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You could use your existing hub to share the connection. But the hub being a hub, is not a really good piece of hardware inherently, prone to collision.
A switch, is a better version of a hub, as it dedicates collision zones as required. They now have 10/100 switches built right into Broadband Routers. Like the one Meese recommended (which also has a basic NAT firewall). I personally use Netgear, they are more money, but with a better firewall (enterprise quality stateful inspection and filtering etc) IMO well worth it.
But in short, yeah you could use the one you have now, make sure you use a crossover cable if required between the modem and your hub.
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