EXHIBIT 99 PRESS RELEASE United Bancorp, Inc. 201 South 4th at Hickory Street, Martins Ferry, OH 43935 Contacts: Scott A. Everson Randall M. Greenwood (740) 633-0445, ext. 6154 (740) 633-0445, ext. 6181 Lastly, Greenwood stated, "Even with many of our borrowers experiencing rate resets to levels that may be double their previous rates on their loans in this higher-rate environment and with the economic uncertainty that continues, we have successfully maintained credit-related strength and stability within o ...

Zacks Investment Research has recently initiated coverage of United Bancorp, Inc. (UBCP) with a Neutral recommendation, reflecting a balanced view of the company’s strengths and challenges. The regional bank, headquartered in Martins Ferry, OH, offers a mix of income stability, credit discipline, and strategic positioning, but faces near-term pressures that temper its growth outlook.United Bancorp stands out with a forward dividend yield of 5.51%, supported by a consistent and rising payout. The company dec ...

Financial Performance - Net income for the first quarter of 2025 was $1,872 thousand, a decrease of 6.06% compared to $1,993 thousand in the same period of 2024[9]. - Net income for the three months ended March 31, 2025, was $1.872 million, resulting in basic and diluted earnings per share of $0.32[45]. - Net income for the three months ended March 31, 2025, was $1,903,000, resulting in basic and diluted earnings per share of $0.35[47]. - United Bancorp, Inc. reported net income of $1,872,000 and diluted earnings per share of $0.32 for Q1 2025, representing decreases of 6.1% and 8.6% year-over-year, respectively[144][145]. - Net income for Q1 2025 was reported at $0.32 per diluted share, a decrease of 8.6% from $0.35 in Q1 2024[172]. Asset and Deposit Growth - Total assets increased to $830,681 thousand as of March 31, 2025, up from $816,656 thousand at December 31, 2024, representing a growth of 1.54%[6]. - Total deposits rose to $624,081 thousand as of March 31, 2025, an increase of 1.20% from $613,494 thousand at the end of 2024[6]. - Total core deposits increased by approximately $5.3 million, or 2.9%, from December 31, 2024[167]. Loan Portfolio - Total gross loans as of March 31, 2025, amounted to $496,866,000, an increase from $490,971,000 as of December 31, 2024[60]. - The total recorded investment in loans as of March 31, 2025, was $490,751,000, indicating a stable loan portfolio[69]. - The total past due loans amounted to $1,025,000 as of March 31, 2025, with $158,000 past due for 30-59 days, $75,000 for 60-89 days, and $56,000 for more than 90 days[87]. - The total past due and accruing loans for commercial and industrial as of March 31, 2025, was $350,000, with total loans amounting to $99,571,000[85]. - The total past due and accruing loans for residential loans was $737,000, with total loans amounting to $92,709,000[85]. - The total past due and accruing loans for commercial real estate was $1,673,000, with total loans amounting to $296,493,000[85]. Income and Expenses - Noninterest income increased to $1,281 thousand in Q1 2025, up 47.83% from $866 thousand in Q1 2024[9]. - Total noninterest expense increased to $5,586 thousand in Q1 2025, up from $4,838 thousand in Q1 2024, reflecting a rise of 15.43%[9]. - The total cash dividend paid in Q1 2025 was $0.3575, reflecting a 10.9% increase compared to Q1 2024[152]. - Noninterest income increased by $415,000 year-over-year, partly due to a $143,000 gain on the sale of available-for-sale securities in Q1 2025[175]. - Noninterest expense rose by $748,000 or 15.5% year-over-year, influenced by the approval of an Employee Retention Credit of $1,080,000 in Q1 2024[176]. Credit Losses and Provisions - The provision for credit loss expense was $96 thousand in Q1 2025, compared to no provision in Q1 2024[9]. - The allowance for credit losses (ACL) is established to present the net amount expected to be collected on loans, with significant changes possible from period to period[36][37]. - The allowance for credit losses increased to $4,095,000 as of March 31, 2025, compared to $4,026,000 at the end of 2024[64]. - The total allowance for credit losses to total loans was 0.82% as of March 31, 2025, indicating strong coverage and capitalized status[148]. - The allowance for credit losses totaled $4.1 million, representing 0.82% of total loans as of March 31, 2025[165]. Market Presence and Operations - The Company operates primarily in Ohio and West Virginia, with banking operations