United Bancorp, Inc. Reports Increases For 2026 Second Quarter and Six-Month Earnings Performance
Rhea-AI Summary
United Bancorp (NASDAQ:UBCP) reported Q2 2026 diluted EPS of $0.36 and net income of $2.095 million, up 9.1% and 9.4% year-over-year, respectively. For the first six months, diluted EPS was $0.69 and net income $4.006 million, increases of 6.2% and 5.8%.
As of June 30, 2026, total assets rose 3.6% year-over-year to $878.0 million, driven by higher securities and bank-owned life insurance, while deposits grew 6.8% to $686.9 million, with 70.2% in lower-cost accounts. Net interest income increased 5.2% and net interest margin expanded 17 bps to 3.82%, supported by a 5.1% decline in interest expense.
Credit quality showed combined nonaccrual and 30+ day past-due loans of $6.9 million (1.4% of gross loans), up $4.7 million year-over-year, largely from one $4.2 million commercial relationship. Regulatory capital was $76.0 million (8.7% of average assets). The company raised its regular quarterly dividend to $0.195 and also paid a $0.175 special dividend, implying forward yields of 4.9% and 6.0% based on a June 30, 2026 share price of $15.88.
Positive
- Q2 2026 EPS $0.36, net income $2.095 million; both up ~9% year-over-year
- Six‑month 2026 EPS $0.69, net income $4.006 million; up 6.2% and 5.8% year-over-year
- Net interest income +$673,000 (5.2%) and net interest margin +17 bps to 3.82% year-over-year
- Total deposits +$44.0 million (6.8%) in first half 2026 to $686.9 million, with 70.2% low-cost balances
- Total interest expense −$380,000 (5.1%) year-over-year; interest expense to average assets down 17 bps to 1.62%
- Total assets +$30.1 million (3.6%) year-over-year to $878.0 million as of June 30, 2026
- Regulatory capital $76.0 million, 8.7% of average assets; up $1.8 million (2.5%) year-over-year
- Regular quarterly dividend $0.195, up 5.4% year-over-year, plus $0.175 special dividend in Q1 2026
- Stock price $15.88 at June 30, 2026, up $1.38 or 9.5% year-over-year
Negative
- Nonaccrual and 30+ day past‑due loans $6.9 million (1.4% of gross loans), up $4.7 million year-over-year
- Single commercial relationship ~$4.2 million moved to nonaccrual in Q1 2026, driving most NPL increase
- Transformative infrastructure and technology projects are acknowledged as presently dilutive to earnings, despite overall growth
News Explained
UBCP says it has begun developing an AI customer-support tool and is implementing omnichannel account opening, with the related Unified Center and customer-care functions targeted for full implementation by year-end; the disclosed consequence is additional operating infrastructure, while completion remains prospective.
Key Figures
Historical Context
| Date | Event | Sentiment | 24h Move | Catalyst |
|---|---|---|---|---|
| May 07 | First-quarter earnings | Positive | +1.9% | First-quarter EPS and net income increased year over year. |
| Apr 23 | Dividend increase | Positive | +0.7% | Second-quarter cash dividend increased $0.01, or 5.4%, year over year. |
| Feb 19 | Dividend declaration | Positive | +1.4% | Quarterly and special cash dividends were declared for shareholders. |
| Feb 03 | Fourth-quarter earnings | Positive | +1.4% | Fourth-quarter and full-year EPS and net income increased year over year. |
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
All four provided recent news events had positive 24-hour price reactions, including the prior quarterly earnings report.
Key Terms
net interest margin financial
nonaccrual loans financial
regulatory capital regulatory
basis points financial
bank owned life insurance financial
AI-generated analysis. How Rhea-AI works. Not financial advice.
MARTINS FERRY, OH / ACCESS Newswire / July 23, 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 increased earnings for the second quarter ended June 30, 2026 and, the overall solid performance achieved by United Bancorp, Inc. (UBCP) for the first six months of 2026. For the quarter, our Company produced net income and diluted earnings per share 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 behind us 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 for the six-months ended June 30, 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, June 30, 2026, our Company's nonaccrual loans and loans past due thirty-plus days totaled
Scott A. Everson, Chairman, President and CEO stated, "With our 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 current year as of June 30, 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 focus on further scaling this function with the addition of mortgage loan originators--- and, considering the positive operating leverage that presently exists 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 half 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 June 30, 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 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 Unified Care Center that will also be housed at this facility. The Unified 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 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 Unified 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 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 second quarter of this year, UBCP paid a regular cash dividend at a level of
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 a solid return on these investments that we have made and are currently implementing 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 six months of 2026. In the second half 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 June 30, 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.
