<PAGE>

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                              WASHINGTON, DC 20549

                                    FORM 10-K

  [X] ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934

                   FOR THE FISCAL YEAR ENDED DECEMBER 31, 2001

                                       OR

[ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE
                                   ACT OF 1934

    FOR THE TRANSITION PERIOD FROM           N/A         TO         N/A
                                   ---------------------    --------------------

                         COMMISSION FILE NUMBER 0-16540

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

<TABLE>
<S>                                                                  <C>
                              OHIO                                                 34-1405357
---------------------------------------------------------------      -------------------------------------
(State or other jurisdiction of incorporation or organization)        (IRS) Employer Identification No.)
</TABLE>

   201 SOUTH FOURTH STREET, MARTINS FERRY, OHIO                      43935
---------------------------------------------------             ----------------
     (Address of principal executive offices)                      (ZIP Code)

REGISTRANT'S TELEPHONE NUMBER, INCLUDING AREA CODE:  (740) 633-0445

           SECURITIES REGISTERED PURSUANT TO SECTION 12(b) OF THE ACT:

<TABLE>
<S>                                               <C>
  COMMON STOCK, PAR VALUE $1.00 A SHARE                 NASDAQ REGULAR MARKET (SMALLCAP)
  -------------------------------------           -------------------------------------------
           (Title of class)                       (Name of each exchange on which registered)
</TABLE>

           SECURITIES REGISTERED PURSUANT TO SECTION 12(g) OF THE ACT:

                     COMMON STOCK, PAR VALUE $1.00 A SHARE
                -----------------------------------------------
                                (Title of class)

INDICATE BY CHECK MARK WHETHER THE REGISTRANT (1) HAS FILED ALL REPORTS REQUIRED
TO BE FILED BY SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 DURING
THE PRECEDING 12 MONTHS (OR FOR SUCH SHORTER PERIOD THAT THE REGISTRANT WAS
REQUIRED TO FILE SUCH REPORTS), AND (2) HAS BEEN SUBJECT TO SUCH FILING
REQUIREMENTS FOR THE PAST 90 DAYS. YES   X   NO
                                       -----    -----

INDICATE BY CHECK MARK IF DISCLOSURE OF DELINQUENT FILERS PURSUANT TO ITEM 405
OF REGULATION S-K IS NOT CONTAINED HEREIN, AND WILL NOT BE CONTAINED TO THE BEST
OF REGISTRANT'S KNOWLEDGE, IN DEFINITIVE PROXY OR INFORMATION STATEMENTS
INCORPORATED BY REFERENCE IN PART III OF THIS FORM 10-K OR ANY AMENDMENT TO THIS
FORM 10-K. [X]

THE AGGREGATE MARKET VALUE OF THE VOTING STOCK HELD BY NON-AFFILIATES OF THE
REGISTRANT AS OF MARCH 5, 2002.

                   COMMON STOCK, $1.00 PAR VALUE: $36,885,979
                   ------------------------------------------

THE NUMBER OF SHARES OUTSTANDING OF THE REGISTRANT'S CLASSES OF COMMON STOCK AS
OF MARCH 5, 2002.

                 COMMON STOCK, $1.00 PAR VALUE: 3,148,836 SHARES
                 -----------------------------------------------

DOCUMENTS INCORPORATED BY REFERENCE
PORTIONS OF THE ANNUAL SHAREHOLDERS REPORT FOR THE YEAR ENDED DECEMBER 31, 2001
ARE INCORPORATED BY REFERENCE INTO PARTS I AND II, (INDEX ON PAGE 2)

PORTIONS OF THE PROXY STATEMENT FOR THE ANNUAL SHAREHOLDERS MEETING TO BE HELD
APRIL 17, 2002 ARE INCORPORATED BY REFERENCE INTO PART III (INDEX ON PAGE 2).


<PAGE>

                         UNITED BANCORP, INC. FORM 10-K


            INDEX OF ITEMS INCORPORATED BY REFERENCE WITHIN FORM 10-K
<TABLE>
<CAPTION>
                       FORM 10-K
PAGE #            ITEM DESCRIPTION                                              REFERENCE DESCRIPTION
------------------------------------------------------------------------------------------------------------------------------------
<S>        <C>                                   <C>
     3     Part I, Item 1, (a)                   Incorporated by reference to Pages 16-24 of the Annual Report To Shareholders.

     3     Part I, Item 1, (b)                   Incorporated by reference to Page 48, Note 1 of the Annual Report To Shareholders.

     4     Part I, Item 1, I                     Incorporated by reference to Pages 39-40 of the Annual Report To Shareholders.

     5     Part I, Item 1, II, B                 Incorporated by reference to Page 52, Note 2 of the Annual Report To Shareholders.

