Randall M. Greenwood, Senior Vice President and CFO of UBCP stated annualized six-months earnings generated a 0.88% return on average assets and a 9.78% return on average equity compared to 0.80% and 9.11% for the same period in 2001. Financial results were restated to take into consideration the 5% share dividend paid to shareholders on December 20, 2001.   Greenwood continued by stating the earnings of United Bancorp, Inc. have benefited from a stronger net interest margin that increased by 4.99% from second quarter 2001 and the continued asset growth and improved financial performance in both of UBCP’s affiliates, The Citizens Savings Bank, Martins Ferry, OH and The Community Bank, Lancaster, OH.  The increase in the net interest earnings from first six months of 2001 to the same period in 2002 was $390,000 or 6.5% for the Company.  In addition, noninterest income increased 18% to $887,478 for the first six months as compared to the same period in 2001.  Mortgage refinance fees and investment security gains mainly drove the noninterest income increase for the first six months of 2002.

PROMOTIONS ANNOUNCED AT THE CITIZENS SAVINGS BANK

MARTINS FERRY, OHIO:  With the Second Century of Service beginning this spring at The Citizens Savings Bank of Martins Ferry, Ohio, several management promotions have been announced by James W. Everson, Chairman and Chief Executive Officer.

Larry D. Browning, Jr. has been promoted to Senior Vice President and Treasurer.  Browning joined The Citizens Bank team in August 2000 and most recently was Vice President and Treasurer.  A cum laude graduate in Business Administration of Baldwin-Wallace College, Berea, Ohio, he will receive a Master’s degree in Business Management this May from Wheeling Jesuit University and was elected to Sigma Beta Delta, an international honor society in Business, Management and Administration.  He also holds Series 6, 7, 66 and 24 securities licenses and will sit later this year for the CMA/CFM (Certified Management Accountant/Certified Financial Manager) exam, the corporate equivalent of public accounting’s CPA exam.  He and his wife, Dr. Kindra Browning, reside in St. Clairsville.

Michael J. Goclan has been appointed Assistant Vice President and Branch Manager for the Bridgeport Office.  Goclan joined the bank in October 1998 and is responsible for the overall development and operations of the Bridgeport Office for both deposits and lending.  He also assists the Colerain and St. Clairsville Offices with their lending activities and training.

A graduate of Ohio University with a B.B.A. in General Business and a minor in Economics, Goclan has participated in special lending seminars and classes.  He is a member of St. Mary’s Church, Martins Ferry and its Parish Council.  Additional affiliations include Knights of Columbus Council 1421, Bridgeport Area Chamber of Commerce Board Member, Bridgeport Rotary Club, and he was recently appointed to the Belmont County Business Coalition.  He and his wife, Dana, are the parents of three children and live in Martins Ferry.

Linda J. Koledin has been promoted to Assistant Vice President/Marketing Director.  Koledin joined the bank as Marketing Director in May 2001 with over 20 years experience, and coordinates the marketing efforts for the ten offices of The Citizens Bank, as well as United Bancorp, Inc., the Bank’s holding company.  She holds an associate degree in Business Management from Belmont Technical College and a B.A. from Wheeling Jesuit University.  The mother of two grown children, she is a resident of St. Clairsville and is a member of Holy Resurrection Eastern Serbian Orthodox Church in Steubenville.

Jerry A. Yuhase has been appointed Assistant Vice President/Loan Collection Officer.  Yuhase joined The Citizens Bank in March 1998 with over 25 years loan collection experience and has successfully maintained The Citizens Bank’s loan delinquencies to a number well below the Bank’s comparative peer group.  A graduate of West Liberty State College, he holds a bachelor’s degree in Business with a major in Banking/Finance and has earned a certificate from the West Virginia School of Banking.  Yuhase is active in the Warwood Veterans Association.  He and his wife, Lori, have two children and live in Wheeling.

In making the announcements, Everson said, “The restructuring of The Citizens Bank’s management team is opening new doors of opportunity for expansion and growth throughout the organization.  Each of these associates has unique knowledge, experience and expertise to offer, and we are extremely pleased to have them as part The Citizens Bank Team.  Their promotions are well deserved.”

