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.
On July 26, 2017, Director John Terzian notified the Board of Directors of United Security Bancshares ("Company") and its wholly-owned subsidiary, United Security Bank (the "Bank"), of his decision to retire from the Boards of Directors of the Company and the Bank effective August 1, 2017. Mr. Terzian, a founding member of the Bank's Board of Directors, has served as a member of the Board of Directors of the Bank for 30 years. Mr. Terzian will serve as a Director Emeritus, effective August 1, 2017.
Mr. Terzian's retirement anticipated the effectiveness in 2018 of the Company's newly instituted mandatory retirement age for directors.
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.
