United Security Bancshares Declares Stock Dividend
December 21 2009 - 8:20PM
PR Newswire (US)
FRESNO, Calif., Dec. 21 /PRNewswire-FirstCall/ -- Dennis R. Woods,
President and Chief Executive Officer of United Security Bancshares
http://www.unitedsecuritybank.com/ (NASDAQ:UBFO), reported that the
Board of Directors of United Security Bancshares declared a 1st
quarter 2010 stock dividend of one percent (1%) on December 15,
2009. The stock dividend will be paid to shareholders of record on
January 8, 2010 and the dividend shares will be issued on January
20, 2009. The stock dividend was employed in 2008 as a precaution
against the uncertainties in the 1-4 family residential real estate
market and its impact on the Company's construction and related
land and lot loan portfolio. Those conditions continue to some
degree but appear to be improving in some respects. However, the
Board of Directors believes it is prudent to continue to capital at
this time. DATASOURCE: United Security Bancshares CONTACT: Dennis
R. Woods, President and Chief Executive Officer of United Security
Bank, +1-559-248-4928 Web site: http://www.unitedsecuritybank.com/
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