aggregated in one reportable operating segment[19]. - The Company has branches in multiple locations across Ohio and West Virginia, enhancing its market presence[19]. - The Company’s primary deposit products include checking, savings, and term certificate accounts, while primary lending products consist of residential real estate, commercial and industrial loans[20]. Investment and Securities - The fair value of available-for-sale securities was $221,672,000 as of March 31, 2025, representing 96% of the Company's available-for-sale investment portfolio[54]. - The total fair value of investments in available-for-sale securities decreased from $208.8 million at December 31, 2024, to $221.7 million at March 31, 2025[54]. - The net unrealized loss on available-for-sale securities was $(15,212,000) as of March 31, 2025, compared to $(12,130,000) at December 31, 2024[98]. Future Outlook and Strategy - The Company aims to grow to an asset threshold of $1.0 billion or greater in a prudent and profitable manner[153]. - The company is investing in technology and digital transformation, including the implementation of artificial intelligence to enhance customer service[151]. - The company has undertaken several transformative projects, including the construction of a new banking center in Wheeling, West Virginia, scheduled to open in late Q3 2025[149][151]. Risk Management - The company is cautiously optimistic about managing economic risks, supported by prudent underwriting policies and capital levels, but may need to make additional credit loss provisions due to economic conditions[184]. - The company utilizes a loan risk grading system with categories including pass, special mention, substandard, and doubtful, which are updated periodically[83]. - The company has not made significant changes to its loan risk grading system or allowance for credit losses methodology in the past year[83].

Financial Performance - United Bancorp, Inc. reported diluted earnings per share of $0.32 and net income of $1,872,000 for Q1 2025, representing decreases of 6.1% and 8.6% year-over-year, respectively[2]. - Net income decreased by 6.07% to $1,871,872 compared to $1,992,911 in the prior year[8]. - Return on average assets (ROA) decreased to 0.91% from 0.97%[9]. Income and Revenue - The company's net interest income increased by $131,000, or 2.2%, year-over-year, with a net interest margin improvement of 14 basis points to 3.60%[3]. - Interest income on loans increased by 7.26% to $7,104,476 compared to $6,623,848 in the previous year[8]. - Total noninterest income rose significantly by 47.91% to $1,281,410 from $866,324 year-over-year[8]. Assets and Loans - Total assets decreased by $3.3 million, or 0.40%, to $830.7 million as of March 31, 2025, while gross loans outstanding increased by $16.6 million, or 3.5%[3]. - As of March 31, 2025, United Bancorp, Inc. has total assets of $831.0 million and total shareholders' equity of $60.8 million[5]. - Total assets decreased by 0.40% to $830,681,164 from $834,026,953[8]. Credit and Risk Management - The total allowance for credit losses to total loans was 0.82%, reflecting a one basis point increase year-over-year, with a total allowance for credit losses to nonaccrual loans at 211%[3]. - The provision for credit losses was $96,000, indicating a proactive approach to credit risk management[8]. - Nonaccrual loans surged by 305.79% to $1,937,543 from $477,474 year-over-year[8]. Dividends and Shareholder Returns - The company paid a total cash dividend of $0.3575 for Q1 2025, a 10.9% increase from the previous year, resulting in a total dividend yield of 6.7%[5]. - Cash dividends paid increased by 10.85% to $0.3575 per share from $0.3225[8]. Growth and Expansion - A new regional banking center in Wheeling, West Virginia is scheduled to open in late Q3 2025, aimed at driving growth in the loan portfolio[4]. - The company aims to grow total assets to $1.0 billion or greater, adopting a more offensive growth strategy after a period of conservative management[4]. Technology and Innovation - Investment in technology and digital transformation is ongoing, including the implementation of artificial intelligence to improve customer service[4]. - The Unified Mortgage Division has contributed to higher fee income, with plans for further scaling to enhance profitability[4]. Deposits - Total deposits slightly declined by 0.27% to $624,081,193 from $625,750,186[9]. Market Valuation - The market price to book value ratio decreased to 132% from 136%[8].

