2020 Q2 Form 10-Q Financial Statement

#000156459020039594 Filed on August 12, 2020

View on sec.gov

Income Statement

Concept 2020 Q2 2019 Q2
Revenue $9.780M $10.92M
YoY Change -10.46% 30.19%
Cost Of Revenue $85.00K $71.00K
YoY Change 19.72%
Gross Profit $9.695M $10.85M
YoY Change -10.66%
Gross Profit Margin 99.13% 99.35%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $229.0K $205.0K
YoY Change 11.71%
% of Gross Profit 2.36% 1.89%
Depreciation & Amortization $520.0K $530.0K
YoY Change -1.89% 51.43%
% of Gross Profit 5.36% 4.88%
Operating Expenses $1.568M $1.609M
YoY Change -2.55%
Operating Profit $8.127M $9.243M
YoY Change -12.07%
Interest Expense $1.157M $1.690M
YoY Change -31.54% 90.32%
% of Operating Profit 14.24% 18.28%
Other Income/Expense, Net
YoY Change
Pretax Income $522.0K $1.305M
YoY Change -60.0% 196.59%
Income Tax $118.0K $300.0K
% Of Pretax Income 22.61% 22.99%
Net Earnings $404.0K $1.005M
YoY Change -59.8% 179.94%
Net Earnings / Revenue 4.13% 9.2%
Basic Earnings Per Share $0.07 $0.16
Diluted Earnings Per Share $0.06 $0.15
COMMON SHARES
Basic Shares Outstanding 6.276M 6.424M
Diluted Shares Outstanding 6.698M 6.851M

Balance Sheet

Concept 2020 Q2 2019 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $212.2M $181.5M
YoY Change 16.93% -12.54%
Cash & Equivalents $108.3M $44.86M
Short-Term Investments $104.0M $136.6M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $28.70M $29.49M
YoY Change -2.68% 11.98%
Goodwill $7.435M $7.435M
YoY Change 0.0%
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $845.7M $777.2M
YoY Change 8.82% 22.58%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $400.0K $500.0K
YoY Change -20.0% 25.0%
Accrued Expenses
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $10.30M $73.00K
YoY Change 14009.59% -99.3%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $400.0K $500.0K
YoY Change -20.0% 25.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $11.40M $10.00M
YoY Change 14.0% 61.29%
Total Long-Term Liabilities $11.40M $10.00M
YoY Change 14.0% 61.29%
TOTAL LIABILITIES
Total Short-Term Liabilities $400.0K $500.0K
Total Long-Term Liabilities $11.40M $10.00M
Total Liabilities $760.5M $693.4M
YoY Change 9.67% 24.18%
SHAREHOLDERS EQUITY
Retained Earnings $90.74M
YoY Change 4.05%
Common Stock $13.72M
YoY Change 24.25%
Preferred Stock
YoY Change
Treasury Stock (at cost) $20.37M
YoY Change -0.21%
Treasury Stock Shares $1.262M
Shareholders Equity $85.30M $83.70M
YoY Change
Total Liabilities & Shareholders Equity $845.7M $777.2M
YoY Change 8.82% 22.58%

Cashflow Statement

Concept 2020 Q2 2019 Q2
OPERATING ACTIVITIES
Net Income $404.0K $1.005M
YoY Change -59.8% 179.94%
Depreciation, Depletion And Amortization $520.0K $530.0K
YoY Change -1.89% 51.43%
Cash From Operating Activities $1.410M $3.230M
YoY Change -56.35% 34.58%
INVESTING ACTIVITIES
Capital Expenditures $228.0K $951.0K
YoY Change -76.03% 92.51%
Acquisitions
YoY Change
Other Investing Activities -$4.720M $3.150M
YoY Change -249.84% -643.1%
Cash From Investing Activities -$4.950M $2.200M
YoY Change -325.0% -288.03%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 55.70M -20.61M
YoY Change -370.26% -437.87%
NET CHANGE
Cash From Operating Activities 1.410M 3.230M
Cash From Investing Activities -4.950M 2.200M
Cash From Financing Activities 55.70M -20.61M
Net Change In Cash 52.16M -15.18M
YoY Change -443.61% -307.09%
FREE CASH FLOW
Cash From Operating Activities $1.410M $3.230M
Capital Expenditures $228.0K $951.0K
Free Cash Flow $1.182M $2.279M
YoY Change -48.14% 19.57%

