Financial Performance - Net income for the quarter ended March 31, 2025, decreased 35.54% to $2.7 million, compared to $4.2 million for the same quarter in 2024[4] - Net income for the three months ended March 31, 2025, was $2,682 thousand, down 35.7% from $4,161 thousand for the same period in 2024[27] - Net income for Q1 2025 decreased to $2,682,000, down 35.5% from $4,161,000 in Q1 2024[36] - Noninterest income rose to $1,360 thousand in Q1 2025, up 29.1% from $1,053 thousand in Q1 2024[27] - Total non-interest income for Q1 2025 was $1,360,000, significantly higher than $120,000 in Q4 2024, showing a strong recovery in non-interest revenue[32] Interest and Loans - Net interest margin increased to 4.58% for the quarter ended March 31, 2025, compared to 4.35% for the same quarter in 2024[4] - The average interest rate on loans increased to 6.17% in Q1 2025, compared to 6.00% in Q1 2024[28] - Net interest income after provision for credit losses was $9,996 thousand for Q1 2025, compared to $11,541 thousand in Q1 2024, reflecting a decrease of 13.4%[27] - Total interest income for Q1 2025 was $15,283,000, an increase from $14,879,000 in Q1 2024, representing a growth of 2.7%[32] Credit Losses and Asset Quality - Provision for credit losses was $2.3 million for the quarter ended March 31, 2025, compared to $173,000 for the same quarter in 2024[17] - The provision for credit losses increased significantly to $2,300 thousand in Q1 2025, compared to only $173 thousand in Q1 2024[27] - The allowance for credit losses was $15,356 thousand as of March 31, 2025, down from $16,046 thousand at December 31, 2024[26] - The allowance for credit losses to nonperforming loans increased to 241.79% in Q1 2025 from 127.16% in Q4 2024, reflecting a stronger reserve position[33] - The company reported a net charge-off rate of 1.22% for Q1 2025, compared to 0.13% in Q1 2024, indicating increased credit risk[34] Expenses and Efficiency - Noninterest expense increased 12.85% to $7.6 million for the quarter ended March 31, 2025, compared to $6.7 million for the same quarter in 2024[9] - The efficiency ratio for the quarter ended March 31, 2025, increased to 55.90%, compared to 52.96% for the same quarter in 2024[10] - Total noninterest expense increased to $7,604 thousand in Q1 2025, compared to $6,738 thousand in Q1 2024, marking an increase of 12.8%[27] - The efficiency ratio for Q1 2025 was 55.90%, compared to 52.96% in Q1 2024, indicating increased operational costs relative to income[34] Deposits and Loans - Total deposits decreased 2.97% to $1.03 billion during the quarter ended March 31, 2025, compared to $1.06 billion at December 31, 2024[14] - Total deposits decreased to $1,026,213 thousand as of March 31, 2025, from $1,057,622 thousand at December 31, 2024, a reduction of about 3.0%[26] - Total loans, net of unearned fees, decreased 0.84% to $920.7 million, compared to $928.5 million at December 31, 2024[4] - The loan-to-deposit ratio as of March 31, 2025, was 89.71%, up from 87.79% in Q4 2024, suggesting a tighter liquidity position[34] Assets - Total assets decreased to $1,191,791 thousand as of March 31, 2025, from $1,211,718 thousand at December 31, 2024, representing a decline of approximately 1.6%[26] - Total assets as of March 31, 2025, were $1,191,791,000, a decrease from $1,206,404,000 as of March 31, 2024[31] - Non-performing assets decreased $3.0 million to $14.2 million between December 31, 2024, and March 31, 2025[19] - Nonperforming assets decreased to $14,203,000 in Q1 2025 from $17,201,000 in Q4 2024, indicating improved asset quality[33] Shareholders' Equity - Shareholders' equity at March 31, 2025, totaled $132.9 million, an increase of $2.5 million from $130.4 million at December 31, 2024[15]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2024. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 000-32987 UNITED SECURITY BANCSHARES (Exact name of registrant as specified in its charter) CALIFORNIA 91-2112732 (State or other jurisdiction of i ...