Regulatory Environment - Unified is subject to supervision and regulation by the Federal Reserve, FDIC, and Ohio Division of Financial Institutions, which ensures financial safety and soundness [13]. - The Dodd-Frank Act created new restrictions and expanded regulatory oversight for financial institutions, impacting Unified's operations [22]. - The Dodd-Frank Act revised the FDIC's management of the Deposit Insurance Fund, implementing new rules regarding assessments and dividends [34]. - The Company is subject to various federal regulations regarding capital maintenance, affiliate transactions, and loan limitations [51]. - The Company must obtain prior approval from the Federal Reserve for acquisitions exceeding five percent of voting shares [24]. - The Company must obtain prior approval from the ODFI before paying dividends exceeding certain limits based on undivided profits and net income [38]. - The FDIC may terminate deposit insurance if Unified engages in unsafe practices or is in an unsafe condition [33]. - Unified is required to pay deposit insurance premium assessments to the FDIC, which uses a risk-based assessment system [32]. - Unified is not a financial holding company and has no current intention of making such an election [26]. Financial Performance - Total interest and dividend income increased by $9,594 thousand, with a significant contribution from loans, which rose by $4,508 thousand [63]. - Net interest income for 2023 was $27,424 thousand, compared to $25,571 thousand in 2022, reflecting a growth of 7.25% [63]. - Total assets increased to $802,054 thousand in 2023 from $735,775 thousand in 2022, representing an increase of 9.0% [61]. - The company reported a net interest spread of 3.28% for 2023, down from 3.58% in 2022 [63]. - The total interest expense for 2023 was $7,741 thousand, an increase of 7,741 thousand compared to the previous year, driven primarily by time deposits and advances from the Federal Home Loan Bank [63]. - The average yield on interest-earning assets was 5.12% in 2023, compared to 4.21% in 2022, indicating a significant increase in asset yield [61]. - The company’s total stockholders' equity decreased to $52,288 thousand in 2023 from $58,716 thousand in 2022, a decline of 10.0% [61]. Capital Adequacy - Unified exceeded its minimum capital requirements under applicable guidelines as of December 31, 2024 [28]. - The Bank was well capitalized as of December 31, 2024, in accordance with prompt corrective action guidelines [37]. - Unified is required to maintain minimum capital levels according to FDIC capital adequacy guidelines, with specific capital positions detailed in Note 11 of the consolidated financial statements [35]. Employee Information - Unified has 115 full-time employees, including 31 in management positions and 11 part-time employees [53]. Credit Losses and Loan Performance - The allowance for credit losses (ACL) is based on historical loss experience and current economic conditions, with significant qualitative adjustments made for inflation and interest rate increases [73]. - The ratio of net charge-offs to average loans outstanding for 2024 is 0.07%, an increase from 0.02% in 2023 and a decrease from 0.14% in 2022 [78]. - The total allowance for credit losses to total loans is 0.82% in 2024, slightly up from 0.81% in 2023 and significantly higher than 0.45% in 2022 [78]. - The total allowance for credit losses allocated to commercial real estate loans is $1,488 million, representing 59.41% of total loans in 2024 [79]. - The ratio of installment loans net charge-off to average consumer loans is 2.16% in 2024, up from 1.93% in 2023 and 1.90% in 2022 [78]. - The allowance for credit losses for residential real estate loans is $1,708 million, accounting for 18.68% of total loans in 2024 [79]. - The ratio of commercial loans and industrial net charge-offs to average commercial loans is 0.13% in 2024, compared to (0.03)% in 2023 [78]. Business Operations - Unified has no single customer or related group of customers whose banking activities would materially impact earnings capabilities [10]. - Unified is engaged in one line of business, banking, with financial information detailed in Item 8 of the 10-K report [57].

