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EX-99.1 - EXHIBIT 99.1 - FIRST US BANCSHARES INCa50636577ex99-1.htm


UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of report (Date of earliest event reported):  May 16, 2013



United Security Bancshares, Inc.

(Exact Name of Registrant as Specified in Charter)

Delaware

0-14549

63-0843362

(State or Other Jurisdiction

of Incorporation)

(Commission File Number)

(IRS Employer

Identification Number)


131 West Front Street
Post Office Box 249
Thomasville, Alabama 36784
(Address of Principal Executive Offices, including Zip Code)

Registrant’s telephone number, including area code: (334) 636-5424

N/A
(Former Name or Former Address, if Changed Since Last Report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))


Item 5.07.    Submission of Matters to a Vote of Security Holders.

The Annual Meeting of Shareholders (the “Annual Meeting”) of United Security Bancshares, Inc. (the “Company”) was held on May 16, 2013.  Summarized below are descriptions of the matters voted on at the Annual Meeting and the final results of such voting:

Proposal 1 – Election of Directors.  The shareholders elected each of the director nominees to serve as directors during the ensuing year. The voting for the directors at the Annual Meeting was as follows:

Name

Votes For

Withhold Authority

Broker Non-Votes

 
Andrew C. Bearden, Jr. 3,446,451 259,463 1,051,345
 
Linda H. Breedlove 3,341,432 364,482 1,051,345
 
Gerald P. Corgill 3,512,444 193,470 1,051,345
 
John C. Gordon 3,345,494 360,420 1,051,345
 
William G. Harrison 3,309,852 396,062 1,051,345
 
James F. House 3,580,626 125,288 1,051,345
 
J. Lee McPhearson 3,399,080 306,834 1,051,345
 
Jack W. Meigs 3,394,090 311,824 1,051,345
 
A. J. Strickland, III 3,450,280 255,634 1,051,345
 
Howard M. Whitted 3,351,131 354,783 1,051,345
 
Bruce N. Wilson 3,350,631 355,283 1,051,345

Proposal 2 – Approval of the United Security Bancshares, Inc. 2013 Incentive Plan.  The shareholders approved the United Security Bancshares, Inc. 2013 Incentive Plan.   The result of the vote taken at the Annual Meeting was as follows:

Votes For

Votes Against

Abstain

Broker Non-Votes

 
3,101,652 392,697 211,565 1,051,345

Proposal 3 – Ratification of the Appointment of Carr, Riggs & Ingram, LLC as the Company’s Independent Registered Public Accountants for the Year Ending December 31, 2013.  The shareholders ratified the appointment of Carr, Riggs & Ingram, LLC as the Company’s independent registered public accountants for the year ending December 31, 2013.  The result of the vote taken at the Annual Meeting was as follows:

Votes For

Votes Against

Abstain

 
4,541,148 58,970 157,141


Proposal 4 – Advisory Approval of Executive Compensation.  The shareholders adopted a resolution approving, on an advisory basis, the compensation paid to the Company’s named executive officers, as disclosed in the Company’s 2013 proxy statement pursuant to the compensation disclosure rules of the Securities and Exchange Commission.  The result of the vote taken at the Annual Meeting was as follows:

Votes For

Votes Against

Abstain

Broker Non-Votes

 
3,038,675 439,922 227,317 1,051,345

Item 8.01    Other Events.

On May 17, 2013, the Company issued a press release announcing the election of Andrew C. Bearden, Jr. and John C. Gordon as Chairperson and Vice-Chairperson, respectively, of the Board of Directors of the Company and the Company’s banking subsidiary, First United Security Bank.  A copy of the press release is attached hereto as Exhibit 99.1.

Item 9.01    Financial Statements and Exhibits.

(d)     Exhibits

Exhibit No.         Exhibit

99.1                     Press Release dated May 17, 2013.


SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated:

May 20, 2013

 

UNITED SECURITY BANCSHARES, INC.

 

 

By:

/s/ Beverly J. Dozier

 

Name:

Beverly J. Dozier

Vice President, Secretary and Assistant Treasurer