2023 Q1 Form 10-K Financial Statement

#000095017023007191 Filed on March 10, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $285.0K $11.62M $41.20M
YoY Change -96.96% 16.36% 3.2%
Cost Of Revenue $323.0K
YoY Change 0.31%
Gross Profit $40.87M
YoY Change 3.22%
Gross Profit Margin 99.22%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $169.0K $682.0K
YoY Change -1.17% -24.47%
% of Gross Profit 1.67%
Depreciation & Amortization $467.0K $468.0K $1.882M
YoY Change 1.52% 1.74% -7.29%
% of Gross Profit 4.6%
Operating Expenses $1.220M $5.674M
YoY Change -7.22% -7.04%
Operating Profit $35.20M
YoY Change 5.09%
Interest Expense $2.526M $1.730M $4.256M
YoY Change 275.89% 137.96% 44.27%
% of Operating Profit 12.09%
Other Income/Expense, Net
YoY Change
Pretax Income $2.724M $2.936M $9.012M
YoY Change 54.68% 32.37% 57.39%
Income Tax $652.0K $708.0K $2.148M
% Of Pretax Income 23.94% 24.11% 23.83%
Net Earnings $2.072M $2.228M $6.864M
YoY Change 52.24% 30.22% 54.21%
Net Earnings / Revenue 727.02% 19.17% 16.66%
Basic Earnings Per Share $0.35 $0.37 $1.13
Diluted Earnings Per Share $0.33 $350.0K $1.060M
COMMON SHARES
Basic Shares Outstanding 5.869M 5.812M 6.084M
Diluted Shares Outstanding 6.374M 6.504M

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $197.1M $162.8M
YoY Change -16.33% -16.75%
Cash & Equivalents $68.43M $30.15M
Short-Term Investments $128.7M $132.7M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $24.29M $24.44M $24.44M
YoY Change -10.15% -2.72% -10.81%
Goodwill $7.435M $7.435M
YoY Change 0.0% 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets $5.140M
YoY Change 105.6%
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $1.026B $994.7M $994.7M
YoY Change 5.93% 3.79% 3.79%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $841.0K $607.0K $607.0K
YoY Change 175.74% 203.5% 203.5%
Accrued Expenses $1.870M $1.961M $1.961M
YoY Change -16.07% -14.74% -14.74%
Deferred Revenue
YoY Change
Short-Term Debt $25.00M $20.04M $20.04M
YoY Change 99.46%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $25.84M $607.0K $607.0K
YoY Change 920.17% -75.72% -75.72%
LONG-TERM LIABILITIES
Long-Term Debt $10.74M $10.73M $10.73M
YoY Change 0.68% 0.24% 0.24%
Other Long-Term Liabilities $7.431M $8.136M $8.136M
YoY Change 66.76% 17.91% 17.91%
Total Long-Term Liabilities $18.18M $18.86M $18.86M
YoY Change 20.15% 7.17% 7.17%
TOTAL LIABILITIES
Total Short-Term Liabilities $25.84M $607.0K $607.0K
Total Long-Term Liabilities $18.18M $18.86M $18.86M
Total Liabilities $941.9M $909.5M $909.5M
YoY Change 6.93% 4.76% 4.76%
SHAREHOLDERS EQUITY
Retained Earnings $104.4M $104.5M
YoY Change 4.84% 6.13%
Common Stock $14.74M $14.59M
YoY Change 2.68% 2.44%
Preferred Stock
YoY Change
Treasury Stock (at cost) $26.69M $26.67M
YoY Change 14.65% 19.45%
Treasury Stock Shares $1.871M $1.869M
Shareholders Equity $84.15M $85.14M $85.14M
YoY Change
Total Liabilities & Shareholders Equity $1.026B $994.7M $994.7M
YoY Change 5.93% 3.79% 3.79%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income $2.072M $2.228M $6.864M
YoY Change 52.24% 30.22% 54.21%
Depreciation, Depletion And Amortization $467.0K $468.0K $1.882M
YoY Change 1.52% 1.74% -7.29%
Cash From Operating Activities $3.585M $3.027M $12.53M
YoY Change 323.76% 10.88% 27.52%
INVESTING ACTIVITIES
Capital Expenditures $139.0K $590.0K $1.262M
YoY Change 17.8% -447.06% 53.53%
Acquisitions
YoY Change
Other Investing Activities $2.326M -$12.23M -$78.94M
YoY Change -89.42% -31.27% -26.56%
Cash From Investing Activities $2.187M -$12.82M -$80.20M
YoY Change -90.0% -28.68% -25.96%
FINANCING ACTIVITIES
Cash Dividend Paid $294.0K $832.0K
YoY Change 58.92% 11.68%
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 32.50M 3.129M 36.58M
YoY Change 134.14% 152.34% -44.0%
NET CHANGE
Cash From Operating Activities 3.585M 3.027M 12.53M
Cash From Investing Activities 2.187M -12.82M -80.20M
Cash From Financing Activities 32.50M 3.129M 36.58M
Net Change In Cash 38.28M -6.668M -31.09M
YoY Change 4.59% -52.41% -6.27%
FREE CASH FLOW
Cash From Operating Activities $3.585M $3.027M $12.53M
Capital Expenditures $139.0K $590.0K $1.262M
Free Cash Flow $3.446M $2.437M $11.27M
YoY Change 373.35% -15.97% 25.15%

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CY2022 us-gaap Other Comprehensive Income Loss Available For Sale Securities Adjustment Net Of Tax
OtherComprehensiveIncomeLossAvailableForSaleSecuritiesAdjustmentNetOfTax
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CY2022 us-gaap Other Comprehensive Income Loss Derivative Excluded Component Increase Decrease After Adjustments Tax Noncontrolling Interest1
OtherComprehensiveIncomeLossDerivativeExcludedComponentIncreaseDecreaseAfterAdjustmentsTaxNoncontrollingInterest1
1507000
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.14
CY2022 us-gaap Dividends Common Stock
DividendsCommonStock
832000
CY2022 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
485000
CY2022 us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
4481000
CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
85135000
CY2022 us-gaap Profit Loss
ProfitLoss
6864000
CY2021 us-gaap Profit Loss
ProfitLoss
4451000
CY2022 fusb Depreciation And Amortization Of Property Plant And Equipment And Computer Programs
DepreciationAndAmortizationOfPropertyPlantAndEquipmentAndComputerPrograms
1614000
CY2021 fusb Depreciation And Amortization Of Property Plant And Equipment And Computer Programs
DepreciationAndAmortizationOfPropertyPlantAndEquipmentAndComputerPrograms
1692000
CY2022 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
3308000
CY2021 us-gaap Provision For Loan Lease And Other Losses
ProvisionForLoanLeaseAndOtherLosses
2010000
CY2022 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-367000
CY2021 us-gaap Deferred Income Tax Expense Benefit
DeferredIncomeTaxExpenseBenefit
-401000
CY2022 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
-83000
CY2021 us-gaap Debt Securities Available For Sale Realized Gain Loss
DebtSecuritiesAvailableForSaleRealizedGainLoss
22000
CY2022 fusb Cash Received In Settlement Of Derivatives Contracts
CashReceivedInSettlementOfDerivativesContracts
324000
CY2022 us-gaap Share Based Compensation
ShareBasedCompensation
485000
CY2021 us-gaap Share Based Compensation
ShareBasedCompensation
436000
CY2022 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
195000
CY2021 us-gaap Amortization Of Debt Discount Premium
AmortizationOfDebtDiscountPremium
338000
CY2022 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
268000
CY2021 us-gaap Amortization Of Intangible Assets
AmortizationOfIntangibleAssets
341000
CY2022 fusb Gains Losses On Sales Of Premises Equipment And Other Real Estate Held For Sale
GainsLossesOnSalesOfPremisesEquipmentAndOtherRealEstateHeldForSale
207000
CY2021 fusb Gains Losses On Sales Of Premises Equipment And Other Real Estate Held For Sale
GainsLossesOnSalesOfPremisesEquipmentAndOtherRealEstateHeldForSale
53000
CY2022 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
455000
CY2021 us-gaap Increase Decrease In Accrued Interest Receivable Net
IncreaseDecreaseInAccruedInterestReceivableNet
-251000
CY2022 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-333000
CY2021 us-gaap Increase Decrease In Other Operating Assets
IncreaseDecreaseInOtherOperatingAssets
-1137000
CY2022 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
383000
CY2021 us-gaap Increase Decrease In Interest Payable Net
IncreaseDecreaseInInterestPayableNet
-68000
CY2022 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-299000
CY2021 us-gaap Increase Decrease In Other Operating Liabilities
IncreaseDecreaseInOtherOperatingLiabilities
-287000
CY2022 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
12529000
CY2021 us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
9825000
CY2022 us-gaap Increase Decrease In Federal Funds Sold
IncreaseDecreaseInFederalFundsSold
-1686000
CY2021 us-gaap Increase Decrease In Federal Funds Sold
IncreaseDecreaseInFederalFundsSold
3000
CY2022 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
39255000
CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
86642000
CY2022 us-gaap Proceeds From Sale Of Available For Sale Securities Debt
ProceedsFromSaleOfAvailableForSaleSecuritiesDebt
8531000
CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
19250000
CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
38975000
CY2022 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
1563000
CY2021 us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
2957000
CY2022 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
489000
CY2021 us-gaap Payments For Proceeds From Federal Home Loan Bank Stock
PaymentsForProceedsFromFederalHomeLoanBankStock
-265000
CY2022 fusb Proceeds From Sale Of Premises And Equipment And Other Real Estate
ProceedsFromSaleOfPremisesAndEquipmentAndOtherRealEstate
3084000
CY2021 fusb Proceeds From Sale Of Premises And Equipment And Other Real Estate
ProceedsFromSaleOfPremisesAndEquipmentAndOtherRealEstate
2061000
CY2022 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
69935000
CY2021 us-gaap Payments For Proceeds From Loans Receivable
PaymentsForProceedsFromLoansReceivable
65112000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1262000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
822000
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-80199000
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-108315000
CY2022 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
31899000
CY2021 us-gaap Increase Decrease In Contract With Customer Liability
IncreaseDecreaseInContractWithCustomerLiability
55914000
CY2022 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
9992000
CY2021 us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
29000
CY2021 us-gaap Proceeds From Issuance Of Long Term Debt
ProceedsFromIssuanceOfLongTermDebt
10653000
CY2021 us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
7000
CY2022 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
4481000
CY2021 us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