     7     Part I, Item 1, III, C, 4             Incorporated by reference to Page 59, Note 11 of the Annual Report To Shareholders.

     7     Part I, Item 1, IV                    Incorporated by reference to Page 33-34 and Pages 48-49, Note 1 the Annual Report
                                                 To Shareholders.

     10    Part I, Item 1, V, A                  Incorporated by reference to Page 39 of the Annual Report To Shareholders.

     10    Part I, Item 1, VI, A                 Incorporated by reference to Page 39 of the Annual Report To Shareholders.

     11    Part I, Item 2                        Incorporated by reference to Pages 16-24 of the Annual Report To Shareholders.

     11    Part I, Item 3                        Incorporated by reference to Page 50, Note 1 of the Annual Report To Shareholders.

     11    Part II, Item 5                       Incorporated by reference to Page 4 of the Annual Report To Shareholders.

     12    Part II, Item 6                       Incorporated by reference to inside back cover of the Annual Report To
                                                 Shareholders.

     12    Part II, Item 7                       Incorporated by reference to Pages 28-42, of the Annual Report To Shareholders.

     12    Part II, Item 7A                      Incorporated by reference to Pages 36-37 of the Annual Report To Shareholders.

     12    Part II, Item 8                       Incorporated by reference to Pages 43-64 of the Annual Report To Shareholders.

     13    Part III, Item 10                     Incorporated by reference to Pages 3-9 of the Proxy Statement.

     13    Part III, Item 11                     Incorporated by reference to Pages 10-12 of the Proxy Statement.

     13    Part III, Item 12                     Incorporated by reference to Pages 5-6 of the Proxy Statement.

     13    Part III, Item 13                     Not applicable.

     14    Part IV, Item 14, (a), 1              Incorporated by reference to Pages 43-64 of the Annual Report To Shareholders.

     14    Part IV, Item 14, (a), 2              Incorporated by reference to Page 64 of the Annual Report To Shareholders.

     14    Part IV, Item 14, (a), 3, Exhibit 10  Incorporated by reference to Pages 9-10 of the Proxy Statement.

     14    Part IV, Item 14, (a), 3, Exhibit 11  Incorporated by reference to Page 50 and Page 63 of the Annual Report To
                                                 Shareholders.
</TABLE>

                                       2
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K

PART I

ITEM 1   DESCRIPTION OF BUSINESS

            (a)   GENERAL DEVELOPMENT OF BUSINESS

                  United Bancorp, Inc. (Company) is a financial holding company
                  headquartered in Martins Ferry, Ohio. The Company has two
                  wholly-owned subsidiary banks, The Citizens Savings Bank,
                  Martins Ferry, Ohio (CITIZENS) and The Community Bank,
                  Lancaster, Ohio (COMMUNITY), collectively "Banks". For
                  additional information about the Company's location and
                  description of business, refer to Pages 16-20 and 21-24,
                  Corporate Profile, in the Annual Report To Shareholders for
                  the year ended December 31, 2001.

            (b)   FINANCIAL INFORMATION ABOUT BUSINESS SEGMENTS

                  Refer to Page 48, Note 1 of the Annual Report To Shareholders.

            (c)   NARRATIVE DESCRIPTION OF BUSINESS

                  The Company is a financial holding company as defined under
                  the Bank Holding Company Act of 1956, as amended (the "BHC
                  Act"). The BHC Act regulates acquisitions by the Company of
                  voting shares or assets of any bank or other company. The
                  Company is subject to the reporting requirements of, and
                  examination and regulation by, the Board of Governors of the
                  Federal Reserve System, as well as reporting requirements
                  under the Securities and Exchange Commission Act of 1934.

                  The Banks' are located in northeastern, eastern, and
                  southeastern Ohio and are engaged in the business of
                  commercial and retail banking in Belmont, Harrison,
                  Tuscarawas, Carroll, Athens, Hocking, and Fairfield counties
                  and the surrounding localities. The Banks provide a broad
                  range of banking and financial services, which include
                  accepting demand, savings and time deposits and granting
                  commercial, real estate and consumer loans. CITIZENS conducts
                  its business through its main office in Martins Ferry, Ohio
                  and nine branches located in Bridgeport, Colerain, Dellroy,
                  Dover, Jewett, New Philadelphia, St. Clairsville,
                  Sherrodsville, and Strasburg, Ohio. In 1999, CITIZENS opened a
                  full service brokerage division known as Brokerage United with
                  securities provided through Raymond James Financial Services,
                  Inc. member NASD/SIPC. COMMUNITY conducts its business through
                  its seven offices in Amesville, Glouster, Lancaster, and
                  Nelsonsville, Ohio.

