United Bancorp, Inc. Announces 10% Share Dividend and Cash Dividend Payment of 13¢ per Share 

MARTINS FERRY, OHIO ¨¨¨ On November 16, 2004, the Board of Directors of United Bancorp, Inc. (UBCP) declared a 10 percent share dividend for shareholders of record on December 3, 2004 and a quarterly cash dividend payment of 13¢ per share. On December 20, 2004, shareholders of record will receive additional stock shares equal to 10% 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 10% increase in the fourth quarter dividend payment. James W. Everson, Chairman, President and Chief Executive Officer stated, “This combination of cash and stock dividends follows with the Company’s mission of providing consistent returns to its shareholders. The level of payout reflects our continuing strong operating performance and the positive historic growth of UBCP and its affiliate banks’ The Citizens Savings Bank of Martins Ferry, Ohio and The Community Bank of Lancaster, Ohio.”

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, 2003 and 5% share dividends in 1998, 1999, 2000, 2001 and 2002. Everson concluded by stating, “those holding one hundred shares of The Citizens Savings Bank stock in 1970 will now hold 19,728 shares of UBCP stock. In today’s dollars, an initial investment of $10,000 in 1970 is now valued in excess of $300,000 with a current projected annualized cash dividend of over $10,258”.

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $385 million and total shareholders’ equity of approximately $34 million as of September 30, 2004. Affiliates of UBCP include The Citizens Savings Bank and The Community Bank with seventeen banking offices, an Operations Center and a UVEST Investment Services® Community Bank brokerage office, all 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 #909911109.

This announcement contains forward-looking statements that involve risk and uncertainties, including changes in general economic and financial market conditions and the Company’s ability to execute its business plans. Although management believes the expectations reflected in such statements are reasonable, actual results may differ materially.

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United Bancorp, Inc. Reports an Earnings Per Share Increase of 6% for the Nine-months ended September 30, 2004.

MARTINS FERRY, OHIO *** United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $2,629,000 compared to $2,522,000 for the nine-months ended September 30, 2004 and 2003, respectively. On a per share basis, basic earnings per share were $0.76 for the nine-months ended September 30, 2004 compared to $0.72 for the same period in 2003, an increase of 6%. Third quarter earnings were $0.26 per share compared to $0.25 in 2003, an increase of 4%. Earnings per share data for 2003 gives effect to the 10% share dividend paid in December 2003.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer, of UBCP remarked, “Nine-month earnings generated an annualized 0.91% return on average assets (“ROA”) and an annualized 10.8% return on average equity (“ROE”) compared to 0.91% ROA and 10.6% ROE for the same period in 2003”. Greenwood also indicated that United Bancorp, Inc’s 2004 nine-month earnings have benefited from the steady growth of loans along with continued reduction in interest expense and noninterest expenses. With the current interest rate environment, the Company has experienced a slow-down in the fixed rate residential mortgage activity, resulting in a decrease in net realized gains on the sale of loans of $134,000 from nine-months ended September 30 2004, to same period in 2003. The Company’s realized gains from the sale of securities totaled $73,000 for the nine-months ended September 30, 2004 compared to $336,000 for the nine-months ended September 30, 2003, a decrease of $264,000. This decrease was more than offset by the decrease in noninterest expense of $393,000 and the increase in income from service charges of $157,000, both of which added to the core earnings increase for the nine months ended September 30, 2004.

James W. Everson, Chairman, President & CEO, stated, “Our increase in consolidated earnings performance is attributed to the continuing growth in earnings at our Community Bank affiliate, which has been previously forecast.” Community contributed $400,000 to UBCP’s net income for the nine months ended September 30, 2004, compared $44,300 to the nine-months ended September 30, 2003. Everson continued by stating “the increase in net income at Community was a major reason for UBCP’s 6% increase in earnings per share for the nine months ended September 30, 2004.” Everson concluded by stating “excluding the net realized gains on sales of securities our pre-tax core earnings increased approximately $334,000 or 13% for the nine months ended September 30, 2004 compared to the same period in 2003”.

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $385 million and total shareholders’ equity of approximately $34 million as of September 3 0, 2004. 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 #909911109.

UNITED BANCORP, INC. MARTINS FERRY, OH
UBCP

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.

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The Citizens Bank appoints a new Chief Executive Officer

MARTINS FERRY, OHIO: The Board of Directors of The Citizens Savings Bank announced today the appointment of Scott A. Everson as the Bank’s President and Chief Executive Officer. He is succeeding James W. Everson who will continue as Chairman, President and Chief Executive Officer of United Bancorp, Inc, the holding company of The Citizens Savings Bank of Martins Ferry and The Community Bank of Lancaster, Ohio, where he serves in non management positions as Chairman of the Boards of Directors.

