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United Bancorp, Inc. |
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United Bancorp, Inc. Announces 5% Share Dividend and Cash Dividend Payment of 13¢ per Share MARTINS FERRY, OHIO ¨¨¨ On November 20, 2001, the Board of Directors of United Bancorp, Inc. (UBCP) declared a 5 percent share dividend for shareholders of record on November 30, 2001 and
a quarterly cash dividend payment of 13¢ per share. On December 20, 2001, shareholders of record will receive additional stock shares equal to 5% of their present holdings plus payment representing any fractional share based on the bid price of UBCP on record date. Payment of the fourth quarter dividend in the amount of 13¢ per share will be on total holdings including the new share dividend. This will result in a 5% increase in the fourth quarter
dividend payment. James W. Everson, Chairman, President and Chief Executive Officer stated this increase reflects the positive historic growth of UBCP and Management projections for its continuation. United Bancorp, Inc. and its lead bank, The Citizens Savings Bank of Martins Ferry, Ohio has a history of declaring stock splits which has rewarded shareholders for the Company's growth and performance. Shareholders of The Citizens Savings Bank received a 100% share dividend in 1971 and 1981 and exchanged their stock on a four for one basis when UBCP was formed in 1983. UBCP paid a 50% share
dividend in 1987 and a 100% share dividend in 1992 and 1993 plus 10% share dividends in 1994, 1996, 1997 and 5% share dividends in 1998 1999 and 2000. Everson concluded by stating those holding one hundred shares of The Citizens Savings Bank stock in 1970 will now hold 15,529 shares of UBCP stock. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $377.1 million and total shareholder equity of approximately $31.1 million as of September 30, 2001. 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. United Bancorp, Inc. Reports Earnings Per Share increases of 4.55% for the Three-months and 4.69% for the Nine-months ended September 30, 2001 MARTINS FERRY, OHIO ¨¨¨ United Bancorp, Inc. (NASDAQ UBCP), headquartered in Martins Ferry, Ohio reported earnings of $2,020,006 compared to $1,949,923 for the nine months ended September 30, 2001 and 2000, respectively. On a per share basis, basic earnings per share was $0.67 for the nine months ended September 30, 2001 compared to $0.64 for the nine months ended September 30, 2000, up 4.69%. For the three months ended September 30, 2001 UBCP earned $677,997 compared to $668,266 for the three months ended September 30, 2000. On a per share basis, basic earnings per share was $0.23 for the three months ended September 30, 2001 compared to $0.22 for the three months ended
September 30, 2000, up 4.55%. Randall M. Greenwood, Vice President and CFO of UBCP stated annualized quarterly earnings generated a 0.81% return on average assets and a 9.03% return on average equity. Financial results were restated to take into consideration the 5% share dividend paid to shareholders on December 20, 2000. Greenwood continued by stating the earnings of United Bancorp, Inc. have benefited from a stronger net interest margin due to the overall lower interest rate environment in 2001 and from the continued asset growth and improved financial performance in both of UBCP’s affiliates.
