United Security Bancshares
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United Security Bancshares (UBFO) investor relations material

United Security Bancshares Proxy Filing summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Proxy Filing summary25 Feb, 2026

Executive summary

  • Community West Bancshares and United Security Bancshares have agreed to merge, with CWB as the surviving entity; USB shareholders will receive 0.4520 shares of CWB common stock per USB share, with cash for fractional shares.

  • The merger is valued at approximately $193.3 million based on recent CWB stock prices, and is expected to close in Q2 2026, pending regulatory and shareholder approvals.

  • CWB shareholders will own about 70.6% and USB shareholders about 29.4% of the combined company post-merger.

  • Special meetings for both companies' shareholders are scheduled for March 30, 2026, to vote on the merger and related proposals.

  • The merger aims to enhance strategic growth, expand market reach, and provide operational efficiencies for both organizations.

Voting matters and shareholder proposals

  • Shareholders of both companies are asked to approve the merger agreement and, if necessary, the adjournment of the special meeting to solicit additional proxies.

  • Approval requires a majority of outstanding shares for the merger proposal; abstentions and broker non-votes generally count as votes against.

  • Directors and executive officers of both companies have entered into voting and support agreements to vote their shares in favor of the merger.

Board of directors and corporate governance

  • The combined board will include two USB directors, Jagroop “Jay” Gill and Dora Westerlund, joining the CWB board post-merger.

  • The current officers and directors of CWB will continue in their roles, with additional representation from USB.

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Next United Security Bancshares earnings date

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Q1 202617 Apr, 2026
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Q1 202617 Apr, 2026

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Frequently asked questions

United Security Bancshares, operating as the holding company for United Security Bank, provides a broad range of commercial banking services primarily to businesses, professionals, and individuals across several counties in California, including Fresno, Madera, Santa Clara, and Kern. The bank offers various deposit products such as checking and savings accounts, money market accounts, and certificates of deposit. It also provides a range of loan products, including commercial, real estate, construction, and consumer loans. Additional services include online and mobile banking, safe deposit boxes, wire transfers, and wealth management. The company's revenue mainly comes from interest income on loans and investment securities. The company is headquartered in Fresno, California, and its shares are listed on the NASDAQ.

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