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United Security Bancshares reports 2nd quarter net income of $2.7 million FRESNO, CA - July 21, 2021. United Security Bancshares (Nasdaq: UBFO) today announced its unaudited financial results for the three and six months ended June 30, 2021. The Company recognized net income of $4.1 million, or $0.24 per basic and diluted share for the six months ended June 30, 2021, compared to net income of $4.8 million, or $0.28 per basic and diluted share for the six months ended June 30, 2020. Second Quarter 2021 Highlights(at or for the quarter ended June 30, 2021, except where noted) ▪Net income for the quarter increased 34.44% to $2.7 million, compared to $2.0 million for the quarter ended June 30, 2020. The increase is primarily the result of an increase of $859,000 in loan interest income and fees, and decrease in OREO expense of $890,000.
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Richard Staba, 89, of New Canaan, CT, passed away peacefully at home on June 21, 2021 after a difficult battle with cancer. Richard was born to Veronica and Joseph Staba in Hoboken, NJ. After graduating high school, he went on to earn a Bachelor of Science from Rutgers University. His career began at First National City Bank (Citibank), where he was employed for 45-years, spending most of those years in Commercial Lending and Finance. He also spent a few years consulting for a family-owned commodity trading company. He was a member of the U.S. Army during the Korean War and was stationed in White Sands, New Mexico during his service.
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