James W. Everson, UBCP’s Chairman, President & CEO commented on the continuing positive acceptance of Community’s new presence in Lancaster, Ohio and Fairfield County. With the opening of three new Lancaster, Ohio locations in January 2000, management anticipated a twelve to eighteen month impact on earnings this rapid expansion into Fairfield County would have on that affiliates overall financial performance. Since opening these offices, this expanded banking franchise has generated in excess of $32 million in new deposits and $23 million in new
loans in its newly established banking community. Everson continued by stating The Community Bank charter continues to operate in a new “start up” mode and as such is not currently contributing to the profitability of UBCP. However, The Community Bank is making good progress on market growth and name recognition and returning to profitability. As we have projected, our Citizens Bank charter continues to generate the necessary earnings to support UBCP’s growth and cash dividend policy and our Community Bank charter will be profitable in 2002. Everson continued, in addition to the positive earnings report for the third quarter, Management is very pleased with the continuing success of our electronic banking programs. During the third quarter 2000 we introduced Voice Response Banking at both banking charters. On December 15, 2000 we introduced interactive Internet Banking to our retail banking customers and introduced Cash Management Services through our Internet Banking program to our Commercial accounts this past June. Both Citizen’s and Community’s retail and commercial customers may now enjoy
complete and secure access to their banking information, funds management and bill payment through their personal computer, anywhere at anytime 24 x 7. With this capital investment our customers now have the latest in banking technology and the ultimate in service and convenience. To date we have in excess of 1,400 Internet bank customers corporate wide and the acceptance continues to exceed management’s expectations and industry standards. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $337 million and total shareholder equity of approximately $31.1 million as of September 30, 2001. 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, Jefferson and Tuscarawas Counties. The Company trades on The Nasdaq SmallCap Market tier of the Nasdaq Stock Market under the symbol UBCP, Cusip #90991109.
The information contained in this press release contains forward-looking statements regarding expected future performances which are not historical facts and which involve risk and uncertainties. Actual results and performance could differ materially from those contemplated by these forward looking statements. United Bancorp, Inc. Declares a Regular 13¢ Per Share Dividend and Reaffirms Stock Buy Back Program MARTINS FERRY, OHIO *** On August 21, 2001 the Board of Directors of United Bancorp, Inc. (UBCP) declared the third quarter dividend payment of 13¢ per share for shareholders of record on August 31, 2001, with a payment date of September 20, 2001. On an annualized basis this represents a projected 52¢ per share paid in 2001 a 4% increase over the 50¢ per share paid in 2000. James W. Everson, Chairman, President & Chief Executive Officer of UBCP announced the Board of Directors of United Bancorp, Inc. has reaffirmed the stock buy back program that began in 2000. The Board authorized management to purchase up to 10% of UBCP common stock in the open market over the next two years. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $344 million and total shareholder equity of approximately $29.8 million as of June 30, 2001. 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. United Bancorp, Inc. Reports Earnings Per Share increases of 8.7% for the Three-months and 7.14% for the Six-months ended June 30, 2001 MARTINS FERRY, OHIO ¨¨¨ United Bancorp, Inc. (NASDAQ UBCP), headquartered in Martins Ferry, Ohio reported earnings of $1,342,009 compared to $1,281,657 for the six months ended June 30, 2001 and 2000, respectively. On a per share basis, basic earnings per share was $0.45 for the six months ended June 30, 2001 compared to $0.42 for the six months ended June 30, 2000, up 7.14%. For the three months ended June 30, 2001 UBCP earned $736,676 compared to $705,335 for the three months ended June 30, 2000. On a per share basis, basic earnings per share was $0.25 for the three months ended June 30, 2001 compared to $0.23 for the three months ended June 30, 2000, up 8.70%. Randall M. Greenwood, Vice President and CFO of UBCP stated annualized second quarter earnings generated a 0.80% return on average assets and a 9.11% return on average equity. Financial results were restated to take into consideration the 5% share dividend paid to shareholders on December 20, 2000. Greenwood continued by stating the earnings of United Bancorp, Inc. have benefited from a stronger net interest margin due to the overall lower interest rate environment in 2001 and from the continued growth and improved financial performance in both of UBCP’s affiliates.
