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November 18, 1999 United Bancorp, Inc. Announces 5% Share Dividend and Cash Dividend Payment of 13¢ per Share MARTINS FERRY, OHIO ??? On November 16, 1999, the Board of Directors of United Bancorp, Inc. (UBCP) declared a 5 percent share dividend for shareholders of record on December 1, 1999, and a quarterly cash dividend payment of 13¢ per share. On December 20, 1999, shareholders of record will receive an additional stock certificate equal to 5% 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 fourth quarter dividend check in the amount of 13¢ per share on total holdings including the new share dividend. This will result in a 5% increase in the fourth 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 46% 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 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 and a 5% share dividend in 1998. Everson concluded by stating those holding ten shares of Citizens Savings Bank stock in 1970 will now hold 1,408 shares of UBCP stock. United Bancorp, Inc. is headquartered in Martins Ferry, and is a
multi-bank holding company with total assets of approximately $296 million
and total shareholder equity of approximately $25.7 million as of September
30, 1999. Affiliates of UBCP include The Citizens Savings Bank and
The Community Bank with fourteen banking offices, one Loan Production Office
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.
September 15, 1999 James W. Everson Reappointed Chairman, President, and Chief Executive Officer of The Citizens Savings Bank MARTINS FERRY, Ohio, Sept. 15 -- The Board of Directors of The Citizens Savings Bank, Martins Ferry, Ohio has reappointed James W. Everson as Chairman, President, and Chief Executive Officer of The Citizens Savings Bank to fill the vacancy created by the untimely death of Harold W. Price. Everson, who also serves in the same capacity for United Bancorp, Inc., (Nasdaq: UBCP) Martins Ferry, Ohio began his banking career with The Citizens Savings Bank as a student employee in 1959 and was originally appointed the Bank's President and Chief Executive Officer in January of 1973. Everson held this position until April of this year at which time The Citizens-State Bank of Strasburg, Ohio under the leadership of Harold Price was consolidated into The Citizens Savings Bank. Everson stated, "Our entire bank family is devastated by the unexpected death of Harold Price. Harold was a full service banker who brought his own unique style to the management of his people and the service of his customers. He will be very much missed, long remembered and always respected. Our thoughts and our prayers are with his family." The Citizens Savings Bank is an affiliate of United Bancorp, Inc.,
which is headquartered in Martins Ferry, and is a multi-bank holding company
with total assets of approximately $288 million and total shareholder equity
of approximately $26.0 million as of June 30, 1999. Affiliates of UBCP
include The Citizens Savings Bank and The Community Bank, Lancaster, Ohio
with fourteen banking offices, one Loan Production Office 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.
August 23, 1999 United Bancorp, Inc. Declares a Regular 13¢ Per Share Cash Dividend MARTINS FERRY, OHIO ... On August 17, 1999, the Board of Directors of United Bancorp, Inc. (UBCP) declared a quarterly cash dividend of 13¢ per share for shareholders of record on September 1, 1999, with a payment date of September 20, 1999. On an annualized basis, this represents a projected 52¢ per share to be paid in 1999, a 10.6% increase over the 47¢ per share paid in 1998. James W. Everson, Chairman, President & Chief Executive Officer of UBCP stated that our shareholders will receive their dividend payment directly from UBCP’s stock transfer agent, American Stock Transfer & Stock Company. Everson further stated that he has received many positive comments from those participating in the Dividend Reinvestment Plan offered at no cost to UBCP shareholders. To enroll in the DRIP Program UBCP shareholders may contact American Stock Transfer & Trust Company toll-free at 1-800-278-4353. United Bancorp, Inc. is headquartered in Martins Ferry, and is a
multi-bank holding company with total assets of approximately $287 million
and total shareholder equity of approximately $25.8 million as of June
30, 1999. Affiliates of UBCP include The Citizens Savings Bank and
The Community Bank with all fourteen banking offices, one Loan Production
Office 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.
