UNITED BANCORP INC OH
For the period ended Sep 30, 2024. Filed Nov 13, 2024.
View on SEC.govAbout this filing
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.
Sep 30, 2024 · Filed Nov 13, 2024
UBCP$14.05-3.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Condensed Consolidated Statements of Cash Flows
Nine Months Ended September 30, 2024 and 2023
(In thousands except per share data)
| | | | | | | |
|---|---|---|---|---|---|---|
| · · Nine months ended | ||||||
| · · September 30, | ||||||
| | 2024 | 2023 | ||||
| Operating Activities | | | | | | |
| Net income | | $5,553 | | $6,560 | ||
| Items not requiring (providing) cash | | | | | | |
| Accretion of premiums and discounts on securities, net | | | 329 | | | 271 |
| Amortization of intangible asset | | | 100 | | | 113 |
| Depreciation and amortization | | 802 | | 744 | ||
| Expense related to share based compensation plans | | 721 | | | 586 | |
| Provision for (reversal of) credit loss expense and unfunded commitments | | | 174 | | | (300) |
| Increase in value of bank-owned life insurance | | | (327) | | | (320) |
| Gain on sale of loans | | | (363) | | | (8) |
| Proceeds from sale of loans held for sale | | | 11,700 | | | 396 |
| Originations of loans held for sale | | | (11,337) | | | (404) |
| Loss on sale of available-for-sale securities | | | 116 | | | — |
| Loss on sale or write down of foreclosed assets | | | 7 | | | 62 |
| Amortization of debt instrument costs | | 45 | | 46 | ||
| Net change in accrued interest receivable and other assets | | | (579) | | | (1,227) |
| Net change in accrued expenses and other liabilities | | 422 | | 229 | ||
| | | | | | | |
| Net cash provided by operating activities | | 7,363 | | | 6,748 | |
| | | | | | | |
| Investing Activities | | | | | | |
| Securities available for sale: | | | | | | |
| Maturities, prepayments and calls | | | 10,040 | | | 2,275 |
| Sales | | | 27,431 | | | — |
| Purchases | | | (44,911) | | | (19,329) |
| Net change in loans | | | 8,452 | | | (5,524) |
| Purchase of FHLB stock | | | (47) | | | (3,149) |
| Redemption of Federal Home Loan Bank Stock | | | — | | | 1,669 |
| Purchases of premises and equipment | | | (10,210) | | | (952) |
| Proceeds from sale of foreclosed and fixed assets | | | 42 | | | 16 |
| | | | | | | |
| Net cash provided by (used in) investing activities | | | (9,203) | | | (24,994) |
| | | | | | | |
| Financing Activities | | | | | | |
| Net change in deposits | | | (5,640) | | | (21,901) |
| Net change in securities sold under repurchase agreements | | 9,342 | | 10,478 | ||
| Proceeds from Federal Home Loan Bank advances | | | — | | | 75,000 |
| Repurchase of common stock | | | (687) | | | (733) |
| Finance lease payments | | | (127) | | | — |
| Cash dividends paid on common stock | | | (4,040) | | | (3,786) |
| Net (used in) cash provided by financing activities | | (1,152) | | | 59,058 | |
| | | | | | | |
| Increase (Decrease) in Cash and Cash Equivalents | | (2,992) | | | 40,812 | |
| Cash and Cash Equivalents, Beginning of Period | | | 40,770 | | | 30,080 |
| | | | | | | |
| Cash and Cash Equivalents, End of Period | | $37,778 | | $70,892 | ||
| | | | | | | |
| Supplemental Cash Flows Information | | | | | | |
| Interest paid on deposits and borrowings | | $10,979 | | $7,604 | ||
| | | | | | | |
| Federal income taxes paid | | $— | | $— | ||
| | | | | | | |
| Supplemental Disclosure of Non-Cash Investing and Financing Activities | | | | | ||
| Transfers from loans to foreclosed assets held for sale | | $53 | | $13 | ||
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.