United Bancorp, Inc. Announces 10% Share Dividend, Cash Dividend Payment of 13¢ per Share and Reaffirms Its Stock Buy Back Program

MARTINS FERRY, OHIO ••• On November 15, 2005, the Board of Directors of United Bancorp, Inc. (UBCP) declared a 10% share dividend and a quarterly cash dividend payment of 13¢ per share for shareholders of record on December 2, 2005 and approved the renewal of the company’s stock buy back program authorizing management to purchase up to $2,000,000 of UBCP common shares in the open market over the next two years. On December 20, 2005, 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 over a 14% current return to our shareholders which we hope will translate into a more favorable future pricing of our stock in the market.” 

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, 2004 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 21,700 shares of UBCP stock. In today’s dollars, an initial investment of $10,000 in 1970 is now valued in excess of $250,000 with a current projected annualized cash dividend of over $11,284.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $405.7 million and total shareholder’s equity of approximately $33.9 million as of September 30, 2005. 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.

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 Earnings per share of $0.66 for the Nine-months ended September 30, 2005.

MARTINS FERRY, OHIO ••• United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $2,529,000 compared to $2,629,000 for the nine-months ended September 30, 2005 and 2004, respectively. On a per share basis, basic earnings per share were $0.66 for the nine-months ended September 30, 2005 as compared to $0.68 for the same period in 2004, a decrease of 2.9%. Earnings per share data for the 2004 nine-month period gives effect to the 10% stock split paid in the form of a dividend in December 2004.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer, of UBCP remarked, “The Company’s 2005 nine-months earnings generated an annualized 0.84% return on average assets (“ROA”) and an annualized 10.3% return on average equity (“ROE”) compared to 0.91% ROA and 10.4% ROE for the same period in 2004.” During the nine-months ended September 30, the Company’s core pre-tax earnings increased $46,000. The relatively stable core earnings were supported by the 8.3% increase in loans, and an increase in noninterest income of 21% or $133,000. The $68,000 decline in pre-tax earnings for the nine-months ended September 30, 2005 compared to the same period in 2004 is attributable to an $114,000 reduction in cyclical gains on sale of loans and securities, which was partially offset by the aforementioned $46,000 increase in core earnings. The Company’s realized loss from the sale of securities and loans totaled $9,000 for the nine-months ended September 30, 2005 compared to gains of $105,000 for the same period in 2004, reflecting an $82,000 after-tax reduction.

James W. Everson, Chairman, President & CEO, stated, “Our core pre-tax earnings increase of $46,000 for the nine-months ended September 30, 2005 was also off-set by an increase in the Company’s effective tax rate from 2004 to 2005 as our focus has been to reduce our tax-free securities portfolio and grow the loan portfolio. Our continued expansion and growth of market share within the markets we serve has increased our loans outstanding which, for the first three quarters of 2005, has more than offset the pressure on our net interest margin as a result of a flat yield curve. The focus of the affiliate banks’ lending activities in the local markets they serve continues to help keep our credit quality strong, as evidenced by a low 0.23% of net charge-offs to average loans. This level of net charge-offs to average loans of 0.23% for the nine-months ended September 30, 2005 is near its lowest levels since the expansion of our Community Bank affiliate into Fairfield County in 2000.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $405.7 million and total shareholder’s equity of approximately $33.9 million as of September 30, 2005. 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
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. In order to comply with securities regulations and to treat all investors fairly, we will not disclose material non-public information to any shareholder. However, if a question recurs or raises an issue which we have not addressed in our public releases, we will consider including the information in our next public release. Please note that we do not hold conference calls, and that we do not intend to do so in the future.

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United Bancorp, Inc. Declares a Regular Cash Dividend Payment of 13¢ per Share and Authorizes Formation of an Employee Stock Ownership Plan

MARTINS FERRY, OHIO ••• On August 16, 2005, 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, 2005, with a payment date of September 20, 2005. On an annualized basis this represents a projected $0.52 per share to be paid in 2005, an 8.3% increase compared to $0.48 per share paid in 2004, adjusted for the 10% share dividend distributed on December 17, 2004.

James W. Everson, Chairman, President & Chief Executive Officer of UBCP announced the Board of Directors of United Bancorp, Inc. authorized the formation of the United Bancorp, Inc. and Subsidiary Banks’ Employee Stock Ownership Plan slated to be operational in the fourth quarter of this year. Everson stated the new ESOP will promote increased employee ownership in the company and shareholder liquidity.

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $403.5 million and total shareholder’s equity of approximately $33.8 million as of June 30, 2005. 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.