In a recent announcement following The Citizens Savings Bank’s reorganization meeting, James W. Everson was appointed Chairman and Chief Executive Officer; Scott A. Everson, President and Chief Operating Officer; and Randall M. Greenwood, Executive Vice President and Chief Financial Officer. Also reappointed were Norman F. Assenza, Jr., Senior Vice President, Chief Compliance Officer and Secretary; Michael A. Lloyd, Senior Vice President and Chief Information Officer; and James A. Lodes, Senior Vice President and Chief Lending Officer; and Jeffrey K. Urban, Senior Vice President and Area Executive of the Bank’s Northern and Central Regions.  Completing the management group of The Citizens Savings Bank are Raye L. Ackerman, Vice President/ Loan Administration; Charles E. Allensworth, Vice President and Branch Manager Officer/Strasburg; Lloyd G. Hood, Vice President/Consumer Banking Officer; Jean E. Huff, Vice President/Human Resource Officer and Assistant Secretary; Carol L. Rambaud, Vice President/Area Manager, Northern and Central Regions; Bryan S. Ramsey, Vice President/Commercial Banking Officer; Matthew D. Jenkins, Assistant Vice President/Controller; Daniel Mamula, Assistant Vice President and Branch Manager Officer/New Philadelphia; Shirley M. Ballentine, Customer Service Officer/Dover; Dianne M. Cole, Branch Manager Officer/Jewett; Sheila K. Fish, Customer Service Officer/Dellroy; Raymond E. Jablonski, Consumer Loan Officer; Robin J. Magyar, Branch Manager Officer/Martins Ferry; Stephanie A. McNeal, Customer Service Officer/Bridgeport; Judith C. Miller, Customer Service Officer/Martins Ferry; Richard J. Pollock, Jr., Network Administrator Officer and Brenda S. Valentine, Credit Analyst Officer.  Everson concluded by stating, “We continue to be blessed with a very strong and experienced management team, most with many years of service with The Citizens Savings Bank.”

The Citizens Bank is an affiliate of United Bancorp, Inc. (UBCP), a multi-bank holding company with total assets of approximately $335 million and total shareholder equity of approximately $28.8 million as of March 31, 2002. Headquartered in Martins Ferry, Ohio, The Citizens Bank is the only locally owned financial institution in Martins Ferry and has been in business since 1902. Affiliates also include The Community Bank, Lancaster, Ohio.  The banks have seventeen 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.  Those wanting more information should contact the Main Office at (740)633-0445 or log on to the website at www.thecitizensbank.com.

THE CITIZENS SAVINGS BANK REORGANIZES ITS LEADERSHIP FOR ITS SECOND CENTURY OF SERVICE

MARTINS FERRY, OHIO:  As the final chapter of the first 100 years closed for The Citizens Savings Bank of Martins Ferry, Ohio, in April 2002, the Bank’s Board of Directors announced its senior management reorganization plans for the beginning of its second century of service.  James W. Everson, who will continue in an active role as the bank’s Chief Executive Officer and Chairman, announced the appointment of Scott A. Everson as President and Chief Operating Officer and Randall M. Greenwood as Executive Vice President and Chief Financial Officer.

James W. Everson, who has served as Chairman, President and Chief Executive, started at the bank in 1959 as a student intern under the leadership of then President Harold H. Riethmiller.  Upon Riethmiller’s retirement in January 1973, Everson became the Bank’s fourth president.  With the merger of The Citizens-State Bank of Strasburg Ohio into The Citizens Savings Bank in May 1999, Everson was named Chairman and Harold W. Price was appointed the Bank’s fifth president and CEO. Price suffered a fatal heart attack four months later, and Everson was reappointed Chairman, President and CEO.  He will continue to serve as Chairman, President and CEO of United Bancorp, Inc., the holding company for The Citizens Bank and The Community Bank of Lancaster, Ohio.

Scott A. Everson was appointed President and Chief Operating Officer and a Director of the Bank. He most recently served as Senior Vice President of Operations and Retail Banking. He began his career as a student intern and is a 13-year veteran of the Bank.  Everson, who is a life-long resident of Martins Ferry and a member of The First Presbyterian Church, graduated from Linsly School in Wheeling and Westminster College in New Wilmington, Pennsylvania with a degree in Business Administration/Finance.  He completed The Ohio School of Consumer Credit and the Ohio School of Banking.  He also received a diploma from The Graduate School of Banking at the University of Wisconsin-Madison, a 30-month bank-focused program covering economic and regulatory environments, as well as strategic planning and contemporary trends affecting the financial services industry.

Everson was recently appointed Senior Vice President and Chief Operating Officer of United Bancorp, Inc. He serves on the Board of Directors of the Martins Ferry Chamber of Commerce, the Advisory Board for the American Institute of Banking, the Advisory Council of Boy Scouts, Ohio City Lodge #486 F. & A. M, and is a member and current president of the Martins Ferry Rotary Club.