July 14, 1999 Reported Earnings Up 26% for the Quarter and 10% Year to Date MARTINS FERRY, OHIO ... United Bancorp, Inc. (NASDAQ UBCP), headquartered in Martins Ferry, Ohio, reported an increased in basic earnings per share of 26.3% and 10.2% for the three months and six months ended June 30, 1999, respectively. Annualized six months earnings generated a 1.05% return on average assets and an 11.26% return on average equity. Randall M. Greenwood, Vice President and Chief Financial Officer stated these comparisons take into consideration the 5% share dividend paid to shareholders on December 18, 1998. Greenwood further stated the 1998 financial results have been restated to include the results of UBCP’s July 1998 acquisition of Southern Ohio Community Bank Corporation, which was completed using an exchange of stock under the pooling of interest accounting method. Additionally, Greenwood stated that during the six months ended June 30, 1999 approximately $150,000 of non-recurring costs were incurred related to the Company’s expansion strategy. Without consideration of these costs, basic earnings per share would have posted an approximate 18% increase for the six months ended June 30, 1999. James W. Everson, Chairman, President & Chief Executive Officer stated that his Management Team is pleased with the financial results and the positive impact our expansion plans are having on the Company. We are aggressively growing our franchise, which requires non-recurring expenses that provide for future growth in earnings and shareholder value. Our franchise growth in 1999 includes the opening of a full service Brokerage division of The Citizens Savings Bank known as Brokerage United with securities provided through Raymond James Financial Services, Inc., member NASD/SIPC; a Loan Production Officer in Lancaster, Ohio, and the acquisition of a branch in Jewett, Ohio. Everson continued by stating renovation has begun on The Community Bank’s new headquarters in downtown Lancaster, Ohio. This Main Office renovation and construction of a full service drive thru on the East Side of Lancaster will be completed in the fourth quarter of this year and will provide a solid base to grow The Community Bank franchise and enhance shareholder value. United Bancorp, Inc. is headquartered in Martins Ferry, and is a
multi-bank holding company with total assets of approximately $288 million
and total shareholder equity of approximately $26.0 million as of June
30, 1999. Affiliates of UBCP include The Citizens Savings Bank and
The Community Bank with all fourteen banking offices, one Loan Production
Office 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.
May 17, 1999 The Citizens Bank now has ten banking locations MARTINS FERRY, OHIO….The merger of The Citizens-State Bank, Strasburg, Ohio into The Citizens Savings Bank, Martins Ferry, Ohio has been completed. Citizens Bank customers may now bank interchangeably at all ten of their full service banking locations in Martins Ferry, Bridgeport, Colerain, St. Clairsville and Jewett as well as their locations in Dellroy, Dover, Sherrodsville, Strasburg and New Philadelphia, Ohio. James W. Everson, Chairman of the Board of The Citizens Savings Bank announced that with the completion of the merger of the two bank charters, Harold W. Price has been appointed President and Chief Executive Officer. Everson will continue in the bank’s management as an active Chairman. “Harold Price joined our holding company management team when he was appointed President and CEO of The Citizens-State Bank of Strasburg, Ohio in May 1993. Under Price’s leadership, The Citizens-State Bank has grown from a $20 million asset based two office bank to a highly profitable $75 million bank of five full service locations at the time of its merger into The Citizens Savings Bank,” Everson stated. “With his new assignment to continue the growth of the consolidated ten offices of The Citizens Savings Bank and to realign its management team, Price has relocated to the Ohio Valley.” Price stated that he is excited about his new assignment. “I really know all the team members at both banks and look forward to bringing their synergies and skills together. Bringing two strong bank boards and two strong bank teams together into one stronger banking organization really makes a lot of sense for us now and will allow for expanded customer service over a much larger geographic area and an expanded opportunity for advancement for our banking associates”. The former directors of The Citizens-State Bank have joined The Citizens Savings Bank Board . Price began his banking career at The Harter Bank in Canton, Ohio upon graduating from Miami University. He left Harter to become the President of The Exchange Bank of Canal Fulton in 1978. The Exchange Bank was acquired by The Old Phoenix Bank, Medina, Ohio. Price was serving as the Executive Vice President and senior loan officer of Old Phoenix at the time he joined The Citizens-State Bank in 1993. Everson’s entire banking career has been with The Citizens Savings
Bank, which began upon graduating from The Ohio State University in 1961.
