United Bancorp, Inc. reported a net income of $1.93 million for the third quarter of 2025, reflecting a 6.1% increase from the same period in 2024. This translates to diluted earnings per share of $0.34, up from $0.31 a year earlier. For the first nine months of 2025, the company achieved a net income of $5.72 million, a 3.0% increase compared to $5.55 million in the prior year, with diluted earnings per share rising to $0.99 from $0.95. The growth in earnings is attributed to an increase in net interest income, which rose by 9.6% year-over-year to $6.73 million for the quarter, driven by higher yields on loans and securities.
Total assets for United Bancorp increased to $866.76 million as of September 30, 2025, up from $816.66 million at the end of 2024. This growth was primarily fueled by a $21.5 million increase in gross loans, which reached $496.54 million, and a $7.8 million rise in cash and due from banks. The company also reported a significant increase in total deposits, which rose by $31.7 million to $645.19 million, reflecting a strategic focus on expanding its deposit base. The increase in deposits was accompanied by a shift towards higher-cost term funding, although noninterest-bearing demand deposits also saw an increase of $12.3 million.
In terms of operational developments, United Bancorp is actively investing in its infrastructure and product offerings. The company is in the process of opening a new banking center in Wheeling, West Virginia, which is expected to enhance its market presence. Additionally, the establishment of a Unified Mortgage Division and the development of a Treasury Management function are aimed at increasing fee income and improving customer service. The company has also made significant investments in technology to support digital transformation and enhance customer engagement.
The provision for credit losses increased to $186,000 for the third quarter, compared to $69,000 in the same quarter of the previous year, reflecting the company's proactive approach to managing credit risk amid economic uncertainties. The allowance for credit losses stood at $4.3 million, representing 0.87% of total loans. Despite the increase in provisions, the company reported a low level of nonperforming loans, with total nonaccrual loans and loans past due over 30 days amounting to $3.1 million, or 0.63% of gross loans.
Looking ahead, United Bancorp remains optimistic about its growth trajectory, aiming to reach an asset threshold of $1 billion. The company plans to continue focusing on expanding its loan portfolio and enhancing its service offerings while managing costs effectively. The ongoing investments in infrastructure and technology are expected to position the company for sustained growth and improved financial performance in the coming years.
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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