United Bancorp, Inc. Reports 15.14% Increase in 12 Month Earnings 

MARTINS FERRY, OHIO United Bancorp, Inc., Martins Ferry, Ohio reported 12 month earnings of $2,583,989, representing a 15.14% increase over 1995 reported earnings of $2,244,135. Earnings per share for the current year were $1.27 on 2,033,385 shares compared to 1995 per share earnings of $1.10. Shareholders in 1996 received cash dividend payments of 43¢ per share compared to 38¢ per share in 1995, an increase of 13.16%. These comparisons take into consideration the 10% share dividend paid to shareholders on June 20, 1996. Return On Average Assets for the year ended December 31, 1996 was 1.32% and Return On Average Equity was 13.49% compared to the previous year's twelve month performance of 1.18% Return On Average Assets and 12.85% Return On Average Equity. 

United Bancorp, Inc. posted fourth quarter earnings of $647,247, representing a 13% growth factor as compared to $572,795 for the fourth quarter ended December 31, 1995. Earnings per share for the fourth quarter of 1996 were 32¢ compared to 28¢ for the fourth quarter of 1995. On an annualized basis, fourth quarter earnings generated a 1.32% Return On Average Assets and a 13.52% Return On Average Equity. 

James W. Everson, President and Chief Executive Officer of United Bancorp, Inc. stated that he and his Management Team are very pleased with the 1996 earnings performance. This growth in earnings of over 15% to the bottom line reflects an increase in net interest income of 6.2%, an increase in non-interest income of 5.1% and non-interest operating expenses held to an increase of only 2.2%. The cost containment in overhead expenses was in part attributable to the Company's consolidation of the item processing function of its two subsidiaries, The Citizens Savings Bank and The Citizens-State Bank into the recently upgraded Operations Center in Martins Ferry, Ohio. This centralization of support functions helped achieve the successful introduction of check imagery statement processing for customers of all United Bancorp, Inc. banking locations. 

United Bancorp, Inc. with total assets of $202.4 million is headquartered in Martins Ferry, Ohio and is a multi-bank holding company whose subsidiaries are The Citizens Savings Bank with offices in Bridgeport, Colerain and Martins Ferry, Ohio and The Citizens-State Bank of Strasburg with offices in Strasburg, Dellroy, Dover, Sherrodsville and New Philadelphia, Ohio. The Company's common stock trades on The NASDAQ SmallCap Market tier of The NASDAQ Stock Market under the symbol UBCP.  

United Bancorp, Inc. Announced First Quarter Earnings and Declares a Regular 11¢ Cash Dividend 

MARTINS FERRY, Ohio - United Bancorp, Inc., Martins Ferry, Ohio, (UBCP) reported first quarter earnings of $678,434, representing a 4.81% increase over March 31, 1996 totals or 33¢ per share on 2,033,385 shares outstanding for the quarter ended March 31, 1997. This compares to 32¢ per share for the first quarter of 1996, adjusted for the 10% share dividend distributed in June of 1996. 

Assets of UBCP increased to $204,409,169 at March 31, 1997 compared to $202,364,858 at December 31, 1996. Total shareholders' equity increased to $20,282,900 at March 31, 1997 compared to $20,016,011 at December 31, 1996. Based on first quarter earnings, UBCP generated a Return on Average Assets (ROA) of 1.34% (Annualized) and a Return on Average Equity (ROE) of 13.41% (Annualized). James W. Everson, Chairman, President & CEO of UBCP, stated the current quarter's earnings reflect the continued efforts of Bank Management to generate increased interest income through competitive pricing and servicing of the many product offerings available to our diverse market areas. Everson continued by stating our focus on maximizing efficiencies within our operational support areas has yielded continued cost containment while customer service support capabilities have increased significantly for all UBCP Banking locations. 

The Board of Directors of United Bancorp, Inc. met directly following the Company's Annual Meeting of Shareholders on April 16, 1997 and declared an 11¢ per share cash dividend for shareholders of record on May 20, 1997, payable on June 20, 1997. 

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company whose subsidiaries include The Citizens Savings Bank with offices in Bridgeport, Colerain and Martins Ferry, Ohio and The Citizens-State Bank with offices in Strasburg, Dellroy, Dover, Sherrodsville and New Philadelphia, Ohio. The Company 's common stock trades on The Nasdaq SmallCap Market tier of The Nasdaq Stock Market under the symbol UBCP. 

