On Dec. 18, 2019, First US Bancshares (NASDAQ:FUSB) the parent company of First US Bank, declared that the Company’s Board of Directors has extended the Company’s existing share repurchase program. The repurchase program, which was originally approved by the Company’s Board of Directors on January 19, 2006, has been extended to expire on the date on which the Company has repurchased all of the 93,565 shares that may still be repurchased under the repurchase program, or on December 31, 2020, whichever is earlier. To date, the Company has repurchased approximately 549,220 shares of common stock under the repurchase program. Share repurchases under the repurchase program may be made through open market and privately negotiated transactions at times and in such amounts as management deems appropriate, subject to applicable regulatory requirements. The repurchase program does not obligate the Company to acquire any particular number of shares and may be suspended at any time at the Company’s discretion.
About First US Bancshares
First US Bancshares is a bank holding company that operates banking offices in Alabama, Tennessee and Virginia through First US Bank (the Bank). In addition, the Company’s operations include Acceptance Loan Company, a consumer loan company (ALC), and FUSB Reinsurance, 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 files periodic reports with the U.S. Securities and Exchange Commission (the SEC).
On Wednesday First US Bancshares (NASDAQ:FUSB) stock dipped -5.49% and closed at 10.16. The stock opened the session at $10.44 and touched its highest price point at $10.6. Its recent trading capacity is 0 shares versus to its average trading volume of 8133 shares. The company’s stock’s lowest price point for the session stood at $10.16.FUSB traded as low as $ 7.6 in the past 52 weeks, and shares hit its peak level to $10.83.