First US Bancshares, Inc. Announces Relocation of Headquarters to Birmingham
September 29 2017 - 4:00PM
First US Bancshares, Inc. (Nasdaq:FUSB) (the “Company”) announced
today that it is relocating its principal executive offices and the
headquarters of the Company’s wholly-owned banking subsidiary,
First US Bank (the “Bank”), to Birmingham, Alabama. The offices
will be located at the Bank’s newly-opened office complex at 3291
U.S. Highway 280, Birmingham, Alabama 35243, at the intersection of
U.S. Highway 280 and Pump House Road. The relocation has been
approved by the boards of directors of the Company and the Bank,
and all regulatory approvals have been received.
The Bank, with more than $600 million in total
assets, has been serving communities in southwest and central
Alabama since 1952 from its executive offices in Thomasville,
Alabama. The Thomasville location will continue to provide
retail banking services and will house the Bank’s primary
operations center, as well as certain executives of the Company and
the Bank. The Birmingham location will house the Company’s
principal executive offices, the Bank’s Birmingham-based commercial
lending team and certain other support personnel, as well as a
retail banking office.
“We are excited to announce the move of our
headquarters to Birmingham,” stated James F. House, President and
Chief Executive Officer of the Company and the Bank. “One of
the strategic initiatives approved by our board some years ago was
to build the Bank’s presence in a larger metropolitan area.
Birmingham has a vibrant economy with a rich history as a financial
center, and we believe that it will serve as an excellent platform
for the Bank’s future growth. Although we are moving our
headquarters, we look forward to continuing to serve our customers
in southwest Alabama. Our Company benefits from a strong
employee base in the Thomasville area. Accordingly, we will
continue to maintain our operations center in that area,” continued
Mr. House.
The Bank opened the new Birmingham office
complex, known as Pump House Plaza, in August 2017. The
state-of-the-art banking center located at the office complex
features interactive teller machines, drive-through banking, a
technology bar and a coffee bar, as well as full-service personal
bankers. Banking center hours are Monday through Thursday,
8:30 a.m. to 4:30 p.m., and Friday, 8:30 a.m. to 5:00 p.m.
About First US Bancshares,
Inc.
First US Bancshares, Inc. is a bank holding
company that operates banking offices in Alabama through First US
Bank. In addition, the Company’s operations include
Acceptance Loan Company, Inc., 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
This press release contains forward-looking
statements, as defined by federal securities laws. Statements
contained in this press release that are not historical facts are
forward-looking statements. These statements may address issues
that involve significant risks, uncertainties, estimates and
assumptions made by management. The Company undertakes no
obligation to update these statements following the date of this
press release, except as required by law. In addition, the Company,
through its senior management, may make from time to time
forward-looking public statements concerning the matters described
herein. Such forward-looking statements are necessarily estimates
reflecting the best judgment of the Company’s senior management
based upon current information and involve a number of risks and
uncertainties. Certain factors that could affect the accuracy of
such forward-looking statements are identified in the public
filings made by the Company with the Securities and Exchange
Commission, and forward-looking statements contained in this press
release or in other public statements of the Company or its senior
management should be considered in light of those factors.
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 Bank’s and ALC’s
service areas, the availability of quality loans in the Bank’s and
ALC’s service areas, the relative strength and weakness in the
consumer and commercial credit sectors and in the real estate
markets and collateral values. There can be no assurance that such
factors or other factors will not affect the accuracy of such
forward-looking statements.
Contact: Thomas S.
Elley205-582-1200
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