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us-gaap Nature Of Operations
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<div align="left"> <table border="0" cellspacing="0" cellpadding="0" style="border-collapse:collapse; width:100%;"> <tr> <td valign="top" style="width:3.12%;white-space:nowrap"> <p style="margin-top:12pt;margin-bottom:0pt;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;"><font style="font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">1.</font></p></td> <td valign="top"> <p style="margin-top:12pt;margin-bottom:0pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;font-family:Times New Roman;font-size:12pt;"><font style="font-size:10pt;">GENERAL</font></p></td></tr></table></div> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The accompanying unaudited interim condensed consolidated financial statements include the accounts of First US Bancshares, Inc. (&#8220;Bancshares&#8221;) and its subsidiaries (collectively, the &#8220;Company&#8221;). Bancshares is the parent holding company of First US Bank (the &#8220;Bank&#8221;). The Bank operates a finance company subsidiary, Acceptance Loan Company, Inc. (&#8220;ALC&#8221;). Management has determined that the Bank and ALC comprise Bancshares&#8217; two reportable operating segments. All significant intercompany transactions and accounts have been eliminated.</p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The unaudited interim condensed consolidated financial statements, in the opinion of management, reflect all adjustments necessary for a fair presentation of the Company&#8217;s consolidated financial position, results of operations and cash flows for the periods presented. Such adjustments are of a normal, recurring nature. The results of operations for any interim period are not necessarily indicative of results expected for the fiscal year ending December 31, 2020. While certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (&#8220;U.S. GAAP&#8221;) have been condensed or omitted pursuant to the rules and regulations of the Securities and Exchange Commission (&#8220;SEC&#8221;), management believes that the disclosures herein are adequate to make the information presented not misleading. These unaudited interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto contained in the Company&#8217;s Annual Report on Form 10-K as of and for the year ended December 31, 2019.</p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Risks and Uncertainties</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The COVID-19 pandemic and its associated impacts on trade (including supply chains and export levels), travel, employee productivity and other economic activities have had, are currently having, and may for some time continue to have a destabilizing effect on financial markets and economic activity. The extent of the impact of COVID-19 on the Company&#8217;s operational and financial performance is currently uncertain, cannot be predicted and will depend on certain developments, including, among others, the duration and spread of COVID-19, its impact on our customers, employees and vendors, and the continued governmental, regulatory and private sector responses, which may be precautionary, to the coronavirus.&nbsp;&nbsp;</p> <p style="text-align:justify;margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;">&nbsp;</p> <p style="margin-bottom:0pt;margin-top:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">The Company&#8217;s business, financial condition and results of operations generally rely upon the ability of the Company&#8217;s borrowers to repay their loans, the value of collateral underlying those loans, and demand for loans and other products and services that the Company offers, which are highly dependent on the business environment in the Company&#8217;s primary markets and the United States economy as a whole.</p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">In light of the changing economic outlook as a result of COVID-19, as well as other factors, in March 2020, the 10-year Treasury yield was reduced to historic lows, and the equity markets were significantly impacted. In response, the Federal Reserve reduced the target federal funds rate by 50 basis points on March 3, 2020, and then by an additional 100 basis points on March 15, 2020. These reductions in interest rates and other economic uncertainties that have arisen as a result primarily of the COVID-19 pandemic have negatively impacted net interest income, provisions for loan losses and noninterest income. Additional negative financial impacts could occur; however, the ultimate potential impact is not known at this time.</p>
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-weight:bold;font-family:Times New Roman;font-size:10pt;font-style:normal;text-transform:none;font-variant: normal;">Reclassification</p> <p style="margin-top:10pt;margin-bottom:0pt;text-indent:0%;font-family:Times New Roman;font-size:10pt;font-weight:normal;font-style:normal;text-transform:none;font-variant: normal;">Certain disclosures in the notes to the prior period consolidated financial statements have been reclassified to conform to the 2020 presentation. These reclassifications had no effect on the Company&#8217;s results of operations, financial position or net cash flow.</p>
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2020Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6276001
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
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6423642
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6279079
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
6420653
CY2020Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
422000
CY2019Q2 us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
427282
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
422000
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
427282
CY2020Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
6698001
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
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6850924
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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6701079
us-gaap Weighted Average Number Of Diluted Shares Outstanding
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6847935
CY2020Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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92837000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Gain Before Tax
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2047000
CY2020Q2 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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226000
CY2020Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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167000
CY2020Q2 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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4000
CY2020Q2 us-gaap Held To Maturity Securities Fair Value
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9469000
CY2019Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
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94071000
