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Shareholders' Equity
 12 Months Ended
Dec. 31, 2014
Equity [Abstract]  
Shareholders' Equity
15. SHAREHOLDERS’ EQUITY

Dividends are paid at the discretion of the Company’s Board of Directors, based on the Company’s operating performance and financial position, including earnings, capital and liquidity. Dividends from the Bank are the Company’s primary source of funds for the payment of dividends to shareholders. In addition, federal and state regulatory agencies have the authority to prevent the Company from paying a dividend to shareholders. During the year ended December 31, 2014, the Company declared dividends of $0.2 million, or $0.03 per share. The Company did not pay a dividend in 2013.

The Company is subject to various regulatory capital requirements that prescribe quantitative measures of the Company’s assets, liabilities and certain off-balance sheet items. The Company’s regulators also have imposed qualitative guidelines for capital amounts and classifications such as risk weightings, capital components and other details. The quantitative measures to ensure capital adequacy require that the Company maintain amounts and ratios of total and Tier I capital (as defined in the regulations) to risk-weighted assets (as defined in the regulations), and of Tier I capital to average total assets (as defined in the regulations). Failure to meet minimum capital requirements can result in certain actions by regulators that, if undertaken, could have a direct material effect on the Company’s consolidated financial statements.

 

As of December 31, 2014 and 2013, the Company and Bank were classified as “well-capitalized” under the regulatory framework for prompt corrective action. To be categorized as “well-capitalized,” an entity must maintain minimum total risk-based, Tier I risk-based and Tier I leverage ratios. Actual capital amounts, as well as required and well capitalized total risk-based, Tier I risk-based, and Tier I leverage ratios as of December 31, 2014 and 2013, for the Company and the Bank are set forth in the table below.

 

     2014  
     Actual     Adequacy
Purposes		     To Be Well
Capitalized Under
Prompt Corrective
Action Provisions		  
     Amount      Ratio     Amount      Ratio     Amount      Ratio  
     (Dollars in Thousands)  

Total capital (to risk weighted assets):

                

United Security Bancshares, Inc.

    $ 69,251         22.61 %    $ 24,503         8.00 %      N/A         N/A   

First US Bank

      69,765         22.78 %      24,503         8.00 %    $ 30,629         10.00 % 

Tier I capital (to risk weighted assets):

                

United Security Bancshares, Inc.

      65,394         21.35 %      12,252         4.00 %      N/A         N/A   

First US Bank

      65,908         21.52 %      12,252         4.00 %      18,377         6.00 % 

Tier I leverage (to average assets):

                

United Security Bancshares, Inc.

      65,394         11.75 %      16,690         3.00 %      N/A         N/A   

First US Bank

      65,908         11.85 %      16,684         3.00 %      27,807         5.00 % 

 

     2013  
     Actual     Adequacy
Purposes		     To Be Well
Capitalized Under
Prompt Corrective
Action Provisions		  
     Amount      Ratio     Amount      Ratio     Amount      Ratio  
     (Dollars in Thousands)  

Total capital (to risk weighted assets):

                

United Security Bancshares, Inc.

    $ 64,842         19.20 %    $ 27,012         8.00 %      N/A         N/A   

First US Bank

      65,304         19.34 %      27,012         8.00 %    $ 33,765         10.00 % 

Tier I capital (to risk weighted assets):

                

United Security Bancshares, Inc.

      60,557         17.93 %      13,506         4.00 %      N/A         N/A   

First US Bank

      61,019         18.07 %      13,506         4.00 %      20,259         6.00 % 

Tier I leverage (to average assets):

                

United Security Bancshares, Inc.

      60,557         10.88 %      16,698         3.00 %      N/A         N/A   

First US Bank

      61,019         10.97 %      16,691         3.00 %      27,819         5.00 % 

There are no significant conditions or events that have occurred since December 31, 2014 which management believes have affected the Company’s or the Bank’s classification as “well-capitalized.” As of January 1, 2015, the Company and the Bank were subject to revised capital requirements as described in the section captioned “Capital Adequacy Guidelines” in PART I. Item 1. Business, located in this report. The Company and Bank will report under the revised capital requirements beginning with regulatory reports filed as of March 31, 2015.