United Security Bancshares Reports 2024 Net Income of $14.8 Million Provided at the end of this press release is a reconciliation of Core Net Income, as a non-GAAP measure, to Net Income. This reconciliation excludes Non-Core items such as the Fair Value Adjustment for TRUPs. Management believes that financial results are more comparative excluding the impact of such non-core items. Results of Operations Quarter Ended December 31, 2024: For the quarter ended December 31, 2024, the Company reported net incom ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 000-32897 UNITED SECURITY BANCSHARES (Exact name of registrant as specified in its charter) CALIFORNIA 91-2112732 | --- | --- | |------ ...

Net Income and Profitability - Net income for the quarter ended September 30, 2024, decreased 0.6% to $3.8 million compared to $3.9 million for the same period in 2023[1][4] - Net income for the nine months ended September 30, 2024, decreased 14.6% to $12.3 million compared to $14.4 million for the same period in 2023[10] - Net income for September 2024 was $3,829 thousand, down from $4,297 thousand in June 2024[33] - Net income for the nine months ended September 30, 2024, is $12.287 million, a decrease of 14.6% compared to $14.395 million in 2023[38] - Non-GAAP core net income for the nine months ended September 30, 2024, is $12.188 million, down 17.6% from $14.788 million in 2023[38] Net Interest Margin and Interest Income - Net interest margin increased to 4.20% for the quarter ended September 30, 2024, compared to 4.09% for the same period in 2023[2][6] - Net interest margin decreased slightly to 4.20% in September 2024 from 4.28% in June 2024[30] - Net interest income before provision for credit losses decreased by $2.3 million (0.91%) to $35.0 million for the nine months ended September 30, 2024, compared to $37.4 million in the same period in 2023[12] - Net interest income for the nine months ended September 30, 2024, was $35,046 thousand, down from $37,368 thousand in the same period of 2023, a decrease of 6.21%[28] - Total interest income rose to $15,755 thousand in September 2024, up from $14,972 thousand in June 2024[33] - Interest income from loans and fees for the nine months ended September 30, 2024, was $41,457 thousand, up from $40,292 thousand in the same period of 2023, an increase of 2.89%[28] Loans and Deposits - Total loans increased 5.99% to $975.2 million as of September 30, 2024, compared to $920.0 million at December 31, 2023[2] - Total deposits increased 6.0% to $1.07 billion as of September 30, 2024, compared to $1.00 billion at December 31, 2023[2] - Total loans increased to $975,151 thousand in September 2024, up from $949,413 thousand in June 2024[32] - Total deposits increased to $1,065,021 thousand in September 2024, up from $1,006,614 thousand in June 2024[32] - Net loans grew to $958,628 thousand in September 2024, up from $904,384 thousand in December 2023, an increase of 6%[27] - Total deposits rose to $1,065,021 thousand in September 2024, compared to $1,004,477 thousand in December 2023, marking a 6.03% increase[27] - Loan-to-deposit ratio as of September 30, 2024, is 91.56%, slightly down from 91.59% as of December 31, 2023[36] Noninterest Income and Expense - Noninterest income increased to $2.0 million for the quarter ended September 30, 2024, primarily due to a $661,000 gain on the fair value of junior subordinated debentures[7] - Noninterest income increased by $2.0 million to $4.6 million for the nine months ended September 30, 2024, driven by gains from life insurance proceeds and changes in the fair value of TRUPs[13] - Noninterest income for the nine months ended September 30, 2024, was $4,591 thousand, compared to $2,574 thousand in the same period of 2023, a significant increase of 78.36%[28] - Noninterest expense increased by $1.8 million to $20.8 million for the nine months ended September 30, 2024, primarily due to higher professional fees and salaries[14] - Total noninterest expense for the nine months ended September 30, 2024, was $20,849 thousand, up from $19,082 thousand in the same period of 2023, an increase of 9.26%[28] Asset and Liability Growth - Total assets increased by $44.3 million (3.7%) to $1.2 billion as of September 30, 2024, driven by growth in gross loan balances and cash equivalents[16] - Total deposits increased by $60.5 million (6.0%) to $1.1 billion as of September 30, 2024, with interest-bearing deposits rising by $103.7 million[17] - Total assets increased to $1,255,376 thousand as of September 30, 2024, compared to $1,211,045 thousand at the end of 2023, reflecting a growth of 3.66%[27] - Total interest-earning assets increased to $1,120,080 thousand in September 2024, up from $1,082,749 thousand in June 2024[30] Credit Quality and Provisions - The provision for credit losses increased to $1.8 million for the nine months ended September 30, 2024, compared to $587,000 in the same period in 2023, primarily due to student loan charge-offs[20] - Non-performing assets increased by $974,000 to $17.4 million as of September 30, 2024, representing 1.39% of total assets[21] - The company's provision for credit losses for the nine months ended September 30, 2024, was $1,750 thousand, compared to $587 thousand in the same period of 2023, a substantial increase of 198.13%[28] - Nonperforming loans to total gross loans ratio increased to 1.32% in September 2024 from 1.29% in December 2023[35] - Total nonperforming assets increased to $17,430 thousand in September 2024 from $16,456 thousand in December 2023[35] - Provision for credit losses increased significantly to $1,558 thousand in September 2024 from $19 thousand in June 2024[33] - Allowance for credit losses to nonperforming loans decreased to 128.60% in September 2024 from 131.87% in December 2023[35] Capital and Shareholder Equity - The company's Tier 1 Leverage Ratio improved to 12.44% as of September 30, 2024, compared to 11.82% as of December 31, 2023[2] - Shareholders' equity increased by $10.3 million to $132.9 million as of September 30, 2024, driven by net income and a decrease in accumulated other comprehensive loss[18] - Tier 1 capital to adjusted average assets (leverage ratio) for the company as of September 30, 2024, is 12.44%, up from 11.82% as of December 31, 2023[36] - Book value per share as of September 30, 2024, is $7.67, compared to $7.14 as of December 31, 2023[36] - Tangible book value per share as of September 30, 2024, is $7.41, up from $6.88 as of December 31, 2023[36] Efficiency and Return Metrics - The efficiency ratio improved to 52.47% for the quarter ended September 30, 2024, compared to 54.63% for the same period in 2023[8] - Efficiency ratio for the three months ended 2024 is 52.47%, improving from 54.63% in 2023[36] - Annualized return on average assets (ROAA) increased to 1.24% for the quarter ended September 30, 2024, compared to 1.21% for the same period in 2023[4] - Return on average assets for the three months ended 2024 is 1.24%, compared to 1.21% for the same period in 2023[36] - Return on average equity for the three months ended 2024 is 11.63%, down from 13.06% in 2023[36] - Annualized net charge-offs to average loans for the three months ended 2024 is 0.27%, up from 0.20% in 2023[36] Dividends and Capital Adequacy - The company declared a cash dividend of $0.12 per share, payable on October 23, 2024[19] - The company remains well-capitalized and expects to maintain adequate capital levels[19] Cost of Deposits - Annualized average cost of deposits increased to 1.18% for the quarter ended September 30, 2024, compared to 0.71% for the same period in 2023[2][5]

