UNITED BANCSHARES, INC. ANNOUNCES FIRST QUARTER 2026 RESULTS AND $0.25 DIVIDEND
Rhea-AI Summary
United Bancshares (OTCQX: UBOH) reported first quarter 2026 results and declared a quarterly cash dividend of $0.25 per share, payable June 15, 2026, to shareholders of record May 29, 2026 (about a 2.48% yield based on Q1 average close).
Q1 results included net income $3.7M or $1.32 per share (up $0.38/share, +40.4% vs. Q1 2025), ROA 1.23%, return on average tangible equity 17.73%, net interest margin 4.01%, loans up $28.1M (annualized 13.61%) and deposits up $30.6M (annualized 11.6%; excluding volatility, +$35.3M).
Positive
- Net income $3.7M, EPS $1.32 (+40.4% YoY)
- ROA 1.23% (up from 0.94% prior-year)
- Return on tangible equity 17.73% (up from 15.78%)
- Net interest margin 4.01% (improved from 3.59%)
- Loan growth $28.1M (annualized 13.61% since Dec 31, 2025)
- Deposits +$30.6M (annualized 11.6%; +$35.3M excl. program)
Negative
- None.
News Market Reaction – UBOH
In the Apr 20 session, UBOH gained 0.08%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
- Quarterly cash dividend of
$0.25 2.48% dividend yield.
- Net income of
$3.7 million $1.32 $0.38 40.4% ) per share increase from$2.8 million $0.94
- Return on average assets of
1.23% for the first quarter of 2026, an increase from0.94% in the comparable period in 2025.
- Return on average tangible equity of
17.73% for the first quarter of 2026, an increase from15.78% in the comparable period in 2025.
- Net interest margin of
4.01% for the first quarter of 2026, an increase from3.59% in the comparable period in 2025.
- Loan growth of
$28.1 million 13.61% from December 31, 2025.
- Deposits increased
$30.6 million 11.6% from December 31, 2025 compared to1.5% for the same period in 2025. When excluding the volatility of the Ohio Treasurers Homebuyers Plus Program, deposits increased$35.3 million 14.37% from December 31, 2025.
- Asset quality metrics remain strong with stable non-performing and classified loans. Charge-offs remain at historically low levels through March 31, 2026.
Non‑GAAP Financial Measures
This release contains certain non‑GAAP financial measures, including return on average tangible equity. Tangible equity is defined as total shareholders' equity less goodwill and other intangible assets. Management believes these measures provide meaningful supplemental information to assess performance and capital adequacy and are useful to investors; however, they should not be viewed as a substitute for GAAP measures.
Cautionary Note Regarding Forward‑Looking Statements
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, to the extent applicable, including statements regarding future financial and operating results, loan and deposit growth, net interest margin, asset quality, capital, dividends, and strategy. Forward-looking statements can be identified by words such as "expects," "anticipates," "intends," "plans," "believes," "estimates," "projects," "may," "will," "should," "could," "would," and similar expressions. Forward-looking statements are based on current expectations and assumptions as of the date of this release and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ include, among others: changes in interest rates and inflation; changes in monetary policy or actions by the Federal Reserve; competitive pressures; credit quality and economic conditions in our markets; liquidity and funding conditions; the ability to maintain or increase dividends at current levels; the ability to achieve projected loan and deposit growth; changes in capital requirements; cybersecurity incidents and technology failures; regulatory and accounting developments; and other risks described in the Company's public disclosures. The Company undertakes no obligation to update any forward-looking statements, except as required by law. These cautionary statements qualify all forward-looking statements attributable to the Company or persons acting on its behalf, whether written or oral.
About United Bancshares, Inc.
United Bancshares, Inc. (OTCQX: UBOH) is a financial holding company headquartered in
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, 2026
Shareholders, Clients, and Team Members:
I am pleased to report that your Company had a strong start to 2026 with reported net income of
Additionally, we repurchased approximately
As a result of these successes, the Board of Directors declared a
Throughout 2026, we plan to continue to grow the number and size of client relationships, introduce an all-new digital platform for our clients, expand our areas of service, continue to provide clients weekday access to a live teller and online chat from 7am – 7pm, and apply new technologies to create internal efficiencies.
