Fri, Mar 14, 7:44 PM (43 days ago)
United Bancorp, Inc. (UBCP) reported a strong financial performance for the fiscal year ended December 31, 2024. The company's total assets stood at $802,054,000, with total liabilities and stockholders' equity at $802,054,000. Net income for the year was $27,424,000, reflecting a net interest income of $27,424,000 and a net interest spread of 3.28%. The company's earnings per share were not explicitly stated but can be inferred from the net income and the number of outstanding shares. United Bancorp's strategic overview involves serving customers in northeastern, eastern, southeastern, and south central Ohio, as well as the Northern Panhandle of West Virginia. The bank provides a broad range of banking and financial services, including accepting deposits and granting loans. The company operates through its main office and eighteen branches, with no single customer having a material impact on its earnings. The company faces significant competition in its markets, ranking third in total deposit market share in Belmont County, Ohio. Key competitors include Huntington National Bank, Belmont Savings Bank, PNC Bank, and Wesbanco Bank. United Bancorp is subject to extensive regulation, including supervision by the Federal Reserve, FDIC, and Ohio Division of Financial Institutions. The company is well-capitalized and has maintained strong capital ratios, ensuring compliance with regulatory requirements. The bank's deposit insurance is provided by the FDIC, with risk-based assessments determining the premiums paid. The company's future outlook is positive, with a focus on maintaining strong capital positions, managing risks, and adhering to regulatory compliance. However, the bank acknowledges various risk factors, including economic conditions, interest rate changes, and regulatory environments. United Bancorp's market position changes are not explicitly detailed, but the company's strategic initiatives and regulatory compliance efforts suggest a stable and growing market presence. The bank's financial condition is robust, with a well-capitalized status and strong liquidity positions.