United Bancorp Reports $1,401,000 Net Income for Third Quarter of 2026
United Bancorp reported third-quarter net income of $1,401,000 and diluted earnings per share of $0.25, while a commercial-credit charge-off affected results.
United Bancorp, Inc. (NASDAQ:UBCP) reported net income of $1,401,000 and diluted earnings per share of $0.25 for the three months ended September 30, 2026. The company said both measures were lower than the corresponding figures from the previous year and the preceding quarter after a one-time commercial-credit event.
#Third-quarter results affected by credit charge-off
United Bancorp recorded a $2,953,000 charge-off connected to a commercial credit extended to a single borrower during the third quarter. The charge contributed to provision for credit loss expense of $2,421,000, which the company said was an increase of $2,235,000 from the same period a year earlier.
For the first nine months of 2026, the company reported net income of $5,407,000 and diluted earnings per share of $0.94. Management said both nine-month measures were below the levels reported for the same period of the previous year.
United Bancorp said third-quarter Pre-Provision Net Revenue (PPNR), described as a non-GAAP measure comprising net interest income and noninterest income less noninterest expense, was $3,490,000 on a more “normalized” basis that excluded the one-time event. The figure included a $560,000 net realized gain on the sale of available securities and was $1,393,000 higher than the PPNR recorded in the third quarter of the previous year.
For the nine months ended September 30, 2026, United Bancorp reported that total assets gross of accumulated other comprehensive loss increased by $47.8 million, or 5.5 %, year over year to $923.2 million. This is a gross asset measure identified separately by the company from its reported total assets of $899.3 million at September 30, 2026; the source does not provide a reconciliation between the two figures.
Within the gross asset measure, gross loans rose by $7.3 million to $503.9 million, bank owned life insurance increased by $18.7 million to $38.9 million, and cash and amounts due from the Federal Reserve Bank increased by $24.7 million to $70.2 million.
Total deposits increased by $77.3 million, or 12.0%, year over year to $722.5 million. Noninterest-bearing demand, interest-bearing demand and savings balances rose by $55.8 million, or 12.2%, to $511.9 million, while time deposits increased by $21.5 million, or 11.4%, to $210.6 million.
Despite the increase in deposits, United Bancorp said total interest expense decreased by ($605,000), or (5.4%), as of September 30, 2026. Interest expense to average assets declined by seventeen basis points (17bps) year over year to 1.63%. The company attributed the change to growth in lower-cost deposits, repricing of core deposits and the maturity of a $20.0 million Federal Home Loan Bank (FHLB) Advance carrying a rate of 4.39%.
For the first nine months of 2026, net interest income increased by $942,000, or 4.8%, year over year. Net interest margin rose by eighteen basis points (18bps) to 3.84%.
Management said it anticipates that net interest income and net interest margin will continue to increase over the remainder of 2026. That statement was linked to stronger demand for loan products and the company’s expectation that funds held in lower-yielding overnight investments will be redeployed into higher-yielding loan products in the upcoming quarter.
At September 30, 2026, nonaccrual loans and loans past due thirty-plus days totalled $2.9 million, or 0.57% of gross loans. United Bancorp said this was $266,000 lower than a year earlier and $4.0 million, or 58.0%, below the linked-quarter level of $6.9 million.
Loans past due thirty plus days stood at $736,000, or 0.15% of gross loans. The company said the charge-off involved a single borrowing relationship and was not indicative of the overall quality of its loan portfolio.
United Bancorp reported regulatory capital of $76.0 million, or 8.7% of average assets, and described itself as well capitalised by regulatory standards. The company defines regulatory capital in the statement as stockholders’ equity plus accumulated other comprehensive loss.
Management said the banking centre opened in Wheeling, West Virginia, on December 9, 2025, contributed to deposit growth during its first nine months of operation. The company also cited its Unified Mortgage Division and Treasury Management function as contributors to noninterest income and lower-cost deposit growth.
United Bancorp said it is developing an artificial intelligence solution and implementing an omnichannel account-opening system covering online, mobile and in-branch platforms. The systems are planned for the Unified Center in St. Clairsville, Ohio, alongside the Unified Care Center.
The company said it anticipates beginning the rollout of these technology and customer-support functions by the end of the first quarter of 2027. Management also said the related infrastructure spending has a dilutive impact on short-term earnings.
United Bancorp said it paid a regular cash dividend of $0.1975 in the third quarter, an increase of $0.01, or 5.3%, from the regular dividend paid in the third quarter of the previous year. Year to date, it reported total cash dividends of $0.7600, including a special cash dividend of $0.1750 paid in the first quarter.
As of September 30, 2026, the company reported total shareholders’ equity of $52.1 million. Through Unified Bank, its single bank charter, United Bancorp operates nineteen banking centers serving counties in Ohio and West Virginia. Its shares trade on the NASDAQ Capital Market under the symbol UBCP.
Third-quarter net income was $1,401,000, with diluted earnings per share of $0.25.
