Welcome to our dedicated page for United Bancorp Inc/OH news (Ticker: UBCP), a resource for investors and traders seeking the latest updates and insights on United Bancorp Inc/OH stock.
United Bancorp, Inc. (NASDAQ: UBCP) operates as a bank holding company providing a comprehensive range of commercial and retail banking services. Headquartered in Princeton, Kentucky, United Bancorp, through its subsidiary Unified Bank, serves a diverse clientele in Athens, Belmont, Carroll, Fairfield, Harrison, Jefferson, and Tuscarawas Counties in Ohio, as well as parts of West Virginia. The company's primary deposit products include checking, savings, and term certificate accounts, while its lending portfolio features residential mortgages, commercial loans, and installment loans.
Recent Financial Performance
In the fiscal year ending December 31, 2023, United Bancorp reported significant financial achievements. The company posted diluted earnings per share of $1.57, reflecting a 4.7% increase over the prior year. Net income rose to $8.95 million, marking a 3.4% year-over-year growth. The company showcased its ability to capitalize on rising interest rates and reported a net interest income boost, despite a slight decline in net interest margin to 3.65%.
Strategic Initiatives
United Bancorp has undertaken several strategic initiatives to enhance its growth prospects. Notably, the company has strengthened its mortgage division by launching Unified Mortgage, which has started to contribute positively to the bottom line. Additionally, the bank is set to open a new regional banking center in Wheeling, West Virginia, a market with existing customer relationships and promising growth opportunities. These steps aim to expand the company’s footprint and drive asset growth towards a $1 billion threshold.
Capital and Risk Management
As of the end of 2023, United Bancorp maintained a strong capital position with total shareholders' equity of $63.6 million and equity to assets ratio of 7.8%. The company continues to focus on effective credit risk management, maintaining robust loan loss reserves and demonstrating strong credit quality metrics. Nonperforming loans as a percentage of total loans have been kept exceptionally low, reflecting prudent lending practices.
Shareholder Returns
United Bancorp has consistently rewarded its shareholders through attractive dividends. In 2023, the company increased its regular cash dividend and also paid a special cash dividend, resulting in a total dividend yield of 6.4%. This approach underscores the company's commitment to balanced, long-term shareholder value creation.
Future Prospects
Looking ahead, United Bancorp remains optimistic about its growth and earnings potential. The company is well-positioned to navigate the dynamic economic environment, backed by strong liquidity, capital adequacy, and strategic growth initiatives. The focus remains on enhancing operational efficiencies, expanding revenue streams, and achieving sustainable growth.
United Bancorp, Inc. trades on the NASDAQ Capital Market under the symbol UBCP.
United Bancorp (NASDAQ:UBCP) has announced a fourth quarter dividend payment of $0.18 per share, payable on December 20, 2024, to shareholders of record on December 10, 2024. This represents an increase from previous quarterly payments of $0.1725, $0.1750, and $0.1775. Year-to-date, UBCP has paid total cash dividends of $0.8550, including a special dividend of $0.15, marking a 4.9% increase from the previous year. The regular dividend yields 5.4% based on UBCP's market value of $13.13. The company reports total assets of $825.5 million and shareholder's equity of $65.5 million as of September 30, 2024.
United Bancorp (NASDAQ:UBCP) reported Q3 2024 financial results with diluted earnings per share of $0.31 and net income of $1.82 million. For the first nine months of 2024, the company achieved diluted EPS of $0.95 and net income of $5.55 million. Total assets reached $825.5 million with average loans increasing by 4.4% to $480.8 million. The company maintained strong credit quality with nonperforming assets at 0.46% of total assets. Despite industry challenges including margin compression and growth, UBCP increased its tangible shareholders' equity by 25.2% year-over-year to $64.6 million.
United Bancorp, Inc. (NASDAQ:UBCP) has declared a third quarter dividend of $0.1775 per share, payable on September 20, 2024, to shareholders of record on September 10, 2024. This represents a 6.0% increase from the previous year's third quarter dividend. Year-to-date, UBCP has paid total cash dividends of $0.6750, including a special cash dividend of $0.15 in the first quarter, marking a 4.7% increase from the same period last year. The current dividend yield stands at 5.7% based on UBCP's market value of $12.55 at the most recent quarter-end. As of June 30, 2024, United Bancorp has total assets of $821.8 million and total shareholder's equity of $60.6 million.
United Bancorp, Inc. (NASDAQ:UBCP) reported Q2 2024 earnings with diluted EPS of $0.30 and net income of $1,739,000. For the first six months, UBCP reported diluted EPS of $0.64 and net income of $3,732,000. The company faced challenges due to net interest margin compression and growth in a high interest rate environment. Despite these challenges, UBCP maintained solid credit quality with nonperforming assets to total assets at 0.46%. The company's total assets stood at $821.8 million with shareholders' equity of $60.6 million. UBCP continues to focus on growth initiatives, including the development of Unified Mortgage and a new banking center in Wheeling, West Virginia.
United Bancorp, Inc. reported diluted earnings per share of $0.35 and net income of $1,993,000 for the first quarter of 2024. The company experienced challenges due to higher interest rates, leading to a decline in net interest income. Despite this, they achieved growth in total interest income through strategies such as Unified Mortgage and securities portfolio rebalancing. United Bancorp also focused on revenue enhancement initiatives, reducing noninterest expense and improving shareholder equity. The company remains well-capitalized and focused on credit quality within its loan portfolio.
FAQ
What is the current stock price of United Bancorp Inc/OH (UBCP)?
What is the market cap of United Bancorp Inc/OH (UBCP)?
What services does United Bancorp Inc. provide?
Where is United Bancorp Inc. headquartered?
What regions does United Bancorp Inc. serve?
What recent financial achievements has United Bancorp Inc. reported?
What strategic initiatives has United Bancorp Inc. undertaken recently?
How does United Bancorp Inc. manage its credit risk?
What dividends does United Bancorp Inc. offer?
What is United Bancorp Inc.’s ticker symbol?
What are United Bancorp Inc.’s future growth prospects?
What is the equity to assets ratio of United Bancorp Inc.?