United Bancorp, Inc. ("UBCP")
For the Three Months Ended June 30, | % | $ | ||||||||||||||
2026 | 2025 | Change | Change | |||||||||||||
Earnings | ||||||||||||||||
Interest income on loans | $ | 7,503,298 | $ | 7,406,005 | 1.31 | % | $ | 97,293 | ||||||||
Loan fees | 371,894 | 274,561 | 35.45 | % | $ | 97,333 | ||||||||||
Interest income on securities | 2,657,049 | 2,730,779 | -2.70 | % | $ | (73,730 | ) | |||||||||
Total interest income | 10,532,241 | 10,411,345 | 1.16 | % | $ | 120,896 | ||||||||||
Total interest expense | 3,528,416 | 3,815,466 | -7.52 | % | $ | (287,050 | ) | |||||||||
Net interest income | 7,003,825 | 6,595,879 | 6.18 | % | $ | 407,946 | ||||||||||
Provision for credit losses - loans | 126,000 | 206,000 | -38.83 | % | $ | (80,000 | ) | |||||||||
Credit for credit losses - off balance sheet commitments | - | - | N/A | $ | - | |||||||||||
Provision for credit loss expense | 126,000 | 206,000 | ||||||||||||||
Net interest income after Provision for credit losses | 6,877,825 | 6,389,879 | 7.64 | % | $ | 487,946 | ||||||||||
Service charges on deposit accounts | 846,793 | 801,652 | 5.63 | % | $ | 45,141 | ||||||||||
Net realized gains on sale of available-for-sale securities | - | - | N/A | $ | - | |||||||||||
Net realized gains on sale of loans | 230,799 | 140,698 | 64.04 | % | $ | 90,101 | ||||||||||
Earnings on bank-owned life insurance | 412,598 | 186,411 | $ | 226,187 | ||||||||||||
Other noninterest income | 127,464 | 260,701 | -51.11 | % | $ | (133,237 | ) | |||||||||
Total noninterest income | 1,617,654 | 1,389,462 | 16.42 | % | $ | 228,192 | ||||||||||
Total noninterest expense | 6,434,682 | 5,842,181 | 10.14 | % | $ | 592,501 | ||||||||||
Earnings before income taxes | 2,060,797 | 1,937,160 | 6.38 | % | $ | 123,637 | ||||||||||
Income tax (benefit) expense | (33,941 | ) | 22,647 | -249.87 | % | $ | (56,588 | ) | ||||||||
Net income | $ | 2,094,738 | $ | 1,914,513 | 9.41 | % | $ | 180,225 | ||||||||
Per share | ||||||||||||||||
Earnings per common share - Basic | $ | 0.36 | $ | 0.33 | 9.09 | % | ||||||||||
Earnings per common share - Diluted | 0.36 | 0.33 | 9.09 | % | ||||||||||||
Cash dividends paid | 0.1950 | 0.1850 | 5.41 | % | ||||||||||||
Shares Outstanding | ||||||||||||||||
Average - Basic | 5,473,340 | 5,629,558 | -------- | |||||||||||||
Average - Diluted | 5,473,340 | 5,629,558 | -------- | |||||||||||||
For the Six Months Ended June 30, | % | |||||||||||||||
2026 | 2025 | Change | ||||||||||||||
Earnings | ||||||||||||||||
Interest income on loans | $ | 14,773,049 | $ | 14,510,480 | 1.81 | % | $ | 262,569 | ||||||||
Loan fees | 626,856 | 497,283 | 26.06 | % | $ | 129,573 | ||||||||||
Interest income on securities | 5,146,953 | 5,245,769 | -1.88 | % | $ | (98,816 | ) | |||||||||
Total interest income | 20,546,858 | 20,253,532 | 1.45 | % | $ | 293,326 | ||||||||||
Total interest expense | 7,031,850 | 7,411,470 | -5.12 | % | $ | (379,620 | ) | |||||||||
Net interest income | 13,515,008 | 12,842,062 | 5.24 | % | $ | 672,946 | ||||||||||
Provision for credit losses - loans | 156,000 | 302,000 | -48.34 | % | $ | (146,000 | ) | |||||||||
Credit for credit losses - off balance sheet commitments | - | - | N/A | |||||||||||||
Provision for credit loss expense | 156,000 | 302,000 | -48.34 | % | $ | (146,000 | ) | |||||||||
