First US Bancshares, Inc. Elects New Director
July 26 2017 - 4:05PM
First US Bancshares, Inc. (the “Company”) (Nasdaq:FUSB) announced
today that the Company’s Board of Directors has elected David P.
Hale as a director of the Company and its subsidiary, First US Bank
(the “Bank”). Dr. Hale will serve on the Audit Committee of the
Company and the Retail, Operations, Technology, and Compliance
Committee of the Bank.
Dr. Hale is a Professor of Management
Information Services (MIS) in the Culverhouse College of Commerce
and Business Administration and the Manderson Graduate School of
Management at The University of Alabama in Tuscaloosa, Alabama. He
has taught at The University of Alabama since 1995, having
previously served as a professor at the University of Florida and
Texas Tech University.
Dr. Hale holds a Bachelor of Science degree in
Accounting, MIS and Labor Economics and a doctorate degree in MIS,
both from the University of Wisconsin System. He is the faculty
advisor for the MIS student professional chapter at The University
of Alabama, which has been recognized locally and abroad by the
Association for Information Systems. In addition, he has served on
numerous boards and agencies for the State of Alabama. He has
worked with, and his work has been sponsored by, the United States
Departments of Commerce, Defense, Transportation, and Labor, the
National Oceanic and Atmospheric Administration, the Army Corps of
Engineers, and the National Science Foundation, as well as Fortune
500 firms and a number of Alabama companies. Dr. Hale’s research
has resulted in numerous information systems publications and
reports.
“We are fortunate to have Dr. Hale join our
Company. He will be an important contributor, particularly in the
area of information technology,” stated James F. House, President
and Chief Executive Officer of the Company. “I welcome Dr. Hale as
a director and look forward to his association and insight as we
continue to focus on the improvement and growth of the Bank’s
assets as part of our strategy to increase earnings.”
About First US Bancshares,
Inc.
First US Bancshares, Inc. is a bank holding
company that operates banking offices in Alabama through First US
Bank (the “Bank”). In addition, the Company’s operations include
Acceptance Loan Company, Inc. (“ALC”), a consumer loan company, and
FUSB Reinsurance, Inc., an underwriter of credit life and credit
accident and health insurance policies sold to the Bank’s and ALC’s
consumer loan customers. The Company’s stock is traded on the
Nasdaq Capital Market under the symbol “FUSB.”
Forward-Looking Statements
Statements contained in this press release that
are not historical facts are forward-looking statements (as defined
in the Private Securities Litigation Reform Act of 1995). In
addition, First US Bancshares, Inc. (“Bancshares”) and, together
with its subsidiaries, (the “Company”), through its senior
management, from time to time makes forward-looking statements
concerning its expected future operations and performance and other
developments. The words “estimate,” “project,” “intend,”
“anticipate,” “expect,” “believe,” “continues” and similar
expressions are indicative of forward-looking statements. Such
forward-looking statements are necessarily estimates reflecting the
Company’s best judgment based on current information and involve a
number of risks and uncertainties, and various factors could cause
results to differ materially from those contemplated by such
forward-looking statements. Such factors could include those
identified from time to time in the Company's Securities and
Exchange Commission (“SEC”) filings and other public announcements,
including the risk factors described in Part I, Item 1A of the
Company's Annual Report on Form 10-K as of and for the year ended
December 31, 2016. Specifically, with respect to statements
relating to loan demand, growth and earnings potential, geographic
expansion and the adequacy of the allowance for loan losses for the
Company, these factors include, but are not limited to, the rate of
growth (or lack thereof) in the economy generally and in the
Company’s service areas, the availability of quality loans in the
Company’s service areas, the relative strength and weakness in the
consumer and commercial credit sectors and in the real estate
markets and collateral values. Forward-looking statements speak
only as of the date they are made, and the Company undertakes no
obligation to revise forward-looking statements to reflect
circumstances or events that occur after the dates on which the
forward-looking statements are made, except as required by law.
Contact:
Thomas S. Elley
334-636-5424
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