United Bancorp, Inc. Announces Cash Dividend Payment of $0.13 per Share 

MARTINS FERRY, OHIO ••• On November 20, 2007, the Board of Directors of United Bancorp, Inc. (UBCP) declared a quarterly cash dividend payment of $0.13 per share for shareholders of record on November 30, 2007, payable on December 20, 2007. 

James W. Everson, Chairman, President and CEO of United Bancorp stated, “Our company was pleased to announce on November 1st a 37% increase in earnings over the previous year’s nine months performance and, accordingly, has reaffirmed our long-standing practice of paying a quarterly cash dividend to our shareholders. The increase in earnings positively reflects on the difficult decisions made and changes implemented during this challenging year. As previously mentioned, our affiliate banks’ began the merger process into one charter at mid-year. This process was effectively completed on October 31st and should lead to improved earnings performance more inline with our expectations over the course of the coming quarters. After much discussion and consideration, our Board of Directors concluded it best to forego our share dividend practice until we reach our projected levels of normal earnings performance resulting from these decisions.” Everson concluded by stating, “Our Management Team firmly believes that our identified problems are now behind us and we are pleased to report that we are not presently confronted with the issues that others within our industry are facing as it relates to the emerging sub-prime mortgage issue.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $442.1 million and total shareholder’s equity of approximately $32.1 million as of September 30, 2007. Through its seventeen banking offices and operations center, The Citizens Savings Bank serves the Ohio Counties of Athens, Belmont, Carroll, Fairfield, Harrison, Hocking, Jefferson and Tuscarawas. The Company trades on The NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #909911109.

Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements, which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

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United Bancorp, Inc. Reports Earnings per Share of $0.41 per share for the Nine Months Ended September 30, 2007, an increase of 37%

MARTINS FERRY, OHIO ••• United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $1,874,000 and $1,392,000 for the nine months ended September 30, 2007 and 2006, respectively. On a per share basis, the Company’s basic earnings were $0.41 for 2007, as compared to $0.30 for 2006, an increase of 36.7%. Earnings per share data for 2006 gives effect to the 10% stock split paid in the form of a dividend in December 2006. Third quarter 2007 earnings were $0.09 compared to $0.09 in for the third quarter of 2006.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer remarked, “The Company’s nine month earnings in 2007 generated an annualized 0.59% return on average assets (“ROA”) and an 7.9% return on average equity (“ROE”) compared to 0.45% ROA and 5.9% ROE for the comparable nine month period in 2006. With the recent more positive slope of the treasury yield curve and the lower cost of short term funds, we are projecting improvement in the Company’s net interest margin in the fourth quarter of 2007. Service charge income on deposit accounts for the nine months ended September 30, 2007 increased $312,000 which reflects the positive impact of a courtesy overdraft program implemented by the Company in late 2006. During the third quarter of 2007, the Company recorded costs of $160,000 relating to the recent charter merger. On an after tax basis, these non recurring expenses amounted to $0.02 per share. Without this item the Company’s earnings per share for the three months ended September 30, 2007 would have been $0.11 compared to $0.09 for the third quarter of 2006, an increase of 22.2%.”

James W. Everson, Chairman, President and Chief Executive Officer stated, “As announced last quarter, we struck July 1st as the start date ‘for accounting purposes’ of the merger of The Community Bank with and into The Citizens Savings Bank. The ‘physical consolidation’ of our two charters under the management group of The Citizens Savings Bank was completed on October 31st resulting in a 22% reduction in staffing at The Community Bank division. Our flat third quarter earnings reflect the cost of employee severance payments to accomplish this which should translate into improved earnings moving forward into the fourth and future quarters. As reported in previous releases, we project a normalization of earnings to occur over the next twelve months as a result of enhanced operating and cost efficiencies to be realized from this consolidation. Having merged our bank charters into a single charter and common operating system, we shall save valuable resources and allow each of our offices to enhance our focus on growing our banking franchises by providing the highest level of customer service.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $442.1 million and total shareholder’s equity of approximately $32.1 million as of September 30, 2007. Through its seventeen banking offices and operations center, The Citizens Savings Bank serves the Ohio Counties of Athens, Belmont, Carroll, Fairfield, Harrison, Hocking, Jefferson and Tuscarawas. The Company trades on The NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #909911109.

