UNITED SECURITY BANCSHARES (UBFO) FY2024 10-K Annual Report
UNITED SECURITY BANCSHARES (UBFO) 10-K annual report for fiscal year 2024, filed with SEC EDGAR on Mar 20, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
UNITED SECURITY BANCSHARES FY2024 10-K Analysis
Business Overview
- • Core business model: Commercial banking focused on California markets with branch network, lending, and real estate owned management
- • York Monterey Properties segment managing foreclosed real estate parcels in Monterey County, funded $1.055M since inception, highlighted this year
Management Discussion & Analysis
- • Revenue noninterest income $4.7M, down 15.4% YoY from $5.6M; decline mainly from TRUPs fair value loss of $614K vs gain $274K prior year
- • Noninterest expense $28.3M, up 9% YoY from $26.0M; salaries 1.26% avg assets vs 1.14%, professional fees 0.48% vs 0.38%, data processing expense rise noted
UNITED SECURITY BANCSHARES FY2024 Key Financial MetricsXBRL
Revenue
$3M
▼ 0.0% YoY
Net Income
$15M
▼ -25.3% YoY
Net Margin
506.6%
▼ -17180bp YoY
ROE
11.3%
▼ -481bp YoY
Total Assets
$1.2B
▲ +0.1% YoY
EPS (Diluted)
$0.86
▼ -25.9% YoY
Operating Cash Flow
$20M
▼ -8.1% YoY
Source: XBRL data from UNITED SECURITY BANCSHARES FY2024 10-K filing on SEC EDGAR. All figures in USD.
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