United Security Bancshares, Inc. Announces Name Change
October 10 2016 - 1:00PM
United Security Bancshares, Inc. (NASDAQ:USBI) (the “Company”),
today announced that it will change its corporate name to First US
Bancshares, Inc., effective Tuesday, October 11, 2016. The
name change is part of an overall rebranding effort for the Company
and its banking subsidiary, First US Bank.
“Our recent rebranding of First US Bank has been
met with an overwhelmingly positive response, and we seek to
increase our name recognition as we expand into new markets by more
closely aligning the name of our holding company with the name of
our bank,” commented James F. House, President and Chief Executive
Officer of the Company.
The Company’s common stock will continue to
trade on the Nasdaq Capital Market under the new ticker symbol
“FUSB” beginning on October 11, 2016. Outstanding certificates for
shares of the Company's common stock will continue to be valid and
need not be exchanged.
About United Security Bancshares,
Inc.
United Security Bancshares, Inc. is a bank
holding company that operates banking offices in Alabama through
First US Bank. In addition, the Company’s operations include
Acceptance Loan Company, Inc., 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.
Forward-Looking Statements
This press release may contain 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. The Company undertakes no
obligation to update these statements following the date of this
press release, except as required by law. In addition, the Company,
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 the Company’s senior management
based on 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 the Company with the Securities and Exchange
Commission, and forward-looking statements contained in this press
release or in other public statements of the Company 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 the Company, 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, 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.
Beverly Dozier
(334) 636-5424
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