Over the past 20 plus years, our Company has benefited greatly from the dedication and leadership of many exceptional team members and directors. I would be remiss not to individually recognize our retiring Chairman, Daniel W. Schutt, and Board Secretary, Denise Giesige. Their commitment, guidance, and tireless efforts have played a significant role in shaping the success and strength of our organization. While we are excited for them as they begin this next chapter, we extend our deepest gratitude for all they have contributed over the years. Dan and Denise have left a lasting legacy—one defined by service, kindness, integrity, and dedication to our shareholders, clients, team members, and the communities we serve. Personally, their friendships will always be a cherished gift of which I could never have earned. We wish them both God's blessing in retirement and we remain committed to carrying forward the solid foundation and values they helped build at this organization.
Finally, thank you for your investment in United Bancshares, Inc. and ongoing support and the trust you have placed in us. We are committed to adding financial value to your investment while improving the lives of those we serve.
Respectfully,
Brian D. Young
President & CEO
Financial Reports
(unaudited)
March 31, 2026 | December 31, 2025 | ||
Cash and cash equivalents | $ 52,629,000 | $ 51,833,000 | |
Securities | 221,539,000 | 227,895,000 | |
Loans | 853,201,000 | 825,129,000 | |
Less allowance for credit losses | (8,870,000) | (8,630,000) | |
Other assets | 96,524,000 | 97,170,000 | |
Total Assets | |||
Deposits | |||
Borrowings | 16,314,000 | 16,568,000 | |
Other liabilities | 6,244,000 | 7,431,000 | |
Total Liabilities | 1,108,914,000 | 1,079,735,000 | |
Common stock and surplus | 22,427,000 | 22,326,000 | |
Retained earnings | 137,135,000 | 134,117,000 | |
Accumulated other comprehensive (loss) income | (26,694,000) | (24,776,000) | |
Treasury stock | (26,759,000) | (18,005,000) | |
Total shareholders' equity | 106,109,000 | 113,662,000 | |
Total Liabilities and Shareholders' Equity | |||
Common shares outstanding | 2,753,625 | 2,954,518 | |
Book value | |||
Tangible book value (non-GAAP) | |||
Closing price | |||
Allowance for credit losses to loans (end of period, excluding LHFS) | 1.04 % | 1.05 % | |
Loans to deposits | 78.54 % | 78.16 % |
3 months ended | 3 months ended | |||
March 31, 2026 | March 31, 2025 | |||
Interest income | ||||
Interest expense | 4,043,000 | 4,641,000 | ||
Net interest income | 10,801,000 | 9,543,000 | ||
Provision for credit losses | 289,000 | 93,000 | ||
Net interest income after provision | 10,512,000 | 9,450,000 | ||
Non-interest income | 2,164,000 | 1,801,000 | ||
Non-interest expense | 8,476,000 | 8,124,000 | ||
Income before federal income taxes | 4,200,000 | 3,127,000 | ||
Federal income taxes | 522,000 | 335,000 | ||
Net Income | ||||
Average common shares outstanding | 2,784,622 | 2,968,959 | ||
Per Share Data: | ||||
Net income (basic) | ||||
Cash dividends declared | ||||
Dividend yield (annualized) based on quarterly avg closing price | 2.48 % | 3.23 % | ||
Performance Ratios: | ||||
Return on average assets | 1.23 % | 0.94 % | ||
Return on average tangible shareholders' equity | 17.73 % | 15.78 % | ||
Net interest margin | 4.01 % | 3.59 % | ||
Credit Quality and Other Ratios: | ||||
Net loan charge-offs (recoveries) as a percentage of average outstanding net loans | 0.04 % | (0.13 %) | ||
United Bancshares, Inc Directors Robert L. Benroth Herbert H. Huffman III 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 Carol R. Russell Daniel W. Schutt R. Steven Unverferth 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.