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UNITED BANCORP INC /OH/
UBCPCIK 0000731653NasdaqNon-AcceleratedSmaller ReportingState Commercial BanksOhioFY ends Dec 31
Period
FY 2025
Revenue
—
Net Income
$7.75M
Total Assets
$857.45M
Equity
$70.52M
Shares Out
5.76M
Op. Cash Flow
$10.46M
Business
UNITED BANCORP INC /OH/ is a bank holding company that engages in commercial and retail banking through its wholly owned subsidiary, Unified Bank. The company provides deposit products and a broad range of banking and financial services, including demand, savings and time deposits, commercial, real estate and consumer loans, and related banking services. Its operations are conducted as a single banking business segment through a main office, a stand‑alone operations center and multiple branch locations. UNITED BANCORP serves customers across northeastern, eastern, southeastern and south‑central Ohio and the northern panhandle of West Virginia through its branch network and centralized operations.
Summary from filing dated 2025-03-14
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Loans | 31 | 28 | 25 | 21 | 20 | |
| Taxable | 1 | 2 | 3 | 2 | 468,000 | |
| Tax-exempt | 8 | 7 | 6 | 4 | 4 | |
| Federal funds sold | 1 | 1 | 3 | 493,000 | 101,000 | |
| Dividends on Federal Home Loan Bank and other stock | 365,000 | 384,000 | 254,000 | 139,000 | 81,000 | |
| Total interest and dividend income | 41 | 40 | 37 | 28 | 25 | |
| Deposits | 9 | 8 | 6 | 2 | 1 | |
| Borrowings | 6 | 7 | 5 | 2 | 1 | |
| Total interest expense | 15 | 15 | 11 | — | — | |
| Net Interest Income | 26 | 25 | 26 | 24 | 22 | |
| Provision for (reversal of) Credit Loss expense - loans | 624,000 | 429,000 | −454,000 | — | — | |
| Provision for (reversal of) Credit Loss expense - off balance sheet | 50,000 | −130,000 | — | — | — | |
| Provision for (reversal of) credit loss expense | 674,000 | 299,000 | −454,000 | — | — | |
| Net Interest Income After Provision for (reversal of) Credit Losses | 26 | 25 | 26 | 25 | 23 | |
| Customer service fees | 3 | 3 | 3 | 3 | 3 | |
| Net gains on loan sales | 501,000 | 482,000 | 29,000 | 36,000 | 272,000 | |
| Earnings on bank-owned life insurance | 768,000 | 761,000 | 725,000 | 708,000 | 802,000 | |
| Realized gain (loss) on sale of available-for-sale securities, net | 841,000 | −116,000 | — | — | — | |
| Other | 695,000 | 340,000 | 360,000 | 361,000 | 530,000 | |
| Total noninterest income | 6 | 4 | 4 | 4 | 6 | |
| Salaries and employee benefits | 12 | 10 | 10 | 10 | 10 | |
| Net occupancy and equipment expense | 3 | 2 | 2 | 2 | 2 | |
| Professional fees | 2 | 2 | 1 | 1 | 1 | |
| Data processing and related electronic services | 2 | 2 | 2 | — | — | |
| Insurance | 664,000 | 622,000 | 623,000 | 568,000 | 531,000 | |
| Deposit insurance premiums | 377,000 | 372,000 | 375,000 | 198,000 | 195,000 | |
| Franchise and other taxes | 502,000 | 585,000 | 555,000 | 562,000 | 551,000 | |
| Advertising expense | 529,000 | 425,000 | 361,000 | 346,000 | 380,000 | |
| Printing and office supplies | 125,000 | 112,000 | 113,000 | 110,000 | 115,000 | |
| Amortization of intangible assets | 122,000 | 150,000 | 150,000 | 150,000 | 150,000 | |
| Other real estate owned valuation allowance and expenses | 771,000 | 9,000 | — | — | — | |
| Other | 3 | 3 | — | — | — | |
| Total noninterest expense | 24 | 22 | 21 | 20 | 18 | |
| Income Before Federal Income Taxes | 8 | 7 | 9 | 10 | 11 | |
| (Credit) Provision for Federal Income Taxes | −86,000 | −107,000 | 541,000 | 879,000 | 1 | |
| Net Income | 8 | 7 | 9 | 9 | 9 | |
| Basic Earnings Per Share (in dollars per share) | 1.34 | 1.27 | 1.57 | 1.5 | 1.62 | |
| Diluted Earnings Per Share (in dollars per share) | 1.34 | 1.27 | 1.57 | 1.5 | 1.62 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and due from banks | 9 | 8 | 7 | 8 | 8 | |
| Interest-bearing demand deposits | 37 | 11 | 33 | 22 | 75 | |
| Cash and cash equivalents | 47 | 20 | 41 | 30 | 83 | |
| Available-for-sale securities, amortized cost of $240,793 and $252,761 at December 31, 2025 and 2024 | 234 | 241 | 243 | 218 | — | |
| Loans, net of allowance for credit losses of $4,261 and $4,026 at December 31, 2025 and 2024, respectively | 487 | 487 | 479 | — | — | |
| Premises and equipment | 34 | 24 | 15 | 12 | 13 | |
| Federal Home Loan Bank stock | 4 | 4 | 4 | 2 | 4 | |
| Foreclosed assets held for sale, net | 3 | 3 | 3 | 4 | 415,000 | |
| Core deposit intangible assets | — | 122,000 | 260,000 | 410,000 | 560,000 | |
| Goodwill | 682,000 | 682,000 | 682,000 | 682,000 | 682,000 | |
