United Bancorp, Inc. (UBCP): History, Ownership, Mission, How It Works & Makes Money

With total assets climbing to $866.8 million as of September 30, 2025, how does a community bank like United Bancorp, Inc. (UBCP) continue to defintely deliver solid returns and grow its footprint in a competitive regional market?

The company's focus on disciplined interest expense control and loan repricing helped push its net interest margin (NIM) to 3.66% for the first nine months of 2025, a clear sign of operational strength that translated to a nine-month net income of $5,717,000.

This steady performance supports a strong shareholder return, highlighted by a recent dividend increase to $0.19 per share for the fourth quarter, which produces a forward yield of 5.4%.

If you're looking for the definitive breakdown of this 123-year-old institution's history, its traditional banking revenue engine, and the strategic investments that are driving its next phase of growth, this analysis is for you.

United Bancorp, Inc. (UBCP) History

You're looking for the foundational story behind United Bancorp, Inc., and honestly, understanding its roots is key to grasping its community-focused strategy today. The company's history is a classic example of a community bank successfully consolidating to achieve scale while keeping its local identity. It's a story that starts in the early 20th century, but the modern holding company structure-the one that trades as UBCP-is a product of the mid-1980s.

The core takeaway is this: United Bancorp, Inc. evolved from a single-county bank into a regional financial holding company by strategically acquiring local institutions, a model that has helped it reach total assets of nearly $866.8 million as of September 30, 2025. That kind of steady, deliberate growth is what we look for in the regional banking sector.

United Bancorp, Inc.'s Founding Timeline

Year established

The institutional lineage dates back to 1902 with the founding of The Citizens National Bank of Flushing. The current corporate entity, United Bancorp, Inc., was officially established as a bank holding company on July 8, 1983. We focus on 1983 for the corporate structure that exists today.

Original location

The original bank was established in Flushing, Ohio. The holding company, United Bancorp, Inc., is headquartered in Martins Ferry, Ohio, which is the operational hub today.

Founding team members

The specific individuals who founded The Citizens National Bank of Flushing in 1902 are part of local historical records. The 1983 formation of United Bancorp, Inc. was a strategic move by the existing leadership teams of the consolidating banks. While the specific 1983 holding company founders aren't explicitly named, the strategic direction is now led by executives like Chairman, President, and CEO Scott A. Everson.

Initial capital/funding

The initial capital for the 1902 bank is deeply historical. The formation of the holding company in 1983 was primarily capitalized through the consolidation of the existing assets and equity of the acquired banks, including The Citizens National Bank of Flushing and The First National Bank of St. Clairsville. It was a balance sheet restructuring more than a fresh capital raise.

United Bancorp, Inc.'s Evolution Milestones

United Bancorp, Inc.'s Transformative Moments

The most recent transformative moments for United Bancorp, Inc. aren't a single acquisition; they're a deliberate, multi-front investment in infrastructure and strategic capabilities. This is how a regional bank prepares to compete in a digital world.

For the fiscal year 2025, the focus has been on scaling operations and enhancing service delivery, which is defintely a smart move to drive future earnings. Here's the quick math on performance: for the first nine months of 2025, the company reported net income of $5,717,000 and diluted earnings per share of $0.99, both showing modest increases over the prior year, even while absorbing significant non-interest expenses from these projects.

• Infrastructure Investment: The company is building a new Wheeling Banking Center and acquired a property in St. Clairsville to create the Unified Center, which will house key back-office functions like Accounting and IT.
• Strategic Program Expansion: They've committed capital to developing and scaling out the Unified Mortgage Division and a new Treasury Management Program. This diversifies revenue beyond traditional commercial and retail banking.
• Digital Transformation: A material investment in new technology is underway, which is crucial for improving efficiency and customer experience against larger national banks.
• Shareholder Commitment: The Board of Directors declared a fourth-quarter cash dividend of $0.19 per share on November 19, 2025, bringing the total cash dividends paid year-to-date, including a special dividend, to $0.92 per share. This demonstrates confidence in the earnings power of the Unified Bank subsidiary.

What this estimate hides is the long-term return on these infrastructure and technology investments, which should start showing up as improved operating leverage in late 2026. If you want a deeper dive into the principles guiding these decisions, you should review the Mission Statement, Vision, & Core Values of United Bancorp, Inc. (UBCP).

