UNITED BANCORP INC /OH/ Goodwill & Intangibles Disclosure
Note 22: Goodwill and Core Deposits
The following table shows the changes in the carrying amount of goodwill for the years ended December 31, 2025 and 2024 (in thousands):
| 2025 | | 2024 | |||
Balance beginning of year | $ | 682 | $ | 682 | ||
Additions from acquisition |
| — |
| — | ||
Balance, end of year | $ | 682 | $ | 682 | ||
Intangible assets in the consolidated balance sheets at December 31, 2025 and 2024 were as follows (in thousands):
2025 | 2024 | |||||||||||||||||
Gross | Gross | |||||||||||||||||
Intangible | Accumulated | Net Intangible | Intangible | Accumulated | Net Intangible | |||||||||||||
| Assets | | Amortization | | Assets | | Assets | | Amortization | | Assets | |||||||
Core deposit intangibles | $ | 1,041 |
| $ | 1,041 |
| $ | — |
| $ | 1,041 |
| $ | 919 |
| $ | 122 | |
As of December 31, 2025 the core deposit intangible is fully amortized.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 18, 2026 | Showing above |
| 2024 | Mar 14, 2025 | |
| 2023 | Mar 20, 2024 | |
| 2022 | Mar 17, 2023 | |
| 2021 | Mar 18, 2022 | |
| 2019 | Mar 20, 2020 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.