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The Spokesman-Review Newspaper
Spokane, Washington  Est. May 19, 1883

Usb Declares Dividend

From Staff

United Security Bancorporation has declared a 10 percent stock dividend for holders of record Feb. 10. The shares will be distributed Feb. 24.

The Spokane-based bank holding company has made five stock distributions or splits since going public in May 1995. All have occurred in February.

“United Security has just completed its best year ever,” said President Richard Emery. “We are maintaining our company’s pattern of stock dividends and split-ups to share these successes with shareholders.”

The latest dividend will bring the total number of shares outstanding to 7.6 million. But in December, the company announced plans to buy back 346,975 shares.

The purchases will start after the release of year-end earnings Thursday.

United Security assets stood at $528 million on Sept. 30, the end of the latest reporting period.