First US Bancshares, Inc. (Nasdaq: FUSB) reported net income of $2.0 million, or $0.36 per diluted share, for the quarter ended September 30, 2026. This figure represents an increase of 11.8% in net income and 16.1% in diluted earnings per share (EPS) compared to the prior quarter. For the nine months ended September 30, 2026, the company reported net income of $5.7 million, or $1.00 per diluted share, which is an increase of 46.5% in net income and 56.3% in diluted EPS compared to the same period in 2025.
The company’s net interest margin improved to 3.66% for the third quarter, up from 3.56% in the second quarter. Net interest income for the quarter totaled $9.9 million, an increase of $350,000 compared to the prior quarter. This improvement was driven by higher yields on loans and investment securities, while average deposit costs remained relatively stable.
Asset quality metrics showed improvement during the quarter. Nonperforming assets decreased to $1.7 million, or 0.14% of total assets, compared to $1.9 million in the second quarter. Annualized net charge-offs as a percentage of average loans were 0.22% in the third quarter, down from 0.30% in the second quarter.
Loan balances decreased by $15.6 million, or 1.8%, to $845.0 million as of September 30, 2026. The decline was attributed to expected project payoffs in multi-family residential and construction lending, partially offset by growth in indirect consumer loans. Total deposits increased by $17.1 million, or 1.7%, to $1.015 billion during the quarter.
