| UNITED BANCORP, INC.                                    |
|---------------------------------------------------------|
| (Exact name of registrant as specified in its Charter.) |

|   | Ohio                                                           |   | 34-1405357                         |   |
|--------|----------------------------------------------------------------|--------|------------------------------------|--------|
|   | (State or other jurisdiction of incorporation or organization) |   | (IRS) Employer Identification No.) |   |

|   | 201 South Fourth Street, Martins Ferry, Ohio |   | 43935      |   |
|--------|----------------------------------------------|--------|------------|--------|
|   | (Address of principal executive offices)     |   | (ZIP Code) |   |

| None                                  | N/A                                         |
|---------------------------------------|---------------------------------------------|
| (Title of class)                      | (Name of each exchange on which registered) |
| Common Stock, Par Value $1.00 a share | NASDAQ Capital Market                       |

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| Item 1  | Business |
|--------------|----------|

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|   | A | The following table sets forth the carrying amount of securities at December 31, 2010 and 2009. |
|--------|---|-------------------------------------------------------------------------------------------------|

|                                                     |   | December 31, |   |
|----------------------------------------------------------|--------|-------------------|--------|
|                                                     |   | 2010              |   |   | 2009 |   |
|                                                     |   | (In thousands)    |   |
|                                                     |   |              |   |   |   |   |
| Available for sale (at fair value)                       |   |              |   |   |   |   |
| U.S. Government agencies                                 |   | $                 | 61,233 |   |   | $ | 57,204 |   |
| State and polical subdivisions                           |   |              | 25,295 |   |   |   | 13,031 |   |
| Government sponsored entities mortgage-backed securities |   |              | 9,614  |   |   |   | 26,344 |   |
| Equity securities                                        |   |              | 13     |   |   |   | 6 |   |
|                                                     |   |              |   |   |   |   |   |   |
|                                                     |   | $                 | 96,155 |   |   | $ | 96,585 |   |
|                                                     |   |              |   |   |   |   |   |   |
| Held to maturity (at cost)                               |   |              |   |   |   |   |   |   |
| State and municipal subdivisions                         |   | $                 | 6,331  |   |   | $ | 14,277 |   |

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|   | B | Contractual maturities of securities at year-end 2010 were as follows: |
|--------|---|------------------------------------------------------------------------|

|                                                    |   | AmortizedCost |    |   | EstimatedFair Value |   |    | Average TaxEquivalent Yield |   |
|---------------------------------------------------------|--------|---------------|---------|--------|--------------------------|--------|---------|---------------------------------------|--------|
|                                                    |   |          |    |   |                     |   |    |                                  |   |
| Available for Sale                                      |   |          |    |   |                     |   |    |                                  |   |
|                                                    |   |          |    |   |                     |   |    |                                  |   |
| US Government agencies                                  |   |          |    |   |                     |   |    |                                  |   |
| Under 1 Year                                            |   | $             | — |   |                     | $      | — |                                  |   |   | 0.00 | % |
| 1 - 5 Years                                             |   |          | 15,997  |   |                     |   | 15,950  |                                  |   |   | 0.92 | % |
| 5 - 10 Years                                            |   |          | 11,985  |   |                     |   | 11,955  |                                  |   |   | 1.88 | % |
| Over 10 Years                                           |   |          | 33,926  |   |                     |   | 33,328  |                                  |   |   | 2.01 | % |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Total                                                   |   |          | 61,908  |   |                     |   | 61,233  |                                  |   |   | 1.70 | % |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Government sponsored enities mortgage-backed securities |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Under 1 Year                                            |   |          | — |   |                     |   | — |                                  |   |   | 0.00 | % |
| 1 - 5 Years                                             |   |          | 605     |   |                     |   | 628     |                                  |   |   | 4.27 | % |
| 5 - 10 Years                                            |   |          | 8,172   |   |                     |   | 8,637   |                                  |   |   | 4.70 | % |
| Over 10 Years                                           |   |          | 328     |   |                     |   | 349     |                                  |   |   | 5.05 | % |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Total                                                   |   |          | 9,105   |   |                     |   | 9,614   |                                  |   |   | 4.69 | % |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| State and municipal subdivisions                        |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Under 1 Year                                            |   |          | 170     |   |                     |   | 171     |                                  |   |   | 7.07 | % |
| 1 - 5 Years                                             |   |          | 2,847   |   |                     |   | 2,921   |                                  |   |   | 4.99 | % |
| 5 - 10 Years                                            |   |          | 9,287   |   |                     |   | 9,421   |                                  |   |   | 5.84 | % |
| Over 10 Years                                           |   |          | 12,704  |   |                     |   | 12,782  |                                  |   |   | 5.97 | % |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Total                                                   |   |          | 25,008  |   |                     |   | 25,295  |                                  |   |   | 5.81 | % |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Equity securities                                       |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Equity securities                                       |   |          | 4       |   |                     |   | 13      |                                  |   |   | 0.00 | % |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Total securities available for sale                     |   | $             | 96,025  |   |                     | $      | 96,155  |                                  |   |   | 3.06 | % |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Held to Maturity                                        |   |          |    |   |                     |   |    |                                  |   |   |   |   |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| State and municipal subdivisions                        |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Under 1 Year                                            |   | $             | 710     |   |                     | $      | 715     |                                  |   |   | 7.38 | % |
| 1 - 5 Years                                             |   |          | 2,374   |   |                     |   | 2,479   |                                  |   |   | 5.89 | % |
| 5 - 10 Years                                            |   |          | 3,247   |   |                     |   | 3,316   |                                  |   |   | 6.22 | % |
| Over 10 Years                                           |   |          | — |   |                     |   | — |                                  |   |   | 0.00 | % |
|                                                    |   |          |    |   |                     |   |    |                                  |   |   |   |   |
| Total securities held to maturity                       |   | $             | 6,331   |   |                     | $      | 6,510   |                                  |   |   | 6.10 | % |