Scott A. Everson was appointed President and Chief Operating Officer and a Director of the Bank in April 2002 after serving as Senior Vice President of Operations and Retail Banking and working in all areas of the bank including the positions of Loan Officer and Manager of the Bridgeport Office. He began his career as a student intern and is a 16-year veteran of the Bank. Everson is married to the former Katie McGilton and resides in St. Clairsville where he attends Saint Mary’s Church. Everson 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 and is a 2003 graduate of the Executive Banking Institute, Austin, Texas where he completed the curriculum of the Professional Master of Banking. He has served on the Board of Directors of the Martins Ferry Area Chamber of Commerce, the Advisory Board for the American Institute of Banking, the Advisory Council of Boy Scouts, and is a member Ohio City Lodge #486 F. & A.M and is a member and past president of the Martins Ferry Rotary Club. 

James W. Everson, who has served as bank’s Chief Executive since 1973, started his banking career in 1959 as a student intern under the leadership of then President Harold H. Riethmiller. Everson commented, “Looking back over forty-five years of being a part of The Citizens Bank Team, I have experienced a lot of excitement and many projects. Each new project brought a bit more than the last. The opening of our first branch at Colerain in 1974 no doubt was the highlight of my career to that time, but was quickly followed by Bridgeport, the Martins Ferry Auto Teller, Dover and the In-store St. Clairsville building projects. The one we had the most fun with was the construction of our new headquarters in Martins Ferry and physically moving the bank one block south to its present location on the corner of Fourth and Hickory Streets. Over a Presidents’ Day weekend in February 1984, we made the move without a loss of life, limb or file, including under armed guard, our customers’ safe deposit boxes.”

“The thrill of construction was only exceeded by the thrill of acquisitions. After forming our holding company in 1983, United Bancorp, Inc., our first was The Citizens-State Bank of Strasburg in 1986, followed by our New Philadelphia and Sherrodsville Offices in 1992, our Dellroy Office in 1994, our Community Bank affiliate in 1998 and our Jewett Office in 1999. All of these events were brought to fruition through the team effort of many faithful Directors, Officers and Employees, and yes, our valued customers”.

Everson went on to say, “What I find truly exciting is that our Board of Directors, after studying their options two plus years ago, decided to promote from within when I advised them of my plans to step down this November 1st. Scott Everson as President and Chief Operating Officer; Randy Greenwood as Executive Vice President and Chief Financial Officer; and Senior Vice Presidents Mike Lloyd, Chief Information Officer; Jim Lodes, Chief Lending Officer and John Assenza, Chief Compliance Officer have all proven their value to our organization in their leadership roles during these past two plus years since our succession of management plan was announced.” Everson concluded by stating, “With our growing middle management team, The Citizens Savings Bank and its new leadership are poised for another century of exciting growth. Everson stated that he is truly excited to look into the future and see where we can be ten years from now, building upon the strengths of what we have today.”

The Citizens Bank is an affiliate of United Bancorp, Inc. (UBCP), a multi-bank holding company with total assets of approximately $385 million and total shareholders’ equity of approximately $34 million as of September 30, 2004. 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 Small Cap Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #90991109.

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United Bancorp, Inc. Declares a Regular Cash Dividend Payment of 13¢ per Share and Announces Renewal of Stock Buy Back Program

MARTINS FERRY, OHIO ••• On August 24, 2004, the Board of Directors of United Bancorp, Inc. (UBCP) declared the third quarter dividend payment of 13¢ per share for shareholders of record on September 8, 2004, with a payment date of September 20, 2004. On an annualized basis this represents a projected $0.52 per share to be paid in 2004, an 8.3% increase compared to $0.48 per share paid in 2003, adjusted for the 10% share dividend distributed on December 19, 2003. Randall M. Greenwood, Senior Vice President and Chief Financial Officer stated this increase reflects the positive 6.4% increase in UBCP’s per share earnings reported for the six months ended June 30, 2004.

James W. Everson, Chairman, President & Chief Executive Officer of UBCP announced the Board of Directors of United Bancorp, Inc. approved a renewal of the company’s stock buy back program authorizing management to purchase up to $1,000,000 of UBCP common shares in the open market over the next two years. Everson stated, “The Jobs and Growth Tax Relief Reconciliation Act of 2003 and its tax relief on dividends have significantly altered the tax landscape for dividend paying community banks and their shareholders. This coupled with the current low interest rate environment, should add to the attraction of owning a stock that has positive cash flow and share dividend histories. The current yield on UBCP stock is near 3.7% and this does not take into consideration our history of share dividend payment. This new environment for dividend paying stocks has given investors another reason to hold them in their investment portfolio.” Repurchases will be made from time to time on the open market or in privately negotiated transaction pursuant to SEC guidelines and repurchased shares will be added to the company’s treasury stock. Since initiating a repurchase program in mid 2000, United Bancorp, Inc has repurchased 227,091 shares.