Financial Performance - For Q4 2024, United Bancorp, Inc. reported diluted earnings per share of $0.31 and net income of $1,850,000, representing decreases of $539,000 and $0.11 year-over-year[1][2]. - For the full year 2024, diluted earnings per share were $1.27 and net income was $7,402,000, down $1,548,000 and $0.30 compared to 2023[2][3]. - Net income decreased by 22.57% to $1,849,812 from $2,389,060 year-over-year[8]. - Net income decreased by 17.29% to $7,402,349, down from $8,949,552 in 2023[9]. - Earnings per common share (Basic and Diluted) fell by 26.19% to $0.31 from $0.42[8]. - Earnings per share (diluted) fell by 19.11% to $1.27 from $1.57[9]. Asset and Loan Growth - Total average assets increased by $26.0 million, or 3.2%, year-over-year to $828.1 million, while gross loans rose by $7.7 million, or 1.6%, to $491.0 million[3]. - As of December 31, 2024, United Bancorp, Inc. has total assets of $820.8 million and total shareholders' equity of $67.6 million[5]. - Total assets increased slightly by 0.17% to $820,835,746 compared to $819,449,465 in 2023[9]. Interest Income and Expenses - Total interest income increased by $2.7 million, or 7.3%, for the year, but was offset by a total interest expense increase of $3.7 million, or 33.7%[3]. - Total interest income increased by 3.86% to $10,078,466 compared to $9,703,576 in the previous year[8]. - Interest income on loans increased by 13.06% to $27,449,379 compared to $24,277,549 in 2023[9]. - Total interest income rose by 7.25% to $39,521,287 from $36,849,321 in the previous year[9]. Noninterest Income and Charges - Total noninterest income rose by 16.02% to $1,194,245 compared to $1,029,317 in the prior year[8]. - Service charges on deposit accounts increased by 9.34% to $806,297 from $737,455[8]. - The provision for credit losses on loans was $124,499, a significant increase compared to a credit of $153,750 in the previous year[8]. Credit Quality and Allowance - As of December 31, 2024, total nonaccrual loans and loans past due 30 days were $1.0 million, or 0.21% of gross loans, down from the previous year by $122,000 or 10.6%[3]. - The total allowance for credit losses to total loans was 0.82%, with a coverage ratio of 1,243% for nonaccrual loans as of year-end 2024[3]. - Non-accrual loans rose by 51.05% to $736,127 from $487,331[9]. Equity and Dividends - Tangible shareholders' equity increased by $4.2 million, or 6.7%, to $66.8 million, with a tangible book value per share of $11.21, up $0.55 or 5.2% year-over-year[3][4]. - In 2024, the company paid a total cash dividend of $0.8550, an increase of $0.04, or 4.9%, yielding a near-industry leading total dividend yield of 6.6%[4]. - Cash dividends paid increased by 4.91% to $0.8550 from $0.8150[9]. Future Outlook and Strategy - The company plans to open a new banking center in Wheeling, West Virginia, in Q3 2025 to enhance market presence and leverage existing customer relationships[4]. - The company aims to grow to an asset threshold of $1.0 billion or greater in a prudent and profitable manner[5]. - United Bancorp, Inc. operates eighteen banking centers across Ohio and West Virginia[5]. - The company remains optimistic about future growth and earnings potential despite current industry challenges[5]. Return on Assets and Equity - Return on average assets (ROA) declined by 19.89% to 0.89% from 1.12%[10]. - Return on average equity (ROE) dropped by 36.05% to 10.94% from 17.12%[10].

