Last $8.00 USD
Change Today -0.03 / -0.37%
Volume 9.6K
USBI On Other Exchanges
Symbol
Exchange
NASDAQ CM
As of 8:10 PM 07/11/14 All times are local (Market data is delayed by at least 15 minutes).

united security bancshares (USBI) Snapshot

Open
$7.96
Previous Close
$8.03
Day High
$8.05
Day Low
$7.92
52 Week High
07/15/13 - $9.62
52 Week Low
12/31/13 - $7.25
Market Cap
48.2M
Average Volume 10 Days
6.5K
EPS TTM
$0.64
Shares Outstanding
6.0M
EX-Date
06/17/11
P/E TM
12.5x
Dividend
--
Dividend Yield
--
Current Stock Chart for UNITED SECURITY BANCSHARES (USBI)

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united security bancshares (USBI) Details

United Security Bancshares, Inc. operates as the bank holding company for the First United Security Bank that provides commercial banking products and services to small and medium-sized businesses, property managers, business executives, professionals, and other individuals in Alabama. It operates through two segments: FUSB, and ALC and All Other. The company offers various deposit products, including demand deposits, savings accounts, individual retirement accounts, and time deposits. It also provides various real estate loans comprising construction loans for commercial and residential development, commercial buildings, and rental and owner occupied properties; other loans secured by real estate, such as one-to-four family dwellings, including mobile homes, loans on land only, multi-family dwellings, non-farm, non-residential real estate, and home equity loans; consumer loans consisting of loans to individuals for household, family, and other personal expenditures, including credit cards and other related credit plans; and commercial, financial, agricultural loans, and loans to tax exempt entities, such as municipalities and counties; and overdraft lines of credit. In addition, it reinsures credit life, and credit accident and health insurance policies for its consumer loan customers; and provides safe deposit box, remote deposit capture, online bill payment programs, and telephone banking services. As of December 31, 2012, the company operated 19 banking offices in Brent, Bucksville, Butler, Calera, Centreville, Coffeeville, Columbiana, Fulton, Gilbertown, Grove Hill, Harpersville, Jackson, Thomasville, Tuscaloosa, and Woodstock, Alabama. United Security Bancshares, Inc. was founded in 1999 and is based in Thomasville, Alabama.

288 Employees
Last Reported Date: 05/14/14
Founded in 1999

united security bancshares (USBI) Top Compensated Officers

Chief Executive Officer, President, Director,...
Total Annual Compensation: $313.8K
Chief Executive Officer of Acceptance Loan Co...
Total Annual Compensation: $190.0K
Compensation as of Fiscal Year 2013.

united security bancshares (USBI) Key Developments

United Security Bancshares Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended March 31, 2014; Reports Net Charge-Offs for the First Quarter Ended March 31, 2014

United Security Bancshares Inc. announced unaudited consolidated earnings results for the first quarter ended March 31, 2014. For the quarter, the company reported total interest income of $7,846,000 against $8,594,000 a year ago. Net interest income was $7.2 million compared with $7.8 million in the first quarter of 2013. The decline in net interest income was due to lower earning assets, primarily loans, combined with a 0.5% decline in net interest margin, compared with the first quarter of 2013. Income before income taxes was $1,050,000 against $1,230,000 a year ago. Net income was $774,000 or $0.13 per basic and diluted share against $886,000 or $0.15 per basic and diluted share a year ago. For the quarter, net charge-offs were $1.2 million compared with $3.0 million in the first quarter of 2013. The decrease in net charge-offs reflected the overall improvement in the loan portfolio, including a lower level of write-downs compared with the first quarter of last year.

United Security Bancshares Inc., Annual General Meeting, May 02, 2014

United Security Bancshares Inc., Annual General Meeting, May 02, 2014., at 10:00 Central Daylight. Location: Alabama Southern Community College. Agenda: To elect eleven directors of the company to serve for the ensuing year; to ratify the appointment of Carr, Riggs & Ingram, LLC as independent registered public accountants for the year ending December 31, 2014; to approve, on an advisory basis, the company's executive compensation; and to transact such other business as may properly come before the Annual Meeting or any adjournments or postponements of such meeting.

United Security Bancshares Inc. Announces Unaudited Consolidated Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2013; Provides Earnings Guidance for the Year 2014; Reports Write-Downs on Other Real Estate for the Fourth Quarter 2013

United Security Bancshares Inc. announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2013. For the quarter, the company reported that net income rose 8.2% to $955,000, or $0.16 per diluted share, compared with net income of $883,000, or $0.15 per diluted share, for the fourth quarter of 2012. Interest income totaled $8.3 million compared with $9.7 million in the fourth quarter of 2012. The decline in interest income was due primarily to lower earning assets, primarily loans, as well as reduction in yield, compared with the fourth quarter of 2012. Net interest income was $7.7 million compared with $8.8 million in the fourth quarter of 2012. The decline in net interest income was due to lower earning assets, primarily loans, combined with an 80 basis point decline in net interest margin, compared with the fourth quarter of 2012. Income before income taxes was $1,258,000 compared to $1,471,000 for the same period a year ago. For the full year, the company reported a 78.9% increase in net income to $3.9 million, or $0.65 per diluted share compared with $2.2 million, or $0.36 per diluted share, for the year ended December 31, 2012. Total interest income was $33,636,000 compared to $38,753,000 for the same period a year ago. Net interest income was $30.7 million, compared with $34.2 million for the same period of 2012. Income before income taxes was $5,436,000 compared to $2,940,000 for the same period a year ago. For the fourth quarter 2013, the company reported write-downs on Other Real Estate were $1,022,000 compared to $593,000 for the same period a year ago. The increase in OREO write-downs was due primarily to routine reappraisals of OREO in the fourth quarter of 2013 that showed lower appraised values than when the assets were previously appraised in accordance with the company's appraisal policies. The company also reported that as a result of the mixed economic conditions and the competitive environment, new loan production remained below the level of loan payoffs and reduction in problem assets for the year 2014. It expected this trend to continue to restrain earnings growth in 2014. The primary focus in 2014 will be to add quality loans while continuing to reduce non-performing loans.

 

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Industry Analysis

USBI

Industry Average

Valuation USBI Industry Range
Price/Earnings 12.6x
Price/Sales 1.4x
Price/Book 0.7x
Price/Cash Flow 12.6x
TEV/Sales NM Not Meaningful
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