2021 Q1 Form 10-Q Financial Statement

#000156459021026410 Filed on May 11, 2021

View on sec.gov

Income Statement

Concept 2021 Q1 2020 Q1
Revenue $9.845M $10.40M
YoY Change -5.31% -3.85%
Cost Of Revenue $64.00K $91.00K
YoY Change -29.67% 26.39%
Gross Profit $9.781M $10.31M
YoY Change -5.09% -4.05%
Gross Profit Margin 99.35% 99.12%
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development $232.0K $223.0K
YoY Change 4.04% 4.69%
% of Gross Profit 2.37% 2.16%
Depreciation & Amortization $540.0K $510.0K
YoY Change 5.88% -3.77%
% of Gross Profit 5.52% 4.95%
Operating Expenses $1.621M $1.662M
YoY Change -2.47% -6.79%
Operating Profit $8.160M $8.644M
YoY Change -5.6% -3.51%
Interest Expense $781.0K $1.511M
YoY Change -48.31% -7.87%
% of Operating Profit 9.57% 17.48%
Other Income/Expense, Net
YoY Change
Pretax Income $1.218M $1.109M
YoY Change 9.83% -30.03%
Income Tax $268.0K $262.0K
% Of Pretax Income 22.0% 23.62%
Net Earnings $950.0K $847.0K
YoY Change 12.16% -31.36%
Net Earnings / Revenue 9.65% 8.15%
Basic Earnings Per Share $0.15 $0.13
Diluted Earnings Per Share $0.14 $0.13
COMMON SHARES
Basic Shares Outstanding 6.307M 6.281M
Diluted Shares Outstanding 6.728M 6.703M

Balance Sheet

Concept 2021 Q1 2020 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $201.7M $166.2M
YoY Change 21.33% -20.12%
Cash & Equivalents $125.9M $56.12M
Short-Term Investments $75.78M $110.1M
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $30.90M $29.10M
YoY Change 6.19% 0.52%
Goodwill $7.435M $7.435M
YoY Change 0.0% 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 $926.5M $788.6M
YoY Change 17.5% -0.85%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $200.0K $500.0K
YoY Change -60.0% 0.0%
Accrued Expenses $3.000M
YoY Change
Deferred Revenue
YoY Change
Short-Term Debt $10.20M
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $3.200M $500.0K
YoY Change 540.0% 0.0%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $7.300M $11.00M
YoY Change -33.64% 11.11%
Total Long-Term Liabilities $7.300M $11.00M
YoY Change -33.64% 11.11%
TOTAL LIABILITIES
Total Short-Term Liabilities $3.200M $500.0K
Total Long-Term Liabilities $7.300M $11.00M
Total Liabilities $838.6M $704.2M
YoY Change 19.09% -1.34%
SHAREHOLDERS EQUITY
Retained Earnings
YoY Change
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $87.90M $84.30M
YoY Change
Total Liabilities & Shareholders Equity $926.5M $788.6M
YoY Change 17.49% -0.85%

Cashflow Statement

Concept 2021 Q1 2020 Q1
OPERATING ACTIVITIES
Net Income $950.0K $847.0K
YoY Change 12.16% -31.36%
Depreciation, Depletion And Amortization $540.0K $510.0K
YoY Change 5.88% -3.77%
Cash From Operating Activities $1.887M $999.0K
YoY Change 88.89% -51.99%
INVESTING ACTIVITIES
Capital Expenditures $122.0K $233.0K
YoY Change -47.64% -86.22%
Acquisitions
YoY Change
Other Investing Activities -$5.950M -$100.0K
YoY Change 5850.0% -100.83%
Cash From Investing Activities -$6.073M -$332.0K
YoY Change 1729.22% -103.2%
FINANCING ACTIVITIES
Cash Dividend Paid $186.0K $184.0K
YoY Change 1.09% 46.03%
Common Stock Issuance & Retirement, Net $452.0K
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 35.64M -1.576M
YoY Change -2361.29% -21.86%
NET CHANGE
Cash From Operating Activities 1.887M 999.0K
Cash From Investing Activities -6.073M -332.0K
Cash From Financing Activities 35.64M -1.576M
Net Change In Cash 31.45M -909.0K
YoY Change -3560.07% -108.7%
FREE CASH FLOW
Cash From Operating Activities $1.887M $999.0K
Capital Expenditures $122.0K $233.0K
Free Cash Flow $1.765M $766.0K
YoY Change 130.42% 96.41%

Facts In Submission

Frame Concept Type Concept / XBRL Key Value Unit
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CY2021Q1 us-gaap Nature Of Operations
NatureOfOperations
<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, 2021. 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, 2020.</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 spread of COVID-19 and its variants, vaccination efforts, the duration of the pandemic, its impact on our customers, employees and vendors, and the continued governmental, regulatory and private sector responses, which may be precautionary, to COVID-19.&nbsp;&nbsp;</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 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, in March 2020, the Federal Reserve reduced the target federal funds rate by 150 basis points. The reduction 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>