Net interest income after provision for credit losses | 13,359,008 | 12,540,062 | 6.53 | % | $ | 818,946 | ||||||||||
Service charges on deposit accounts | 1,638,981 | 1,534,303 | 6.82 | % | $ | 104,678 | ||||||||||
Net realized gain (loss) on sale of available-for-sale securities | - | 143,625 | N/A | $ | (143,625 | ) | ||||||||||
Net realized gain on sale of loans | 328,999 | 225,085 | 46.17 | % | $ | 103,914 | ||||||||||
Earnings on bank-owned life insurance | 837,730 | 379,530 | 120.73 | % | $ | 458,200 | ||||||||||
Other noninterest income | 236,757 | 388,331 | -39.03 | % | $ | (151,574 | ) | |||||||||
Total noninterest income | 3,042,467 | 2,670,874 | 13.91 | % | $ | 371,593 | ||||||||||
Total noninterest expense | 12,589,925 | 11,428,257 | 10.16 | % | $ | 1,161,668 | ||||||||||
Earnings before income taxes | 3,811,550 | 3,782,679 | 0.76 | % | $ | 28,871 | ||||||||||
Income tax (benefit) expense | (194,005 | ) | (3,706 | ) | 5134.89 | % | $ | (190,299 | ) | |||||||
Net income | $ | 4,005,555 | $ | 3,786,385 | 5.79 | % | $ | 219,170 | ||||||||
Per share | ||||||||||||||||
Earnings per common share - Basic | $ | 0.69 | $ | 0.65 | 6.15 | % | ||||||||||
Earnings per common share - Diluted | 0.69 | 0.65 | 6.15 | % | ||||||||||||
Cash dividends paid | 0.5625 | 0.5425 | 3.69 | % | ||||||||||||
Annualized yield based on quarter end close (excluding special dividend) | 4.89 | % | 5.09 | % | -0.20 | % | ||||||||||
Shares Outstanding | ||||||||||||||||
Average - Basic | 5,489,495 | 5,565,391 | -------- | |||||||||||||
Average - Diluted | 5,489,495 | 5,565,391 | -------- | |||||||||||||
Common stock, shares issued | 6,253,141 | 6,188,141 | -------- | |||||||||||||
Shares held as Treasury | 308,497 | 236,863 | -------- | |||||||||||||
At quarter end | ||||||||||||||||
Total assets | $ | 877,971,896 | $ | 847,884,370 | 3.55 | % | $ | 30,087,526 | ||||||||
Total assets (average) | 869,676,000 | 829,327,000 | 4.87 | % | $ | 40,349,000 | ||||||||||
Other real estate and repossessions ("OREO") | 2,261,348 | 3,275,530 | -30.96 | % | $ | (1,014,182 | ) | |||||||||
Gross loans | 495,733,596 | 500,747,168 | -1.00 | % | $ | (5,013,572 | ) | |||||||||
Allowance for credit losses | 4,355,770 | 4,156,314 | 4.80 | % | $ | 199,456 | ||||||||||
Net loans | 491,377,826 | 496,590,854 | -1.05 | % | $ | (5,213,028 | ) | |||||||||
Non-accrual loans | 6,407,146 | 1,797,604 | 256.43 | % | $ | 4,609,542 | ||||||||||
Loans past due 30+ days (excludes non accrual loans) | 530,598 | 445,206 | 19.18 | % | $ | 85,392 | ||||||||||
Net loans charged-off | 6,709 | 121,978 | -94.50 | % | $ | (115,269 | ) | |||||||||
Net overdrafts charged-off | 54,831 | 49,966 | 9.74 | % | $ | 4,865 | ||||||||||
Net charge-offs | 61,540 | 171,944 | -64.21 | % | $ | (110,404 | ) | |||||||||
Average loans | 502,047,000 | 496,195,000 | 1.18 | % | $ | 5,852,000 | ||||||||||
Cash and due from Federal Reserve Bank | 45,984,034 | 49,686,199 | -7.45 | % | $ | (3,702,165 | ) | |||||||||
Average cash and due from Federal Reserve Bank | 35,305,000 | 36,085,000 | -2.16 | % | $ | (780,000 | ) | |||||||||
Securities and other restricted stock | 244,331,978 | 231,281,988 | 5.64 | % | $ | 13,049,990 | ||||||||||
Average securities and other restricted stock | 243,184,000 | 235,680,000 | 3.18 | % | $ | 7,504,000 | ||||||||||
Bank owned life insurance | 38,545,040 | 20,053,683 | 92.21 | % | $ | 18,491,357 | ||||||||||
