United Bancorp, Inc. Reports 2024 Third Quarter and Nine-Month Earnings Performance
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 (NASDAQ:UBCP) ha riportato risultati finanziari per il terzo trimestre del 2024 con utili diluiti per azione di $0,31 e un reddito netto di $1,82 milioni. Nei primi nove mesi del 2024, l'azienda ha ottenuto EPS diluiti di $0,95 e un reddito netto di $5,55 milioni. Il totale degli attivi ha raggiunto $825,5 milioni, con prestiti medi aumentati del 4,4% a $480,8 milioni. L'azienda ha mantenuto una forte qualità del credito, con attivi non performanti pari allo 0,46% del totale degli attivi. Nonostante le sfide del settore, tra cui la compressione del margine e la crescita, UBCP ha incrementato il proprio capitale azionario tangibile del 25,2% rispetto all'anno precedente, raggiungendo i $64,6 milioni.
United Bancorp (NASDAQ:UBCP) informó resultados financieros del tercer trimestre de 2024 con ganancias diluidas por acción de $0.31 y ingresos netos de $1.82 millones. Durante los primeros nueves meses de 2024, la compañía logró EPS diluidos de $0.95 y ingresos netos de $5.55 millones. Los activos totales alcanzaron los $825.5 millones, con préstamos promedio aumentando un 4.4% a $480.8 millones. La empresa mantuvo una fuerte calidad crediticia, con activos no rentables en un 0.46% del total de activos. A pesar de los desafíos de la industria, incluida la compresión de márgenes y el crecimiento, UBCP aumentó su patrimonio tangible para los accionistas en un 25.2% interanual, alcanzando los $64.6 millones.
United Bancorp (NASDAQ:UBCP)는 2024년 3분기 재무 결과를 발표하며 희석 주당 순이익 $0.31과 순이익 $1.82백만을 보고했습니다. 2024년 처음 9개월 동안, 회사는 희석 EPS $0.95 및 순이익 $5.55백만을 달성했습니다. 총 자산은 $825.5백만에 도달했으며, 평균 대출이 4.4% 증가하여 $480.8백만에 이르렀습니다. 회사는 총 자산의 0.46%에 해당하는 비수익 자산을 유지하며 강력한 신용 품질을 유지했습니다. 마진 압박 및 성장 등 업계의 도전에도 불구하고, UBCP는 연간 25.2% 증가하여 $64.6백만에 달하는 실질 주주 자본을 증가시켰습니다.
United Bancorp (NASDAQ:UBCP) a publié des résultats financiers pour le troisième trimestre de 2024 avec un bénéfice dilué par action de 0,31 $ et un revenu net de 1,82 million $. Pour les neuf premiers mois de 2024, l'entreprise a réalisé un BPA dilué de 0,95 $ et un revenu net de 5,55 millions $. Le total des actifs a atteint 825,5 millions $, avec des prêts moyens en hausse de 4,4 % à 480,8 millions $. L'entreprise a maintenu une forte qualité de crédit, avec des actifs non performants représentant 0,46 % du total des actifs. Malgré les défis de l'industrie, y compris la compression des marges et la croissance, UBCP a augmenté ses capitaux propres tangibles de 25,2 % d'une année sur l'autre, atteignant 64,6 millions $.
United Bancorp (NASDAQ:UBCP) hat die finanziellen Ergebnisse für das dritte Quartal 2024 mit verwässertem Gewinn pro Aktie von 0,31 $ und einem Nettoeinkommen von 1,82 Millionen $ gemeldet. In den ersten neun Monaten von 2024 erzielte das Unternehmen verwässertes EPS von 0,95 $ und ein Nettoeinkommen von 5,55 Millionen $. Die Gesamtausrüstungen erreichten 825,5 Millionen $, wobei die durchschnittlichen Kredite um 4,4 % auf 480,8 Millionen $ anstiegen. Das Unternehmen hielt eine starke Kreditqualität mit notleidenden Vermögenswerten in Höhe von 0,46 % der Gesamtausrüstung. Trotz der Herausforderungen in der Branche, einschließlich Margendruck und Wachstum, steigerte UBCP sein tangibles Eigenkapital um 25,2 % im Jahresvergleich auf 64,6 Millionen $.