Financial Performance - Net income for the three months ended September 30, 2024, was $1,820 thousand, down 24% from $2,392 thousand in the same period last year[11]. - Net income for the nine months ended September 30, 2024, was $5,553,000, compared to $6,560,000 for the same period in 2023, representing a decrease of approximately 15.3%[15]. - Earnings per common share for the three months ended September 30, 2024, was $0.31, down from $0.42 in the same period of 2023, a decrease of 26.2%[11]. - For the nine months ended September 30, 2024, net income was $5,301,000, with basic and diluted earnings per share of $0.95, compared to $6,296,000 and $1.15 for the same period in 2023[47]. - Comprehensive income for the three months ended September 30, 2024, was $5,881 thousand, compared to a loss of $4,906 thousand in the same period last year[12]. Asset and Liability Management - Total assets increased to $825,482 thousand as of September 30, 2024, compared to $819,449 thousand at December 31, 2023, reflecting a growth of 0.4%[8]. - The total liabilities increased to $760,022 thousand as of September 30, 2024, from $755,856 thousand at December 31, 2023, an increase of 0.2%[8]. - The total stockholders' equity as of September 30, 2024, was $65,460,000, an increase from $52,590,000 as of September 30, 2023, representing a growth of approximately 24.4%[13]. - The carrying amount of cash and cash equivalents was $37,778,000 as of September 30, 2024, compared to $40,770,000 at December 31, 2023[121]. Income and Expense Analysis - Net interest income for the three months ended September 30, 2024, was $6,139 thousand, a decrease of 6.5% from $6,566 thousand for the same period in 2023[11]. - Total interest income generated for the first nine months of 2024 increased by $2.3 million, or 8.5%, but was offset by a total interest expense increase of $3.2 million, or 40.7%[125]. - Noninterest income increased to $1,215 thousand for the three months ended September 30, 2024, compared to $963 thousand for the same period in 2023, representing a growth of 26.2%[11]. - Noninterest expense rose by $275,000 or 1.7% year-over-year, with a significant portion attributed to inflationary pressures[152]. Credit Quality and Loan Performance - The provision for credit loss expense was $69 thousand for the three months ended September 30, 2024, compared to a reversal of $154 thousand in the same period last year[11]. - The total allowance for credit losses (ACL) is established based on expected credit losses measured over the contractual life of a loan, considering historical loss experience and current economic conditions[33]. - The company reported a total of $374,172,000 in commercial real estate loans, a decrease from $374,172,000 in 2023, reflecting a stable portfolio[66]. - The total nonperforming loans reached $790,000, which includes $323,000 in nonaccrual loans with no allowance for credit losses and $57,000 in nonaccrual loans with an allowance for credit losses[80]. Dividend and Shareholder Returns - Dividends per common share increased to $0.1775 for the three months ended September 30, 2024, compared to $0.1675 for the same period in 2023[11]. - Total cash dividends paid on common stock for the nine months ended September 30, 2024, were $4,040,000, compared to $3,786,000 for the same period in 2023, an increase of about 6.7%[15]. - A regular cash dividend increased by $0.03 to $0.5250, and a special cash dividend of $0.15 was paid, resulting in a total payout of $0.6750, a 6.0% increase for the quarter[129]. Economic and Market Conditions - The company faced challenges due to net interest margin compression and sluggish economic activity, impacting loan demand and growth[123]. - Economic activity remained little changed across Federal Reserve Districts, with most reporting declining manufacturing activity and steady banking sector performance[170]. - Inflation moderated during Q3 2024, but prices for certain food staples increased sharply, impacting consumer spending power[171]. Future Outlook and Strategic Initiatives - The company aims to grow total assets to $1.0 billion or greater, with a new banking center under construction in Wheeling, West Virginia, expected to open in Q3 2025[128]. - The company anticipates overcoming current challenges and achieving higher growth and improved performance in the next 12 to 24 months[123].

