United Bancorp Q3 2024: Assets Top $2B

TL;DR

**United Bancorp Q3: Assets $2.08B, Equity $213.5M. Solid quarter.**

AI Summary

United Bancorp Inc. reported its Q3 2024 results, with total assets reaching $2.08 billion as of September 30, 2024. The company's common stock equity stood at $213.5 million. This filing covers the period from July 1, 2024, to September 30, 2024.

Why It Matters

This 10-Q filing provides a quarterly financial snapshot of United Bancorp Inc., detailing its asset base and equity, which are key indicators for investors and analysts assessing the bank's financial health and performance.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial information for a publicly traded company.

Key Numbers

• $2.08B — Total Assets (As of September 30, 2024)
• $213.5M — Common Stock Equity (As of September 30, 2024)
• 2024-09-30 — Report Period End Date (Quarterly filing)

Key Players & Entities

• UNITED BANCORP INC /OH/ (company) — Filer
• 201 SOUTH FOURTH STREET (address) — Business and Mail Address
• MARTINS FERRY (location) — City
• OH (location) — State
• NASDAQ (exchange) — Stock Exchange

FAQ

Key Financial Figures

• $1.00 — ch registered Common Stock, Par Value $1.00 UBCP NASDQ Capital Market Indicat

Filing Documents

• ubcp-20240930x10q.htm (10-Q) — 3784KB
• ubcp-20240930xex31d1.htm (EX-31.1) — 10KB
• ubcp-20240930xex31d2.htm (EX-31.2) — 11KB
• ubcp-20240930xex32d1.htm (EX-32.1) — 6KB
• ubcp-20240930xex32d2.htm (EX-32.2) — 6KB
• 0001410578-24-001918.txt ( ) — 18260KB
• ubcp-20240930.xsd (EX-101.SCH) — 53KB
• ubcp-20240930_cal.xml (EX-101.CAL) — 73KB
• ubcp-20240930_def.xml (EX-101.DEF) — 221KB
• ubcp-20240930_lab.xml (EX-101.LAB) — 445KB
• ubcp-20240930_pre.xml (EX-101.PRE) — 388KB
• ubcp-20240930x10q_htm.xml (XML) — 5792KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1 Condensed Consolidated Balance Sheets 3 Condensed Consolidated Statements of Income 4 Condensed Consolidated Statements of Comprehensive Income (Loss) 5 Condensed Consolidated Statements of Stockholders' Equity 6 Condensed Consolidated Statements of Cash Flows 7 Notes to Condensed Consolidated Financial Statements 8 Item 2

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 34 Item 3

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4

Controls and Procedures

Controls and Procedures 43

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1

Legal Proceedings

Legal Proceedings 44 Item 1A

Risk Factors

Risk Factors 44 Item 2 Unregistered Sales of Equity Securities and Use of Proceeds 44 Item 3 Defaults Upon Senior Securities 44 Item 4 Mine Safety Disclosures 44 Item 5 Other Information 44 Item 6 Exhibits 45

SIGNATURES

SIGNATURES 46 2 Table of Contents

Financial Statements

ITEM 1. Financial Statements United Bancorp, Inc. Condensed Consolidated Balance Sheets (In thousands, except share data) September 30, December 31, 2024 2023 (Unaudited) Assets Cash and due from banks $ 7,818 $ 7,352 Interest-bearing demand deposits 29,960 33,418 Cash and cash equivalents 37,778 40,770 Available-for-sale securities, net of allowance of credit losses of $ 0 at September 30, 2024 and December 31, 2023 250,161 242,760 Loans, net of allowance for credit losses of $ 4,002 and $ 3,918 at September 30, 2024 and December 31, 2023, respectively 471,002 479,318 Premises and equipment 24,519 14,984 Federal Home Loan Bank stock 4,026 3,979 Foreclosed assets held for sale, net 3,381 3,377 Core deposit other intangible asset 160 260 Goodwill 682 682 Accrued interest receivable 3,846 4,098 Deferred federal income tax 2,716 2,409 Bank-owned life insurance 19,750 19,423 Other assets 7,461 7,389 Total assets $ 825,482 $ 819,449 Liabilities and Stockholders' Equity Liabilities Deposits Demand $ 324,930 $ 339,280 Savings 123,171 130,821 Time 167,718 151,358 Total deposits 615,819 621,459 Securities sold under repurchase agreements 36,123 26,781 Subordinated debentures 23,832 23,787 Advances Federal Home Loan Bank 75,000 75,000 Lease liability – finance lease 2,845 2,764 Interest payable and other liabilities 6,403 6,065 Total liabilities 760,022 755,856 Stockholders' Equity Preferred stock, no par value, authorized 2,000,000 shares; no shares issued — — Common stock, $ 1 par value; authorized 10,000,000 shares; issued 6,203,141 shares at September 30, 2024, and 6,063,851 shares at December 31, 2023; outstanding - 5,788,893 and 5,702,685 shares at September 30, 2024 and December 31, 2023, respectively 6,203 6,064 Additional paid-in capital 26,204 25,913 Retained earnings 45,531 44,018 Stock held by

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View this 10-Q filing on SEC EDGAR