UNITED BANCORP, INC. MARTINS FERRY, OH
Symbol “UBCP”

Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

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United Bancorp, Inc. Declares a Regular Cash Dividend Payment of $0.13 per Share 

MARTINS FERRY, OHIO ••• On August 21, 2007, the Board of Directors of United Bancorp, Inc. (UBCP) declared the third quarter dividend payment of $0.13 per share for shareholders of record on September 7, 2007, with a payment date of September 20, 2007. On an annualized basis this represents a projected $0.52 per share to be paid in 2007, an 8.3% increase compared to $0.48 per share paid in 2006, adjusted for the 10% share dividend distributed on December 20, 2006. 

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a bank holding company with total assets of approximately $432.3 million and total shareholder’s equity of approximately $30.6 million as of June 30, 2007. Through its seventeen banking offices and operations center, The Citizens Savings Bank serves the Ohio Counties of Athens, Belmont, Carroll, Fairfield, Harrison, Hocking, Jefferson and Tuscarawas. The Company trades on The NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #909911109.

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The Community Bank, a Division of The Citizens Savings Bank, to Focus on Customer Service with a 22% Reduction in Force by Consolidating Eight Duplicate Support Positions

MARTINS FERRY, OHIO ••• The Citizens Savings Bank held its first board meeting in Martins Ferry on July 10th, 2007 following the merger of The Community Bank with and into The Citizens Savings Bank on July 1st. United Bancorp, Inc. Chairman, President & CEO James W. Everson stated, “We expect the full integration of the two banks to be completed by year end. While each of the banks will be combined under the charter of Citizens, we intend to continue to capitalize on established branding in the markets of each institution. In that respect, Community will operate under the trade name “The Community Bank, a Division of The Citizens Savings Bank” and Citizens will operate under the trade name “The Citizens Bank, a Division of The Citizens Savings Bank”.

Everson continued, “Including Community Board members on the Board of the combined institution was essential if we are to realize the full potential of the combination. We are proud to announce The Community Bank Board members’ acceptance of the invitation to join The Citizens’ Board and firmly believe their extensive community involvement and knowledge of Athens and Fairfield Counties will provide a significant future benefit to our customers, employees and shareholders”.

Seated above are John R. Herzig, President, Toland-Herzig Funeral Homes, Strasburg-Dover; L.E. “Dick” Richardson, Jr., Retired President, Southern Ohio Community Bancorporation, Inc., Glouster; Herman E. Borkoski, President, Borkoski Funeral Homes, Inc., Tiltonsville; Andrew F. Phillips, President and General Manager, Miller Brands of South East Ohio, Glouster; Errol C. Sambuco, Consultant, Martins Ferry; Terry A. McGhee, President and CEO, Westerman, Inc., Bremen; Michael J. Arciello, Retired Vice President of Finance, Nickles Bakeries, Inc., Navarre; Scott A. Everson, Citizens President and CEO; James W. Everson, Citizens Executive Chairman; Samuel J. Jones, Business Owner, Glouster; Matthew C. Thomas, President, M.C. Thomas Insurance Agency, Bridgeport; Robin L. Rhodes, M.D., Physician, Pediatric Associates, Inc., Lancaster; Leon F. Favede, O.D., Optometrist, Bridgeport and Richard L. Riesbeck, President, Riesbeck Food Markets, Inc., St. Clairsville. Absent from the meeting with excuse, John M. Hoopingarner, General Manager, Muskingum Watershed Conservancy District, New Philadelphia.