CY2021Q1 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 2021 presentation. These reclassifications had no effect on the Company&#8217;s results of operations, financial position or net cash flow.</p>
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CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
90000
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
15041000
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
3000
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
4346000
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
148000
CY2020Q4 us-gaap Held To Maturity Securities Continuous Unrealized Loss Position Less Than Twelve Months Fair Value
HeldToMaturitySecuritiesContinuousUnrealizedLossPositionLessThanTwelveMonthsFairValue
412000
CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
10
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerNumberOfPositions
9
CY2021Q1 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
4
CY2020Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Number Of Positions
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsNumberOfPositions
11
CY2021Q1 fusb Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings Interest Rate
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarningsInterestRate
0.0150
CY2021Q1 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2020 us-gaap Other Than Temporary Impairment Loss Debt Securities Available For Sale Recognized In Earnings
OtherThanTemporaryImpairmentLossDebtSecuritiesAvailableForSaleRecognizedInEarnings
0
CY2021Q1 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
55700000
CY2020Q4 us-gaap Debt Securities Available For Sale Restricted
DebtSecuritiesAvailableForSaleRestricted
72900000
CY2021Q1 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
59000000
CY2020Q4 us-gaap Loans Pledged As Collateral
LoansPledgedAsCollateral
36100000
CY2021Q1 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
300000
CY2020Q4 us-gaap Loans And Leases Receivable Related Parties
LoansAndLeasesReceivableRelatedParties
400000
CY2021Q1 us-gaap Loans And Leases Receivable Related Parties Additions
LoansAndLeasesReceivableRelatedPartiesAdditions
0
CY2020 us-gaap Loans And Leases Receivable Related Parties Additions
LoansAndLeasesReceivableRelatedPartiesAdditions
100000
CY2021Q1 us-gaap Loans And Leases Receivable Related Parties Proceeds
LoansAndLeasesReceivableRelatedPartiesProceeds
0
CY2020 us-gaap Loans And Leases Receivable Related Parties Proceeds
LoansAndLeasesReceivableRelatedPartiesProceeds
500000
CY2021Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
625000
CY2021Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
229000
CY2021Q1 fusb Provision Reduction In Reserve For Loan Losses
ProvisionReductionInReserveForLoanLosses
401000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
72000
CY2021Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
7403000
CY2021Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
5547000
CY2021Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
664789000
CY2019Q4 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
5762000
CY2020Q1 us-gaap Allowance For Doubtful Accounts Receivable Write Offs
AllowanceForDoubtfulAccountsReceivableWriteOffs
654000
CY2020Q1 us-gaap Allowance For Loan And Lease Loss Recovery Of Bad Debts
AllowanceForLoanAndLeaseLossRecoveryOfBadDebts
266000
CY2020Q1 fusb Provision Reduction In Reserve For Loan Losses
ProvisionReductionInReserveForLoanLosses
580000
CY2020Q1 us-gaap Loans And Leases Receivable Allowance
LoansAndLeasesReceivableAllowance
5954000
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Individually Evaluated For Impairment1
FinancingReceivableAllowanceForCreditLossesIndividuallyEvaluatedForImpairment1