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $393 million and total shareholder’s equity of approximately $31 million as of June 30, 2004. 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.

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United Bancorp, Inc. Reports an Earnings Per Share Increase of 6% for the Six-months ended June 30, 2004.

MARTINS FERRY, OHIO ••• United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $1,731,000 compared to $1,630,000 for the six-months ended June 30, 2004 and 2003, respectively. On a per share basis, basic earnings per share were $0.50 for the six-months ended June 30, 2004 compared to $0.47 for the same period in 2003, an increase of 6%. Second quarter earnings were $0.25 per share compared to $0.24 in 2003, an increase of 4%. Earnings per share data for the 2003 quarter gives effect to the 10% share dividend paid in December 2003.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer, of UBCP remarked, “Six-month earnings generated an annualized 0.90% return on average assets (“ROA”) and an annualized 10.6% return on average equity (“ROE”) compared to 0.89% ROA and 10.1% ROE for the same period in 2003”. Greenwood also indicated that United Bancorp, Inc’s 2004 six-month earnings have benefited from the steady growth of loans along with continued reduction in interest expense and noninterest expenses. With the current interest rate environment, the Company has experienced a slow-down in the fixed rate residential mortgage activity, resulting in a decrease in net realized gains on the sale of loans of $66,000 from six-months ended June 30 2004, to same period in 2003. The Company’s realized gains from the sale of securities totaled $95,000 for the six-months ended June 30, 2004 compared to $282,000 for the six-months ended June 30, 2003, a decrease of $187,000. This decrease was more than offset by the decrease in noninterest expense of $276,000 and the increase in income from service charges of $109,000, both of which contributed to the core earnings increase for the six months ended June 30, 2004.

James W. Everson, Chairman, President & CEO, stated, “Our increase in consolidated earnings performance is attributed to the continuing growth in earnings at our Community Bank affiliate, which has been previously forecast. Community contributed $298,806 to UBCP’s net income for the six months ended June 30, 2004. Compared to the six-months ended June 30, 2003, Community’s net income increased $306,068 for the six-months. The increase in net income at Community was the main reason for UBCP’s 6% increase in earnings per share for the six months ended June 30, 2004.” Everson concluded by stating, “we continue to view 2004 as another year of positive growth in earnings for UBCP.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $393 million and total shareholders’ equity of approximately $31 million as of June 30, 2004. 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 #909911109.

UNITED BANCORP, INC. MARTINS FERRY, OH
UBCP

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.

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United Bancorp, Inc. Reports First Quarter 2004 Earnings per Share increase of 9% and Declares a Cash Dividend of 13¢ per Share.

MARTINS FERRY, OHIO ¨¨¨ United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $856,000 compared to $803,000 for the quarter ended March 31, 2004 and 2003, respectively. On a per share basis, basic earnings per share were $0.25 for the quarter ended March 31, 2004 compared to $0.23 for the quarter ended March 31, 2003, an increase of 9%. On April 21, 2004, the Board of Directors declared the second quarter dividend payment of 13¢ per share for shareholders of record on May 28, 2004, with a payment date of June 18, 2004. This dividend represents a projected annual dividend of 52¢ per share paid in 2004, an 8% increase over the 48¢ per share annual dividend paid in 2003. Earnings per share data for the 2003 quarter gives effect to the 10% share dividend paid in December 2003.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer, of UBCP remarked, “First quarter earnings generated an annualized 0.90% return on average assets (“ROA”) and an annualized 10.5% return on average equity (“ROE”) compared to 0.88% ROA and 10.0% ROE for the same period in 2003”. Greenwood also indicated that United Bancorp, Inc’s 2004 quarterly earnings have benefited from the steady growth of loans along with continued reduction in interest expense and noninterest expenses. With the current interest rate environment, the Company has experienced a slow-down in the fixed rate residential mortgage activity, resulting in a decrease in net realized gains on the sale of loans of $42,000 from first quarter 2003 to first quarter 2004. The Company’s realized gains from the sale of securities totaled $111,000 for the quarter ended March 31, 2004 compared to $202,000 for the quarter ended March 31, 2003, a decrease of $91,000. This decrease was more than offset by the decrease in noninterest expense of $146,000 and the increase in income from service charges of $57,000.

James W. Everson, Chairman, President & CEO, stated, “Our increase in consolidated earnings performance is attributed to the continuing growth in earnings at our Community Bank affiliate, which has been previously forecast. Community contributed $154,920 and Citizens Contributed $798,811 to this years first quarter earnings. Compared to last year’s first quarter, Community’s increase of $146,356 for the current quarter positively offset the earnings decline of $99,122 at The Citizens Savings Bank affiliate. The Citizens Bank results reflect their anticipated shrink in net interest margin and decrease in fee income from the slowing pace of real estate re-financings in the secondary mortgage market.” Everson concluded by stating, “we continue to view 2004 as another year of positive growth in earnings for UBCP.”

The Annual Meeting of United Bancorp was held at 2:00 p.m. on Wednesday April 21, 2004. Directors Michael J. Arciello, Terry A. McGhee and L.E. Richardson were re-elected to a two-year term as Class of 2006. Those continuing to serve under previous election as Class of 2005 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-Chief Compliance Officer & Secretary; Michael A. Lloyd, Vice President-Chief Information Officer and James A. Lodes, Vice President-Chief Lending Officer. 

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $384 million and total shareholder’s equity of approximately $33 million as of March 31, 2004. Affiliates of UBCP include The Citizens Savings Bank and The Community Bank with seventeen banking offices, an Operations Center and a UVEST Investment Services® brokerage office 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 #909911109.

UNITED BANCORP, INC. MARTINS FERRY, OH

Symbol “UBCP”

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.

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United Bancorp, Inc. Announces Cash Dividend Payment of 13¢ per Share

MARTINS FERRY, OHIO ••• On February 24, 2004, 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 9, 2004 with a payment date of March 19, 2004. On an annualized basis this represents a projected $0.52 per share to be paid in 2004, an 10% increase compared to $0.48 per share paid in 2003, adjusted for the 10% stock dividend distributed on December 20, 2003. James W. Everson, Chairman, President and Chief Executive Officer stated this increase reflects the positive historic growth of UBCP and its subsidiary banks, The Citizens Savings Bank of Martins Ferry, Ohio and The Community Bank of Lancaster, Ohio.

United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $386 million and total shareholder equity of approximately $32.5 million as of December 31, 2003. 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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United Bancorp, Inc. Reports Record Earnings reflecting an increase of 16% for  2003 and 10% for the three months ended December 31, 2003.

MARTINS FERRY, OHIO ¨¨¨ United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported record earnings of $3,639,391 for 2003 compared to $3,220,163 for 2002. For the year basic earnings per share was $1.04 for 2003 compared to $0.90 for 2002, a solid increase of 16%.  Earnings for the three months ended December 31, 2003 were $0.32 per share compared to $0.29 in 2002, an increase of 10%.  The earnings per share data for 2002 was restated to give effect to the 10% share dividend paid in December 2003. UBCP’s total assets at December 31, 2003 were $385.5 million compared to $361.7 million at December 31, 2002, an increase of 6.6% or $23.8 million.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer, of UBCP remarked, “Our 2003 earnings generated a 0.97% return on average assets (“ROA”) and an 11.4% return on average equity (“ROE”) compared to a 0.94% ROA and 10.3% ROE for 2002”.  Greenwood also indicated that United Bancorp, Inc’s 2003 earnings have benefited from strong growth in depository account balances and related fee income. As a result, our noninterest income relating to depository accounts increased 18% or $175,496 over 2002. Realized gains from the sale of securities totaled $344,366 for 2003 compared to $320,485 for 2002, an increase of $23,881 or 7%. With the low interest rate environment in 2003, the Company’s secondary market mortgage program generated a gain of $286,832 compared to $179,683 for 2002, an increase of $107,149 or 60%. Other noninterest income increased $245,867 or 40% in 2003.  The largest component of other noninterest income is the earnings on bank owned life insurance contracts, which increased $191,000 from 2002 to 2003.

James W. Everson, Chairman, President & CEO, stated, “We are very pleased to report our 16% increase in annual earnings which at $1.04 per share exceeded analyst expectation for 2003.  Our Board Members, Management and Team Members have spent many hours this past year on strategic planning at both company and affiliate bank levels.  As a result of this planning, our focus has been on the improvement of shareholder value through improved products, services and profitability. The marketplace has reacted favorably and we are pleased that UBCP stock price increased by over 50% this year as compared to a 17% increase for the S&P Bank Index. Following our mission of providing consistent returns to our shareholders, our Board paid a 10% share dividend in the fourth quarter resulting in a 10% increase in our quarterly cash dividend payment.   This combination of increased cash and share dividends reflects our strong operating performance and the positive growth of our affiliate banks, The Citizens Savings Bank of Martins Ferry and The Community Bank of Lancaster, Ohio.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $386 million and total shareholder’s equity of approximately $33 million as of December 31, 2003.  Affiliates of UBCP include The Citizens Savings Bank and The Community Bank with seventeen banking offices, an Operations Center and a UVEST Investment Services® brokerage office 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. MARTINS FERRY, OH

Symbol “UBCP”

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.