He was appointed President and CEO in 1973 and led its growth from a single
$18 million dollar banking office to its present multi bank holding company
with two banking charters and fourteen full service banking locations,
an operations center and loan production office with over $285 million
in assets. Everson in addition to serving as Chairman of The Citizens
Savings Bank and The Community Bank of Lancaster, Ohio will continue to
be the Chairman, President and CEO of United Bancorp, Inc., Martins Ferry,
Ohio
No Liability in much publicized Schwartz Mobile Home transaction MARTINS FERRY, OHIO ¨ ¨ ¨ James W. Everson, Chairman, President and CEO of United Bancorp, Inc. announced today after several inquiries from the shareholder community that United Bancorp through its subsidiaries do serve in the market place of the Tuscarawas County area but want to clarify that we have no liability in the much publicized Schwartz Mobile Home transaction. We want to assure our shareholders we hold no risk directly or indirectly from that transaction. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $287 million and total shareholder equity of approximately $27.0 million as of March 31, 1999. Affiliates of UBCP include The Citizens Savings Bank and The Community Bank with all fourteen banking offices, one Loan Production Office and an Operations Center located in Ohio serving Athens, Belmont, Carroll, Fairfield, Harrison, Hocking and Tuscarawas Counties. The Company trades on The Nasdaq SmallCap Market tier of the Nasdaq Stock Market under the symbol UBCP, Cusip #90991109. United Bancorp, Inc. Declares a Regular 13¢ Per Share Cash Dividend MARTINS FERRY, OHIO ??? On April 21, 1999, the Board of Directors of United Bancorp, Inc. (UBCP) declared a quarterly cash dividend of 13¢ per share for shareholders of record on June 1, 1999, with a payment date of June 18, 1999. On an annualized basis, this represents a projected 52¢ per share to be paid in 1999, a 10.6% increase over the 47¢ per share paid in 1998. James W. Everson, Chairman, President & Chief Executive Officer of UBCP stated that our shareholders will receive their dividend payment directly from UBCP’s stock transfer agent, American Stock Transfer & Stock Company. Everson further stated that he has received many positive comments from those participating in the Dividend Reinvestment Plan offered at no cost to UBCP shareholders. To enroll in the DRIP Program UBCP shareholders may contact American Stock Transfer & Trust Company toll-free at 1-800-278-4353. United Bancorp, Inc. is headquartered in Martins Ferry, and is a
multi-bank holding company with total assets of approximately $287 million
and total shareholder equity of approximately $27.0 million as of March
31, 1999. Affiliates of UBCP include The Citizens Savings Bank and
The Community Bank with all fourteen banking offices, one Loan Production
Office and an Operations Center located in Ohio serving Athens, Belmont,
Carroll, Fairfield, Harrison, Hocking and Tuscarawas Counties. The Company
trades on The Nasdaq SmallCap Market tier of the Nasdaq Stock Market under
the symbol UBCP, Cusip #90991109.
United Bancorp, Inc. Reports First Quarter Earnings and Expansion Plans MARTINS FERRY, OHIO ¨ ¨ ¨ United Bancorp, Inc. (UBCP),
headquartered in Martins Ferry, Ohio, reported first quarter earnings per
share (basic) of 30¢ compared to the same amount reported for the
first quarter of 1998. On an annualized basis this represents a $1.20 per
share compared to $1.13 earned for the fiscal year 1998, projecting an
increase of 6.2%. Annualized, first quarter earnings generated a 1.16%
return on average assets and a 12.2% return on average equity. Randall
M. Greenwood, Vice President and Chief Financial Officer, stated comparisons
take into consideration the 5% share dividend paid to shareholders on December
18, 1998. Greenwood further stated the 1998 financial results have been
restated to include the results of UBCP’s July 1998 acquisition of Southern
Ohio Community Bank Corporation, which was completed using an exchange
of stock under the "pooling of interest accounting method". This restatement
created an uptick in the base 1998 comparison period. Additionally, Greenwood
stated that during the
James W. Everson, Chairman, President & Chief Executive Officer
stated that his Management Team is pleased with financial results of the
first quarter. We are aggressively growing our franchise which requires
non reoccurring expenses that provide for future growth in earnings and
shareholder value. During the past quarter, United Bancorp, Inc. through
its affiliate banks has expanded with a Loan Production Office in Lancaster,
Ohio, the acquisition of a branch in Jewett, Ohio, and the opening of a
full service brokerage division of The Citizens Savings Bank to be known
as Brokerage United with securities provided through Raymond James Financial
Services, Inc., member NASD/SIPC. Everson continued by stating that further
expansion is planned in the Lancaster community and an application has
been filed with the Ohio Division Of Financial Institutions to relocate