|   | C | Excluding holdings of U.S. Government agency obligations, there were no investments in securities of any one issuer exceeding 10% of the Company’s consolidated shareholders’ equity at December 31, 2010. |
|--------|---|------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

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|                          |   | December 31, |    |
|-------------------------------|--------|-------------------|---------|
|                          |   | 2010              |    |   | 2009 |   |   | 2008 |   |   | 2007 |   |   | 2006 |   |
|                          |   | (In thousands)    |    |
|                          |   |              |    |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial loans              |   | $                 | 32,153  |   |   | $ | 20,966 |   |   | $ | 19,493 |   |   | $ | 18,701 |   |   | $ | 18,557 |   |
| Commercial real estate loans  |   |              | 136,369 |   |   |   | 129,757 |   |   |   | 120,648 |   |   |   | 115,744 |   |   |   | 114,850 |   |
| Residential real estate loans |   |              | 63,378  |   |   |   | 62,128 |   |   |   | 59,807 |   |   |   | 58,524 |   |   |   | 56,167 |   |
| Installment loans             |   |              | 46,877  |   |   |   | 44,875 |   |   |   | 38,270 |   |   |   | 41,675 |   |   |   | 41,943 |   |
|                          |   |              |    |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total loans                   |   | $                 | 278,777 |   |   | $ | 257,726 |   |   | $ | 238,218 |   |   | $ | 234,644 |   |   | $ | 231,517 |   |

|                         |   | One Year orLess |   |   | One ThroughFive Years |   |   | AfterFive Years |   |   | Total   |   |
|------------------------------|--------|---------------------------|--------|--------|---------------------------------|--------|--------|----------------------|--------|--------|---------|--------|
|                         |   | (In thousands)            |   |
|                         |   |                      |   |   |                            |   |   |                 |   |   |    |   |
| Commercial loans             |   | $                         | 8,914  |   |                            | $      | 16,016 |                 |   | $      | 7,223   |   |   | $ | 32,153 |   |
| Commercial real estate loans |   |                      | 3,462  |   |                            |   | 23,255 |                 |   |   | 109,652 |   |   |   | 136,369 |   |
|                         |   |                      |   |   |                            |   |   |                 |   |   |    |   |   |   |   |   |
| Total                        |   | $                         | 12,376 |   |                            | $      | 39,271 |                 |   | $      | 116,875 |   |   | $ | 168,522 |   |

|                         |   | Fixed Rate |   |   | Variable Rate |   |    | Total > OneYear |   |
|------------------------------|--------|-----------------|--------|--------|--------------------|--------|---------|------------------------------|--------|
|                         |   | (In thousands)  |   |
|                         |   |            |   |   |               |   |    |                         |   |
| Commercial loans             |   | $               | 12,704 |   |               | $      | 10,535  |                         |   | $ | 23,239 |   |
| Commercial real estate loans |   |            | 10,654 |   |               |   | 122,253 |                         |   |   | 132,907 |   |
|                         |   |            |   |   |               |   |    |                         |   |   |   |   |
| Total                        |   | $               | 23,358 |   |               | $      | 132,788 |                         |   | $ | 156,146 |   |