United Bancorp, Inc. (UBCP) Ownership Structure

United Bancorp, Inc. (UBCP) operates with a hybrid ownership model, where a significant portion of the company is closely held by insiders, yet it remains a publicly-traded entity. This structure means strategic decisions are heavily influenced by the management and board, while still being subject to the transparency and regulatory oversight of a public listing.

Given Company's Current Status

The company is a publicly-traded bank holding company, headquartered in Martins Ferry, Ohio, and is listed on the NASDAQ Capital Market under the ticker symbol UBCP. As of November 2025, United Bancorp, Inc. reported total assets of a defintely solid $866.8 million and total shareholder's equity of $66.5 million as of September 30, 2025. This public status subjects it to Federal Reserve supervision and SEC disclosure requirements, giving you clear visibility into its financial health and governance.

Given Company's Ownership Breakdown

The ownership is notably concentrated, with insiders holding nearly as much equity as institutional funds, leaving a large majority for retail and other public investors. This suggests a management team whose personal wealth is tightly linked to the stock's performance, which is a key alignment metric to watch. Here's the quick math on who controls the shares, based on November 2025 data:

For a deeper dive into which major funds are buying or selling, you should check out Exploring United Bancorp, Inc. (UBCP) Investor Profile: Who's Buying and Why?

Given Company's Leadership

The company's strategy is steered by a seasoned management group with long average tenures, which suggests stability but also a need to monitor for potential stagnation. The average tenure for the management team is about 11.5 years. This is a deeply experienced bench.

• Scott A. Everson: Chairman, President, and Chief Executive Officer (CEO). He holds the top three roles, consolidating strategic and operational control, and directly owns 2.44% of the company's shares.
• Randall M. Greenwood: Senior Vice President, Chief Financial Officer (CFO), and Treasurer. He directs the financial functions, including regulatory reporting and asset/liability management.
• Matthew F. Branstetter: Senior Vice President and Chief Operating Officer (COO). He oversees the operational side, including directing the lending portfolio (commercial, residential, and installment loan programs).

The concentration of power in the CEO, who is also the Chairman, means that the board's independent directors carry a heavy responsibility to ensure robust corporate governance and challenge management effectively.

United Bancorp, Inc. (UBCP) Mission and Values

You need to know what drives a bank beyond the quarterly earnings report, and for United Bancorp, Inc. (UBCP), it's a clear, decades-long commitment to independence and community service. Their mission and core values are the cultural DNA, dictating everything from their technology investment-like the new AI solution-to how they structure their $0.19 per share Q4 2025 cash dividend.

The company's core purpose is about earning respect from four key groups: shareholders, customers, communities, and team members. They execute this through a community banking model, which is why their total assets reached $866.8 million as of September 30, 2025, and their total shareholders' equity stood at $66.5 million.

Given Company's Core Purpose

Official mission statement

The mission of United Bancorp, Inc. is a multi-faceted commitment, focusing on sustaining profitability while remaining an independent, publicly traded bank holding company. This isn't just a boilerplate; it's a strategic directive to manage technological change and expand beyond the typical brick-and-mortar framework, but only when economically feasible.

• Earn shareholder respect through continued growth in shareholder value and sustaining profitability.
• Reach out to customers with the technology they want and the financial products they need.
• Support civic activities to make communities better places to live and work.
• Offer team members training, development, and career growth opportunities.
• Remain independent by managing technological change to gain efficiencies and expand boundaries.

Vision statement

The vision is straightforward: be the foremost independent community bank within its geographical footprint. This means they are defintely not chasing national scale; they are focused on dominating their local markets across Ohio and West Virginia.

• Be the foremost independent community bank in their markets.
• Pursue prudent, sustainable growth while maintaining robust financial health.
• Be the recognized go-to financial institution for personal and business banking needs.

This focus is why their year-to-date diluted earnings per share (EPS) through the first nine months of 2025 hit $0.99, up from prior periods, showing that local focus can deliver real returns.

Given Company slogan/tagline

While an external slogan isn't publicly emphasized, the company's current operational focus is the 'Unified Experience.' They are centralizing their service function and integrating an artificial intelligence (AI) solution to deliver this.

• Focus on delivering a complete and satisfying 'Unified Experience' to customers.
• Centralize customer support with highly skilled team members.
• Use AI to more effectively and efficiently respond to customer inquiries.

Here's the quick math: their investment in digital transformation is working, with noninterest bearing demand balances-the cheapest source of funds-increasing by 8.5% to $156.3 million year-over-year as of September 30, 2025. This shows their strategy is attracting and retaining core deposits.

