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First US Bancshares, Inc. (Parent Company Only) Financial Information

12 Months Ended

Dec. 31, 2023

Disclosure Text Block [Abstract]

Condensed Financial Information of Parent Company Only Disclosure

20.

FIRST US BANCSHARES, INC. (PARENT COMPANY ONLY) FINANCIAL INFORMATION

Balance Sheets


		Year Ended December 31,
		2023				2022
		(Dollars in Thousands)
Assets:
Cash on deposit		$	1,856			$	2,855
Investment in subsidiaries			99,395				93,414
Other assets			343				78
Total assets		$	101,594			$	96,347
Liabilities:
Other liabilities		$	201			$	485
Long-term borrowings			10,799				10,726
Shareholders’ equity			90,594				85,136
Total liabilities and shareholders’ equity		$	101,594			$	96,347

Statements of Operations


		Year Ended December 31,
		2023				2022
		(Dollars in Thousands)
Income:
Dividend income, First US Bank		$	3,460			$	3,463
Total income			3,460				3,463
Expense			1,362				1,320
Gain before equity in undistributed income of subsidiaries			2,098				2,143
Equity in undistributed income of subsidiaries			6,387				4,721
Net income		$	8,485			$	6,864

Statements of Cash Flows


		Year Ended December 31,
		2023				2022
		(Dollars in Thousands)
Cash flows from operating activities:
Net income		$	8,485			$	6,864
Adjustments to reconcile net income to net cash provided by operating activities:
Distributions in excess of undistributed income of subsidiaries			(6,387	)			(4,721	)
Change in other assets and liabilities			(475	)			135
Net cash provided by operating activities			1,623				2,278
Cash flows from financing activities:
Net share-based compensation transactions			(25	)			—
Dividends paid			(1,175	)			(832	)
Treasury stock repurchases			(1,422	)			(4,481	)
Net cash provided by (used in) in financing activities			(2,622	)			(5,313	)
Net increase (decrease) in cash			(999	)			(3,035	)
Cash at beginning of year			2,855				5,890
Cash at end of year		$	1,856			$	2,855