United Bancorp, Inc. Reports 2026 First Quarter Earnings Performance
Rhea-AI Summary
United Bancorp (NASDAQ:UBCP) reported diluted EPS of $0.33 and net income of $1,911,000 for the quarter ended March 31, 2026. Year‑over‑year increases were $39,000 (2.1%) for net income and $0.01 (3.1%) for diluted EPS.
Total assets were $858.5M, deposits $666.7M, gross loans $500.3M, securities $239.9M, and net interest margin was 3.72% (up 12 bps).
AI-generated analysis. Not financial advice.
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News Market Reaction – UBCP
On the day this news was published, UBCP gained 1.94%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
Several regional bank peers showed mild declines, including IROQ (-0.93%), SSBI (-0.48%), and AUBN (-0.44%), while CFSB was flat. This directionally aligns with UBCP’s -1.69% move, but no sector-wide momentum was flagged by the scanner.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Apr 23 | Dividend increase | Positive | +0.7% | Raised Q2 2026 dividend to $0.1950 with a 5.13% forward yield. |
| Feb 19 | Dividend + special | Positive | +1.4% | Higher regular dividend and $0.1750 special, projecting $0.9450 2026 payouts. |
| Feb 03 | Earnings report | Positive | +1.4% | Reported higher Q4 and FY2025 earnings with 3.70% net interest margin. |
| Nov 20 | Dividend increase | Positive | -1.9% | Increased Q4 2025 dividend to $0.19 and highlighted 5.4% forward yield. |
Recent dividend and earnings announcements have generally seen modestly positive price reactions, with one dividend-related divergence to the downside.
Over the past several months, United Bancorp has focused on steady earnings growth and progressively higher cash dividends. A February 2026 release highlighted Q4 2025 EPS of $0.35 and FY2025 EPS of $1.34, supported by a 3.70% net interest margin and assets of $857.4M. Multiple announcements raised regular dividends and paid a special dividend, producing forward yields above 5%. Most of these updates generated small positive price moves, underscoring the market’s generally constructive response to earnings strength and capital returns.
Market Pulse Summary
This announcement details higher first-quarter EPS of $0.33, net income of $1.91M, asset growth to $858.5M, and an expanded 3.72% net interest margin. It also notes rising nonaccrual balances but very low net charge-offs and continued dividend strength. Recent filings reinforce a well-capitalized profile and consistent shareholder payouts. Investors may watch future quarters for trends in credit quality, deposit mix, noninterest income from new initiatives, and the impact of ongoing technology investments on expenses and profitability.
Key Terms
federal open market committee financial
gross domestic product financial
federal home loan bank financial
net interest margin financial
nonaccrual loans financial
basis points financial
net loans charged off financial
forward-looking statements regulatory
AI-generated analysis. Not financial advice.
