FUSBMEDIUM SIGNALREGULATORY10-K

FUSB's filing reflects the impact of the new Trump administration's deregulatory approach, with specific language changes noting the CFPB's cessation of supervision activities as of February 2025.

The regulatory environment shift represents a potential tailwind for the bank's operations, as reduced CFPB oversight and the administration's stated intention to decrease financial services regulation could lower compliance costs and operational constraints. However, the timeline and extent of these regulatory changes remain uncertain, requiring continued monitoring of the evolving policy landscape.

Comparing 2026-03-12 vs 2025-03-14View on EDGAR →
FINANCIAL ANALYSIS

FUSB demonstrated strong cash generation with operating cash flow growing substantially to $12.3M, while cash and equivalents expanded meaningfully to $73.5M, indicating improved liquidity positioning. However, net income declined to $6.0M from $8.2M in the prior year, suggesting operational headwinds despite the stronger cash flows. The company maintained its dividend payments with a modest increase to $1.6M while investing more heavily in capital expenditures at $3.2M.

FINANCIAL STATEMENT CHANGES
Operating Cash Flow
Cash Flow
+58.8%
$7.8M→$12.3M

Operating cash flow surged 58.8% — exceptional cash generation, highest quality earnings signal.

Cash & Equivalents
Balance Sheet
+55.8%
$47.2M→$73.5M

Cash position surged 55.8% — strong cash generation or capital raise providing significant financial cushion.

Capital Expenditure
Cash Flow
+54.3%
$2.1M→$3.2M

Capital expenditure jumped 54.3% — major investment cycle underway; assess returns on deployment.

Dividends Paid
Cash Flow
+27.2%
$1.3M→$1.6M

Dividend payments increased 27.2% — management confidence in sustained cash generation.

Net Income
P&L
-26.7%
$8.2M→$6.0M

Net income declined 26.7% — review whether driven by operations, interest costs, or non-recurring items.

LANGUAGE CHANGES
NEW — 2026-03-12
PRIOR — 2025-03-14
ADDED
As of March 6, 2026, the registrant had outstanding 5,650,157 shares of common stock.
As of December 31, 2025, the Bank had 152 full-time equivalent employees.
5 Competition We face strong competition in making loans and acquiring deposits.
The CFPB s approach has changed under the Trump administration, but it remains unclear exactly what changes will occur or how quickly they will occur.
The new administration has taken action that indicate its intention to generally reduce federal regulation of the financial services industry.
For example, on February 8, 2025, the acting director of the CFPB issued a notice to its staff to cease all supervision and examination activity.
It is currently unknown what, if any, of the CFPB s policies or directives will continue.
Congress or the federal bank regulatory agencies may modify or rescind rule making and regulatory guidance issued under the prior administration.
However, the timing and impact of any changes to the regulatory, enforcement, and supervisory priorities of the federal bank regulatory agencies is not known at this time.
As of December 31, 2025, these rules have not been implemented.
REMOVED
As of March 3, 2025, the registrant had outstanding 5,762,262 shares of common stock.
Previously, the Bank operated two additional wholly-owned subsidiaries, Acceptance Loan Company and FUSB Reinsurance, Inc., both of which were legally dissolved in 2023, and all remaining assets and liabilities of these entities were transferred to the Bank prior to December 31, 2023.
As of December 31, 2024, the Bank had 151 full-time equivalent employees.
5 Competition We face strong competition in making loans, acquiring deposits and attracting customers for investment services.
The CFPB s approach may change under the Trump administration, but it remains unclear exactly what changes will occur or how quickly.
In addition, certain rules that the Biden administration CFPB finalized may be subject to reversal by either the U.S.
As of December 31, 2024, these rules have not been implemented.
In July 2023, the federal banking regulators proposed revisions to the Basel III Capital Rules to implement the Basel Committee s 2017 standards and make other changes to the Basel III Capital Rules.
On October 24, 2023, the FDIC, the Federal Reserve Board, and the Office of the Comptroller of the Currency (the OCC ) issued a final rule to strengthen and modernize the CRA regulations.
Under the final rule, banks with assets of at least $600 million as of December 31 in both of the prior two calendar years and less than $2 billion as of December 31 in either of the prior two calendar 10 years will be an intermediate bank, and banks with assets of at least $2 billion as of December 31 in both of the prior two calendar years will be a large bank.
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