United Security Bancshares Completes Acquisition of Taft National Bank

United Security Bancshares Completes Acquisition of Taft National
Bank 


FRESNO, Calif., April 23  /PRNewswire-FirstCall/ -- Dennis R. Woods, President
and Chief Executive Officer of United Security Bancshares  (
http://www.unitedsecuritybank.com/ ) announced today the completion of its
acquisition of Taft National Bank ("TNB") with and into its wholly owned
subsidiary, United Security Bank.  TNB stockholders will receive .90314316 UBFO
shares for each TNB share owned.  Approximately 241,574 UBFO shares will be
issued for all outstanding TNB shares.  The aggregate market value of the UBFO
shares to be issued to TNB shareholders was just over $6 million on April 23,
2004 or about 1.65 times TNB book value.

Woods added, "In today's economic environment, it's more difficult than ever
before for smaller institutions to provide their shareholders with acceptable
returns on equity, even in dynamic markets.  The combination of TNB with USB
provides an opportunity for shareholders of both companies to benefit, as well
as the customers and employees of both institutions.  We're excited to be
entering the new dynamic marketplace of Kern County."

United Security Bank operated eight branches in Fresno and Madera Counties
prior to the acquisition of TNB.  On Monday, April 26, 2004, two TNB branches,
Taft and Bakersfield, will be open for business as usual under the name of
United Security Bank, bringing the total branches to ten.

United Security Bancshares, with $560 million in assets, is the parent company
of United Security Bank, a state-chartered bank and member of the Federal
Reserve Bank of San Francisco.  The bank will operate ten branches, 25 ATM's,
four loan centers and four administrative departments across three counties,
Fresno, Madera and Kern, following the merger. 

DATASOURCE: United Security Bancshares



CONTACT:  Dennis Woods, President and Chief Executive Officer of United

Security Bank, [phone]



Web site:  http://www.unitedsecuritybank.com/ 

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