Everson stated, “Merging of our charters into a single charter and common operating system will save valuable resources and allow each of our offices to focus on providing the highest level of customer service. Our quick loan approval policy that is practiced in our Tuscarawas and Belmont County Offices will be in place for our Athens and Fairfield County offices. Our customers want fast and exceptional service, which we are committed to providing. Going forward, we shall only have one set of board meetings, audits, loan reviews, budget processes, regulatory reporting requirements plus one operating platform. With fewer functions and operational support positions, we shall reduce time and money spent on duplicated efforts.”

“We are committed to our Shareholders to improve earnings through the efficiencies to be gained by this merger, knowing that earnings drive shareholder value. We are projecting benefits to begin in this fourth quarter resulting from the enhanced oversight of the seasoned Citizens Bank management team, the efficiencies to be gained through the elimination of duplicate operating functions resulting in a 22% reduction in force over the next ninety days and by taking the best that each bank offers, into one larger and stronger bank. Financial packages based on years of service have been offered to the eight whose positions are being consolidated.”

Everson concluded, “The combined charters will result in a $432.3 million asset institution with an expanded $5.5 million lending authority, plus improved products and services for our customers. Our Board of Directors and Management Group are excited about the many opportunities this new beginning provides and our entire bank team shares in this excitement that can lead to a renewal of increasing profitability, growth and physical expansion.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a bank holding company with total assets of approximately $432.3 million and total shareholder’s equity of approximately $30.6 million as of June 30, 2007. Through its seventeen banking offices and operations center, The Citizens Savings Bank serves the Ohio Counties of Athens, Belmont, Carroll, Fairfield, Harrison, Hocking, Jefferson and Tuscarawas. The Company trades on The NASDAQ Capital 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 $0.32 per share for the Six Months Ended June 30, 2007, an increase of 52.4%

MARTINS FERRY, OHIO ••• United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $1,482,000 compared to $989,000 for the six months ended June 30, 2007 and 2006, respectively. On a per share basis, the Company’s basic earnings per share were $0.32 for 2007 as compared to $0.21 for 2006, an increase of 52.4%. Earnings per share data for 2006 gives effect to the 10% stock split paid in the form of a dividend in December 2006. Second quarter 2007 earnings were $0.17 per share compared to $0.06 per share in 2006. Six months earnings for 2006 were impacted by a $561,000 after tax charge relating to the strategic repositioning of our Community Bank affiliate’s balance sheet which is now a division of the Company’s lead bank, The Citizens Savings Bank.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer remarked, “The Company’s six month earnings in 2007 generated an annualized 0.71% return on average assets (“ROA”) and an 9.7% return on average equity (“ROE”) compared to 0.48% ROA and 6.2% ROE for the comparable six month period in 2006. With the recent positive slope of the treasury yield curve, the rate of deterioration in our net interest margin has lessened and the compression of the Company’s net interest margin should stabilize in the next six months. Service charge income on deposit accounts for the six months ended June 30, 2007 increased $182,000 which reflects the positive impact of a courtesy overdraft program implemented by the Company in late 2006. We should continue to see increasing service charge results from this program in future quarters.”

James W. Everson, Chairman, President and Chief Executive Officer stated, “As reported last year, we took dramatic action in repositioning our balance sheet in June of 2006. Taking our 10% share dividend into consideration, we posted per share quarterly earnings at $0.06 in June 2006; $0.09 in September 2006, $0.15 in December and $0.16 in March 2007. Posting $0.17 in the second quarter of 2007, we continue to make solid progress in moving towards acceptable earnings, yet we continue to recognize we must do better. We are committed to improvement in earnings through the efficiencies to be gained by the merger on July 1st of our two affiliate bank charters and we are projecting additional benefits to begin in this fourth quarter by the enhanced oversight of the seasoned Citizens Bank management team.

