United Bancorp Restates Financials
Ticker: UBCP · Form: 8-K · Filed: Apr 19, 2024 · CIK: 731653
| Field | Detail |
|---|---|
| Company | United Bancorp Inc /Oh/ (UBCP) |
| Form Type | 8-K |
| Filed Date | Apr 19, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $1.00 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-restatement, audit-issue
Related Tickers: UBOH
TL;DR
UBOH won't rely on old financials - expect restatements.
AI Summary
United Bancorp, Inc. (OH) filed an 8-K on April 19, 2024, to report that it will not rely on previously issued financial statements or related audit reports. This decision impacts financial reporting and may require restatements. The company is incorporated in Ohio and its principal executive offices are located in Martins Ferry.
Why It Matters
This filing indicates potential inaccuracies in past financial reporting, which could affect investor confidence and require significant adjustments to the company's financial statements.
Risk Assessment
Risk Level: medium — Non-reliance on previously issued financial statements suggests potential accounting errors or control deficiencies that could impact the company's financial health and reporting accuracy.
Key Players & Entities
- UNITED BANCORP INC /OH/ (company) — Registrant
- April 17, 2024 (date) — Date of earliest event reported
- April 19, 2024 (date) — Filing date
- Martins Ferry, Ohio (location) — Principal executive offices
FAQ
What specific financial statements are affected by this non-reliance?
The filing does not specify which particular financial statements are affected, only that the company will not rely on previously issued ones.
What is the reason for not relying on previously issued financial statements?
The filing does not provide the specific reasons for the non-reliance on previously issued financial statements.
When was the decision made to not rely on previously issued financial statements?
The earliest event reported is April 17, 2024, which is the date the company decided not to rely on previously issued financial statements.
Will there be a restatement of financial results?
While not explicitly stated as a 'restatement', the non-reliance on previously issued financial statements strongly implies that corrections or restatements will be necessary.
What is the company's ticker symbol?
The ticker symbol is not explicitly mentioned in this 8-K filing, but the company name is United Bancorp, Inc. (OH).
Filing Stats: 486 words · 2 min read · ~2 pages · Grade level 7.1 · Accepted 2024-04-19 12:51:55
Key Financial Figures
- $1.00 — ch registered Common Stock, Par Value $1.00 UBCP NASDAQ Capital Market Check th
Filing Documents
- tm2412219d1_8k.htm (8-K) — 37KB
- 0001104659-24-049309.txt ( ) — 205KB
- ubcp-20240414.xsd (EX-101.SCH) — 3KB
- ubcp-20240414_lab.xml (EX-101.LAB) — 33KB
- ubcp-20240414_pre.xml (EX-101.PRE) — 22KB
- tm2412219d1_8k_htm.xml (XML) — 3KB
07. Submission
Item 5.07. Submission of Matters to a Vote of Securities Holders. The Annual Meeting of Shareholders of United Bancorp, Inc. was held on April 17, 2024. The only matters decided by a vote of the shareholders were: 1. The election of the following Directors to a new term of office to serve until the next annual meeting of stockholders: Votes Cast For Votes Withheld Broker Non-Votes Scott A. Everson 3,153,035.76 48,410.22 1,181,985.00 Gary W. Glessner 3,139,475.76 61,970.22 1,181,985.00 Brian M. Hendershot 3,134,025.81 67,420.17 1,181,985.00 John M. Hoopingarner 3,081,509.76 119,936.22 1,181,985.00 Richard L. Riesbeck 3,059,890.76 141,555.22 1,181,985.00 Bethany E. Schunn 3,176,049.81 25,396.17 1,181,985.00 2. The ratification of the Audit Committee's appointment of S.R. Snodgrass, P.C. to serve as the Company's Independent Registered Public Accounting Firm for the 2024 fiscal year. Votes Cast For Votes Against Votes Abstained Broker Non-Votes 4,244,878.76 66,049.62 72,502.61 0.00
Signatures
Signatures Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Dated: April 18, 2024 United Bancorp, Inc. /s/ Scott A. Everson Scott A. Everson, Chief Executive Officer