UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 10-K/A
(Mark one)
[X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934 [FEE REQUIRED]
For the fiscal year ended December 31, 1996
OR
[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF
THE
SECURITIES EXCHANGE ACT OF 1934 [NO FEE REQUIRED]
For the transition period from ____________ to ___________
Commission File Number 0-14549
UNITED SECURITY BANCSHARES, INC.
(Exact name of registrant as specified in its charter)
Alabama 63-0843362
(State or other jurisdiction of (I.R.S. Employer
incorporation or organization) Identification No.)
131 West Front Street
Post Office Box 249
Thomasville, Alabama 36784
(Address of principal executive offices) (Zip Code)
Registrant's telephone number, including area code (334) 636-5424
Securities registered pursuant to Section 12(b) of the Act:
Title of each class Name of each exchange on which registered
None None
Securities registered pursuant to Section 12(g) of the Act:
Common Stock, Par Value $0.01 per share (Title of class)
Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months (or
for such shorter period that the registrant was required to file
such reports) and (2) has been subject to such filing requirements
for the past 90 days. Yes X . No .
Shares of common stock ($0.01 par value) outstanding as of
December 31, 1996: 2,137,960.
The aggregate market value of the voting stock held by
non-affiliates of the Registrant, based on the sales price of
shares sold in a private transaction on January 6, 1997, is $15.50.
(There is no established public trading market for the Registrant's
voting stock.)
DOCUMENTS INCORPORATED BY REFERENCE
Portions of the Company's definitive proxy statement for the
1996 annual meeting of its shareholders are incorporated by
reference into Part III.
Total Number of Pages:
Exhibit Index at Page:
This amendment is being filed to include Exhibit 27 omitted from
the original filing dated March 28, 1997.
Item 14. Exhibits, Financial Statement Schedules, and Reports on
Form 8-K.
(a)1. Financial Statements
Report of Independent Public Accountants.
Consolidated Statements of Condition, December
31, 1996 and 1995.
Consolidated Statements of Shareholders'
Equity, December 31, 1996, 1995, and 1994.
Consolidated Statements of Income, December
31, 1996, 1995, and 1994.
Consolidated Statements of Cash Flows,
December 31, 1996, 1995, and 1994.
Notes to Consolidated Financial Statements.
(a)2. Financial Statements Schedules
Included in Part II of this report:
The financial statement schedules required to
be included pursuant to this Item are not
included herein because they are not
applicable or the required information is
shown in the financial statements or notes
thereto, which are included at Part II, Item
8, of this report.
(a)3. Exhibits
(3)(a) Articles of Incorporation of Bancshares,
incorporated herein by reference to the
Exhibits to Form 10-K for the year ended
December 31, 1987.
(3)(b) Articles of Amendment to the Articles of
Incorporation of Bancshares incorporated
herein by reference to the Exhibits to Form
10-K for the year ended December 31, 1992.
(3)(c) Amended and Restated Articles of Incorporation
of Bancshares incorporated herein by reference
to the Exhibits to Form 10-Q for the Quarter
ended June 30, 1995.
(3)(d) Bylaws of Bancshares, incorporated herein by
reference to the Exhibits to Form 10-K for the
year ended December 31, 1987.
(10)(a) The United Security Bancshares, Inc. Employee
Stock Ownership Plan, dated January 1, 1992,
incorporated herein by reference to the
Exhibits to Form 10-K for the year ended
December 31, 1992.
(10)(b) Employment Agreement dated November 1, 1995,
between Bancshares and Jack M. Wainwright,
III, incorporated by reference to Exhibit to
Form 10-K for the year ended December 31,
1994.
(10)(c) Form of Indemnification between Bancshares and
its directors, incorporated herein by
reference to the Exhibits to Form 10-K for the
year ended December 31, 1994.
(13) Bancshares' definitive proxy statement for
1995 annual meeting of shareholders, to be
filed within 120 days after the end of the
fiscal year ended December 31, 1995, furnished
for the information of the Commission.
(22) List of Subsidiaries of Bancshares.
(27) Financial Data Schedule
(b) Reports on Form 8-K
No report on Form 8-K was filed during the last quarter
of the year ended December 31, 1996.
SIGNATURES
Pursuant to the requirements of Section 13 or 15(d) of the
Securities Exchange Act of 1934, the registrant has duly caused
this amendment to be signed on its behalf by the undersigned,
thereunto duly authorized.
UNITED SECURITY BANCSHARES, INC.
By:/s/ Jack M. Wainwright, III May 8, 1997
Jack M. Wainwright, III
Its President and Chief
Executive Officer
Pursuant to the requirements of the Securities Exchange Act of
1934, this report has been signed below by the following persons on
behalf of the registrant and in the capacities and on the dates
indicated.
Signature Title Date
/s/ Jack M. Wainwright, III President, Chief May 8, 1997
Jack M. Wainwright, III Executive Officer, and
Director (Principal
Executive Officer)
/s/ Larry M. Sellers Treasurer May 8, 1997
Larry M. Sellers (Principal Financial
Officer,Principal
Accounting Officer)
/s/ Gerald P. Corgill Director May 8, 1997
Gerald P. Corgill
/s/ Roy G. Cowan Director May 8, 1997
Roy G. Cowan
___________________ Director May ___, 1997
William G. Harrison
/s/ Hardie B. Kimbrough Director May 8, 1997
Hardie B. Kimbrough
/s/ James L. Miller Director May 8, 1997
James L. Miller
/s/ D. C. Nichols Director May 8, 1997
D. C. Nichols
________________ Director May ___, 1997
Harold H. Spinks
/s/ James C. Stanley Director May 8, 1997
James C. Stanley
_________________ Director May ___, 1997
Howard M. Whitted
<TABLE> <S> <C>
<ARTICLE> 9
<LEGEND>
See Notes to Consolidated Financial Statements
</LEGEND>
<S> <C>
<PERIOD-TYPE> 12-MOS
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<PERIOD-END> DEC-31-1996
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