a one-year term on the American Institute of Certified Public Accountants (AICPA) Board of Directors.&nbsp;&nbsp;She also received the prestigious AICPA Woman to Watch &#8211; Experienced Leader Award in 2011 and served as a past president and board member of the American Society of Women Accountants. </p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Ms. McCain has always been active in the community, with her primary focus on volunteer activities for certain nonprofit organizations.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;font-family:Times New Roman;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">&#8220;We are fortunate to have Ms. McCain join our Company. She will be an important contributor with her knowledge and experience,&#8221; stated James F. House, President and Chief Executive Officer of the Company. &#8220;I welcome Ms. McCain as a director and look forward to her association and insight as we continue to focus on the growth of the Bank and the execution of strategic initiatives.&#8221;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">About First US Bancshares, Inc.</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">First US Bancshares, Inc. is a bank holding company that operates banking offices in Alabama, Tennessee, and Virginia through First US Bank (the &#8220;Bank&#8221;).&nbsp;&nbsp;In addition, the Company&#8217;s operations include Acceptance Loan Company, Inc. (&#8220;ALC&#8221;), a consumer loan company, and FUSB Reinsurance, Inc., an underwriter of credit life and credit accident and health insurance policies sold to the Bank&#8217;s and ALC&#8217;s consumer loan customers.&nbsp;&nbsp;The Company&#8217;s stock is traded on the Nasdaq Capital Market under the symbol &#8220;FUSB.&#8221;</p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-weight:bold;font-style:italic;font-family:Times New Roman;font-size:10pt;text-transform:none;font-variant: normal;">Forward-Looking Statements</p>
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<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-style:italic;color:#2B2B2B;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">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,&#160;estimates&#160;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&#160;time to time&#160;forward-looking public statements concerning the matters described herein. Such forward-looking statements are necessarily estimates reflecting the best judgment of the Company&#8217;s senior management based upon current information and involve&#160;a number of&#160;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&#160;SEC, and forward-looking statements contained in this&#160;press release or in other public statements of the Company or its senior management should be considered&#160;in light of&#160;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&#8217;s 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&#8217;s and ALC&#8217;s service areas; market conditions and investment returns; changes in interest rates; the impact of the current COVID-19 pandemic on the Company&#8217;s business, the Company&#8217;s customers, the communities that the Company serves and the&#160;United States&#160;economy, including the impact of actions taken by governmental authorities to try to contain&#160;the virus&#160;and protect against&#160;it, through vaccinations and otherwise,&#160;or address the impact of the virus on&#160;the United States&#160;economy (including, without limitation, the Coronavirus Aid, Relief and Economic Security&#160;(CARES)&#160;Act and subsequent federal legislation) and the resulting effect on the Company&#8217;s operations, liquidity and capital position and on the financial condition of the Company&#8217;s borrowers and other customers; the </p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p>
<p style="text-align:justify;Background-color:#FFFFFF;margin-bottom:0pt;margin-top:0pt;font-style:italic;color:#2B2B2B;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;"><font style="font-style:italic;color:#2B2B2B;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">pending discontinuation of LIBOR as an interest rate benchmark; the availability of quality loans in the Bank&#8217;s and ALC&#8217;s service areas; the relative&#160;strength and weakness in the consumer and commercial credit sectors and in the real estate markets; collateral values; cybersecurity threats; and risks related to the Paycheck Protection Program. </font><font style="font-style:italic;color:#2B2B2B;font-family:Times New Roman;font-size:10pt;font-weight:normal;text-transform:none;font-variant: normal;">There can be no assurance that such factors or other factors&#160;will not affect the accuracy of such forward-looking statements.</font></p>
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<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Thomas S. Elley</p>
<p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">205-582-1200</p>
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