United Security Bancshares, Inc. Declares Cash Dividend
August 24 2016 - 4:01PM
United Security Bancshares, Inc. (the “Company” or “USBI”)
(Nasdaq:USBI) announced that the Board of Directors, at a meeting
held today, declared a quarterly cash dividend of $0.02 per share.
The dividend is payable on October 3, 2016 to shareholders of
record at the close of business on September 9, 2016.
“Our Board of Directors is pleased to pay a
quarterly cash dividend to our shareholders,” stated James F.
House, President and CEO of United Security Bancshares, Inc. “We
will continue to evaluate any future dividend payments so that they
will be consistent with maintaining our strong capital base,”
concluded Mr. House.
About United Security Bancshares,
Inc.
United Security Bancshares, Inc. is a bank
holding company that operates banking offices in Alabama through
First US Bank (the “Bank”). In addition, the Company’s operations
include Acceptance Loan Company, Inc. (“ALC”), a consumer loan
company, 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:
Thomas S. Elley
334-636-5424
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