Financial Performance - Total assets increased 2.9% to $1.37 billion compared to $1.33 billion at December 31, 2021[166] - Total loans, net of unearned fees, increased 10.4% to $962.2 million compared to $871.5 million at December 31, 2021[166] - Net interest income before the provision for credit losses increased 24.0% to $32.6 million for the nine months ended September 30, 2022, compared to $26.3 million for the same period in 2021[166] - Return on average assets ("ROAA") was 1.03% for the nine months ended September 30, 2022, compared to 0.75% for the same period in 2021[166] - Return on average equity ("ROAE") was 11.99% for the nine months ended September 30, 2022, compared to 7.55% for the same period in 2021[166] - Total interest income increased by $6.7 million, or 24.1%, for the nine months ended September 30, 2022, compared to the same period in 2021[192] - The company reported an increase in net interest income of $3,393 thousand for the three months ended September 30, 2022, compared to the same period in 2021[190] Asset and Liability Management - Total average assets reached $1,383,157 thousand in 2022, up from $1,270,323 thousand in 2021, reflecting a growth of approximately 8.9%[183] - Total liabilities increased to $1,269,329 thousand in 2022 from $1,149,771 thousand in 2021, marking a growth of about 10.4%[183] - Total shareholders' equity decreased to $113,828 thousand in 2022 from $120,552 thousand in 2021, indicating a decline of approximately 5.6%[183] - Cash and cash equivalents decreased by $93.2 million, or 42.5%, between December 31, 2021, and September 30, 2022[207] - Total deposits reached $1.24 billion, reflecting an increase of $52.7 million, or 4.4%, from $1.19 billion at December 31, 2021[221] - Average interest-bearing liabilities increased to $739.2 million for the nine months ended September 30, 2022, from $641.9 million for the same period in 2021[208] Loan Portfolio and Credit Quality - The loan portfolio totaled $960.5 million at September 30, 2022, an increase of $91.2 million, or 10.5%, from $869.3 million at December 31, 2021[209] - Real estate mortgage loans increased by $74.7 million, or 13.4%, during the first nine months of 2022[210] - Commercial and industrial loans increased by $16.9 million between December 31, 2021, and September 30, 2022[215] - Total loans outstanding increased from $809.1 million at September 30, 2021 to $962.2 million at September 30, 2022, representing a growth of 18.9%[270] - Impaired and classified loans totaled $11.8 million, or 1.2% of gross loans, as of September 30, 2022, down from $13.7 million, or 1.6%, at December 31, 2021[232] - The allowance for loan losses increased to $10.063 million as of September 30, 2022, from $9.333 million at December 31, 2021[241] Interest Income and Expense - Total interest income increased by $3.6 million, or 36.9%, for the three months ended September 30, 2022, compared to the same period in 2021[190] - The average yield on total interest-earning assets increased by 84 basis points, driven by higher yields on investment securities and loans due to market rate increases[190] - Net interest margin improved to 3.95% for the three months ended September 30, 2022, compared to 3.17% in the same period of 2021[190] - Total interest expense increased by approximately $399,000, or 26.1%, for the nine months ended September 30, 2022, compared to the same period in 2021[195] - Interest expense as a percentage of average earning assets rose to 0.24% in 2022 from 0.18% in 2021[190] Economic and Market Conditions - The Federal Open Market Committee increased the overnight benchmark rate by 300bps during 2022 to combat rising inflation[169] - The prime rate increased from 3.25% at September 30, 2021, to 6.25% at September 30, 2022, impacting both interest income and expense[188] - The effective tax rate for the nine months ended September 30, 2022, was 28.87%, compared to 28.28% for the same period in 2021[206] - The company continues to monitor economic conditions in the real estate market to adjust the allowance for loan losses as necessary[264] Dividends and Capital Management - The Company declared a cash dividend of $0.11 per share on common stock on September 27, 2022, totaling approximately $1.9 million[286] - The Bank's Tier 1 Capital Ratio was 9.60% at September 30, 2022, compared to 9.80% at September 30, 2021[280] - The Company's capital position remains well-capitalized with a 9.56% Tier 1 Leverage Ratio compared to 9.79% as of December 31, 2021[166] Noninterest Income and Expenses - Noninterest income decreased by $1.3 million to $789,000 for the nine months ended September 30, 2022, compared to $2.1 million in the same period in 2021[199] - Professional fees increased by $433,000, or 17.2%, for the nine months ended September 30, 2022, compared to the same period in 2021[202] - Salaries and employee benefits remained relatively stable, decreasing slightly by $13,000 to $8.8 million for the nine months ended September 30, 2022[202]

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) | Registrants telephone number, including area code (559) ...

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) | Registrants telephone number, including area code (559) ...

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, 2021. ☐ 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 ...

Table of Content Indicate by check mark whether the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securities Act. Yes ☐ No ☒ Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing for the past 90 days. Yes ☒ No ☐ Indicate by chec ...

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) | Registrants telephone number, including area code (559) 248-4943 Table of Content SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q Commission file number: 0 ...

Table of Content 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) | Registrants telephone number, including area code (559) ...

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, 2020. ☐ 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 ...

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) | Registrants telephone number, including area code (559) ...

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) Registrants telephone number, including area code (559) 248-4943 Indicate by check mark wheth ...