published on February 2, 2016 - 7:29 PM
Written by The Business Journal Staff
United Security Bancshares, the Fresno-based holding company of United Security Bank, announced an “exceptional” 2015 with net income if $6.8 million.

That’s a nearly 10-percent improvement from 2014 income. Earnings per share last year reached 42 cents, up from 39 cents in 2014.

For the four quarter of last year, the bank saw $1.6 million in net income, or 10 cents per share, up slightly from $1.5 million the same quarter of ’14.

“2015 has been an exceptional year for United Security Bancshares as we grew our loan portfolio, core deposit base, and recognized a 22% year over year increase in core earnings, all while decreasing levels of nonperforming assets and maintaining strong capital and liquidity levels. We look forward to continued success in 2016,” said Dennis R. Woods, president and CEO.

The bank reported total assets of $725.6 million on Dec. 31, 2015, up from $663.1 million on the same date in 2014.

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