80000
CY2020Q1 us-gaap Financing Receivable Allowance For Credit Losses Collectively Evaluated For Impairment
FinancingReceivableAllowanceForCreditLossesCollectivelyEvaluatedForImpairment
5874000
CY2020Q1 us-gaap Financing Receivable Individually Evaluated For Impairment
FinancingReceivableIndividuallyEvaluatedForImpairment
3632000
CY2020Q1 us-gaap Financing Receivable Collectively Evaluated For Impairment
FinancingReceivableCollectivelyEvaluatedForImpairment
547189000
CY2020Q1 us-gaap Loans And Leases Receivable Gross Carrying Amount
LoansAndLeasesReceivableGrossCarryingAmount
550992000
CY2021Q1 fusb Percentage Of Loans And Leases Past Due
PercentageOfLoansAndLeasesPastDue
0.0054
CY2021Q1 fusb Percentage Of Loans And Leases Current
PercentageOfLoansAndLeasesCurrent
0.9946
CY2021Q1 fusb Percentage Of Loans And Leases
PercentageOfLoansAndLeases
1.0000
CY2020Q4 us-gaap Financing Receivable Recorded Investment Past Due
FinancingReceivableRecordedInvestmentPastDue
5348000
CY2020Q4 us-gaap Financing Receivable Recorded Investment Current
FinancingReceivableRecordedInvestmentCurrent
644775000
CY2020Q4 fusb Percentage Of Loans And Leases Past Due
PercentageOfLoansAndLeasesPastDue
0.0082
CY2020Q4 fusb Percentage Of Loans And Leases Current
PercentageOfLoansAndLeasesCurrent
0.9918
CY2020Q4 fusb Percentage Of Loans And Leases
PercentageOfLoansAndLeases
1.0000
CY2021Q1 us-gaap Financing Receivable Recorded Investment Nonaccrual Status
FinancingReceivableRecordedInvestmentNonaccrualStatus
2509000
CY2021Q1 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
100000
CY2020Q4 us-gaap Financing Receivable Modifications Recorded Investment
FinancingReceivableModificationsRecordedInvestment
100000
CY2021Q1 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
5608000
CY2021Q1 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
5608000
CY2021Q1 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
100000
CY2021Q1 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
100000
CY2021Q1 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
72000
CY2021Q1 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
5708000
CY2021Q1 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
5708000
CY2020Q4 us-gaap Impaired Financing Receivable With No Related Allowance Recorded Investment
ImpairedFinancingReceivableWithNoRelatedAllowanceRecordedInvestment
7009000
CY2020Q4 us-gaap Impaired Financing Receivable With No Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithNoRelatedAllowanceUnpaidPrincipalBalance
7009000
CY2020Q4 us-gaap Impaired Financing Receivable With Related Allowance Recorded Investment
ImpairedFinancingReceivableWithRelatedAllowanceRecordedInvestment
102000
CY2020Q4 us-gaap Impaired Financing Receivable With Related Allowance Unpaid Principal Balance
ImpairedFinancingReceivableWithRelatedAllowanceUnpaidPrincipalBalance
102000
CY2020Q4 us-gaap Impaired Financing Receivable Recorded Investment
ImpairedFinancingReceivableRecordedInvestment
7111000
CY2019Q4 us-gaap Impaired Financing Receivable Unpaid Principal Balance
ImpairedFinancingReceivableUnpaidPrincipalBalance
7111000
CY2019Q4 us-gaap Impaired Financing Receivable Related Allowance
ImpairedFinancingReceivableRelatedAllowance
74000
CY2021Q1 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
5681000
CY2021Q1 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
126000
CY2021Q1 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
92000
CY2020 us-gaap Impaired Financing Receivable Average Recorded Investment
ImpairedFinancingReceivableAverageRecordedInvestment
3533000
CY2020 us-gaap Impaired Financing Receivable Interest Income Accrual Method
ImpairedFinancingReceivableInterestIncomeAccrualMethod
46000
CY2020 us-gaap Impaired Financing Receivable Interest Income Cash Basis Method
ImpairedFinancingReceivableInterestIncomeCashBasisMethod
47000
CY2021Q1 us-gaap Loans And Leases Receivable Impaired Nonperforming Nonaccrual Of Interest
LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest
2500000
CY2020Q4 us-gaap Loans And Leases Receivable Impaired Nonperforming Nonaccrual Of Interest
