United Bancorp, Inc. reported a solid financial performance for the second quarter of 2026, with net income reaching $2.1 million, or $0.36 per diluted share, marking a 9.4% increase in net income and a 9.1% rise in earnings per share compared to the same period in 2025. For the first half of 2026, the company achieved net income of $4 million, a 5.8% increase year-over-year, with diluted earnings per share rising to $0.69. The growth in earnings was attributed to an increase in net interest income, which rose by 5.2% to $13.5 million for the six months ended June 30, 2026, driven by higher interest rates on variable loans.
Total assets for United Bancorp increased by $30.1 million, or 3.6%, to $878 million as of June 30, 2026, primarily due to a $13.1 million rise in available-for-sale securities and an $18.5 million increase in bank-owned life insurance. Total deposits also saw significant growth, increasing by $44 million, or 6.8%, to $686.9 million, with noninterest-bearing demand deposits and savings accounts contributing to this rise. The company successfully attracted lower-cost funding, which helped reduce total interest expense by 5.1% year-over-year.
Operationally, United Bancorp's loan portfolio grew to $495.7 million, a slight increase from $491.6 million at the end of 2025. The growth was primarily in commercial and commercial real estate loans, which now represent 81.2% of total loans. However, the company experienced a slight uptick in nonaccrual loans, totaling $6.9 million, or 1.4% of gross loans, attributed mainly to a single commercial loan relationship. Despite this, the overall credit quality remains sound, with net charge-offs for the first half of 2026 at approximately $7,000.
Strategically, United Bancorp has been investing in infrastructure and technology to enhance its service offerings. The company opened a new banking center in Wheeling, West Virginia, in December 2025, which has exceeded performance expectations. Additionally, the Unified Mortgage Division is expected to contribute positively to fee income as it scales up operations. The company is also implementing advanced technology solutions, including an AI-driven customer service platform and a centralized customer support center, aimed at improving customer experience and operational efficiency.
Looking ahead, United Bancorp remains optimistic about its growth trajectory, anticipating continued increases in net interest income and net interest margin. The company is focused on leveraging its investments in infrastructure and technology to ensure long-term relevance and profitability in the competitive financial services landscape.
About UNITED BANCORP INC /OH/
A regional bank holding company based in Ohio, United Bancorp, Inc. operates through its wholly-owned subsidiary, Unified Bank, providing commercial and retail banking services. It offers deposit products, loans, and financial services across Ohio and West Virginia. The company emphasizes safety, regulatory compliance, and community banking, serving diverse local markets with competitive products and a focus on customer relationships and sound risk management.
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