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Parent Company Only Financial Statements | 12 Months Ended
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Dec. 31, 2024
Condensed Financial Information Disclosure [Abstract] |
Parent Company Only Financial Statements | Parent Company Only Financial Statements The following are the condensed financial statements of United Security Bancshares and should be read in conjunction with the consolidated financial statements:
United Security Bancshares – (parent only) |  |  |  |
Balance Sheets - December 31, 2024, and 2023 |  |  |  |
(In thousands) |  | 2024 |  | 2023
Assets |  |  |  |
Cash and equivalents |  | $ | 2,584 |  |  | $ | 2,902 |
Investment in bank subsidiary |  | 139,845 |  |  | 131,810 |
Other assets |  | 1,588 |  |  | 1,102 |
Total assets |  | $ | 144,017 |  |  | $ | 135,814 |
Liabilities & Shareholders’ Equity |  |  |  |
Liabilities: |  |  |  |
Junior subordinated debentures (at fair value) |  | $ | 11,572 |  |  | $ | 11,213 |
Dividends declared |  | 2,083 |  |  | 2,059 |
Total liabilities |  | 13,655 |  |  | 13,272 |
Shareholders’ Equity: |  |  |  |
Common stock, no par value; 20,000,000 shares authorized; issued and outstanding: 17,364,894 at December 31, 2024 and 17,167,895 at December 31, 2023 |  | 61,267 |  |  | 60,585 |
Retained earnings |  | 83,447 |  |  | 76,995 |
Accumulated other comprehensive loss, net of tax |  | (14,352) |  |  | (15,038) |
Total shareholders’ equity |  | 130,362 |  |  | 122,542 |
Total liabilities and shareholders’ equity |  | $ | 144,017 |  |  | $ | 135,814 |
United Security Bancshares – (parent only) |  | Years ended December 31, |  |
Income Statements |  |  |
(In thousands) |  | 2024 |  | 2023 |  |
Income |  |  |  |  |  |
(Loss) gain on fair value of junior subordinated debentures |  | $ | (614) |  |  | $ | 274 |  |  |
Dividends from subsidiary |  | 9,311 |  |  | 8,451 |  |  |
Total income |  | 8,697 |  |  | 8,725 |  |  |
Expense |  |  |  |  |  |
Interest expense |  | 816 |  |  | 799 |  |  |
Other expense |  | 511 |  |  | 460 |  |  |
Total expense |  | 1,327 |  |  | 1,259 |  |  |
Income before taxes and equity in undistributed income of subsidiary |  | 7,370 |  |  | 7,466 |  |  |
Benefit for income taxes |  | (574) |  |  | (291) |  |  |
Equity in undistributed income of subsidiary |  | 6,839 |  |  | 12,039 |  |  |
Net Income |  | $ | 14,783 |  |  | $ | 19,796 |  |  |
United Security Bancshares – (parent only) |  | Years ended December 31,
Statement of Cash Flows |
(In thousands) |  | 2024 |  | 2023 |  |
Cash Flows From Operating Activities |  |  |  |  |  |
Net income |  | $ | 14,783 |  |  | $ | 19,796 |  |  |
Adjustments to reconcile net income to cash provided by operating activities: |  |  |  |  |  |
Equity in undistributed income of subsidiary |  | (6,839) |  |  | (12,039) |  |  |
Benefit for deferred income taxes |  | (130) |  |  | (70) |  |  |
Loss (gain) on fair value of junior subordinated debentures |  | 614 |  |  | (274) |  |  |
(Increase) decrease in income tax receivable |  | (394) |  |  | 200 |  |  |
Net decrease in other assets |  | (46) |  |  | 800 |  |  |
Net cash provided by operating activities |  | 7,988 |  |  | 8,413 |  |  |
Cash Flows From Financing Activities |  |  |  |  |  |
Dividends paid |  | (8,306) |  |  | (8,451) |  |  |
Net cash used in financing activities |  | (8,306) |  |  | (8,451) |  |  |
Net decrease in cash and cash equivalents |  | (318) |  |  | (38) |  |  |
Cash and cash equivalents at beginning of year |  | 2,902 |  |  | 2,940 |  |  |
Cash and cash equivalents at end of year |  | $ | 2,584 |  |  | $ | 2,902 |  |  |

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- Definition The entire disclosure for condensed financial information, including the financial position, cash flows, and the results of operations of the registrant (parent company) as of the same dates or for the same periods for which audited consolidated financial statements are being presented. Alternatively, the details of this disclosure can be reported by the specific parent company taxonomy elements, indicating the appropriate date and period contexts in an instance document. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 235 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 3 -Subparagraph (SX 210.12-04(a)) -Publisher FASB -URI https://asc.fasb.org/1943274/2147480678/235-10-S99-3 Reference 2: http://www.xbrl.org/2003/role/recommendedDisclosureRef -Topic 810 -SubTopic 10 -Name Accounting Standards Codification -Section 45 -Paragraph 11 -Publisher FASB -URI https://asc.fasb.org/1943274/2147481231/810-10-45-11 + Details
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