United Security Bancshares Declares Stock Dividend
March 26 2010 - 4:12PM
PR Newswire (US)
FRESNO, Calif., March 26 /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 2nd
quarter 2010 stock dividend of one percent (1%) on March 23, 2010. The stock dividend will be paid
to shareholders of record on April 9,
2010 and the dividend shares will be issued on April 21, 2010.
This marks the 7th consecutive stock dividend since initiated in
2008. The stock dividend is employed to preserve and build capital
because of marketplace uncertainty 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 but
are improving in some sectors as the economic conditions improve.
SOURCE United Security Bancshares
Copyright h 26 PR Newswire
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