Total non-interest expense increased 12.6% to $8.2 million in the second quarter of 2011, compared with $7.2 million in the second quarter of 2010. Salary and benefit costs rose 6.2% to $3.9 million, other real estate expenses increased 8.3% to $571,000 and other expense was up 28.9% to $2.9 million, all compared with the second quarter of 2010.United Security Bancshares and First United Security Bank continued to be rated as ‘well-capitalized,’ the highest regulatory rating, as of June 30, 2011. Total risk-based capital was 17.1% for the Company and for the Bank, compared with a regulatory requirement of 10.0% for a well-capitalized institution and a minimum regulatory requirement of 8.0%. Tier 1 risk-based capital was 15.8% for the Company and for the Bank, both measures significantly above the requirement of 6.0% for a well-capitalized institution and minimum regulatory requirement of 4.0%.
United Security Bancshares, Inc. Reports Second Quarter Results
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