ITEM 2.02 RESULTS OF OPERATIONS AND FINANCIAL CONDITION
On January 26, 2023, the Company issued a press release announcing results for
the quarter and year ended December 31, 2022 (the "Press Release"). A copy of
the Press Release is furnished as Exhibit 99.1 and incorporated herein by
reference. The Press Release contains the non-GAAP measure Core Net Income. The
Company believes that the presentation of that non-GAAP measure provides useful
information for the understanding of its ongoing operations and, thereby,
enhances an investor's overall understanding of the Company's current financial
performance relative to past performance and provides, along with the nearest
GAAP measures, a baseline for modeling future expectations. The non-GAAP measure
is reconciled to the comparable GAAP financial measure in the financial tables
within the Press Release. The Company cautions that the non-GAAP measure should
be considered in addition to, but not as a substitute for, the Company's
reported GAAP results. Additionally, the Company notes that there can be no
assurance that the above referenced non-GAAP financial measure is comparable to
similarly titled financial measures used by other companies.
The information in Item 2.02 of this Current Report on Form 8-K and the Press
Release attached hereto as Exhibit 99.1 shall not be deemed "filed" for purposes
of Section 18 of the Securities Exchange Act of 1934, as amended, nor shall it
be deemed incorporated by reference in any filing under the Securities Act of
1933, as amended, except as shall be expressly set forth by specific reference
in such filing.
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS.
(d) Exhibits.
EXHIBIT #
99.1 Press release of United Security Bancshares dated January 26, 2023
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