MARTINS FERRY, OH / ACCESS Newswire / May 7, 2026 / United Bancorp, Inc. (NASDAQ:UBCP) reported diluted earnings per share of
Randall M. Greenwood, Senior Vice President, CFO and Treasurer remarked, "We are happy to report on the earnings performance of United Bancorp, Inc. (UBCP) for the first quarter ended March 31, 2026. For the quarter, our Company achieved solid net income and diluted earnings per share results of
Greenwood further remarked, "Many thought that the economic uncertainty with which our country has been dealing for the past several years was finally going to be in the rear-view mirror in 2026. Even though inflation had stagnated at a level a little bit higher than the Federal Open Market Committee (FOMC) of the Federal Reserve Bank liked, it was getting closer to their established target of two percent. In addition, they were mostly satisfied with current employment-related data within our economy. As we entered 2026, forecasts called for solid economic growth as the impact of the tariffs implemented last year was thought to also be behind us and the anticipated increase in tax refund payouts under our new tax policy were anticipated to fuel consumption and growth, driving our Gross Domestic Product (GDP) higher to levels rarely seen. In addition, forecasts for interest rates projected two to three cuts for the fed funds target rate, which would align our country's monetary policy with a more neutral position. How quickly things can change! With the United States and Israel commencing military action on Iran in late February, the economic uncertainty that we thought was finally behind us heightened to levels even greater than before. Even with all of this concern and uncertainty, our Company was able to achieve growth in its balance sheet in the first quarter ended March 31, 2026. Year-over-year, total assets increased by
Lastly, Greenwood stated, "Relating to the credit-quality metrics for our Company, our combined delinquency and nonaccrual loan levels have increased somewhat year-over-year from the uncharacteristically and historically low levels that we had maintained for several years... but, they did decline slightly from the levels that we reported at December 31, 2025. At quarter-end, March 31, 2026, our Company's nonaccrual loans and loans past due thirty-plus days totaled
Scott A. Everson, Chairman, President and CEO stated, "With a committed and long-term focus of growing our balance sheet in a profitable fashion by investing in the infrastructure of our Company, we are very pleased with the financial results that we achieved in the first quarter ending March 31, 2026. In addition, we are very satisfied with the progress that we are making on the execution of our plan relating to our investment in infrastructural improvements that will help ensure our relevancy for many years to come and help us achieve our vision of becoming a community financial institution with assets of
Everson also stated, "Relating to other infrastructural investments that we have undertaken within the past year or two, our Company's Unified Mortgage Division continues to contribute meaningfully to fee income. As we continue to scale this function with the addition of mortgage loan originators and with the positive operating leverage that presently exits within this developing division... we strongly believe that Unified Mortgage will continue to produce increasingly positive results and become more lucrative for our Company. Unified Mortgage is definitely becoming a known entity amongst the realtors within the markets that we serve. We also continue to invest in and develop our Treasury Management capabilities that help our small business customers with cash management, merchant services and payments. This function not only generates fee income for United Bancorp, Inc. (UBCP); but, also is a key driver of low or no cost deposits and strengthens relationship depth with our commercial customers. No doubt, both of these areas contributed to the increasing levels of noninterest income that we generated during the first quarter of this year--- with the latter also contributing to the growth in our low-cost deposits, which helped lead to the increase in deposit totals and decrease in our interest expense level as of March 31, 2026."
Everson continued, "Over the course of 2025 and into the current year, we have and continue to make a tremendous investment in technology. With our enhanced technological product offering, we now have more customers than ever utilizing our consumer and commercial online and mobile platforms and benefitting from these advanced solutions that we offer-- which has and will continue to lead to more relationship building and revenue generating opportunities for UBCP. Importantly, we have begun developing and are soon to implement an AI solution designed to help us better serve customers by answering inquiries more efficiently and effectively... guiding customers to the best financial solutions and supporting a more modern, customer-centric approach to delivery. To further supplement this aforementioned AI solution, we are presently in the process of implementing a system specializing in omnichannel account opening, that will allow our Company to fully digitize the account opening process through online, mobile and in-branch platforms--- enabling customers, both business and consumer, to open all deposit accounts and most services--- both in person and virtually. These enhanced systems will be housed in our soon-to-open Unified Center (which is located in St. Clairsville, Ohio) and will help support our Customer Care Center that will also be housed at this facility. The Customer Care Center will centralize the customer service function of our Company with team members that are highly skilled and more capable of providing a complete and satisfying "Unified Experience" to customers from any technology platform... via a live video interface. In addition, the Unified Customer Care Center will have a "sales oriented" function, which is anticipated to lead to additional business for our Company by routing inbound banking inquiries and requests from any banking channel to our Customer Care Center, for "in person" consultations with our skilled team members. By having a centralized customer support function staffed with skilled sales and service professionals who are truly "subject matter experts," we believe that we will be able to more effectively and efficiently attract, develop and retain customer relationships with more productive on-boarding and cross-selling practices--- which is anticipated to lead to a higher level of customer satisfaction and overall profitability for UBCP. We anticipate that all of these new technology and support functions will be fully implemented by year-end and believe that the Unified Customer Care Center has the potential to develop into a bona-fide "digital bank" for our Company, which will more readily support our growth and profitability objectives in the coming years!"
