United Bancorp(US:UBCP)2026-02-03 21:14Financial Performance - For Q4 2025, United Bancorp reported diluted earnings per share of $0.35 and net income of $2,035,000, representing increases of 12.9% and 10.0% respectively compared to Q4 2024[2][3] - For the full year 2025, diluted earnings per share were $1.34 and net income was $7,753,000, reflecting increases of 5.5% and 4.7% respectively compared to 2024[2][3] - Net income for the three months ended December 31, 2025, was $2,035,296, reflecting a 10.03% increase from $1,849,812 in 2024[10] - Net income for the year was $7,752,723, reflecting a 4.73% increase from $7,402,349 in 2024[11] - Earnings per share (diluted) improved by 5.51% to $1.34 compared to $1.27 in the prior year[11] Asset and Deposit Growth - Total assets grew by $40.8 million, or 5.0%, reaching $857.4 million as of December 31, 2025, driven by a $17.0 million increase in average loans[4] - As of December 31, 2025, total assets were $857.4 million, with total shareholders' equity at $70.5 million[7] - Total deposits increased by $27.9 million, or 4.5%, to $641.4 million, with lower-cost demand and savings balances comprising 72% of total deposits[5] - Total deposits increased by 4.54% to $641,366,375 compared to $613,493,640 in 2024[11] Interest Income and Expenses - The company's net interest income increased by $1,659,000, or 6.7%, with a net interest margin rising by 19 basis points to 3.70%[4][5] - Interest income on loans increased by 8.31% to $7,567,323 for the three months ended December 31, 2025, compared to $6,986,573 in 2024[10] - Total interest income rose by 5.18% to $10,600,438, while total interest expense decreased by 0.58% to $3,711,895[10] - Total interest income increased by 4.98% to $41,489,105 compared to $39,521,287 in 2024[11] - Net interest income rose by 6.69% to $26,460,067 from $24,800,380 in the previous year[11] Credit Quality and Losses - As of December 31, 2025, total nonaccrual loans were $2.3 million, or 0.46% of gross loans, indicating strong credit quality[5] - The provision for credit loss expense increased by $375,000 year-over-year to $674,000, impacting diluted earnings per share by approximately ($0.054)[5] - The total allowance for credit losses to total loans was 0.87%, with a coverage ratio of 188% for nonaccrual loans, indicating strong reserves[5] - Provision for credit losses increased significantly by 125.67% to $674,000, up from $298,664[11] - Non-accrual loans surged by 207.88% to $2,266,367, up from $736,127[11] Strategic Initiatives - The company aims to grow total assets to $1.0 billion or greater, supported by strong demand for its loan products, particularly in the small-business commercial portfolio[5] - United Bancorp, Inc. aims to grow its asset base to $1.0 billion and beyond, transitioning to a more offensive growth strategy starting in 2024[6] - The company plans to open a new regional banking center in Wheeling, West Virginia, on December 9, 2025, to drive growth[6] - The Unified Mortgage Division contributed to higher fee income, with a focus on scaling this function for increased profitability[6] - A new property in St. Clairsville, Ohio, known as the Unified Center, will centralize customer support and technology functions, enhancing service delivery[6] Dividends - Cash dividends paid increased by 5.56% to $0.1900 per share, up from $0.1800 in the previous year[10] - Total cash dividends paid in 2025 amounted to $0.92, a year-over-year increase of 7.6%, resulting in a total dividend yield of 6.4%[6] Market Performance - Return on average equity (ROE) improved to 11.69%, up from 10.93%[12] - Market value per share at the end of the period was $14.35, a 10.38% increase from $13.00[12]