United Bancorp Reports 10% Increase in Q2 Net Income to $1.914 Million

United Bancorp, Inc. reported a net income of $1.914 million for the second quarter of 2025, reflecting a 10% increase from $1.739 million in the same period last year. This translates to diluted earnings per share of $0.33, up from $0.30 in the prior year. For the first half of 2025, net income reached $3.786 million, a slight increase of 1.4% compared to $3.732 million in the first half of 2024. The company’s total assets grew to $847.9 million, marking a 3.2% increase from $816.7 million at the end of 2024, driven by a rise in gross loans and cash reserves.

The company experienced a 4.3% increase in net interest income for the first six months of 2025, totaling $12.842 million, compared to $12.317 million in the same period of 2024. This growth was attributed to an increase in variable rate loans and a higher net interest margin, which improved to 3.65% from 3.54% year-over-year. However, total interest expense also rose, increasing by 3.2% to $7.411 million, primarily due to a $19.8 million increase in total deposits, which reached $642.9 million.

Operationally, United Bancorp has focused on expanding its loan portfolio, which increased by $16.2 million, or 3.4%, to $500.7 million as of June 30, 2025. The company’s commercial and commercial real estate loans accounted for 80.1% of total loans, reflecting a strategic emphasis on these segments. The allowance for credit losses stood at $4.156 million, representing 0.83% of total loans, indicating a stable credit quality despite some increases in nonaccrual loans.

Strategically, United Bancorp is investing in infrastructure and product development, including the construction of a new banking center in Wheeling, West Virginia, set to open in Fall 2025. The company is also enhancing its Unified Mortgage Division and Treasury Management function to drive fee income and attract low-cost deposits. Despite the economic uncertainties, including inflation and changing trade policies, the company remains optimistic about its growth trajectory and aims to reach an asset threshold of $1 billion in the near future. The board has also approved a regular cash dividend of $0.185 per share, reflecting a commitment to shareholder returns amidst ongoing investments in growth initiatives.