525000
CY2022 us-gaap Payments Of Dividends
PaymentsOfDividends
832000
CY2021 us-gaap Payments Of Dividends
PaymentsOfDividends
745000
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
36578000
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
65319000
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-31092000
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-33171000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61244000
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
94415000
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
30152000
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
61244000
CY2022 us-gaap Nature Of Operations
NatureOfOperations
<div style="text-indent:0.0%;display:flex;margin-top:10.0pt;justify-content:flex-start;align-items:baseline;margin-bottom:0.0pt;min-width:5.065%;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;text-indent:0;display:inline-flex;font-size:10.0pt;font-family:Times New Roman;justify-content:flex-start;min-width:5.065%;">1.</span><div style="display:inline;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">DESCRIPTION OF BUSINESS</span></div></div><p style="margin-left:5.0%;text-indent:7.018%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">First US Bancshares, Inc., a Delaware corporation (“Bancshares” and, together with its subsidiaries, the “Company”), is a bank holding company formed in 1983 registered under the Bank Holding Company Act of 1956, as amended (the “BHCA”). Bancshares operates one banking subsidiary, First US Bank, an Alabama banking corporation (the “Bank”). Prior to its name change on October 11, 2016, Bancshares was known as United Security Bancshares, Inc. Bancshares and the Bank are headquartered in Birmingham, Alabama.</span></p><p style="margin-left:5.0%;text-indent:7.018%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Bank conducts a general commercial banking business and offers banking services such as demand, savings, individual retirement account and time deposits, personal and commercial loans, safe deposit box services and remote deposit capture. The Bank operates and serves its customers through 15 full-service banking offices located in Birmingham, Butler, Calera, Centreville, Gilbertown, Grove Hill, Harpersville, Jackson, Thomasville, Tuscaloosa and Woodstock, Alabama; Knoxville and Powell, Tennessee; and Rose Hill, Virginia; as well as loan production offices in Mobile, Alabama and the Chattanooga, Tennessee area. The Bank provides a wide range of commercial banking services to small- and medium-sized businesses, property managers, business executives, professionals and other individuals. The Bank also performs indirect lending through third-party retailers and currently conducts this lending in </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">12</span></span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> states, including Alabama, Florida, Georgia, Kentucky, Mississippi, Missouri, North Carolina, Oklahoma, South Carolina, Tennessee, Texas and Virginia. During the third quarter of 2021, the Company closed four banking offices located in Bucksville, Columbiana and south Tuscaloosa, Alabama, as well as Ewing, Virginia.</span></p><p style="margin-left:5.0%;text-indent:7.018%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Bank has two wholly owned subsidiaries: Acceptance Loan Company, Inc., an Alabama corporation (“ALC”), and FUSB Reinsurance, Inc., an Arizona corporation (“FUSB Reinsurance”). As used herein, unless the context suggests otherwise, references to the “Company,” “we,” “us” and “our” refer to Bancshares, as well as the Bank, ALC, and FUSB Reinsurance, collectively.</span></p><p style="margin-left:5.0%;text-indent:7.018%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The Bank owns all of the stock of ALC. ALC is a finance company headquartered in Mobile, Alabama. During the third quarter of 2021, ALC ceased new business development and permanently closed its </span><span style="font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">20</span><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> branch lending locations in Alabama and Mississippi to the public. ALC continues to service its remaining portfolio of loans from its headquarters in Mobile, Alabama.</span></p><p style="margin-left:5.0%;text-indent:7.018%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:8.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">FUSB Reinsurance was designed to reinsure or “underwrite” credit life and credit accident and health insurance policies sold to the Bank’s and ALC’s consumer loan customers. FUSB Reinsurance was responsible for the first level of risk on these policies up to a specified maximum amount, while the primary third-party insurer retained the remaining risk. While FUSB Reinsurance underwrote insurance contracts for both the Bank and ALC, in recent years, the majority of contracts were associated with ALC’s loans. Due to reduced contract volume, particularly following the cessation of business of ALC, during 2022, management of FUSB Reinsurance began procedures to terminate the entity’s activities. During 2022, FUSB Reinsurance ceased writing new insurance contracts, and reached an agreement with a third-party insurance provider to indemnify FUSB Reinsurance for all remaining liabilities associated with previously underwritten insurance policies. As of December 31, 2022, the remaining assets and liabilities of FUSB Reinsurance were transferred to the Bank, and it is anticipated that FUSB Reinsurance will be legally dissolved during 2023.</span><span style="color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;"> </span></p>
