MARTINS FERRY, OHIO ¨ ¨ ¨ United Bancorp, Inc. (NASDAQ UBCP), headquartered in Martins Ferry, Ohio reported earnings of $1,282,000 compared to $1,505,000 for the six months ended June 30, 2000 and 1999, respectively. On a per share basis, basic earnings per share was $.44 for the six months ended June 30, 2000 compared to $.51 for the six months ended June 30, 1999, down 13.7%. For the three months ended June 30, 2000 basic earnings per share was $.24 compared to $.23 for the three months ended June 30, 1999, an increase of 4.4%. Randall M. Greenwood, Vice President and CFO of UBCP stated the current period reflects two primary facts, over the first six months of 2000 the Company continues to reflect a substantial amount of overhead associated with the recent establishment of three new banking locations this past December and January in Lancaster, Ohio and the short-term impact the Company has experienced on its net interest margin due to rising interest rates.

James W Everson, UBCP’s Chairman, President & CEO commented the acceptance of our new presence in Lancaster and Fairfield County continues to exceed expectations. To date, this expanded banking franchise has generated in excess of $11 million in new deposits since opening the offices and in excess of $21 million in new loans since establishing a loan production office in March 1999 in anticipation of these new banking offices. Everson continued by stating the Community Bank charter is now in a new "start up" mode since the opening of these new offices and will return to contributing to UBCP’s profitability within twelve months. Our Citizens Bank charter continues to generate the necessary earnings to support UBCP’s growth and cash dividend policy.

Six month earnings generated a 0.85% return on average assets and a 10.3% return on average equity. Financial results were restated to take into consideration the 5% share dividend paid to shareholders on December 20, 1999. Greenwood stated the six months June 30, 2000 performance in addition to including the start-up costs, additional staffing and related non-interest expenses associated with expanding into Fairfield County also includes a decrease of approximately $90,000 in income from our Secondary Mortgage Loan Program resulting from the recent upward movement in interest rates causing the mortgage business to slow down. This interest rate increase also contributed to an overall increase in the Company’s costs of funds causing downward pressure on the company’s net interest margin.

Everson continued by stating his Management Team is again pleased with the financial results and the positive impact our expansion plans are having on our Company’s future. Since December 31, 1999, gross outstanding loans for UBCP grew by $13.6 million and since June 30, 1999 gross outstanding loans grew by $27.1 million. Our expansion into Fairfield County and specifically the Lancaster market has provided the majority of this loan growth. While our interest margin has decreased since December 31, 1999 our continued loan growth should help support the Company’s net interest margin. As previously reported, our franchise growth over the past 18 months included the opening of a full service Brokerage division of The Citizens Savings Bank known as Brokerage United with securities provided through Raymond James Financial Services, Inc., member NASD/SIPC; and the acquisition of a full service banking center in Jewett, Ohio. With our recent growth we have expanded our backroom infrastructure with a natural gas powered electrical system and the acquisition and renovation of the adjoining property to our consolidated Operations Center in Martins Ferry, Ohio. Everson concluded by stating this year continues to be a transitional one for UBCP where we are "spending money to make money." As we aggressively grow our franchise, non-recurring expenses are required on the short term to provide for future growth in earnings and shareholder value.

MARTINS FERRY, OHIO ¨ ¨ ¨ United Bancorp, Inc. (NASDAQ UBCP), headquartered in Martins Ferry, Ohio reported first quarter earnings of $576,000 compared to $830,000 for the first quarter 1999. On a per share basis, basic earnings per share was $.20 for the three months ended March 31, 2000 compared to $.28 for the three months ended March 31, 1999, down 28.6%. Randall M. Greenwood, Vice President and CFO of UBCP stated the current period reflects two primary facts, UBCP experienced a strong comparative quarter in 1999 and the current quarter continues to reflect a substantial amount of overhead associated with the recent establishment of three new banking locations this past December and January in Lancaster, Ohio.

James W Everson, UBCP’s Chairman, President & CEO commented the acceptance of our new presence in Lancaster and Fairfield County continues to exceed expectations. To date, this expanded banking franchise has generated in excess of $10 million in new deposits since opening the offices and in excess of $16 million in new loans since establishing a loan production office in March 1999 in anticipation of these new banking offices. Everson continued by stating the Community Bank charter is now in a new "start up" mode since the opening of these new offices and will return to contributing to UBCP’s profitability within twelve months. Our Citizens Bank charter continues to generate the necessary earnings to support UBCP’s growth and cash dividend policy.

First quarter earnings generated a 0.77% return on average assets and a 9.26% return on average equity. Financial results were restated to take into consideration the 5% share dividend paid to shareholders on December 20, 1999. Greenwood stated the first quarter 2000 performance in addition to including the start-up costs, additional staffing and related non-interest expenses associated with expanding into Fairfield County also includes a decrease of approximately $58,000 in income from our Secondary Mortgage Loan Program resulting from the recent upward movement in interest rates causing the mortgage business to slow down. This interest rate increase also contributed to an overall increase in the Company’s costs of funds causing downward pressure on the company’s net interest margin.

Everson continued by stating his Management Team is again pleased with the financial results and the positive impact our expansion plans are having on our Company’s future. Since December 31, 1999, gross outstanding loans for UBCP grew by $4.0 million and since March 31, 1999 gross out standing loans grew by $23.4 million. Our expansion into Fairfield County and specifically the Lancaster market has provided the majority of this loan growth. As previously reported, our franchise growth in 1999 included the opening of a full service Brokerage division of The Citizens Savings Bank known as Brokerage United with securities provided through Raymond James Financial Services, Inc., member NASD/SIPC; and the acquisition of a full service banking center in Jewett, Ohio. With our recent growth we have expanded our backroom infrastructure with a natural gas powered electrical system and the acquisition and renovation of the adjoining property to our consolidated Operations Center in Martins Ferry, Ohio. Everson concluded by stating this year continues to be a transitional one for UBCP where we are "spending money to make money." As we aggressively grow our franchise, non-recurring expenses are required on the short term to provide for future growth in earnings and shareholder value.

United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $300 million and total shareholder equity of approximately $25.7 million as of March 31, 2000. Affiliates of UBCP include The Citizens Savings Bank and The Community Bank with seventeen banking offices and an Operations Center located in Ohio serving Athens, Belmont, Carroll, Fairfield, Harrison, Hocking and Tuscarawas Counties. The Company trades on The Nasdaq SmallCap Market tier of the Nasdaq Stock Market under the symbol UBCP, Cusip #90991109.