Net interest income has demonstrated a recovery trend, rising from $6.0 million in 2024Q1 to $6.5 million by 2026Q1, while maintaining an efficiency ratio between 49.5% and 53.8%.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Net Interest Income | 26.45M | 26.2M | 24.42M | 25.58M | 24.25M | 22.03M | 22.8M | 20.7M | 17.89M | 15.68M | 14.68M | 13.59M | 13.72M | 13.77M | 14.37M | 15.29M | 14.97M | 15.05M | 15.16M | 12.09M | 12.44M | 13.04M | 12.97M | 12.88M | 12.77M | 12.25M | 11.4M | 11.8M | 11.5M | 11.4M | 10.7M |
| NII Growth % | 30.99% | 7.29% | -4.55% | 5.49% | 10.07% | -3.35% | 10.12% | 15.69% | 14.13% | 6.83% | 8.02% | -0.98% | -0.38% | -4.15% | -6.01% | 2.09% | -0.5% | -0.76% | 25.49% | -2.87% | -4.55% | 0.51% | 0.66% | 0.91% | 4.24% | 7.46% | -3.41% | 2.61% | 0.88% | 6.54% | 37.18% |
| Net Interest Margin % | 3.08% | 3.06% | 2.99% | 3.12% | 3.2% | 3.04% | 3.29% | 3.02% | 3.02% | 3.41% | 3.35% | 3.35% | 3.41% | 3.54% | 3.28% | 3.68% | 3.54% | 3.37% | 3.43% | 2.68% | 2.95% | 3.16% | 3.26% | 3.34% | 3.53% | 3.59% | 3.52% | 3.95% | 4.03% | 4.32% | 5.29% |
| Interest Income | 41.39M | 41.21M | 39.14M | 36.59M | 27.52M | 24.63M | 27.53M | 26.82M | 21.07M | 17.44M | 16.46M | 15.87M | 16.19M | 16.81M | 18.23M | 19.99M | 21.45M | 23.11M | 25.42M | 26.6M | 25.28M | 22.18M | 20.51M | 20.72M | 22.1M | 24.6M | 23.73M | 21.6M | 21.2M | 20.8M | 19.6M |
| Interest Expense | 14.94M | 15.02M | 14.72M | 11.01M | 3.27M | 2.6M | 4.73M | 6.12M | 3.18M | 1.76M | 1.78M | 2.28M | 2.47M | 3.03M | 3.86M | 4.71M | 6.48M | 8.06M | 10.25M | 14.52M | 12.84M | 9.15M | 7.54M | 7.84M | 9.33M | 12.35M | 12.34M | 9.8M | 9.7M | 9.4M | 8.9M |
| Loan Loss Provision | 608.53K | 488.53K | 299K | -454K | -955K | -1.25M | 3.34M | 908K | 297K | 100K | 301K | 553K | 888K | 1.24M | 1.13M | 1.97M | 1.82M | 1.32M | 1.19M | 993K | 1.38M | 412K | 618K | 539.54K | 630K | 780K | 587K | 700K | 800K | 900K | 1.2M |
| Non-Interest Income | 6.43M | 6.28M | 4.84M | 4.31M | 4.22M | 5.79M | 7.01M | 4.1M | 3.88M | 3.66M | 3.86M | 4M | 3.89M | 4.42M | 3.17M | 3.73M | 3.53M | 3.54M | 3.37M | 3.08M | 2.3M | 2.34M | 2.2M | 2.61M | 2.06M | 1.61M | 1.37M | 1.3M | 1.6M | 1.3M | 1.2M |
| Non-Interest Income % | 13.45% | 13.23% | 11.01% | 10.53% | 13.3% | 19.03% | 20.31% | 13.26% | 15.56% | 17.35% | 18.98% | 20.14% | 19.36% | 20.82% | 14.81% | 15.72% | 14.13% | 13.27% | 11.69% | 10.37% | 8.33% | 9.55% | 9.68% | 11.19% | 8.52% | 6.13% | 5.45% | 5.68% | 7.02% | 5.88% | 5.77% |
| Total Revenue | 47.82M | 47.5M | 43.98M | 40.9M | 31.74M | 30.41M | 34.54M | 30.92M | 24.95M | 21.1M | 20.32M | 19.87M | 20.07M | 21.22M | 21.4M | 23.72M | 24.98M | 26.65M | 28.78M | 29.68M | 27.58M | 24.52M | 22.71M | 23.33M | 24.15M | 26.2M | 25.1M | 22.9M | 22.8M | 22.1M | 20.8M |
| Revenue Growth % | 28.69% | 7.99% | 7.53% | 28.85% | 4.37% | -11.95% | 11.71% | 23.92% | 18.24% | 3.87% | 2.23% | -1.01% | -5.41% | -0.82% | -9.8% | -5.05% | -6.25% | -7.41% | -3.03% | 7.64% | 12.45% | 8% | -2.68% | -3.41% | -7.81% | 4.38% | 9.62% | 0.44% | 3.17% | 6.25% | 35.95% |
| Non-Interest Expense | 24.71M | 23.72M | 21.67M | 20.85M | 19.89M | 18.39M | 17.89M | 16.48M | 16.4M | 13.65M | 13.07M | 12.48M | 13.15M | 13.98M | 13.47M | 13.1M | 13.92M | 13.84M | 12.63M | 11.25M | 11.05M | 10.76M | 10.45M | 10.42M | 9.99M | 9.38M | 8.71M | 8.2M | 8M | 8M | 7.3M |
| Efficiency Ratio | 51.66% | 49.95% | 49.26% | 50.98% | 62.66% | 60.47% | 51.79% | 53.3% | 65.71% | 64.68% | 64.34% | 62.79% | 65.48% | 65.88% | 62.93% | 55.23% | 55.72% | 51.93% | 43.87% | 37.91% | 40.06% | 43.89% | 46.03% | 44.64% | 41.35% | 35.81% | 34.7% | 35.81% | 35.09% | 36.2% | 35.1% |
| Operating Income | 7.57M | 8.27M | 7.29M | 9.49M | 9.54M | 10.68M | 8.58M | 7.41M | 5.08M | 5.59M | 5.16M | 4.56M | 3.57M | 2.97M | 2.94M | 3.94M | 2.77M | 3.42M | 4.71M | 2.92M | 2.31M | 4.2M | 4.1M | 4.54M | 4.21M | 3.69M | 3.47M | 4.2M | 4.3M | 3.8M | 3.4M |
| Operating Margin % | 15.83% | 17.41% | 16.59% | 23.2% | 30.04% | 35.12% | 24.84% | 23.96% | 20.37% | 26.49% | 25.4% | 22.94% | 17.8% | 13.98% | 13.76% | 16.63% | 11.07% | 12.84% | 16.38% | 9.83% | 8.37% | 17.13% | 18.04% | 19.45% | 17.42% | 14.08% | 13.81% | 18.34% | 18.86% | 17.19% | 16.35% |
| Operating Income Growth % | - | 13.35% | -23.14% | -0.47% | -10.72% | 24.46% | 15.83% | 45.79% | -9.09% | 8.33% | 13.21% | 27.53% | 20.42% | 0.82% | -25.37% | 42.62% | -19.15% | -27.44% | 61.53% | 26.42% | -45.05% | 2.57% | -9.74% | 7.89% | 14% | 6.42% | -17.43% | -2.33% | 13.16% | 11.76% | 13.33% |
| Pretax Income | 7.57M | 8.27M | 7.29M | 9.49M | 9.54M | 10.68M | 8.58M | 7.41M | 5.08M | 5.59M | 5.16M | 4.56M | 3.57M | 2.97M | 2.94M | 3.94M | 2.77M | 3.42M | 4.71M | 2.92M | 2.31M | 4.2M | 4.1M | 4.54M | 4.21M | 3.69M | 3.47M | 4.2M | 4.3M | 3.8M | 3.4M |
| Pretax Margin % | 15.83% | 17.41% | 16.59% | 23.2% | 30.04% | 35.12% | 24.84% | 23.96% | 20.37% | 26.49% | 25.4% | 22.94% | 17.8% | 13.98% | 13.76% | 16.63% | 11.07% | 12.84% | 16.38% | 9.83% | 8.37% | 17.13% | 18.04% | 19.45% | 17.42% | 14.08% | 13.81% | 18.34% | 18.86% | 17.19% | 16.35% |
| Income Tax | -219.42K | 516.65K | -107K | 541K | 879K | 1.23M | 629K | 599K | 800K | 2.04M | 1.58M | 1.33M | 923K | 356K | 546K | 854K | 219K | 516K | 956K | 334K | 241K | 909K | 863.8K | 899.23K | 986.65K | 934.7K | 880.77K | 1M | 1.1M | 1M | 800K |
| Effective Tax Rate % | -2.9% | 6.25% | -1.47% | 5.7% | 9.22% | 11.52% | 7.33% | 8.08% | 15.74% | 36.57% | 30.62% | 29.27% | 25.83% | 11.99% | 18.55% | 21.65% | 7.92% | 15.08% | 20.28% | 11.44% | 10.44% | 21.63% | 21.09% | 19.81% | 23.45% | 25.33% | 25.4% | 23.81% | 25.58% | 26.32% | 23.53% |
| Net Income | 7.79M | 7.75M | 7.4M | 8.95M | 8.66M | 9.45M | 7.95M | 6.81M | 4.28M | 3.55M | 3.58M | 3.22M | 2.65M | 2.61M | 2.4M | 3.09M | 2.55M | 2.9M | 3.76M | 2.58M | 2.07M | 3.29M | 3.23M | 3.64M | 3.22M | 2.76M | 2.59M | 3.2M | 3.2M | 2.8M | 2.6M |
| Net Margin % | 16.29% | 16.32% | 16.83% | 21.88% | 27.27% | 31.07% | 23.02% | 22.02% | 17.16% | 16.8% | 17.62% | 16.22% | 13.21% | 12.31% | 11.21% | 13.03% | 10.19% | 10.9% | 13.06% | 8.71% | 7.5% | 13.43% | 14.24% | 15.6% | 13.33% | 10.52% | 10.31% | 13.97% | 14.04% | 12.67% | 12.5% |
| Net Income Growth % | 7.04% | 4.74% | -17.3% | 3.38% | -8.4% | 18.84% | 16.78% | 59.04% | 20.76% | -0.95% | 11.04% | 21.61% | 1.49% | 8.92% | -22.42% | 21.36% | -12.32% | -22.72% | 45.42% | 25% | -37.2% | 1.86% | -11.17% | 13.02% | 16.86% | 6.52% | -19.16% | 0% | 14.29% | 7.69% | 18.18% |
| Net Income (Continuing) | 7.79M | 7.75M | 7.4M | 8.95M | 8.66M | 9.45M | 7.95M | 6.81M | 4.28M | 3.55M | 3.58M | 3.22M | 2.65M | 2.61M | 2.4M | 3.09M | 2.55M | 2.9M | 3.76M | 2.58M | 2.07M | 3.29M | 3.23M | 3.64M | 3.22M | 2.76M | 2.59M | 3.2M | 3.2M | 2.8M | 2.6M |
| EPS (Diluted) | 1.42 | 1.34 | 1.27 | 1.57 | 1.51 | 1.62 | 1.38 | 1.19 | 0.82 | 0.71 | 0.71 | 0.64 | 0.53 | 0.53 | 0.48 | 0.62 | 0.52 | 0.62 | 0.82 | 0.57 | 0.45 | 0.71 | 0.70 | 0.78 | 0.68 | 0.57 | 0.53 | 0.63 | 0.63 | 0.57 | 0.62 |
| EPS Growth % | 8.87% | 5.51% | -19.11% | 3.97% | -6.79% | 17.39% | 15.97% | 45.12% | 15.49% | 0% | 10.94% | 20.75% | 0% | 10.42% | -22.58% | 19.23% | -16.13% | -24.39% | 43.86% | 26.67% | -36.62% | 1.43% | -10.26% | 14.71% | 19.3% | 7.55% | -15.87% | 0% | 10.53% | -8.06% | 16.98% |
| EPS (Basic) | - | 1.41 | 1.27 | 1.57 | 1.51 | 1.62 | 1.38 | 1.19 | 0.82 | 0.71 | 0.72 | 0.65 | 0.54 | 0.53 | 0.49 | 0.63 | 0.52 | 0.62 | 0.82 | 0.57 | 0.45 | 0.71 | 0.70 | 0.78 | 0.68 | 0.57 | 0.53 | 0.63 | 0.63 | 0.57 | 0.62 |
| Diluted Shares Outstanding | 5.5M | 5.81M | 5.54M | 5.49M | 5.48M | 5.48M | 5.46M | 5.53M | 4.95M | 4.98M | 5.02M | 4.93M | 4.92M | 4.87M | 4.85M | 4.8M | 4.72M | 4.63M | 4.6M | 4.54M | 4.6M | 4.64M | 4.62M | 4.68M | 4.76M | 4.81M | 4.91M | 5.06M | 5.12M | 4.93M | 4.22M |
Geographic concentration credit risk
According to quarterly financial data, United Bancorp's net interest income has demonstrated a recovery trend, climbing from $6.0 million in 2024Q1 to $6.5 million by 2026Q1, reflecting a successful repricing of the loan portfolio despite the competitive pressures inherent in the Ohio Valley banking market.
The recent expansion in NII suggests that the bank is effectively managing its deposit betas, allowing interest-earning assets to outpace the rising cost of funding. Investors should monitor whether this growth trajectory remains sustainable as the regional loan demand potentially plateaus in the coming quarters.
As reported in recent filings, the bank has maintained a consistent net interest margin of approximately 0.8% over the last several quarters, indicating a stable spread environment that appears resilient to the broader volatility observed in regional interest rate cycles and local funding cost fluctuations.
