CUSIP No. 911460103 13GPage 1 of 5 Pages
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
Under the Securities Exchange Act of 1934
United Security Bancshares
(Name of Issuer)
Common Stock, no par value
(Title of Class of Securities)
911460103
(CUSIP Number)
December 31, 2007
(Date of Event Which Requires Filing of this Statement)
Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
[ X ]Rule 13d-1(b)
[ ]Rule 13d-1(c)
[ ]Rule 13d-1(d)
The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).
CUSIP No. 911460103 13GPage 2 of 5 Pages
|
|
1. |
Name of Reporting Persons. |
I.R.S. Identification No. of above persons (entities only).
Delaware Charter Guarantee & Trust Company dba Principal Trust Company as Trustee for the United Security Bank Employee Stock Ownership Plan and the United Security Bank Cash or Deferred Stock Ownership Plan, IRS No. 51-0099493.
-----------------------------------------------------------------------------------------------------------------------------------------------------
|
|
2. |
Check the Appropriate Box if a Member of a Group: |
|
|
(a) [ |
] |
|
|
(b) [ |
] |
-----------------------------------------------------------------------------------------------------------------------------------------------------
|
|
3. |
SEC Use Only |
-----------------------------------------------------------------------------------------------------------------------------------------------------
|
|
4. |
Citizenship or Place of Organization: |
Delaware
-----------------------------------------------------------------------------------------------------------------------------------------------------
Number of Shares Beneficially Owned by Each Reporting Person With:
|
|
5. |
Sole Voting Power: |
0
----------------------------------------------------------------------------------------------------------
|
|
6. |
Shared Voting Power: |
|
804,312 |
|
----------------------------------------------------------------------------------------------------------
|
|
7. |
Sole Dispositive Power: |
0
----------------------------------------------------------------------------------------------------------
|
|
8. |
Shared Dispositive Power: |
804,312
-----------------------------------------------------------------------------------------------------------------------------------------------------
|
|
9. |
Aggregate Amount Beneficially owned by Each Reporting Person |
804,312
-----------------------------------------------------------------------------------------------------------------------------------------------------
|
|
10. |
Check if Aggregate Amount in Row (9) Excludes Certain Shares: |
|
[ ] |
|
|
-----------------------------------------------------------------------------------------------------------------------------------------------------
|
|
11. |
Percent of Class Represented by Amount in Row (9): |
6.78%
-----------------------------------------------------------------------------------------------------------------------------------------------------
|
|
12. |
Type of Reporting Person: |
EP
-----------------------------------------------------------------------------------------------------------------------------------------------------
CUSIP No. 911460103 13GPage 3 of 5 Pages
Item 1.
|
|
(a) |
Name of Issuer: |
United Security Bank |
|
|
(b) |
Address of Issuer’s Principal Executive Offices: |
2126 Inyo Street |
Fresno, CA 93721-2611
Item 2.
|
(a) |
– (c) Name, Principal Business Address and Citizenship of Person Filing: |
Delaware Charter Guarantee & Trust Company dba Principal Trust Company as Trustee for the United Security Bank Employee Stock Ownership Plan and the United Security Bank Cash or Deferred Stock Ownership Plan
1013 Centre Road
Wilmington, Delaware 19805
|
|
Citizenship: |
Delaware |
|
|
(d) |
Title of Class of Securities: |
Common Stock, no par value |
|
|
(e) |
CUSIP Number: |
911460103 |
Item 3. If this statement is filed pursuant to Rule 13D-1(b) or 13D-2(b) or (c), check whether the person filing is a:
|
(f) |
[ X ] An employee benefit plan or endowment fund in accordance with Rule 13d-1(b)(1)(ii)(F); |
Item 4. Ownership - Provide the following information regarding the aggregate number and percentage of the class of securities of the issuer identified in Item 1.
|
(a) |
The United Security Bank Employee Stock Ownership Plan (“ESOP Plan”) and the United Security Bank Cash or Deferred Stock Ownership Plan (“DSO Plan”) (collectively, the “Plans”) are each subject to the Employee Retirement Income Security Act of 1974 (“ERISA”). Delaware Charter Guarantee & Trust Company dba Principal Trust Company acts as the Trustee for the ESOP Plan Trust and the DSO Plan Trust. As of December 31, 2007, the ESOP Plan Trust held 552,688 shares of the Issuer’s common stock and the DSO Plan Trust held 251,624 shares of the Issuer’s common stock for an aggregate of 804,312 shares of the Issuer’s common stock. The securities reported include all shares held of record by the Trustee as trustee of the Trusts. The Trustee follows the directions of the Issuer and/or Plan participants with respect to voting and disposition of shares. The Trustee, however, is subject to fiduciary duties under ERISA. The Trustee disclaims beneficial ownership of the shares of common stock that are the subject of this Schedule 13G. |
|
(b) |
The 804,312 shares of common stock represent 6.78% of the Issuer’s outstanding shares of common stock. The percent of class is based on shares outstanding as of December 31, 2007, as provided by the Issuer. |
CUSIP No. 911460103 13GPage 4 of 5 Pages
|
(c) |
Number of shares as to which such person has: |
|
|
(i) |
Sole power to vote or direct the vote: 0 |
|
|
(ii) |
Shared power to vote or direct the vote: 804,312 |
|
|
(iii) |
Sole power to dispose or direct the disposition of: 0 |
|
|
(iv) |
Shared power to dispose or direct the disposition of: 804,312 |
Item 5. Ownership of Five Percent or Less of Class
Not Applicable
Item 6. Ownership of More Than Five Percent on Behalf of Another Person
Not Applicable
Item 7. Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company
Not Applicable
Item 8. Identification and Classification of Members of the Group
Not Applicable
Item 9. Notice of Dissolution of Group
Not Applicable
Item 10. Certification
By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of having or influencing the control of the issuer of the securities and are not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.
CUSIP No. 911460103 13GPage 5 of 5 Pages
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
|
Delaware Charter Guarantee & Trust Company |
/s/ Jill W. Simonds_____________________
Jill W. Simonds
Vice President of Operations
February 12, 2008