FIRST US BANCSHARES, INC. REPORTS SECOND QUARTER 2022 RESULTS

Reports 45.9% Year-to-Date Earnings Growth Driven by Continued Expense Reduction

BIRMINGHAM, Ala., July 27, 2022 /PRNewswire/ -- First US Bancshares, Inc. (Nasdaq: FUSB) (the "Company"), the parent company of First US Bank (the "Bank"), today reported net income of $1.4 million, or $0.22 per diluted share, for the quarter ended June 30, 2022 ("2Q2022"), compared to $1.0 million, or $0.14 per diluted share, for the quarter ended June 30, 2021 ("2Q2021") and $1.4 million, or $0.20 per diluted share, for the quarter ended March 31, 2022 ("1Q2022").  Net income totaled $2.8 million for the six months ended June 30, 2022, compared to $1.9 million for the six months ended June 30, 2021, an increase of 45.9%.  Diluted earnings per share totaled $0.42 for the six months ended June 30, 2022, compared to $0.28 per diluted share during the corresponding period of 2021. 

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