United Security Bancshares Declares Stock Dividend
September 25 2009 - 2:07PM
PR Newswire (US)
FRESNO, Calif., Sept. 25 /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 4th
quarter 2009 stock dividend of one percent (1%) on September 23,
2009. The stock dividend replaces the quarterly cash dividend. The
stock dividend will be paid to shareholders of record on October 9,
2009 and the dividend shares will be issued on October 21, 2009.
The stock dividend was employed last year 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
Bancshares, +1-559-248-4928 Web Site:
http://www.unitedsecuritybank.com/
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