                  The markets in which the Banks' operate continue to be highly
                  competitive. CITIZENS competes for loans and deposits with
                  other retail commercial banks, savings and loan associations,
                  finance companies, credit unions and other types of financial
                  institutions within the Mid-Ohio valley geographic area along
                  the eastern border of Ohio, extending into the northern
                  panhandle of West Virginia and the Tuscarawas and Carroll
                  County geographic areas of northeastern Ohio. COMMUNITY also
                  encounters similar competition for loans and deposits
                  throughout the Athens, Hocking, and Fairfield County
                  geographic areas of central and southeastern Ohio.

                  On November 12, 1999, President Clinton signed the
                  Graham-Leach-Bliley Act of 1999 ("GLB Act"), which is intended
                  to modernize the financial services industry. The GLB Act
                  sweeps away large parts of a regulatory framework that had its
                  origins in the Depression Era of the 1930s. Effective March
                  11, 2000, new opportunities became available for banks, other
                  depository institutions, insurance companies and securities
                  firms to enter into combinations that permit a single
                  financial service organization to offer customers a more
                  complete array of financial products and services. The GLB Act
                  provides a new regulatory framework for regulation through the
                  financial holding company, which will have as its umbrella
                  regulator the Federal Reserve Board. The functional regulation
                  of the financial holding company's separately regulated
                  subsidiaries will be conducted by their primary functional
                  regulator. The GLB Act makes satisfactory or above Community
                  Reinvestment Act compliance for insured depository
                  institutions and their financial holding companies necessary
                  in order for them to engage in new financial activities. The
                  GLB Act provides a federal right to privacy of non-public
                  personal information of individual customers. The Company and
                  Banks are also subject to certain state laws that deal with
                  the use and distribution of non-public personal information.


                                       3
<PAGE>

                         UNITED BANCORP, INC. FORM 10-K

                  ITEM 1 DESCRIPTION OF BUSINESS (CONTINUED)

            (c)   NARRATIVE DESCRIPTION OF BUSINESS (CONTINUED)

                  The Company's two subsidiary banks are subject to regulation
                  by the Ohio Division of Financial Institutions and the Federal
                  Deposit Insurance Corporation ("FDIC"). The regulations and
                  restrictions affecting the Banks pertain to, among other
                  things, allowable loans, guidelines for allowance for loan
                  losses, accountability for fair and accurate disclosures to
                  customers and regulatory agencies, permissible investments and
                  limitations of risk and regulation of capital requirements for
                  safe and sound operation of the financial institution.

                  The Banks have no single customer or related group of
                  customers whose banking activities, whether through deposits
                  or lending, would have a material impact on the continued
                  earnings capabilities if those activities were removed.

                  The Company itself, as a shell holding company, has no
                  compensated employees. CITIZENS has 78 full time employees,
                  with 25 of these serving in a management capacity and 14 part
                  time employees. COMMUNITY has 31 full time employees, with 12
                  serving in a management capacity and 7 part time employees.
                  The Company considers employee relations to be good at all
                  subsidiary locations.

            (d)   FINANCIAL INFORMATION ABOUT FOREIGN AND DOMESTIC OPERATIONS

                  Not applicable.

         I        DISTRIBUTION OF ASSETS, LIABILITIES AND STOCKHOLDERS EQUITY;
                  INTEREST RATES AND INTEREST DIFFERENTIAL

                  A        Refer to Page 39 of the Annual Report To Shareholders

                  B        Refer to Page 39 of the Annual Report To Shareholders

                  C        Refer to Page 40 of the Annual Report To Shareholders



                                       4
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K


ITEM 1   DESCRIPTION OF BUSINESS (CONTINUED)

         II   INVESTMENT PORTFOLIO

                  A   The following table sets forth the carrying amount of
                      securities at December 31, 2001, 2000 and 1999:

<TABLE>
<CAPTION>
                                             DECEMBER 31,
                                   -------------------------------
          (In thousands)             2001        2000       1999
                                   ---------   ---------  --------
<S>                                <C>         <C>        <C>
AVAILABLE FOR SALE
  US Agency obligations             $ 99,490   $ 75,685   $ 65,952
  Mortgage-backed obligations            153      1,930      2,017
  State and municipal obligations     10,748     13,434     14,187
  Other securities                     3,654      3,390      3,206
                                    --------   --------   --------
                                    $114,045   $ 94,439   $ 85,362
                                    ========   ========   ========


HELD TO MATURITY
  US Agency obligations             $     --   $  2,496   $  2,494
  State and municipal obligations     10,379      8,306      7,300
                                    --------   --------   --------
                                    $ 10,379   $ 10,802   $  9,794
                                    ========   ========   ========
</TABLE>

                  B   Refer to Page 52, Note 2 of the Annual Report To
                      Shareholders.

