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United Security Bancshares  (UBFO)
Other Ticker:  
 
    Sector  Financial    Industry Commercial Banks
   Industry Commercial Banks
   Sector  Financial
 
Price: $7.4600 $0.00 0.000%
Day's High: $7.49 Week Perf: 4.63 %
Day's Low: $ 7.30 30 Day Perf: -1.32 %
Volume (M): 10 52 Wk High: $ 8.74
Volume (M$): $ 73 52 Wk Avg: $7.27
Open: $7.30 52 Wk Low: $5.50



 Market Capitalization (Millions $) 127
 Shares Outstanding (Millions) 17
 Employees 129
 Revenues (TTM) (Millions $) 53
 Net Income (TTM) (Millions $) 20
 Cash Flow (TTM) (Millions $) 2
 Capital Exp. (TTM) (Millions $) 1

United Security Bancshares

United Security Bancshares is a California corporation incorporated during March of 2001 and is registered with the Board of Governors of the Federal Reserve System as a bank holding company under the Bank Holding Company Act of 1956, as amended. The Company’s stock is listed on NASDAQ under the symbol “UBFO”. United Security Bank is a wholly-owned bank subsidiary of the Company and was formed in 1987. United Security Bancshares Capital Trust I (the “Trust”) was formed during June of 2001 as a Delaware business trust for the sole purpose of issuing Trust Preferred securities. The Trust was originally formed as a subsidiary of the Company, but was deconsolidated during 2004 pursuant to the adoption of ASC 810 (as revised), “Consolidation of Variable Interest Entities." During July 2007, the Trust Preferred Securities issued under USB Capital Trust I were redeemed, and upon retirement, the USB Capital Trust I was dissolved. During July 2007, the Company formed United Security Bancshares Capital Trust II and issued $15.0 million in Trust Preferred Securities with terms similar to those originally issued under USB Capital Trust I, except at a lower interest rate.

The Bank is a California state-chartered bank headquartered in Fresno, California. It is also a member of the Federal Reserve System (“Fed member”). The Bank originally commenced business on December 21, 1987, as a national bank and, during the fourth quarter of 1998, filed an application with the California Department of Financial Institutions and other regulatory authorities to become a state-chartered bank. The shareholders approved the conversion in January of 1999, and the Bank was granted approval to operate as a state-chartered bank on February 3, 1999. The Bank’s operations are currently subject to federal and state laws applicable to state-chartered, Fed member banks, and its deposits are insured up to the applicable limits by the Federal Deposit Insurance Corporation (FDIC). The Bank is also subject to the Federal Deposit Insurance Act and regulatory reporting requirements of the FDIC. As a state-chartered bank and a member of the Federal Reserve System, the Bank is subject to supervision and regular examinations by the Board of Governors of the Federal Reserve System (FRB) and the California Department of Business Oversight (DBO). In addition, the Bank is required to file reports with the FRB and provide such additional information as the FRB may require.

Effective April 23, 2004, the Company completed a merger with Taft National Bank headquartered in Taft, California. Taft National Bank (Taft) was merged into United Security Bank and Taft’s two branches, one located in Taft and the other located in Bakersfield, California, operate as branches of United Security Bank. This transaction was accounted for using the purchase method of accounting, and resulted in the purchase price being allocated to the assets acquired and liabilities assumed from Taft based on the fair value of those assets and liabilities, with resultant goodwill of $1.6 million and core deposits intangibles of $1.9 million. Goodwill is not amortized but is reviewed at least annually for impairment, while core deposit intangibles were amortized over a period of 7 years. At the time of the merger, the Company sought opportunities to expand its market area to the south with the expectation that the Bakersfield area would have significant growth given its strategic location just north of Los Angeles. The Company has recorded no impairment on either the goodwill or core deposit intangible related to the Taft merger.

The Bank offers a wide range of deposit instruments including personal and business checking accounts and savings accounts, interest-bearing negotiable order of withdrawal (NOW) accounts, money market accounts and time certificates of deposit.

Real estate mortgage loans are secured by deeds of trust primarily on commercial property. Repayment of real estate mortgage loans is generally from the cash flow of the borrower. Commercial and industrial loans have a high degree of industry diversification. Loans may be originated in the Company’s market area, or participated with other financial institutions outside the Company’s market area. A substantial portion of the Company’s commercial and industrial loans are secured by accounts receivable, inventory, leases or other collateral. The remainder are unsecured. However, extensions of credit are predicated on the financial capacity of the borrower to repay. Repayment of commercial loans is generally from the cash flow of the borrower. Real estate construction loans consist of loans to residential contractors, which are secured by single-family residential properties. All real estate loans have established equity requirements. Repayment of real estate construction loans is generally from long-term mortgages with other lending institutions. Agricultural loans are generally secured by land, equipment, inventory and receivables. Repayment of agricultural loans is generally from the expected cash flow of the borrower.

