United Bancorp Q2 EPS $0.40, net income up 5.2% YoY; net interest margin expands

UNITED BANCORP INC /OH/

2022-Q2 EPS reported $0.70

Diluted EPS $0.40; net income $2.297M (up 5.2% YoY). Six-month EPS $0.70; net income $4.048M (down 1.1%).
Net interest income rose 7.4% YoY to $5.96M; net interest margin improved 9 bps to 3.54%.
Gross loans up $8.7M (1.9%) to $467.4M; securities up $45.6M (30.7%) to $193.9M.
Credit reserve release of $485K in Q2; nonaccrual loans $4.0M (0.86% of loans).
Cash dividends increased $0.07 YoY (18.1%) including $0.15 special; book value fell 19.3% to $9.65.

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