- Total assets grew 2.4% year-over-year to $826.2 million
- Average loans increased 4.4% to $480.8 million
- Tangible shareholders' equity increased 25.2% to $64.6 million
- Strong credit quality with nonperforming assets at only 0.46% of total assets
- Tangible book value per share increased 23.6% to $10.84
- Q3 net income decreased by $573,000 compared to previous year
- Nine-month net income declined by $1,007,000 from 2023
- Net interest margin declined 13 basis points to 3.50%
- Interest expense increased 40.7% year-over-year
- Total deposits decreased by 3.1%
Insights
The Q3 2024 results show mixed performance with
- Net interest margin compressed to
3.50% from3.63% YoY - Asset growth of
2.4% to$826.2M - Loan growth of
4.4% to$480.8M - Strong credit quality with NPAs at
0.46%
The bank's strategic initiatives, including the new Wheeling, WV branch and Unified Mortgage expansion, position it well for future growth despite current headwinds. Notable developments include:
- Focus on treasury management services to boost fee income
- No exposure to riskier brokered deposits
- Low uninsured deposit ratio of
18.4% - Strong market performance with stock up
13.7% YoY
MARTINS FERRY, OH / ACCESSWIRE / November 6, 2024 / United Bancorp, Inc. (NASDAQ:UBCP) reported diluted earnings per share of
Randall M. Greenwood, Senior Vice President, CFO and Treasurer remarked, "We are happy to report on the solid earnings and, overall, stable performance of United Bancorp, Inc. (UBCP) for the third quarter ended September 30, 2024 and year to date. For the quarter, our Company produced net income and diluted earnings per share results of
Greenwood continued, "At September 30, 2024 and as previously mentioned, in the presently uncertain economic environment in which we are operating, it has been a challenge to profitably leverage our balance sheet and, accordingly, UBCP has only achieved marginal growth in assets in the current year. As of September 30, 2024, our Company's total average assets were
Lastly, Greenwood stated, "Even with the continued heightened inflation levels and related increases in interest rates that may be impacting some of our borrowers with higher operating costs and rate resets to higher interest rate levels on their loans, we have successfully maintained credit-related strength and stability within our loan portfolio. As of September 30, 2024, our Company's total nonaccrual loans and loans past due 30 plus days were
Scott A. Everson, President and CEO stated, "United Bancorp, Inc. (UBCP), like most banking organizations, has felt the pressure of operating in an environment wherein monetary policy has driven interest rates higher for a longer duration than many of us anticipated--- which has created different challenges for us and most banks. Fortunately, we are hopeful that the unwinding of the restrictive monetary policy that began toward the end of this most recent quarter by the Federal Open Market Committee (FOMC) will help alleviate some of this pressure in the coming quarters; especially, relating to our cost of deposit pricing and the impact that it has had on our net interest margin, among other things. Overall, we are very happy with the solid financial performance that our Company achieved during the third quarter and first nine months of 2024. As previously mentioned, even though UBCP experienced solid year-over-year growth in the level of total interest income that it generated for the first nine months ended September 30, 2024, our Company experienced a greater increase in the total interest expense that it incurred, which caused the aforementioned decline in our net interest income. Fortunately for our Company, taking the
Everson continued, "With the current pressure on our net interest margin and net interest income, United Bancorp, Inc. (UBCP) is focused on controlling its net noninterest margin while continuing with a focus of prudently growing our Company and remaining relevant in a very challenging and competitive environment. Regarding the noninterest income-side of the noninterest margin, some fee generating services and lines of business continue to be under attack by both regulatory and political authorities, which has ultimately put pressure on the level of noninterest income that our Company is able to realize. Accordingly (and, instead of dwelling on this negative reality), UBCP is looking to find new alternatives to generate additional levels of both noninterest income and other sources of revenue. One of these new alternatives is our focus on enhancing our mortgage origination function with the development of Unified Mortgage, which is beginning to help our Company generate higher levels of fee income with the heightened production and sale of secondary market mortgage products, along with the enhancement of our interest income levels through the origination of higher levels of portfolio-type mortgage products. In this area, year-over-year, our Company has experienced an increase of
Everson further mentioned, "Our primary focus is protecting the investment of our shareholders in our Company and rewarding them in a balanced fashion by growing their value and paying an attractive cash dividend. In these areas, our shareholders have been nicely rewarded. In the first nine months of 2024, we, once again, paid both our regular cash dividend, which increased by
Everson concluded, "Considering that we continue to operate in a concerning economic and challenging industry-related environment, we are very pleased with our current performance and future prospects. Even with the present threats with which our overall industry is exposed, we are very optimistic about the future growth and earnings potential for United Bancorp, Inc. (UBCP). We firmly believe that with the challenges that our industry has experienced over the course of the past few years, our Company has evolved into a more fundamentally sound organization with a focus on evolving and growing in order to achieve greater efficiencies and scales and generate higher levels of revenue--- while prudently managing expenses and controlling overall costs. We have and continue to invest in areas that will lead to our continued and future relevancy within our industry. Although such initiatives can stress the short-term performance of our Company, we firmly believe that they will help us fulfil our intermediate and longer-term goals and produce above industry average earnings and overall performance. As previously mentioned, we still have a vision of growing UBCP to an asset threshold of
As of September 30, 2024, United Bancorp, Inc. has total assets of
Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements, which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or carry forward-looking statements, whether as a result of new information, future events or otherwise.