Everson further stated, "As always, our primary focus is protecting the investment of our shareholders in our Company and rewarding them in a balanced fashion by growing the value of their investment and paying an attractive cash dividend. In these areas, our shareholders have been nicely rewarded. In the first quarter of this year, UBCP, once again, paid both a regular cash dividend and a special cash dividend to our valued owners. With these first quarter payouts, the regular cash dividend increased year-over-year by
Lastly, Everson concluded, "As you can see, we are currently heavily investing in the infrastructure of our Company to set the stage for future growth and ensure that UBCP remains relevant in the ever-more competitive financial services industry. We firmly believe that within the next twelve to twenty-four months, we will see the return on these investments that we are currently making to improve our operations and delivery. Obviously, such expenditures do have a dilutive impact on the earnings that we produce in the short-term. But, even with this reality, we are very happy with the present performance of our Company. We are grateful that we have produced increasing earnings and have grown our balance sheet in the first quarter of 2026. Over the course of 2026, we anticipate these positive trends will continue. We are truly excited about UBCP's direction and the potential that it brings. With an ongoing focus on continual process improvement, product development and delivery, we strongly believe that the future for our Company is exceedingly bright."
As of March 31, 2026, United Bancorp, Inc. has total assets of
Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements, which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or carry forward-looking statements, whether as a result of new information, future events or otherwise.
Contacts: | Scott A. Everson | Randall M. Greenwood |
Chairman, President and CEO | Senior Vice President, CFO and Treasurer | |
(740) 633-0445, ext. 6154 | (740) 633-0445, ext. 6181 | |
United Bancorp, Inc.
"UBCP"
At or for the Quarter Ended | ||||||||||||||||
March 31, | March 31, | % | $ | |||||||||||||
2026 | 2025 | Change | Change | |||||||||||||
Earnings | ||||||||||||||||
Interest income on loans | $ | 7,269,752 | $ | 7,104,476 | 2.33 | % | $ | 165,276 | ||||||||
Loan fees | 254,962 | 222,722 | 14.48 | % | $ | 32,240 | ||||||||||
Interest income on securities | 2,489,903 | 2,514,990 | -1.00 | % | $ | (25,087 | ) | |||||||||
Total interest income | 10,014,617 | 9,842,188 | 1.75 | % | $ | 172,429 | ||||||||||
Total interest expense | 3,503,434 | 3,596,003 | -2.57 | % | $ | (92,569 | ) | |||||||||
Net interest income | 6,511,183 | 6,246,185 | 4.24 | % | $ | 264,998 | ||||||||||
Provision for credit losses | 30,000 | 96,000 | $ | (66,000 | ) | |||||||||||
Net interest income after provision for credit losses | 6,481,183 | 6,150,185 | 5.38 | % | $ | 330,998 | ||||||||||
Service charge on deposit account | 792,188 | 732,651 | 8.13 | % | $ | 59,537 | ||||||||||
Net realized gains on sale of loans | 98,200 | 84,387 | 16.37 | % | $ | 13,813 | ||||||||||
