logo
Share SHARE
FONT-SIZE Plus   Neg

United Security Bancshares Q4 Loss Widens - Quick Facts

United Security Bancshares Inc. (USBI) reported fourth-quarter net loss attributable to the company of $9.5 million or $1.58 per share, wider than $6.5 million or $1.08 per share in the prior year quarter.

Net interest income increased 1.7% to $9.0 million from $8.8 million in the year-ago quarter. The increase in net interest income resulted from a lower cost of funds compared with 2010, as was reflected in the improvement in the net interest margin rising to 6.13% in the fourth quarter of 2011, compared to 5.83% in the fourth quarter of 2010.

Total non-interest income was $3.7 million, compared to $2.2 million in the comparable quarter last year. The growth in non-interest income was primarily due to the $2.1 million gain on sale of investment securities recognized in the fourth quarter of 2011.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Editors Pick
Bimbo Bakeries is recalling packages of certain bread products across 11 states, after it received three consumer-reports of small pieces of glass found on the outside of the bread. Design software maker Autodesk, Inc. said Thursday after the markets closed that it swung to a second quarter loss, hurt by lower revenue and a hefty tax charge. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations, but its quarterly revenue fell short of analysts' forecast. GameStop reported an increase in second-quarter profit, driven by strong same-store sales growth and improved margins, partly offset by a stronger dollar and one-time charges. Both earnings and sales surpassed Wall Street estimates. The video-game retailer lifted its guidance for 2015. GameStop shares gained about 2 percent in after-hours trade.
comments powered by Disqus
Follow RTT