United Bancorp, Inc,
"UBCP"
|
| For the Three Months Ended September 30, |
|
| % |
|
| $ |
| |||||||
|
| 2024 |
|
| 2023 |
|
| Change |
|
| Change |
| ||||
Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
| |||
Interest income on loans |
| $ | 7,064,731 |
|
| $ | 6,203,404 |
|
|
| 13.88 | % |
| $ | 861,327 |
|
Loan fees |
|
| 168,355 |
|
|
| 250,864 |
|
|
| -32.89 | % |
| $ | (82,509 | ) |
Interest income on securities |
|
| 2,710,711 |
|
|
| 3,197,109 |
|
|
| -15.21 | % |
| $ | (486,398 | ) |
Total interest income |
|
| 9,943,797 |
|
|
| 9,651,377 |
|
|
| 3.03 | % |
| $ | 292,420 |
|
Total interest expense |
|
| 3,804,903 |
|
|
| 3,083,418 |
|
|
| 23.40 | % |
| $ | 721,485 |
|
Net interest income |
|
| 6,138,894 |
|
|
| 6,567,959 |
|
|
| -6.53 | % |
| $ | (429,065 | ) |
(Credit) Provision for credit losses - loans |
|
| 69,665 |
|
|
| (153,750 | ) |
|
| -145.31 | % |
| $ | 223,415 |
|
(Credit) Provision for credit losses - off balance sheet commitments |
|
| - |
|
|
| - |
|
|
| N/A |
|
| $ | - |
|
(Credit) Provision for Credit Loss Expense |
|
| 69,665 |
|
|
| (153,750 | ) |
|
| -145.31 | % |
| $ | 223,415 |
|
Net interest income after (Credit) provision for credit losses |
|
| 6,069,229 |
|
|
| 6,721,709 |
|
|
| -9.71 | % |
| $ | (652,480 | ) |
Service charges on deposit accounts |
|
| 766,866 |
|
|
| 703,699 |
|
|
| 8.98 | % |
| $ | 63,167 |
|
Net realized gains on sale of loans |
|
| 167,901 |
|
|
| 1,068 |
|
|
| 15621.07 | % |
| $ | 166,833 |
|
Other noninterest income |
|
| 280,448 |
|
|
| 257,843 |
|
|
| 8.77 | % |
| $ | 22,605 |
|
Total noninterest income |
|
| 1,215,215 |
|
|
| 962,610 |
|
|
| 26.24 | % |
| $ | 252,605 |
|
Total noninterest expense |
|
| 5,529,138 |
|
|
| 5,233,772 |
|
|
| 5.64 | % |
| $ | 295,366 |
|
Earnings before taxes |
|
| 1,755,306 |
|
|
| 2,450,547 |
|
|
| -28.37 | % |
| $ | (695,241 | ) |
Income tax (benefit) expense |
|
| (64,353 | ) |
|
| 58,089 |
|
|
| -210.78 | % |
| $ | (122,442 | ) |
Net income |
| $ | 1,819,659 |
|
| $ | 2,392,458 |
|
|
| -23.94 | % |
| $ | (572,799 | ) |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share - Basic |
| $ | 0.31 |
|
| $ | 0.42 |
|
|
| -26.19 | % |
|
|
|
|
Earnings per common share - Diluted |
|
| 0.31 |
|
|
| 0.42 |
|
|
| -26.19 | % |
|
|
|
|
Cash Dividends paid |
|
| 0.1775 |
|
|
| 0.1675 |
|
|
| 5.97 | % |
|
|
|
|
Annualized yield based on quarter end close |
|
| 5.33 | % |
|
| 5.80 | % |
|
| N/A |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
Shares Outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average - Basic |
|
| 5,621,393 |
|
|
| 5,488,995 |
|
|
| -------- |
|
|
|
|
|
Average - Diluted |
|
| 5,621,393 |
|
|
| 5,488,995 |
|
|
| -------- |
|
|
|
|
|
Common stock, shares issued |
|
| 6,203,141 |
|
|
| 6,063,851 |
|
|
| -------- |
|
|
|
|
|
Shares used for Book Value Computation |
|
| 5,966,278 |
|