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United Bancorp, Inc. Reports Earnings per share of $0.45 for the Six-months ended June 30, 2005.

MARTINS FERRY, OHIO ••• United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $1,701,000 compared to $1,731,000 for the six-months ended June 30, 2005 and 2004, respectively. On a per share basis, basic earnings per share were $0.45 for the six-months ended for both June 30, 2005 and 2004. Earnings per share data for the 2004 quarter gives effect to the 10% stock split paid in the form of a dividend in December 2004.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer, of UBCP remarked, “The Company’s 2005 six-months earnings generated an annualized 0.85% return on average assets (“ROA”) and an annualized 10.6% return on average equity (“ROE”) compared to 0.90% ROA and 10.6% ROE for the same period in 2004.” During the six-months ended June 30, the Company’s core earnings increased $75,000. Core earnings improvements were driven by net interest income increasing 2.4% or $153,000 and service charges on depository accounts and other noninterest income increasing 8.0% or $85,000. The $30,000 decline in net earnings for the six-months ended June 30, 2005 compared to the same period in 2004 is attributable to an $88,000 after-tax reduction in cyclical gains on sale of loans and securities. The Company’s realized loss from the sale of securities and loans totaled $6,000 for the six-months ended June 30, 2005 compared to a gain of $95,000 for the same period in 2004, a decrease of $101,000 or $67,000 after-tax.

James W. Everson, Chairman, President & CEO, stated, “Our core earnings increased $75,000 for the six-months ended June 30, 2005 is due to our continued expansion and growth of market share within the markets we serve. Additionally, although earnings are down $30,000 from the six-month ended June 30, 2004 to June 30, 2005, we can see the value of our continued stock repurchase plan has made since we are reporting the same earnings per share for the six-month ended June 30, 2005 and 2004. Our increase in core earnings is attributed to the continuing growth in loans which have increased 8.2% comparing June 30, 2005 to June 30, 2004. The focus of the affiliate banks’ lending activities in the local markets they serve and credit quality is strong, as evidenced by a low 0.13% of net charge-offs to average loans. This level of net charge-offs to average loans of 0.13% for the for the six-months ended June 30, 2005 is at its lowest levels since the expansion of our Community Bank affiliate into Fairfield County in 2000.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $403.5 million and total shareholder’s equity of approximately $33.8 million as of June 30, 2005. 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
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. In order to comply with securities regulations and to treat all investors fairly, we will not disclose material non-public information to any shareholder. However, if a question recurs or raises an issue which we have not addressed in our public releases, we will consider including the information in our next public release. Please note that we do not hold conference calls, and that we do not intend to do so in the future.

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United Bancorp, Inc. Reports First Quarter 2005 Earnings per Share of $0.22 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 $821,000 compared to $856,000 for the quarter ended March 31, 2005 and 2004, respectively. On a per share basis, basic earnings per share were $0.22 for the quarters ended March 31, 2005 and 2004. On April 20, 2005 the Board of Directors declared the second quarter dividend payment of 13¢ per share for shareholders of record on May 27, 200 5, with a payment date of June 20, 2005. This dividend represents a projected annual dividend of 52¢ per share paid in 2005, an 8% increase over the 48¢ per share annual dividend paid in 2004. Earnings per share data for the 2004 quarter gives effect to the 10% stock spilt paid in the form of a dividend in December 2004.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer, of UBCP remarked, “First quarter earnings generated an annualized 0.83% return on average assets (“ROA”) and an annualized 10.3% return on average equity (“ROE”) compared to 0.90% ROA and 10.5% ROE for the same period in 2004”. During the first quarter of 2005, the Company’s core earnings increased $75,000. Core earnings improvements were driven by net interest income increasing 3.3% or $103,000 and service charges on depository accounts and other noninterest income increasing 5.5% or $29,000. The $35,000 decline in net earnings for the first quarter of 2005 compared to the same period in 2004 is attributable to an $81,000 after-tax reduction in cyclical gains on sale of loans and securities. The Company’s realized gains from the sale of securities and loans totaled $9,000 for the quarter ended March 31, 2005 compared to $122,000 for the quarter ended March 31, 2004, a decrease of $113,000.

James W. Everson, Chairman, President & CEO, stated, “Our core earnings increased $75,000 in the first quarter of 2005 due to our continued expansion and growth of market share within the markets we serve. Additionally, although earnings are down $35,000 quarter to quarter, we can see the value of our continued stock repurchase plan has made since we are reporting the same earnings per share for both quarters. Our increase in core earnings is attributed to the continuing growth in loans which are up 8.6% comparing March 31, 2005 to March 31, 2004. The focus of the affiliate banks’ lending activities in the local markets they serve and credit quality is strong, as evidenced by a low 0.27% of net charge-offs to average loans. This level of net charge-offs to average loans of 0.27% for the first quarter of 2005 is near its lowest levels since the expansion of our Community Bank affiliate into Fairfield County in 2000.”