LoansAndLeasesReceivableImpairedNonperformingNonaccrualOfInterest
3100000
CY2021Q1 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
28000
CY2020 us-gaap Loans And Leases Receivable Impaired Interest Lost On Nonaccrual Loans
LoansAndLeasesReceivableImpairedInterestLostOnNonaccrualLoans
161000
CY2021Q1 fusb Interest Income Recorded
InterestIncomeRecorded
5000
CY2020Q4 fusb Interest Income Recorded
InterestIncomeRecorded
42000
CY2021Q1 fusb Financing Receivable Restructuring Recorded Investment With Nonaccrual Status
FinancingReceivableRestructuringRecordedInvestmentWithNonaccrualStatus
0
CY2020Q4 fusb Financing Receivable Restructuring Recorded Investment With Nonaccrual Status
FinancingReceivableRestructuringRecordedInvestmentWithNonaccrualStatus
0
CY2021Q1 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
CY2020Q4 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
CY2021Q1 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
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0
CY2020 us-gaap Financing Receivable Modifications Subsequent Default Number Of Contracts1
FinancingReceivableModificationsSubsequentDefaultNumberOfContracts1
0
CY2021Q1 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
5
CY2021Q1 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
282000
CY2021Q1 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
49000
CY2020 us-gaap Financing Receivable Modifications Number Of Contracts2
FinancingReceivableModificationsNumberOfContracts2
5
CY2020 us-gaap Financing Receivable Modifications Pre Modification Recorded Investment2
FinancingReceivableModificationsPreModificationRecordedInvestment2
282000
CY2020 us-gaap Financing Receivable Modifications Post Modification Recorded Investment2
FinancingReceivableModificationsPostModificationRecordedInvestment2
51000
CY2019Q4 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
1078000
CY2020Q1 us-gaap Transfer To Other Real Estate
TransferToOtherRealEstate
18000
CY2020Q1 us-gaap Proceeds From Sale Of Other Real Estate
ProceedsFromSaleOfOtherRealEstate
37000
CY2020Q1 fusb Other Real Estate Gross Gains
OtherRealEstateGrossGains
5000
CY2020Q1 fusb Other Real Estate Net Income Loss
OtherRealEstateNetIncomeLoss
5000
CY2021Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
7000
CY2020Q1 us-gaap Impairment Of Real Estate
ImpairmentOfRealEstate
10000
CY2020Q1 us-gaap Real Estate Acquired Through Foreclosure
RealEstateAcquiredThroughForeclosure
1054000
CY2021Q1 fusb Foreclosed Real Estate Owned Fair Value Less Disposal Costs
ForeclosedRealEstateOwnedFairValueLessDisposalCosts
21000000
CY2020Q1 fusb Foreclosed Real Estate Owned Fair Value Less Disposal Costs
ForeclosedRealEstateOwnedFairValueLessDisposalCosts
100000
CY2021Q1 us-gaap Mortgage Loans In Process Of Foreclosure Amount
MortgageLoansInProcessOfForeclosureAmount
0
CY2020Q1 us-gaap Mortgage Loans In Process Of Foreclosure Amount
MortgageLoansInProcessOfForeclosureAmount
100000
CY2021Q1 us-gaap Goodwill
Goodwill
7435000
CY2020Q4 us-gaap Goodwill
Goodwill
7400000
CY2021Q1 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
2048000
CY2021Q1 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
1164000
CY2021Q1 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
884000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
250000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
268000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
195000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
122000
CY2021Q1 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
49000
CY2021Q1 us-gaap Federal Funds Purchased
FederalFundsPurchased
0
CY2020Q4 us-gaap Federal Funds Purchased
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0
CY2021Q1 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
17000
CY2020Q4 us-gaap Securities Sold Under Agreements To Repurchase
SecuritiesSoldUnderAgreementsToRepurchase
17000
CY2021Q1 us-gaap Federal Home Loan Bank Advances Maturities Summary Due Within One Year Of Balance Sheet Date
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10000000