|
| 5,884,488 |
|
|
|
|
|
|
|
|
|
Shares held as treasury stock |
|
| 236,863 |
|
|
| 179,363 |
|
|
| -------- |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
| |
| For the Nine Months Ended September 30, |
|
| % |
|
|
| % |
| |||||||
|
| 2024 |
|
|
| 2023 |
|
| Change |
|
|
| Change |
| ||
Earnings |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Interest income on loans |
| $ | 20,462,806 |
|
| $ | 17,786,193 |
|
|
| 15.05 | % |
| $ | 2,676,613 |
|
Loan fees |
|
| 517,371 |
|
|
| 603,239 |
|
|
| -14.23 | % |
| $ | (85,868 | ) |
Interest income on securities |
|
| 8,462,643 |
|
|
| 8,756,313 |
|
|
| -3.35 | % |
| $ | (293,670 | ) |
Total interest income |
|
| 29,442,820 |
|
|
| 27,145,745 |
|
|
| 8.46 | % |
| $ | 2,297,075 |
|
Total interest expense |
|
| 10,987,418 |
|
|
| 7,810,006 |
|
|
| 40.68 | % |
| $ | 3,177,412 |
|
Net interest income |
|
| 18,455,402 |
|
|
| 19,335,739 |
|
|
| -4.55 | % |
| $ | (880,337 | ) |
(Credit) Provision for credit losses - loans |
|
| 174,165 |
|
|
| (300,000 | ) |
|
| -158.06 | % |
| $ | 474,165 |
|
(Credit) Provision for credit losses - off balance sheet commitments |
|
| - |
|
|
| - |
|
|
| N/A |
|
| $ | - |
|
(Credit) Provision for Credit Loss Expense |
|
| 174,165 |
|
|
| (300,000 | ) |
|
| -158.06 | % |
| $ | 474,165 |
|
Net interest income after provision for credit losses |
|
| 18,281,237 |
|
|
| 19,635,739 |
|
|
| -6.90 | % |
| $ | (1,354,502 | ) |
Service charges on deposit accounts |
|
| 2,187,177 |
|
|
| 2,202,060 |
|
|
| -0.68 | % |
| $ | (14,883 | ) |
Net realized gains on sale of loans |
|
| 363,364 |
|
|
| 8,156 |
|
|
| 4355.17 | % |
| $ | 355,208 |
|
Net realized loss on sale of available-for-sale securities |
|
| (115,685 | ) |
|
| - |
|
|
| N/A |
|
| $ | (115,685 | ) |
Other noninterest income |
|
| 830,774 |
|
|
| 814,293 |
|
|
| 2.02 | % |
| $ | 16,481 |
|
Total noninterest income |
|
| 3,265,630 |
|
|
| 3,024,509 |
|
|
| 7.97 | % |
| $ | 241,121 |
|
Total noninterest expense |
|
| 16,035,175 |
|
|
| 15,760,658 |
|
|
| 1.74 | % |
| $ | 274,517 |
|
Earnings before income taxes |
|
| 5,511,692 |
|
|
| 6,899,590 |
|
|
| -20.12 | % |
| $ | (1,387,898 | ) |
Income tax expense |
|
| (40,845 | ) |
|
| 339,099 |
|
|
| -112.05 | % |
| $ | (379,944 | ) |
Net income |
| $ | 5,552,537 |
|
| $ | 6,560,491 |
|
|
| -15.36 | % |
| $ | (1,007,954 | ) |
Per share |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Earnings per common share - Basic |
| $ | 0.95 |
|
| $ | 1.15 |
|
|
| -17.39 | % |
|
|
|
|
Earnings per common share - Diluted |
|
| 0.95 |
|
|
| 1.15 |
|
|
| -17.39 | % |
|
|
|
|
Cash dividends paid |
|
| 0.6750 |
|
|
| 0.6450 |
|
|
| 4.65 | % |
|
|
|
|
Shares Outstanding |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Average - Basic |
|
| 5,584,250 |
|
|
| 5,490,072 |
|
|
| -------- |
|
|
|
|
|
Average - Diluted |
|
| 5,584,250 |
|
