---
schema_version: "secwatch.filing_event.v1"
accession: "0001137547-24-000069"
form_type: "8-K"
ticker: null
cik: "0001137547"
company_name: "UNITED SECURITY BANCSHARES"
filed_at: "2024-04-18T23:59:59+00:00"
generated_at: "2026-06-03T18:09:05.737573+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# United Security Bancshares reports Q1 net income of $4.2M ($0.24 EPS), down 32% YoY

## Summary
- Net income $4.2M ($0.24 diluted EPS) vs $6.1M ($0.36) in Q1 2023; revenue (net interest income) down 9.5% to $11.7M.
- Net interest margin dipped to 4.35% from 4.51%; cost of funds rose to 1.73% from 0.83%.
- Deposits fell 4.8% to $955.9M; noninterest-bearing deposits dropped 12.4% to $353.2M.
- Provision for credit losses was $173K (vs $493K reversal a year ago); NPL ratio 1.35%.
- ROAE 13.51% (vs 22.05%); dividend declared at $0.12/share; Tier 1 leverage ratio 12.47%.

## SEC filing metadata
- accession: 0001137547-24-000069
- form_type: 8-K
- cik: 0001137547
- company_name: UNITED SECURITY BANCSHARES
- filed_at: 2024-04-18T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1137547/000113754724000069/0001137547-24-000069-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1137547/000113754724000069/ubfo-20240418.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001137547-24-000069
- JSON: https://secwatch.observer/filing/0001137547-24-000069.json
- Plain text: https://secwatch.observer/filing/0001137547-24-000069.txt

## Key facts
- Earnings Releases
  UNITED SECURITY BANCSHARES reported the quarter ended March 31, 2024 results: net income $4.2 million, EPS $0.24 per basic and diluted share.
  - Period: the quarter ended March 31, 2024
  - Net income: $4.2 million
  - EPS: $0.24 per basic and diluted share
  - Result: reported results
  source text: The Company reported net income of $4.2 million, or $0.24 per basic and diluted share, for the quarter ended March 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1137547/000113754724000069/0001137547-24-000069-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.