For a deeper dive into how these principles translate into strategy, you should read Mission Statement, Vision, & Core Values of United Bancorp, Inc. (UBCP).

United Bancorp, Inc. (UBCP) How It Works

United Bancorp, Inc. (UBCP) operates as the holding company for its single bank charter, Unified Bank, generating value by transforming local deposits into a diversified portfolio of commercial, real estate, and consumer loans within its regional footprint. The core of their business is classic community banking, but they are actively investing in digital and specialized services like Unified Mortgage and Treasury Management to capture higher-margin fee income and expand their asset base toward a $1 billion target.

United Bancorp, Inc.'s Product/Service Portfolio

United Bancorp, Inc.'s Operational Framework

The company's operational framework is built on a hybrid model that balances a physical community presence with strategic digital transformation, creating a localized, relationship-driven service. They operate through 18 banking centers across seven Ohio counties and Marshall County in West Virginia.

• Net Interest Income Generation: The primary revenue driver is the net interest margin (NIM)-the difference between interest earned on assets (loans) and interest paid on liabilities (deposits). The NIM was reported at 3.65% in Q2 2025, a key indicator of efficient capital deployment.
• Strategic Infrastructure Investment: Management is undertaking transformative projects to centralize and modernize operations. This includes the construction of a new Wheeling Banking Center and the acquisition of property for the Unified Center, which will consolidate Accounting, Information Technology, and Customer Sales and Service functions.
• Digital and Product Scaling: The company is actively investing in new technology and scaling out its Unified Mortgage and Treasury Management Programs to diversify revenue away from traditional lending and capture higher-margin, noninterest income.

Here's the quick math: For the first nine months of 2025, United Bancorp, Inc. produced net income of $5,717,000, an increase of 3.0% over the prior year, showing that these investments are defintely starting to pay off. You can dive deeper into the metrics here: Breaking Down United Bancorp, Inc. (UBCP) Financial Health: Key Insights for Investors

United Bancorp, Inc.'s Strategic Advantages

United Bancorp, Inc.'s market success hinges on its deep community roots and a conservative, disciplined approach to risk management, which is crucial in the volatile regional banking sector.

• Exceptional Credit Quality: Their conservative lending practices translate directly into superior credit quality. As of Q2 2025, nonperforming assets were remarkably low at just 0.60% of total assets, significantly bolstering investor confidence and minimizing loss provisions.
• Geographic Concentration and Local Expertise: Operating in a concentrated area allows for specialized knowledge of local economic drivers, like federal infrastructure spending, which helps mitigate the risks associated with a limited geographic footprint.
• Favorable Valuation Metrics: The market price to tangible book value was 127% as of September 30, 2025, which favorably compares to current industry standards, suggesting the market recognizes the value of their stable asset base and growth strategy.
• Shareholder-Focused Capital Return: The company has a strong history of returning capital, increasing its fourth quarter cash dividend payment to $0.19 per share in November 2025, which produces a forward yield of 5.4%.

United Bancorp, Inc. (UBCP) How It Makes Money

United Bancorp, Inc., the holding company for Unified Bank, primarily generates revenue by leveraging the spread between the interest it earns on loans and investments and the interest it pays on customer deposits, a core banking function known as net interest income (NII). The bank also earns significant fee-based income from services like mortgage loan origination, Treasury Management, and various customer service charges.

The business model is straightforward: attract low-cost deposits, lend that capital out at higher rates, and collect fees for financial services. This is a classic community banking engine, but its near-term financial health is defined by the efficiency of that spread and the growth of its fee-based services.

United Bancorp, Inc. (UBCP) Revenue Breakdown

As of the third quarter of 2025, United Bancorp's revenue mix clearly favors traditional lending activities, but noninterest income is growing quickly and diversifying the earnings base. Here's the quick math on the third quarter's approximate revenue split, which totaled $8.08 million.

Net Interest Income (NII) remains the dominant stream, increasing by 9.6% year-over-year in Q3 2025. Noninterest Income, while a smaller piece, is a key growth area, with the first quarter of 2025 seeing a massive 47.9% year-over-year increase, driven by Unified Mortgage loan sales and scaling fee initiatives. Diversification is defintely a good thing in this environment.

Business Economics

The profitability of United Bancorp hinges on its ability to manage its net interest margin (NIM) and control noninterest expenses while expanding its asset base. The bank operates as a regional bank, primarily serving Ohio and parts of West Virginia, which keeps its focus community-centric.

