United Bancorp(UBCP) - 2025 Q3 - Quarterly Results

Financial Performance - For Q3 2025, United Bancorp, Inc. reported diluted earnings per share of $0.34 and net income of $1,931,000, representing increases of 9.7% and 6.1% respectively compared to Q3 2024[1][2] - For the first nine months of 2025, net income reached $5,717,000, an increase of $165,000 or 3.0%, and diluted earnings per share were $0.99, up by $0.04 or 4.2% year-over-year[2] - Net income for the three months ended September 30, 2025, was $1,931,041, reflecting a 6.12% increase from the previous year[10] - Net income for the period was $5,717,427, reflecting a 2.97% increase from $5,552,537[11] - Earnings per common share (basic) increased by 9.68% to $0.34 for the three months ended September 30, 2025[10] - Earnings per common share (diluted) rose by 4.21% to $0.99 from $0.95[11] Asset and Loan Growth - The company's total assets increased by $41.3 million or 5.0% year-over-year, reaching $866.8 million as of September 30, 2025[3] - Gross loans increased by $21.5 million or 4.5% to $496.5 million, while cash and due from the Federal Reserve Bank rose by $7.8 million or 20.6% to $45.6 million[3] - Total assets as of September 30, 2025, were $866.8 million, with total shareholders' equity of $66.5 million[7] - Total assets increased by 5.00% to $866,755,858, up from $825,482,119[11] - Gross loans grew by 4.53% to $496,536,989 compared to $475,004,333 in 2024[11] Deposits and Interest Income - Total deposits increased by $29.4 million or 4.8% to $645.2 million, with noninterest-bearing demand balances rising by $12.3 million or 8.5%[3] - Total deposits increased by 4.77% to $645,193,065, up from $615,818,830[11] - Net interest income for the first nine months of 2025 increased by $1,116,000 or 6.0%, with the net interest margin improving by 16 basis points to 3.66%[3] - Net interest income for the three months ended September 30, 2025, was $6,729,460, a 9.62% increase from the previous year[10] - Total interest income rose by 4.91% to $30,888,667 from $29,442,820 in the previous year[11] - Interest income on loans increased by 8.05% to $22,109,536 compared to $20,462,806 in 2024[11] Dividends - Regular cash dividend increased by $0.03 to $0.555, a rise of 5.7% year-over-year[6] - Special cash dividend of $0.175 was paid, up $0.025 or 16.7% from the previous year[6] - Total cash dividends paid in the first nine months of 2025 amounted to $0.73, an increase of $0.055 or 8.2% compared to the same period in 2024[6] Credit Quality - The total allowance for credit losses to total loans was 0.87%, reflecting a three basis point increase year-over-year[4] - Provision for credit losses on loans rose to $186,000, a significant increase of 166.99% year-over-year[10] - Non-accrual loans surged by 541.38% to $2,437,164 from $379,988[11] - Total allowance for credit losses to non-accrual loans was 176.54%[12] - Total allowance for credit losses to total loans was 0.87%[12] Strategic Initiatives - United Bancorp, Inc. is focused on growing its asset base to $1.0 billion or greater, with initiatives including the construction of a new regional banking center in Wheeling, West Virginia[5] - The company is investing in technology and digital transformation, including the implementation of an artificial intelligence solution to enhance customer service[5] - The Unified Center in St. Clairsville, Ohio, will centralize accounting, technology, and customer support functions, enhancing service delivery and customer experience[5] - The company is focusing on market expansion and new product development strategies[12] - Future guidance indicates a positive outlook for revenue growth and operational efficiency improvements[12] Market Performance - The fair market value of the company's stock increased by $0.85, or 6.5%, year-over-year as of September 30, 2025[6] - Market value at the end of the period was $13.98 billion, with a dividend payout ratio of 56.06%[12] Efficiency Ratios - Return on average assets (ROA) was reported at 0.91%[12] - Return on average equity (ROE) improved to 12.48%[12] - Net interest margin increased to 3.66%[12] Other Metrics - Average loans decreased by 0.04% compared to the previous period[1] - Non-accrual loans and OREO to average assets increased to 0.68% from 0.46%[1] - Non-accrual loans and OREO to total assets rose to 0.66% from 0.46%[1] - Equity to assets at period end was 7.67%, down from 7.93%, a decrease of 0.26%[1]