First US Bancshares reported third-quarter 2026 net income of $2.0 million, or 36 cents per diluted share, up from $1.8 million and 31 cents in the second quarter. Compared with a year earlier, quarterly profit was nearly unchanged, while diluted earnings per share rose from 32 cents.
For the first nine months of 2026, net income increased 46% to $5.7 million, and diluted earnings per share rose 56% to $1.00. The year-to-date improvement came alongside lower credit-loss provisions and higher noninterest income; net interest income rose modestly, while expenses increased.
Key details
-
Quarterly earnings improved sequentially. Third-quarter net income was $1.96 million, compared with $1.75 million in the second quarter and $1.94 million a year earlier. Diluted EPS was 36 cents, versus 31 cents and 32 cents, respectively.
-
Year-to-date profit growth outpaced revenue growth. For the first nine months, net income was $5.66 million, up from $3.86 million in the same period of 2025. Net interest income rose 1.9% to $28.6 million, and noninterest income increased 21% to $3.1 million. Noninterest expense also rose, by 4% to $22.7 million.
-
Lower credit-loss provisions were a major contributor to the year-over-year gain. The provision for credit losses was $1.8 million for the first nine months, down from $3.8 million a year earlier. In the third quarter, the provision was $586,000, compared with $939,000 in the second quarter and $566,000 a year earlier.
-
Per-share results also reflect a smaller share count. Diluted EPS rose 56% year to date, faster than net income’s 46% increase. First US had 5.13 million common shares outstanding at Sept. 30, down from 5.77 million a year earlier. The results do not specify the reason for the decline.
-
Net interest margin improved from the prior quarter but was slightly lower year over year. The margin was 3.66% in the third quarter, up from 3.56% in the second quarter and compared with 3.60% in the third quarter of 2025. For the first nine months, it was 3.53%, versus 3.57% a year earlier.
-
Loans declined while deposits grew. At Sept. 30, total loans were $845 million, down from $861 million at the end of June and $868 million a year earlier. Deposits totaled $1.02 billion, up from $998 million at the end of June and $1.00 billion a year earlier. The loans-to-deposits ratio was 83.2%, compared with 86.2% a quarter earlier and 86.5% a year earlier.
-
Credit-quality measures improved from a year ago. Nonperforming assets were 0.14% of total assets, down from 0.19% a year earlier. Annualized net charge-offs were 0.22% of average loans in the quarter, compared with 0.61% a year earlier. The allowance for credit losses equaled 1.30% of loans, up from 1.23% a year earlier.
-
Book value per share increased, while reported equity declined. Book value per common share was $18.82, up from $18.08 a year earlier; tangible book value was $17.37, up from $16.79. Total shareholders’ equity was $96.6 million, versus $104.2 million a year earlier. The company’s quarterly dividend remained 7 cents per share, the same as a year earlier.
Plain-English implications: The results show stronger year-to-date earnings alongside improved credit-quality measures and a higher quarterly net interest margin than in the second quarter. The loan balance was lower than a year ago even as deposits grew, and the share count was substantially smaller.