|                                                           |   | December 31,   |   |
|----------------------------------------------------------------|--------|---------------------|--------|
|                                                           |   | 2010                |   |   | 2009 |   |   | 2008 |   |   | 2007 |   |   | 2006 |   |
|                                                           |   | (In thousands) |   |
|                                                           |   |                |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Nonaccrual basis                                               |   | $                   | 4,526  |   |   | $ | 5,426 |   |   | $ | 5,398 |   |   | $ | 1,822 |   |   | $ | 3,396 |   |
| Accruing loans 90 days or greater past due                     |   |                | 25     |   |   |   | 971 |   |   |   | 1,573 |   |   |   | 2,585 |   |   |   | 55 |   |
| Impaired loans                                                 |   |                | 7,274  |   |   |   | 4,728 |   |   |   | 7,523 |   |   |   | 3,399 |   |   |   | 3,122 |   |
| Impaired loan with related allowance for unconfirmed losses    |   |                | 5,493  |   |   |   | 3,265 |   |   |   | 5,571 |   |   |   | 2,347 |   |   |   | 1,012 |   |
| Impaired loan without related allowance for unconfirmed losses |   |                | 1,781  |   |   |   | 1,463 |   |   |   | 1,952 |   |   |   | 1,052 |   |   |   | 2,110 |   |

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|                                                               |   | 2010                |    |   | 2009   |   |    | 2008   |   |   | 2007           |   |   | 2006   |    |
|--------------------------------------------------------------------|--------|---------------------|---------|--------|--------|--------|---------|--------|--------|--------|----------------|--------|--------|--------|---------|
|                                                               |   | (In thousands) |    |
| Loans                                                              |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |
| Gross loans outstanding                                            |   | $                   | 278,777 |   |   | $      | 257,726 |   |   | $      | 238,218        |   |   | $      | 234,644 |   |   | $ | 231,517 |   |
| Average loans outstanding                                          |   | $                   | 263,480 |   |   | $      | 243,599 |   |   | $      | 235,670        |   |   | $      | 228,673 |   |   | $ | 234,436 |   |
|                                                               |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |   |   |   |   |   |
| Allowance for Loan Losses                                          |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |   |   |   |   |   |
| Balance at beginning of year                                       |   | $                   | 2,390   |   |   | $      | 2,770   |   |   | $      | 2,447          |   |   | $      | 2,345   |   |   | $ | 2,904 |   |
| Loan charge-offs:                                                  |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |   |   |   |   |   |
| Commercial                                                         |   |                | 256     |   |   |   | 125     |   |   |   | 92             |   |   |   | 206     |   |   |   | 1,420 |   |
| Commercial real estate                                             |   |                | 775     |   |   |   | 1,038   |   |   |   | 94             |   |   |   | 145     |   |   |   | –– |   |
| Residential real estate                                            |   |                | 160     |   |   |   | 295     |   |   |   | 320            |   |   |   | 204     |   |   |   | 350 |   |
| Installment                                                        |   |                | 579     |   |   |   | 472     |   |   |   | 560            |   |   |   | 583     |   |   |   | 370 |   |
| Total loan charge-offs                                             |   |                | 1,770   |   |   |   | 1,930   |   |   |   | 1,066          |   |   |   | 1,138   |   |   |   | 2,140 |   |
|                                                               |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |   |   |   |   |   |
| Loan recoveries                                                    |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |   |   |   |   |   |
| Commercial                                                         |   |                | 37      |   |   |   | 18      |   |   |   | 12             |   |   |   | 9       |   |   |   | 22 |   |
| Commercial real estate                                             |   |                | 3       |   |   |   | 8       |   |   |   | –– |   |   |   | 7       |   |   |   | –– |   |
| Residential real estate                                            |   |                | 3       |   |   |   | 56      |   |   |   | 23             |   |   |   | 45      |   |   |   | 34 |   |
| Installment                                                        |   |                | 261     |   |   |   | 143     |   |   |   | 166            |   |   |   | 186     |   |   |   | 148 |   |
| Total loan recoveries                                              |   |                | 304     |   |   |   | 225     |   |   |   | 201            |   |   |   | 247     |   |   |   | 204 |   |
|                                                               |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |   |   |   |   |   |
| Net loan charge-offs                                               |   |                | 1,466   |   |   |   | 1,705   |   |   |   | 865            |   |   |   | 891     |   |   |   | 1,936 |   |
|                                                               |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |   |   |   |   |   |
| Provision for loan losses                                          |   |                | 1,816   |   |   |   | 1,325   |   |   |   | 1,188          |   |   |   | 993     |   |   |   | 1,377 |   |
|                                                               |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |   |   |   |   |   |
| Balance at end of year                                             |   | $                   | 2,740   |   |   | $      | 2,390   |   |   | $      | 2,770          |   |   | $      | 2,447   |   |   | $ | 2,345 |   |
|                                                               |   |                |    |   |   |   |    |   |   |   |           |   |   |   |    |   |   |   |   |   |
| Ratio of net charge-offs to average loans outstanding for the year |   |                | 0.55    | %      |   |   | 0.70    | %      |   |   | 0.37           | %      |   |   | 0.39    | % |   |   | 0.83 | % |

