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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Item 1. Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets
(In thousands, except share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · March 31, · December 31, | ||||||
| · · 2024 · · 2023 | ||||||
| · · (Unaudited) · · · | ||||||
| Assets · · | ||||||
| Cash and due from banks | | $8,073 | | $7,352 | ||
| Interest-bearing demand deposits | | 38,804 | | 33,418 | ||
| Cash and cash equivalents | | 46,877 | | 40,770 | ||
| Available-for-sale securities, amortized cost of $261,146 net of allowance of allowance for credit losses of $0 at March 31, 2024 and December 31, 2023 | | 251,807 | | 242,760 | ||
| Loans, net of allowance for credit losses of $3,870 and $3,918 at March 31, 2024 and December 31, 2023, respectively | | 476,437 | | 479,318 | ||
| Premises and equipment | | 18,115 | | 14,984 | ||
| Federal Home Loan Bank stock | | 3,979 | | 3,979 | ||
| Foreclosed assets held for sale, net | | 3,377 | | 3,377 | ||
| Core deposit other intangible asset | | 222 | | 260 | ||
| Goodwill | | | 682 | | | 682 |
| Accrued interest receivable | | 3,811 | | 4,098 | ||
| Deferred federal income tax | | 2,497 | | 2,409 | ||
| Bank-owned life insurance | | 19,537 | | 19,423 | ||
| Other assets | | | 6,686 | | | 7,389 |
| Total assets | | $834,027 | | $819,449 | ||
| Liabilities and Stockholders’ Equity | | | | | ||
| Liabilities | | | | | ||
| Deposits | | | | | ||
| Demand | | $333,606 | | $339,280 | ||
| Savings | | 128,810 | | 130,821 | ||
| Time | | 163,334 | | 151,358 | ||
| Total deposits | | 625,750 | | 621,459 | ||
| Securities sold under repurchase agreements | | 37,805 | | 26,781 | ||
| Subordinated debentures | | 23,802 | | 23,787 | ||
| Advances Federal Home Loan Bank | | | 75,000 | | | 75,000 |
| Lease liability – finance lease | | | 2,795 | | | 2,764 |
| Interest payable and other liabilities | | 5,669 | | 6,065 | ||
| Total liabilities | | 770,821 | | 755,856 | ||
| | | | | | | |
| Stockholders’ Equity | | | | |||
| Preferred stock, no par value, authorized 2,000,000 shares; no shares issued | | — | | — | ||
| Common stock, $1 par value; authorized 10,000,000 shares; issued 6,188,141 shares at March 31, 2024, and 6,063,851 shares at December 31, 2023; outstanding - 5,791,156 and 5,702,685 shares at March 31, 2024 and December 31, 2023, respectively | | 6,188 | | 6,064 | ||
| Additional paid-in capital | | 25,998 | | 25,913 | ||
| Retained earnings | | 44,073 | | 44,018 | ||
| Stock held by deferred compensation plan; 162,622 and 181,803 shares at March 31, 2024 and December 31, 2023, respectively | | (2,029) | | (2,363) | ||
| Accumulated other comprehensive loss | | (7,807) | | (7,478) | ||
| Treasury stock, at cost 234,363 and 179,363 shares at March 31, 2024 and December 31, 2023, respectively | | (3,217) | | (2,561) | ||
| Total stockholders’ equity | | 63,206 | | 63,593 | ||
| Total liabilities and stockholders’ equity | | $834,027 | | $819,449 | ||
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