Total deposits | 686,944,826 | 642,944,191 | 6.84 | % | $ | 44,000,635 | ||||||||||
Non interest bearing demand | 158,493,045 | 148,476,554 | 6.75 | % | $ | 10,016,491 | ||||||||||
Interest bearing demand | 192,687,391 | 178,984,193 | 7.66 | % | $ | 13,703,198 | ||||||||||
Savings | 130,763,637 | 123,688,804 | 5.72 | % | $ | 7,074,833 | ||||||||||
Time < $250,000 | 156,759,544 | 148,475,372 | 5.58 | % | $ | 8,284,172 | ||||||||||
Time > | 48,241,209 | 43,319,268 | 11.36 | % | $ | 4,921,941 | ||||||||||
Average total deposits | 668,544,000 | 625,746,000 | 6.84 | % | $ | 42,798,000 | ||||||||||
Advances from the Federal Home Loan Bank | 55,000,000 | 75,000,000 | -26.67 | % | $ | (20,000,000 | ) | |||||||||
Overnight advances | - | - | N/A | $ | - | |||||||||||
Term advances | 55,000,000 | 75,000,000 | N/A | $ | (20,000,000 | ) | ||||||||||
Subordinated debt (net of unamortized issuance costs) | 23,938,907 | 23,878,031 | 0.25 | % | $ | 60,876 | ||||||||||
Securities sold under agreements to repurchase | 29,387,763 | 35,600,399 | -17.45 | % | $ | (6,212,636 | ) | |||||||||
Stockholders' equity | 72,088,030 | 59,657,076 | 20.84 | % | $ | 12,430,954 | ||||||||||
Goodwill and intangible assets (impact on Stockholders' equity) | 682,493 | 729,793 | -6.48 | % | $ | (47,300 | ) | |||||||||
Tangible stockholders' equity | 71,405,537 | 58,927,283 | 21.18 | % | $ | 12,478,254 | ||||||||||
Accumulated other comprehensive loss (AOCI) impact on Stockholders' equity | (3,909,481 | ) | (14,496,096 | ) | -73.03 | % | $ | 10,586,615 | ||||||||
Stockholders' equity (average) | 70,782,000 | 59,626,000 | 18.71 | % | $ | 11,156,000 | ||||||||||
Stock data | ||||||||||||||||
Market value - last close (end of period) | $ | 15.88 | $ | 14.50 | 9.52 | % | ||||||||||
Dividend payout ratio (excludes special dividends paid) | 56.16 | % | 56.54 | % | -0.38 | % | ||||||||||
Price earnings ratio | 11.51 | x | 11.15 | x | 2.00 | % | ||||||||||
Book value per share | $ | 12.13 | $ | 10.02 | 21.06 | % | ||||||||||
Tangible book value per share | $ | 12.01 | $ | 9.89 | 21.44 | % | ||||||||||
Market price to book value | 130.92 | % | 144.71 | % | -13.80 | % | ||||||||||
Market price to tangible book value | 132.22 | % | 146.61 | % | -14.40 | % | ||||||||||
Key performance ratios | ||||||||||||||||
Return on average assets (ROA) | 0.92 | % | 0.91 | % | 0.01 | % | ||||||||||
Return on average equity (ROE) | 11.32 | % | 12.70 | % | -1.38 | % | ||||||||||
Net interest margin (federal tax equivalent)) | 3.82 | % | 3.65 | % | 0.17 | % | ||||||||||
Interest expense to average assets | 1.62 | % | 1.79 | % | -0.17 | % | ||||||||||
Total allowance for credit losses | ||||||||||||||||
to nonaccrual loans | 67.98 | % | 231.21 | % | -163.23 | % | ||||||||||
Total allowance for credit losses | ||||||||||||||||
to total loans | 0.88 | % | 0.83 | % | 0.05 | % | ||||||||||
Total past due and nonaccrual loans to gross loans | 1.40 | % | 0.45 | % | 0.95 | % | ||||||||||
Nonperforming assets to total assets | 0.99 | % | 0.60 | % | 0.39 | % | ||||||||||
Net charge-offs to average loans | 0.02 | % | 0.07 | % | -0.05 | % | ||||||||||
Equity to assets at period end | 8.21 | % | 7.04 | % | 1.17 | % | ||||||||||
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 | |||
SOURCE: United Bancorp, Inc. (Ohio)
View the original press release on ACCESS Newswire