CY2020Q4 us-gaap Federal Home Loan Bank Advances Maturities Summary Due Within One Year Of Balance Sheet Date
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10000000
CY2021Q1 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
0
CY2020Q4 us-gaap Federal Home Loan Bank Advances Long Term
FederalHomeLoanBankAdvancesLongTerm
0
CY2021Q1 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
59000000
CY2020Q4 us-gaap Federal Home Loan Bank Advances General Debt Obligations Disclosures Collateral Pledged1
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresCollateralPledged1
36100000
CY2021Q1 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
40000000
CY2020Q4 us-gaap Federal Home Loan Bank Advances Branch Of Fhlb Bank Amount Of Advances By Branch
FederalHomeLoanBankAdvancesBranchOfFHLBBankAmountOfAdvancesByBranch
20000000
CY2021Q1 fusb Federal Home Loan Bank Advances General Debt Obligations Disclosures Excess Of Collateral Available To Utilize Additional Credit
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresExcessOfCollateralAvailableToUtilizeAdditionalCredit
19000000
CY2020Q4 fusb Federal Home Loan Bank Advances General Debt Obligations Disclosures Excess Of Collateral Available To Utilize Additional Credit
FederalHomeLoanBankAdvancesGeneralDebtObligationsDisclosuresExcessOfCollateralAvailableToUtilizeAdditionalCredit
16100000
CY2021Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.220
CY2020Q1 us-gaap Effective Income Tax Rate Continuing Operations
EffectiveIncomeTaxRateContinuingOperations
0.236
CY2021Q1 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
1800000
CY2020Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
2000000
CY2021Q1 us-gaap Deferred Compensation Arrangement With Individual Common Stock Reserved For Future Issuance
DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance
114257
CY2020Q4 us-gaap Deferred Compensation Arrangement With Individual Common Stock Reserved For Future Issuance
DeferredCompensationArrangementWithIndividualCommonStockReservedForFutureIssuance
111419
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
0
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0124
CY2020Q1 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
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P7Y6M
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.289
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0.0125
CY2020Q1 fusb Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Fair Value Of Stock Option
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsFairValueOfStockOption
3.34
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
421000
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
412800
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
10200
CY2020Q1 us-gaap Stock Issued During Period Shares Stock Options Exercised
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666
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures In Period
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334
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
421000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingNumber
422000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
396095
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
352517
CY2020Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.79
CY2019Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.72
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Grants In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageExercisePrice
11.95
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
10.75
CY2020Q1 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Forfeitures In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsForfeituresInPeriodWeightedAverageExercisePrice
10.75
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
607000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
472000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Three
LesseeOperatingLeaseLiabilityPaymentsDueYearThree
438000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due Year Four
LesseeOperatingLeaseLiabilityPaymentsDueYearFour