                  C   Excluding holdings of U.S. Agency, there were no
                      investments in securities of any one issuer exceeding 10%
                      of the Company's consolidated shareholders' equity at
                      December 31, 2001.

         III LOAN PORTFOLIO

                  A   TYPES OF LOANS

                      The amounts of gross loans outstanding at December 31,
                      2001, 2000, 1999, 1998 and 1997 are shown in the following
                      table according to types of loans:
<TABLE>
<CAPTION>
                                                    DECEMBER 31,
                               ----------------------------------------------------
                                 2001       2000       1999       1998       1997
                               --------   --------   --------   --------   --------
      (In thousands)
<S>                            <C>        <C>        <C>        <C>        <C>
Commercial loans               $ 21,502   $ 20,415   $ 15,463   $ 12,912   $ 16,636
Commercial real estate loans     61,963     64,812     60,305     54,195     49,189
Real estate loans                54,153     55,931     51,357     49,438     49,857
Installment loans                45,722     55,339     53,391     47,676     55,795
                               --------   --------   --------   --------   --------
  Total loans                  $183,340   $196,497   $180,516   $164,221   $171,477
                               ========   ========   ========   ========   ========
</TABLE>

                      Construction loans were not significant for the periods
                      discussed.




                                       5
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K


ITEM 1   DESCRIPTION OF BUSINESS (CONTINUED)

         III LOAN PORTFOLIO (CONTINUED)

                  B   MATURITIES AND SENSITIVITIES OF LOANS TO CHANGES IN
                      INTEREST RATES
                      The following is a schedule of commercial and commercial
                      real estate loans at December 31, 2001 maturing within the
                      various time frames indicated:
<TABLE>
<CAPTION>
                                     ONE YEAR       ONE THROUGH         AFTER
          (In thousands)             OR LESS        FIVE YEARS        FIVE YEARS         TOTAL
                                   -------------  ----------------  ---------------   ------------
<S>                                <C>            <C>               <C>               <C>
  Commercial loans                     $ 18,298           $ 1,648          $ 1,556       $ 21,502
  Commercial real estate loans           23,568            29,109            9,286         61,963
                                   -------------  ----------------  ---------------   ------------
    Total                              $ 41,866          $ 30,757         $ 10,842       $ 83,465
                                   =============  ================  ===============   ============
</TABLE>


                      The following is a schedule of fixed rate and variable
                      rate commercial and commercial real estate loans at
                      December 31, 2001 due to mature after one year:
<TABLE>
<CAPTION>
          (In thousands)            FIXED RATE     VARIABLE RATE   TOTAL > ONE YEAR
                                   -------------  ---------------  ----------------
<S>                                <C>            <C>              <C>
  Commercial loans                  $     3,204    $            -   $        3,204
  Commercial real estate loans           11,479            26,916           38,395
                                   -------------  ----------------  ---------------
    Total                           $    14,683    $       26,916    $      41,599
                                   =============  ================  ===============
</TABLE>


                      Variable rate loans are those loans with floating or
                      adjustable interest rates.


                  C   RISK ELEMENTS

                      1. NONACCRUAL, PAST DUE, RESTRUCTURED AND IMPAIRED LOANS

                      The following schedule summarizes nonaccrual loans,
                      accruing loans which are contractually 90 days or more
                      past due, troubled debt restructurings and impaired loans
                      at December 31, 2001, 2000, 1999, 1998 and 1997:
<TABLE>
<CAPTION>
                                                             DECEMBER 31,
                                             -------------------------------------------
          (In thousands)                      2001     2000     1999     1998     1997
                                             -------  -------  -------  -------  -------
<S>                                          <C>      <C>      <C>      <C>      <C>
Nonaccrual basis                             $ 661    $ 793    $ 987    $ 399    $ 480
Accruing loans 90 days or greater past due     157      124       36      150      319
Troubled debt restructuring                    N/A      N/A      N/A      N/A      N/A

Impaired loans                                  (1)      (1)      (1)      (1)      (1)
</TABLE>




                      (1) Loans considered impaired under the provisions of SFAS
                      No. 114 and interest recognized on a cash received basis
                      were not considered material during any of the periods
                      presented.

                      The additional amount of interest income that would have
                      been recorded on nonaccrual loans, had they been current,
                      totaled $81,272 for the year-ended December 31, 2001.





