Welcome to our dedicated page for United Bancshares news (Ticker: UBOH), a resource for investors and traders seeking the latest updates and insights on United Bancshares stock.
United Bancshares, Inc. reports news as a Columbus Grove, Ohio financial holding company and the parent of The Union Bank Company. The company’s updates center on community banking activity across Northwest and Central Ohio, including branch banking, Interactive Teller Machines, client relationships, commercial and retail banking service delivery, and technology used in bank operations.
Recurring announcements cover quarterly and annual results, cash dividend declarations, loan and deposit trends, net interest income and margin, asset quality, liquidity, allowance for credit losses, and capital actions such as share repurchases. Company communications also discuss banking-industry conditions, interest-rate effects, local-market competition, and the performance of its OTCQX-traded common stock under the symbol UBOH.
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United Bancshares, Inc. (OTC-PINK: UBOH) declared a quarterly cash dividend of $0.22 per share, a 4.8% increase from the prior year, payable on June 15, 2023, to shareholders of record on May 31, 2023. The first-quarter net income decreased to $1.9 million from $2.5 million year-over-year, reflecting basic earnings per share of $0.60, down from $0.77. Key performance metrics include a return on average assets of 0.69%, down from 0.94%, while return on average tangible equity rose to 13.44%. The bank experienced significant deposit growth of $22.3 million, and improved asset quality with a reduction in non-performing loans by 6.5%.
United Bancshares, Inc. (OTCQX: UBOH) reported its financial results for Q4 and full year 2022. For Q4, net income rose to $3,534,000, or $1.10 per share, a 30.1% increase from the prior year, mainly due to an $730,000 rise in net interest income and $1,000,000 decrease in provision for loan losses. However, non-interest income saw a sharp decline of 41.5% to $1,825,000. Yearly net income fell 16.7% to $11,310,000 with earnings per share at $3.47. Key metrics included a 12.1% rise in loans and a 30.6% drop in shareholders' equity due to unrealized losses attributed to rising interest rates.
United Bancshares, Inc. (OTCQX: UBOH) reported third-quarter 2022 net income of $3,086,000, or $0.94 EPS, down 24.6% from $4,092,000 or $1.25 EPS in Q3 2021. This decline was driven by a $1,889,000 (40.1%) drop in non-interest income and a $574,000 (5.8%) decrease in net interest income. Year-to-date, net income fell to $7,776,000, or $2.37 EPS, a 28.4% decline compared to $10,863,000 or $3.31 EPS in 2021. Total assets decreased 1.6% to $1.06 billion, while deposits increased 3.3% to $960.8 million. Shareholders' equity dropped 38.0% to $73.8 million, influenced by unrealized losses on securities.
On July 25, 2022, United Bancshares, Inc. (NASDAQ: UBOH) announced its decision to voluntarily delist its common stock from the NASDAQ Capital Market and deregister with the SEC. The filing of Form 25 is expected around August 17, 2022, with trading ceasing on NASDAQ by August 26, 2022. The company plans to transition to the OTCQX Market by August 29, 2022. This decision aims to cut costs related to SEC reporting and compliance, as the company has fewer than 1,200 shareholders. While maintaining independent audits, the company will provide financial information through press releases and online posting.
United Bancshares, Inc. (NASDAQ: UBOH) announced the appointment of Dr. Jane Wood, President of Bluffton University, to its Board of Directors, effective after the annual meeting on April 28, 2021. CEO Brian D. Young expressed enthusiasm about Dr. Wood's integrity, energy, and community involvement. Dr. Wood, who has been President since 2018, is committed to fostering relationships in rural communities. She holds advanced degrees in English literature and actively participates in various local organizations.
United Bancshares, Inc. (UBOH) reported strong financial results for the first quarter of 2021, with a pretax net income of $5.0 million, demonstrating significant growth compared to the previous year. Key metrics included a Return on Average Assets of 1.66% and a Return on Average Tangible Equity of 19.94%. Earnings per share reached $1.26. The Board declared a $0.17 per share dividend, a 6.25% increase from the last quarter. Additionally, the company facilitated $48.4 million in Paycheck Protection Program loans, leading to $3.8 million in loan fees, enhancing its overall financial position.
United Bancshares, Inc. (NASDAQ: UBOH) reported record net income of $13.8 million for 2020, up $3.1 million from 2019. Earnings per share increased to $4.21, a rise of $0.95. The company's returns on average total assets and shareholders' equity were 1.42% and 13.53%, respectively. Key contributors to these results included $15.1 million from loan sales and $2.4 million from Paycheck Protection Program fees. United Bancshares also prepaid its long-term debt and improved its loan loss allowance.