Form4 - United Security Bank

 FORM 4

[___] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue.  See Instruction 1(b).

(Print or Type Responses)
  UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF
CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934,
Section 17(a) of the Public Utility Holding Company Act of 1935 or
Section 30(f) of the Investment Company Act of 1940
 
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1. Name and Address of Reporting Person* 2. Issuer Name and Ticker or Trading Symbol 6. Relationship of Reporting Person(s) to Issuer (Check all applicable)
 
  Woods Dennis R.   United Security Bancshares UBFO    X Director     10% Owner


     
  (Last) (First) (Middle) 3. I.R.S. Identification Number
of Reporting Person (voluntary)
4. Statement for Month/Year    X Officer
    (give title below)
     Other
    (specify below)
          01/2003 President and CEO



 
(Street)     5. If Amendment, Date of Original (Month/Year) 7. Individual or Joint/Group Filing
(Check Applicable Line)
     Form filed by One Reporting Person
     Form filed by More than
                  One Reporting Person

  (City) (State) (Zip)              
        Table I — Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned

1. Title of Security
(Instr. 3)
2. Transaction Date
(Month/Day/Year)
2a. Deemed Execution
Date, if any
3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed
of (D) (Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned
at End of Month
(Instr. 3 and 4)
6. Ownership Form:
Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
           
           
              Code              V     Amount (A) or (D) Price            

  Common Stock   01/02/03   01/02/2003 M       22,500    A $6.08   362,450       D    

                              4,935        I    

                                   

                                   

                                   

                                   

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.   (Over)
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).   SEC 1474 (7-97)










FORM 4 (Continued) Table II — Derivative Securities Acquired, Disposed of, or Beneficially Owned
(
e.g., puts, calls, warrants, options, convertible securities)

1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date
(Month/Day/Year)
3a. Deemed
Execution Date
(Month/Day/Year)
4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date (Month/Day/Year)
               

                  Code V   (A) (D)   Date
Exercisable
Expiration Date

Director Stock Option (Right to Buy)   $6.08   01/02/2003   01/02/2003      X     22,500     6/17/00 6/17/06

                                 

                                 

                                 


7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned at End of Month
(Instr. 4)
10. Ownership Form of Derivative Securities Beneficially Owned at End of Month (Instr. 4) 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
 
               
  Title Amount or Number of Shares                

  Common Stock 22,500                

                     

Explaination of Responses: Transactions between filing of this report and previous report (8/2002) include quarterly dividend reinvestment for the purchase of 367 direct shares and 36 indirect shares pursuant to plan exempt under Rule 16a-11.


    /s/ Dennis R. Woods   01/03/2003
**Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).  
**Signature of Reporting Person
 
Date
         
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        Page 2
SEC 1474 (7-97)