FRESNO, Calif., Dec. 22, 2016 /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 4th quarter 2016 stock dividend of one percent (1%) on December 20, 2016. The stock dividend will be paid to shareholders of record on January 3, 2017 and the dividend shares will be issued on January 13, 2017.
This marks the 33rd consecutive quarterly stock dividend since initiated in 2008. Capital preservation remains a significant focus of the Bank's Directors in consideration of the Basel III capital standards adopted. Stock dividends preserve capital, where as cash dividends reduce capital.
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SOURCE United Security Bancshares