BIRMINGHAM, Ala. - First US Bancshares, Inc. (NASDAQ:FUSB), a banking firm operating in the Southeastern United States, has appointed Robert C. Field to its Board of Directors and that of its subsidiary, First US Bank. Field, who brings over 35 years of experience in various sectors, including real estate and banking, will also join the Audit Committee and the Asset/Liability Committee.
Field's extensive career includes a Magna Cum Laude degree in Commerce and Business Administration from the University of Alabama. He is currently a partner at the Welden-Field group, focusing on multifamily investment, mortgage banking, and alternative assets. Field's business endeavors have reached beyond the U.S., with investments in Eastern Europe, Central Asia, and parts of Africa.
In addition to his business acumen, Field holds several positions in public service and philanthropy. He serves as Chairman of The General Retirement System for Employees of Jefferson County and is on the advisory board of Boyd Watterson. His previous roles have involved significant contributions to the development of Low Income Housing Tax Credits and the sale of banking and mortgage operations.
Field's appointment is effective immediately, and his experience is expected to contribute to the governance and strategic oversight of First US Bancshares and First US Bank. The company, which trades on the Nasdaq Capital Market, has a presence in Alabama, Tennessee, and Virginia.
This announcement is based on a press release statement from First US Bancshares, Inc.
InvestingPro Insights
First US Bancshares, Inc. (NASDAQ:FUSB) has recently enhanced its board with the appointment of Robert C. Field, a move that could leverage his vast experience in the financial and real estate sectors. For investors considering FUSB, InvestingPro provides valuable insights into the company's financial health and performance metrics.
According to InvestingPro, First US Bancshares is currently trading at a low P/E ratio of 7.23, which is further adjusted to 7.03 based on the last twelve months as of Q1 2024. This suggests that the company's stock may be undervalued relative to its near-term earnings growth, especially when considering its PEG ratio of 0.57 for the same period. Such metrics often attract investors looking for potential growth at a reasonable price.
In terms of shareholder returns, First US Bancshares has a strong track record, maintaining dividend payments for 11 consecutive years, with a dividend yield of 1.94% as of June 2024. Additionally, the company has demonstrated a robust return over the last month, with a price total return of 13.08%.
While the company does suffer from weak gross profit margins, its operating income margin stands at an impressive 28.04% for the last twelve months as of Q1 2024. This reflects efficient management and the potential for sustainable profitability, which is further supported by the company's positive performance over the last twelve months.
Investors interested in a deeper dive into First US Bancshares can find additional InvestingPro Tips that can help in making informed decisions. There are currently 7 additional tips available on InvestingPro, which can be accessed by visiting https://www.investing.com/pro/FUSB. For those looking to subscribe, use coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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