Randall M. Greenwood was appointed Executive Vice President and Chief Financial Officer of The Citizens Bank.  He was born and reared in Bellaire and returned to the Ohio Valley from Columbus to join The Citizens Bank team in December 1997 as Senior Vice President and Chief Financial Officer and as Vice President, Chief Financial Officer and Treasurer of United Bancorp, Inc.  He has directed the financial functions and significantly enhanced the accounting, regulatory reporting, budgeting, asset/liability management and forecasting for the Bank as well as United Bancorp, Inc.

Greenwood is a summa cum laude graduate of Ohio University in Athens, Ohio, with a bachelor’s degree in Accounting. In addition, he is a Certified Public Accountant and had 12 years senior management experience in Columbus, Ohio, in auditing and consulting in banking, brokerage and insurance with the accounting firm of Coopers & Lybrand, LLP and with Bank One prior to joining The Citizens Bank.  He has also been promoted to Senior Vice President, Chief Financial Officer and Treasurer of United Bancorp, Inc.

Greenwood is a board member for Junior Achievement and is active with the Wheeling Easter Seals Telethon and serves on the United Way Marketing Committee.  He and his wife Annette reside in St. Clairsville with their four children and are members of Thoburn Methodist Church.

In making the announcements for the Board of Directors, which is committed to preserving the Bank’s culture by promoting from within, James W. Everson remarked, “It is with great pleasure that we make these new appointments.  Both Scott and Randy have been very involved with the daily operations of The Citizens Bank for a number of years, and have contributed enormously to its growth and success.  These changes will redefine the leadership of our Bank as we move forward into our second century of service and will allow me to begin stepping back yet remain very much a part in the transition of our management teams of both The Citizens Bank and United Bancorp, Inc.”

The Citizens Bank is an affiliate of United Bancorp, Inc. (UBCP), a multi-bank holding company with total assets of approximately $335 million and total shareholder equity of approximately $28.8 million as of March 31, 2002. Headquartered in Martins Ferry, Ohio, The Citizens Bank is the only locally owned financial institution in Martins Ferry and has been in business since 1902. Affiliates also include The Community Bank, Lancaster, Ohio.  The banks have seventeen 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.  Those wanting more information should contact the Main Office at (740)633-0445 or log on to the website at www.thecitizensbank.com.

United Bancorp, Inc. Reports Earnings per Share increases of 15.79% for the Three-months ended March 31, 2002 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 $680,158 compared to $605,333 for the three months ended March 31, 2002 and 2001, respectively. On a per share basis, basic earnings per share was $0.22 for the three months ended March 31, 2002 compared to $0.19 for the three months ended March 31, 2001, up 15.79%.  Additionally, on April 17, 2002 the Board of Directors declared the second quarter dividend payment of 13¢ per share for shareholders of record on May 31, 2002, with a payment date of June 20, 2002.  On an annualized basis this represents a projected 52¢ per share paid in 2002, a 4% increase over the 50¢ per share paid in 2001.

Randall M. Greenwood, Vice President and CFO of UBCP stated annualized quarter earnings generated a 0.80% return on average assets and a 9.00% return on average equity. Financial results were restated to take into consideration the 5% share dividend paid to shareholders on December 20, 2001.   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 and the continued asset growth and improved financial performance in both of UBCP’s affiliates.

James W. Everson, Chairman, President  & CEO stated UBCP’s first quarter earnings reflect the projected improvement in earnings at our Community Bank affiliate in Lancaster, Ohio.  The Community Bank posted a positive fourth quarter of earnings in 2001 in the amount of $23,311 and posted three consecutive profitable months in the first quarter of this year of $62,689 as compared to a loss of $93,060 in the first quarter of last year.  Last years loss reflected the start up cost in the growth and development of the bank’s new franchise in Lancaster, Ohio.  With the continuing improved profitability of The Community Bank in 2002 which has been our business plan since expanding with three locations into Lancaster and The Citizens Savings Bank continued high earnings performance, we are projecting United Bancorp, Inc. to have a record year of earnings in 2003, Everson concluded.

The Annual Meeting of United Bancorp was held at 2:00 p.m. on Wednesday April 17, 2002.  Directors Michael J. Arciello, Terry A. McGhee and L. E. Richardson, Jr. were re-elected to a two year term as Class of 2004.  Those continuing to serve under previous election as Class of 2003 are James W. Everson, John M. Hoopingarner, Richard L. Riesbeck and Matthew C. Thomas.  Following the Annual Meeting the Board of Directors appointed the following officers, James W. Everson, Chairman, President & Chief Executive Officer; Alan M. Hooker, Executive Vice President-Chief Administration Officer; Scott A. Everson, Sr. Vice President-Chief Operating Officer; Randall M. Greenwood, Sr. Vice President-Chief Financial Officer & Treasurer; Norman F. Assenza, Jr., Vice President-Compliance & Secretary; Michael A. Lloyd, Vice President-Information Systems and James A. Lodes, Vice President-Lending.

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $335 million and total shareholder equity of approximately $28.8 million as of March 31, 2002.  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. Announces Cash Dividend Payment of 13¢ per Share

MARTINS FERRY, OHIO ¨¨¨ On February 27, 2002, 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, 2002 with a payment date of March 20, 2002. On an annualized basis this represents a projected $0.52 per share to be paid in 2002, a 4% increase compared to $0.50 per share paid in 2001, adjusted for the 5% stock dividend distributed on December 20, 2001. 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. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $341 million and total shareholder equity of approximately $30.5 million as of December 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 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 2001 Earnings Per Share Increase of 8.64%

MARTINS FERRY, OHIO ¨¨¨ United Bancorp, Inc. (NASDAQ UBCP), headquartered in Martins Ferry, Ohio reported earnings of $2,756,000 compared to $2,587,000 for the twelve months ended December 31, 2001 and 2000, respectively. On a per share basis, basic earnings per share was $.88 for the twelve months ended December 31, 2001 compared to $.81 for the twelve months ended December 31, 2000, this represents an 8.64% increase. Randall M. Greenwood, Vice President and CFO of UBCP stated the current period increase reflects the anticipated improved financial performance at The Community Bank and continued strong performance from the Company’s lead bank, The Citizens Savings Bank. Contributing to this increase in earnings is the Company’s ability to maintain its net interest margin at 3.86% considering interest rates have decreased significantly during the year just ended and overall growth in earning assets. Also contributing to the improved earnings was an increase in non-interest income resulting from the loan refinancings during this unprecedented year with eleven interest rate drops imposed by The Federal Reserve Bank.

The positive performance of The Citizens Bank again sustained Management’s anticipated expansion related loss at The Community Bank, which amounted to $154,136 for the year ended December 31, 2001, compared to a loss of $389,514 for 2000. The Community Bank as projected had a profitable fourth quarter, earning $21,311. Greenwood continued by stating that The Citizens Bank’s strong performance is expected to continue in 2002 and The Community Bank is projecting a profit in 2002. United Bancorp’s earnings for 2002, on a comparative basis to the year just closed, should again show improvement due to improved operating results at Community, and higher net interest margins experienced by both affiliates in 2001 which should continue into 2002. Credit quality for the Corporation continued strong throughout 2001 and also when compared to December 31, 2000. The Company’s ratio of net loans charged-off for 2001 as a percentage of average loans is half of what it was in 2000. Also, the total allowance for loan losses when measured against nonperforming loans is 435.55% at December 31, 2001 compared to 351.83% at December 31, 2000. In addition, Greenwood concluded that consolidated annual 2001 earnings at UBCP generated a 0.82% return on average assets and a 9.13% return on average equity.

James W Everson, UBCP’s Chairman, President & CEO commented the continued positive acceptance of Community’s new presence in Lancaster and Fairfield County is one reason for the improved financial performance of that affiliate and UBCP. As reported earlier, Management projected The Community Bank would operate in a “start-up mode” for twelve to eighteen months due to their opening of three new offices in Lancaster in January 2000. The Community Bank will be profitable in 2002; however, Management is still challenged to bring this affiliate’s earnings in line with industry standards and this will continue to take the next three years. Everson continued by stating our Citizens Bank affiliate had another strong year in performance with a Return on Average Assets of 1.35% and a Return on Average Equity of 16.20%. The Citizens Savings Bank has a long history of high financial performance and is celebrating its 100th anniversary in 2002. Everson concluded by stating The Citizens Savings Bank continues to project the necessary earnings to support UBCP’s growth and cash dividend policy. UBCP shareholders received a 5% share dividend on December 20th plus a 5% increase in their dividend payment.


United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $341 million and total shareholder equity of approximately $30.5 million as of December 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 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.

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