UNITED BANCSHARES, INC. ANNOUNCES FIRST QUARTER 2025 RESULTS AND $0.23 DIVIDEND
United Bancshares (OTCQX: UBOH) has reported strong first quarter 2025 results, with net income of $2.8 million ($0.94 per share), marking a significant increase from $1.8 million ($0.61 per share) in Q1 2024. The company announced a quarterly cash dividend of $0.23 per share, representing a 4.5% increase and yielding 3.23% based on Q1 average closing price.
Key performance metrics showed notable improvements, with return on average assets rising to 0.94% from 0.69%, and return on average tangible equity increasing to 15.78% from 11.33% year-over-year. The net interest margin expanded to 3.59% from 3.03%. The bank achieved loan growth of $17.9 million (9.4% annualized) and deposit growth of $3.9 million (1.5% annualized) since December 2024, while maintaining strong asset quality with stable non-performing loans and historically low charge-offs.
United Bancshares (OTCQX: UBOH) ha riportato risultati solidi nel primo trimestre 2025, con un utile netto di 2,8 milioni di dollari (0,94 dollari per azione), segnando un aumento significativo rispetto a 1,8 milioni di dollari (0,61 dollari per azione) nel primo trimestre 2024. La società ha annunciato un dividendo trimestrale in contanti di 0,23 dollari per azione, che rappresenta un incremento del 4,5% e un rendimento del 3,23% basato sul prezzo medio di chiusura del primo trimestre.
I principali indicatori di performance hanno mostrato miglioramenti rilevanti, con il rendimento medio delle attività salito allo 0,94% dal 0,69% e il rendimento medio del capitale tangibile aumentato al 15,78% dall’11,33% su base annua. Il margine di interesse netto si è ampliato al 3,59% dal 3,03%. La banca ha registrato una crescita dei prestiti di 17,9 milioni di dollari (9,4% su base annua) e una crescita dei depositi di 3,9 milioni di dollari (1,5% su base annua) da dicembre 2024, mantenendo una solida qualità degli attivi con prestiti non performanti stabili e storicamente bassi accantonamenti per perdite.
United Bancshares (OTCQX: UBOH) ha reportado sólidos resultados en el primer trimestre de 2025, con un ingreso neto de 2.8 millones de dólares (0.94 dólares por acción), lo que representa un aumento significativo desde 1.8 millones de dólares (0.61 dólares por acción) en el primer trimestre de 2024. La compañía anunció un dividendo trimestral en efectivo de 0.23 dólares por acción, un incremento del 4.5% que genera un rendimiento del 3.23% basado en el precio promedio de cierre del primer trimestre.
Los indicadores clave mostraron mejoras notables, con el retorno sobre activos promedio aumentando a 0.94% desde 0.69%, y el retorno sobre el capital tangible promedio incrementándose a 15.78% desde 11.33% interanual. El margen neto de interés se expandió a 3.59% desde 3.03%. El banco logró un crecimiento en préstamos de 17.9 millones de dólares (9.4% anualizado) y en depósitos de 3.9 millones de dólares (1.5% anualizado) desde diciembre de 2024, manteniendo una sólida calidad de activos con préstamos en mora estables y bajas provisiones históricas.
United Bancshares (OTCQX: UBOH)는 2025년 1분기에 순이익 280만 달러 (주당 0.94달러)을 기록하며 2024년 1분기 180만 달러 (주당 0.61달러) 대비 크게 증가한 견고한 실적을 발표했습니다. 회사는 분기별 현금 배당금으로 주당 0.23달러를 발표했으며, 이는 4.5% 인상된 수치로 1분기 평균 종가 기준 3.23%의 배당수익률을 나타냅니다.
주요 성과 지표도 눈에 띄게 개선되어 평균 자산 수익률이 0.69%에서 0.94%로 상승했고, 평균 유형자본 수익률은 전년 동기 대비 11.33%에서 15.78%로 증가했습니다. 순이자마진은 3.03%에서 3.59%로 확대되었습니다. 은행은 2024년 12월 이후 대출이 1,790만 달러(연율 9.4%) 증가했고, 예금도 390만 달러(연율 1.5%) 증가했으며, 부실채권은 안정적이고 과거에 비해 매우 낮은 대손충당금을 유지하며 자산 건전성을 견고히 했습니다.
United Bancshares (OTCQX: UBOH) a annoncé de solides résultats pour le premier trimestre 2025, avec un revenu net de 2,8 millions de dollars (0,94 dollar par action), marquant une augmentation significative par rapport à 1,8 million de dollars (0,61 dollar par action) au premier trimestre 2024. La société a déclaré un dividende trimestriel en espèces de 0,23 dollar par action, représentant une hausse de 4,5 % et un rendement de 3,23 % basé sur le cours moyen de clôture du premier trimestre.
Les indicateurs clés de performance ont montré des améliorations notables, avec un retour sur actifs moyens passant de 0,69 % à 0,94 %, et un retour sur capitaux tangibles moyens augmentant de 11,33 % à 15,78 % sur un an. La marge nette d’intérêt s’est élargie à 3,59 % contre 3,03 %. La banque a réalisé une croissance des prêts de 17,9 millions de dollars (9,4 % annualisé) et des dépôts de 3,9 millions de dollars (1,5 % annualisé) depuis décembre 2024, tout en maintenant une forte qualité d’actifs avec des prêts non performants stables et des pertes sur créances historiquement faibles.
United Bancshares (OTCQX: UBOH) hat starke Ergebnisse für das erste Quartal 2025 gemeldet, mit einem Nettoeinkommen von 2,8 Millionen US-Dollar (0,94 US-Dollar je Aktie), was einen deutlichen Anstieg gegenüber 1,8 Millionen US-Dollar (0,61 US-Dollar je Aktie) im ersten Quartal 2024 darstellt. Das Unternehmen kündigte eine vierteljährliche Bardividende von 0,23 US-Dollar je Aktie an, was einer Steigerung von 4,5 % entspricht und auf dem durchschnittlichen Schlusskurs des ersten Quartals eine Rendite von 3,23 % ergibt.
Wichtige Leistungskennzahlen zeigten deutliche Verbesserungen, wobei die Rendite auf das durchschnittliche Vermögen von 0,69 % auf 0,94 % stieg und die Rendite auf das durchschnittliche materielle Eigenkapital von 11,33 % auf 15,78 % im Jahresvergleich zunahm. Die Nettozinsmarge erhöhte sich von 3,03 % auf 3,59 %. Die Bank erzielte seit Dezember 2024 ein Kreditwachstum von 17,9 Millionen US-Dollar (annualisiert 9,4 %) und ein Einlagenwachstum von 3,9 Millionen US-Dollar (annualisiert 1,5 %), während sie eine starke Vermögensqualität mit stabilen notleidenden Krediten und historisch niedrigen Abschreibungen beibehielt.
- Net income increased by $959,000 to $2.8 million (52% YoY growth)
- Quarterly dividend increased by 4.5% to $0.23 per share
- Net interest margin improved significantly to 3.59% from 3.03%
- Strong loan growth at 9.4% annualized rate
- Return on average tangible equity increased to 15.78% from 11.33%
- Asset quality remains strong with historically low charge-offs
- Modest deposit growth of only 1.5% annualized rate
- Quarterly cash dividend declared of
$0.23 4.5% increase, for shareholders of record on May 30, 2025, payable on June 16, 2025. Based on the average closing price for the first quarter, this is a3.23% dividend yield. - Net income of
$2.8 million $0.94 $959,000 $1.8 million $0.61 - Return on average assets of
0.94% for the 2025 first quarter, an increase from0.69% in the comparable period in 2024. - Return on average tangible equity of
15.78% for the 2025 first quarter, an increase from11.33% in the comparable period in 2024. - Net interest margin of
3.59% for the 2025 first quarter, an increase from3.03% in the comparable period in 2024. - Loan growth of
$17.9 million 9.4% from December 31, 2024. - Deposit growth of
$3.9 million 1.5% from December 31, 2024. - Asset quality metrics remain strong with stable non-performing and classified loans. Charge-offs remain at historically low levels through March 31, 2025.
About The Union Bank Company:
Since 1904, The Union Bank Company has been here to provide full-service banking to the people and businesses throughout the communities we serve. Today, the bank has 14 full-service branch locations across Northwest and
Contact:
Brian D. Young, President and CEO
Klint D. Manz, Chief Financial Officer
419.659.2141
United Bancshares, Inc.