The Annual Meeting of United Bancorp was held at 2:00 p.m. on Wednesday April 20, 2005. Directors James W. Everson, John M. Hoopingarner, Richard L. Riesbeck and Matthew C. Thomas were re-elected to a two-year term as Class of 2007. Those continuing to serve under previous election as Class of 2006 are Michael J. Arciello, Terry A. McGhee and L.E. Richardson. 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 $396 million and total shareholder’s equity of approximately $32 million as of March 31, 2005. 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
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. In order to comply with securities regulations and to treat all investors fairly, we will not disclose material non-public information to any shareholder. However, if a question recurs or raises an issue which we have not addressed in our public releases, we will consider including the information in our next public release. Please note that we do not hold conference calls, and that we do not intend to do so in the future.

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United Bancorp, Inc. Declares a Regular Cash Dividend Payment of 13¢ per Share

MARTINS FERRY, OHIO ••• On February 23, 2005, the Board of Directors of United Bancorp, Inc. (UBCP) declared the first quarter dividend payment of 13¢ per share for shareholders of record on March 8, 2005, with a payment date of March 18, 2005. On an annualized basis this represents a projected $0.52 per share to be paid in 2005, an 8.3% increase compared to $0.48 per share paid in 2004, adjusted for the 10% stock split paid in the form of a share dividend distributed in December 2004. James W. Everson, Chairman, President and Chief Executive Officer stated this increase reflects the positive core earnings 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, Ohio and is a multi-bank holding company with total assets of approximately $398 million and total shareholders’ equity of approximately $33 million as of December 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 #90991109.

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United Bancorp, Inc. Reports Diluted Earnings Per Share of $0.85 for the twelve months ended December 31, 2004 compared to $0.94 for the twelve months ended December 31, 2003

MARTINS FERRY, OHIO *** United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $3,233,000 compared to $3,639,000 for the twelve months ended December 31, 2004 and 2003, respectively. On a per share basis, diluted earnings per share were $0.85 for the twelve months ended December 31, 2004 compared to $0.94 for the same period in 2003, a decrease of 10%. Fourth quarter earnings, which were negatively impacted by higher pension costs and the absence of gains on sale of loans and securities, were $0.16 per share compared to the Company’s strongest quarterly performance in history of $0.29 per share in 2003. Earnings per share data gives effect to the 10% stock split paid in the form of a dividend in 2004.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer of UBCP, stated 2004 earnings generated a 0.83% return on average assets (“ROA”) and a 9.9% return on average equity (“ROE”). Greenwood also stated, “2004 was the second most profitable year in the Company’s history with core earnings providing a solid foundation for positive earnings growth in 2005. Contributing to the improvement in 2004 core earnings was a 9% growth in gross loans totaling $17 million. The $406,000 decline in net earnings is primarily attributable to a $318,000 after-tax reduction in cyclical gains on sale of loans and securities. During 2004 the Company experienced core earnings improvements with service charges on depository accounts up 14.9% or $167,000, while noninterest expense remained virtually unchanged at $10.4 million. The Company’s net interest income in 2004 also remained stable from 2003 as a result of the low interest rate environment that persisted throughout much of 2004. At December 31, 2004, gross outstanding loans comprised 54% of total assets as compared to 52% at December 31, 2003. The focus of the affiliate banks’ lending activities is in the local markets they serve and credit quality is strong, as evidenced by the positive trend of net charge-offs to average loans. Net charge-offs to average loans of 0.22% for 2004 is the lowest percentage of losses in our loan portfolio since the expansion of our Community Bank affiliate into Fairfield County in 2000.”

James W. Everson, Chairman, President & CEO, stated, “Our consolidated earnings performance in 2004, although less than our record results in 2003 is comprised of core earnings growth and reflects management’s strong control of noninterest expense. We have a solid foundation of financial performance at both affiliate banks to begin 2005 and we are looking to further expand our Community Bank franchise in Fairfield County. Our Community Bank affiliate earnings excluding security gains increased approximately $405,000 in 2004 compared to 2003 and we anticipate continued strong earnings growth in 2005 for this affiliate and our Citizens Bank affiliate.” 

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $398 million and total shareholders’ equity of approximately $33 million as of December 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
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.