secwatch.observer — SEC 8-K summary
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Issuer:     UNITED SECURITY BANCSHARES (—)
CIK:        0001137547
Form:       8-K
Filed at:   2026-04-01T23:59:59+00:00
Accession:  0001628280-26-022619
Event type: m_and_a
Sentiment:  positive
Materiality: 0.85
Item codes: 2.01, 3.01, 3.03, 5.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Community West Bancshares completes acquisition of United Security Bancshares for ~$185.5M in stock
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- Merger closed April 1, 2026; UBFO shareholders receive 0.4520 CWBC shares per share, valued at ~$10.53/share.
- Total consideration ~$185.5M based on CWBC closing price of $23.30 on Mar 31; combined entity has ~$5B in assets.
- Two USB directors (Jay Gill, Dora Westerlund) join CWBC board; three CWBC directors retire (Chadwick, Dobyns, Smittcamp).
- Dennis R. Woods becomes Chairman Emeritus; James J. Kim remains CEO/President; Daniel J. Doyle Chairman, Jay Gill Vice Chairman.
- UBFO stock delisted from Nasdaq; USB ceases to exist as separate entity.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1137547/000162828026022619/0001628280-26-022619-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1137547/000162828026022619/ubfo-20260401.htm
  HTML page:      https://secwatch.observer/filing/0001628280-26-022619

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer