United Bancorp, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
July 31, 2023 at 02:32 pm EDT
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United Bancorp, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported net interest income was USD 6.34 million compared to USD 5.97 million a year ago. Net income was USD 2.28 million compared to USD 2.3 million a year ago. Basic earnings per share from continuing operations was USD 0.4 compared to USD 0.4 a year ago. Diluted earnings per share from continuing operations was USD 0.4 compared to USD 0.4 a year ago.
For the six months, net interest income was USD 12.77 million compared to USD 11.48 million a year ago. Net income was USD 4.17 million compared to USD 4.05 million a year ago. Basic earnings per share from continuing operations was USD 0.73 compared to USD 0.7 a year ago. Diluted earnings per share from continuing operations was USD 0.73 compared to USD 0.7 a year ago.
United Bancorp, Inc. is a bank holding company. The Company has one wholly owned subsidiary bank, Unified Bank, Martins Ferry, Ohio (the Bank). The Bank serves customers in northeastern, eastern, southeastern and south-central Ohio and the Northern panhandle of West Virginia and is engaged in the business of commercial and retail banking in Belmont, Harrison, Jefferson, Tuscarawas, Carroll, Athens, Hocking, and Fairfield counties and the surrounding localities. The bank also operates in Marshall County West Virginia. The Bank provides a range of banking and financial services, which includes accepting demand, savings and time deposits and granting commercial, real estate and consumer loans. The Bank's loan portfolio includes commercial loans, commercial real estate loans, residential real estate loans and installment loans. The Bank conducts its business through its main office and standalone operations center in Martins Ferry, Ohio and about 18 branches located in the counties.