CY2022 fusb Number Of States
NumberOfStates
12
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="text-indent:5.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Use of Estimates</span></p><p style="margin-left:5.0%;text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">The accounting principles and reporting policies of the Company, and the methods of applying these principles, conform with accounting principles generally accepted in the United States of America (“U.S. GAAP”) and with general practices within the financial services industry. In preparing the consolidated financial statements, management is required to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the consolidated balance sheets, and revenues and expenses for the period included in the consolidated statements of operations and of cash flows. Actual results could differ from those estimates.</span></p><p style="margin-left:5.0%;text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Material estimates that are particularly susceptible to significant changes in the near term relate to the accounting for the allowance for loan and lease losses, the right-of-use asset and lease liability, the value of other real estate owned (“OREO”) and certain collateral-dependent loans, consideration related to goodwill impairment testing and deferred tax asset valuation. In connection with the determination of the allowance for loan losses and OREO, management generally obtains independent appraisals for significant properties, evaluates the overall portfolio characteristics and delinquencies and monitors economic conditions.</span></p>
CY2022 fusb Maximum Maturity Period For Cash Equivalents
MaximumMaturityPeriodForCashEquivalents
P90D
CY2022 us-gaap Interest Paid Net
InterestPaidNet
3873000
CY2021 us-gaap Interest Paid Net
InterestPaidNet
3018000
CY2022 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
2855000
CY2021 us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
1375000
CY2022 us-gaap Mortgage Loans On Real Estate Foreclosures
MortgageLoansOnRealEstateForeclosures
907000
CY2021 us-gaap Mortgage Loans On Real Estate Foreclosures
MortgageLoansOnRealEstateForeclosures
806000
CY2022 fusb Closed Branch Assets Transferred To Other Real Estate
ClosedBranchAssetsTransferredToOtherRealEstate
391000
CY2021 fusb Closed Branch Assets Transferred To Other Real Estate
ClosedBranchAssetsTransferredToOtherRealEstate
1978000
CY2022 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
138000
CY2021 us-gaap Stock Issued During Period Value Treasury Stock Reissued
StockIssuedDuringPeriodValueTreasuryStockReissued
59000
CY2022 fusb Number Of Investment Portfolios
NumberOfInvestmentPortfolios
3
CY2021 fusb Number Of Securities Held As Trading Securities
NumberOfSecuritiesHeldAsTradingSecurities
0
CY2022 fusb Number Of Securities Held As Trading Securities
NumberOfSecuritiesHeldAsTradingSecurities
0
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
977000
CY2021Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
770000
CY2022 us-gaap Property Plant And Equipment Estimated Useful Lives
PropertyPlantAndEquipmentEstimatedUsefulLives
three to forty years
CY2021Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
130883000
CY2021Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
3436000
CY2021Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingGain
41000
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2021Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
3477000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
511000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
511000
CY2022 us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-left:5.0%;text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:bold;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Reclassification</span></p><p style="margin-left:5.0%;text-indent:0.0%;font-size:10.0pt;margin-top:10.0pt;font-family:Times New Roman;margin-bottom:0.0pt;text-align:left;"><span style="background-color:rgba(0,0,0,0);color:rgba(0,0,0,1);white-space:pre-wrap;font-weight:normal;font-size:10.0pt;font-family:&quot;Times New Roman&quot;, serif;min-width:fit-content;">Certain disclosures in the notes to the prior period consolidated financial statements have been reclassified to conform to the 2022 presentation. These reclassifications had no effect on the Company’s results of operations, financial position or net cash flow.</span></p>