James W. Everson, UBCP’s Chairman, President & CEO commented on the continuing positive acceptance of Community’s new presence in Lancaster, Ohio and Fairfield County. Beginning in January 2000, Management anticipated a twelve to eighteen month impact on earnings this rapid expansion into Fairfield County would have on that affiliates overall financial performance. Since opening these offices, this expanded banking franchise has generated in excess of $25 million in new deposits and $27 million in new loans in its newly established banking community. Everson continued by stating The
Community Bank charter continues to operate in a new “start up” mode and as such is not contributing to the profitability of UBCP. However, The Community Bank is making good progress on market growth and name recognition and returning to profitability. As we have projected, our Citizens Bank charter continues to generate the necessary earnings to support UBCP’s growth and cash dividend policy. Everson continued, in addition to the positive earnings report for the second quarter, Management is very pleased with the success of our electronic banking program. During the third quarter 2000 we introduced Voice Response Banking at both banking charters. On December 15, 2000 we introduced interactive Internet Banking to our retail banking customers. We introduced Cash Management Services through our Internet Banking program to our Commercial accounts this past June. Both Citizen’s and Community’s retail and
commercial customers may now enjoy complete and secure access to their banking information, funds management and bill payment through their personal computer, anywhere at anytime 24 x 7. With this capital investment our customers now have the latest in banking technology and the ultimate in service and convenience. To date we have in excess of 1,250 Internet bank customers corporate wide and the acceptance continues to exceed Management’s expectations and industry standards. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $343 million and total shareholder equity of approximately $29.8 million as of June 30, 2001. 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, Jefferson and Tuscarawas Counties. The Company trades on The Nasdaq SmallCap Market tier of the Nasdaq Stock Market under the symbol UBCP, Cusip #90991109.
The information contained in this press release contains forward-looking statements regarding expected future performances which are not historical facts and which involve risk and uncertainties. Actual results and performance could differ materially from those contemplated by these forward looking statements. Annual Meeting of United Bancorp, Inc. MARTINS FERRY, OHIO ¨¨¨ United Bancorp, Inc. (NASDAQ UBCP) The Annual Meeting of the shareholders of United Bancorp, Inc. was duly called and held on April 18, 2001 and
adjourned to May 18, 2001 at which meeting a quorum of the shareholders were present in person and proxy. The affirmative vote of the holders of shares entitling them to exercise 66 2/3% of the voting power of the Corporation adopted the proposals as outlined in the company’s proxy statement dated and mailed to the shareholders on March 16, 2001. Shareholders approved the authorization of 2 million shares of preferred stock, the elimination of cumulative voting, the addition of a super majority shareholder vote and fair price provisions, the reduction of shareholder vote required to amend and restate the Articles of Incorporation in the future from two-thirds of the total voting power
of shareholders to a majority of the voting power; plus technical revisions to the Articles of Incorporation and the Amendment and Restatement of the Code of Regulations as outlined in the Proxy Statement. Elected to three-year terms on the Board of Directors were James W. Everson, Chairman, President and Chief Executive Officer of United Bancorp, Inc. and The Citizens Savings Bank; John M. Hoopingarner, General Manager and Secretary-Treasurer of the Muskingum Watershed Conservancy District; Richard L. Riesbeck, President of Riesbeck Food Markets, Inc. and Matthew C. Thomas, President, M. C. Thomas Insurance Agency Inc. Other members continuing to serve on United Bancorp, Inc. Board include Michael J. Arciello, Retired Vice President of Finance, Nickles Bakery, Inc; Terry
A. McGhee, President and Chief Executive Officer of Western Inc., a manufacturing company; and L. E. (Dick) Richardson, Jr., Retired President, The Community Bank of Glouster. At the conclusion of the Annual Meeting of the Shareholders, United Bancorp, Inc. Board met and re-elected James W. Everson, Chairman, President and Chief Executive Officer; Alan M. Hooker, Executive Vice President-Administration; Norman F. Assenza, Jr. , Vice President-Operations & Secretary; Randall M. Greenwood, Vice President-Chief Financial Officer & Treasurer; James A. Lodes, Vice President – Lending. Appointed to the Executive Committee were Messieurs Everson, Hoopingarner,