                                       6
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K



ITEM 1   DESCRIPTION OF BUSINESS (CONTINUED)

         III LOAN PORTFOLIO (CONTINUED)

                  1.  NONACCRUAL, PAST DUE, RESTRUCTURED AND IMPAIRED LOANS
                      (CONTINUED)

                      Interest income is not reported when full loan repayment
                      is doubtful, typically when the loan is impaired or
                      payments are past due over 90 days. Payments received on
                      such loans are reported as principal reductions.

                      A loan is impaired when full payment under the loan terms
                      is not expected. Impairment is evaluated in total for
                      smaller-balance loans of similar nature such as
                      residential mortgage, consumer, and credit card loans, and
                      on an individual loan basis for other loans. If a loan is
                      impaired, a portion of the allowance is allocated so that
                      the loan is reported, net, at the present value of
                      estimated future cash flows using the loan's existing rate
                      or at the fair value of collateral if repayment is
                      expected solely from the collateral.

                  2.  POTENTIAL PROBLEM LOANS

                      The Company had no potential problem loans as of December
                      31, 2001 which have not been disclosed in Table C 1., but
                      where known information about possible credit problems of
                      borrowers causes management to have serious doubts as to
                      the ability of such borrowers to comply with the present
                      loan repayment terms and which may result in disclosure of
                      such loans into one of the problem loan categories.

                  3.  FOREIGN OUTSTANDING

                      Not applicable.

                  4.  LOAN CONCENTRATIONS

                      Refer to Page 59, Note 11 of the Annual Report To
                      Shareholders.

                  D.  OTHER INTEREST-BEARING ASSETS

                      Not applicable.


         IV SUMMARY OF LOAN LOSS EXPERIENCE

                  For additional explanation of factors which influence
                  management's judgment in determining amounts charged to
                  expense, refer to Pages 33-34, "Management Discussion and
                  Analysis" and Pages 48 - 49, Note 1 of the Annual Report To
                  Shareholders.




                                       7
<PAGE>

                         UNITED BANCORP, INC. FORM 10-K


ITEM 1   DESCRIPTION OF BUSINESS (CONTINUED)

         IV SUMMARY OF LOAN LOSS EXPERIENCE (CONTINUED)

                  A   ANALYSIS OF THE ALLOWANCE FOR LOAN LOSSES

                      The following schedule presents an analysis of the
                      allowance for loan losses, average loan data and related
                      ratios for the years ended December 31, 2001, 2000, 1999,
                      1998, and 1997:


<TABLE>
<CAPTION>
          (In thousands)                2001           2000          1999           1998           1997
                                    -------------  ------------- -------------- -------------- -------------
<S>                                 <C>            <C>           <C>            <C>            <C>
LOANS
Loans outstanding                     $  183,340     $  196,497    $   180,516    $   164,221    $  171,477
Average loans outstanding             $  188,114     $  190,386    $   168,868    $   168,626    $  169,066



ALLOWANCE FOR LOAN LOSSES
Balance at beginning of year          $    2,790     $    3,110    $     3,033    $     3,039    $    2,756
Loan charge-offs:
     Commercial                              268            125             85            139           125
     Commercial real estate                                  79             30
     Real estate                              67            275             21             51            20
     Installment                             728            716            807            861           661
                                    -------------  ------------- -------------- -------------- -------------
Total loan charge-offs                     1,063          1,195            943          1,051           806
                                    -------------  ------------- -------------- -------------- -------------


Loan recoveries
     Commercial                               27              2             50             87            32
     Commercial real estate                                  28             12                            -
     Real estate                              10              4              3              9             3
     Installment                             335            254            228            151           122
                                    -------------  ------------- -------------- -------------- -------------
Total loan recoveries                        372            288            293            247           157
                                    -------------  ------------- -------------- -------------- -------------

Net loan charge-offs                         691            907            650            804           649

Provision for loan losses                    780            587            727            798           932
                                    -------------  ------------- -------------- -------------- -------------

Balance at end of year                $    2,879     $    2,790    $     3,110    $     3,033    $    3,039
                                    =============  ============= ============== ============== =============

Ratio of net charge-offs to average
  loans outstanding for the year           0.37%          0.49%          0.38%          0.48%         0.38%
                                    =============  ============= ============== ============== =============
</TABLE>



                                       8
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K



ITEM 1   DESCRIPTION OF BUSINESS (CONTINUED)

         IV SUMMARY OF LOAN LOSS EXPERIENCE (CONTINUED)