As originally planned, we struck the July 1st quarter as the start date of the consolidation ‘for accounting purposes’ of the merger of The Community Bank with and into The Citizens Savings Bank. The ‘physical consolidation’ of our two charters under the management group of The Citizens Savings Bank will take between six and twelve months to complete”. Everson concluded by stating, “We are pleased with our progress of the past twelve months, yet we recognize much must be accomplished as we combine the synergies of Community and Citizens, taking the best that each bank offers, into one larger, stronger and more profitable bank. While each of the banks will be combined under the charter of Citizens, the Company intends to continue to capitalize on established branding in the markets of each institution. In that respect, Community will operate under the trade name ‘The Community Bank, a Division of The Citizens Savings Bank’ and Citizens will operate under the trade name ‘The Citizens Bank, a Division of The Citizens Savings Bank’. The Company expects a normalization of earnings to occur over the next twelve to eighteen months as a result of enhanced operating and cost efficiencies to be realized from the consolidation. In addition, the combined $432.3 million asset institution will have an expanded $5.5 million lending authority with improved products and services to its customers and will continue to provide quick loan approvals. As always, our lending efforts are directed toward quality loans, as we have steered clear of the sub-prime credits that have recently affected others within the financial services industry.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a bank holding company with total assets of approximately $432.3 million and total shareholder’s equity of approximately $30.6 million as of June 30, 2007. Through its seventeen banking offices and operations center, The Citizens Savings Bank serves the Ohio Counties of Athens, Belmont, Carroll, Fairfield, Harrison, Hocking, Jefferson and Tuscarawas. The Company trades on The NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #909911109.

UNITED BANCORP, INC. MARTINS FERRY, OH
Symbol “UBCP”

Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

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UNITED BANCORP, INC. REPORTS SUBSIDIARIES MERGED

MARTINS FERRY, OHIO ••• On July 1, 2007, United Bancorp, Inc. (“Company”), Martins Ferry, Ohio, successfully effected the merger of its wholly-owned subsidiaries, The Glouster Community Bank (“Community”), Lancaster, Ohio, and The Citizens Savings Bank (“Citizens”), Martins Ferry, Ohio, under the charter of the latter. The Boards of both Citizens and Community have endorsed the consolidation, and the Company has received all necessary approvals from the Federal Deposit Insurance Corporation and the Ohio Division of Financial Institutions. 

The Company expects the full integration of the two organizations to be completed by year end. While each of the banks will be combined under the charter of Citizens, the Company intends to continue to capitalize on established branding in the markets of each institution. In that respect, Community will operate under the trade name “The Community Bank, a Division of The Citizens Savings Bank” and Citizens will operate under the trade name “The Citizens Bank, a Division of The Citizens Savings Bank”. The Company expects earnings improvement to occur over the next twelve to eighteen months as a result of enhanced operating and cost efficiencies to be realized from the consolidation. In addition, the combined institution will have an expanded $5 million lending authority and offer improved products and services to its customers. A key focus of the consolidation involves the centralization of executive authority under Citizens’ proven management structure. Citizens’ performance has been perennially ranked in the upper quartile of all banks in the United States. James W. Everson, Chairman, President and CEO of United Bancorp, Inc. stated, “Citizens’ quick loan approval policy that is practiced in our Tuscarawas and Belmont County Offices will be in place for our Athens and Fairfield County offices.” 

Everson continued, “Including Community Board members on the Board of the combined institution was essential if the Company was to realize the full potential of the combination. We are pleased to report that Samuel J. Jones, Business Owner, Glouster, Ohio; Terry A. McGhee, President and CEO, Westerman, Inc., Bremen, Ohio; Andrew F. Phillips, President and General Manager, Miller Brands of South East Ohio, Glouster, Ohio; Robin L. Rhodes, M.D., Physician, Pediatric Associates of Lancaster, Inc., Lancaster, Ohio; and L.E. “Dick” Richardson, Jr., Retired President, Southern Ohio Community Bancorporation, Inc., Glouster, Ohio have accepted the Company’s invitation to become members of The Citizens Savings Bank Board.” Everson concluded, “We are proud to announce their acceptance and firmly believe their extensive community involvement and knowledge of Athens and Fairfield Counties will provide a significant future benefit to our customers, employees and shareholders.”