the headquarters of The Community Bank to Lancaster and ground has been
purchased to build a full service drive in facility east of the newly proposed
Main Office, which is to be located in downtown Lancaster. "The economic
growth occurring in Fairfield County, of which Lancaster is the
United Bancorp, Inc. is headquartered in Martins Ferry, and is a
multi-bank holding company with total assets of approximately $287 million
and total shareholder equity of approximately $27 million as of March 31,
1999. The announced merger of The Citizens-State Bank of Strasburg into
The Citizens Savings Bank of Martins Ferry, Ohio occurred on April 21,
1999. Affiliates of UBCP now include The Citizens Savings Bank and The
Community Bank with all fourteen banking offices, one Loan Production Office
and an Operations Center located in Ohio serving Athens, Belmont, Carroll,
Fairfield, Harrison, Hocking and Tuscarawas Counties. The Company trades
on The Nasdaq
United Bancorp, Inc. Declares a Regular 13¢ Per Share Cash Dividend MARTINS FERRY, OHIO *** On February 16, 1999, the Board of Directors of United Bancorp, Inc. (UBCP) declared a quarterly cash dividend of 13¢ per share for shareholders of record on March 1, 1999, with a payment date of March 19, 1999. On an annualized basis, this represents a projected 52¢ per share to be paid in 1999, a 10.6% increase over the 47¢ per share paid in 1998. James W. Everson, Chairman, President & Chief Executive Officer of UBCP stated that our shareholders will receive their dividend payment directly from UBCP’s stock transfer agent, American Stock Transfer & Trust Company. Everson further stated that he has received many positive comments from those participating in the Dividend Reinvestment Plan offered at no cost to UBCP shareholders. To enroll in the DRIP Program UBCP shareholders may contact American Stock Transfer & Trust Company toll-free at 1-800-278-4353. United Bancorp, Inc. is headquartered in Martins Ferry, and is a multi-bank holding company with total assets of approximately $285 million and total shareholder equity of approximately $27.3 million as of December 31, 1998. Affiliates of UBCP include The Citizens Savings Bank with offices in Bridgeport, Colerain, Jewett, St. Clairsville and Martins Ferry, Ohio; The Citizens-State Bank with offices in Strasburg, Dellroy, Dover, Sherrodsville and New Philadelphia, Ohio and The Community Bank with offices in Nelsonville, Amesville and two offices in Glouster, Ohio. The Company trades on The Nasdaq SmallCap Market tier of the Nasdaq Stock Market under the symbol UBCP, Cusip #90991109. United Bancorp, Inc to merge The Citizens Savings Bank, Martins Ferry, Ohio and The Citizens State Bank, Strasburg, Ohio - Harold W. Price appointed President and Chief Executive Officer of The Citizens Savings Bank, Martins Ferry, Ohio MARTINS FERRY, OHIO…James W. Everson, Chairman, President and Chief Executive Officer of United Bancorp, Inc., Martins Ferry, Ohio, parent company of The Citizens Savings Bank of Martins Ferry, The Citizens State Bank of Strasburg and The Community Bank of Glouster, Ohio announced today the Board of Directors of United Bancorp (UBCP) have approved a forward thinking plan to further the growth of UBCP’s shareholder value, improve and expand customer service and provide for management succession. The Citizens State Bank of Straburg is to be merged into The Citizens Savings Bank of Martins Ferry under the new leadership of Harold W. Price as President and Chief Executive Officer. Everson who began his banking career as a student employee at The Citizens Savings Bank in 1959 was appointed its President and Chief Executive Officer in January 1973 and has led its growth from a single office $18 million asset based bank to a $285 million asset based holding company of three bank charters with fourteen full service banking offices and a fully modern Y2K compliant Operations Center providing banking services in Athens, Belmont, Carroll, Harrison and Tuscarawas counties. Everson was appointed President and Chief Executive of UBCP when it was founded in 1983 when the shareholder of The Citizens Savings Bank exchanged their stock for UBCP stock . Everson who continues as Chairman of the Board of The Citizens Savings Bank, Martins Ferry announced the appointment of Harold W. Price to succeed him as President and Chief Executive Officer of The Citizens Savings Bank. "Harold Price joined our UBCP bank team when he was appointed President and Chief Executive Officer of The Citizens State Bank of Strasburg in May 1993. Under Price’s leadership, The Citizens State Bank has grown from a $20 million asset based two office bank to a highly profitable $75 million five full service office bank." Everson stated. "With this new assignment to continue the growth of the consolidated ten offices of The Citizens Savings Bank and to realign its management team, Price will be relocating to the Ohio Valley." The Board of Directors of both Banks will be merged into one and the two bank’s management teams will be realigned to serve the resulting $225 million asset based bank which will have offices in Bridgeport, Colerain, Dellroy, Dover, Jewett, Martins Ferry, New Philadelphia, St. Clairsville, Sherrodsville and Strasburg, Ohio. Price stated that he is excited about the new challenges this assignment gives him. "I really know all the team members at both banks and look forward to bringing their synergies and skills together. Bringing two strong bank boards and two strong bank teams together into one stronger banking organization really makes a lot of sense for us now and will allow for expanded customer service over a much larger geographic area and an expanded opportunity for advancement for our banking associates". "With the rapid growth of United Bancorp, my position as its CEO has really become a full time job". Everson stated. The Citizens Savings Bank recently acquired the building adjoining its operation center in Martins Ferry formerly known as the Fullerton Bakery Building and plan to renovate the building into additional offices to house in part the executive offices of UBCP. "I really look forward to continuing the growth of United Bancorp shareholder value on a full time basis". UBCP expanded into Athens County last August when the Glouster Commnity Bank with offices in Amesville, Glouster and Nelsonville was acquired. "This will afford me the time to work with the Glouster Bank Board and Managaement Team in the growth of our banking franchise along the Route 33 corridor running from Athens, Ohio to Lancaster, Ohio." United Bancorp, Inc. is headquartered in Martins Ferry and is a multi-bank holding company with total assets of $000 million and total shareholder equity of $00.0 million. The Company trades on The Nasdaq SmallCap Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #90991109. United Bancorp, Inc. Reports a 64% increase in Fourth Quarter Earnings. MARTINS FERRY, OHIO ? ? ? United Bancorp, Inc., ("UBCP") headquartered in Martins Ferry, Ohio reported fourth quarter earnings per share (basic) of $0.36 compared to $0.22 for the fourth quarter of 1997, representing an increase of 64%. On an annualized basis, fourth quarter earnings generated a 1.50% Return on Average Assets and a 14.9% Return on Average Equity. Randall M. Greenwood, Vice President and Chief Financial Officer stated comparisons take into consideration the 5% share dividend paid to shareholders on December 18, 1998. Greenwood further stated the 1997 financial results have been restated to include the results of UBCP’s July 1998 acquisition of Southern Ohio Community Bancorporation ("Southern"). United Bancorp, Inc. reported 12 month earnings of $3,154,979, representing a 10.8% increase over 1997 reported earnings of $2,847,568. Increased performance is also reported with a 10.8% increase in earnings per share to $1.13 in 1998 from $1.02 in 1997. UBCP’s continued strong earnings performance during 1998 and particularly the fourth quarter are primarily the result of the 20.96% increase in non-interest income and active management of noninterest expense and lower provision for loan losses. Greenwood further stated Management’s focus for 1999 is to further improve the efficiency of our product delivery lines and backroom operations. James W. Everson, Chairman, President & CEO stated that he and his Management Team are very pleased with the overall performance during 1998, especially the strong fourth quarter performance compared to fourth quarter of 1997. Everson further stated the solid earnings growth was accomplished after payment of $185,000 after tax merger/integration costs incurred in the third quarter when Southern merged into UBCP and The Community Bank of Glouster ("Community") became UBCP’s third banking charter. Everson continued by stating the synergies and efficiencies of adding Community in mid 1998 had a positive effect of the strong growth during the fourth quarter of 1998 and further stated this trend should continue into 1999. The Citizens Savings Bank affiliate will expand to five locations on January 28th with the completion of the purchase of a full service banking facility in Jewett, Ohio which was announced in the fourth quarter of 1998. On a customer product level, we are extremely pleased with the strong growth of our Secondary Market Real Estate Mortgage Program. This along with the installation of additional ATM machines during second quarter 1998 and the fourth quarter and introduction of a MasterCard® Check Card demonstrates our focus on enhancing the delivery of quality financial services products to our customers that translates into enhanced shareholder value. United Bancorp, Inc. is headquartered in Martins Ferry, and is a
multi-bank holding company with total assets of approximately $285 million
and total shareholder equity of approximately $27.3 million as of December
31, 1998. Affiliates of UBCP include The Citizens Savings, The Citizens-State
Bank and The Community Bank with all fourteen offices 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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