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540000
CY2019Q4 us-gaap Available For Sale Debt Securities Accumulated Gross Unrealized Loss Before Tax
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595000
CY2019Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Gain
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22000
CY2019Q4 us-gaap Held To Maturity Securities Accumulated Unrecognized Holding Loss
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56000
CY2019Q4 us-gaap Held To Maturity Securities Fair Value
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CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
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3493000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
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4655000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
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47024000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
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37665000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
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3523000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
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4802000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
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48326000
CY2020Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
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38007000
CY2020Q2 us-gaap Held To Maturity Securities Debt Maturities Within One Year Net Carrying Amount
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22000
CY2020Q2 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Net Carrying Amount
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765000
CY2020Q2 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Net Carrying Amount
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3594000
CY2020Q2 us-gaap Held To Maturity Securities Debt Maturities After Ten Years Net Carrying Amount
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4925000
CY2020Q2 us-gaap Held To Maturity Securities Debt Maturities Within One Year Fair Value
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22000
CY2020Q2 us-gaap Held To Maturity Securities Debt Maturities After One Through Five Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
783000
CY2020Q2 us-gaap Held To Maturity Securities Debt Maturities After Five Through Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
3659000
CY2020Q2 us-gaap Held To Maturity Securities Debt Maturities After Ten Years Fair Value
HeldToMaturitySecuritiesDebtMaturitiesAfterTenYearsFairValue
5005000
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
7049000
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
13000
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
4481000
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
213000
CY2020Q2 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
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771000
CY2020Q2 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
4000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
21214000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
91000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
39848000
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
504000
CY2019Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
1531000
CY2019Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
4000
CY2019Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Twelve Months Or Longer Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionTwelveMonthsOrLongerFairValue
9399000
CY2019Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
HeldToMaturitySecuritiesContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
52000
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
8
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
69
CY2020Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
11
CY2019Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
35
fusb Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings Interest Rate
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarningsInterestRate
0.0150
us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2019Q4 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Outstanding Balance
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesOutstandingBalance
224000
CY2020Q2 fusb Certain Loans Acquired In Transfer Accounted For As Debt Securities Fair Value Adjustment
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesFairValueAdjustment
-33000
CY2019Q4 fusb Certain Loans Acquired In Transfer Accounted For As Debt Securities Fair Value Adjustment
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesFairValueAdjustment
-49000
CY2020Q2 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Carrying Amount Net
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesCarryingAmountNet
167000
CY2019Q4 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Carrying Amount Net
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesCarryingAmountNet
175000
CY2020Q2 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
0
CY2019 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2020Q2 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
64400000
CY2019Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
51700000
CY2020Q2 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
577886000
CY2020Q2 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
5401000
CY2019Q4 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
556053000
CY2019Q4 us-gaap Loans And Leases Receivable Deferred Income
LoansAndLeasesReceivableDeferredIncome
5048000
CY2019Q4 fusb Transfer Of Indirect Sales Portfolio To Bank
TransferOfIndirectSalesPortfolioToBank
45500000
CY2020Q2 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
32600000
CY2019Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
34600000
CY2020Q2 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
500000
CY2019Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
900000
us-gaap Loans And Leases Receivable Related Parties Additions
LoansAndLeasesReceivableRelatedPartiesAdditions
0
CY2019 us-gaap Loans And Leases Receivable Related Parties Additions
LoansAndLeasesReceivableRelatedPartiesAdditions
100000
us-gaap Loans And Leases Receivable Related Parties Proceeds
LoansAndLeasesReceivableRelatedPartiesProceeds
400
CY2019 us-gaap Loans And Leases Receivable Related Parties Proceeds
LoansAndLeasesReceivableRelatedPartiesProceeds
22000000
CY2018Q3 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Outstanding Balance
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesOutstandingBalance
2900000
CY2018Q3 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Carrying Amount Net
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesCarryingAmountNet
2800000
CY2020Q2 us-gaap Certain Loans Acquired In Transfer Accounted For As Debt Securities Outstanding Balance
CertainLoansAcquiredInTransferAccountedForAsDebtSecuritiesOutstandingBalance
200000
CY2019Q4 us-gaap Certain Loans Acquired In Transfer Accretable Yield
CertainLoansAcquiredInTransferAccretableYield
0
us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
