UNITED BANCORP INC OH
For the period ended Dec 31, 2023. Filed Mar 20, 2024.
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FY2023 · Filed Mar 20, 2024
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EX-13 · Cash Equivalents
Cash Equivalents
The Company considers all liquid investments with original maturities of three months or less to be cash equivalents. At December 31, 2023 and 2022, cash equivalents consisted primarily of due from accounts with the Federal Reserve and other correspondent banks.
Currently, the FDIC’s insurance limits are $250,000. At December 31, 2023 and 2022, the Company’s various cash accounts did not exceed the federally insured limit of $250,000. At December 31, 2023 and 2022, the Company held $33,418,000 and $21,541,000 at the Federal Home Loan Bank and the Federal Reserve Bank, respectively, which are not subject to FDIC limits.
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