UNITED BANCORP INC OH
For the period ended Mar 31, 2024. Filed May 15, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 15, 2024
UBCP$14.05-3.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
(In thousands except per share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| | 2024 | 2023 | ||||
| Operating Activities | | | | | | |
| Net income | | $1,993 | | $1,888 | ||
| Items not requiring (providing) cash | | | | | | |
| Depreciation and amortization | | 261 | | 246 | ||
| Amortization of intangible asset | | | 38 | | | 37 |
| Premium amortization on securities | | 122 | | 136 | ||
| Provision for credit loss expense | | — | | — | ||
| Gain on sale of loans | | (77) | | | — | |
| Loss on sale of available-for-sale securities | | | 194 | | | — |
| Expense related to share based compensation programs | | 543 | | | 445 | |
| Increase in value of bank-owned life insurance | | | (114) | | | (113) |
| Originations of loans held for sale | | | (1,970) | | | — |
| Proceeds from sale of loans held for sale | | | 2,047 | | | — |
| Amortization of debt instrument costs | | 15 | | 15 | ||
| Net change in accrued interest receivable and other assets | | | 931 | | | (1,590) |
| Net change in accrued expenses and other liabilities | | (368) | | (223) | ||
| | | | | | | |
| Net cash provided by operating activities | | 3,615 | | | 841 | |
| | | | | | | |
| Investing Activities | | | | | | |
| Purchase of available-for-sale securities | | | (34,905) | | | (14,733) |
| Proceeds from calls/redemptions of available-for-sale securities | | | 35 | | | 195 |
| Sale of available-for-sale securities | | | 25,091 | | | — |
| Net change in loans | | | 2,959 | | | (2,325) |
| Purchase of FHLB Stock | | | — | | | (3,149) |
| Redemption of FHLB Stock | | | — | | | 1,692 |
| Purchases of premises and equipment | | | (3,392) | | | (286) |
| | | | | | | |
| Net cash (used in) investing activities | | | (10,212) | | | (18,606) |
| | | | | | | |
| Financing Activities | | | | | | |
| Net change in deposits | | | 4,291 | | | 3,452 |
| Net change in securities sold under repurchase agreements | | 11,024 | | 12,403 | ||
| Net change in Federal Home Loan Bank advances | | | — | | | 75,000 |
| Finance lease principal payment | | | (17) | | | — |
| Repurchase of common stock | | | (656) | | | (733) |
| Cash dividends paid | | | (1,938) | | | (1,848) |
| | | | | | | |
| Net cash provided by financing activities | | 12,704 | | | 88,274 | |
| | | | | | | |
| Increase (Decrease) in Cash and Cash Equivalents | | 6,107 | | | 70,509 | |
| | | | | | | |
| Cash and Cash Equivalents, Beginning of Period | | | 40,770 | | | 30,080 |
| | | | | | | |
| Cash and Cash Equivalents, End of Period | | $46,877 | | $100,589 | ||
| | | | | | | |
| Supplemental Cash Flows Information | | | | | | |
| Federal income taxes paid | | $— | | $— | ||
| Adoption of ASC 326 | | $— | | $2,089 | ||
| Interest paid on deposits and borrowings | | $3,477 | | $1,286 | ||
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