339000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due After Year Five
LesseeOperatingLeaseLiabilityPaymentsDueAfterYearFive
937000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Due
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3297000
CY2021Q1 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
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324000
CY2021Q1 us-gaap Assets Under Management Carrying Amount
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45907000
CY2021Q1 us-gaap Operating Lease Payments
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176000
CY2020Q1 us-gaap Operating Lease Payments
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188000
CY2021Q1 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
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504000
CY2021Q1 us-gaap Hedged Asset Fair Value Hedge Cumulative Increase Decrease
HedgedAssetFairValueHedgeCumulativeIncreaseDecrease
-574000
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.79
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingWeightedAverageExercisePrice
9.77
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.74
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
9.58
CY2021Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
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300000
CY2020Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Outstanding Intrinsic Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsOutstandingIntrinsicValue
0
CY2021Q1 us-gaap Lessee Operating Lease Renewal Term
LesseeOperatingLeaseRenewalTerm
P5Y
CY2021Q1 fusb Lessee Operating Lease Period Of Option To Terminate
LesseeOperatingLeasePeriodOfOptionToTerminate
P1Y
CY2021Q1 us-gaap Lease Cost
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209000
CY2020Q1 us-gaap Lease Cost
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211000
CY2021Q1 us-gaap Operating Lease Lease Income
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209000
CY2020Q1 us-gaap Operating Lease Lease Income
OperatingLeaseLeaseIncome
212000
CY2021Q1 us-gaap Operating Lease Right Of Use Asset
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2913000
CY2021Q1 us-gaap Operating Lease Liability Statement Of Financial Position Extensible List
OperatingLeaseLiabilityStatementOfFinancialPositionExtensibleList
fusb:OperatingLeasesLiabilitiesMember
CY2021Q1 us-gaap Operating Lease Liability
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2973000
CY2021Q1 us-gaap Operating Lease Weighted Average Remaining Lease Term1
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P5Y8M26D
CY2021Q1 us-gaap Operating Lease Weighted Average Discount Rate Percent
OperatingLeaseWeightedAverageDiscountRatePercent
0.0308
CY2021Q1 fusb Amortized Cost Basis Of Closed Portfolios Used In Hedging Relationships
AmortizedCostBasisOfClosedPortfoliosUsedInHedgingRelationships
45300000
CY2021Q1 fusb Cumulative Basis Adjustments Associated With Hedging Relationships
CumulativeBasisAdjustmentsAssociatedWithHedgingRelationships
600000
CY2021Q1 us-gaap Derivative Amount Of Hedged Item
DerivativeAmountOfHedgedItem
20000000
CY2021Q1 us-gaap Derivative Instruments Income Statement Location Of Gain Or Loss Reclassified From Accumulated Oci
DerivativeInstrumentsIncomeStatementLocationOfGainOrLossReclassifiedFromAccumulatedOCI
$(173)
CY2020Q1 us-gaap Derivative Instruments Income Statement Location Of Gain Or Loss Reclassified From Accumulated Oci
DerivativeInstrumentsIncomeStatementLocationOfGainOrLossReclassifiedFromAccumulatedOCI
$4
CY2021Q1 us-gaap Marketable Securities
MarketableSecurities
75783000
CY2021Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
445000
CY2021Q1 fusb Interest Income From External Customers
InterestIncomeFromExternalCustomers
9845000
CY2020Q1 us-gaap Assets
Assets
788565000
CY2020Q1 us-gaap Marketable Securities
MarketableSecurities
110079000
CY2020Q1 us-gaap Loans And Leases Receivable Net Reported Amount
LoansAndLeasesReceivableNetReportedAmount
539685000
CY2020Q1 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
8715000