United Bancorp, Inc. is a registered bank holding company headquartered in Martins Ferry, Ohio with total consolidated assets of approximately $422.1 million and total shareholder's equity of approximately $32.8 million as of March 31, 2007. Through its seventeen banking offices and operations center, The Citizens Savings Bank serves the Ohio Counties of Athens, Belmont, Carroll, Fairfield, Harrison, Hocking, Jefferson and Tuscarawas. The Company trades on The NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #909911109.

Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

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United Bancorp, Inc. Reports Earnings and Declares a Cash Dividend

MARTINS FERRY, OHIO ••• United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $718,000 compared to $702,000 for the three months ended March 31, 2007 and 2006, respectively. On a per share basis, basic earnings per share was $0.16 for 2007 as compared to $0.15 for 2006, an increase of 6.7%. Earnings per share data for 2007 gives effect to the 10% stock split paid in the form of a dividend in December 2006. On April 18, 2007, the Board of Directors declared the second quarter dividend payment of $0.13 per share for shareholders of record on May 25, 2007, with a payment date of June 20, 2007. This dividend represents a projected annual dividend of $0.52 per share paid in 2007, an 8% increase over the $0.48 per share annual dividend paid in 2006.

Randall M. Greenwood, Senior Vice President, CFO and Treasurer remarked, “The Company’s first quarter earnings in 2007 generated an annualized 0.69% return on average assets (“ROA”) and an 8.8% return on average equity (“ROE”) compared to 0.68% ROA and 8.7% ROE for first quarter 2006. The first quarter 2007 earnings increase was due primarily to a decrease in non interest expense and an increase in the level of service charges on deposit accounts.”

James W. Everson, Chairman, President and Chief Executive Officer stated, “We took dramatic action in repositioning our balance sheet last year. Taking our 10% share dividend into consideration, we posted earnings at $0.06 in June; $0.09 in September and $0.15 in December’s quarter. Posting $0.16 this first quarter of 2007, we continue to make solid progress in moving towards acceptable earnings, yet we recognize we must do better. Our management group is committed to doing better with the efficiencies to be gained through our action plan to merge our affiliate charters.

At mid year 2006, our focus was on preserving the charter of The Community Bank with its own management group. This focus was significantly changed in the third quarter when we experienced a $1.25 million loan loss that was originated by Community and partially participated at Citizens. A loss of this magnitude literally changed our course of action in the fourth quarter which led to the decision to merge The Community Bank charter into and under the proven management structure of The Citizens Savings Bank.

The necessary applications for this merger have been filed with The Ohio Division of Financial Institutions and the Federal Deposit Insurance Corporation. Approval is anticipated within the next few weeks. Our current plan is to strike the July 1st quarter beginning as the start date of the consolidation ‘for accounting purposes’. The ‘physical consolidation’ of our two charters under the management group of The Citizens Savings Bank will take between six and twelve months to complete.” Everson concluded by stating, “We are pleased with our progress of the past twelve months, yet we recognize much must be accomplished as we combine the synergies of Community and Citizens, taking the best that each bank offers, into one larger, stronger and more profitable bank. Our vision is to make this as transparent as possible to the markets and customers we serve by keeping The Community Bank as a division of The Citizens Savings Bank.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $422.1 million and total shareholder’s equity of approximately $32.8 million as of March 31, 2007. 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. 

Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

UNITED BANCORP, INC. MARTINS FERRY, OH
Symbol “UBCP”

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United Bancorp, Inc. Declares a Regular Cash Dividend Payment of $0.13 per Share

MARTINS FERRY, OHIO ••• On February 28, 2007, the Board of Directors of United Bancorp, Inc. (UBCP) declared the first quarter dividend payment of $0.13 per share for shareholders of record on March 9, 2007, with a payment date of March 20, 2007. On an annualized basis this represents a projected $0.52 per share to be paid in 2007, an 8.3% increase compared to $0.48 per share paid in 2006, adjusted for the 10% stock split paid in the form of a share dividend distributed in December 2006. James W. Everson, Chairman, President and Chief Executive Officer stated this increase follows with UBCP’s mission of providing consistent returns to its shareholders.