CY2022 fusb Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
5969575
CY2021 fusb Weighted Average Number Of Shares Outstanding
WeightedAverageNumberOfSharesOutstanding
6205261
CY2022 fusb Weighted Average Director Deferred Shares
WeightedAverageDirectorDeferredShares
114483
CY2021 fusb Weighted Average Director Deferred Shares
WeightedAverageDirectorDeferredShares
114096
CY2022 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6084058
CY2021 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6319357
CY2022 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
419650
CY2021 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
420250
CY2022 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6503708
CY2021 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6739607
CY2022 us-gaap Net Income Loss
NetIncomeLoss
6864000
CY2021 us-gaap Net Income Loss
NetIncomeLoss
4451000
CY2022 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.13
CY2021 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.70
CY2022 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.06
CY2021 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.66
CY2022Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
141883000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedGainBeforeTax
8000
CY2022Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
AvailableForSaleDebtSecuritiesAccumulatedGrossUnrealizedLossBeforeTax
11096000
CY2022Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
130795000
CY2022Q4 us-gaap Held To Maturity Securities
HeldToMaturitySecurities
1862000
CY2022Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
HeldToMaturitySecuritiesAccumulatedUnrecognizedHoldingLoss
93000
CY2022Q4 us-gaap Held To Maturity Securities Fair Value
HeldToMaturitySecuritiesFairValue
1769000
CY2021Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
130676000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
61068000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
57159000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
67309000
CY2022Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
60872000
CY2022Q4 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Net Carrying Amount
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1606000
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CY2021 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
154000
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
-76000
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
126000
CY2022 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
414000
CY2021 us-gaap State And Local Income Tax Expense Benefit Continuing Operations
StateAndLocalIncomeTaxExpenseBenefitContinuingOperations
280000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2148000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1275000
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.210
CY2022 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1892000
CY2021 us-gaap Income Tax Reconciliation Income Tax Expense Benefit At Federal Statutory Income Tax Rate
IncomeTaxReconciliationIncomeTaxExpenseBenefitAtFederalStatutoryIncomeTaxRate
1202000
CY2022 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
76000
CY2021 us-gaap Income Tax Reconciliation Tax Exempt Income
IncomeTaxReconciliationTaxExemptIncome
88000
CY2022 fusb Income Tax Reconciliation Deductions Life Insurance Amount
IncomeTaxReconciliationDeductionsLifeInsuranceAmount
62000
CY2021 fusb Income Tax Reconciliation Deductions Life Insurance Amount
IncomeTaxReconciliationDeductionsLifeInsuranceAmount
62000
CY2022 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
329000
CY2021 us-gaap Income Tax Reconciliation State And Local Income Taxes
IncomeTaxReconciliationStateAndLocalIncomeTaxes
169000
CY2022 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
65000
CY2021 us-gaap Income Tax Reconciliation Other Adjustments
IncomeTaxReconciliationOtherAdjustments
54000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2148000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1275000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
2333000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Reserves And Accruals Provision For Loan Losses
DeferredTaxAssetsTaxDeferredExpenseReservesAndAccrualsProvisionForLoanLosses
2065000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
895000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
947000
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
407000
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense
DeferredTaxAssetsTaxDeferredExpense
243000
CY2022Q4 us-gaap Deferred Tax Assets Unrealized Losses On Availablefor Sale Securities Gross
DeferredTaxAssetsUnrealizedLossesOnAvailableforSaleSecuritiesGross
2715000
CY2021Q4 fusb Deferred Tax Assets Unrealized Losses On Derivatives Designated As Cash Flow Hedges
