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Parent Company Only Financial Statements
 12 Months Ended
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)20242023
Assets  
Cash and equivalents$2,584 $2,902 
Investment in bank subsidiary139,845 131,810 
Other assets1,588 1,102 
Total assets$144,017 $135,814 
Liabilities & Shareholders’ Equity 
Liabilities: 
Junior subordinated debentures (at fair value) $11,572 $11,213 
Dividends declared2,083 2,059 
Total liabilities13,655 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 earnings83,447 76,995 
Accumulated other comprehensive loss, net of tax(14,352)(15,038)
Total shareholders’ equity130,362 122,542 
Total liabilities and shareholders’ equity$144,017 $135,814 
 
United Security Bancshares – (parent only)Years ended December 31,
Income Statements
(In thousands)20242023
Income  
(Loss) gain on fair value of junior subordinated debentures$(614)$274 
Dividends from subsidiary9,311 8,451 
Total income8,697 8,725 
Expense 
Interest expense816 799 
Other expense511 460 
Total expense1,327 1,259 
Income before taxes and equity in undistributed income of subsidiary7,370 7,466 
Benefit for income taxes(574)(291)
Equity in undistributed income of subsidiary6,839 12,039 
Net Income $14,783 $19,796 
 
United Security Bancshares – (parent only)Years ended December 31,
Statement of Cash Flows
(In thousands)20242023
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 debentures614 (274)
(Increase) decrease in income tax receivable(394)200 
Net decrease in other assets(46)800 
Net cash provided by operating activities7,988 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 year2,902 2,940 
Cash and cash equivalents at end of year$2,584 $2,902