|               |   | 2010            |   |   | 2009                                   |   |   | 2008            |   |   | 2007                                   |   |   | 2006            |   |
|-------------------------|--------|-----------------|--------|--------|----------------------------------------|--------|--------|-----------------|--------|--------|----------------------------------------|--------|--------|-----------------|--------|
|                    |   | AllowanceAmount |   |   | % of Loansto TotalLoans |   |   | AllowanceAmount |   |   | % of Loansto TotalLoans |   |   | AllowanceAmount |   |   | % of Loansto TotalLoans |   |   | AllowanceAmount |   |   | % of Loansto TotalLoans |   |   | AllowanceAmount |   |   | % of Loansto TotalLoans |   |
|                    |   | (In thousands)  |   |
| Loan type               |   |            |   |   |                                   |   |   |            |   |   |                                   |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Commercial              |   | $               | 561    |   |                                   |   | 11.53  | %               |   | $      | 263                                    |   |   |            | 8.13   | % |   | $ | 331 |   |   |   | 8.18 | % |   | $ | 242 |   |   |   | 7.97 | % |   | $ | 197 |   |   |   | 8.02 | % |
| Commercial real estate  |   |            | 1,566  |   |                                   |   | 48.92  | %               |   |   | 1626                                   |   |   |            | 50.35  | % |   |   | 2,046 |   |   |   | 50.65 | % |   |   | 1,497 |   |   |   | 49.33 | % |   |   | 1,216 |   |   |   | 49.61 | % |
| Residential real estate |   |            | 140    |   |                                   |   | 22.73  | %               |   |   | 100                                    |   |   |            | 24.11  | % |   |   | 153 |   |   |   | 25.11 | % |   |   | 117 |   |   |   | 24.94 | % |   |   | 138 |   |   |   | 24.26 | % |
| Installment             |   |            | 229    |   |                                   |   | 16.82  | %               |   |   | 251                                    |   |   |            | 17.41  | % |   |   | 176 |   |   |   | 16.07 | % |   |   | 243 |   |   |   | 17.76 | % |   |   | 442 |   |   |   | 18.12 | % |
| General                 |   |            | 244    |   |                                   |   | N/A    |            |   |   | 150                                    |   |   |            | N/A    |   |   |   | 64 |   |   |   | N/A |   |   |   | 348 |   |   |   | N/A |   |   |   | 352 |   |   |   | N/A |   |
|                    |   |            |   |   |                                   |   |   |            |   |   |                                   |   |   |            |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                   |   | $               | 2,740  |   |                                   |   | 100.00 | %               |   | $      | 2,390                                  |   |   |            | 100.00 | % |   | $ | 2,770 |   |   |   | 100.00 | % |   | $ | 2,447 |   |   |   | 100.00 | % |   | $ | 2,345 |   |   |   | 100.00 | % |

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|   | A | Schedule of Average Deposit Amounts and Rates |
|--------|---|-----------------------------------------------|

|   | Refer to Management’s Discussion and Analysis and Results of Operations “Average Balances, Net Interest Income and Yields Earned and Rates Paid” set forth in our 2010 Annual Report and incorporated herein by reference. |
|--------|----------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

|   | B | Maturity analysis of time deposits greater than $100,000. |
|--------|---|-----------------------------------------------------------|

|                           |   | 2010                |   |
|--------------------------------|--------|---------------------|--------|
|                           |   | (In thousands) |   |
|                           |   |                |   |
| Three months or less           |   | $                   | 3,637  |   |
| Over three through six months  |   |                | 6,225  |   |
| Over six through twelve months |   |                | 5,495  |   |
| Over twelve months             |   |                | 25,507 |   |
|                           |   |                |   |   |
| Total                          |   | $                   | 40,864 |   |

|                  |   | December 31, |   |
|-----------------------|--------|-------------------|--------|
|                  |   | 2010              |   |   | 2009 |   |
|                  |   |              |   |   |   |   |
| Dividend Payout Ratio |   |              | 107.69 | % |   |   | 90.32 | % |
| Equity to Assets      |   |              | 8.40   | % |   |   | 7.90 | % |