                  B   ALLOCATION OF THE ALLOWANCE FOR LOAN LOSSES

                      The following table allocates the allowance for possible
                      loan losses at December 31, 2001, 2000, 1999, 1998, and
                      1997. The allowance has been allocated according to the
                      amount deemed to be reasonably necessary to provide for
                      the probability of losses being incurred within the
                      following categories of loans at the dates indicated:
<TABLE>
<CAPTION>
                                      2001
                            ---------------------------
                                          % OF LOANS
      (In thousands)        ALLOWANCE      TO TOTAL
Loan type                     AMOUNT         LOANS
                            -----------  --------------
<S>                         <C>          <C>
    Commercial                $    325          11.73%
    Commercial real estate         872          33.80%
    Real estate                    381          29.54%
    Installment                    613          24.93%
    Unallocated                    688             N/A
                            -----------  --------------
     Total                    $  2,879         100.00%
                            ===========  ==============
<CAPTION>
                                      2000
                           --------------------------
                                         % OF LOANS
      (In thousands)        ALLOWANCE     TO TOTAL
Loan type                    AMOUNT        LOANS
                           ------------ -------------
<S>                        <C>          <C>
    Commercial                $    263        10.39%
    Commercial real estate         835        32.98%
    Real estate                    461        28.46%
    Installment                    781        28.17%
    Unallocated                    450           N/A
                           ------------ -------------
     Total                    $  2,790       100.00%
                           ============ =============
<CAPTION>
                                      1999
                            ---------------------------
                                          % OF LOANS
      (In thousands)        ALLOWANCE      TO TOTAL
Loan type                     AMOUNT         LOANS
                            -----------  --------------
<S>                         <C>          <C>
    Commercial                $    195           8.57%
    Commercial real estate         439          33.40%
    Real estate                    343          28.45%
    Installment                    620          29.58%
    Unallocated                  1,513             N/A
                            -----------  --------------
     Total                    $  3,110         100.00%
                            ===========  ==============
<CAPTION>
                                      1998
                           --------------------------
                                         % OF LOANS
      (In thousands)        ALLOWANCE     TO TOTAL
Loan type                    AMOUNT        LOANS
                           ------------ -------------
<S>                              <C>           <C>
    Commercial                $    215         7.87%
    Commercial real estate         432        33.00%
    Real estate                    567        30.10%
    Installment                    818        29.03%
    Unallocated                  1,001           N/A
                           ------------ -------------
     Total                    $  3,033       100.00%
                           ============ =============
<CAPTION>
                                      1997
                            ---------------------------
                                          % OF LOANS
      (In thousands)        ALLOWANCE      TO TOTAL
Loan type                     AMOUNT         LOANS
                            -----------  --------------
<S>                         <C>          <C>
    Commercial                $    403           9.70%
    Commercial real estate         322          28.69%
    Real estate                    606          29.07%
    Installment                  1,200          32.54%
    Unallocated                    508             N/A
                            -----------  --------------
     Total                    $  3,039         100.00%
                            ===========  ==============
</TABLE>


                                       9
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K



ITEM 1   DESCRIPTION OF BUSINESS (CONTINUED)

                V     DEPOSITS

                  A   SCHEDULE OF AVERAGE DEPOSIT AMOUNTS AND RATES

                        (1)             Refer to Page 39 of the Annual Report To
                                        Shareholders.

                        (2)             Refer to Page 39 of the Annual Report To
                                        Shareholders.

                        (3)             Refer to Page 39 of the Annual Report To
                                        Shareholders.

                        (4)             Refer to Page 39 of the Annual Report To
                                        Shareholders.

                        (5) - (8)       Not applicable.

                  B   OTHER CATEGORIES

                      Not applicable.

                  C   FOREIGN DEPOSITS

                      Not applicable.

                  D   MATURITY ANALYSIS OF TIME DEPOSITS GREATER THAN $100,000.

                      The following schedule details the maturities of time
                      certificates of deposit in amounts of $100,000 or more for
                      the year ended December 31, 2001:

<TABLE>
<CAPTION>
         (In thousands)
<S>                               <C>
Three months or less                $        10,894
Over three through six months                 7,604
Over six through twelve months                6,918
Over twelve months                           13,022
                                  ------------------
  Total                             $        38,438
                                  ==================
</TABLE>


                  E   TIME DEPOSITS GREATER THAN $100,000 ISSUED BY FOREIGN
                      OFFICES.

                      Not applicable.

                VI    RETURN ON EQUITY AND ASSETS

                      The ratio of net income to daily average total assets and
                      average shareholders' equity, and certain other ratios,
                      were as follows:

<TABLE>
<CAPTION>
                               DECEMBER 31,
                             2001        2000        1999
                           ----------  ---------- -----------
<S>                        <C>         <C>        <C>
Dividend Payout Ratio         56.82%      58.82%      46.73%
Equity to Assets               8.93%       8.85%       8.85%
</TABLE>



                      (1) For other ratios refer to the inside back cover of the
                      Annual Report To Shareholders.



