Net interest income remains stagnant with a persistent 1.0% net interest margin, while the efficiency ratio has deteriorated to 54.2% as of 2025Q4.
| Metric | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 |
|---|
| Net Interest Income | 48.77M | 46.85M | 49.32M | 46.06M | 35.65M | 32.28M | 37.39M | 33.91M | 31.2M | 28.06M | 26.13M | 23.62M | 21.39M | 23.09M | 24.98M | 27.9M | 28.35M | 30.21M | 36.58M | 33.18M | 29.24M | 24.44M | 19.67M | 17.2M | 16.65M | 17.4M |
| NII Growth % | 4.1% | -5.01% | 7.08% | 29.2% | 10.45% | -13.68% | 10.27% | 8.69% | 11.17% | 7.41% | 10.64% | 10.41% | -7.36% | -7.55% | -10.48% | -1.58% | -6.16% | -17.42% | 10.25% | 13.48% | 19.63% | 24.27% | 14.34% | 3.29% | -4.28% | - |
| Net Interest Margin % | 3.91% | 3.87% | 4.07% | 3.55% | 2.68% | 2.95% | 3.91% | 3.63% | 3.87% | 3.56% | 3.6% | 3.56% | 3.36% | 3.56% | 3.83% | 4.11% | 4.09% | 3.97% | 4.74% | 4.89% | 4.65% | 4% | 3.88% | 3.31% | 3.69% | 4.88% |
| Interest Income | 60.81M | 60.75M | 60.38M | 49.26M | 37.73M | 34.57M | 41.28M | 36.62M | 32.93M | 29.47M | 27.41M | 24.96M | 23M | 25.15M | 27.94M | 32.49M | 35.67M | 45.15M | 57.16M | 47.36M | 38.9M | 30.75M | 26.93M | 28.72M | 30.06M | 28.94M |
| Interest Expense | 12.04M | 13.9M | 11.06M | 3.19M | 2.08M | 2.29M | 3.89M | 2.7M | 1.73M | 1.41M | 1.28M | 1.34M | 1.61M | 2.06M | 2.96M | 4.59M | 7.33M | 14.94M | 20.57M | 14.18M | 9.66M | 6.43M | 7.26M | 11.52M | 13.41M | 11.54M |
| Loan Loss Provision | 5.57M | 2.96M | 1.46M | 1.8M | 2.11M | 2.77M | 20K | -1.76M | 24K | -21K | -41K | -845K | -1.1M | 1.02M | 13.6M | 12.47M | 13.38M | 9.53M | 5.7M | 880K | 1.14M | 1.15M | 1.71M | 1.96M | 1.73M | 1.58M |
| Non-Interest Income | 5.09M | 4.71M | 5.57M | 1.75M | 3.3M | 5.1M | 5.7M | 4.54M | 4.24M | 4.51M | 4.8M | 5.12M | 4.46M | 6.22M | 4.71M | 5.94M | 6.31M | 8.34M | 9.66M | 9.03M | 6.28M | 4.87M | 6.27M | 5.37M | 4.28M | 2.54M |
| Non-Interest Income % | 7.72% | 7.2% | 8.44% | 3.42% | 8.04% | 12.86% | 12.13% | 11.04% | 11.4% | 13.28% | 14.9% | 17.02% | 16.23% | 19.83% | 14.43% | 15.45% | 15.03% | 15.6% | 14.46% | 16.02% | 13.9% | 13.67% | 18.89% | 15.75% | 12.45% | 8.06% |
| Total Revenue | 65.9M | 65.46M | 65.95M | 51M | 41.03M | 39.67M | 46.98M | 41.16M | 37.16M | 33.99M | 32.21M | 30.08M | 27.46M | 31.37M | 32.65M | 38.43M | 41.98M | 53.49M | 66.82M | 56.39M | 45.18M | 35.62M | 33.2M | 34.08M | 34.34M | 31.48M |
| Revenue Growth % | 0.66% | -0.73% | 29.3% | 24.31% | 3.42% | -15.56% | 14.15% | 10.74% | 9.35% | 5.52% | 7.06% | 9.56% | -12.47% | -3.92% | -15.03% | -8.46% | -21.52% | -19.95% | 18.5% | 24.81% | 26.85% | 7.28% | -2.6% | -0.75% | 9.09% | - |
| Non-Interest Expense | 31.59M | 28.28M | 25.95M | 23.95M | 23.53M | 22.2M | 21.8M | 20.87M | 19.73M | 20.34M | 19.66M | 19.18M | 19.57M | 20.69M | 28.61M | 29.02M | 27.97M | 23.35M | 22.73M | 19.94M | 16.98M | 14.67M | 11.86M | 10.86M | 9.82M | 8.65M |
| Efficiency Ratio | 47.93% | 43.2% | 39.36% | 46.95% | 57.35% | 55.96% | 46.41% | 50.71% | 53.09% | 59.86% | 61.04% | 63.74% | 71.28% | 65.95% | 87.63% | 75.52% | 66.62% | 43.65% | 34.02% | 35.36% | 37.59% | 41.18% | 35.71% | 31.86% | 28.59% | 27.47% |
| Operating Income | 16.7M | 20.32M | 27.48M | 22.06M | 13.31M | 12.41M | 21.27M | 19.37M | 15.79M | 12.25M | 11.31M | 10.41M | 7.37M | 7.6M | -12.53M | -7.66M | -6.69M | 5.67M | 17.82M | 21.39M | 17.4M | 13.41M | 12.37M | 9.74M | 9.38M | 9.71M |