DeferredTaxAssetsUnrealizedLossesOnDerivativesDesignatedAsCashFlowHedges
144000
CY2022Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
905000
CY2021Q4 us-gaap Deferred Tax Assets Other
DeferredTaxAssetsOther
862000
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
7255000
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
4261000
CY2022Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1288000
CY2021Q4 us-gaap Deferred Tax Liabilities Property Plant And Equipment
DeferredTaxLiabilitiesPropertyPlantAndEquipment
1248000
CY2022Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
91000
CY2021Q4 us-gaap Deferred Tax Liabilities Goodwill And Intangible Assets Intangible Assets
DeferredTaxLiabilitiesGoodwillAndIntangibleAssetsIntangibleAssets
158000
CY2022Q4 fusb Deferred Tax Liabilities Partnerships
DeferredTaxLiabilitiesPartnerships
94000
CY2021Q4 fusb Deferred Tax Liabilities Partnerships
DeferredTaxLiabilitiesPartnerships
87000
CY2021Q4 us-gaap Deferred Tax Liabilities Unrealized Gains On Trading Securities
DeferredTaxLiabilitiesUnrealizedGainsOnTradingSecurities
52000
CY2022Q4 fusb Deferred Tax Liabilities Unrealized Gains On Cash Flow Hedges
DeferredTaxLiabilitiesUnrealizedGainsOnCashFlowHedges
301000
CY2022Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
341000
CY2021Q4 us-gaap Deferred Tax Liabilities Other
DeferredTaxLiabilitiesOther
266000
CY2022Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
2115000
CY2021Q4 us-gaap Deferred Income Tax Liabilities
DeferredIncomeTaxLiabilities
1811000
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
5140000
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2450000
CY2022Q4 us-gaap Unrecognized Tax Benefits
UnrecognizedTaxBenefits
0
CY2022 us-gaap Unrecognized Tax Benefits Period Increase Decrease
UnrecognizedTaxBenefitsPeriodIncreaseDecrease
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2022Q4 us-gaap Unrecognized Tax Benefits Income Tax Penalties Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAccrued
0
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
0
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
419650
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.79
CY2021 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
CY2022 us-gaap Defined Contribution Plan Employer Matching Contribution Percent Of Match
DefinedContributionPlanEmployerMatchingContributionPercentOfMatch
1
CY2022 fusb Defined Contribution Plan Discretionary Contribution Percent
DefinedContributionPlanDiscretionaryContributionPercent
0.02
CY2022 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
400000
CY2021 us-gaap Defined Contribution Plan Employer Discretionary Contribution Amount
DefinedContributionPlanEmployerDiscretionaryContributionAmount
500000
CY2022 us-gaap Defined Contribution Plan Maximum Annual Contributions Per Employee Percent
DefinedContributionPlanMaximumAnnualContributionsPerEmployeePercent
0.20
CY2022Q4 us-gaap Defined Benefit Plan Number Of Shares Of Equity Securities Issued By Employer And Related Parties Included In Plan Assets
DefinedBenefitPlanNumberOfSharesOfEquitySecuritiesIssuedByEmployerAndRelatedPartiesIncludedInPlanAssets
184987
CY2021Q4 us-gaap Defined Benefit Plan Number Of Shares Of Equity Securities Issued By Employer And Related Parties Included In Plan Assets
DefinedBenefitPlanNumberOfSharesOfEquitySecuritiesIssuedByEmployerAndRelatedPartiesIncludedInPlanAssets
238514
CY2022Q4 us-gaap Deferred Compensation Arrangement With Individual Common Stock Reserved For Future Issuance
DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance
114190
CY2021Q4 us-gaap Deferred Compensation Arrangement With Individual Common Stock Reserved For Future Issuance
DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance
117825
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
420250
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.79
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
421000
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.79
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
0
CY2022 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
0
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
0
CY2021 us-gaap Stock Issued During Period Shares Stock Options Exercised
StockIssuedDuringPeriodSharesStockOptionsExercised
750
CY2021 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
8.23
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
600
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.86
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresInPeriod
0
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
420250
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.79
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
416249
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.77
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
395678
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.74
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
100000