Financial Performance - For Q3 2024, United Bancorp, Inc. reported diluted earnings per share of $0.31 and net income of $1,820,000, representing decreases of $573,000 and $0.11 year-over-year[2]. - Year-to-date, diluted earnings per share for the first nine months of 2024 were $0.95, down $1,007,000 or $0.20 compared to the same period in 2023[2]. - Net income for the three months ended September 30, 2024, decreased by 23.94% to $1.82 million from $2.39 million in the same period of 2023[7]. - Net income decreased by 15.36% to $5,552,537 from $6,560,491 year-over-year[8]. - Earnings per common share (diluted) fell by 17.39% to $0.95, down from $1.15[8]. Assets and Equity - Total average assets as of September 30, 2024, were $826.2 million, an increase of $19.0 million or 2.4% year-over-year[3]. - As of September 30, 2024, United Bancorp, Inc. has total assets of $825.5 million and total shareholders' equity of $65.5 million[5]. - Shareholders' equity rose by 24.47% to $65,459,697, up from $52,589,312[8]. - The tangible shareholders' equity increased by $13.0 million or 25.2% year-over-year to $64.6 million[3]. - Total assets grew by 1.38% to $825,482,119, compared to $814,280,733 in the prior period[8]. Loans and Credit Quality - Average loans increased by $20.4 million or 4.4% to $480.8 million year-over-year[3]. - Total nonaccrual loans and loans past due 30 days were $1.0 million, or 0.21% of gross loans, reflecting an increase from the previous year[3]. - Non-accrual loans increased by 75.50% to $379,988 from $216,515[8]. - The allowance for credit losses to total loans was 0.84% as of September 30, 2024, indicating strong coverage[3]. - The provision for credit losses on loans for the nine months ended September 30, 2024, was $174,165, a significant increase compared to a provision of $(300,000) in the same period of 2023[7]. Income and Expenses - Total interest income for the first nine months of 2024 increased by $2.3 million or 8.5% compared to the previous year, but total interest expense rose by $3.2 million or 40.7%[3]. - Net interest income declined by $880,000 or 4.6% to $18.5 million, with net interest margin decreasing from 3.63% to 3.50%[3]. - For the nine months ended September 30, 2024, total interest income increased by 8.46% to $29.44 million compared to $27.15 million in the same period of 2023[7]. - For the three months ended September 30, 2024, total interest income increased by 3.03% to $9.94 million compared to $9.65 million in the same period of 2023[7]. - Total noninterest income increased by 7.97% to $3,265,630 compared to $3,024,509 in the previous period[8]. Dividends and Shareholder Returns - The company paid a total cash dividend of $0.6750 in 2024, an increase of $0.01 or 6.0% for the quarter and $0.03 or 4.7% year-over-year[4]. - Cash dividends paid increased by 5.97% to $0.1775 per share compared to $0.1675 in the same period of 2023[7]. Strategic Goals and Future Outlook - The company aims to grow its assets to $1.0 billion or greater in a prudent and profitable manner in the near term[5]. - The company continues to focus on process improvement, product development, and delivery to enhance future growth and earnings potential[5]. Market Performance - Market value at the last close increased by 13.68% to $13.13 from $11.55[8]. - Return on average assets (ROA) declined to 0.90% from 1.08%[8]. - Return on average equity (ROE) decreased to 11.30% from 16.95%[8].