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $421.7 million and total shareholder’s equity of approximately $32.6 million as of December 31, 2006. 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 $0.15 for the Three Months ended December 31, 2006 and $0.45 for the Year ended December 31, 2006 and Announces Affiliate Consolidation Plan

MARTINS FERRY, OHIO ••• United Bancorp, Inc. (NASDAQ: UBCP), headquartered in Martins Ferry, Ohio reported earnings of $676,000 for the three months ended December 31, 2006, compared to $764,000 for the three months ended December 31, 2005. On a per share basis, basic earnings were $0.15 for the three months ended December 31, 2006 compared to $0.17 for the same period in 2005. Earnings for 2006 were $0.45 per share, compared to $0.71 in 2005. UBCP Chairman, President and CEO James W. Everson stated “We are pleased with the positive progression of our earnings for the fourth quarter as compared to the earnings reported in the second and third quarters of this year. Our fourth quarter earnings of $676,000, reflecting a substantial improvement over the two previous quarters, were once again negatively impacted by $264,000 of increased provisioning and asset disposal costs at our Community Bank affiliate. These additional costs reduced the Company’s after-tax earnings by approximately $0.04 per share for the fourth quarter. On a positive note, during the latter part of 2006 the overall economic environment in which The Citizens Bank operates continued to improve and show signs of economic expansion/stabilization in the steel, coal and aluminum industries.”

Randall M. Greenwood, Senior Vice President, CFO and Treasurer, of UBCP stated “The Company’s 2006 earnings represented an annualized 0.50% return on assets (“ROA”) and a 6.61% return on equity (“ROE”). The Company’s earnings for 2006 were negatively impacted by increased provisioning, as well as by continued pressure on the Company’s net interest margin which is a current industry challenge. Without the additional expense items, ROA would have been 0.74% and ROE of 9.83% for the year ended December 31, 2006. The net interest margin of the Company continued to decrease during 2006; however, the growth of the average loan portfolio of approximately $9.5 million, and an increase in the Company’s investment portfolio of $9.7 million did help offset the margin compression. We also continued to see strong deposit growth of approximately $23.1 million, or 7.5%, for 2006.”

Everson continued, “We are pleased with our progress over the past nine months as we have worked to improve the future profitability of our Company. The events of 2006 have required our Company’s senior management team to rapidly reassess corporate strengths and weaknesses. We have taken immediate actions that are now showing positive results, which reflect in our Company’s quarterly earnings increases these past three quarters. The focus of our efforts has resulted in a restructuring of our balance sheet and elimination of problem credits through additional loan loss provisions. These $1.5 million pre-tax initiatives during the year at Community negatively impacted our Company’s 2006 after-tax earnings by $0.22 per share.

We see continued earnings improvement during 2007 as we carry out our action plan of keeping our Community Bank franchise as a division and consolidating the charters of our two affiliates into The Citizens Bank. This plan has been endorsed by The Community Bank Board who recognizes that The Citizen Bank has a demonstrated compliant and responsible management team with strong financial performance consistently ranking in the top quadrant of its peer group.” Everson concluded by stating, “We are optimistic regarding our 2007 earnings as we see a more normalized earnings stream as well as operational efficiencies to be gained by this consolidation.”

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company with total assets of approximately $422.1 million and total shareholder’s equity of approximately $31.1 million as of December 31, 2006. 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 Capital Market tier of the Nasdaq Stock Market under the symbol UBCP, Cusip #909911109.

UNITED BANCORP, INC. MARTINS FERRY, OH
Symbol “UBCP”

Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

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