UNITED SECURITY BANCSHARES (NASDAQ:UBFO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain OfficersItem 5.02 (b) Departure of Directors or Principal Officers; Election of Directors; Appointment of Principal Officers; Compensatory Arrangements of Certain Officers.
UNITED SECURITY BANCSHARES (NASDAQ:UBFO) Files An 8-K Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Ken Donahue, Executive Vice President and Chief Administrative Officer, has advised the Company that he will retire effective April 30, 2017. He began his banking career in May 1970. His retirement was anticipated in the Company’s five-year succession plan and his current duties will be assumed by other executive officers near his departure date. In planning for his retirement, the Company recently hired a Chief Risk Officer and Controller/CPA to ensure a smooth transition.
Mr. Donahue will provide services to the Company post-retirement, as needed, including assisting with new business opportunities, at the direction of the President and CEO, as a consultant.
Mr. Donahue has indicated his desire to sell some or all of his United Security Bancshares stock to help fund his retirement, indicating that those shares will most likely be purchased by insiders in private transactions.
About UNITED SECURITY BANCSHARES (NASDAQ:UBFO)
United Security Bancshares is the bank holding company for United Security Bank (the Bank). The Bank is a California state-chartered bank. The Bank operates in the segment of providing banking services to commercial establishments and individuals primarily in the San Joaquin Valley of California. The Bank offers a range of services for commercial customers and account holders, including online banking, mobile banking, safe deposit boxes, automated teller machine (ATM) services, payroll direct deposit, cashier’s checks, traveler’s checks, money orders and foreign drafts. The Bank offers a range of financial services, including wealth management, employee benefit, insurance and loan products, as well as consulting services. It offers a range of deposit instruments, including personal and business checking accounts and savings accounts, interest-bearing negotiable order of withdrawal (NOW) accounts, money market accounts and time certificates of deposit. UNITED SECURITY BANCSHARES (NASDAQ:UBFO) Recent Trading Information
UNITED SECURITY BANCSHARES (NASDAQ:UBFO) closed its last trading session up +0.05 at 7.50 with 0 shares trading hands.
United Security Bancshares is the bank holding company for United Security Bank (the Bank). The Bank is a California state-chartered bank. The Bank operates in the segment of providing banking services to commercial establishments and individuals primarily in the San Joaquin Valley of California. The Bank offers a range of services for commercial customers and account holders, including online banking, mobile banking, safe deposit boxes, automated teller machine (ATM) services, payroll direct deposit, cashier’s checks, traveler’s checks, money orders and foreign drafts. The Bank offers a range of financial services, including wealth management, employee benefit, insurance and loan products, as well as consulting services. It offers a range of deposit instruments, including personal and business checking accounts and savings accounts, interest-bearing negotiable order of withdrawal (NOW) accounts, money market accounts and time certificates of deposit. UNITED SECURITY BANCSHARES (NASDAQ:UBFO) Recent Trading Information
UNITED SECURITY BANCSHARES (NASDAQ:UBFO) closed its last trading session up +0.05 at 7.50 with 0 shares trading hands.
