United Security Bancshares Declares Quarterly Cash Dividend

Rhea-AI Summary

On December 20, 2022, United Security Bancshares (NASDAQ: UBFO) announced a quarterly cash dividend of $0.11 per share on its common stock. This dividend is scheduled for payment on January 19, 2023, to shareholders of record by January 4, 2023. Headquartered in Fresno, United Security Bank, founded in 1987, operates 12 branches across California and offers various financial services including commercial real estate construction and lending. This dividend payment reflects the company's continued commitment to providing value to its shareholders.

Positive

• Quarterly cash dividend of $0.11 per share announced.
• Dividend payment reflects ongoing shareholder value.

Negative

• None.

FRESNO, Calif.--(BUSINESS WIRE)-- On December 20, 2022, the Board of Directors of United Security Bancshares (the “Company”) (NASDAQ: UBFO), the parent company of United Security Bank (the “Bank”), declared a regular quarterly cash dividend of $0.11 per share on the Company’s common stock. The dividend is payable on January 19, 2023, to shareholders of record as of January 4, 2023.

About United Security Bancshares

United Security Bancshares (NASDAQ: UBFO) is the holding company for United Security Bank, which was founded in 1987. United Security Bank is headquartered in Fresno and operates 12 full-service branch offices in Fresno, Bakersfield, Campbell, Caruthers, Coalinga, Firebaugh, Mendota, Oakhurst, San Joaquin, and Taft. Additionally, United Security Bank operates Commercial Real Estate Construction, Commercial Lending, and Consumer Lending departments. For more information, please visit www.unitedsecuritybank.com.

FORWARD-LOOKING STATEMENTS

Certain statements made in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are statements that include projections, predictions, expectations, or beliefs about events or results or otherwise are not statements of historical facts, such as statements about the Company’s board or its structure. Although the Company believes that its expectations with respect to such forward-looking statements are based upon reasonable assumptions within the bounds of its existing knowledge of its business and operations, there can be no assurance that actual results, performance or achievements of the Company will not differ materially from those expressed or implied by such forward-looking statements. For a more complete discussion of these risks and uncertainties, see the Company's Annual Report on Form 10-K for the year ended December 31, 2021, and particularly the section entitled “Management’s Discussion and Analysis of Financial Condition and Results of Operations.” Readers should carefully review all disclosures the Company files from time to time with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20221221005606/en/

Dave Kinross, 559-490-6261

Source: United Security Bancshares

FAQ

What is the dividend amount declared by United Security Bancshares?

The declared dividend amount is $0.11 per share.

When is the dividend payable for United Security Bancshares?

The dividend is payable on January 19, 2023.

When is the record date for the dividend?

The record date for the dividend is January 4, 2023.

How often does United Security Bancshares pay dividends?

United Security Bancshares typically pays dividends quarterly.

Is the dividend sustainable for United Security Bancshares?

The sustainability of the dividend would depend on the company's ongoing financial performance and cash reserves.