Net realized gain (loss) on sale of available-for-sale securities | - | 143,625 | $ | (143,625 | ) | |||||||||||
Other noninterest income | 534,424 | 320,747 | 66.62 | % | $ | 213,677 | ||||||||||
Total noninterest income | 1,424,812 | 1,281,410 | 11.19 | % | $ | 143,402 | ||||||||||
Total noninterest expense | 6,155,243 | 5,586,076 | 10.19 | % | $ | 569,167 | ||||||||||
Income tax (benefit) expense | (160,064 | ) | (26,353 | ) | 507.38 | % | $ | (133,711 | ) | |||||||
Net income | $ | 1,910,816 | $ | 1,871,872 | 2.08 | % | $ | 38,944 | ||||||||
Key performance data | ||||||||||||||||
Earnings per common share - Basic | $ | 0.33 | $ | 0.32 | 3.13 | % | $ | 0.010 | ||||||||
Earnings per common share - Diluted | 0.33 | 0.32 | 3.13 | % | $ | 0.010 | ||||||||||
Cash dividends paid | 0.3675 | 0.3575 | 2.80 | % | $ | 0.01000 | ||||||||||
Stock data | ||||||||||||||||
Dividend payout ratio (without special dividend) | 58.33 | % | 57.03 | % | 1.30 | % | ||||||||||
Price earnings ratio | 11.52 | x | 10.48 | x | 9.90 | % | ||||||||||
Market price to book value | 135 | % | 132 | % | 2.30 | % | ||||||||||
Annualized yield based on quarter end close (without special dividend) | 5.06 | % | 5.44 | % | -6.99 | % | ||||||||||
Market value - last close (end of period) | 15.21 | 13.42 | 13.34 | % | ||||||||||||
Book value (end of period) | 11.29 | 10.19 | 10.79 | % | ||||||||||||
Tangible book value (end of period) | 11.18 | 10.06 | 11.13 | % | ||||||||||||
Shares Outstanding | ||||||||||||||||
Average - Basic | 5,497,474 | 5,566,428 | -------- | |||||||||||||
Average - Diluted | 5,497,474 | 5,566,428 | -------- | |||||||||||||
Common stock, shares issued | 6,263,141 | 6,203,141 | -------- | |||||||||||||
Shares held as treasury stock | 287,140 | 240,544 | -------- | |||||||||||||
Return on average assets (ROA) | 0.89 | % | 0.91 | % | -0.02 | % | ||||||||||
Return on average equity (ROE) | 11.32 | % | 12.31 | % | -0.99 | % | ||||||||||
At quarter end | ||||||||||||||||
Total assets | $ | 858,499,135 | $ | 830,681,164 | 3.35 | % | $ | 27,817,971 | ||||||||
Total assets (average) | 856,687,000 | 822,424,000 | 4.17 | % | $ | 34,263,000 | ||||||||||
Cash and due from Federal Reserve Bank | 27,239,806 | 36,402,686 | -25.17 | % | $ | (9,162,880 | ) | |||||||||
Average cash and due from Federal Reserve Bank | 27,118,000 | 26,036,000 | 4.16 | % | $ | 1,082,000 | ||||||||||
Securities and other restricted stock | 239,893,178 | 233,868,149 | 2.58 | % | $ | 6,025,029 | ||||||||||
Average securities and other restricted stock | 243,578,000 | 241,013,000 | 1.06 | % | $ | 2,565,000 | ||||||||||
Bank-owned life insurance | 38,238,704 | 19,954,627 | 91.63 | % | $ | 18,284,077 | ||||||||||
Other real estate and repossessions (OREO) | 2,540,000 | 3,327,610 | -23.67 | % | $ | (787,610 | ) | |||||||||
Gross loans | 500,339,204 | 496,866,008 | 0.70 | % | $ | 3,473,196 | ||||||||||
Allowance for credit losses | 4,250,241 | 4,094,556 | 3.80 | % | $ | 155,685 | ||||||||||
Net loans | 496,088,963 | 492,771,452 | 0.67 | % | $ | 3,317,511 | ||||||||||
Average loans | 501,784,000 | 493,056,000 | 1.77 | % | $ | 8,728,000 | ||||||||||
