Gendell's Tontine Funds Disclose 291,981 Share Stake in First US Bancshares

TL;DR

**Gendell's Tontine just revealed a 291,981 share stake in FUSB, signaling a big institutional bet.**

AI Summary

Jeffrey L. Gendell, through Tontine Financial Partners, L.P. and Tontine Management, L.L.C., reported beneficial ownership of 291,981 shares of First US Bancshares, Inc. (FUSB) common stock as of December 31, 2023. This represents a significant stake in the company, indicating a notable investment by Gendell's entities. This matters to investors because it signals a prominent institutional investor's confidence in FUSB, potentially influencing market perception and future stock performance.

Why It Matters

This filing reveals a substantial investment by a well-known financial entity, which can be seen as a vote of confidence in First US Bancshares and may attract other investors.

Risk Assessment

Risk Level: low — This filing indicates a significant investment by an institutional holder, generally viewed as a positive signal rather than a risk.

Analyst Insight

A smart investor would research Jeffrey L. Gendell's investment history and Tontine's strategy to understand the potential implications of this significant stake in First US Bancshares, Inc., and consider if it aligns with their own investment thesis.

Key Numbers

• 291,981 — Shares Beneficially Owned (Represents the total number of First US Bancshares, Inc. common stock shares held by the reporting persons as of December 31, 2023.)

Key Players & Entities

• Jeffrey L. Gendell (person) — reporting person and manager of Tontine entities
• Tontine Financial Partners, L.P. (company) — group member and reporting person
• Tontine Management, L.L.C. (company) — group member
• First US Bancshares, Inc. (company) — subject company (issuer)
• 291,981 (dollar_amount) — number of shares beneficially owned

Forward-Looking Statements

• The disclosure of a significant stake by Tontine Financial Partners may lead to increased investor interest in First US Bancshares, Inc. (First US Bancshares, Inc.) — medium confidence, target: Q1 2024

FAQ

Key Financial Figures

• $0.01 — Inc. (Name of Issuer) Common Stock, $0.01 par value (Title of Class of Securiti

Filing Documents

• g21240sc13g.htm (SC 13G) — 72KB
• 0001214659-24-001614.txt ( ) — 73KB

(a). NAME OF ISSUER

Item 1(a). NAME OF ISSUER The name of the issuer is First US Bancshares, Inc. (the “Company”).

(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES

Item 1(b). ADDRESS OF ISSUER'S PRINCIPAL EXECUTIVE OFFICES The Company’s principal executive offices are located at 3291 U.S. Highway 280, Birmingham, Alabama 35243.

(a). NAME OF PERSON FILING

Item 2(a). NAME OF PERSON FILING This statement is filed by: (i) Tontine Financial Partners, L.P., a Delaware limited partnership (“TFP”) with respect to the shares of Common Stock directly owned by it; (ii) Tontine Management, L.L.C., a limited liability company organized under the laws of the State of Delaware (“TM”), which serves as general partner of TFP, with respect to the shares of Common Stock directly owned by TFP; and (iii) Jeffrey L. Gendell, a United States citizen (“Mr. Gendell”), who serves as the Managing Member of TM, with respect to the shares of Common Stock owned directly by TFP. The foregoing persons are hereinafter sometimes collectively referred to as the “Reporting Persons.” Any disclosures herein with respect to persons other than the Reporting Persons are made on information and belief after making inquiry to the appropriate party.

(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE

Item 2(b). ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE The address of the business office of each of the Reporting Persons is 1 Sound Shore Drive, Suite 304, Greenwich, CT 06830-7251.

(c). CITIZENSHIP

Item 2(c). CITIZENSHIP See Item 2(a) above.