----

|   | VII | Short-Term Borrowings |
|--------|-----|-----------------------|

|                                          |   | 2010                             |   |   | 2009   |   |
|-----------------------------------------------|--------|----------------------------------|--------|--------|--------|--------|
|                                          |   | (Dollars in thousands) |   |
|                                          |   |                             |   |   |   |   |
| Balance at December 31,                       |   | $                                | 11,321 |   |   | $      | 10,012 |   |
| Weighted average interest rate at December 31 |   |                             | 0.21   | %      |   |   | 0.39 | % |
| Average daily balance during the year         |   | $                                | 12,734 |   |   | $      | 10,999 |   |
| Average interest rate during the year         |   |                             | 0.21   | %      |   |   | 0.39 | % |
| Maximum month-end balance during the year     |   | $                                | 14,931 |   |   | $      | 13,329 |   |

|                                                                                              |   |   |   | Executive Officers Positions held with Company;                      |
|---------------------------------------------------------------------------------------------------|--------|--------|--------|----------------------------------------------------------------------|
| Name                                                                                              |   | Age    |   | Business Experience                                                  |
|                                                                                              |   |   |   |                                                                 |
| James W. Everson                                                                                  |   | 72     |   | Chairman, President and Chief Executive Officer                      |
|                                                                                              |   |   |   |                                                                 |
| Scott Everson                                                                                     |   | 43     |   | Senior Vice President and Chief Operating Officer                    |
|                                                                                              |   |   |   |                                                                 |
| Randall M. Greenwood                                                                              |   | 47     |   | Senior Vice President, Chief Financial Officer, Secretary /Treasurer |
|                                                                                              |   |   |   |                                                                 |
| Matthew F. Branstetter                                                                            |   | 43     |   | Vice President – Chief Lending Officer                         |
|                                                                                              |   |   |   |                                                                 |
|                                                                                              |   |   |   |                                                                 |
| Elmer K. Leeper                                                                                   |   | 44     |   | Vice President – Chief Retail Banking Offier                   |
|                                                                                              |   |   |   |                                                                 |
| Michael A. Lloyd                                                                                  |   | 42     |   | Vice President – Chief Information Officer                     |
|                                                                                              |   |   |   |                                                                 |
| Each individual has held the position noted during the past five years, except for the following: |
|                                                                                              |   |   |   |                                                                 |
| Matthew F. Branstetter                                                                            |   | 43     |   | Vice President Chief Lending Officer                                 |

----

| Item 2 | Properties |
|--------|------------|

| Location               |   | Owned or Leased |   | Location            |   | Owned or Leased |
|------------------------|--------|---------------------------|--------|---------------------|--------|---------------------------|
|                   |   |                      |   |                |   |                      |
| Bridgeport, Ohio       |   | Owned                     |   | Sherrodsville, Ohio |   | Owned                     |
| Colerain, Ohio         |   | Owned                     |   | Glouster, Ohio      |   | Owned                     |
| Jewett, Ohio           |   | Owned                     |   | Glouster, Ohio      |   | Owned                     |
| St. Clairsville, Ohio  |   | Leased                    |   | Amesville, Ohio     |   | Owned                     |
| Dover, Ohio            |   | Owned                     |   | Nelsonville, Ohio   |   | Owned                     |
| Dellroy, Ohio          |   | Owned                     |   | Lancaster, Ohio     |   | Owned                     |
| New Philadelphia, Ohio |   | Owned                     |   | Lancaster, Ohio     |   | Owned                     |
| Strasburg, Ohio        |   | Owned                     |   | Lancaster, Ohio     |   | Owned                     |
| Tiltonsville, Ohio     |   | Owned                     |   |                |   |                      |
| Dillonvale, Ohio       |   | Leased                    |   |                |   |                      |
| St. Clairsville, Ohio  |   | Owned                     |   |                |   |                      |

| Item 3 | Legal Proceedings |
|--------|-------------------|

| Item 4 | [Removed and Reserved] |
|--------|------------------------|

| Item 5 | Market for Registrant’s Common Equity, Related Shareholder Matters and Issuer Purchases of Equity Securities |
|--------|--------------------------------------------------------------------------------------------------------------------|

----

| Period                         |   | (a) Total Number ofShares (or Units)Purchased |   |   | (b) Average Price Paidper Share (or Unit) |   |   | (c) Total Number ofShares (or Units)Purchased as Partof PubliclyAnnounced Plansor Programs |   |   | (d) Maximum Number (orApproximate DollarValue) of Shares (orUnits) that May Yet BePurchased Under thePlans or Programs |   |
|--------------------------------|--------|------------------------------------------------------------------------|--------|--------|-------------------------------------------------------------------------|--------|--------|----------------------------------------------------------------------------------------------------------------------------------------------|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|--------|
| Month #l10/1/2010 to10/31/2010 |   |                                                                   | -      |   |                                                                    |   | -      |                                                                                                                                         |   |   | -                                                                                                                                                                                                 |   |   | $ | 1,733,302 |   |
|                           |   |                                                                   |   |   |                                                                    |   |   |                                                                                                                                         |   |   |                                                                                                                                                                                              |   |   |   |   |   |
| Month #211/1/2010 to11/30/2010 |   |                                                                   | -      |   |                                                                    |   | -      |                                                                                                                                         |   |   | -                                                                                                                                                                                                 |   |   |   | - |   |
|                           |   |                                                                   |   |   |                                                                    |   |   |                                                                                                                                         |   |   |                                                                                                                                                                                              |   |   |   |   |   |
| Month #312/1/2010 to12/31/2010 |   |                                                                   | -      |   |                                                                    |   | -      |                                                                                                                                         |   |   | -                                                                                                                                                                                                 |   |   |   | - |   |
|                           |   |                                                                   |   |   |                                                                    |   |   |                                                                                                                                         |   |   |                                                                                                                                                                                              |   |   |   |   |   |
| Total                          |   |                                                                   | -      |   |                                                                    |   | -      |                                                                                                                                         |   |   | -                                                                                                                                                                                                 |   |   |   | - |   |