This stability in NIM suggests that the bank's asset-liability management is well-aligned with its local deposit base. However, the narrow margin profile warrants further investigation into whether the bank possesses sufficient pricing power to protect these spreads if regional competition for deposits intensifies.
Based on the provided income statements, United Bancorp has maintained an efficiency ratio hovering near 50% to 53%, which suggests that management is successfully balancing the high fixed costs of its branch network against the revenue generated from its localized community banking operations.
The ability to keep the efficiency ratio within this range implies a disciplined approach to non-interest expense management. Analysts should evaluate if this level of operational leverage can be maintained without significant investment in digital infrastructure to compete with larger regional peers.
Data from recent financial statements shows a shift in provision for loan losses, moving from a net recovery in 2023Q4 to a $30,000 expense in 2026Q1, which may indicate a more conservative stance on credit quality as the regional economic environment faces potential headwinds.
The transition toward higher provisioning suggests that management is proactively addressing potential credit deterioration within its commercial real estate portfolio. Investors should monitor the non-performing asset levels closely to determine if these provisions are sufficient to cover latent risks in the Ohio Valley footprint.
As evidenced by the quarterly figures, non-interest income has fluctuated between $1.3 million and $2.1 million, representing a variable component of total revenue that appears sensitive to transaction-based service charges rather than a consistent stream of recurring wealth management or advisory fee income.
This reliance on transaction-based fees introduces a layer of volatility to the top line that is not present in the interest-earning segments. The lack of a diversified fee base may limit the bank's ability to offset potential interest income compression during periods of declining loan demand.
Quick answers to the most common questions about buying UBCP stock.
United Bancorp, Inc. (UBCP) is profitable, generating $7.8M in net income for the fiscal year ending 2025 with a net profit margin of 16.3%.
United Bancorp, Inc. (UBCP) reported an operating income of $8.3M, resulting in an operating profit margin of 17.4%. This margin reflects the operational efficiency of the business before interest and taxes.
United Bancorp, Inc. (UBCP) generated $32.0M in gross profit for the year, representing a gross profit margin of 67.4%. This demonstrates the company's core pricing power and production efficiency.