UBFO United Security Bancshares

Cash Dividend Increased by 11.5% United Security Bancshares 61st Consecutive Quarterly Cash Dividend Declared FRESNO, Calif., Dec. 26 /PRNewswire-FirstCall/ -- Dennis R. Woods, President and Chief Executive Officer of United Security Bancshares , reported that the Board of Directors on December 23, 2003, declared a quarterly cash dividend of $0.145 per share, to shareholders of record on January 9, 2004, payable on January 21, 2004. The dividend of $0.145 per share is up $0.015 from the January 2003 quarterly dividend of $0.13, an 11.5% increase. This dividend marks the 61st consecutive quarterly cash dividend paid to shareholders since inception. Woods added, "As 2003 comes to a close and another year of record earnings is about to be written into history, we are well along in planning for another strong year in 2004. We recently announced our planned acquisition of Taft National Bank early in the second quarter. We expect the acquisition will add to earnings in 2004 as well as add to the company's core deposit base. In March we plan to open a branch near the convention center in downtown Fresno. Later in the year we plan to relocate the administrative offices downtown. It's lining up as an exciting year. Stay tuned for more." United Security Bancshares is a $510 million bank holding company and United Security Bank, a state banking corporation, is its primary subsidiary. United Security Bancshares stock is available through The Seidler Amdec Securities Inc., (contact Troy Norlander at 1-800-288-2811), Hoefer & Arnett (contact Dave Bonaccorso at 1-800-346-5544, ext. 723) or Hill Thompson, Magid & Co. (contact Jason Biggerstaff 1-800-631-3083) as well as other firms, and trades under the symbol "UBFO." This press release may include forward-looking statements that involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those in the forward-looking statements. Those factors include fluctuations in interest rates, inflation, government regulations, the progress of integrating acquisitions and economic conditions and competition in the geographic and business areas in which the Company conducts its operations. The Company undertakes no obligation to revise or update these forward-looking statements. DATASOURCE: United Security Bancshares CONTACT: Dennis Woods of United Security Bancshares, +1-559-248-4928 Web site: http://www.unitedsecuritybank.com/

Copyright