                                       10
<PAGE>

                         UNITED BANCORP, INC. FORM 10-K



ITEM 1   DESCRIPTION OF BUSINESS (CONTINUED)

         VII    SHORT-TERM BORROWINGS

                  Information concerning securities sold under agreements to
                  repurchase is summarized as follows:

<TABLE>
<CAPTION>
                (In thousands)                       2001            2000           1999
                                                --------------  -------------- --------------
<S>                                             <C>             <C>            <C>
Balance at December 31,                              $  7,811        $  4,861        $ 5,788

Weighted average interest rate at December 31           1.39%           5.52%          3.80%

Average daily balance during the year                $ 10,695        $  5,177        $ 7,306

Average interest rate during the year                   3.59%           5.45%          4.30%

Maximum month-end balance during the year            $ 20,653        $  6,117        $ 8,506
</TABLE>


                  Securities sold under agreements to repurchase are financing
                  arrangements whereby the Company sells securities and agrees
                  to repurchase the identical securities at the maturities of
                  the agreements at specified prices

                  Information concerning the cash management line of credit from
                  the Federal Home Loan Bank of Cincinnati, Ohio is summarized
                  as follows:

<TABLE>
<CAPTION>
                (In thousands)                      2001            2000           1999
                                                --------------  -------------- --------------
<S>                                             <C>             <C>            <C>
Balance at December 31,                              $ 10,100        $ 14,824       $ 19,145

Weighted average interest rate at December 31           2.05%           6.75%          4.75%

Average daily balance during the year                $ 14,783        $ 13,545       $  9,363

Average interest rate during the year                   4.01%           6.26%          5.55%

Maximum month-end balance during the year            $ 24,995        $ 20,217       $ 22,028
</TABLE>


                  No other individual component of the borrowed funds total
                  comprised more than 30% of shareholders' equity and
                  accordingly are not disclosed in detail.

ITEM 2   PROPERTIES

         Refer to Pages 16-20 and 21-24, "Corporate Profile" in the Annual
         Report To Shareholders. Management believes the properties described on
         Pages 16-20 and 21-24 of the Annual Report to be in good operating
         condition for the purpose for which it is used. The properties are
         unencumbered by any mortgage or security interest and is, in
         management's opinion, adequately insured.

ITEM 3   LEGAL PROCEEDINGS

         Refer to Page 50, Note 1 of the Annual Report To Shareholders.

ITEM 4   SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

         No motions were submitted to shareholders for a vote during the fourth
         quarter of 2001.



                                       11
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K



PART II

ITEM 5   MARKET FOR REGISTRANT'S COMMON EQUITY AND RELATED SHAREHOLDER MATTERS

         Refer to Page 4, "Shareholder Information" of the Annual Report To
         Shareholders.




ITEM 6   SELECTED FINANCIAL DATA

         Refer to inside back cover, "Five Year Performance Summary" and pages
         26-27 of the Annual Report To Shareholders.



ITEM 7   MANAGEMENT'S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS
         OF OPERATIONS

         Refer to Pages 28 - 42, "Management's Discussion and Analysis" of the
         Annual Report To Shareholders.

ITEM 7A  QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

         Refer to Pages 36 - 37, "Asset/Liability Management and Sensitivity to
         Market Risks" of the Annual Report To Shareholders.

ITEM 8   FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

         Refer to Pages 43 - 64 of the Annual Report To Shareholders.

ITEM 9   CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS

         There were no changes in or disagreements with accountants.


                                       12
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K



PART III

ITEM 10  DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

         (a)  Refer to Pages 3 - 9 of the Proxy Statement.

         (b)  Executive Officers of the Registrant:

<TABLE>
<S>                                                  <C>      <C>
                  James W. Everson                   63       Chairman, President and Chief Executive Officer

                  Alan M.  Hooker                    50       Executive Vice President - Administration

                  Norman F. Assenza, Jr.             55       Vice President - Operations and Secretary

                  Randall M. Greenwood               37       Vice President - Chief Financial Officer, Treasurer

                  James A. Lodes                     55       Vice President - Lending
</TABLE>

         (1)  Each individual has held the position noted during the past five
              years, except for the following:

              Randall M. Greenwood served as a Business Assurance Manager of
              Coopers and Lybrand LLP of Columbus, Ohio from 1993 to November of
              1997. He served as a Manager for BankOne Corporation in Columbus,
              Ohio from February 1991 to August 1993 and as a Supervisor at
              Coopers and Lybrand LLP in Columbus, Ohio from September 1986
              through February 1991. He has served as Vice President - Chief
              Financial Officer of United Bancorp, Inc. and as Senior Vice
              President - Chief Financial Officer of The Citizens Savings Bank,
              Martins Ferry, Ohio since December 1997.

