UBCP · United Bancorp, Inc.

United Bancorp, Inc. delivered higher Q1 2026 earnings with net income of $1,911,000 and diluted EPS of $0.33, reflecting 2.1% and 3.1% year-over-year growth despite investments in transformative projects that are currently dilutive. Balance sheet expansion drove results, with total assets reaching $858.5 million (up 3.6%) fueled by $3.5 million loan growth to $500.3 million, $6.0 million securities increase to $239.9 million, and $18.3 million bank-owned life insurance growth to $38.2 million. Deposits surged 6.8% to $666.7 million, led by $27.4 million in lower-cost funding (71.2% of total), enabling a 2.6% drop in interest expense after a $20.0 million FHLB advance matured at 4.39%. This supported 4.2% net interest income growth and net interest margin expansion to 3.72% (up 12bps), trends management expects to continue through 2026. Credit quality remains sound with net charge-offs at -0.01% annualized, though nonaccrual and 30+ day delinquencies rose to 1.36% of loans due to one $4.2 million commercial relationship; levels improved 5.7% from Q4 2025. Regulatory capital strengthened 2.7% to 8.8% of average assets. Management highlighted infrastructure progress, including a new Wheeling, WV banking center exceeding loan forecasts, scaling Unified Mortgage Division for fee income, Treasury Management for low-cost deposits, and upcoming AI, omnichannel account opening, and Unified Customer Care Center to drive growth toward $1.0 billion assets. Shareholders received enhanced dividends: regular $0.1925 (up 5.5%) plus $0.175 special, totaling $0.3675, yielding 6.2% forward at $15.21 share price (up 13.3% year-over-year). CFO Greenwood and CEO Everson expressed satisfaction with earnings amid economic uncertainty from geopolitical tensions, confident in future returns on investments.