UNITED BANCORP INC /OH/

Nonperforming Loans

The following table present the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of December 31, 2025:

The Company did recognize approximately $6,000 interest income on nonaccrual loans during the the period ended December 31, 2025.

For the year ended December 31, 2025 and 2024, the Bank did not grant any loan modifications to borrowers experiencing financial difficulty.

As of December 31, 2025, the Bank has not initiated formal proceedings on any loans that have not been transferred into foreclosed assets.

The following table present the amortized cost basis of loans on nonaccrual status and loans past due over 90 days still accruing interest as of December 31, 2024:

The Company recognized approximately $4,000 interest income on nonaccrual loans during the period ended December 31, 2024.

Note 5: Premises and Equipment

Major classifications of premises and equipment, stated at cost, are as follows:

Depreciation and amortization charged to operations was $1,226,000 in 2025 and $1,079,000 in 2024.

Note 6: Time Deposits

Time deposits in denominations of $250,000 or more were $41.5 million at December 31, 2025 and $35.9 million at December 31, 2024. At December 31, 2025, the scheduled maturities of time deposits are as follows:

Note 7: Borrowings

At December 31, 2025 and 2024, as a member of the Federal Home Loan Bank system the Bank had the ability to obtain up to $83.6 million and $70.5 million, respectively, in additional borrowings based on securities and certain loans pledged to the FHLB. At December 31, 2025 and 2024, Advances from the Federal Home Loan Bank were $75 million. At December 31, 2025 and 2024, required annual payments on Federal Home Loan Bank advances were for year ending December 31, 2026 $20 million (4.39% fixed rate), December 31, 2027 $35 million (4.24% fixed rate) and December 31, 2028 $20 million (4.11% fixed rate).

At December 31, 2025 and 2024, the Bank had approximately $275.1 million and $263.2 million, respectively of one- to four-family residential real estate and commercial real estate loans pledged as collateral for borrowings. Also at December 31, 2025 and 2024, the Company and the Bank have cash management lines of credit with various correspondent banks (excluding FHLB cash management lines of credit) enabling additional borrowings of up to $18.0 million. At December 31, 2025 the Company pledged approximately $42.0 million of available - for - sale securities to secure a line of credit facility with the Federal Reserve Bank. The amount of the credit facility is approximately $29.2 million as of December 31, 2025 and $29.2 at December 31, 2024.

Securities sold under repurchase agreements were approximately $29.4 million and $30.5 million at December 31, 2025 and 2024, respectively.

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. Physical control is maintained for all securities sold under repurchase agreements. Information concerning securities sold under agreements to repurchase is summarized as follows:

All repurchase agreements are subject to term and conditions of repurchase/security agreements between the Company and the customer and are accounted for as secured borrowings. The Company’s repurchase agreements reflected in short-term borrowings consist of customer accounts and securities which are pledged on an individual security basis.

The following table presents the Company’s repurchase agreements accounted for as secured borrowings: