| Business Summary | | United
Security
Bancshares,
Inc.
is
a
bank
holding
company
that
operates
one
banking
subsidiary,
First
United
Security
Bank
(the
Bank).
The
Bank
owns
all
of
the
stock
of
Acceptance
Loan
Company,
Inc.
(ALC),
a
finance
company
organized
for
the
purpose
of
making
consumer
loans
and
purchasing
consumer
loans
from
vendors.
Bancshares
owns
all
the
stock
of
First
Security
Courier
Corporation,
a
corporation
organized
for
the
purpose
of
providing
certain
bank
courier
services.
The
Bank
conducts
a
general
commercial
banking
business
and
offers
banking
services
such
as
the
receipt
of
demand,
savings
and
time
deposits,
personal
and
commercial
loans,
credit
card
and
safe
deposit
box
services
and
the
purchase
and
sale
of
government
securities.
The
Bank's
wholly
owned
subsidiary,
FUSB
Reinsurance,
Inc.,
reinsures
or
underwrites
credit
life
and
credit
accident
and
health
insurance
policies
sold
to
the
Bank's
consumer
loan
customers. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | USBI
is
the
holding
company
of
First
United
Security
Bank,
which
conducts
commercial
banking
business
and
offers
banking
services
through
18
offices
in
AL
and
MI.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
2%
to
$24.4
million.
Interest
income
after
loan
loss
prov.
fell
6%
to
$11.9
million.
Net
income
before
acct.
change
fell
17%
to
$3.2
million.
Results
reflect
increased
investment
securities
and
loans,
offset
by
higher
cost
of
borrowings
and
reduced
fee
income. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| R. Phillips, 47 Pres,
CEO | $275K | Larry Sellers, 52 VP,
Sec. and Treasurer | 146K | Robert Steen, 52 Assistant
Treasurer | 119K | William Morgan, 52 Assistant
Sec. | 121K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|