Table of Contents SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2024 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 000-32897 UNITED SECURITY BANCSHARES (Exact name of registrant as specified in its charter) CALIFORNIA 91-2112732 | --- | --- | |----------- ...

Dennis Woods, President and Chief Executive Officer, stated, "We have largely completed the migration of all of our computers and servers to offsite data warehouses to provide 24/7 security from hackers and power interruptions. Also, during these moves, we have significantly increased our IT capacity which will provide for continued new growth. We are very pleased with the new pickup in loan growth, while at the same time being able to maintain our 4.28% net interest margin. Now we are just waiting on the F ...

Table of Contents SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Commission file number: 000-32897 UNITED SECURITY BANCSHARES (Exact name of registrant as specified in its charter) | CALIFORNIA | 91-2112732 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (I.R.S. Employer Identification No.) | | 2126 Inyo Street, Fresno, California | 93721 | | (Address of principal executive offices) | (Zip Code) | | Registrant's telephone number, including area code | ...

FRESNO, CA - April 18, 2024. United Security Bancshares (Nasdaq: UBFO) today announced its unaudited financial results for the quarter ended March 31, 2024. The Company reported net income of $4.2 million, or $0.24 per basic and diluted share, for the quarter ended March 31, 2024, compared to $6.1 million, or $0.36 per basic and diluted share, for the quarter ended March 31, 2023. Provided at the end of this press release is a reconciliation of Core Net Income, as a non-GAAP measure, to Net Income. This rec ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE FISCAL YEAR ENDED DECEMBER 31, 2023. ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO . Commission file number: 000-32987 UNITED SECURITY BANCSHARES (Exact name of registrant as specified in its charter) CALIFORNIA 91-2112732 (State or other jurisdiction of i ...