CY2021Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
600000
CY2022 us-gaap Dividends Common Stock
DividendsCommonStock
800000
CY2022 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.14
CY2021 us-gaap Dividends Common Stock
DividendsCommonStock
700000
CY2021 us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.12
CY2022 fusb Capital Conservation Buffer Rate
CapitalConservationBufferRate
0.0250
CY2022Q4 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
92853000
CY2022Q4 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.1107
CY2022Q4 fusb Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.0700
CY2022Q4 fusb Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Asset
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAsset
0.0650
CY2022Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
92853000
CY2022Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1107
CY2022Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.0850
CY2022Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.0800
CY2022Q4 us-gaap Capital
Capital
102275000
CY2022Q4 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.1219
CY2022Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.1050
CY2022Q4 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.1000
CY2022Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
92853000
CY2022Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.0939
CY2022Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.0400
CY2022Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.0500
CY2021Q4 us-gaap Common Equity Tier One Capital
CommonEquityTierOneCapital
87379000
CY2021Q4 us-gaap Common Equity Tier One Capital Ratio
CommonEquityTierOneCapitalRatio
0.1136
CY2021Q4 fusb Common Equity Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
CommonEquityTierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.0700
CY2021Q4 fusb Common Equity Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Asset
CommonEquityTierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAsset
0.0650
CY2021Q4 us-gaap Tier One Risk Based Capital
TierOneRiskBasedCapital
87379000
CY2021Q4 us-gaap Tier One Risk Based Capital To Risk Weighted Assets
TierOneRiskBasedCapitalToRiskWeightedAssets
0.1136
CY2021Q4 us-gaap Tier One Risk Based Capital Required For Capital Adequacy To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.0850
CY2021Q4 us-gaap Tier One Risk Based Capital Required To Be Well Capitalized To Risk Weighted Assets
TierOneRiskBasedCapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.0800
CY2021Q4 us-gaap Capital
Capital
95699000
CY2021Q4 us-gaap Capital To Risk Weighted Assets
CapitalToRiskWeightedAssets
0.1244
CY2021Q4 us-gaap Capital Required For Capital Adequacy To Risk Weighted Assets
CapitalRequiredForCapitalAdequacyToRiskWeightedAssets
0.1050
CY2021Q4 us-gaap Capital Required To Be Well Capitalized To Risk Weighted Assets
CapitalRequiredToBeWellCapitalizedToRiskWeightedAssets
0.1000
CY2021Q4 us-gaap Tier One Leverage Capital
TierOneLeverageCapital
87379000
CY2021Q4 us-gaap Tier One Leverage Capital To Average Assets
TierOneLeverageCapitalToAverageAssets
0.0917
CY2021Q4 us-gaap Tier One Leverage Capital Required For Capital Adequacy To Average Assets
TierOneLeverageCapitalRequiredForCapitalAdequacyToAverageAssets
0.0400
CY2021Q4 us-gaap Tier One Leverage Capital Required To Be Well Capitalized To Average Assets
TierOneLeverageCapitalRequiredToBeWellCapitalizedToAverageAssets
0.0500
CY2022 us-gaap Dividend Payment Restrictions Schedule Description
DividendPaymentRestrictionsScheduleDescription
Under Alabama law, a state-chartered bank must annually transfer to surplus at least 10% of its “net earnings” (defined as the remainder of all earnings from current operations plus actual recoveries on loans and investments and other assets, less all current operating expenses, actual losses, accrued dividends on preferred stock and all federal, state and local taxes) until the bank’s surplus is at least 20% of its capital. Until the bank’s surplus reaches this level, a bank may not declare a dividend in excess of 90% of its net earnings. Once a bank’s surplus equals or exceeds 20% of its capital, if the total of all dividends declared by the bank in a calendar year will exceed the sum of its net earnings for that year and its retained net earnings for the preceding two years (less any required transfers to surplus), then the bank must obtain prior written approval from the Superintendent of the Alabama State Banking Department. The bank may not pay any dividends or make any withdrawals or transfers from surplus without the prior written approval of the Superintendent. The FDIC prohibits the payment of cash dividends if (1) as a result of such payment, the bank would be undercapitalized or (2) the bank is in default with respect to any assessment due to the FDIC, including a deposit insurance assessment. These restrictions could materially influence the Bank’s, and therefore Bancshares’, ability to pay dividends.