(d). TITLE OF CLASS OF SECURITIES

Item 2(d). TITLE OF CLASS OF SECURITIES Common Stock, $0.01 par value (the “Common Stock”) CUSIP No. 33744V103 13G Page 6 of 10 Pages

(e). CUSIP NUMBER

Item 2(e). CUSIP NUMBER 33744V103

IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A

Item 3. IF THIS STATEMENT IS FILED PURSUANT TO Rules 13d-1(b), OR 13d-2(b) OR (c), CHECK WHETHER THE PERSON FILING IS A: (a) o Broker or dealer registered under Section 15 of the Act; (b) o Bank as defined in Section 3(a)(6) of the Act; (c) o Insurance company as defined in Section 3(a)(19) of the Act; (d) o Investment company registered under Section 8 of the Investment Company Act of 1940; (e) o An investment adviser in accordance with Rule 13d-1(b)(1)(ii)(E); (f) o An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); (g) o A parent holding company or control person in accordance with Rule 13d-1(b)(1)(ii)(G); (h) o A savings association as defined in Section 3(b) of the Federal Deposit Insurance Act; (i) o A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act; (j) o A non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J); (k) o Group, in accordance with Rule 13d-1(b)(1)(ii)(K). If filing as a non-U.S. institution in accordance with Rule 13d-1(b)(1)(ii)(J), please specify the type of institution: Not applicable . CUSIP No. 33744V103 13G Page 7 of 10 Pages

OWNERSHIP

Item 4. OWNERSHIP A. Tontine Financial Partners, L.P. (a) Amount beneficially owned: 291,981 (b) Percent of class: 5.09%. This percentage and those used elsewhere in this Schedule 13G are calculated based upon the 5,735,075 shares of Common Stock issued and outstanding as of December 31, 2023, as set forth in Exhibit 99.1 to the Company’s Current Report on Form 8-K furnished to the Securities and Exchange Commission on January 25, 2024. (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 291,981 (iii) Sole power to dispose or direct the disposition of: -0- (iv) Shared power to dispose or direct the disposition of: 291,981 B. Tontine Management, L.L.C. (a) Amount beneficially owned: 291,981 (b) Percent of class: 5.09% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 291,981 (iii) Sole power to dispose or direct the disposition of: -0- (iv) Shared power to dispose or direct the disposition of: 291,981 C. Jeffrey L. Gendell (a) Amount beneficially owned: 291,981 (b) Percent of class: 5.09% (c) (i) Sole power to vote or direct the vote: -0- (ii) Shared power to vote or direct the vote: 291,981 (iii) Sole power to dispose or direct the disposition of: -0- (iv) Shared power to dispose or direct the disposition of: 291,981 CUSIP No. 33744V103 13G Page 8 of 10 Pages

OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS Not applicable.

OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

Item 6. OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON TM, the general partner of TFP, has the power to direct the affairs of TFP, including directing the receipt of dividends from or the proceeds from the sale of the shares of Common Stock directly owned by TFP. Mr. Gendell is the Managing Member of TM and in that capacity directs its operations. Item 7. IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON Not applicable.

IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP Not applicable.

NOTICE OF DISSOLUTION OF GROUP

Item 9. NOTICE OF DISSOLUTION OF GROUP Not applicable.

CERTIFICATION

Item 10. CERTIFICATION Not applicable. CUSIP No. 33744V103 13G Page 9 of 10 Pages

SIGNATURES

SIGNATURES After reasonable inquiry and to the best of his or its knowledge and belief, each of the undersigned certifies that the information set forth in this statement is true, complete and correct. DATE: February 1, 2024 /s/ Jeffrey L. Gendell Jeffrey L. Gendell, individually, and as managing member of Tontine Management, L.L.C., for itself and as the general partner of Tontine Financial Partners, L.P. CUSIP No. 33744V103 13G Page 10 of 10 Pages EXHIBIT 1 JOINT FILING AGREEMENT In accordance with Rule 13d-1(k)(1)(iii), the undersigned acknowledge and agree that the foregoing statement on Schedule 13G is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13G shall be filed on behalf of each of the undersigned without the necessity of filing additional joint filing agreements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning him or it contained herein and therein, but shall not be responsible for the completeness and accuracy of the information concerning the others, except to the extent that he or it knows or has reason to believe that such information is inaccurate. DATE: February 1, 2024 /s/ Jeffrey L. Gendell Jeffrey L. Gendell, individually, and as managing member of Tontine Management, L.L.C., for itself and as the general partner of Tontine Financial Partners, L.P.

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