United Security Bancshares Declares Stock Dividend
January 04 2011 - 2:46PM
PR Newswire (US)
FRESNO, Calif., Jan. 4, 2011 /PRNewswire/ -- 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 1st
quarter 2011 stock dividend of one percent (1%) on December 21, 2010. The stock dividend will be
paid to shareholders of record on January 7,
2011 and the dividend shares will be issued on January 19, 2011.
This marks the 10th 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
Copyright 2011 PR Newswire
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