FRESNO, Calif., March 30, 2012 /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 2012 stock dividend of one percent (1%) on March 27, 2012. The stock dividend will be paid to shareholders of record on April 13, 2012 and the dividend shares will be issued on April 25, 2012.
This marks the 14th 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.
SOURCE United Security Bancshares