|
| 5,490,072 |
|
|
| -------- |
|
|
|
|
|
At quarter end |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Total assets |
| $ | 825,482,119 |
|
| $ | 814,280,733 |
|
|
| 1.38 | % |
| $ | 11,201,386 |
|
Total assets (average) |
|
| 826,203,000 |
|
|
| 807,244,000 |
|
|
| 2.35 | % |
| $ | 18,959,000 |
|
Other real estate and repossessions |
|
| 3,380,610 |
|
|
| 3,480,404 |
|
|
| -2.87 | % |
| $ | (99,794 | ) |
Gross loans |
|
| 475,004,333 |
|
|
| 466,841,622 |
|
|
| 1.75 | % |
| $ | 8,162,711 |
|
Allowance for credit losses |
|
| 4,002,140 |
|
|
| 4,111,999 |
|
|
| -2.67 | % |
| $ | (109,859 | ) |
Net loans |
|
| 471,002,193 |
|
|
| 462,729,623 |
|
|
| 1.79 | % |
| $ | 8,272,570 |
|
Net loans recovered (charge offs) |
|
| (140,629 | ) |
|
| 22,056 |
|
|
| -737.60 | % |
| $ | (162,685 | ) |
Net overdrafts (charge offs) |
|
| (79,580 | ) |
|
| (81,553 | ) |
|
| -2.42 | % |
| $ | 1,973 |
|
Total net (charge offs) |
|
| (220,209 | ) |
|
| (59,497 | ) |
|
| 270.12 | % |
| $ | (160,712 | ) |
Non-accrual loans |
|
| 379,988 |
|
|
| 216,515 |
|
|
| 75.50 | % |
| $ | 163,473 |
|
Loans past due 30+ days (excludes non accrual loans) |
|
| 624,883 |
|
|
| 493,190 |
|
|
| 26.70 | % |
| $ | 131,693 |
|
Average loans |
|
| 480,841,000 |
|
|
| 460,403,000 |
|
|
| 4.44 | % |
| $ | 20,438,000 |
|
Cash and due from Federal Reserve Bank |
|
| 37,777,822 |
|
|
| 70,892,134 |
|
|
| -46.71 | % |
| $ | (33,114,312 | ) |
Average cash and due from Federal Reserve Bank |
|
| 39,963,000 |
|
|
| 68,699,000 |
|
|
| -41.83 | % |
| $ | (28,736,000 | ) |
Securities and other restricted stock |
|
| 254,186,642 |
|
|
| 246,739,625 |
|
|
| 3.02 | % |
| $ | 7,447,017 |
|
Average securities and other restricted stock |
|
| 250,081,000 |
|
|
| 245,931,000 |
|
|
| 1.69 | % |
| $ | 4,150,000 |
|
Average total deposits |
|
| 620,828,000 |
|
|
| 640,408,000 |
|
|
| -3.06 | % |
| $ | (19,580,000 | ) |
Total deposits |
|
| 615,818,830 |
|
|
| 628,011,577 |
|
|
| -1.94 | % |
| $ | (12,192,747 | ) |
Non interest bearing demand |
|
| 144,011,842 |
|
|
| 148,850,104 |
|
|
| -3.25 | % |
| $ | (4,838,262 | ) |
Interest bearing demand |
|
| 180,917,593 |
|
|
| 205,449,982 |
|
|
| -11.94 | % |
| $ | (24,532,389 | ) |
Savings |
|
| 123,171,427 |
|
|
| 134,422,588 |
|
|
| -8.37 | % |
| $ | (11,251,161 | ) |
Time |
|
| 167,717,968 |
|
|
| 139,288,903 |
|
|
| 20.41 | % |
| $ | 28,429,065 |
|
Advances from the Federal Home Loan Bank |
|
| 75,000,000 |
|
|
| 75,000,000 |
|
|
| N/A |
|
| $ | - |
|
Overnight advances |
|
| - |
|
|
| - |
|
|
| N/A |
|
| $ | - |
|
Term advances |
|
| 75,000,000 |
|
|
| 75,000,000 |
|
|
| N/A |
|
| $ | - |
|
Subordinated debt (net of unamortized issuance costs) |
|
| 23,832,374 |
|
|
| 23,771,498 |
|
|
| 0.26 | % |
| $ | 60,876 |
|
Securities sold under agreements to repurchase |
|
| 36,122,587 |
|
|
| 28,583,996 |
|
|
| 26.37 | % |
