UNITED BANCORP INC /OH/
For the period ended Dec 31, 2024. Filed Mar 14, 2025.
View on SEC.govAbout this filing
A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2024 · Filed Mar 14, 2025
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
EX-13 · Employee Stock Ownership and 401(k) Plans
Employee Stock Ownership and 401(k) Plans
The Company has an Employee Stock Ownership Plan (“ESOP”) with an integrated 401(k) plan covering substantially all employees of the Company. The Company’s 401(k) matching percentage was 50% of the employees’ first 6% of contributions for 2024 and 2023.
The Company’s 401(k) expense for the years ended December 31, 2024 and 2023 was approximately $156,000 and $142,000, respectively.
Share information for the ESOP is as follows at December 31, 2024 and 2023:
| | | | | | | |
|---|---|---|---|---|---|---|
| · 2024 · 2023 | ||||||
| Allocated shares at beginning of the year | | | 377,870 | | | 384,404 |
| Net shares or dividend reinvestment or distributed due to retirement/diversification | | 16,413 | | (6,534) | ||
| | | | | | ||
| Total ESOP shares | | 394,283 | | 377,870 | ||
| | | | | | ||
| Fair value of unearned shares at December 31st | | $— | | $— | ||
| | |
| 60 | |
At December 31, 2024, the fair value of the 394,283 the shares held by the ESOP was approximately $5,126,000. There wereno unearned ESOP shares as of December 31, 2024 and 2023.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.