• Net Interest Margin (NIM) Expansion: The NIM reached 3.66% in Q3 2025, an expansion of 16 basis points (bps) year-over-year. This widening spread is the most critical metric, driven by loan repricing and reinvesting securities at higher yields, such as municipal securities yielding around 6.1% (tax equivalent yield).
• Funding Cost Management: The bank's deposit mix is crucial. Noninterest-bearing demand balances-essentially free capital-grew by 8.5% year-over-year to $156.3 million as of September 30, 2025. This growth helps offset the rising cost of other interest-bearing deposits, supporting the NIM expansion.
• Fee Income Drivers: The push into Treasury Management services, which helps small business customers with cash management and merchant services, is a strategic move designed to generate higher fee income and simultaneously grow the low-cost deposit base.

The entire model is sensitive to Federal Reserve policy; continued rate cuts, as anticipated by some, would likely reduce the bank's funding costs and further boost NII, but a prolonged high-rate environment could increase competition for deposits.

United Bancorp, Inc. (UBCP) Financial Performance

The nine-month performance for 2025 shows a solid, albeit modest, increase in profitability, reflecting the successful execution of margin-focused strategies and fee-based growth. You can see the full context of these numbers in Breaking Down United Bancorp, Inc. (UBCP) Financial Health: Key Insights for Investors.

• Net Income and EPS: For the first nine months of 2025, net income was $5,717,000, an increase of 3.0% year-over-year. Diluted earnings per share (EPS) for the same period was $0.99, up 4.2% from the previous year.
• Balance Sheet Growth: Total assets grew by 5.0% year-over-year to $866.8 million as of September 30, 2025. This growth was primarily driven by gross loans, which reached $496.5 million.
• Shareholder Value: The company's dividend policy is a clear focus for management. Total cash dividends paid in the first nine months of 2025 amounted to $0.73 per share, an 8.2% increase over the prior year, resulting in a near-industry leading total dividend yield of approximately 6.6% at the end of Q3 2025.
• Valuation Signal: The stock is currently trading at a compelling valuation for patient investors, approximately 8 times forward earnings, which is significantly below its peer group and suggests potential undervaluation.

The core takeaway is that the bank is effectively managing its cost of funds and expanding its margin, translating asset growth into bottom-line earnings and strong shareholder returns via dividends.

United Bancorp, Inc. (UBCP) Market Position & Future Outlook

United Bancorp, Inc. (UBCP) maintains a solid, if micro-cap, position within its specific Ohio and West Virginia regional market, driven by its community focus and strategic investments that are already translating into earnings growth. As of September 30, 2025, the company reported net income of $5,717,000 and diluted earnings per share of $0.99 for the first nine months, demonstrating a clear upward trajectory in performance despite a challenging economic environment.

The company's future outlook is tied to successfully executing its digital and geographic expansion initiatives, which aim to push its total assets beyond the current $866.8 million level and toward the $1 billion mark. This growth is defintely critical for maintaining a competitive edge against larger regional players who are actively consolidating.

Competitive Landscape

United Bancorp, Inc. operates in a highly fragmented regional banking sector, competing directly with much larger institutions, especially in terms of total assets. While its true market share is concentrated and dominant in its core counties, its overall presence in the broader regional bank industry is micro-cap, as illustrated by its asset size relative to peers.

Opportunities & Challenges

The company's near-term strategy focuses on expanding its fee-based income and optimizing its physical and digital footprint. This dual focus creates clear opportunities for revenue diversification but also introduces risks related to execution and capital expenditure.

Industry Position

United Bancorp, Inc. is positioned as a well-capitalized, high-dividend-yield micro-cap bank, which sets it apart from many larger, less-nimble competitors. Its focus is on core banking strength and shareholder return. You can learn more about its core identity here: Mission Statement, Vision, & Core Values of United Bancorp, Inc. (UBCP).

• The company's market price to tangible book value was 127% as of September 30, 2025, which is a favorable metric compared to current industry standards, suggesting the market values its tangible assets well.
• Credit quality remains robust, with nonperforming assets at a low 0.60% of total assets as of Q2 2025, indicating prudent lending practices.
• Shareholder returns are a priority, evidenced by the total $0.92 in cash dividends paid year-to-date in 2025 (including a special dividend), representing a 7.6% increase over the prior year.
• The primary goal is to grow the asset base toward $1 billion, moving the company to a more visible tier in the regional banking space.