United Bancorp Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>United Bancorp Inc. (UBCP) has filed its annual 10-K report for the fiscal year ended December 31, 2023, detailing financial performance and corporate structure.</b>

AI Summary

UNITED BANCORP INC /OH/ (UBCP) filed a Annual Report (10-K) with the SEC on March 20, 2024. United Bancorp Inc. filed its 2023 Form 10-K on March 20, 2024. The filing covers the fiscal year ending December 31, 2023. The company is incorporated in Ohio and operates under SIC code 6022 (Commercial Banks). Key financial statement details for retained earnings, common stock, and additional paid-in capital are provided for 2023, 2022, and 2021. Information regarding stock incentive plans and various investment maturities (overnight, up to 30 days, 30-90 days, over 90 days) is included.

Why It Matters

For investors and stakeholders tracking UNITED BANCORP INC /OH/, this filing contains several important signals. This 10-K filing provides a comprehensive overview of United Bancorp's financial health and operational status for the fiscal year 2023, which is crucial for investors to assess the company's performance and future prospects. The detailed breakdown of equity accounts and investment maturities offers insights into the company's capital structure and liquidity management, important factors for financial institutions.

Risk Assessment

Risk Level: low — UNITED BANCORP INC /OH/ shows low risk based on this filing. The filing is a standard annual report (10-K) for a publicly traded company, indicating routine disclosure rather than immediate significant events.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K to understand United Bancorp's performance and potential challenges in the upcoming fiscal year.

Key Numbers

• 2023-12-31 — Fiscal Year End (Reporting period)
• 2024-03-20 — Filing Date (Date of submission)
• 149 — Document Count (Number of documents in the filing)
• 000-16540 — SEC File Number (SEC registration number)

Key Players & Entities

• UNITED BANCORP INC /OH/ (company) — Filer name
• UBCP (company) — Ticker symbol
• 0000731653 (company) — Central Index Key
• 2023-12-31 (date) — Fiscal year end
• 2024-03-20 (date) — Filing date
• OH (location) — State of incorporation
• 6022 (industry) — Standard Industrial Classification
• 341405357 (organization_id) — IRS Number

FAQ

Industry Context

United Bancorp Inc. operates within the commercial banking sector, a highly regulated industry focused on deposit-taking, lending, and other financial services.

Regulatory Implications

Commercial banks are subject to extensive regulation by federal and state authorities, including the Federal Reserve, OCC, and FDIC, covering capital requirements, lending practices, and consumer protection.

What Investors Should Do

1. Analyze the balance sheet and income statement data for trends and significant changes from prior periods.
2. Examine disclosures related to stock incentive plans and equity structure.
3. Review any sections pertaining to investment portfolio details and maturity profiles.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K.
• 2024-03-20: Filing Date — Date the 10-K was officially submitted to the SEC.

Year-Over-Year Comparison

This is the initial filing analyzed for the period, so direct comparison to a previous filing is not available within this data.

Key Financial Figures

• $1.00 — h registered Common Stock, Par Value $1.00 UBCP NASDQ Capital Market Securit
• $10 billion — d depository institutions with at least $10 billion in total assets since they are more com

Filing Documents

• ubcp-20231231x10k.htm (10-K) — 993KB
• ubcp-20231231xex13.htm (EX-13) — 4318KB
• ubcp-20231231xex21.htm (EX-21) — 3KB
• ubcp-20231231xex23.htm (EX-23) — 5KB
• ubcp-20231231xex31d1.htm (EX-31.1) — 10KB
• ubcp-20231231xex31d2.htm (EX-31.2) — 10KB
• ubcp-20231231xex32d1.htm (EX-32.1) — 5KB
• ubcp-20231231xex32d2.htm (EX-32.2) — 5KB
• ubcp-20231231xex97.htm (EX-97) — 12KB
• ubcp-20231231xex13001.jpg (GRAPHIC) — 6KB
• ubcp-20231231xex13002.jpg (GRAPHIC) — 6KB
• ubcp-20231231xex13003.jpg (GRAPHIC) — 14KB
• ubcp-20231231xex13004.jpg (GRAPHIC) — 11KB
• ubcp-20231231xex13005.jpg (GRAPHIC) — 8KB
• ubcp-20231231xex13006.jpg (GRAPHIC) — 54KB
• ubcp-20231231xex13007.jpg (GRAPHIC) — 152KB
• ubcp-20231231xex13008.jpg (GRAPHIC) — 26KB
• ubcp-20231231xex13009.jpg (GRAPHIC) — 25KB
• ubcp-20231231xex13010.jpg (GRAPHIC) — 28KB
• ubcp-20231231xex13011.jpg (GRAPHIC) — 25KB
• ubcp-20231231xex13012.jpg (GRAPHIC) — 27KB
• ubcp-20231231xex13013.jpg (GRAPHIC) — 25KB
• ubcp-20231231xex13014.jpg (GRAPHIC) — 27KB
• ubcp-20231231xex13015.jpg (GRAPHIC) — 26KB
• ubcp-20231231xex13016.jpg (GRAPHIC) — 25KB
• ubcp-20231231xex13017.jpg (GRAPHIC) — 23KB
• ubcp-20231231xex13019.jpg (GRAPHIC) — 4KB
• 0001410578-24-000239.txt (&nbsp;) — 23971KB
• ubcp-20231231.xsd (EX-101.SCH) — 91KB
• ubcp-20231231_cal.xml (EX-101.CAL) — 105KB
• ubcp-20231231_def.xml (EX-101.DEF) — 330KB
• ubcp-20231231_lab.xml (EX-101.LAB) — 777KB
• ubcp-20231231_pre.xml (EX-101.PRE) — 668KB
• ubcp-20231231x10k_htm.xml (XML) — 5949KB

Business

Business United Bancorp, Inc. (Company) is a bank holding company headquartered in Martins Ferry, Ohio. The Company is an Ohio corporation which filed its initial articles of incorporation on July 8, 1983. At December 31, 2023 the Company has one wholly-owned subsidiary bank, Unified Bank, Martins Ferry, Ohio (Unified, or the Bank). The Company serves customers in northeastern, eastern, southeastern and south central Ohio and the Northern panhandle of West Virginia and is engaged in the business of commercial and retail banking in Belmont, Harrison, Jefferson, Tuscarawas, Carroll, Athens, Hocking, and Fairfield counties and the surrounding localities. The bank also operates in Marshall County West Virginia. The Bank provides a broad range of banking and financial services, which includes accepting demand, savings and time deposits and granting commercial, real estate and consumer loans. Unified conducts its business through its main office and stand alone operations center in Martins Ferry, Ohio and eighteen branches located in the counties mentioned above. Unified has no single customer or related group of customers whose banking activities, whether through deposits or lending, would have a material impact on the continued earnings capabilities if those activities were removed. For a discussion of the development of the Company's business over the course of the prior fiscal year, refer to "Management's Discussion and Analysis" from the 2023 Annual Report To Shareholders filed herewith as Exhibit 13. Competition The markets in which Unified operates continue to be highly competitive. Unified competes for loans and deposits with other retail commercial banks, savings and loan associations, finance companies, credit unions and other types of financial institutions within the Mid-Ohio valley geographic area along the eastern border of Ohio including Belmont, Harrison and Jefferson counties and extending into the northern panhandle of West Virginia and the Tusca

View Full Filing

View this 10-K filing on SEC EDGAR