McGhee and Riesbeck. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $337 million and total shareholder equity of approximately $29.9 million as of March 31, 2001. Affiliates of UBCP include The Citizens Savings Bank, Martins Ferry, Ohio and The Community Bank, Lancaster, Ohio with seventeen banking offices and an Operations Center located in Ohio serving Athens, Belmont, Carroll, Fairfield, Harrison, Hocking, Jefferson and Tuscarawas Counties. The Company trades on The Nasdaq SmallCap Market tier of the Nasdaq Stock Market under the symbol UBCP, Cusip #90991109. United Bancorp, Inc. Reports First Quarter 2001 Earnings Per Share up 5.26% and Declares a Cash Dividend Payment of 13¢ per Share MARTINS FERRY, OHIO ¨¨¨ United Bancorp, Inc. (NASDAQ UBCP), headquartered in Martins Ferry, Ohio reported earnings of $605,333 compared to $576,322 for the three months ended March 31, 2001 and 2000, respectively. On a per share basis, basic earnings per share was $0.20 for the three months ended March 31, 2001 compared to $0.19 for the three months ended March 31, 2000, up 5.26%. Additionally, on April 18, 2001 the Board of Directors declared the second quarter dividend payment of 13¢ per share for shareholders of record on June 1, 2001, with a payment date of June 20, 2001. On an annualized basis this represents a projected 52¢
per share paid in 2001, a 4% increase over the 50¢ per share paid in 2000. Randall M. Greenwood, Vice President and CFO of UBCP stated annualized first quarter earnings generated a 0.73% return on average assets and 8.24% return on average equity. Financial results were restated to take into consideration the 5% share dividend paid to shareholders on December 20, 2000. Greenwood continued by stating the earnings of United Bancorp, Inc. is primarily made up of the combined earnings of its two subsidiary banks, The Citizens Savings Bank, Martins Ferry, Ohio (Citizens) and The Community Bank, Lancaster, Ohio (Community). Citizens posted after tax earnings for the quarter at $718,087 generating a return on average assets of 1.15% and a return on average equity of 14.32%. This positive performance sustained the anticipated expansion related loss at Community for the quarter of $93,059. Greenwood continued that Citizen’s strong performance is anticipated for the reminder of 2001 and that Community’s profitability should return in the fourth quarter. United Bancorp’s earnings for 2001 on a comparative basis with 2000 should be improved due to the higher start up cost and higher earnings losses experienced by Community in the earlier quarters of 2000 when it first opened its three new offices and Community’s projected return to profitability in the fourth quarter of 2001. James W Everson, UBCP’s Chairman, President & CEO commented on the growing acceptance of Community’s new presence in Lancaster and Fairfield County, which continues to exceed expectations. Beginning in January 2000, management anticipated a twelve to eighteen month impact on earnings this rapid expansion into Fairfield County would have and we are pleased with our growth in loans and deposits. Since opening these new offices, this expanded banking franchise has
generated in excess of $28 million in new deposits and $26 million in new loans in its newly established banking community. Everson continued by stating The Community Bank charter over the past fifteen months has been operating in a new “start up” mode and management is projecting The Community Bank will return to contributing to UBCP’s profitability in the fourth quarter of 2001. Our Citizens Bank charter continues to project the necessary earnings to support UBCP’s growth and cash dividend policy. Everson continued, in addition to the positive earnings report for the first quarter, Management is very pleased with the success of our electronic banking program. During the third quarter 2000 we introduced Voice Response Banking at both banking charters. On December 15, 2000 we introduced interactive Internet Banking. Both Citizen’s and Community’s customers may now enjoy complete and secure access to their banking information
and bill payment through their personal computer, anywhere at anytime 24 x 7. With this capital investment our customers now have the latest in banking technology and the ultimate in service and convenience. To date we have in excess of 1,000 internet bank customers corporate wide and the acceptance continues to exceed management’s expectations and industry standards. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $337 million and total shareholder equity of approximately $29.9 million as of March 31, 2001. 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, Jefferson and Tuscarawas Counties. The Company trades on The Nasdaq SmallCap Market tier of the Nasdaq Stock Market under the symbol UBCP, Cusip #90991109.
