United Security Bancshares Declares Stock Dividend
October 04 2010 - 7:21PM
PR Newswire (US)
FRESNO, Calif., Oct. 4 /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 2010 stock dividend of one percent (1%) on September 28, 2010. The stock dividend will be
paid to shareholders of record on October 8,
2010 and the dividend shares will be issued on October 20, 2010.
This marks the 9th consecutive quarterly 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
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