Company: UBCP
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001410578-25-001789
Chunk: 11

Company: UNITED BANCORP INC /OH/
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2M
Chunk 11
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 our Company’s gross loans, along with the continued repricing of our loan portfolio in a higher-rate environment, should contribute to our Company continuing to generate higher levels of interest income on loans and loan related fees, which should positively contribute to the aforementioned projection of higher levels of net interest income being realized for the remainder of the year. Looking at the interest expense side of the net interest margin, our Company’s total interest expense did respectively increase on both a year-to-date and year-over-year basis for the most recently ended quarter by $229,000, or 3.2%, and $139,000 or 3.8%. This modest increase in our Company’s total interest expense was primarily driven by a year-over-year increase in our total deposits of $19.8 million, or 3.2%, to a level of $642.9 million and a shift in our Company’s depository mix with a decrease in our lower-cost funding (consisting of demand and savings balances) and an increase in our higher-cost term funding (consisting of time deposits). Even with this reality, our Company’s interest expense to average assets only increased year-over-year by five (5) basis points to a level of 1.79%. In the present environment in which we operate,