The information contained in this press release contains forward-looking statement regarding expected future performance which are not historical facts and which involve risk and uncertainties. Actual results and performance could differ materially from those contemplated by these forward looking statements. MARTINS FERRY, OHIO ¨¨¨ On February 28, 2001, the Board of Directors of United Bancorp, Inc. (UBCP) declared a quarterly cash dividend payment of 13¢ per share for
shareholders of record on March 6, 2001. On an annualized basis this represents a projected $0.52 per share to be paid in 2001, a 4% increase compared to $0.50 per share paid in 2000, adjusted for the 5% stock dividend distributed on December 20, 2000. James W. Everson, Chairman, President and Chief Executive Officer stated this increase reflects the positive historic growth of UBCP and Management projections for its continuation. United Bancorp, Inc. and its lead bank, The Citizens Savings Bank of Martins Ferry, Ohio has a history of declaring stock splits which has rewarded shareholders for the Company's growth and performance. Shareholders of The Citizens Savings Bank received a 100% share dividend in 1971 and 1981 and exchanged their stock on a four for one basis when UBCP was formed in 1983.
UBCP paid a 50% share dividend in 1987 and a 100% share dividend in 1992 and 1993 plus 10% share dividends in 1994, 1996, 1997 and 5% share dividends in 1998, 1999 and 2000. Everson concluded by stating those holding one hundred shares of The Citizens Savings Bank stock in 1970 will now hold 14,790 shares of UBCP stock. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $323 million and total shareholder equity of approximately $28.7 million as of December 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. United Bancorp, Inc. Reports 2000 Earnings MARTINS FERRY, OHIO ¨ ¨ ¨ United Bancorp, Inc. (NASDAQ UBCP), headquartered in Martins Ferry, Ohio reported earnings of $2,587,000 compared to $3,160,000 for the twelve months ended December 31, 2000 and 1999, respectively. On a per share basis, basic earnings per share was $.85 for the twelve months ended December 31, 2000 compared to $1.02 for the twelve months ended December 31, 1999, down 16.7%. Randall M. Greenwood, Vice President and CFO of UBCP stated the current period reflects the anticipated drop in our financial performance due to the increase in overhead associated with the recent establishment of three new banking locations over the past twelve months in Lancaster, Ohio. Also contributing to this decrease in earnings is the impact the Company has experienced on its net interest margin due to rising interest rates during the year just ended and aggressive pricing in our new markets. Greenwood continued by stating the earnings of United Bancorp, Inc. is primarily made up of the combined earnings of its two subsidiary banks, The Citizens Savings Bank, Martins Ferry, Ohio (Citizens) and The Community Bank, Lancaster, Ohio (Community). Citizens posted after tax earnings for the year at $3,023,297 generating a Return on Average Assets of 1.27% and a Return on Equity Capital of 17.29%. This positive performance sustained the anticipated expansion related loss at Community for the year of $389,514. Greenwood continued that Citizen’s strong performance is anticipated to continue into 2001 and that Community’s profitability should return in the fourth quarter. United Bancorp’s earnings for 2001 on a comparative basis to the year just closed should be improved due to the higher start up cost and higher earnings losses experienced by Community in the earlier quarters of 2000 when it first opened its three new offices and Community’s projected return to profitability in the fourth quarter of 2001. James W Everson, UBCP’s Chairman, President & CEO commented on the growing acceptance of Community’s new presence in Lancaster and Fairfield County which continues to exceed expectations. Beginning in January 2000, management anticipated a twelve to eighteen month impact on earnings this rapid expansion into Fairfield County would have and we are pleased with our growth in loans and deposits. Since opening these new offices, this expanded banking franchise has generated in excess of $17 million in new deposits and $27 million in new loans in its newly established banking community. Everson continued by stating The Community Bank charter over the past twelve months has been operating in a new "start up" mode and management is projecting The Community Bank will return to contributing to UBCP’s profitability in the fourth quarter of 2001. Our Citizens Bank charter continues to project the necessary earnings to support UBCP’s growth and cash dividend policy. Consolidated annual 2000 earnings at UBCP generated a 0.83% return on average assets and a 9.9% return on average equity. Financial results were restated to take into consideration the 5% share dividend paid to shareholders on December 20, 2000. Greenwood stated the 2000 earnings 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 $70,000 in income from our Secondary Mortgage Loan Program resulting from the upward movement in interest rates during 2000 which resulted in a slow down in residential mortgage business. 