UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington,
D.C. 20549
FORM
8-K
CURRENT
REPORT
Pursuant to
Section 13 or 15(d) of the Securities Exchange Act of 1934
Date
of Report (Date of earliest event reported): January 20, 2016
United
Security Bancshares, Inc.
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(Exact Name of Registrant as Specified in Charter)
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Delaware
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0-14549
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63-0843362
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(State or Other Jurisdiction
of Incorporation)
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(Commission File Number)
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(IRS Employer
Identification No.)
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131 West Front Street
Post Office Box 249
Thomasville,
Alabama 36784
(Address of Principal Executive Offices, including
Zip Code)
(Registrant’s telephone number, including area code): (334)
636-5424
N/A
(Former Name or Former Address, if
Changed Since Last Report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any
of the following provisions:
⃞
Written
communications pursuant to Rule 425 under the Securities Act (17 CFR
230.425)
⃞
Soliciting
material pursuant to Rule 14a-12 under the Exchange Act (17 CFR
240.14a-12)
⃞
Pre-commencement
communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR
240.14d-2(b))
⃞
Pre-commencement
communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR
240.13e-4(c))
Item 8.01 Other Events.
On January 20, 2016, First US Bank (“FUSB”), the wholly owned banking
subsidiary of United Security Bancshares, Inc., issued a press release
announcing that J. Samuel Henderson, III has joined FUSB as Executive
Vice President, Birmingham Market Executive. A copy of the press
release is attached hereto as Exhibit 99.1.
Item 9.01. Financial Statements and Exhibits.
(d)
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Exhibits
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Exhibit Number
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Exhibit
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99.1
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Press Release dated January 20, 2016
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SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
Dated:
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January 20, 2016
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UNITED SECURITY BANCSHARES, INC.
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By:
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/s/ Beverly J. Dozier
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Name:
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Beverly J. Dozier
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Vice President, Secretary and Assistant Treasurer
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Exhibit 99.1
First US
Bank Names J. Samuel Henderson, III as Executive Vice President,
Birmingham Market Executive
THOMASVILLE, Ala.--(BUSINESS WIRE)--January 20, 2016--First US Bank
(“FUSB” or the “Bank”), the wholly owned banking subsidiary of United
Security Bancshares, Inc. (“USBI” or the “Company”) (Nasdaq: USBI),
announced today that J. Samuel Henderson, III has joined the Bank as
Executive Vice President, Birmingham Market Executive.
Henderson has extensive experience in the financial and banking
industries. He most recently held the position of Senior Vice President,
Birmingham Area Executive, and State Commercial and Industrial Banking
Executive with USAmeriBank in Birmingham. Prior to joining USAmeriBank,
Henderson worked for Sterne Agee Group, Inc. in Birmingham as its Senior
Vice President, Correspondent Banking and Industrial Bank De novo Team,
and also served as President and CEO of The Trust Company of Sterne
Agee, Inc. Henderson has worked in various other capacities over the
years and has significant experience with commercial and industrial
lending, retail banking, commercial real estate lending, mortgage
lending, treasury management, risk management, and strategic planning,
as well as experience creating and managing lending teams.
Commenting on Henderson’s appointment, James F. House, President and
Chief Executive Officer of USBI and FUSB, said, “I am pleased to have
Sam join our staff and team in the position of Executive Vice President,
Birmingham Market Executive. He has a strong background in commercial
and industrial lending, loan growth, and sales, and he has extensive
business relationships from his many years in the financial and banking
industries, which will be beneficial to the Bank in the greater
Birmingham area. We look forward to his leadership as we continue to
focus on growth and improvement of asset quality in an effort to
increase earnings and move the Bank forward.”
“We at First US Bank believe that we have the correct strategy to grow
and become a relevant financial institution in the greater Birmingham
area,” stated Henderson. “I look forward to working with the Bank as we
continue to strengthen our presence and grow in Alabama.”
Henderson received a Bachelor’s Degree in Business Administration from
the University of South Carolina and also graduated from the LSU
Graduate School of Banking. Henderson and his wife reside in Birmingham
and have three children.
About United Security Bancshares, Inc.
United Security Bancshares, Inc. is a bank holding company that operates
twenty banking offices in Alabama through First US Bank, which was
established in 1952. In addition, the Company’s operations include
Acceptance Loan Company, Inc., a consumer loan company (“ALC”), and FUSB
Reinsurance, Inc., an underwriter of credit life and credit accident and
health insurance policies sold to the Bank’s and ALC’s consumer loan
customers. The Company’s stock is traded on the Nasdaq Capital Market
under the symbol “USBI.”
Forward-Looking Statements
This press release contains forward-looking statements, as defined by
federal securities laws. Statements contained in this press
release that are not historical facts are forward-looking statements.
These statements may address issues that involve significant risks,
uncertainties, estimates and assumptions made by management. USBI
undertakes no obligation to update these statements following the date
of this press release, except as required by law. In addition,
USBI, through its senior management, may make from time to time
forward-looking public statements concerning the matters described
herein. Such forward-looking statements are necessarily estimates
reflecting the best judgment of USBI’s senior management based upon
current information and involve a number of risks and uncertainties. Certain
factors that could affect the accuracy of such forward-looking
statements are identified in the public filings made by USBI with the
Securities and Exchange Commission, and forward-looking statements
contained in this press release or in other public statements of USBI or
its senior management should be considered in light of those factors.
Specifically, with respect to statements relating to loan demand,
growth and earnings potential, geographic expansion, and the adequacy of
the allowance for loan losses for USBI, these factors include, but are
not limited to, the rate of growth (or lack thereof) in the economy
generally and in the Bank’s and ALC’s service areas, the availability of
quality loans in the Bank’s and ALC’s service areas, and, the relative
strength and weakness in the consumer and commercial credit sectors and
in the real estate markets and collateral values. There can be no
assurance that such factors or other factors will not affect the
accuracy of such forward-looking statements.
CONTACT:
United Security Bancshares, Inc.
Tom Elley, 334-636-5424
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