July 7, 2010 (FinancialWire) — United Security Bancshares (NASDAQ: UBFO) said that its board of directors has declared a 3rd quarter 2010 stock dividend of one percent. The stock dividend will be paid to shareholders of record on July 9, and the dividend shares will be issued on July 21.

The move marks the 8th consecutive stock dividend since initiated in 2008. United Security said that 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.

California-based United Security Bancshares was formed in 2001 as a bank holding company to provide commercial banking services through its wholly owned subsidiary, United Security Bank.

United Security Bank operates eleven branches in Fresno, Madera, Kern, and Santa Clara Counties, and employs more than 160 people.

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