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 that despite the fact year 2000 earnings are down compared to the previous year, overall his Management Team continues to be pleased with UBCP’s financial results and the projected positive impact our expansion will have on our Company’s future results. Since December 31, 1999, gross outstanding loans for UBCP grew by 9.2% and deposits increased by 13.6% while shareholder equity grew 13.4%. Our expansion into Fairfield County and specifically the Lancaster market has provided the majority of this loan growth. While our interest spread 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 two years in addition to the Lancaster expansion, includes 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. Also, we expanded our backroom infrastructure to support our growth into Internet and Voice Response Banking with the acquisition and renovation of the adjoining property to our consolidated Operations Center in Martins Ferry, Ohio. In the year 2000 we focused our capital investment in technology. During the third quarter 2000 we introduced Voice Response Banking at both banking charters. On December 15, 2000 we introduced interactive Internet Banking. Both Citizen’s and Community’s customers may now enjoy complete and secure access to their banking information and bill payment through their personal computer, anywhere at anytime 24 x 7. Everson concluded by stating 2000 was a transitional year for UBCP where we "spent money to make money." As we aggressively grow our franchise, products and services, non-recurring expenses are required on the front-end 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 $324 million and total shareholder equity of approximately $28.7 million as of December 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. The information contained in this press release contains forward-looking statement regarding expected future performance which are not historical facts and which involve risk and uncertainties. Actual results and performance could differ materially from those contemplated by these forward looking statements.
United Bancorp, Inc. Announces Appointment of New Board Member MARTINS FERRY, OHIO . . . In a move to allow for increased affiliate bank representation on the Board of Directors of United Bancorp, Inc., Martins Ferry, Ohio (UBCP), John H. Clark, Jr. resigned from the board effective January 1, 2001. Mr. Clark who was the owner of the former Beans Foundry and Manufacturing Company in Martins Ferry will continue to serve on the Board of Directors of UBCP’s lead bank, The Citizens Savings Bank, Martins Ferry, Ohio. At a special meeting of the UBCP Board held today, Terry A. McGhee, President and CEO of Westerman, Inc., a manufacturing company headquartered in Breman, Ohio with additional plants in Lancaster and Wooster, Ohio, was appointed to fill the vacancy. Mr. McGhee is a resident of Lancaster, Ohio and serves on the Board of Directors of The Community Bank, Lancaster, Ohio, a wholly owned subsidiary bank of UBCP. James W. Everson, Chairman, President & CEO of UBCP stated that Terry McGhee with his business and industrial experience along with his community involvement in Lancaster, Ohio will be a strong voice on our holding company board in representing The Community Bank as we continue to expand our banking services in Fairfield, Hocking and Athens Counties. Mr. McGhee joins Everson on the UBCP Board along with Michael J. Arciello, Massillon, Ohio, Vice President of Finanace-Retired, Nickles Bakeries, Inc.; John M. Hoopingarner, Dover, Ohio, General Manager and Secretary-Treasurer, Muskingum Watershed Conservancy District; L. E. Richardson, Newark, Ohio, Retired Community Bank President; Richard L. Riesbeck, St. Clairsville, Ohio, President, Riesbeck Food Markets, Inc. and Matthew C. Thomas, Bridgeport, Ohio, President, M. C. Thomas Insurance Agency, Inc. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $324 million and total shareholder equity of approximately $28.7 million as of December 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. |
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