UBFO United Security Bancshares

Cash Dividend Increased by 10.3% at United Security Bancshares 62nd Consecutive Quarterly Cash Dividend Declared FRESNO, Calif., March 24 /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 $0.16 per share, to shareholders of record on April 9, 2004, payable on April 21, 2004. The dividend of $0.16 per share is up $0.015 from the April 2003 quarterly dividend of $0.145, a 10.3% increase. This dividend marks the 62nd consecutive quarterly cash dividend paid to shareholders since inception. Woods added, "The Board of Directors, after reviewing the continued strong earnings of the company despite the temporary expenses associated with the Taft National Bank merger and the new branch opening in downtown Fresno, voted unanimously to substantially increase the dividend. The Taft merger is expected to be completed in late April and the new branch opened last Monday. I've been extremely pleased with the significant numbers of new customers that have come into the new office to open accounts. The results have been far beyond my expectations." 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, 559-248-4928, for United Security Bancshares Web site: http://www.unitedsecuritybank.com/

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