Financial Performance - Net income for the three months ended June 30, 2024, was $1,739 thousand, a decrease of 23.8% from $2,280 thousand for the same period in 2023[10]. - Net income for the six months ended June 30, 2024, was $3,732,000, a decrease of 10.5% compared to $4,168,000 for the same period in 2023[16]. - Earnings per common share for the three months ended June 30, 2024, was $0.30, down from $0.40 in the same period of 2023, a decrease of 25.0%[10]. - For the six months ended June 30, 2024, net income was $3,541,000, with basic and diluted earnings per share of $0.64, down from $0.73 in the same period of 2023[44]. - Comprehensive loss for the three months ended June 30, 2024, was $(1,673) thousand, compared to a comprehensive income of $288 thousand for the same period in 2023[11]. - Net income declined by 23.70% to $1,739,967, down from $2,280,424, reflecting a decrease in earnings before income taxes by 34.11% to $1,613,140[124]. Asset and Liability Management - Total assets increased to $821,815 thousand as of June 30, 2024, compared to $819,449 thousand at December 31, 2023, reflecting a growth of 0.3%[7]. - Total liabilities increased to $761,218 thousand as of June 30, 2024, from $755,856 thousand at December 31, 2023, reflecting an increase of 0.6%[7]. - The carrying amount of cash and cash equivalents was $37,570,000 as of June 30, 2024, down from $40,770,000 at December 31, 2023[100]. - The total stockholders' equity increased to $63,206,000 as of June 30, 2024, from $58,409,000 as of June 30, 2023, representing an increase of approximately 8.1%[16]. - The common equity tier 1 capital ratio was 13.26%, indicating the company remains well-capitalized under federal regulatory requirements[152]. Income and Expense Analysis - Net interest income after credit for losses was $6,098 thousand for the three months ended June 30, 2024, down from $6,491 thousand in the same period last year, representing a decline of 6.0%[10]. - Total noninterest income for the three months ended June 30, 2024, was $1,184 thousand, up from $1,046 thousand in the same period of 2023, indicating an increase of 13.2%[10]. - Total noninterest expense increased by 11.37% to $5,668,133, compared to $5,089,269 in the previous period[124]. - The provision for credit loss expense for loans was $234 thousand for the three months ended June 30, 2024, compared to a reversal of $146 thousand in the same period last year[10]. - The provision for credit losses on loans increased significantly by 260.34% to $234,499, indicating a rise in expected credit losses[124]. Deposit and Loan Activity - Total deposits increased to $623,189 thousand as of June 30, 2024, compared to $621,459 thousand at December 31, 2023, showing a slight increase of 0.3%[7]. - The net change in deposits for the six months ended June 30, 2024, was an increase of $1,730,000, contrasting with a decrease of $6,297,000 in the prior year[16]. - Total gross loans as of June 30, 2024, amounted to $484,514,000, an increase from $483,236,000 at December 31, 2023[54]. - The total recorded investment in loans as of June 30, 2024, was $484,204,000, with $91,917,000 in residential loans and $10,063,000 in consumer loans[60]. - The total performing loans across all categories amounted to $8,565,000, down from $13,393,000 year-over-year, a decrease of approximately 36.5%[67]. Securities and Investments - The fair value of available-for-sale securities at June 30, 2024, was $240,124,000, down from $251,683,000 at December 31, 2023[48]. - The company recorded a gain of approximately $78,000 on the sale of available-for-sale securities for the three months ended June 30, 2024, and a loss of approximately $116,000 for the six months ended June 30, 2024[53]. - The total fair value of investments in debt securities at June 30, 2024, was $215.3 million, representing 90% of the company's available-for-sale investment portfolio[51]. - The company experienced gross unrealized losses of $13,914,000 on total debt securities as of June 30, 2024[46]. - The net unrealized loss on securities available-for-sale increased to $(13,658,000) as of June 30, 2024, compared to $(8,922,000) at December 31, 2023, reflecting a deterioration of 53%[86]. Dividend and Shareholder Information - Dividends per common share increased to $0.1750 for the three months ended June 30, 2024, compared to $0.1650 for the same period in 2023, an increase of 9.1%[10]. - Cash dividends paid increased to $2,979,000 for the six months ended June 30, 2024, compared to $2,800,000 in the prior year, reflecting a dividend per share increase from $0.4775 to $0.4975[16]. - The company paid a regular cash dividend of $0.3475 and a special cash dividend of $0.15, totaling $0.4975, which represents a year-over-year increase of $0.01, or 6.1%[121]. - The total dividend yield for the current year is 6.8%, based on the second quarter cash dividend and special dividend[121]. Future Outlook and Strategic Initiatives - The company expects to overcome current challenges and achieve higher growth and improved performance in the next 12 to 24 months[113]. - UBCP aims to grow total assets to $1.0 billion or greater, with a new banking center under construction in Wheeling, West Virginia, expected to open by mid-2025[120]. - UBCP is focusing on enhancing mortgage origination and Treasury Management functions to generate additional noninterest income and improve overall performance[118].

