First US Bancshares (FUSB) Announces Extension of Share Repurchase Program

First US Bancshares, Inc. (Nasdaq: FUSB) (the "Company"), a Delaware corporation based in Birmingham, Alabama, announced today that its Board of Directors has extended the Company's existing share repurchase program. The share repurchase program, which was previously set to expire on December 31, 2023, has been extended to expire on December 31, 2024. The Company has repurchased 1,045,972 shares of its common stock to date under the repurchase program and 596,813 shares remain available for repurchase. The Company most recently repurchased shares pursuant to the program during the third quarter of 2022.

Share repurchases under the repurchase program may be made through open market transactions, through privately negotiated transactions or otherwise at times and in such amounts as management deems appropriate, subject to applicable regulatory requirements. Open market purchases may be executed through a pre-arranged repurchase plan that operates in accordance with the guidelines specified under Rule 10b5-1 and Rule 10b-18 under the Securities Exchange Act of 1934, as amended. 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.

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