First US Bancshares (FUSB) Q3 2025 earnings summary

Executive summary

• Net income for 3Q2025 was $1.9 million ($0.32 per diluted share), up from $0.03 in 2Q2025 but down from $2.2 million ($0.36 per share) in 3Q2024, driven by lower provision for credit losses and improved net interest margin quarter-over-quarter.

• Nine-month net income totaled $3.9 million ($0.64 per diluted share), down from $6.5 million ($1.04 per share) in 2024, mainly due to higher provision for credit losses and increased non-interest expense.

• Net interest margin improved to 3.60% in 3Q2025, matching 3Q2024 and slightly up from 3.59% in 2Q2025.

• Nonperforming assets as a percentage of total assets decreased to 0.19% in 3Q2025 from 0.33% in 2Q2025 and 0.60% in 3Q2024.

• Tangible book value per share increased 2.3% since June 30, 2025, and 4.9% since December 31, 2024, reaching $16.79.

Financial highlights

• Total assets reached $1,147 million, loans $868 million, and deposits $1,002 million as of September 30, 2025.

• Loans increased by $44.5 million (5.4%) year-to-date, mainly from consumer indirect, multi-family residential, and C&I segments.

• Net interest income for 3Q2025 was $9.7 million, up 2.0% from 2Q2025 and 5.2% year-over-year.

• Non-interest income was stable at $0.9 million in 3Q2025; non-interest expense was $7.4 million, up from $7.0 million in 3Q2024.

• Loans to deposits ratio was 87%.

Outlook and guidance

• Focus remains on growing EPS, ROA, and ROE through diversified loan and deposit growth, strong credit culture, and expense control.

• Management continues to focus on maximizing earning asset growth and reducing interest expense to improve net interest margin, but notes that future interest rate movements and economic uncertainty could negatively impact results.

• Plans to expand loan production offices and leverage digital banking for growth.

• Continued focus on core deposit growth and maintaining liquidity.