FRESNO, Calif., June 28, 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 2nd quarter 2012 stock dividend of one percent (1%) on June 26, 2012. The stock dividend will be paid to shareholders of record on July 13, 2012 and the dividend shares will be issued on July 25, 2012.
This marks the 15th 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