CY2020Q1 us-gaap Depreciation And Amortization
DepreciationAndAmortization
399000
CY2020Q1 fusb Interest Income From External Customers
InterestIncomeFromExternalCustomers
10397000
CY2021Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
108000
CY2020Q1 us-gaap Bank Owned Life Insurance Income
BankOwnedLifeInsuranceIncome
108000
CY2021Q1 fusb Auto Club Revenue
AutoClubRevenue
19000
CY2020Q1 fusb Auto Club Revenue
AutoClubRevenue
35000
CY2021Q1 fusb Other Income Atm Fees
OtherIncomeATMFees
136000
CY2020Q1 fusb Other Income Atm Fees
OtherIncomeATMFees
100000
CY2021Q1 fusb Wire Transfer Fees
WireTransferFees
14000
CY2020Q1 fusb Wire Transfer Fees
WireTransferFees
13000
CY2021Q1 fusb Gain On Sales Of Premises And Equipment And Other Assets
GainOnSalesOfPremisesAndEquipmentAndOtherAssets
71000
CY2020Q1 fusb Gain On Sales Of Premises And Equipment And Other Assets
GainOnSalesOfPremisesAndEquipmentAndOtherAssets
115000
CY2021Q1 us-gaap Other Income
OtherIncome
348000
CY2020Q1 us-gaap Other Income
OtherIncome
371000
CY2021Q1 us-gaap Revenue Remaining Performance Obligation
RevenueRemainingPerformanceObligation
0
CY2021Q1 us-gaap Contract With Customer Liability
ContractWithCustomerLiability
0
CY2021Q1 us-gaap Supplies And Postage Expense
SuppliesAndPostageExpense
215000
CY2020Q1 us-gaap Supplies And Postage Expense
SuppliesAndPostageExpense
214000
CY2021Q1 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
232000
CY2020Q1 us-gaap Communications And Information Technology
CommunicationsAndInformationTechnology
223000
CY2021Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
29000
CY2020Q1 us-gaap Marketing And Advertising Expense
MarketingAndAdvertisingExpense
44000
CY2021Q1 fusb Business Development And Travel
BusinessDevelopmentAndTravel
28000
CY2020Q1 fusb Business Development And Travel
BusinessDevelopmentAndTravel
126000
CY2021Q1 fusb Collection And Recoveries
CollectionAndRecoveries
46000
CY2020Q1 fusb Collection And Recoveries
CollectionAndRecoveries
85000
CY2021Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
64000
CY2020Q1 us-gaap Cost Of Goods And Services Sold
CostOfGoodsAndServicesSold
91000
CY2021Q1 us-gaap General Insurance Expense
GeneralInsuranceExpense
163000
CY2020Q1 us-gaap General Insurance Expense
GeneralInsuranceExpense
162000
CY2021Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
153000
CY2020Q1 us-gaap Federal Deposit Insurance Corporation Premium Expense
FederalDepositInsuranceCorporationPremiumExpense
80000
CY2021Q1 fusb Loss On Sales Of Premises And Equipment And Other Assets
LossOnSalesOfPremisesAndEquipmentAndOtherAssets
32000
CY2020Q1 fusb Loss On Sales Of Premises And Equipment And Other Assets
LossOnSalesOfPremisesAndEquipmentAndOtherAssets
166000
CY2021Q1 fusb Foreclosed Real Estate Other Expense Net Of Gain Or Loss On Sale
ForeclosedRealEstateOtherExpenseNetOfGainOrLossOnSale
7000
CY2020Q1 fusb Foreclosed Real Estate Other Expense Net Of Gain Or Loss On Sale
ForeclosedRealEstateOtherExpenseNetOfGainOrLossOnSale
19000
CY2021Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
561000
CY2020Q1 us-gaap Other Cost And Expense Operating
OtherCostAndExpenseOperating
342000
CY2021Q1 us-gaap Operating Expenses
OperatingExpenses
1621000
CY2020Q1 us-gaap Operating Expenses
OperatingExpenses
1662000
CY2021Q1 us-gaap Self Insurance Reserve
SelfInsuranceReserve
200000
CY2020Q4 us-gaap Self Insurance Reserve
SelfInsuranceReserve
200000

Files In Submission

Name View Source Status
0001564590-21-026410-index-headers.html Edgar Link pending
0001564590-21-026410-index.html Edgar Link pending
0001564590-21-026410.txt Edgar Link pending
0001564590-21-026410-xbrl.zip Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xlsx Edgar Link pending
fusb-10q_20210331.htm Edgar Link pending
fusb-20210331.xml Edgar Link completed
fusb-20210331.xsd Edgar Link pending
fusb-20210331_cal.xml Edgar Link unprocessable
fusb-20210331_def.xml Edgar Link unprocessable
fusb-20210331_lab.xml Edgar Link unprocessable
fusb-20210331_pre.xml Edgar Link unprocessable
fusb-ex101_43.htm Edgar Link pending
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