CY2022Q4 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2022 fusb Lessee Operating Lease Period Of Option To Terminate
LesseeOperatingLeasePeriodOfOptionToTerminate
P1Y
CY2022 us-gaap Lease Cost
LeaseCost
434000
CY2021 us-gaap Lease Cost
LeaseCost
999000
CY2022 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
864000
CY2021 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
830000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
1883000
CY2021Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
2245000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1961000
CY2021Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
2317000
CY2022Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10D
CY2021Q4 us-gaap Operating Lease Weighted Average Remaining Lease Term1
OperatingLeaseWeightedAverageRemainingLeaseTerm1
P5Y10M24D
CY2022Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0330
CY2021Q4 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0329
CY2022 us-gaap Operating Lease Payments
OperatingLeasePayments
427000
CY2021 us-gaap Operating Lease Payments
OperatingLeasePayments
859000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
432000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
438000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
339000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
346000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due Year Five
LesseeOperatingLeaseLiabilityPaymentsDueYearFive
353000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
238000
CY2022Q4 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
2146000
CY2022Q4 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
185000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
1961000
CY2022Q4 us-gaap Assets Under Management Carrying Amount
AssetsUnderManagementCarryingAmount
32233000
CY2022Q4 us-gaap Hedged Asset Fair Value Hedge Cumulative Increase Decrease
HedgedAssetFairValueHedgeCumulativeIncreaseDecrease
1101000
CY2022Q4 fusb Amortized Cost Basis Of Closed Portfolios Used In Hedging Relationships
AmortizedCostBasisOfClosedPortfoliosUsedInHedgingRelationships
33300000
CY2022Q4 fusb Cumulative Basis Adjustments Associated With Hedging Relationships
CumulativeBasisAdjustmentsAssociatedWithHedgingRelationships
1100000
CY2022Q4 us-gaap Derivative Amount Of Hedged Item
DerivativeAmountOfHedgedItem
20000000
CY2022 us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
41197000
CY2022 us-gaap Interest Expense
InterestExpense
4256000
CY2022 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
36941000
CY2022 fusb Provision Reduction In Reserve For Loan Losses
ProvisionReductionInReserveForLoanLosses
3308000
CY2022 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
33633000
CY2022 us-gaap Noninterest Income
NoninterestIncome
3451000
CY2022 us-gaap Noninterest Expense
NoninterestExpense
28072000
CY2022 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
9012000
CY2022 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
2148000
CY2022 us-gaap Profit Loss
ProfitLoss
6864000
CY2022Q4 us-gaap Assets
Assets
994667000
CY2022Q4 us-gaap Marketable Securities
MarketableSecurities
132657000
CY2022Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
764451000
CY2022Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
7801000
CY2022 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
1262000
CY2022 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1614000
CY2022 fusb Interest Income From External Customers
InterestIncomeFromExternalCustomers
41197000
CY2021 us-gaap Interest And Dividend Income Operating
InterestAndDividendIncomeOperating
39921000
CY2021 us-gaap Interest Expense
InterestExpense
2950000
CY2021 us-gaap Interest Income Expense Net
InterestIncomeExpenseNet
36971000
CY2021 fusb Provision Reduction In Reserve For Loan Losses
ProvisionReductionInReserveForLoanLosses
2010000
CY2021 us-gaap Interest Income Expense After Provision For Loan Loss
InterestIncomeExpenseAfterProvisionForLoanLoss
34961000
CY2021 us-gaap Noninterest Income
NoninterestIncome
3521000
CY2021 us-gaap Noninterest Expense
NoninterestExpense
32756000
CY2021 us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
5726000
CY2021 us-gaap Income Tax Expense Benefit
IncomeTaxExpenseBenefit
1275000
CY2021 us-gaap Profit Loss
ProfitLoss
4451000
CY2021Q4 us-gaap Assets
Assets
958302000
CY2021Q4 us-gaap Marketable Securities
MarketableSecurities
134319000
CY2021Q4 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
700030000
CY2021Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
8069000
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
822000
CY2021 us-gaap Depreciation And Amortization
DepreciationAndAmortization
1692000
CY2021 fusb Interest Income From External Customers
InterestIncomeFromExternalCustomers
39921000
CY2022 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
451000
CY2021 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
439000
CY2022 fusb Credit Insurance Commissions And Fees
CreditInsuranceCommissionsAndFees
-93000
CY2021 fusb Credit Insurance Commissions And Fees
CreditInsuranceCommissionsAndFees
192000
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Files In Submission

Name View Source Status
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