Company: UBCP
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001410578-25-001789
Chunk: 6

Company: UNITED BANCORP INC /OH/
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 6
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ITEM 2. Management’s Discussion and Analysis of Financial Condition and Results of Operation

The following discusses the consolidated financial condition of the Company as of June 30, 2025, as compared to December 31, 2024, and the results of consolidated operations for the three and six months ended June 30, 2025, compared to the same period in 2024. This discussion should be read in conjunction with the interim condensed consolidated financial statements and related footnotes included herein.

Introduction

We are happy to report on the increased earnings for the second quarter ended June 30, 2025 and, the overall solid performance achieved by United Bancorp, Inc. (UBCP) for the first six months of 2025. For the quarter, our Company produced net income and diluted earnings per share of $1,914,000 and $0.33, which are respective increases of $175,000 and $0.03, or 10.0% for each, over the results achieved for the second quarter of the previous year. In addition, and on a linked-quarter basis, our Company’s net income and diluted earnings per share results also respectively increased by $43,000, or 2.3%, and $0.01 or 3.1%. For the first six months of 2025, UBCP produced net income of $3,786,000, an increase of $54,000, or 1.4%, over the previous year and diluted earnings per share of $0.65, which matched the level achieved the previous year. Considering, over the course of the past twelve months, we have undertaken several transformative projects that have added to our noninterest expense levels, such as: the construction of our new Wheeling Banking Center, the development and scaling out of both Unified Mortgage and our Treasury Management Programs, the investment in new technology and digital transformation and the acquisition of a property in St. Clairsville, Ohio that will become our Unified Center--- which will house our Accounting, Information Technology and Customer Sales and Service Functions--- we are very happy with the present performance of our Company. With our unwavering focus on growing our Company through our investment in infrastructure, product development and delivery, we strongly believe that these current undertakings, which are dilutive to current financial performance, will provide a pathway to future growth and lead to increasingly higher performance over the course of the next twelve to twenty-four months, and help us to maintain our overall relevance for many years to come