| Operating Margin % | 25.33% | 31.04% | 41.66% | 43.25% | 32.45% | 31.29% | 45.27% | 47.07% | 42.48% | 36.05% | 35.11% | 34.6% | 26.85% | 24.23% | -38.37% | -19.92% | -15.93% | 10.61% | 26.67% | 37.94% | 38.51% | 37.64% | 37.26% | 28.59% | 27.31% | 30.84% |
| Operating Income Growth % | -17.84% | -26.04% | 24.56% | 65.68% | 7.27% | -41.64% | 9.78% | 22.71% | 28.84% | 8.38% | 8.64% | 41.14% | -3% | 160.68% | -63.64% | -14.48% | -217.83% | -68.15% | -16.72% | 22.97% | 29.78% | 8.38% | 26.94% | 3.91% | -3.39% | - |
| Pretax Income | 16.7M | 20.32M | 27.48M | 22.06M | 13.31M | 12.41M | 21.27M | 19.35M | 15.68M | 12.25M | 11.31M | 10.41M | 7.37M | 7.6M | -12.53M | -7.66M | -6.69M | 5.67M | 17.82M | 21.39M | 17.4M | 13.37M | 12.37M | 9.74M | 9.38M | 9.71M |
| Pretax Margin % | 25.33% | 31.04% | 41.66% | 43.25% | 32.45% | 31.29% | 45.27% | 47.01% | 42.19% | 36.05% | 35.11% | 34.6% | 26.85% | 24.23% | -38.37% | -19.92% | -15.93% | 10.61% | 26.67% | 37.94% | 38.51% | 37.54% | 37.26% | 28.59% | 27.31% | 30.84% |
| Income Tax | 4.41M | 5.54M | 7.68M | 6.37M | 3.22M | 3.45M | 6.1M | 5.33M | 7.04M | 4.87M | 4.5M | 4.19M | 105K | 1.53M | -1.72M | -3.22M | -2.15M | 1.6M | 6.56M | 8.04M | 6.39M | 4.97M | 4.66M | 2.91M | 3.19M | 3.45M |
| Effective Tax Rate % | 26.4% | 27.25% | 27.95% | 28.89% | 24.16% | 27.8% | 28.67% | 27.56% | 44.89% | 39.73% | 39.77% | 40.28% | 1.42% | 20.17% | 13.69% | 42.01% | 32.15% | 28.28% | 36.82% | 37.56% | 36.73% | 37.14% | 37.7% | 29.88% | 33.96% | 35.54% |
| Net Income | 12.29M | 14.78M | 19.8M | 15.69M | 10.1M | 8.96M | 15.17M | 14.02M | 8.64M | 7.38M | 6.81M | 6.22M | 7.27M | 6.07M | -10.81M | -4.44M | -4.54M | 4.07M | 11.26M | 13.36M | 11.01M | 8.4M | 7.71M | 6.83M | 6.19M | 6.26M |
| Net Margin % | 18.65% | 22.58% | 30.02% | 30.76% | 24.61% | 22.59% | 32.3% | 34.06% | 23.25% | 21.73% | 21.14% | 20.66% | 26.47% | 19.35% | -33.11% | -11.55% | -10.81% | 7.61% | 16.85% | 23.69% | 24.37% | 23.6% | 23.21% | 20.05% | 18.03% | 19.88% |
| Net Income Growth % | -16.88% | -25.32% | 26.2% | 55.34% | 12.69% | -40.94% | 8.24% | 62.23% | 16.99% | 8.44% | 9.56% | -14.49% | 19.77% | 156.13% | -143.57% | 2.16% | -211.47% | -63.84% | -15.74% | 21.37% | 30.97% | 9.07% | 12.78% | 10.33% | -1.02% | - |
| Net Income (Continuing) | 12.29M | 14.78M | 19.8M | 15.69M | 10.1M | 8.96M | 15.17M | 14.02M | 8.64M | 7.38M | 6.81M | 6.22M | 7.27M | 6.07M | -10.81M | -4.44M | -4.54M | 4.07M | 11.26M | 13.36M | 11.01M | 8.4M | 7.71M | 6.83M | 6.19M | 6.26M |
| EPS (Diluted) | 0.70 | 0.86 | 1.16 | 0.92 | 0.59 | 0.53 | 0.89 | 0.83 | 0.51 | 0.44 | 0.40 | 0.36 | 0.43 | 0.36 | -0.64 | -0.17 | -0.27 | 0.24 | 0.66 | 0.83 | 0.68 | 0.52 | 0.49 | 0.44 | 0.39 | 0.40 |
| EPS Growth % | -18.6% | -25.86% | 26.09% | 55.93% | 11.32% | -40.45% | 7.23% | 62.75% | 15.91% | 10% | 11.11% | -16.28% | 19.44% | 156.25% | -276.47% | 37.04% | -212.5% | -63.64% | -20.48% | 22.06% | 30.77% | 6.12% | 11.36% | 12.82% | -2.5% | - |
| EPS (Basic) | 0.71 | 0.86 | 1.16 | 0.92 | 0.59 | 0.53 | 0.90 | 0.83 | 0.51 | 0.44 | 0.40 | 0.36 | 0.43 | 0.36 | -0.64 | -0.17 | -0.27 | 0.24 | 0.66 | 0.83 | 0.68 | 0.53 | 0.50 | 0.45 | 0.40 | 0.41 |
