<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, 2005

                                       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                                 (IRS) Employer
 incorporation or organization)                              Identification No.)
</TABLE>

<TABLE>
<S>                                                               <C>
201 SOUTH FOURTH STREET, MARTINS FERRY, OHIO                        43935
  (Address of principal executive offices)                        (ZIP Code)
</TABLE>

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

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

<TABLE>
<S>                                  <C>
      NONE                                               N/A
(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 IF THE REGISTRANT IS A WELL-KNOWN SEASONED ISSUER, AS
DEFINED IN RULE 405 OF THE SECURITIES ACT.                   YES       NO   X  .
                                                                 -----    -----

INDICATED BY CHECK MARK IF THE REGISTRANT IS NOT REQUIRED TO FILE REPORTS
PURSUANT TO SECTION 13 OR SECTION 15(d) OF THE EXCHANGE ACT. YES       NO   X  .
                                                                 -----    -----

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)

INDICATE BY CHECK MARK WHETHER THE REGISTRANT IS A LARGE ACCELERATED FILER, AN
ACCELERATED FILER, OR A NON-ACCELERATED FILER. SEE DEFINITION OF 12B-2 OF THE
EXCHANGE ACT. (CHECK ONE):

LARGE ACCELERATED FILER ( )   ACCELERATED FILER ( )   NON-ACCELERATED FILER (X)

INDICATE BY CHECK MARK WHETHER THE REGISTRANT IS A SHELL COMPANY (AS DEFINED IN
RULE 12B-2 OF THE EXCHANGE ACT).                             YES       NO   X
                                                                 -----    -----

AS OF JUNE 30, 2005, THE AGGREGATE MARKET VALUE OF THE REGISTRANT'S COMMON STOCK
HELD BY NON-AFFILIATES OF THE REGISTRANT WAS $46,549,347 BASED ON THE CLOSING
SALE PRICE AS REPORTED ON THE NATIONAL ASSOCIATION OF SECURITIES DEALERS
AUTOMATED QUOTATION SYSTEM.

INDICATE THE NUMBER OF SHARES OUTSTANDING OF EACH OF THE ISSUER'S CLASSES OF
COMMON STOCK, AS OF THE LATEST PRACTICABLE DATE REGISTRANT HAD 4,182,268 COMMON
SHARES OUTSTANDING AS OF MARCH 6, 2006.

                       DOCUMENTS INCORPORATED BY REFERENCE

PORTIONS OF THE PROXY STATEMENT FOR THE ANNUAL SHAREHOLDERS MEETING TO BE HELD
APRIL 19, 2006 ARE INCORPORATED BY REFERENCE INTO PART III.

PORTIONS OF THE ANNUAL REPORT TO SHAREHOLDERS FOR THE YEAR ENDED DECEMBER 31,
2005 ARE INCORPORATED BY REFERENCE INTO PARTS I AND II.
<PAGE>

PART I

ITEM 1 BUSINESS

          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".

          The Banks are located in northeastern, eastern, southeastern and south
          central 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. COMMUNITY conducts
          its business through its seven offices in Amesville, Glouster,
          Lancaster, and Nelsonsville, Ohio. COMMUNITY offers full service
          brokerage service provided through UVEST(R) member NASD/SIPC.

          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.

          The Company is regulated under the Bank Holding Company Act of 1956,
          as amended (the "BHC Act"), and is subject to the supervision and
          examination of the Board of Governors of the Federal Reserve System
          (the Federal Reserve Board). The BHC Act requires the prior approval
          of the Federal Reserve Board for a bank holding company to acquire or
          hold more than a 5% voting interest in any bank. The BHC Act allows
          interstate bank acquisitions anywhere in the country and interstate
          branching by acquisition and consolidation in those states that did
          not opt out by January 1997.

          Other than as described more thoroughly below with respect to
          activities that are "financial in nature," the Company is generally
          prohibited by the Act from acquiring direct or indirect ownership or
          control of more than five percent of the voting shares of any company
          which is not a bank or bank holding company and from engaging directly
          or indirectly in activities other than those of managing or
          controlling banks or furnishing services to its subsidiaries.

          In 1999, the Gramm-Leach-Bliley Act (the "GLB Act") was enacted into
          law. The GLB Act made sweeping changes with respect to the permissible
          financial services, which various types of financial institutions may
          now provide. The Glass-Steagall Act, which had generally prevented
          banks from affiliation with securities and insurance firms, was
          repealed. Pursuant to the GLB Act, bank holding companies may elect to
          become a "financial holding company," provided that all of the
          depository institution subsidiaries of the bank holding company are
          "well capitalized" and "well managed" under applicable regulatory
          standards. The Company has elected to be a financial holding company.

          Under the GLB Act, a financial holding company may affiliate with
          securities firms and insurance companies and engage in other
          activities that are financial in nature. Activities that are
          "financial in nature" include securities underwriting, dealing and
          market-making, sponsoring mutual funds and investment companies,
          insurance underwriting and agency, merchant banking, and activities
          that the Federal Reserve Board has determined to be closely related to
          banking.

          The Company's banking subsidiaries are also subject to limitations
          with respect to transactions with affiliates.

          A substantial portion of the United Bancorp's cash revenues is derived
          from dividends paid by its subsidiary banks. The subsidiary banks'
          ability to pay dividends is subject to various legal and regulatory
          constraints.

          The Company's banking subsidiaries are subject to primary supervision,
          regulation and examination by the Ohio Division of Financial
          Institutions and the Federal Deposit Insurance Corporation (FDIC).

<PAGE>

          Federal regulators adopted risk-based capital guidelines and leverage
          standards for banks and holding companies. A discussion of the impact
          of risk-based capital guidelines and leverage standards is presented
          in Note M to the audited consolidated financial statements of United
          Bancorp, Inc., captioned "Regulatory Capital."

          The Financial Reform, Recovery and Enforcement Act of 1989 (FIRREA)
          provides that a holding company's controlled insured depository
          institutions are liable for any loss incurred by the Federal Deposit
          Insurance Corporation in connection with the default of, or any
          FDIC-assisted transaction involving an affiliated insured bank or
          savings association.

          Noncompliance with laws and regulations by financial holding companies
          and banks can lead to monetary penalties and/or an increased level of
          supervision or a combination of these two items. Management is not
          aware of any current instances of material noncompliance with laws and
          regulations and does not anticipate any problems maintaining
          compliance on a prospective basis. Recent regulatory inspections and
          examinations of United Bancorp, Inc. and its subsidiary banks have not
          disclosed any material instances of noncompliance.

          The earnings and growth of United Bancorp are affected not only by
          general economic conditions, but also by the fiscal and monetary
          policies of the federal government and its agencies, particularly the
          Federal Reserve Board. The Federal Reserve Board's policies influence
          the amount of bank loans and deposits and the interest rates charged
          and paid thereon, and thus have an effect on earnings. The nature of
          future monetary policies and the effect of such policies on the future
          business and earnings of United Bancorp and its subsidiary banks
          cannot be predicted.

          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.

          EMPLOYEES

          The Company itself, as a holding company, has no compensated
          employees. CITIZENS has 81 full time employees, with 19 of these
          serving in a management capacity and 35 part time employees. COMMUNITY
          has 32 full time employees, with 7 serving in a management capacity
          and 18 part time employees. The Company considers employee relations
          to be good at all subsidiary locations.

          INDUSTRY SEGMENTS

          United Bancorp and its subsidiaries are engaged in one line of
          business, banking. Item 8 of this 10-K provides financial information
          for United Bancorp's business.

          United Bancorp's internet website is www.unitedbancorp.com.

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

          Refer to Management's Discussion and Analysis "Average Balances, Net
          Interest Income and Yields Earned and Rates Paid" set forth at page 25
          of our 2005 Annual Report, which is incorporated by reference.

     II   INVESTMENT PORTFOLIO

     A    Securities available for sale at year-end 2005 decreased $15,870,000,
          or 11.5% from 2004, while securities held to maturity increased
          $5,314,000, or 35.5%. In our planning process, management's prediction
          for 2005 was for a steady to slightly rising interest rate
          environment. In the first half of 2005, interest rates actually
          decreased to a level that caused a high volume of investment
          securities to be called. Management reinvested the funds into the
          Company's loan portfolio and a portion back into investment securities
          over the course of 2005.

<PAGE>

The following table sets forth the carrying amount of securities at December 31,
2005, 2004 and 2003:

<TABLE>
<CAPTION>
                                                   DECEMBER 31,
                                          ------------------------------
                                            2005       2004       2003
                                          --------   --------   --------
(In thousands)
<S>                                       <C>        <C>        <C>
AVAILABLE FOR SALE (AT MARKET)
   US Government and agency obligations   $ 75,483   $ 74,192   $ 81,298
   Mortgage-backed securities               35,440     42,706     35,782
   Collateralized mortgage obligations       2,230      4,783      2,982
   State and municipal obligations           8,769     16,117     20,642
   Equity securities                            24         18         24
                                          --------   --------   --------
                                          $121,946   $137,816   $140,720
                                          ========   ========   ========
HELD TO MATURITY (AT COST)
   State and municipal obligations        $ 20,262   $ 14,948   $ 15,594
                                          ========   ========   ========
</TABLE>

<PAGE>

     B    Contractual maturities of securities at year-end 2005 were as follows:

<TABLE>
<CAPTION>
                                                                   AVERAGE
                                      AMORTIZED    ESTIMATED   TAX EQUIVALENT
AVAILABLE FOR SALE                       COST     FAIR VALUE        YIELD
------------------                    ---------   ----------   ---------------
                                               (Dollars in Thousands)
<S>                                   <C>         <C>          <C>
US GOVERNMENT AGENCY OBLIGATIONS
   1-5 years                           $ 6,662      $ 6,501         4.02%
   5-10 years                           23,335       22,849         4.84%
   Over 10 years                        47,439       46,133         5.39%
                                       -------      -------        -----
      Total                             77,436       75,483         4.68%
                                       -------      -------        -----

MORTGAGE-BACKED SECURITIES
   1-5 years                             6,635        6,410         3.98%
   5-10 years                            3,820        3,691         4.03%
   Over 10 years                        26,144       25,339         4.44%
                                       -------      -------        -----
      Total                             36,599       35,440         4.30%
                                       -------      -------        -----

COLLATERALIZED MORTGAGE OBLIGATIONS
   1-5 years                               249          243         4.10%
   5-10 years                              499          478         3.55%
   Over 10 years                         1,553        1,509         4.12%
                                       -------      -------        -----
      Total                              2,301        2,230         4.00%
                                       -------      -------        -----

STATE AND MUNICIPAL OBLIGATIONS
   Under 1 Year                             45           45         8.71%
   1-5 years                             1,121        1,156        10.30%
   5-10 years                            4,529        4,447         8.04%
   Over 10 years                         3,233        3,121         7.35%
                                       -------      -------        -----
      Total                              8,928        8,769         8.08%
                                       -------      -------        -----

OTHER SECURITIES
   Equity securities                         4           24         0.00%
                                      --------     --------        -----
TOTAL SECURITIES AVAILABLE FOR SALE   $125,268     $121,946         5.80%
                                      ========     ========        =====

HELD TO MATURITY

STATE AND MUNICIPAL OBLIGATIONS
   Under 1 Year                       $  1,304     $  1,319        10.90%
   1-5 years                             2,359        2,467        10.80%
   5-10 years                            5,099        5,193         9.86%
   Over 10 years                        11,500       11,504         9.44%
                                      --------     --------        -----
TOTAL SECURITIES HELD TO MATURITY     $ 20,262     $ 20,483         9.76%
                                      ========     ========        =====
</TABLE>
<PAGE>

     C    Excluding holdings of U.S. Agency obligations, there were no
          investments in securities of any one issuer exceeding 10% of the
          Company's consolidated shareholders' equity at December 31, 2005.

     III  LOAN PORTFOLIO

          A    TYPES OF LOANS

               The amounts of gross loans outstanding at December 31, 2005,
               2004, 2003, 2002 and 2001 are shown in the following table
               according to types of loans:

<TABLE>
<CAPTION>
                                                    DECEMBER 31,
                                ----------------------------------------------------
(In thousands)                    2005       2004       2003       2002       2001
                                --------   --------   --------   --------   --------
<S>                             <C>        <C>        <C>        <C>        <C>
Commercial loans                $ 32,675   $ 35,309   $ 28,049   $ 21,060   $ 21,502
Commercial real estate loans      97,706     83,103     68,902     69,287     61,963
Residential real estate loans     57,746     55,062     52,237     52,535     54,153
Installment loans                 43,884     41,973     49,421     45,006     45,722
                                --------   --------   --------   --------   --------
   Total loans                  $232,011   $215,447   $198,609   $187,888   $183,340
                                ========   ========   ========   ========   ========
</TABLE>

               Construction loans were not significant at any date indicated
               above.

          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, 2005 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                $15,956     $ 9,631       $ 7,088    $ 32,675
Commercial real estate loans     42,653      47,867         7,186      97,706
                                -------     -------       -------    --------
   Total                        $58,609     $57,498       $14,274    $130,381
                                =======     =======       =======    ========
</TABLE>

               The following is a schedule of fixed rate and variable rate
               commercial and commercial real estate loans at December 31, 2005
               due to mature after one year:

<TABLE>
<CAPTION>
                                FIXED    VARIABLE
(In thousands)                   RATE      RATE     TOTAL > ONE YEAR
                               -------   --------   ----------------
<S>                            <C>       <C>        <C>
Commercial loans               $ 6,078    $10,641        $16,719
Commercial real estate loans     6,101     48,952         55,053
                               -------    -------        -------
   Total                       $12,179    $59,593        $71,772
                               =======    =======        =======
</TABLE>

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

<PAGE>

          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, and
               impaired loans at December 31, 2005, 2004 and 2003:

<TABLE>
<CAPTION>
                                                  DECEMBER 31,
                                             ----------------------
(In thousands)                                2005     2004    2003
                                             ------   ------   ----
<S>                                          <C>      <C>      <C>
Nonaccrual basis (1)                         $1,144   $1,106   $101
Accruing loans 90 days or greater past due      417      500    655
Impaired loans (2)                               --       --     --
</TABLE>

(1)  There were no restructured loans at any of the dates indicated above.

(2)  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
               approximately $42,000, $30,000 and $1,000 for the years ended
               December 31, 2005, 2004 and 2003.

               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.

               The allowance for loan losses is a valuation allowance for
               probable incurred credit losses, increased by the provision for
               loan losses and decreased by charge-offs less recoveries.
               Management estimates the allowance balance required based on past
               loan loss experience, the nature and volume of the portfolio,
               information about specific borrower situations and estimated
               collateral values, economic conditions and other factors.
               Allocations of the allowance may be made for specific loans, but
               the entire allowance is available for any loan that, in
               management's judgment, should be charged-off. Loan losses are
               charged against the allowance when management believes the
               uncollectibility of a loan balance is confirmed. The Company
               accounts for impaired loans in accordance with SFAS No. 114,
               "Accounting for Creditors for Impairment of a Loan." SFAS 114
               requires that impaired loans be measured based upon the present
               value of expected future cash flows discounted at the loan's
               effective interest rate or, as an alternative, at the loan's
               observable market price or fair value of the collateral. A loan
               is defined under SFAS No. 114 as impaired when, based on current
               information and events, it is probable that a creditor will be
               unable to collect all amounts due according to the contractual
               terms of the loan agreement. In applying the provisions of SFAS
               No. 114, the Company considers its investment in one-to-four
               family residential loans and consumer installment loans to be
               homogenous and therefore excluded from separate identification
               for evaluation of impairment. With respect to the Company's
               investment in nonresidential and multi-family residential real
               estate loans, and its evaluation of impairment thereof, such
               loans are generally collateral dependent and, as a result, are
               carried as a practical expedient at the fair value of the
               collateral.

               Collateral dependent loans which are more than ninety days
               delinquent are considered to constitute more than a minimum delay
               in repayment and are evaluated for impairment under SFAS No. 114
               at that time.

               At December 31, 2005 and 2004, the amount of the Company's
               impaired loans were not material to the consolidated financial
               statements.

               2.   POTENTIAL PROBLEM LOANS

               The Company had no potential problem loans as of December 31,
               2005 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.

<PAGE>

               3.   LOAN CONCENTRATIONS

               Refer to Page 55, Note K of Notes to Consolidated Financial
               Statements set forth in our 2005 Annual Report, which is
               incorporated herein by reference.

     IV SUMMARY OF LOAN LOSS EXPERIENCE

          For additional explanation of factors which influence management's
          judgment in determining amounts charged to expense, refer pages 16 of
          the "Management's Discussion and Analysis" and Notes to Consolidated
          Financial Statements set forth in our 2005 Annual Report, which is
          incorporated herein by reference.

          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, 2005, 2004, 2003, 2002 and 2001:

<TABLE>
<CAPTION>
                                              2005       2004        2003       2002       2001
                                            --------   --------    --------   --------   --------
                                                              (Dollars in thousands)
<S>                                         <C>        <C>         <C>        <C>        <C>
LOANS
Loans outstanding                           $232,011   $215,447    $198,608   $187,888   $183,340
Average loans outstanding                   $224,945   $208,658    $192,725   $184,131   $187,995

ALLOWANCE FOR LOAN LOSSES
Balance at beginning of year                $  2,995   $  2,843    $  2,971   $  2,879   $  2,790
Loan Charge-offs:
   Commercial                                     89         58         250        135        268
   Commercial real estate                         --         --          79         45         --
   Residential real estate                       331         16          28         84         67
   Installment                                   342        645         459        507        728
                                            --------   --------    --------   --------   --------
Total loan charge-offs                           762        719         816        771      1,063
                                            --------   --------    --------   --------   --------
Loan recoveries
   Commercial                                      7          4           3         17         27
   Commercial real estate                         --         --          --         --         --
   Residential real estate                        50          7           3          1         10
   Installment                                   202        242         142        215        335
                                            --------   --------    --------   --------   --------
Total loan recoveries                            259        253         148        233        372
                                            --------   --------    --------   --------   --------
Net loan charge-offs                             503        466         668        538        691
Provision for loan losses                        412        618         540        630        780
                                            --------   --------    --------   --------   --------
Balance at end of year                      $  2,904   $  2,995    $  2,843   $  2,971   $  2,879
                                            ========   ========    ========   ========   ========
Ratio of net charge-offs to average loans       0.22%      0.22%       0.35%      0.29%      0.37%
                                            --------   --------    --------   --------   --------
</TABLE>
<PAGE>

     B    ALLOCATION OF THE ALLOWANCE FOR LOAN LOSSES

          The following table allocates the allowance for possible loan losses
          at December 31, 2005, 2004, 2003, 2002 and 2001. Management adjusts
          the allowance periodically to account for changes in national trends
          and economic conditions in the Banks' service areas. 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>
                      2005                    2004                    2003                    2002                    2001
(Dollars in  ----------------------  ----------------------  ----------------------  ----------------------  ----------------------
thousands)   Allowance   % Loans to  Allowance   % Loans to  Allowance   % Loans to  Allowance   % Loans to  Allowance   % Loans to
Loan type      Amount   Total Loans    Amount   Total Loans    Amount   Total Loans    Amount   Total Loans    Amount   Total Loans
-----------  ---------  -----------  ---------  -----------  ---------  -----------  ---------  -----------  ---------  -----------
<S>          <C>        <C>          <C>        <C>          <C>        <C>          <C>        <C>          <C>        <C>
Commercial     $  502      14.08%      $  530      16.39%      $  452      14.13%      $  361      11.21%      $  325      11.73%
Commercial
   Real
   Estate       1,092      42.11%       1,136      38.57%       1,005      34.69%         965      36.88%         872      33.80%
Residential
   Real
   Estate         310      24.89%         313      25.56%         387      26.30%         403      27.96%         381      29.54%
Installment       739      18.92%         532      19.48%         982      24.88%         879      23.95%         613      24.93%
Unallocated       261        N/A          484        N/A           17        N/A          363        N/A          688        N/A
               ------     ------       ------     ------       ------     ------       ------     ------       ------     ------
   Total       $2,904     100.00%      $2,995     100.00%      $2,843     100.00%      $2,971     100.00%      $2,879     100.00%
               ======     ======       ======     ======       ======     ======       ======     ======       ======     ======
</TABLE>

     V    DEPOSITS

          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 2005 Annual Report and
               incorporated herein by reference.

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

               The time to remaining maturity for time deposits in excess of
               $100,000 are:

<TABLE>
<CAPTION>
                             2005
                           -------
(Dollars in thousands)
<S>                        <C>
Less than 3 months         $10,961
Over 3 through 6 months      3,489
Over 6 through 12 months    10,082
Over 12 months              14,591
                           -------
Totals                     $39,123
                           =======
</TABLE>

     VI   RETURN ON EQUITY AND ASSETS

          Our dividend payout ratio and equity to assets ratio:

<TABLE>
<CAPTION>
                                 DECEMBER 31,
                        -----------------------------
                         2005    2004    2003    2002
                        -----   -----   -----   -----
<S>                     <C>     <C>     <C>     <C>
Dividend Payout Ratio   60.76%  55.84%  45.88%  50.00%
Equity to Assets         7.88%   8.26%   8.43%   8.89%
</TABLE>

          For other ratios refer to the inside front cover of our 2005 Annual
          Report to Shareholders, incorporated herein by reference.

<PAGE>

     VII  SHORT-TERM BORROWINGS

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

<TABLE>
<CAPTION>
                                                   2005      2004      2003
                                                 -------   -------   -------
                (In thousands)
<S>                                              <C>       <C>       <C>
Balance at December 31                           $ 7,142   $12,612   $ 5,485
Weighted average interest rate at December 31       2.58%     0.96%     0.81%
Average daily balance during the year            $10,129   $ 9,013   $ 8,766
Average interest rate during the year               2.96%     0.92%     0.83%
Maximum month-end balance during the year        $14,555   $12,632   $13,980
</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>
                                                   2005      2004      2003
                                                 -------   -------   -------
                (In thousands)
<S>                                              <C>       <C>       <C>
Balance at December 31                           $35,000   $32,500   $15,283
Weighted average interest rate at December 31       3.62%     2.70%     1.11%
Average daily balance during the year            $27,217   $29,466   $ 7,103
Average interst rate during the year                3.44%     1.90%     1.45%
Maximum month-end balance during the year        $36,057   $36,895   $15,283
</TABLE>

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

          SUPPLEMENTAL ITEM - EXECUTIVE OFFICERS OF THE REGISTRANT

          Pursuant to General Instruction G(3) of Form 10-K, the following
          information on the executive officers of the Company is included as an
          additional item in Part I:

<TABLE>
<CAPTION>
                                       Executive Officers Positions held
Name                     Age           with Company; Business Experience
----                     ---   -------------------------------------------------
<S>                      <C>   <C>
James W. Everson          67   Chairman, President and Chief Executive Officer

Scott Everson             38   Senior Vice President and Chief Operating Officer

Randall M. Greenwood      42   Senior  Vice  President  and  Chief  Financial
                               Officer, Treasurer

James A. Lodes            59   Vice President - Lending

Norman F. Assenza, Jr.    59   Vice President - Operations and Secretary

Michael A. Lloyd          37   Vice President - Information Systems
</TABLE>

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

          Scott A. Everson served as President and Chief Operating Officer from
          April 2002 to November 2004 and Senior Vice President, Operations and
          Retail Banking, of The Citizens Savings Bank from May 1999 to April
          2002.

<PAGE>

          Prior to that he served Assistant Vice President/Branch Manager
          Bridgeport Office from 1997 to May 1999. In addition, he is currently
          President and Chief Executive Office and a Director of The Citizens
          Savings Bank. He has held this position since November 2004.

          Michael A. Lloyd served as Senior Vice President Management
          Information Systems from October 1999 to April 2002 of the Citizens
          Savings Bank and prior to that he served as Vice President Management
          Information Systems from April 1999 to October 1999. He served as Data
          Processing Manager from 1994 to April 1999 for The Citizens Savings
          Bank.

          Each of these Executive Officers are serving at-will in their current
          positions. The Officers have held the positions for the following time
          periods: James W. Everson, 23 years, Norman F. Assenza, Jr., 23 years,
          James A. Lodes, 10 years, and Randall M. Greenwood, 8 years.

ITEM 1A. RISK FACTORS

     An investment in the Company's common stock is subject to risks inherent to
     the Company's business. The material risks and uncertainties that
     Management believes affect the Company are described below. Before making
     an investment decision, investors should carefully consider the risks and
     uncertainties described below together with all the other information
     included or incorporated by reference in this report. The risks and
     uncertainties described below are not the only ones facing the Company.
     Additional risks and uncertainties that Management is not aware of or
     focused on or that Management currently deems immaterial may also impair
     the Company's business operations. This report is qualified in its entirety
     by these risk factors.

     If any of the following risks actually occur, the Company's financial
     condition and results of operations could be materially and adversely
     affected. If this were to happen, the value of the Company's common stock
     could decline significantly, and investors would lose all or part of their
     investment.

RISKS RELATED TO THE COMPANY'S BUSINESS

     INTEREST RATE RISK - The Company's earnings and cash flows are largely
     dependent upon its net interest income. Net interest income is the
     difference between interest income earned on interest earning assets such
     as loans and securities and interest income paid on interest bearing
     liabilities such as deposits and borrowings. Interest rates are highly
     sensitive to many factors that are beyond the Company's control, including
     general economic and market conditions and policies of various governmental
     and regulatory agencies and, in particular, the Board of Governors of the
     Federal Reserve System. Changes in monetary policy, including changes in
     interest rates, could influence not only the interest the Company receives
     on loans and investment securities and the amount of interest it pays on
     deposits and borrowings, but such changes could also affect the Company's
     ability to originate loans and obtain deposits and the fair values of the
     Company's financial assets and liabilities. If the interest rates paid on
     deposits and other borrowings increase at a faster rate or decrease at a
     slower rate than the interest rates received on loans and investments, the
     Company's net interest income, and therefore earnings, could be adversely
     affected.

     Although Management believes it has implemented effective asset and
     liability management strategies to reduce the potential effects of changes
     in interest rates on the Company's results of operations, any substantial,
     unexpected, or prolonged change in market interest rates or in the term
     structure of interest rates could have a material adverse effect on the
     Company's financial condition and results of operations. See Item 7A.
     Quantitative and Qualitative Disclosures about Market Risk in this report
     for further discussion related to the Company's management if interest rate
     risk.

     LENDING RISK - There are inherent risks associated with the Company's
     lending activities. These risks include, among other things, the impact of
     changes in interest rates and changes in economic conditions in the markets
     where the Company operates as well as those across the State of Ohio and
     the United States. Increases in interest rates and/or weakening economic
     conditions could adversely impact the ability of borrowers to repay
     outstanding loans or the value of the collateral securing these loans. The
     Company is also subject to various laws and regulations that affect its
     lending activities. Failure to comply with applicable laws and regulations
     could subject the Company to regulatory enforcement action that could
     result in the assessment of significant civil money penalties against the
     Company.

     The Company maintains an Allowance for Loan Losses, which is a reserve
     established through a provision for loan losses charged to expense, that
     represents Management's best estimate of probable loan losses that have
     been incurred within the existing portfolio of loans. The Allowance, in the
     judgment of Management, is necessary to reserve for estimated loan losses
     and risks inherent in the loan portfolio. The level of the Allowance
     reflects Management's continuing evaluation of loan loss experience,
     current loan portfolio quality, present economic, political, and regulatory
     conditions, and unidentified losses inherent in the current loan portfolio.
     The determination of the appropriate level of the Allowance inherently
     involves a high degree of subjectivity and requires the Company to make
     significant estimates of current credit risks and future trends, all of
     which may undergo material changes. Changes in economic conditions
     affecting borrowers, new information regarding existing loans,
     identification of additional problem loans, and other factors, both within
     and outside of the Company's control, may require an increase in the
     Allowance. In addition, bank regulatory agencies

<PAGE>

     periodically review the Company's Allowance and may require an increase in
     the provision for loan losses or the recognition of further loan
     charge-offs, based on judgments different from those of Management.

     ECONOMIC RISK - The Company's success depends significantly on the general
     economic conditions of Southeastern and Central Ohio. Unlike larger
     regional or national banks that are more geographically diversified, the
     Company provides banking and financial services to customers primarily in
     Southeast and Central Ohio and Northeast West Virginia. The local economic
     conditions in these areas have a significant impact on the demand for the
     Company's products and services as well as the ability of the Company's
     customers to repay loans, the value of the collateral securing loans, and
     the stability of the Company's deposit funding sources. A significant
     decline in general economic conditions caused by inflation, recession, acts
     of terrorism, unemployment, changes in securities markets or other factors
     could impact these local economic conditions and, in turn, have a material
     adverse effect on the Company's financial condition and results of
     operations.

     COMPETITIVE RISK - The Company faces substantial competition in all areas
     of its operations from a variety of different competitors, many of which
     are larger and may have more financial resources. Such competitors
     primarily include regional and national banks within the market the Company
     operates. The Company also faces competition from many other types of
     financial institutions, including savings and loan institutions, credit
     unions, finance companies, brokerage firms, insurance companies, and other
     financial intermediaries. The financial services industry could become even
     more competitive as a result of legislative, regulatory, and technological
     changes and continued consolidation. Banks, securities firms, and insurance
     companies can merge under the umbrella of a financial holding company,
     which can offer virtually any type of financial service, including banking,
     securities underwriting, and insurance. Also, technology has lowered
     barriers to entry and made it possible for non-banks to offer products and
     services traditionally provided by banks, such as automatic transfer and
     automatic payment systems. Many of the Company's competitors have fewer
     regulatory constraints, and may have lower cost structures. Additionally,
     many competitors may be able to achieve economies of scale, and as a
     result, may offer a broader range of products and services as well as
     better pricing for those products and services than the Company can.
     Increased competition could adversely affect the Company's growth and
     profitability, which, in turn, could have a material adverse effect on the
     Company's financial condition and results of operations.

     REGULATORY RISK - The Company is subject to extensive federal and state
     regulation and supervision. Banking regulations are primarily intended to
     protect depositors' funds, federal deposit insurance funds, and the banking
     system as a whole, not shareholders. These regulations affect the Company's
     lending practices, capital structure, investment practices, dividend
     policy, and growth, among other things. Congress and federal regulatory
     agencies continually review banking laws, regulations, and policies for
     possible changes. Changes to statutes, regulations, or regulatory policies,
     including changes in interpretation or implementation of statutes,
     regulations, or policies, could affect the Company in substantial and
     unpredictable ways. Such changes could subject the Company to additional
     costs, limit the types of financial services and products the Company may
     offer and/or increase the ability of non-banks to offer competing financial
     products and services, among other things. Failure to comply with laws,
     regulations, or policies could result in sanctions by regulatory agencies,
     civil money penalties, and/or reputation damage, which could have a
     material adverse effect on the Company's business, financial condition, and
     results of operations. While the Company has policies and procedures
     designed to prevent any such violations, there can be no assurance that
     such violations will not occur.

     FAILURE OR CIRCUMVENTION OF CONTROLS AND PROCEDURES - Management regularly
     reviews and updates the Company's internal controls, disclosure controls,
     and procedures, and corporate governance policies and procedures. Any
     system of controls, however well designed and operated, is based in part on
     certain assumptions and can provide only reasonable, not absolute,
     assurances that the objectives of the system are met. Any failure or
     circumvention of the Company's controls and procedures or failure to comply
     with regulations related to controls and procedures could have a material
     adverse effect on the Company's business, results of operations, and
     financial condition.

ITEM 1B. UNRESOLVED STAFF COMMENTS

     None.
<PAGE>

ITEM 2 PROPERTIES

     The Company owns and operates its Main Office in Martins Ferry, Ohio and
     the following offices:

<TABLE>
<CAPTION>
Location
--------
<S>                      <C>
Bridgeport, Ohio         Owned
Colerain, Ohio           Owned
Jewett, Ohio             Owned
St. Clairsville, Ohio    Leased
Dover, Ohio              Owned
Dellroy, Ohio            Owned
New Philadelphia, Ohio   Owned
Strasburg, Ohio          Owned
Sherrodsville, Ohio      Owned
Glouster, Ohio           Owned
Glouster, Ohio           Owned
Amesville, Ohio          Owned
Nelsonville, Ohio        Owned
Lancaster, Ohio          Owned
Lancaster, Ohio          Owned
Lancaster, Ohio          Owned
</TABLE>

     Management believes the properties described above to be in good operating
     condition for the purpose for which they are used. The properties are
     unencumbered by any mortgage or security interest and is, in management's
     opinion, adequately insured.

ITEM 3 LEGAL PROCEEDINGS

     There are no material legal proceedings, other than ordinary routine
     litigation incidental to its business, to which the Company or its
     subsidiaries is a party or to which any of its property is subject.

     United Bancorp and its subsidiaries have not been required to pay a penalty
     to the IRS for failing to make disclosures with respect to certain
     transactions that have been identified by the IRS as abusive or that have a
     significant tax avoidance purpose.

ITEM 4 SUBMISSION OF MATTERS TO A VOTE OF SECURITY HOLDERS

     No matters were submitted to shareholders for a vote during the fourth
     quarter of 2005.

PART II

ITEM 5 MARKET FOR REGISTRANT'S COMMON EQUITY, RELATED SHAREHOLDER MATTERS AND
     ISSUER PURCHASES OF EQUITY SECURITIES

     Refer to Page 7, "Shareholder Information" of the 2005 Annual Report To
     Shareholders and refer to Page 43, Note A, Number 19, of the Notes to the
     Consolidated Financial Statements of the Company in the 2005 Annual Report
     To Shareholders for common stock trading ranges, cash dividends declared
     and information relating to dividend restrictions, which are incorporated
     herein by reference.

<PAGE>

                                           ISSUER PURCHASES OF EQUITY SECURITIES

<TABLE>
<CAPTION>
                                                                  (C)                       (D)
                                                            TOTAL NUMBER OF         MAXIMUM NUMBER (OR
                      (A)                                  SHARES (OR UNITS)     APPROXIMATE DOLLAR VALUE)
                TOTAL NUMBER OF            (B)           PURCHASED AS PART OF    OF SHARES (OR UNITS) THAT
               SHARES (OR UNITS)    AVERAGE PRICE PAID    PUBLICLY ANNOUNCED    MAY YET BE PURCHASED UNDER
   PERIOD          PURCHASED       PER SHARE (OR UNIT)     PLANS OR PROGRAMS       THE PLANS OR PROGRAMS
   ------      -----------------   -------------------   --------------------   --------------------------
<S>            <C>                 <C>                   <C>                    <C>
Month #l
10/1/2005 to
10/31/2005

Month #2
11/1/2005 to
11/30/2005

Month #3
12/1/2005 to         27,500               $11.95                27,500                  $1,671,000
12/31/2005
                     ------               ------                ------                  ----------
Total                27,500               $11.95                27,500                  $1,671,000
                     ======               ======                ======                  ==========
</TABLE>

UNITED BANCORP PURCHASED THESE SHARES UNDER A STOCK PURCHASE PROGRAM PUBLICLY
ANNOUNCED BY A PRESS RELEASE ISSUED ON NOVEMBER 16, 2005, UNDER WHICH ITS BOARD
OF DIRECTORS AUTHORIZED MANAGEMENT TO CAUSE THE COMPANY TO PURCHASE UP TO $2
MILLION OF ITS COMMON SHARES OVER A TWO-YEAR PERIOD. SUCH AUTHORIZATION WILL
EXPIRE ON NOVEMBER 15, 2007.

ITEM 6 SELECTED CONSOLIDATED FINANCIAL DATA

     Refer to inside front cover, "Decade of Progress" of the 2005 Annual Report
     To Shareholders, which is incorporated herein by reference.

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

     Refer to Pages 14-28, "Management's Discussion and Analysis" of the 2005
     Annual Report To Shareholders.

     CRITICAL ACCOUNTING POLICY

     The consolidated financial statements are prepared in accordance with
     accounting principles generally accepted in the United States of America
     and follow general practices within the financial services industry. The
     application of these principles requires management to make certain
     estimates, assumptions and judgements that affect the amounts reported in
     the financial statements and footnotes. These estimates, assumptions and
     judgements are based on information available as of the date of the
     financial statements, and as this information changes, the financial
     statements could reflect different estimates, assumptions, and judgements.

     The procedures for assessing the adequacy of the allowance for loan losses
     reflect our evaluations of credit risk after careful consideration of all
     information available to management. In developing this assessment,
     management must rely on estimates and exercise judgement regarding matters
     where the ultimate outcome is unknown such as economic factors, development
     affecting companies in specific industries and issues with respect to
     single borrowers. Depending on changes in circumstances, future assessments
     of credit risk may yield materially different results, which may require an
     increase or a decrease in the allowance for loan losses.

<PAGE>

     The allowance is regularly reviewed by management to determine whether the
     amount is considered adequate to absorb probable losses. This evaluation
     includes specific loss estimates on certain individually reviewed loans,
     statistical losses, estimates for loan pools that are based on historical
     loss experience, and general loss estimates that are based on the size,
     quality and concentration characteristics of the various loan portfolios,
     adverse situations that may affect a borrower's ability to repay, and
     current economic and industry conditions. Also considered as part of that
     judgement is a review of each bank's trend in delinquencies and loan
     losses, and economic factors.

     The allowance for loan loss is maintained at a level believed adequate by
     management to absorb probable losses inherent in the loan portfolio.
     Management's evaluation of the adequacy of the allowance is an estimate
     based on management's current judgement about the credit quality of the
     loan portfolio. While the Company strives to reflect all known risk factors
     in its evaluation, judgement errors may occur.

The following table sets forth the Company's contractual obligations at December
31, 2005:

<TABLE>
<CAPTION>
                                               PAYMENT DUE BY PERIOD
                              -------------------------------------------------------
                                        LESS THAN                           MORE THAN
CONTRACTUAL OBLIGATIONS        TOTAL      1 YEAR    1-3 YEARS   3-5 YEARS    5 YEARS
-----------------------       -------   ---------   ---------   ---------   ---------
<S>                           <C>       <C>         <C>         <C>         <C>
Long term debt obligations    $47,334    $36,483      $7,181      $1,270      $2,400
Operating lease obligations        18         18          --          --
Loan and standby letters
   of credit commitments       32,500     32,500          --          --          --
                              -------    -------      ------      ------      ------
Total                         $79,852    $69,001      $7,181      $1,270      $2,400
                              =======    =======      ======      ======      ======
</TABLE>

ITEM 7A QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

     Refer to Page 21-23 "Asset/Liability Management and Sensitivity to Market
     Risks" of the 2005 Annual Report to Shareholders, which is incorporated
     herein by reference.

ITEM 8 FINANCIAL STATEMENTS AND SUPPLEMENTARY DATA

     Refer to Page 29-60 of the 2005 Annual Report To Shareholders, which is
     incorporated herein by reference.

ITEM 9 CHANGES IN AND DISAGREEMENTS WITH ACCOUNTANTS

     Not applicable.

ITEM 9A CONTROLS AND PROCEDURES

     The Company, under the supervision, and with the participation, of its
     management, including the Company's Chief Executive Officer and Chief
     Financial Officer, evaluated the effectiveness of the design and operation
     of the Company's disclosure controls and procedures as of December 31,
     2005, pursuant to the requirements of Exchange Act Rule 13a-15. Based upon
     that evaluation, the Chief Executive Officer and Chief Financial Officer
     concluded that the Company's disclosure controls and procedures were
     effective as of December 31, 2005, in timely alerting them to material
     information relating to the Company (including its consolidated
     subsidiaries) required to be included in the Company's periodic SEC
     filings. There was no change in the Company's internal control over
     financial reporting that occurred during the Company's fiscal quarter ended
     December 31, 2005 that has materially affected, or is reasonably likely to
     materially affect, the Company's internal control over financial reporting.

ITEM 9B OTHER INFORMATION

     None.
<PAGE>

PART III

ITEM 10 DIRECTORS AND EXECUTIVE OFFICERS OF THE REGISTRANT

     Information concerning executive officers of the Company is set forth in
     Part I, "Supplemental Item - Executive Officers of Registrant." Other
     information responding to this Item 10 is included in the Registrant's
     Proxy Statement for the 2006 Annual Meeting of Shareholders and is
     incorporated by reference under the captions "Proposal 1 - Election of
     Directors" and "Section 16(a) Beneficial Ownership Reporting Compliance",
     on pages 7 through 11 and page 24, respectively. Information concerning the
     Audit Committee Financial Expert is included in the Registrant's Proxy
     Statement for the 2006 Annual Meeting of Shareholders under the caption
     "Committees of the Board - Audit Committee", page 8 and is incorporated
     herein by reference.

     The Company's Board of Directors has adopted a Code of Ethics that applies
     to its Principal Executive, Principal Financial, and Principal Accounting
     Officers. A copy of the Company's Code of Ethics is posted and can be
     viewed on the Company's internet web site at http://www.unitedbancorp.com.
     In the event the Company amends or waives any provision of its Code of
     Ethics which applies to its Principal Executive, Principal Financial, or
     Principal Accounting Officers, and which relates to any element of the code
     of ethics definition set forth in Item 406(b) of Regulation S-K, the
     Company shall post a description of the nature of such amendment or waiver
     on its internet web site. With respect to a waiver of any relevant
     provision of the code of ethics, the Company shall also post the name of
     the person to whom the waiver was granted and the date of the waiver grant.

ITEM 11 EXECUTIVE COMPENSATION

     The information required by this item is incorporated by reference from the
     captions titled "Executive Compensation and Other Information" and
     "Compensation Committee Interlocks and Insider Participation in
     Compensation Decisions" of the Registrant's Proxy Statement for 2006 Annual
     Meeting of Shareholders.

ITEM 12 SECURITY OWNERSHIP OF CERTAIN BENEFICIAL OWNERS AND MANAGEMENT AND
     RELATED STOCK HOLDER MATTERS

     The information contained in the Registrant's Proxy Statement for the 2006
     Annual Meeting of Shareholders under the caption "Ownership of Voting
     Shares" is incorporated herein by reference.

<PAGE>

     The following table is a disclosure of securities authorized for issuance
     under equity compensation plans:

                      EQUITY COMPENSATION PLAN INFORMATION

<TABLE>
<CAPTION>
                                                                                                   Number of securities remaining
                                  Number of securities to be                                       available for future issuance
                                   issued upon exercise of      Weighted-average exercise price   under equity compensation plans
                                outstanding options, warrants       of outstanding options,       (excluding securities reflected
                                          and rights                  warrants and rights                  in column (a))
                                -----------------------------   -------------------------------   -------------------------------
<S>                             <C>                             <C>                               <C>
Equity compensation plans
approved bysecurity holders                 94,609                           $11.51                               0

Equity compensation plans not
approved by security holders
                                            ------                           ------                             ---
   Total                                    94,609                           $11.51                               0
                                            ======                           ======                             ===
</TABLE>

ITEM 13 CERTAIN RELATIONSHIPS AND RELATED TRANSACTIONS

     The information required by this item is incorporated by reference from the
     caption titled "Compensation Committee Interlocks and Insider Participation
     in Compensation Decisions" and "Certain Transactions" in the Registrant's
     Proxy Statement for the 2006 Annual Meeting of Shareholders.

ITEM 14 PRINCIPAL ACCOUNTANT FEES AND SERVICES

     The information required by this item is incorporated by reference from the
     section under the caption "Principal Accounting Firm Fees" of the
     Registrant's Proxy Statement for the 2006 Annual Meeting of Shareholders.

PART IV

ITEM 15 EXHIBITS AND FINANCIAL STATEMENT/SCHEDULES

     FINANCIAL STATEMENTS

     (a)  The following Consolidated Financial Statements and related Notes to
          Consolidated Financial Statements, together with the report of
          Independent Registered Public Accounting Firm dated February 28, 2006,
          appear on pages 29 through 60 of the United Bancorp, Inc. 2005 Annual
          Report and are incorporated herein by reference.

               Consolidated Statements of Financial Condition
               December 31, 2005 and 2004

               Consolidated Statements of Earnings for the Years Ended
               December 31, 2005, 2004 and 2003

               Consolidated Statements of Shareholders' Equity for the Years
               Ended December 31, 2005, 2004 and 2003

               Consolidated Statements of Cash Flows for the Years Ended
               December 31, 2005, 2004 and 2003

               Notes to Consolidated Financial Statements for the Years Ended
               December 31, 2005, 2004 and 2003

               Report of Independent Registered Public Accounting Firm

<PAGE>

                                    EXHIBITS

<TABLE>
<CAPTION>
Exhibit Number   Exhibit Description
--------------   -------------------
<S>              <C>
     3.1         Amended Articles of Incorporation (1)

     3.2         Amended Code of Regulations (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)

     10.4        Norman F. Assenza Change in Control Agreement (3)

     10.5        James A. Lodes Change in Control Agreement (3)

     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,
                 Alan M. Hooker, Scott A. Everson, Randall M. Greenwood, Norman
                 F. Assenza, 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.

     10.12       Junior Subordinated Indenture between United Bancorp, Inc. and
                 Wilmington Trust Company, as Trustee, dated as of November 17,
                 2005.

     10.13       Guaranty Agreement between United Bancorp, Inc., as Guarantor,
                 and Wilmington Trust Company, as Guarantee Trustee, dated as of
                 November 17, 2005.
</TABLE>

<PAGE>

<TABLE>
<S>              <C>
     13          2005 Annual Report

     21          Subsidiaries of the Registrant (5)

     23          Consent of Grant Thornton, 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
</TABLE>

(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.
<PAGE>

                               UNITED BANCORP INC.
                                   SIGNATURES

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.

(Registrant) United Bancorp, Inc.


By: /s/ James W. Everson                March 29, 2004
    ---------------------------------
    James W. Everson, Chairman,
    President & CEO

Pursuant to the requirements of the Securities Exchange Act of 1934, this report
has been signed below by the following persons on behalf of the registrant and
in the capacities and on the dates indicated.


By: /s/ James W. Everson                March 29, 2006
    ---------------------------------
    James W. Everson, Chairman,
    President & CEO


By: /s/ Randall M. Greenwood            March 29, 2006
    ---------------------------------
    Randall M. Greenwood, Senior Vice
    President & CFO


By: /s/ Michael J. Arciello             March 29, 2006
    ---------------------------------
    Michael J. Arciello, Director


By: /s/ Terry A. McGhee                 March 29, 2006
    ---------------------------------
    Terry A. McGhee, Director


By: /s/ John M. Hoopingarner            March 29, 2006
    ---------------------------------
    John M. Hoopingarner, Director


By: /s/ Richard L. Riesbeck             March 29, 2006
    ---------------------------------
    Richard L. Riesbeck, Director


By: /s/ L.E. Richardson, Jr.            March 29, 2006
    ---------------------------------
    L.E. Richardson, Jr., Director


By: /s/ Matthew C. Thomas               March 29, 2006
    ---------------------------------
    Matthew C. Thomas, Director

<PAGE>

EXHIBIT INDEX

<TABLE>
<CAPTION>
Exhibit Number   Exhibit Description
--------------   -------------------
<S>              <C>
     3.1         Amended Articles of Incorporation (1)

     3.2         Amended Code of Regulations (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)

     10.4        Norman F. Assenza Change in Control Agreement (3)

     10.5        James A. Lodes Change in Control Agreement (3)

     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,
                 Alan M. Hooker, Scott A. Everson, Randall M. Greenwood, Norman
                 F. Assenza, 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.

     10.12       Junior Subordinated Indenture between United Bancorp, Inc. and
                 Wilmington Trust Company, as Trustee, dated as of November 17,
                 2005.

     10.13       Guaranty Agreement between United Bancorp, Inc., as Guarantor,
                 and Wilmington Trust Company, as Guarantee Trustee, dated as of
                 November 17, 2005.
</TABLE>

<PAGE>

<TABLE>
<S>              <C>
     13          2005 Annual Report

     21          Subsidiaries of the Registrant (5)

     23          Consent of Grant Thornton, 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
</TABLE>

(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.