UNITED BANCORP INC /OH/
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
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FY2024 · Filed Mar 14, 2025
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EX-13 · Available-for-sale Securities
Available-for-sale Securities
Where quoted market prices are available in an active market, securities are classified within Level 1 of the valuation hierarchy. If quoted market prices are not available, then fair values are estimated by using quoted prices of securities with similar characteristics or independent asset pricing services and pricing models, the inputs of which are market-based or independently sourced market parameters, including, but not limited to, yield curves, interest rates, volatilities, prepayments, defaults, cumulative loss projections and cash flows. Such securities are classified in Level 2 of the valuation hierarchy.
The following tables present the fair value measurements of assets recognized in the accompanying balance sheets measured at fair value on a recurring basis and the level within the fair value hierarchy in which the fair value measurements fall at December 31, 2024 and 2023:
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · December 31, 2024 | ||||||||||||
| · · · · · Fair Value Measurements Using | ||||||||||||
| · · · Quoted Prices in · Significant · · | ||||||||||||
| · · · · · Active Markets · · Other · · Significant | ||||||||||||
| · · · · · for Identical · · Observable · · Unobservable | ||||||||||||
| · · Fair · · Assets · · Inputs · · Inputs | ||||||||||||
| · · Value · · (Level 1) · · (Level 2) · · (Level 3) | ||||||||||||
| · · (In thousands) | ||||||||||||
| U.S government agencies | | $12,254 | | $— | | $12,254 | | $— | ||||
| Subordinated notes | | | 24,118 | | | — | | | 24,118 | | | — |
| State and municipal obligation | | | 204,259 | | — | | | 204,259 | | — | ||
| | | | | | | | | | | | | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| · · · · · December 31, 2023 | ||||||||||||
| · · · · · Fair Value Measurements Using | ||||||||||||
| · · · Quoted Prices in · Significant · · | ||||||||||||
| · · · · · Active Markets · · Other · · Significant | ||||||||||||
| · · · · · for Identical · · Observable · · Unobservable | ||||||||||||
| · · Fair · · Assets · · Inputs · · Inputs | ||||||||||||
| · · Value · · (Level 1) · · (Level 2) · · (Level 3) | ||||||||||||
| · · (In thousands) | ||||||||||||
| U.S government agencies | | $44,268 | | $— | | $44,268 | | $— | ||||
| Subordinated notes | | | 24,300 | | | — | | | 24,300 | | | — |
| State and municipal obligation | | | 174,192 | | — | | | 174,192 | | — | ||
Following is a description of the valuation methodologies used for instruments measured at fair value on a non-recurring basis and recognized in the accompanying balance sheets, as well as the general classification of such instruments pursuant to the valuation hierarchy.
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.