Welcome to our dedicated page for United Sec Bancshares Calif news (Ticker: UBFO), a resource for investors and traders seeking the latest updates and insights on United Sec Bancshares Calif stock.
United Security Bancshares (NASDAQ: UBFO) is the holding company for United Security Bank, a community-oriented commercial bank founded in 1987 and headquartered in Fresno, California. The news flow around UBFO reflects its role in the commercial banking and finance and insurance sector, with regular updates on financial performance, dividends, and corporate actions.
Company press releases frequently cover quarterly earnings results, where the Board of Directors reports operating results for specific periods. These announcements are often referenced in Form 8-K filings that furnish earnings press releases as exhibits. Investors following UBFO news can monitor how management communicates results for quarters and year-to-date periods.
Another recurring theme in United Security Bancshares news is dividend declarations. The Board of Directors has repeatedly announced regular quarterly cash dividends on the company’s common stock, specifying record and payment dates. These dividend decisions are disclosed through Business Wire releases and corresponding Form 8-K filings under “Other Events.”
UBFO news also includes governance and leadership updates, such as the appointment of Jagroop “Jay” Gill as Vice Chairman of the company’s and bank’s boards of directors. Company statements describe his role in shaping long-term strategy and supporting organic growth across the bank’s markets.
A major focus of recent coverage is the announced merger between United Security Bancshares and Community West Bancshares. Joint press releases and SEC filings describe the Agreement and Plan of Merger, the planned combination of the holding companies, and the subsequent merger of United Security Bank into Community West Bank, subject to regulatory and shareholder approvals. Readers of the UBFO news page can use this feed to track developments in the merger process, board composition changes tied to the transaction, and related investor communications.
For investors and observers interested in UBFO, the news page offers a centralized view of earnings announcements, dividend actions, leadership changes, and merger-related updates disclosed by United Security Bancshares.
On December 12, 2021, United Security Bancshares (NASDAQ: UBFO) declared a quarterly cash dividend of $0.11 per share, payable on January 18, 2022, to shareholders of record as of January 3, 2022. This dividend reflects the Company’s commitment to returning value to its shareholders while maintaining a sound financial position. United Security Bancshares operates United Security Bank, providing various banking services across California with 12 full-service branches in the region.
United Security Bancshares (Nasdaq: UBFO) reported unaudited financial results for Q3 and YTD September 30, 2021. Net income rose 15% to $2.6 million for Q3 2021, driven by increased loan income. YTD net income was $6.7 million, down from $7.0 million in 2020. Total assets increased by 18.3% to $1.29 billion, with loans and deposits growing significantly. Despite a $1.7 million provision for credit losses, nonperforming assets decreased. The company declared a quarterly cash dividend of $0.11 per share, payable October 25, 2021.
United Security Bancshares (NASDAQ: UBFO) announced the appointment of Heather Hammack and Dora Westerlund to its Board of Directors, effective September 28, 2021. Dennis Woods, CEO, expressed confidence in their fresh perspectives and expertise. Hammack, President of Famous Software, has a strong background in agribusiness and finance. Westerlund, President and CEO of Fresno Area Hispanic Foundation, has extensive community ties and business experience. The company operates 12 branches in California, focusing on various banking services.
On September 28, 2021, United Security Bancshares (NASDAQ: UBFO) declared a quarterly cash dividend of $0.11 per share, payable on October 25, 2021, to shareholders of record by October 12, 2021. Founded in 1987, the company operates 12 full-service branches in California. This dividend reflects the Board's commitment to returning value to shareholders while navigating the financial landscape.
United Security Bancshares (Nasdaq: UBFO) reported unaudited financial results for the six months ended June 30, 2021, posting a net income of $4.1 million, down from $4.8 million in 2020. For Q2 2021, net income rose 34.44% to $2.7 million, driven by increased loan interest income and reduced OREO expenses. Total assets increased 12.67% to $1.23 billion, while total loans surged 28.69% to $842 million. The net interest margin contracted to 3.22%. The allowance for credit losses decreased to 1.09%, indicating improved credit quality. The company declared a cash dividend of $0.11 per share, payable on July 16, 2021.
On June 22, 2021, United Security Bancshares (NASDAQ: UBFO) declared a quarterly cash dividend of $0.11 per share on its common stock. This dividend, which will benefit shareholders, is payable on July 16, 2021, to those on record as of July 6, 2021. The bank, based in Fresno, operates 12 branches and offers various lending services, showcasing its community presence.
United Security Bancshares (Nasdaq: UBFO) reported unaudited financial results for Q1 2021, revealing a net income of $1.41 million, down 48.77% from $2.75 million in Q1 2020. The decline is primarily due to a $1.03 million loss on junior subordinated debentures linked to LIBOR fluctuations. Despite this, total assets grew 8.63% to $1.19 billion, and total deposits rose 9.99% to $1.05 billion. The company aims to deploy $200 million of excess cash into its loan and investment portfolios by Q2 2021. Core net income, excluding non-core items, increased 21% year-over-year.
On March 23, 2021, United Security Bancshares (NASDAQ: UBFO) announced a quarterly cash dividend of $0.11 per share. The dividend will be paid on April 16, 2021, to shareholders on record as of April 6, 2021. This reflects the Company's commitment to returning value to shareholders amidst its operations through United Security Bank, which serves various locations in California. The bank also engages in commercial real estate and consumer lending, bolstering its financial ecosystem.
United Security Bancshares (Nasdaq: UBFO) reported its financial results for 2020, with net income of $8.96 million, down from $15.17 million in 2019. The fourth quarter saw earnings of $1.92 million, a 33.61% decline year-over-year. Total assets rose to $1.1 billion, driven by increases in loans and deposits, notably $9.5 million in Paycheck Protection Program loans. However, net interest income dropped 21.58% to $28.85 million due to lower interest rates. The allowance for credit losses increased significantly, reflecting economic uncertainties from COVID-19. Book value per share increased to $6.93.
On December 15, 2020, United Security Bancshares (NASDAQ: UBFO) declared a regular quarterly cash dividend of $0.11 per share on its common stock. This dividend is payable on January 19, 2021, to shareholders of record as of January 4, 2021. The Company is the parent of United Security Bank, which has operated since 1987, with 12 full-service branches in California. The declaration reflects the Company's ongoing commitment to returning value to its shareholders.