In addition to the loan and deposit services discussed above, the Bank also offers a wide range of specialized services designed to attract and service the needs of commercial customers and account holders. These services include online banking, mobile banking, safe deposit boxes, ATM services, payroll direct deposit, cashiers checks, travelers checks, money orders, and foreign drafts. In addition, the Bank offers a variety of specialized financial services, including wealth management, employee benefit, insurance and loan products, as well as consulting services for a variety of clients. The Bank does not operate a trust department; however, it makes arrangements with its correspondent bank to offer trust services to its customers upon request. Most of the Banks business originates within Fresno, Madera, Kern, and Santa Clara Counties. Neither the Bank’s business nor liquidity are seasonal, and there has been no material effect upon the Banks capital expenditures, earnings or competitive position as a result of federal, state or local environmental regulation.



   Company Address: 2126 Inyo Street Fresno 93721 CA
   Company Phone Number: 490-6261   Stock Exchange / Ticker: UBFO
   


Customers Net Income fell by UBFO's Customers Net Profit Margin fell to

-4.36 %

11.29 %

• Customers Performance • Customers Expend. • Customers Efficiency • List of Customers


   

Stock Performances by Major Competitors

5 Days Decrease / Increase
     
BAC        8.91% 
C        7.74% 
COF        8.14% 
JPM        6.7% 
PNC        7.04% 
WFC        6.58% 
• View Complete Report
   



United Security Bancshares

United Security Bancshares Sees Mixed Results in Q4 2023 Earnings Report

United Security Bancshares, a commercial bank company, recently announced its financial results for the fourth quarter of 2023 earnings season. The company reported a decrease in income by 18.12% to $0.31 per share compared to $0.38 a year ago. However, EPS saw a significant increase of 42.49% from $0.22 per share from the previous reporting period. Revenue decreased by 8.575% to $14.09 million from $15.41 million in the similar reporting period a year ago, but sequentially revenue improved by 17.034% from $12.04 million.
Earnings for the fourth quarter of 2023 totaled $5.401 million, a decrease of 18.12% from the corresponding period a year before. Looking at United Security Bancshares's profitability, their operating margin decreased to 51.14% and net margin shrank to 38.35%. Operating earnings fell by 22.51% to $7.203 million.

Dividend

United Security Bancshares Shows Strong Commitment to Shareholders with Quarterly Dividend Declaration

Published Tue, Dec 19 2023 9:00 PM UTC



In a recent press release, United Security Bancshares (NASDAQ: UBFO) announced its declaration of a regular quarterly cash dividend of $0.12 per share on the Company's common stock. This move signifies the company's commitment to its shareholders and reflects its positive performance in the market. United Security Bancshares, as the holding company for United Secur...

United Security Bancshares

United Security Bancshares Maintains Steady Performance with a Modest -3.835% Revenue Dip in Q3 of 2023 Earnings Season

United Security Bancshares, a leading player in the commercial banking industry, recently announced its financial results for the third quarter of 2023. Unfortunately, the numbers were not as strong as expected, with a decrease in both income and revenue compared to the previous year.
In the third quarter of 2023, United Security Bancshares reported a 15.38% decline in income to $0.22 per share. Revenue also decreased by 3.835% to $12.04 million. These numbers reflect a challenging financial period for the company.

Dividend

United Security Bancshares Demonstrates Commitment to Shareholders with Quarterly Dividend Declaration

Published Wed, Sep 27 2023 9:00 PM UTC


Sophisticated
FRESNO, Calif. - On September 26, 2023, United Security Bancshares (NASDAQ: UBFO) announced the declaration of a regular quarterly cash dividend of $0.12 per share on the Company's common stock. The parent company of United Security Bank, United Security Bancshares has continuously demonstrated its commitment to shareholders through consistent dividen...

United Security Bancshares

United Security Bancshares Demonstrates Remarkable Financial Growth in Q2 2023

United Security Bancshares, a commercial bank, reported impressive financial results for the three months ending June 30, 2023. The company's net profit per share increased by a remarkable 30% to $0.26 per share compared to the prior year period. Additionally, the company recorded a revenue growth of 19.404% to $12.42 million during the same period, outperforming its peers in the commercial banks industry, which saw an average business growth of 13.22%.
However, it is worth noting that United Security Bancshares experienced a decline in earnings and revenue compared to the previous reporting period. Earnings per share decreased by -27.78% from $0.36, and revenue fell by -16.539% from $14.89 million. Despite this decline, the net profits of $4.417 million in the most recent fiscal period increased by 28.59% from $3.435 million reported in the same period a year ago.






 

United Security Bancshares's Segments
 
 
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  Company Estimates  
  Revenue Outlook
United Security Bancshares does not provide revenue guidance.

Earnings Outlook
United Security Bancshares does not provide earnings estimates.

 
Geographic Revenue Dispersion




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