UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 (Exact name of registrant as specified in its Charter.) | Ohio | 34-1405357 | | --- | --- | | (State or other jurisdiction of incorporation or organization) | (IRS) Employer Identification No.) | | 201 South ...

Financial Performance - Net income for the three months ended September 30, 2021, was $2,902 thousand, a 40.9% increase compared to $2,059 thousand for the same period in 2020[7] - Earnings per common share for the nine months ended September 30, 2021, was $1.21, compared to $0.93 for the same period in 2020, indicating a growth of 30.1%[7] - Net income for the nine months ended September 30, 2021, was $6,995,000, an increase from $5,313,000 for the same period in 2020, representing a growth of 31.6%[15] - Comprehensive income for the three months ended September 30, 2021, was $1,467 thousand, compared to $1,338 thousand for the same period in 2020, reflecting an increase of 9.6%[9] - The total comprehensive income for the nine months ended September 30, 2021, was $6,910,000, compared to $9,613,000 in 2020, reflecting a decrease in overall comprehensive income[12] Asset and Deposit Growth - Total assets increased to $730,382 thousand as of September 30, 2021, up from $693,402 thousand at December 31, 2020, representing a growth of 5.7%[5] - Total deposits increased to $608,508 thousand as of September 30, 2021, up from $579,535 thousand at December 31, 2020, reflecting a growth of 5.0%[5] - The net change in deposits for the nine months ended September 30, 2021, was $28,973,000, compared to $28,787,000 in 2020, indicating a stable growth in deposits[18] Loan and Interest Income - Net interest income after provision for loan losses rose to $6,005 thousand for the three months ended September 30, 2021, compared to $4,411 thousand in the same period last year, marking a 36.1% increase[7] - The provision for loan losses was a credit of $400 thousand for the three months ended September 30, 2021, compared to a provision of $1,333 thousand in the same period last year, indicating a significant improvement in loan loss provisions[7] - The company reported a gain on the sale of loans held for sale amounting to $9,674,000 for the nine months ended September 30, 2021, compared to $4,289,000 in 2020, showing a significant increase of 126.5%[15] - The total balance of gross loans amounted to $462.1 million, an increase from $443.5 million as of December 31, 2020, representing a growth of approximately 4%[65] Noninterest Income and Expenses - Noninterest income for the three months ended September 30, 2021, was $2,287 thousand, slightly down from $2,340 thousand in the same period last year, a decrease of 2.3%[7] - Total noninterest expense increased to $4,942 thousand for the three months ended September 30, 2021, compared to $4,492 thousand in the same period last year, an increase of 10.0%[7] - Noninterest income for the nine months ended September 30, 2021, was $4,355 thousand, down from $5,540 thousand in 2020, indicating a decrease of 21.5%[7] - Noninterest expense increased by $460,000 or 3.4% year-over-year, primarily due to personnel-related expenses[164] Dividends and Shareholder Returns - The company declared dividends per common share of $0.1475 for the three months ended September 30, 2021, compared to $0.1425 for the same period in 2020, representing a growth of 3.5%[7] - Cash dividends paid on common stock increased to $3,206,000 for the nine months ended September 30, 2021, compared to $2,521,000 in 2020, reflecting a rise of 27.2%[18] - Cash dividends declared were $0.5350 per share for the nine months ended September 30, 2021, totaling $3,206,000, compared to $2,521,000 for $0.4275 per share in 2020[15] Capital and Equity - Stockholders' equity totaled $70.1 million at September 30, 2021, an increase of $1.7 million from $68.3 million at December 31, 2020[173] - The Company had a common equity tier 1 capital ratio of 13.57% as of September 30, 2021, indicating strong capital adequacy[179] Loan Loss Provisions and Risk Management - The allowance for loan losses decreased to $4.1 million as of September 30, 2021, down from $5.1 million at the end of 2020, indicating a reduction of about 20%[65] - The company continues to monitor the impact of COVID-19 on its loan portfolio and may need to make additional loan loss provisions as warranted[187] - The Company had credit reserve releases of $855,000 during the nine months ended September 30, 2021, reflecting an improving economy[161] Economic Conditions and Future Outlook - The company is focused on becoming a $1.0 billion community banking organization to achieve greater operating efficiencies and profitability[136] - The company anticipates significant changes in processes to calculate the allowance for loan losses due to the adoption of ASU 2016-13, which may lead to an increase in the allowance at the adoption date[56]

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT For the transition period from to Commission File Number: 0-16540 UNITED BANCORP, INC. (Exact name of registrant as specified in its charter) Ohio 34-1405357 (State or other jurisdicti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2021 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT For the transition period from ____________ to ____________ Commission File Number: 0-16540 UNITED BANCORP, INC. (Exact name of registrant as specified in its charter) Ohio 34-1405357 (State or other j ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2020 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from N/A to N/A Commission File Number 0-16540 UNITED BANCORP, INC. (Exact name of registrant as specified in its Charter.) Ohio 34-1405357 (State or other jurisdiction of incorpora ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2020 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT For the transition period from ____________ to _______________ Commission File Number: 0-16540 UNITED BANCORP, INC. (Exact name of registrant as specified in its charter) Ohio 34-1405357 (State or ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2020 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT For the transition period from ____________ to _______________ Commission File Number: 0-16540 UNITED BANCORP, INC. (Exact name of registrant as specified in its charter) Ohio 34-1405357 (State or other ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) UNITED BANCORP, INC. (Exact name of registrant as specified in its charter) incorporation or organization) Ohio 34-1405357 (State or other jurisdiction of (IRS Employer Identification No.) x QUARTERLY REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2020 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT For the tran ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K x ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from N/A to N/A Commission File Number 0-16540 UNITED BANCORP, INC. (Exact name of registrant as specified in its Charter.) Ohio 34-1405357 Registrant's telephone number, including ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR ¨ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES AND EXCHANGE ACT For the transition period from ____________ to _______________ Commission File Number: 0-16540 UNITED BANCORP, INC. (Exact name of registrant as specified in its charter) Ohio 34-1405357 (State or ...