| $ | 7,538,591 |
|
Shareholders' equity |
|
| 65,459,697 |
|
|
| 52,589,312 |
|
|
| 24.47 | % |
| $ | 12,870,385 |
|
Common Stock, Additional Paid in Capital |
|
| 32,406,779 |
|
|
| 31,544,430 |
|
|
| 2.73 | % |
| $ | 862,349 |
|
Retained Earnings |
|
| 45,531,256 |
|
|
| 42,629,322 |
|
|
| 6.81 | % |
| $ | 2,901,934 |
|
Share held by Deferred Plan and Treasury Stock |
|
| (5,320,742 | ) |
|
| (4,564,244 | ) |
|
| 16.57 | % |
| $ | (756,498 | ) |
Accumulated other comprehensive loss, net of tax benefits |
|
| (7,157,596 | ) |
|
| (17,020,196 | ) |
|
| -57.95 | % |
| $ | 9,862,600 |
|
Goodwill and intangible assets (impact on Shareholders' equity) |
|
| 842,293 |
|
|
| 979,793 |
|
|
| -14.03 | % |
| $ | (137,500 | ) |
Tangible shareholders' equity |
|
| 64,617,404 |
|
|
| 51,609,519 |
|
|
| 25.20 | % |
| $ | 13,007,885 |
|
Shareholders' equity (average) |
|
| 65,507,000 |
|
|
| 51,612,000 |
|
|
| 26.92 | % |
| $ | 13,895,000 |
|
Stock data |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Market value - last close (end of period) |
| $ | 13.13 |
|
| $ | 11.55 |
|
|
| 13.68 | % |
|
|
|
|
Dividend payout ratio (without special dividend) |
|
| 55.26 | % |
|
| 43.04 | % |
|
| 28.39 | % |
|
|
|
|
Book value (end of period) |
|
| 10.98 |
|
|
| 8.97 |
|
|
| 22.41 | % |
|
|
|
|
Tangible book value |
|
| 10.84 |
|
|
| 8.77 |
|
|
| 23.60 | % |
|
|
|
|
Market price to book value |
|
| 119.58 | % |
|
| 128.76 | % |
|
| -7.13 | % |
|
|
|
|
Market price to tangible book value |
|
| 121.13 | % |
|
| 131.70 | % |
|
| -8.03 | % |
|
|
|
|
Key performance ratios |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Return on average assets (ROA) |
|
| 0.90 | % |
|
| 1.08 | % |
|
| -0.19 | % |
|
|
|
|
Return on average equity (ROE) |
|
| 11.30 | % |
|
| 16.95 | % |
|
| -5.65 | % |
|
|
|
|
Net interest margin (federal tax equivalent) |
|
| 3.50 | % |
|
| 3.63 | % |
|
| -0.13 | % |
|
|
|
|
Interest expense to average assets |
|
| 1.77 | % |
|
| 1.29 | % |
|
| 0.48 | % |
|
|
|
|
Total allowance for credit losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to nonaccrual loans |
|
| 1053.23 | % |
|
| 1899.18 | % |
|
| -845.95 | % |
|
|
|
|
Total allowance for credit losses |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
to total loans |
|
| 0.84 | % |
|
| 0.88 | % |
|
| -0.04 | % |
|
|
|
|
Net charge-offs (recoveries) to average loans |
|
| -0.05 | % |
|
| 0.05 | % |
|
| -0.09 | % |
|
|
|
|
Nonaccrual loans and OREO to average assets |
|
| 0.46 | % |
|
| 0.46 | % |
|
| 0.00 | % |
|
|
|
|
Nonaccrual loans and OREO to total assets |
|
| 0.46 | % |
|
| 0.45 | % |
|
| 0.01 | % |
|
|
|
|
Equity to assets at period end |
|
| 7.93 | % |
|
| 6.46 | % |
|
| 1.47 | % |
|
|
|
|
SOURCE: United Bancorp, Inc. (Ohio)
View the original press release on accesswire.com
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