secwatch.observer — SEC 8-K summary
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Issuer:     UNITED BANCORP INC /OH/ (UBCP)
CIK:        0000731653
Form:       8-K
Filed at:   2022-05-05T23:59:59+00:00
Accession:  0001104659-22-056488
Event type: earnings
Sentiment:  negative
Materiality: 0.55
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Q1 EPS $0.31 vs $0.33 record; net income $1.75M; NII up 3.7% but expenses jump 14.9%
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- Diluted EPS $0.31 and net income $1.75M vs $0.33/$1.91M in record Q1 2021.
- Net interest income rose $198k (+3.7%) as expense fell 37.3%; NIM 3.45% (down 4 bps).
- Noninterest income $987k (+6.5%); noninterest expense $661k (+14.9%) driven by staffing and wages.
- Credit quality: nonaccrual/30+ day past due $4.2M (0.9% of loans); net recovery of $29k; $500k reserve release.
- Book value $10.79 (down 3.5%) due to rate-driven AOCI hit; total equity $63.9M (8.7% of assets).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/731653/000110465922056488/0001104659-22-056488-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/731653/000110465922056488/tm2214638d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-22-056488

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer