UNITED BANCORP INC /OH/
For the period ended Dec 31, 2025. Filed Mar 18, 2026.
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FY2025 · Filed Mar 18, 2026
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EX-13 · Noninterest Expense
Noninterest Expense
The Company saw its noninterest expense increase by $2.5 million or 11.4% year-over-year. During 2024, our Company was able to successfully apply and be approved for an Employee Retention Credit (ERC) of approximately $1,081,000 which helped lower noninterest expenses for 2024. Also, during 2025, the Company recorded a total provision of $771,000 on other real estate owned to bring down the basis in certain other real estate owned (“OREO”) down to a value we effectively dispose of the properties. After consider the ERC and the provision for OREO, non-interest expense increased approximately $648,000 from 2024 to 2025.
Income tax benefit for 2025 was $86,000 compared to $107,000 in 2024, a decrease of $21,000. The Company’s effective benefit tax rate was 1.1% in 2025 and 1.5% in 2024. Refer to Note 9 Income Taxes for a reconciliation of the effective tax rate for the Company. Refer to Annual report for schedule.
| | | | | | | |
|---|---|---|---|---|---|---|
| (In thousands) · · 2025 · · 2024 | ||||||
| Noninterest income | | | | | | |
| Customer service fees | $3,214 | $2,993 | ||||
| Net gains on loan sales | | | 501 | | | 482 |
| Earnings on bank-owned life insurance | | | 768 | | | 761 |
| Realized loss on sale of available for sale securities | | | 841 | | | (116) |
| Other | | | 695 | | | 340 |
| Total noninterest income | $6,019 | $4,460 | ||||
| | | | | | | |
| Noninterest expense | | | | | | |
| Salaries and employee benefits | | 11,825 | $10,083 | |||
| Net occupancy and equipment expense | | | 2,552 | | | 2,318 |
| Professional service fees | | | 1,665 | | | 1,819 |
| Data processing and related electronic services | | | 1,664 | | | 1,709 |
| Insurance | | | 664 | | | 622 |
| FDIC Insurance | | | 377 | | | 372 |
| Franchise and other taxes | | | 375 | | | 585 |
| Advertising expense | | | 529 | | | 425 |
| Printing and office supplies | | | 361 | | | 112 |
| Amortization of intangible assets | | | 122 | | | 150 |
| Provision for other real estate owned | | | 771 | | | 9 |
| Other | | | 3,342 | | | 3,462 |
| Total noninterest expense | $24,138 | $21,666 | ||||
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