Quarterly Report
March 31, 2025
Shareholders, Clients, and Team Members:
I am pleased to report that your Company had a strong start to 2025 with reported net income of
As a result of these successes, the Board of Directors declared a
Throughout 2025, we plan to continue to grow the number and size of client relationships, introduce an all-new digital platform for our clients, provide clients weekday access to a live teller from 7am – 7pm at all our locations as well as online chat, and identify new technology to create internal efficiencies. While we expect to offer all these services and technology enhancements, we do not expect to see an increase in costs because of new and renegotiated vendor contracts and technology implementation. We believe that effectively implementing technology will promote growth and provide the opportunity to increase the effectiveness of our team members in serving our clients. Management also intends to continue to repurchase shares as opportunities to create value for our shareholders present themselves.
The continued accomplishments of your Company are the undeniable result of the ongoing efforts of the Company's dedicated team members and Board of Directors in implementing our Strategic Plan. Their efforts and our strong corporate values of respect for and accountability to our shareholders, clients, colleagues, and communities are the foundation for the continued success of your Company. Thank you for your ongoing support and the trust you have placed in us.
Respectfully,
Brian D. Young
President & CEO
March 31, 2025 | December 31, 2024 | ||
Cash and cash equivalents | $ 92,368,000 | $ 95,283,000 | |
Securities | 228,827,000 | 242,069,000 | |
Loans | 784,925,000 | 766,987,000 | |
Less allowance for credit losses | (8,268,000) | (7,937,000) | |
Other assets | 98,675,000 | 92,928,000 | |
Total Assets | |||
Deposits | |||
Borrowings | 16,836,000 | 17,091,000 | |
Other liabilities | 6,279,000 | 6,394,000 | |
Total Liabilities | 1,098,098,000 | 1,094,590,000 | |
Common stock and surplus | 21,758,000 | 21,461,000 | |
Retained earnings | 126,961,000 | 124,822,000 | |
Accumulated other comprehensive (loss) income | (33,426,000) | (34,786,000) | |
Treasury stock | (16,864,000) | (16,757,000) | |
Total shareholders' equity | 98,429,000 | 94,740,000 | |
Total Liabilities and Shareholders' Equity | |||
Common shares outstanding | 2,983,571 | 2,964,007 | |
Book value | |||
Tangible book value (non-GAAP) | |||
Closing price | |||
Allowance for credit losses to loans (end of period, excluding LHFS) | 1.06 % | 1.04 % | |
Loans to deposits | 73.02 % | 71.61 % |
3 months ended | 3 months ended | |||
March 31, 2025 | March 31, 2024 | |||
Interest income | ||||
Interest expense | 4,641,000 | 4,723,000 | ||
Net interest income | 9,543,000 | 7,148,000 | ||
Provision for credit losses | 93,000 | (291,000) | ||
Net interest income after provision | 9,450,000 | 7,439,000 | ||
Non-interest income | 1,801,000 | 2,279,000 | ||
Non-interest expense | 8,124,000 | 7,787,000 | ||
Income before federal income taxes | 3,127,000 | 1,931,000 | ||
Federal income taxes | 335,000 | 98,000 | ||
Net Income | ||||
Average common shares outstanding | 2,968,959 | 3,026,556 | ||
Per Share Data: | ||||
Net income (basic) | ||||
Cash dividends declared | ||||
Dividend yield (annualized) based on quarterly avg closing price | 3.23 % | 4.66 % | ||
Performance Ratios: | ||||
Return on average assets | 0.94 % | 0.69 % | ||
Return on average tangible shareholders' equity | 15.78 % | 11.33 % | ||
Net interest margin | 3.59 % | 3.03 % | ||
Credit Quality and Other Ratios: | ||||
Net loan charge-offs (recoveries) as a | (0.13 %) | 0.00 % | ||
United Bancshares, Inc
Directors Robert L. Benroth Herbert H. Huffman III H. Edward Rigel Daniel W. Schutt, Chairman R. Steven Unverferth Brian D. Young
Officers Brian D. Young, President/CEO Denise E. Giesige, Secretary Klint D. Manz, CFO | The Union Bank Co.
Directors Robert L. Benroth Anthony M. V. Eramo Herbert H. Huffman III Kevin L. Lammon John P. Miller William R. Perry H. Edward Rigel Carol R. Russell Daniel W. Schutt R. Steven Unverferth Dr. Jane M. Wood Brian D. Young, Chairman |
Investor Materials
United Bancshares, Inc. has traded its common stock on the OTCQX Markets Exchange under the symbol "UBOH". Annual and quarterly shareholder reports, regulatory filings, press releases, and articles about United Bancshares, Inc. are available in the Investor Relations section of our website theubank.com or by calling 800-837-8111.
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SOURCE United Bancshares, Inc.
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