1263000
us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
494000
fusb Provision Reduction In Reserve For Loan Losses
ProvisionReductionInReserveForLoanLosses
1430000
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
78000
CY2020Q2 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
6345000
CY2020Q2 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
3620000
CY2020Q2 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
574099000
CY2020Q2 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
2879000
CY2020Q2 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
575007000
CY2020Q2 fusb Percentage Of Loans And Leases Past Due
PercentageOfLoansAndLeasesPastDue
0.0050
CY2020Q2 fusb Percentage Of Loans And Leases Current
PercentageOfLoansAndLeasesCurrent
0.9950
CY2020Q2 fusb Percentage Of Loans And Leases
PercentageOfLoansAndLeases
1.0000
CY2019Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
4967000
CY2019Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
551086000
CY2019Q4 fusb Percentage Of Loans And Leases Past Due
PercentageOfLoansAndLeasesPastDue
0.0089
CY2019Q4 fusb Percentage Of Loans And Leases Current
PercentageOfLoansAndLeasesCurrent
0.9911
CY2019Q4 fusb Percentage Of Loans And Leases
PercentageOfLoansAndLeases
1.0000
CY2020Q2 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
3415000
CY2019Q4 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
3723000
CY2020Q2 fusb Percentage Of Loan Balance To Major Franchises
PercentageOfLoanBalanceToMajorFranchises
0.90
CY2020Q2 fusb Percentage Of Restaurants Loan Balance Accounted To Franchised Fast Food
PercentageOfRestaurantsLoanBalanceAccountedToFranchisedFastFood
0.54
CY2020Q2 fusb Percentage Of Loan Balance Accounted To Dine In Restaurant
PercentageOfLoanBalanceAccountedToDineInRestaurant
0.46
fusb Lease Term For Contract
LeaseTermForContract
P12M
CY2020Q2 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
100000
CY2019Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
100000
CY2020Q2 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
3680000
CY2020Q2 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
3680000
CY2020Q2 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
107000
CY2020Q2 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
107000
CY2020Q2 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
78000
CY2020Q2 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
3787000
CY2020Q2 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
3787000
CY2019Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
2861000
CY2019Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
2861000
CY2019Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
256000
CY2019Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
256000
CY2019Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
3117000
CY2019Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
3117000
us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
3756000
us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
23000
us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
23000
CY2019 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
2876000
CY2019 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
86000
CY2019 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
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86000
CY2020Q2 us-gaap Loans And Leases Receivable Impaired Nonperforming Nonaccrual Of Interest
LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest
3400000
CY2019Q4 us-gaap Loans And Leases Receivable Impaired Nonperforming Nonaccrual Of Interest
LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest
3700000
us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
45000
CY2019 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
41000
CY2020Q2 fusb Interest Income Recorded
InterestIncomeRecorded
27000
CY2019Q4 fusb Interest Income Recorded
InterestIncomeRecorded
147000
CY2020Q2 fusb Financing Receivable Restructuring Recorded Investment With Nonaccrual Status
FinancingReceivableRestructuringRecordedInvestmentWithNonaccrualStatus
12000
CY2019Q4 fusb Financing Receivable Restructuring Recorded Investment With Nonaccrual Status
FinancingReceivableRestructuringRecordedInvestmentWithNonaccrualStatus
16000
CY2020Q2 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Acquired During Period Cash Flows Expected To Be Collected At Acquisition
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodCashFlowsExpectedToBeCollectedAtAcquisition
0
CY2019Q4 us-gaap Certain Loans Acquired In Transfer Not Accounted For As Debt Securities Acquired During Period Cash Flows Expected To Be Collected At Acquisition
CertainLoansAcquiredInTransferNotAccountedForAsDebtSecuritiesAcquiredDuringPeriodCashFlowsExpectedToBeCollectedAtAcquisition
0
us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
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0
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CY2020Q2 us-gaap Marketable Securities
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424000
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458000
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CY2020Q2 fusb Interest Income From External Customers
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us-gaap Depreciation And Amortization
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806000
fusb Interest Income From External Customers
InterestIncomeFromExternalCustomers
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CY2019Q2 fusb Provision Reduction In Reserve For Loan Losses
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715000
CY2019Q2 us-gaap Assets
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CY2019Q2 us-gaap Marketable Securities
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CY2019Q2 us-gaap Intangible Assets Net Including Goodwill
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9056000
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us-gaap Depreciation And Amortization
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796000
fusb Interest Income From External Customers
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CY2020Q2 us-gaap Bank Owned Life Insurance Income
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107000
CY2019Q2 us-gaap Bank Owned Life Insurance Income
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108000
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215000
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214000
CY2020Q2 fusb Auto Club Revenue
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62000
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AutoClubRevenue
53000
fusb Auto Club Revenue
AutoClubRevenue
100000
CY2020Q2 fusb Other Income Atm Fees
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CY2019Q4 us-gaap Self Insurance Reserve
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200000

Files In Submission

Name View Source Status
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0001564590-20-039594.txt Edgar Link pending
0001564590-20-039594-xbrl.zip Edgar Link pending
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Financial_Report.xlsx Edgar Link pending
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