First US Bancshares, Inc., formerly United Security Bancshares, Inc., incorporated on June 4, 1999, is the bank holding company for First US Bank (the Bank or FUSB). The Bank operates a finance company, Acceptance Loan Company, Inc. (ALC). The Bank operates through two segments: FUSB and ALC. As of December 31, 2015, the Bank operated and served its customers through 19 banking offices located in Brent, Bucksville, Butler, Calera, Centreville, Coffeeville, Columbiana, Fulton, Gilbertown, Grove Hill, Harpersville, Jackson, Thomasville, Tuscaloosa and Woodstock, Alabama. The Bank provides a range of commercial banking services to small and medium-sized businesses, property managers, business executives, professionals and other individuals. As of December 31, 2015, ALC operated and served its customers through 22 offices in Alabama and southeast Mississippi.
ALC operates and serves its customers through its offices in Alabama and southeast Mississippi. ALC's business is generated through referrals from retail businesses, banks and customer mailings. FUSB Reinsurance underwrites credit life and credit accident and health insurance policies sold to the Bank's and ALC's consumer loan customers. FUSB Reinsurance is responsible for the first level of risk on these policies up to a specified maximum amount, and a primary third-party insurer retains the remaining risk.
Lending Activities
The Company's loan portfolio includes real estate loans, commercial and industrial loans, consumer loans and other loans. The Company's real estate loans include construction, land development and other land loans; secured by One- to four-family residential properties; secured by multi-family residential properties; secured by non-farm, non-residential properties, and other real estate loans. Commercial construction, land and land development loans include the development of residential housing projects, loans for the development of commercial and industrial use property and loans for the purchase and improvement of raw land. One- to four-family loans include conventional mortgage loans on One- to four-family residential properties. Multi-family residential properties include mortgage loans secured by apartment buildings. Non-farm, non-residential property includes real estate loans secured by commercial and industrial properties, office or mixed-use facilities, strip shopping centers or other commercial property. Other real estate loans are loans primarily for agricultural production, secured by mortgages on farm land. Commercial and industrial loans include loans to commercial customers for use in the normal course of business. Consumer loans include a range of secured and unsecured personal loans, including automobile loans, loans for household and personal purposes and all other direct consumer installment loans. Other loans include credit cards, overdrawn checking accounts reclassified to loans and overdraft lines of credit. As of December 31, 2015, the Bank had total loans amounted to $173.7million.
Investment Activities
The Bank?ÇÖs available-for-sale securities consists of residential and commercial mortgage-backed securities, the United States treasury securities, obligations of the United States Government-sponsored agencies, obligations of state and political subdivisions, and corporate notes. The Bank?ÇÖs held-to-maturity securities consists of commercial mortgage-backed securities, obligations of the United States Government-sponsored agencies, and obligations of states and political subdivisions. As of December 31, 2015, the Bank had available-for-sale securities totaled $198.8 million. As of December 31, 2015, the Bank had held-to-maturity securities totaled $32.4 million.
Sources of Funds
The Bank?ÇÖs deposits include non-interest bearing demand deposit accounts, interest-bearing demand deposit accounts, savings deposits and time deposits. The Bank?ÇÖs short-term borrowings consist of federal funds purchased, securities sold under repurchase agreements, and short-term Federal Home Loan Bank (FHLB) advances. The Company uses FHLB advances as an alternative to funding sources with similar maturities, such as certificates of deposit or other deposit programs. As of December 31, 2015, the Bank had total deposits amounted to $479.3 million.
131 W Front St
The company trades on NASDAQ exchange. The company headquarter is located in Alabama, AL. The company was established in the 1952.| Ticker | FUSB |
| Long Name | First US Bancshares, Inc. |
| Short Name | First US Bancshares |