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 diluted share) in 3Q2024, driven by lower provision for credit losses and improved net interest margin.

• Nine-month net income totaled $3.9 million ($0.64 per diluted share), down from $6.5 million ($1.04 per diluted share) in 2024.

• Credit issues with two commercial loans were largely resolved, and net charge-offs in consumer indirect loans normalized.

• Year-to-date loan growth reached $44.5 million (5.4%), primarily in consumer indirect, multi-family residential, and C&I segments.

• Deposits increased by $15.6 million in 3Q2025, with core deposits rising to 83.6% of total deposits.

Financial highlights

• Net interest income for 3Q2025 was $9.7 million, up 2.0% from 2Q2025 and 5.2% year-over-year; net interest margin improved to 3.60% in 3Q2025, matching 3Q2024.

• Provision for credit losses dropped to $0.6 million in 3Q2025 from $2.7 million in 2Q2025; for the nine months, provision rose to $3.8 million from $0.2 million 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.

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

• Total assets reached $1.15 billion, and total deposits were $1.00 billion as of September 30, 2025.

Outlook and guidance

• Strategic focus remains on growing EPS, ROA, and ROE, with continued emphasis on diversified loan and deposit growth, strong credit culture, and expense control.

• Management highlighted strong momentum heading into year-end, with credit issues resolved and normalized charge-offs.

• Plans to expand loan production offices and leverage digital banking for broader customer reach.

• Potential acquisitions considered for entry into new growth markets.

• The company expects continued economic uncertainty and competitive deposit environment to challenge net interest margin and credit quality.