United Security Bancshares Inc. reported unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2014. For the quarter, the company reported total interest income of $7,686,000 compared to $8,340,000 a year ago. The decline in interest income was due primarily to a decrease in total loans, offset partially by higher interest income from investment securities, compared with the fourth quarter of 2013. Net interest income was $7,050,000 compared to $7,663,000 a year ago. The decline in net interest income was due to a decrease in loans, combined with a 46 basis point decline in net interest margin, compared with the fourth quarter of 2013. Net interest margin was 5.40% in the fourth quarter of 2014, compared with 5.86% in the fourth quarter of 2013. Income before income taxes was $1,252,000 compared to $1,258,000 a year ago. Net income was $720,000 compared to $955,000 a year ago. Diluted net income per share was $0.02 compared to nil a year ago.

For the year, the company reported total interest income of $31,361,000 compared to $33,636,000 a year ago. Net interest income was $28,808,000 compared to $30,731,000 a year ago. Net interest margin was 5.53% in 2014, compared with 5.95% in 2013. Income before income taxes was $5,378,000 compared to $5,436,000 a year ago. Net income was $3,549,000 compared to $3,927,000 a year ago. Diluted net income per share was $0.03 compared to nil a year ago. The reduction in net income in 2014 was due primarily to approximately $397,000 in non-cash, non-recurring adjustments that increased the provision for income taxes.