UNITED BANCSHARES, INC. ANNOUNCES THIRD QUARTER 2025 RESULTS AND $0.23 DIVIDEND

Rhea-AI Summary

United Bancshares (OTCQX: UBOH) reported third quarter 2025 results and a quarterly cash dividend of $0.23 per share declared for shareholders of record on November 28, 2025, payable December 15, 2025. Net income was $3.0 million or $1.01 per share for Q3 2025, up from $2.5 million or $0.83 per share in Q3 2024. Year‑to‑date 2025 net income was $8.9 million or $3.00 per share, versus $6.1 million or $2.05 per share YTD 2024.

Key performance metrics improved: return on average assets 1.01% (Q3), return on tangible equity 15.89% (Q3), and net interest margin 3.76% (Q3). Loan growth was $37.9 million (6.58% annualized) and core deposit growth was $11.5 million (1.56% annualized) since December 31, 2024. Asset quality and charge‑offs remained stable and low through September 30, 2025.

Positive

• Declared quarterly dividend of $0.23 per share payable Dec 15, 2025
• Q3 net income $3.0M and EPS $1.01 (up $0.18 per share YoY)
• YTD 2025 net income $8.9M and EPS $3.00 (up $0.95 per share YoY)
• Net interest margin 3.76% in Q3 2025 (up from 3.12% year‑earlier)
• Loan growth of $37.9M (6.58% annualized) since Dec 31, 2024

Negative

• Core deposit growth only $11.5M (1.56% annualized) since Dec 31, 2024
• Dividend yield of 2.91% (based on Q3 average closing price) may limit upside for yield-seeking investors

COLUMBUS GROVE, Ohio, Oct. 23, 2025 /PRNewswire/ -- United Bancshares, Inc. (OTCQX: UBOH) ("United Bancshares" or the "Company"), the holding company for The Union Bank Company, today reported financial results for the quarter ended September 30, 2025, and announced that its Board of Directors has declared a quarterly cash dividend of $0.23 per share.

Third Quarter 2025 Highlights

• Quarterly cash dividend of $0.23 per share for shareholders of record on November 28, 2025, payable on December 15, 2025. Based on the average closing price for the third quarter, this is a 2.91% dividend yield.
• Net income of $3.0 million or $1.01 per share for the 2025 third quarter. This is a $0.18 per share increase from $2.5 million or $0.83 per share in the comparable period in 2024. Year-to-date (YTD) 2025 net income of $8.9 million or $3.00 per share, is a $0.95 per share increase from $6.1 million net income, or $2.05 per share YTD 2024.
• Return on average assets of 1.01% for the 2025 third quarter, an increase from 0.83% in the comparable period in 2024. YTD 2025 return on average assets of 0.99%, an increase from 0.73% YTD 2024.
• Return on average tangible shareholders' equity of 15.89% for the 2025 third quarter, up from 14.96% in the comparable period in 2024. YTD 2025 return on average tangible equity of 16.29%, up from 12.85% YTD 2024.
• Net interest margin of 3.76% for the 2025 third quarter, an increase from 3.12% in the comparable period in 2024. YTD 2025 net interest margin of 3.69%, up from 3.09% YTD 2024.
• Loan growth of $37.9 million, up 6.58% annualized from December 31, 2024.
• Core deposit growth of $11.5 million, up 1.56% annualized from December 31, 2024. Core deposits exclude fluctuations from the Ohio Treasurer's Ohio Homebuyer's matching deposits.
• Asset quality metrics remain strong with stable non-performing and classified loans. Charge-offs remain at historically low levels through September 30, 2025.

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 may contain forward‑looking statements, including statements regarding future financial and operating results, loan and deposit growth, net interest margin, asset quality, capital, dividends, and strategy. Forward‑looking statements are based on current expectations and assumptions 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 materially include, among others, changes in interest rates, inflation, competitive pressures, credit quality and economic conditions in our markets, liquidity and funding conditions, regulatory and accounting developments, and other risks described from time to time in public materials made available by the Company. The Company undertakes no obligation to update any forward‑looking statements, except as required by law.

About United Bancshares, Inc.
United Bancshares, Inc. (OTCQX: UBOH) is a financial holding company headquartered in Columbus Grove, Ohio, and the parent company of The Union Bank Company. United Bancshares' common stock trades on the OTCQX Best Market under the symbol "UBOH."

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 Central Ohio, including Bowling Green, Columbus Grove, Delphos, Findlay, Gibsonburg, Kalida, Leipsic, Lewis Center, Lima, Marion, Ottawa, Paulding and Pemberville. We have Interactive Teller Machines (ITMs) located at all of our branch locations with additional ITM only locations in Lima, Marion, Paulding and Westerville. The Union Bank Company is headquartered in Columbus Grove, Ohio, and remains committed to providing the best banking service and products to all the communities we serve. Learn more at www.theubank.com. 

Contact:
Brian D. Young, President and CEO
Klint D. Manz, Chief Financial Officer
419.659.2141

United Bancshares, Inc.

Quarterly Report
September 30, 2025

Shareholders, Clients, and Team Members:

I am pleased to report that your Company continued to see strong results for 2025, reporting $8.9 million in net income ($3.00/share) and 16.29% return on average tangible shareholders' equity. The Company also reported $37.9 million in loan growth (6.58% annualized) and $11.5 million (1.6% annualized) in core deposit growth (excluding the deposit fluctuations from the Ohio Treasurer's Ohio Homebuyer's matching deposits). As a result of a $6.5 million increase (28.2%) in net interest income as compared to the first nine months of 2024, net interest margin improved to 3.69% from 3.09% from the same period in 2024.