              Alan M. Hooker served as President of Fairfield National Division
              of the Park National Bank where he also served on their Advisory
              Board. He has held senior level banking positions with financial
              institutions in Washington, D.C., and Baltimore, Maryland. He has
              served as President and Chief Executive Officer of The Community
              Bank, Glouster, Ohio and as Executive Vice President -
              Administration of United Bancorp, Inc. since October 26, 1998.

ITEM 11       EXECUTIVE COMPENSATION

              Refer to Pages 9 - 12 of the Proxy Statement.

ITEM 12       SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT

              Refer to Pages 5-6 of the Proxy Statement.

ITEM 13       CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

              Not Applicable.



                                       13
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K



PART IV

ITEM 14       EXHIBITS, FINANCIAL STATEMENTS, SCHEDULES AND REPORTS ON FORM 8-K

         (a)  DOCUMENTS FILED AS PART OF FORM 10-K

              1.     The following consolidated financial statements appear in
                     the 2001 Annual Report To Shareholders and are incorporated
                     by reference:

<TABLE>
<S>                                                                                          <C>      <C>
                     Report of Independent Auditors                                          Page     43
                     Consolidated Balance Sheets                                             Page     44
                     Consolidated Statements of Income                                       Page     45
                     Consolidated Statements of Shareholders' Equity                         Page     46
                     Consolidated Statements of Cash Flow                                    Page     47
                     Notes to the Consolidated Financial Statements                          Pages    48 - 64
</TABLE>

              2.     The summary of selected quarterly results of operations
                     appears on Page 64 in the 2001 Annual Report To
                     Shareholders and is incorporated by reference.

              3.     Exhibits
<TABLE>
<S>                                     <C>
                     2                  Not Applicable
                     3 (i)(ii)          Articles of Incorporation of United Bancorp, Inc. including amendments and By
                                        Laws, previously filed with the Securities and Exchange Commission on November 16, 1983.
                     4                  Not applicable.
                     9                  Not applicable.
                     10                 Reference to special severance agreement on Page 9 of the Proxy Statement
                     11                 Statement regarding computation of per share earnings (included in Note 1 to the
                                        consolidated financial statements on page 50 and Note 15 on Page 63 of the Annual Report To
                                        Shareholders.)
                     12                 Not applicable.
                     13                 Reference to the Annual Report To Shareholders for the fiscal year ended December 31, 2001.
                     16                 Not applicable.
                     18                 Not applicable.
                     21.1               Reference to The Citizens Savings Bank, Martins Ferry, Ohio, incorporated on December 31,
                                        1902, previously filed with the Securities and Exchange Commission.
                     21.2               Reference to The Community Bank, Lancaster, Ohio, incorporated on August 1, 1949, previously
                                        filed with the Securities and Exchange Commission.
                     22                 Not applicable.
                     23                 Consents of Experts and Council.
                     24                 Not applicable.
                     99                 Not applicable.
</TABLE>

         (b)  The Company filed no reports on SEC Form 8-K during the last
              quarter of the period covered by this report.




                                       14
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K



                  Pursuant to the requirements of Section 13 or 15(d) of the
                  Securities Exchange Act of 1934, the registrant has duly
                  caused this report to be signed on its behalf by the
                  undersigned, thereunto duly authorized.

<TABLE>
<CAPTION>
                  (Registrant) United Bancorp, Inc.
<S>                      <C>                                                            <C>
                  By:                                                                   March 15, 2002
                         -------------------------------------
                         James W. Everson, Chairman, President & CEO



                  By:                                                                   March 15, 2002
                         -------------------------------------
                         Randall M. Greenwood, CFO



                  By:                                                                   March 15, 2002
                         -------------------------------------
                         Michael J. Arciello



                  By:                                                                   March 15, 2002
                         -------------------------------------
                         Terry A. McGhee



                  By:                                                                   March 15, 2002
                         -------------------------------------
                         John M. Hoopingarner



                  By:                                                                   March 15, 2002
                         -------------------------------------
                         Richard L. Riesbeck



                  By:                                                                   March 15, 2002
                         -------------------------------------
                         L.E. Richardson, Jr.



                  By:                                                                   March 15, 2002
                         -------------------------------------
                         Matthew C. Thomas
</TABLE>


                                       15
<PAGE>
                         UNITED BANCORP, INC. FORM 10-K



EXHIBIT INDEX

<TABLE>
<CAPTION>
         Exhibit No.                        Description                                SK Item 601 No.
         -----------                        -----------                                ---------------
<S>                                         <C>                                        <C>
                1                           Annual Report to Shareholders              13

                2                           Consents of Independent Auditors           23
</TABLE>





                                       16