SPOKANE, Wash. - United Security Bancorp. completed its initial public offering of a million shares of common stock at a price of $8.25 per share.

The shares will be traded on the Nasdaq National Market under the symbol USBN. All the shares were sold on behalf of the company and none by existing shareholders.

The proceeds of the offering will be used to support the company's growth. It plans to add two bank branches within the next 12 months.

United Security is a $163 million-asset multibank holding company, which owns two banks with a total of eight branches in eastern and south-central Washington communities.

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