United Bancorp, Inc. Continues Earnings Growth 

MARTINS FERRY, Ohio - United Bancorp, Inc., Martins Ferry, Ohio, (UBCP) reported second quarter earnings of $692,508 or 5.31% over second quarter earnings for 1996, yielding 34¢ per share. Six month earnings of $1,370,942 or 5.06% over the same period in 1996 yielded 67¢ earnings per share compared to 64¢ for 1996. 

The Company's annualized Return on Average Assets (ROA) of 1.35% projected for 1997 compares favorably against last year's actual performance of 1.32%. Annualized Return on Average Equity of 13.40% projected for 1997 is below 1996's actual performance of 13.49%. 

Total assets of the Company increased to $205,637,561 at June 30, 1997, up slightly from $ 202,364,858 at December 31, 1996. Total shareholder equity increased to $20,986,819 at June 30, 1997, an increase of 4.85% over $20,016,011 at December 31, 1996. 

James W. Everson, Chairman, President and CEO of United Bancorp, Inc. stated that Management is pleased with the Company's year to date and quarterly earnings performance. "Four of our offices are operating in an economic environment where there is a record nine month work stoppage in progress resulting from the Wheeling - Pittsburgh Steel Company labor dispute. Also, we have just started two new programs which have had front end start up costs. Our Secondary Market Real Estate Mortgage Program is now starting to generate fee income and our In-Store St. Clairsville branch is now open." Everson concluded by stating that future earnings and shareholder value will be positively impacted by these two new expansions. 

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company whose affiliates include The Citizens Savings Bank with offices in Bridgeport, Colerain, St. Clairsville and Martins Ferry, Ohio and The Citizens-State Bank with offices in Strasburg, Dellroy, Dover, Sherrodsville and New Philadelphia, Ohio. The Company trades in the Small Cap Market of the NASDAQ under the symbol UBCP. 

United Bancorp, Inc. Announces 10% Share Dividend and Cash Dividend Payment Increase to 12¢ per Share 

MARTINS FERRY, Ohio - On August 19, 1997, the Board of Directors of United Bancorp, Inc. (UBCP) declared a 10 percent share dividend for shareholders of record on September 2, 1997, and increased the quarterly cash dividend payment from 11¢ per share to 12¢ per share. On September 19, 1997, shareholders of record will receive an additional stock certificate equal to 10% of their present holdings plus a check representing any fractional share based on the bid price of UBCP on record date. Also enclosed with the mailing will be the third quarter dividend check in the amount of 12¢ per share on total holdings including the new share dividend. This will result in a 20% increase in the third quarter dividend check. 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. With this increase, we are paying 38% of our quarterly earnings to our shareholders. 

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 positive 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 and 1996. Everson stated those holding ten shares of Citizens Savings Bank stock in 1970 will now hold 1,277 shares of UBCP stock. 

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company whose affiliates are The Citizens Savings Bank with offices in Bridgeport, Colerain, St. Clairsville and Martins Ferry, Ohio and The Citizens-State Bank with offices in Strasburg, Dellroy, Dover, Sherrodsville and New Philadelphia, Ohio. The Company's common stock trades on The Nasdaq SmallCap Market tier under the symbol UBCP, CUSIP #90991109.  

United Bancorp, Inc. Declares Quarterly Dividend 

MARTINS FERRY, Ohio - On November 18, 1997, the Board of Directors of United Bancorp, Inc. (UBCP) declared a 12¢ per share cash dividend payment for shareholders of record on December 1, 1997, payable on December 19, 1997. James W. Everson, Chairman, President & Chief Executive Officer of United Bancorp, Inc. stated this represents a 12.8% increase on an annualized basis of 48¢ per share compared to what was paid in 1996, taking into consideration the 10% share dividend paid on September 19, 1997 and the 10% share dividend paid on June 20, 1996. In a Press Release issued on October 20, 1997, UBCP reported nine month earnings of $2,083,887, an increase of 7.6% over the same period in 1996 or 92¢ per share for the nine months ended September 30, 1997 compared to 86¢ per share, adjusted for the September 19, 1997 share dividend. 

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a multi-bank holding company whose affiliates are The Citizens Savings Bank with offices in Bridgeport, Colerain, St. Clairsville and Martins Ferry, Ohio and The Citizens-State Bank with offices in Strasburg, Dellroy, Dover, Sherrodsville and New Philadelphia, Ohio. The Company trades on The Nasdaq SmallCap Market tier of the Nasdaq Stock Market under the symbol UBCP, Cusip #90991109. 

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The Citizens Savings Bank / The Community Bank

Updated as of 12/1/2000