Gendell Jeffrey L

11/13/2024 | Press release | Distributed by Public on 11/13/2024 09:48

Amendment to Beneficial Ownership Report - Form SC 13G/A

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G/A

Under the Securities Exchange Act of 1934

(Amendment No. 1)*

First US Bancshares, Inc.
(Name of Issuer)
Common Stock, $0.01 par value
(Title of Class of Securities)
33744V103
(CUSIP Number)
September 30, 2024
(Date of Event which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

o Rule 13d-1(b)
þ Rule 13d-1(c)
o Rule 13d-1(d)

*The remainder of this cover page shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

CUSIP No. 33744V103 13G/A Page 2 of 9 Pages
1

NAME OF REPORTING PERSON

Tontine Financial Partners, L.P.

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) o

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH: 		5

SOLE VOTING POWER

-0-

6

SHARED VOTING POWER

361,084

7

SOLE DISPOSITIVE POWER

-0-

8

SHARED DISPOSITIVE POWER

361,084

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

361,084

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

o
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.32%

12

TYPE OF REPORTING PERSON

PN

CUSIP No. 33744V103 13G/A Page 3 of 9 Pages
1

NAME OF REPORTING PERSON

Tontine Management, L.L.C.

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) o

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

Delaware

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH: 		5

SOLE VOTING POWER

-0-

6

SHARED VOTING POWER

361,084

7

SOLE DISPOSITIVE POWER

-0-

8

SHARED DISPOSITIVE POWER

361,084

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

361,084

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

o
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.32%

12

TYPE OF REPORTING PERSON

OO

CUSIP No. 33744V103 13G/A Page 4 of 9 Pages
1

NAME OF REPORTING PERSON

Jeffrey L. Gendell

2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

(a) o

(b) o

3

SEC USE ONLY

4

CITIZENSHIP OR PLACE OF ORGANIZATION

United States

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY
EACH
REPORTING
PERSON WITH: 		5

SOLE VOTING POWER

-0-

6

SHARED VOTING POWER

361,084

7

SOLE DISPOSITIVE POWER

-0-

8

SHARED DISPOSITIVE POWER

361,084

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

361,084

10

CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

o
11

PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)

6.32%

12

TYPE OF REPORTING PERSON

IN

CUSIP No. 33744V103 13G/A Page 5 of 9 Pages
Item 1(a). NAME OF ISSUER

The name of the issuer is First US Bancshares, Inc. (the "Company").

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.

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 361,084 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 directly owned 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.

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.

Item 2(c). CITIZENSHIP

See Item 2(a) above.

Item 2(d). TITLE OF CLASS OF SECURITIES

Common Stock, $0.01 par value (the "Common Stock")

CUSIP No. 33744V103 13G/A Page 6 of 9 Pages
Item 2(e). CUSIP NUMBER

33744V103

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/A Page 7 of 9 Pages
Item 4. OWNERSHIP
A. Tontine Financial Partners, L.P.
(a)

Amount beneficially owned: 361,084

(b)

Percent of class: 6.32%. This percentage and those used elsewhere in this Schedule 13G/A are calculated based upon the 5,715,607 shares of Common Stock issued and outstanding at November 1, 2024, as set forth in the Company's Quarterly Report on Form 10-Q for the quarterly period ended September 30, 2024 filed with the Securities and Exchange Commission on November 8, 2024.

(c) (i) Sole power to vote or direct the vote: -0-
(ii)

Shared power to vote or direct the vote: 361,084

(iii) Sole power to dispose or direct the disposition of: -0-
(iv)

Shared power to dispose or direct the disposition of: 361,084

B. Tontine Management, L.L.C.
(a)

Amount beneficially owned: 361,084

(b)

Percent of class: 6.32%

(c) (i) Sole power to vote or direct the vote: -0-
(ii)

Shared power to vote or direct the vote: 361,084

(iii) Sole power to dispose or direct the disposition of: -0-
(iv)

Shared power to dispose or direct the disposition of: 361,084

C. Jeffrey L. Gendell
(a)

Amount beneficially owned: 361,084

(b)

Percent of class: 6.32%

(c) (i) Sole power to vote or direct the vote: -0-
(ii)

Shared power to vote or direct the vote: 361,084

(iii) Sole power to dispose or direct the disposition of: -0-
(iv)

Shared power to dispose or direct the disposition of: 361,084

CUSIP No. 33744V103 13G/A Page 8 of 9 Pages
Item 5. OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

Not applicable.

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.

Item 8. IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

Not applicable.

Item 9. NOTICE OF DISSOLUTION OF GROUP

Not applicable.

Item 10. CERTIFICATION

Each of the Reporting Persons hereby makes the following certification:

By signing below each Reporting Person certifies that, to the best of his or its knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

CUSIP No. 33744V103 13G/A Page 9 of 9 Pages

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: November 12, 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.