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United Security Bancshares (UBFO) operates as the bank holding company for United Security Bank, a state-chartered bank providing a comprehensive range of commercial banking services. Catering to the business and professional community as well as individuals primarily in California, United Security Bancshares serves markets in Fresno, Madera, Santa Clara, and Kern Counties.
The bank offers a variety of deposit products including personal and business checking accounts, savings accounts, money market accounts, and time certificates of deposit. Additionally, it provides an array of loan options such as real estate mortgage, commercial and industrial, real estate construction, consumer loans, agricultural loans, installment loans, and student loans.
United Security Bank also excels in providing online and mobile banking services, as well as cash management solutions and other personal banking products like safe deposit boxes, payroll direct deposit, cashier's checks, traveler's checks, money orders, and foreign drafts. Modern conveniences such as interactive teller machines (ITMs) and ATMs are also part of its service portfolio.
Noteworthy recent developments include the expansion of its digital banking capabilities and continued investment in community growth through localized banking services. Financially, United Security Bancshares derives its primary revenue from interest income generated through loans and investment securities. The institution maintains 12 full-service branch offices strategically located to best serve its customer base.
United Security Bancshares (Nasdaq: UBFO) reported strong financial performance for the six months ended June 30, 2022, with net income reaching $5.9 million, or $0.34 per diluted share, up from $4.1 million, or $0.24 per share a year earlier. The second quarter net income increased 27% to $3.4 million, driven by loan interest income growth of $983,000 and investment securities income of $350,000. Total assets rose slightly to $1.34 billion, with total loans hitting $950 million. However, the book value per share declined to $6.46 due to unrealized losses in the investment portfolio.
On June 28, 2022, United Security Bancshares (NASDAQ: UBFO) announced a regular quarterly cash dividend of $0.11 per share on its common stock. The dividend is payable on July 22, 2022, to shareholders of record as of July 8, 2022.
United Security Bancshares, headquartered in Fresno, operates 12 branch offices and provides various banking services, including commercial and consumer lending. The company emphasizes a commitment to shareholder returns through regular dividends.
United Security Bancshares (Nasdaq: UBFO) reported net income of $2.4 million for Q1 2022, up 73.1% from $1.4 million in Q1 2021. Earnings per share rose to $0.14 compared to $0.08 a year prior. Key metrics showed total assets at $1.35 billion, and total loans at $879.4 million, reflecting growth. The net interest income increased 17.3% to $9.4 million. However, the net interest margin slightly decreased to 3.10%. Shareholders' equity fell to $113.6 million, largely due to unrealized losses in the investment portfolio.
On March 22, 2022, United Security Bancshares (NASDAQ: UBFO) announced a quarterly cash dividend of $0.11 per share, payable on April 18, 2022, to shareholders of record by April 6, 2022. This reflects the company’s ongoing commitment to returning value to its shareholders. Founded in 1987 and headquartered in Fresno, United Security Bank operates 12 branches across Central California, providing a range of financial services including commercial real estate and consumer lending. For more details, visit www.unitedsecuritybank.com.
United Security Bancshares (Nasdaq: UBFO) reported its financial results for the year and quarter ending December 31, 2021. The company achieved a net income of $10.1 million, or $0.59 per share, reflecting a year-over-year increase from $9.0 million, or $0.53 per share. In Q4 2021, net income surged 75.3% to $3.4 million. Total assets rose 21.8% to $1.3 billion, while total loans increased 33.2% to $871.5 million. The allowance for credit losses decreased to 1.07%. The company declared a cash dividend of $0.11 per share, payable January 18, 2022.
On December 12, 2021, United Security Bancshares (NASDAQ: UBFO) declared a quarterly cash dividend of $0.11 per share, payable on January 18, 2022, to shareholders of record as of January 3, 2022. This dividend reflects the Company’s commitment to returning value to its shareholders while maintaining a sound financial position. United Security Bancshares operates United Security Bank, providing various banking services across California with 12 full-service branches in the region.
United Security Bancshares (Nasdaq: UBFO) reported unaudited financial results for Q3 and YTD September 30, 2021. Net income rose 15% to $2.6 million for Q3 2021, driven by increased loan income. YTD net income was $6.7 million, down from $7.0 million in 2020. Total assets increased by 18.3% to $1.29 billion, with loans and deposits growing significantly. Despite a $1.7 million provision for credit losses, nonperforming assets decreased. The company declared a quarterly cash dividend of $0.11 per share, payable October 25, 2021.
United Security Bancshares (NASDAQ: UBFO) announced the appointment of Heather Hammack and Dora Westerlund to its Board of Directors, effective September 28, 2021. Dennis Woods, CEO, expressed confidence in their fresh perspectives and expertise. Hammack, President of Famous Software, has a strong background in agribusiness and finance. Westerlund, President and CEO of Fresno Area Hispanic Foundation, has extensive community ties and business experience. The company operates 12 branches in California, focusing on various banking services.
On September 28, 2021, United Security Bancshares (NASDAQ: UBFO) declared a quarterly cash dividend of $0.11 per share, payable on October 25, 2021, to shareholders of record by October 12, 2021. Founded in 1987, the company operates 12 full-service branches in California. This dividend reflects the Board's commitment to returning value to shareholders while navigating the financial landscape.
United Security Bancshares (Nasdaq: UBFO) reported unaudited financial results for the six months ended June 30, 2021, posting a net income of $4.1 million, down from $4.8 million in 2020. For Q2 2021, net income rose 34.44% to $2.7 million, driven by increased loan interest income and reduced OREO expenses. Total assets increased 12.67% to $1.23 billion, while total loans surged 28.69% to $842 million. The net interest margin contracted to 3.22%. The allowance for credit losses decreased to 1.09%, indicating improved credit quality. The company declared a cash dividend of $0.11 per share, payable on July 16, 2021.
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