| Item 6 | Selected Consolidated Financial Data |
|--------|--------------------------------------|

| Item 7 | Management’s Discussion and Analysis of Financial Condition and Results of Operations |
|--------|---------------------------------------------------------------------------------------------|

----

| Item 8 | Financial Statements and Supplementary Data |
|--------|---------------------------------------------|

| Item 9 | Changes In and Disagreements With Accountants |
|--------|-----------------------------------------------|

| Item 9B | Other Information |
|---------|-------------------|

|   | None. |
|--------|-------|

----

| Equity Compensation Plan Information        |   |
|------------------------------------------------------------|--------|
|                                                       |   | Number of securities to beissued upon exercise ofoutstanding options, warrantsand rights |   |   | Weighted-average exerciseprice of outstanding options,warrants and rights |   |   | Number of securities remainingavailable for future issuanceunder equity compensationplans (excluding securitiesreflected in column (a)) |   |
| Equity compensation plans approved by security holders     |   |   | 53,714 |   |   | $ | 10.34 |   |   |   | 320,000 |   |
| Equity compensation plans not approved by security holders |   |   |   |   |   |   |   |   |   |   |   |   |
|                                                       |   |   |   |   |   |   |   |   |   |   |   |   |
| Total                                                      |   |   | 53,714 |   |   | $ | 10.34 |   |   |   | 320,000 |   |

----

|   | (a) | The following Consolidated Financial Statements and related Notes to Consolidated Financial Statements, together with the report of the Independent Registered Public Accounting Firm, appear on pages 26 through 80 of the United Bancorp, Inc. 2010 Annual Report and are incorporated herein by reference. |
|--------|-----|---------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| Consolidated Balance Sheets December 31, 2010 and 2009                                       |   |   |
|----------------------------------------------------------------------------------------------|--------|--------|
|                                                                                         |   |   |
| Consolidated Statements of Income Years Ended December 31, 2010 and 2009                     |   |   |
|                                                                                         |   |   |
| Consolidated Statements of Stockholders’ Equity Years Ended December 31, 2010 and 2009 |   |   |
|                                                                                         |   |   |
| Consolidated Statements of Cash Flows  Years Ended December 31, 2010 and 2009      |   |   |
|                                                                                         |   |   |
| Notes to Consolidated Financial Statements  December 31, 2010 and 2009             |   |   |
|                                                                                         |   |   |
| Report of Independent Registered Public Accounting Firm                                      |   |   |

| Exhibit Number |   | Exhibit Description |
|---------------------|--------|---------------------|
|                |   |                |   |
|                | 3.1    |                | Amended Articles of Incorporation (1) |
|                |   |                |   |
|                | 3.2    |                | Amended Code of Regulations (2) |
|                |   |                |   |
|                | 4.0    |                | Instruments Defining the Rights of Security Holders (See Exhibits 3.1 and 3.2) |
|                |   |                |   |
|                | 10.1   |                | James W. Everson Change in Control Agreement (3) |
|                |   |                |   |
|                | 10.2   |                | Randall M. Greenwood Change in Control agreement (3) |
|                |   |                |   |
|                | 10.3   |                | Scott A. Everson Change in Control Agreement (3) |
|                |   |                |   |
|                | 10.5   |                | Not used |
|                |   |                |   |
|                | 10.6   |                | Michael A. Lloyd Change in Control Agreement (3) |
|                |   |                |   |
|                | 10.7   |                | United Bancorp, Inc. Stock Option Plan (4) |
|                |   |                |   |
|                | 10.8   |                | United Bancorp, Inc. and Subsidiaries Director Supplemental Life Insurance Plan, covering Messrs. Hoopingarner, McGehee, Riesbeck and Thomas. (5) |
|                |   |                |   |
|                | 10.9   |                | United Bancorp, Inc. and Subsidiaries Senior Executive Supplemental Life Insurance Plan, covering James W. Everson, Scott A. Everson, Randall M. Greenwood, Michael A. Lloyd and James A. Lodes. (5) |
|                |   |                |   |
|                | 10.10  |                | United Bancorp, Inc. and United Bancorp, Inc. Affiliate Banks Directors Deferred Compensation Plan. (5) |
|                |   |                |   |
|                | 10.11  |                | Amended and Restated Trust Agreement among United Bancorp, Inc. as Depository, Wilmington Trust Company, as Property Trustee, Wilmington Trust Company, as Delaware Trustee, and Administrative Trustees, dated as of November 17, 2005. (6) |