| Diluted Shares Outstanding | 17.25M | 17.2M | 17.13M | 17.06M | 17.03M | 17M | 16.98M | 16.94M | 16.9M | 16.71M | 16.88M | 17.03M | 16.84M | 16.85M | 16.84M | 16.84M | 16.84M | 16.9M | 17.11M | 16.24M | 16.23M | 16.06M | 15.62M | 15.55M | 15.76M | 15.83M |
Regional CRE and Ag concentration
According to the latest quarterly filings, UBFO's net interest income has remained largely range-bound, fluctuating between $11.5 million and $12.4 million over the last ten quarters, suggesting that the bank is struggling to drive meaningful top-line expansion despite a volatile interest rate environment.
The lack of consistent NII growth indicates that the bank's loan portfolio is not repricing effectively against rising funding costs. Investors should monitor whether the bank's reliance on localized agricultural lending limits its ability to capture broader market rate tailwinds.
As reported in financial statements, the bank's net interest margin has remained stubbornly flat at 1.0% for the majority of the last ten quarters, reflecting a structural inability to expand spreads in the current competitive landscape for regional deposits.
This margin stagnation suggests that the bank's cost of funds is rising in lockstep with asset yields, effectively neutralizing any potential for spread expansion. The bank appears to be prioritizing deposit retention over margin growth, which may limit profitability in a higher-for-longer rate environment.
Based on the reported figures, UBFO's efficiency ratio has shown significant volatility, ranging from 37.3% in late 2023 to 54.2% in 2025Q4, which highlights the difficulty of managing a fixed-cost branch network against inconsistent revenue streams in the Central Valley.
The upward trend in the efficiency ratio over the last year suggests that non-interest expenses are consuming a larger portion of revenue. This trend warrants further investigation into whether the bank is facing rising operational costs or if revenue lulls are disproportionately impacting the bottom line.
Data from recent income statements reveals erratic provision for loan loss expenses, including a notable $1.9 million charge in 2025Q2 followed by a $670,000 credit in 2025Q3, indicating significant management uncertainty regarding the underlying credit quality of the agricultural and CRE portfolios.
These large swings in provisioning suggest that the bank's credit model is highly sensitive to the cyclical nature of its regional borrower base. Investors should be cautious, as the volatility in these provisions may mask underlying asset quality deterioration within the bank's specialized loan segments.
Quick answers to the most common questions about buying UBFO stock.
United Security Bancshares (UBFO) is profitable, generating $12.3M in net income for the fiscal year ending 2025 with a net profit margin of 18.6%.
United Security Bancshares (UBFO) reported an operating income of $16.7M, resulting in an operating profit margin of 25.3%. This margin reflects the operational efficiency of the business before interest and taxes.
United Security Bancshares (UBFO) generated $48.3M in gross profit for the year, representing a gross profit margin of 73.3%. This demonstrates the company's core pricing power and production efficiency.