Revenue during the quarter dropped 16.06 percent to $6.48 million from $7.72 million in the previous year period. Net interest income for the quarter rose 2.43 percent over the prior year period to $7.13 million. Non-interest income for the quarter fell 0.94 percent over the last year period to $1.16 million.

First US Bancshares, Inc. has made provision of $1.81 million for loan losses during the quarter, up 337.11 percent from $0.42 million in the same period last year.

"We are pleased with the solid growth in commercial and real estate lending, as well as the sustained improvement in loss experience and asset quality that the Bank experienced in 2016," stated James F. House, President and Chief Executive Officer of the Company. "Although the quality of the Bank’s loan portfolio has improved in every major category, management believes it is prudent to increase reserves for loan losses during a period in which we have experienced double-digit percentage growth in loan volume. The Bank’s management team remains focused on improving top-line revenue through loan growth at the Bank and sustained performance at ALC. Continued loan growth, along with prudent expense management, should lead to improved profitability."

Deposits stood at $497.56 million as on Dec. 31, 2016, up 3.82 percent compared with $479.26 million on Dec. 31, 2015.

Loans to deposits ratio was 64.90 percent for the quarter, up from 53.30 percent for the previous year quarter.

Investments stood at $207.81 million as on Dec. 31, 2016, down 10.12 percent or $23.39 million from year-ago. Shareholders equity was at $76.24 million as on Dec. 31, 2016.

Return on equity was negative at 0.53 percent in the quarter against a positive 2.28 percent in the last year period.

Meanwhile, nonperforming assets to total assets was 1.20 percent in the quarter, down from 1.59 percent in the last year period.