----

|   | 10.12  |   | Junior Subordinated Indenture between United Bancorp, Inc. and Wilmington Trust Company, as Trustee, dated as of November 17, 2005. (6)               |
|--------|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------------|
|   |   |   |                                                                                                                                                  |
|   | 10.13  |   | Guaranty Agreement between United Bancorp, Inc., as Guarantor, and Wilmington Trust Company, as Guarantee Trustee, dated as of November 17, 2005. (6) |
|   |   |   |                                                                                                                                                  |
|   | 10.14  |   | United Bancorp, Inc. 2008 Stock Incentive Plan (7)                                                                                                    |
|   |   |   |                                                                                                                                                  |
|   | 13     |   | 2010 Annual Report                                                                                                                                    |
|   |   |   |                                                                                                                                                  |
|   | 21     |   | Subsidiaries of the Registrant (5)                                                                                                                    |
|   |   |   |                                                                                                                                                  |
|   | 23.1   |   | Consent of BKD, LLP                                                                                                                                   |
|   |   |   |                                                                                                                                                  |
|   | 31.1   |   | Rule 13a-14(a) Certification – CEO                                                                                                              |
|   |   |   |                                                                                                                                                  |
|   | 31.2   |   | Rule 13a-14(a) Certification – CFO                                                                                                              |
|   |   |   |                                                                                                                                                  |
|   | 32.1   |   | Section 1350 Certification – CEO                                                                                                                |
|   |   |   |                                                                                                                                                  |
|   | 32.2   |   | Section 1350 Certification – CFO                                                                                                                |

| (1) | Incorporated by reference to Appendix B to the registrant’s Definitive Proxy Statement filed with the Securities and Exchange Commission on March 14, 2001. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (2) | Incorporated by reference to Appendix C to the registrant’s Definitive Proxy Statement filed with the Securities and Exchange Commission on March 14, 2001. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Incorporated by reference to the registrant’s 10-K filed with the Securities and Exchange Commission on March 27, 2003. |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

| (4) | Incorporated by reference to Exhibit A to the registrant’s Definitive Proxy Statement filed with the Securities and Exchange Commission on March 11, 1996. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Incorporated by reference to the registrant’s 10-K filed with the Securities and Exchange Commission on March 29, 2004. |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

| (6) | Incorporated by reference to the registrant’s 10-K filed with the Securities and Exchanges Commission on March 30, 2006. |
|-----|--------------------------------------------------------------------------------------------------------------------------------|

| (7) | Incorporated by reference to the registrant’s 8-K filed with the Securities and Exchange Commission on April 22, 2008. |
|-----|------------------------------------------------------------------------------------------------------------------------------|

----

| (Registrant) United Bancorp, Inc. |                                            |   |
|-----------------------------------|-------------------------------------------------|--------|
|                              |                                            |   |   |
| By:                               | /s/James W. Everson                             |   | March 25, 2011 |
|                              | James W. Everson, Chairman, President & CEO |   |   |

| By:    | /s/James W. Everson                                                   |   | March 25, 2011 |
|--------|-----------------------------------------------------------------------|--------|----------------|
|   | James W. Everson, Chairman, President & CEO                       |   |           |
|   |                                                                  |   |           |
| By:    | /s/Scott A. Everson                                                   |   | March 25, 2011 |
|   | Scott A. Everson, Senior Vice President & Chief Operating Officer |   |           |
|   |                                                                  |   |           |
| By:    | /s/Randall M. Greenwood                                               |   | March 25, 2011 |
|   | Randall M. Greenwood, Senior Vice President & CFO                 |   |           |
|   |                                                                  |   |           |
| By:    | /s/Terry A. McGhee                                                    |   | March 25, 2011 |
|   | Terry A. McGhee, Director                                             |   |           |
|   |                                                                  |   |           |
| By:    | /s/John M. Hoopingarner                                               |   | March 25, 2011 |
|   | John M. Hoopingarner, Director                                        |   |           |
|   |                                                                  |   |           |
| By:    | /s/Richard L. Riesbeck                                                |   | March 25, 2011 |
|   | Richard L. Riesbeck, Director                                         |   |           |
|   |                                                                  |   |           |
| By:    | /s/Samual J. Jones                                                    |   | March 25, 2011 |
|   | Samual J. Jones , Director                                            |   |           |
|   |                                                                  |   |           |
| By:    | /s/Matthew C. Thomas                                                  |   | March 25, 2011 |
|   | Matthew C. Thomas, Director                                           |   |           |