A $2,953,000 commercial-credit charge-off contributed to $2,421,000 of provision for credit loss expense.
Nine-month net income was $5,407,000, while net interest income increased by $942,000, or 4.8%, year over year.
Total deposits rose to $722.5 million, while the company separately reported gross assets of $923.2 million and total assets of $899.3 million at September 30, 2026.
United Bancorp said technology and customer-support functions are expected to begin rolling out by the end of the first quarter of 2027.
United Bancorp, Inc. reported third-quarter diluted earnings per share of $0.25 and net income of $1,401,000 for the three months ended September 30, 2026. For the first nine months of 2026, it reported diluted earnings per share of $0.94 and net income of $5,407,000.
United Bancorp, Inc. announced the results on November 5, 2026. The reported periods were the three and nine months ended September 30, 2026.
United Bancorp, Inc. said a one-time commercial credit charge-off to a single borrower caused a $2,953,000 charge-off and contributed to quarterly provision for credit loss expense of $2,421,000. The company said this provision was an increase of $2,235,000 year over year and directly led to the quarter's under-performance.
United Bancorp, Inc. said its third-quarter Pre-Provision Net Revenue, excluding the one-time event, was $3,490,000, including a net realised gain on the sale of available securities of $560,000. The company described PPNR as a non-GAAP measure consisting of net interest income and noninterest income less noninterest expense, and said the figure increased by $1,393,000 from the third quarter of the previous year.
United Bancorp, Inc. said total assets gross of accumulated other comprehensive loss increased year over year by $47.8 million, or 5.5 %, to $923.2 million as of September 30, 2026. The increases included gross loans of $7.3 million to $503.9 million, bank owned life insurance of $18.7 million to $38.9 million, and cash and due from Federal Reserve Bank of $24.7 million to $70.2 million.
United Bancorp, Inc. said total deposits increased year over year by $77.3 million, or 12.0%, to $722.5 million, with lower-cost funding rising by $55.8 million, or 12.2%, to $511.9 million. Despite the higher deposit balance, total interest expense decreased by ($605,000), or (5.4%), while interest expense to average assets fell by seventeen basis points (17bps) to 1.63%; the company attributed this to lower-cost deposits, core deposit repricing and the maturity of a $20.0 million Federal Home Loan Bank (FHLB) Advance carrying a rate of 4.39%.
For the first nine months of 2026, United Bancorp, Inc. said net interest income increased by $942,000, or 4.8%, year over year, while net interest margin increased by eighteen basis points (18bps) to 3.84%. The company attributed the changes to higher interest-earning assets, loan repricing at higher rates, increased total interest income and lower total interest expense.
United Bancorp, Inc. said nonaccrual loans and loans past due thirty-plus days totalled $2.9 million, or 0.57% of gross loans, at September 30, 2026. This was a year-over-year decrease of $266,000 and a sequential decrease of $4.0 million, or 58.0%, while loans past due thirty plus days were $736,000, or 0.15% of gross loans; the company said the single commercial borrowing relationship was not indicative of its overall loan portfolio quality.
United Bancorp, Inc. said it remained well capitalised by regulatory standards, with regulatory capital of $76.0 million, or 8.7% of average assets, at September 30, 2026. The company defines regulatory capital in this statement as stockholders' equity plus accumulated other comprehensive loss.
United Bancorp, Inc. said its newer Wheeling, West Virginia banking centre contributed to deposit growth, while its Unified Mortgage Division contributed to fee income. The company also said Treasury Management generated fee income and supported low- or no-cost deposits, and that investment in technology, online and mobile platforms and infrastructure was intended to support customer relationships and revenue-generating opportunities.
United Bancorp, Inc. said it is developing an artificial intelligence solution and implementing an omnichannel account-opening system for online, mobile and in-branch platforms. The systems are to be housed at the Unified Center in St. Clairsville, Ohio, alongside the Unified Care Center, with the company anticipating that the new technology and support functions will begin rolling out by the end of the first quarter of 2027.
United Bancorp, Inc. said it anticipates that the increasing trends in net interest income and net interest margin will continue over the remainder of 2026. The company cited stronger demand for loan products and its anticipation of redeploying funds from lower-yielding overnight investments into higher-yielding loan products in the upcoming quarter.
United Bancorp, Inc. said it believes the full potential of its infrastructure and growth investments will be seen over the next twelve to twenty-four months. The company also said it anticipates a solid return on these investments within the next twelve to twenty-four months, while acknowledging that the expenditures have a dilutive impact on short-term earnings.
United Bancorp, Inc. said it paid a regular cash dividend of $0.1975 in the third quarter of 2026, an increase of $0.01, or 5.3%, from the regular dividend paid in the third quarter of the previous year. Year to date, the company said it had paid total cash dividends of $0.7600, including a special cash dividend of $0.1750 paid in the first quarter.
United Bancorp, Inc. trades on the NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP. The statement also gives Cusip #909911109.