Financial Performance - For Q2 2024, United Bancorp, Inc. reported diluted earnings per share of $0.30 and net income of $1,739,000, representing decreases of $540,000 and $0.10 year-over-year[2]. - For the first six months of 2024, diluted earnings per share were $0.64 and net income was $3,732,000, down $436,000 and $0.09 compared to the same period in 2023[2]. - Net income decreased by 23.70% to $1,739,967 from $2,280,424 in the same period last year[7]. - Earnings before income taxes fell by 34.11% to $1,613,140 compared to $2,448,140 previously[7]. - Net income decreased by 10.44% to $3,732,879 from $4,168,035 year-over-year[8]. - Earnings per common share (diluted) decreased by 12.33% to $0.64 from $0.73[8]. Interest Income and Expenses - Total interest income increased by $2.0 million, or 11.5%, year-over-year, while total interest expense rose by $2.5 million, or 52.0%, leading to a net interest income decline of $451,000, or 3.5%[3]. - Interest income on loans increased by 13.78% to $6,774,227 compared to $5,954,031 in the previous year[7]. - Total interest income rose by 6.37% to $9,878,202 from $9,286,269 year-over-year[7]. - Total interest income increased by 11.46% to $19,499,024 compared to $17,494,370 in the previous year[8]. Asset and Loan Management - As of June 30, 2024, total assets decreased by $8.5 million, or 1.0%, to $821.8 million, while gross loans increased by $21.6 million, or 4.7%, to $484.5 million[3]. - Total assets decreased by 1.02% to $821,814,882 from $830,283,563[8]. - Gross loans increased by 4.68% to $484,514,415 compared to $462,870,965 in the previous year[8]. - Non-accrual loans decreased by 9.02% to $362,051 from $397,963[8]. Credit Losses - The provision for credit loss expense was $104,000 for the quarter, marking an increase of $250,000 year-over-year, impacting diluted earnings per share by approximately $0.04[3]. - The provision for credit losses on loans increased significantly by 260.34% to $234,499 from a benefit of $(146,250) in the previous year[7]. - Net charge-offs increased by 273.51% to $163,429 compared to $43,755 in the previous year[8]. - The total allowance for credit losses to total loans was 0.82% as of June 30, 2024, indicating strong coverage[3]. - Total allowance for loan losses to nonaccrual loans improved to 1101.85%, an increase of 26.00%[9]. Dividends and Shareholder Returns - United Bancorp, Inc. paid a regular cash dividend of $0.3475 and a special cash dividend of $0.15, totaling $0.4975, which is a 6.1% increase year-over-year[5]. - Cash dividends paid rose by 6.06% to $0.1750 from $0.1650[7]. - Cash dividends paid increased by 4.19% to $0.4975 from $0.4775[8]. - The dividend payout ratio increased to 54.30%, up 9.43% from 44.86%[9]. Equity and Market Performance - Stockholders' equity grew by 3.75% to $60,597,763, with tangible stockholders' equity increasing by 4.05% to $59,717,970[9]. - The market value at the last close was $12.55, up 4.85% from $11.97[9]. - Return on average equity (ROE) decreased to 12.34%, down 1.89% from 14.23%[9]. - Accumulated other comprehensive loss (AOCI) impacted stockholders' equity, increasing by 15.40% to $(11,219,599)[9]. Strategic Developments - The company is developing Unified Mortgage to enhance mortgage origination and increase fee income, alongside expanding its Treasury Management function[4]. - A new banking center is under construction in Wheeling, West Virginia, expected to open by mid-2025, aimed at leveraging existing customer relationships and expanding market presence[4].