----

| Exhibit Number |   | Exhibit Description |
|---------------------|--------|--------------------------|
|                |   |                     |   |
|                | 3.1    |                     | Amended Articles of Incorporation (1) |
|                |   |                     |   |
|                | 3.2    |                     | Amended Code of Regulations (2) |
|                |   |                     |   |
|                | 4.0    |                     | Instruments Defining the Rights of Security Holders (See Exhibits 3.1 and 3.2) |
|                |   |                     |   |
|                | 10.1   |                     | James W. Everson Change in Control Agreement (3) |
|                |   |                     |   |
|                | 10.2   |                     | Randall M. Greenwood Change in Control agreement (3) |
|                |   |                     |   |
|                | 10.3   |                     | Scott A. Everson Change in Control Agreement (3) |
|                |   |                     |   |
|                | 10.5   |                     | Not used |
|                |   |                     |   |
|                | 10.6   |                     | Michael A. Lloyd Change in Control Agreement (3) |
|                |   |                     |   |
|                | 10.7   |                     | United Bancorp, Inc. Stock Option Plan (4) |
|                |   |                     |   |
|                | 10.8   |                     | United Bancorp, Inc. and Subsidiaries Director Supplemental Life Insurance Plan, covering Messrs. Hoopingarner, McGehee, Riesbeck and Thomas. (5) |
|                |   |                     |   |
|                | 10.9   |                     | United Bancorp, Inc. and Subsidiaries Senior Executive Supplemental Life Insurance Plan, covering James W. Everson, Scott A. Everson, Randall M. Greenwood, Michael A. Lloyd and James A. Lodes. (5) |
|                |   |                     |   |
|                | 10.10  |                     | United Bancorp, Inc. and United Bancorp, Inc. Affiliate Banks Directors Deferred Compensation Plan. (5) |
|                |   |                     |   |
|                | 10.11  |                     | Amended and Restated Trust Agreement among United Bancorp, Inc. as Depository, Wilmington Trust Company, as Property Trustee, Wilmington Trust Company, as Delaware Trustee, and Administrative Trustees, dated as of November 17, 2005. (6) |
|                |   |                     |   |
|                | 10.12  |                     | Junior Subordinated Indenture between United Bancorp, Inc. and Wilmington Trust Company, as Trustee, dated as of November 17, 2005. (6) |
|                |   |                     |   |
|                | 10.13  |                     | Guaranty Agreement between United Bancorp, Inc., as Guarantor, and Wilmington Trust Company, as Guarantee Trustee, dated as of November 17, 2005. (6) |
|                |   |                     |   |
|                | 10.14  |                     | United Bancorp, Inc. 2008 Stock Incentive Plan (7) |
|                |   |                     |   |
|                | 13     |                     | 2010 Annual Report |
|                |   |                     |   |
|                | 21     |                     | Subsidiaries of the Registrant (5) |
|                |   |                     |   |
|                | 23.1   |                     | Consent of BKD, LLP |
|                |   |                     |   |
|                | 31.1   |                     | Rule 13a-14(a) Certification – CEO |
|                |   |                     |   |
|                | 31.2   |                     | Rule 13a-14(a) Certification – CFO |
|                |   |                     |   |
|                | 32.1   |                     | Section 1350 Certification – CEO |
|                |   |                     |   |
|                | 32.2   |                     | Section 1350 Certification – CFO |

| (1) | Incorporated by reference to Appendix B to the registrant’s Definitive Proxy Statement filed with the Securities and Exchange Commission on March 14, 2001. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

----

| (2) | Incorporated by reference to Appendix C to the registrant’s Definitive Proxy Statement filed with the Securities and Exchange Commission on March 14, 2001. |
|-----|-------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (3) | Incorporated by reference to the registrant’s 10-K filed with the Securities and Exchange Commission on March 27, 2003. |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

| (4) | Incorporated by reference to Exhibit A to the registrant’s Definitive Proxy Statement filed with the Securities and Exchange Commission on March 11, 1996. |
|-----|------------------------------------------------------------------------------------------------------------------------------------------------------------------|

| (5) | Incorporated by reference to the registrant’s 10-K filed with the Securities and Exchange Commission on March 29, 2004. |
|-----|-------------------------------------------------------------------------------------------------------------------------------|

| (6) | Incorporated by reference to the registrant’s 10-K filed with the Securities and Exchanges Commission on March 30, 2006. |
|-----|--------------------------------------------------------------------------------------------------------------------------------|

| (7) | Incorporated by reference to the registrant’s 8-K filed with the Securities and Exchange Commission on April 22, 2008. |
|-----|------------------------------------------------------------------------------------------------------------------------------|

----