United Security Bancshares Declares Stock Dividend
June 25 2009 - 10:41AM
PR Newswire (US)
FRESNO, Calif., June 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 3rd
quarter 2009 stock dividend of one percent (1%) on June 23, 2009.
The stock dividend replaces the quarterly cash dividend. The stock
dividend will be paid to shareholders of record on July 10, 2009
and the dividend shares will be issued on July 22, 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 Bank,
+1-559-248-4928 Web Site: http://www.unitedsecuritybank.com/
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