Net loans recovered (charged-off) | (16,214 | ) | (3,070 | ) | 428.14 | % | $ | (13,144 | ) | |||||||
Net overdrafts (charged-off ) | (24,855 | ) | (24,632 | ) | 0.91 | % | $ | (223 | ) | |||||||
Total net (charge offs ) | (41,069 | ) | (27,702 | ) | 48.25 | % | $ | (13,367 | ) | |||||||
Nonaccrual loans | 6,478,613 | 1,937,543 | 234.37 | % | $ | 4,541,070 | ||||||||||
Loans past due 30+ days (excludes non accrual loans) | 344,222 | 903,909 | -61.92 | % | $ | (559,687 | ) | |||||||||
Total Deposits | ||||||||||||||||
Noninterest bearing demand | 155,398,881 | 138,243,804 | 12.41 | % | $ | 17,155,077 | ||||||||||
Interest bearing demand | 193,415,825 | 184,786,353 | 4.67 | % | $ | 8,629,472 | ||||||||||
Savings | 125,818,547 | 124,244,385 | 1.27 | % | $ | 1,574,162 | ||||||||||
Time < $250,000 | 147,321,096 | 135,551,749 | 8.68 | % | $ | 11,769,347 | ||||||||||
Time > | 44,702,815 | 41,254,902 | 8.36 | % | $ | 3,447,913 | ||||||||||
Total Deposits | 666,657,164 | 624,081,193 | 6.82 | % | $ | 42,575,971 | ||||||||||
Average total deposits | 652,552,000 | 615,678,000 | 5.99 | % | $ | 36,874,000 | ||||||||||
Advances from the Federal Home Loan Bank | 55,000,000 | 75,000,000 | N/A | $ | (20,000,000 | ) | ||||||||||
Term advances | 55,000,000 | 75,000,000 | -26.67 | % | $ | (20,000,000 | ) | |||||||||
Repurchase Agreements | 35,596,181 | 37,564,822 | -5.24 | % | $ | (1,968,641 | ) | |||||||||
Shareholders' equity | 67,498,833 | 60,801,220 | 11.02 | % | $ | 6,697,613 | ||||||||||
Common Stock, Additional Paid in Capital | 33,512,368 | 32,745,743 | 2.34 | % | $ | 766,625 | ||||||||||
Retained Earnings | 48,290,856 | 46,045,586 | 4.88 | % | $ | 2,245,270 | ||||||||||
Shares held by Deferred Plan and Treasury Stock | (6,496,002 | ) | (5,455,374 | ) | 19.08 | % | $ | (1,040,628 | ) | |||||||
Accumulated other comprehensive loss, net of taxes | (7,808,389 | ) | (12,534,735 | ) | -37.71 | % | $ | 4,726,346 | ||||||||
Goodwill and intangible assets (impact on Shareholders' equity | (682,493 | ) | (767,293 | ) | -11.05 | % | $ | 84,800 | ||||||||
Tangible shareholders' equity | 66,816,340 | 60,033,927 | 11.30 | % | $ | 6,782,413 | ||||||||||
Shareholders' equity (average) | 67,499,000 | 60,801,000 | 11.02 | % | $ | 6,698,000 | ||||||||||
Key performance ratios | ||||||||||||||||
Net interest margin (Federal tax equivalent) | 3.72 | % | 3.60 | % | 0.12 | % | ||||||||||
Interest expense to average assets | 1.64 | % | 1.75 | % | -0.11 | % | ||||||||||
Total allowance for credit losses | ||||||||||||||||
to nonaccrual loans | 65.60 | % | 211.33 | % | -145.72 | % | ||||||||||
Total allowance for credit losses | ||||||||||||||||
to total loans | 0.85 | % | 0.82 | % | 0.03 | % | ||||||||||
Total past due and nonaccrual loans to gross loans | 1.36 | % | 0.57 | % | 0.79 | % | ||||||||||
Nonperforming assets to total assets | 1.05 | % | 0.68 | % | 0.37 | % | ||||||||||
Net charge-offs to average loans | -0.03 | % | -0.02 | % | -0.01 | % | ||||||||||
Equity to assets at period end | 7.86 | % | 7.32 | % | 0.54 | % | ||||||||||
SOURCE: United Bancorp, Inc. (Ohio)
View the original press release on ACCESS Newswire