| Accrued interest receivable | 4 | 4 | 4 | 3 | 2 | |
| Deferred federal income tax | 3 | 4 | 2 | 2 | 0 | |
| Bank-owned life insurance | 31 | 20 | 19 | 19 | 19 | |
| Other assets | 10 | 9 | 7 | 7 | 5 | |
| Total Assets | 857 | 817 | 819 | 757 | 724 | |
| Demand | 335 | 321 | 339 | 402 | 408 | |
| Savings | 124 | 125 | 131 | 146 | 141 | |
| Time | 182 | 168 | 151 | 102 | 56 | |
| Total deposits | 641 | 613 | 621 | 650 | 605 | |
| Securities sold under repurchase agreements | 29 | 31 | 27 | 18 | 16 | |
| Subordinated debentures | 24 | 24 | 24 | 24 | 24 | |
| Advances Federal Home Loan Bank | 75 | 75 | 75 | 0 | — | |
| Lease liability - finance lease | 3 | 3 | 3 | 0 | — | |
| Interest payable and other liabilities | 14 | 7 | 6 | 6 | 7 | |
| Total liabilities | 787 | 753 | 756 | 698 | 653 | |
| Preferred stock, no par value, authorized 2,000,000 shares; no shares issued | — | — | — | — | — | |
| Common stock, $1 par value; authorized 10,000,000 shares; issued 2025 - 6,213,141 shares, 2024 - 6,203,141 shares; outstanding 2025 - 5,756,852 shares, 2024 - 5,793,611 shares | 6 | 6 | 6 | 6 | 6 | |
| Additional paid-in capital | 27 | 26 | 26 | 25 | 24 | |
| Retained earnings | 49 | 46 | 44 | 42 | 38 | |
| Stock held by deferred compensation plan; 2025 - 194,971 shares, 2024 - 172,667 shares | −2 | −2 | −2 | −2 | −2 | |
| Accumulated other comprehensive loss | −5 | −10 | −7 | −9 | 7 | |
| Treasury stock, at cost 2025 - 261,318 shares, 2024 - 236,863 shares | −4 | −3 | −3 | −2 | −1 | |
| Total stockholders' equity | 71 | 63 | 64 | 60 | 72 | |
| Total liabilities and stockholders' equity | 857 | 817 | 819 | 757 | 724 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Net income | 8 | 7 | — | — | — | |
| Depreciation and amortization | 1 | 1 | 997,000 | 1 | 1 | |
| Amortization of premiums and discounts on securities-net | 422,000 | 435,000 | 512,000 | 533,000 | — | |
| Amortization of intangible assets | 122,000 | 150,000 | 150,000 | 150,000 | 150,000 | |
| Deferred income taxes | −633,000 | −904,000 | 13,000 | 342,000 | 112,000 | |
| Originations of loans held for sale | −17 | −16 | −615,000 | −2 | −12 | |
| Proceeds from sale of loans held for sale | 17 | 16 | 644,000 | 2 | 12 | |
| Expense related to share-based compensation plans | 357,000 | 884,000 | 658,000 | 1 | 414,000 | |
| Net loss (gain) or on sale or write-down of foreclosed assets and other repossessed assets | 771,000 | 7,000 | 12,000 | 23,000 | — | |
| Increase in cash surrender value of bank-owned life insurance | −401,000 | −429,000 | −422,000 | −191,000 | −441,000 | |
| Amortization of debt issuance costs | 62,000 | 61,000 | 61,000 | 61,000 | 61,000 | |
| Accrued interest receivable | 370,000 | −254,000 | −695,000 | −1 | 556,000 | |
| Other assets | −349,000 | −2 | −288,000 | −824,000 | −1 | |
| Interest payable and other liabilities | 923,000 | 2 | −31,000 | −275,000 | 179,000 | |
| Net cash provided by operating activities | 10 | 8 | 9 | 8 | 8 | |
| Purchases of available-for-sale securities | −36 | −46 | −26 | −100 | −24 | |
| Sales of available-for-sale securities | 49 | 27 | 0 | 0 | 13 | |
| Maturities, prepayments and calls | 6 | 17 | 2 | 6 | — | |
| Net change in loans | −491,000 | −8 | −22 | −10 | −11 | |
| Purchase of Federal Home Loan Bank Stock | −4,000 | −47,000 | −3 | — | — | |
| Purchase of bank-owned life insurance | −11 | — | — | — | −259,000 | |
| Purchases of premises and equipment, net | −12 | −10 | −1 | −511,000 | −777,000 | |
| Proceeds from sale of premises and equipment | 56,000 | — | 9,000 | 111,000 | 620,000 | |
| Proceeds from sales of foreclosed assets | 67,000 | 61,000 | 133,000 | 156,000 | 451,000 | |
| Net cash used in investing activities | −5 | −19 | −48 | −103 | −1 | |
| Net increase (decrease) in deposits | 28 | −8 | −28 | 45 | 26 | |
| Net change in securities sold under repurchase agreements | −1 | 4 | 9 | 2 | 3 | |
| Repurchase of common stock | −317,000 | −687,000 | −733,000 | −767,000 | −72,000 | |
| Finance lease payments | −1,000 | −93,000 | — | — | — | |
| Cash dividends paid | −5 | −5 | −5 | −5 | −4 | |
| Net cash provided (used in) by financing activities | 21 | −10 | 50 | 42 | 24 | |
| Increase (Decrease) in Cash and Cash Equivalents | 27 | −21 | 11 | −53 | 31 | |
| Interest paid on deposits and borrowings | 15 | 15 | 11 | 3 | 2 | |
| Federal income taxes paid | 182,000 | 102,000 | — | 230,000 | 710,000 | |
| Transfers from loans to foreclosed assets held for sale | 15,000 | 54,000 | 33,000 | 3 | 70,000 |
Filings
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