Trading of shares (UBOH) on OTCQX during the third quarter was noticeably elevated as compared to the previous quarter (167% increase). The average share price close during the quarter was $31.58, (18% increase) with a high close of $37.35 and a low close of $27.00. We continue to believe that selectively repurchasing our shares at attractive pricing creates long-term value for our shareholders. From 2022 through September 2025, the Company has repurchased 374,121 shares at an average price of $21.53.

As a result of these successes, the Board of Directors declared a $0.23 per share quarterly dividend, payable on December 15th for shareholders of record on November 28th. The dividend is 22.8% of the reported net income for the third quarter of 2025.

I am also pleased to report implementation of an all-new digital platform for our clients continues with an expected rollout in the first quarter of 2026, increased usage of our 7am-7pm live teller access at all our locations, and the addition of incredible new team members with significant experience and compatible cultural approaches in our commercial, retail and operational areas. We continue to be blessed by the countless people who have chosen to serve or be served by The Union Bank Company.

The continued accomplishments of your Company are the result of ongoing efforts of the Company's resolute team members and Board of Directors in applying our strong corporate values of respect for and accountability to our shareholders, clients, colleagues, and communities. As always, your ongoing support and the trust you have placed in us is appreciated.

Respectfully,

Brian D. Young
President & CEO

 

	Sept 30, 2025		Dec 31, 2024
Cash and cash equivalents	$     77,099,000		$     95,283,000
Securities	226,905,000		237,779,000
Loans	804,928,000		766,987,000
Less allowance for credit losses	(8,511,000)		(7,937,000)
Other assets	98,213,000		97,218,000
Total Assets	$1,198,634,000		$1,189,330,000
Deposits	$1,067,602,000		$1,071,105,000
Borrowings	16,821,000		17,091,000
Other liabilities	6,267,000		6,394,000
Total Liabilities	1,090,690,000		1,094,590,000
Common stock and surplus	22,086,000		21,461,000
Retained earnings	131,712,000		124,822,000
Accumulated other comprehensive (loss) income	(28,493,000)		(34,786,000)
Treasury stock	(17,361,000)		(16,757,000)
Total shareholders' equity	107,944,000		94,740,000
Total Liabilities and Shareholders' Equity	$1,198,634,000		$1,189,330,000
Common shares outstanding	2,966,066		2,964,007
Book value	$36.39		$31.96
Tangible book value (non-GAAP)	$26.72		$22.28
Closing price	$36.98		$31.00
Allowance for credit losses to loans (end of period, excluding LHFS)	1.06 %		1.04 %
Loans to deposits	75.40 %		71.61 %

 

	3 months ended		3 months ended		9 months ended		9 months ended
	Sept 30, 2025		Sept 30, 2024		Sept 30, 2025		Sept 30, 2024
Interest income	$14,771,000		$14,330,000		$43,501,000		$38,703,000
Interest expense	4,806,000		5,986,000		14,090,000		15,762,000
Net interest income	9,965,000		8,344,000		29,411,000		22,941,000
Provision for credit losses	64,000		(288,000)		392,000		(769,000)
Net interest income after provision	9,901,000		8,632,000		29,019,000		23,710,000
Non-interest income	1,826,000		2,113,000		5,430,000		6,418,000
Non-interest expense	8,366,000		8,050,000		24,449,000		23,520,000
Income before federal income taxes	3,361,000		2,695,000		10,000,000		6,608,000
Federal income taxes	370,000		226,000		1,091,000		474,000
Net Income	$2,991,000		$2,469,000		$8,909,000		$6,134,000
Average common shares outstanding	2,962,803		2,980,554		2,968,674		2,999,048
Per Share Data:
Net income (basic)	$1.01		$0.83		$3.00		$2.05
Cash dividends declared	$0.23		$0.22		$0.69		$0.66
Dividend yield (annualized) based on quarterly avg. closing price	2.91 %		4.50 %		3.17 %		4.62 %
Performance Ratios:
Return on average assets	1.01 %		0.83 %		0.99 %		0.73 %
Return on average tangible shareholders' equity	15.89 %		14.96 %		16.29 %		12.85 %
Net interest margin	3.76 %		3.12 %		3.69 %		3.09 %
Credit Quality and Other Ratios:
Net loan charge-offs (recoveries) as a percentage of average outstanding net loans	0.00 %		0.00 %		-0.04 %		0.00 %

 

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 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.

View original content:https://www.prnewswire.com/news-releases/united-bancshares-inc-announces-third-quarter-2025-results-and-0-23-dividend-302593204.html

SOURCE United Bancshares, Inc.

FAQ

What dividend did United Bancshares (UBOH) declare on October 23, 2025?

The board declared a quarterly cash dividend of $0.23 per share, record date Nov 28, 2025, payable Dec 15, 2025.

How much net income did UBOH report for Q3 2025 and how does it compare to Q3 2024?

Q3 2025 net income was $3.0 million ($1.01 per share), up from $2.5 million ($0.83 per share) in Q3 2024.

What were United Bancshares' year‑to‑date earnings per share (EPS) through Q3 2025?

YTD 2025 EPS was $3.00, compared with $2.05 YTD 2024.

What is UBOH's reported net interest margin for Q3 2025?

Net interest margin for Q3 2025 was reported at 3.76%.

How much did loans and core deposits change for United Bancshares in 2025 through Q3?

Loan balances increased by $37.9 million (6.58% annualized) and core deposits increased by $11.5 million (1.56% annualized) since Dec 31, 2024.

Are UBOH's asset quality metrics a concern after Q3 2025?

The company reported asset quality as stable, with non‑performing and classified loans steady and charge‑offs at historically low levels through Sept 30, 2025.