United Bancorp Q3 EPS $0.40, down $0.10 YoY; NII up 13.6% on balance-sheet mix shift

UNITED BANCORP INC /OH/

2022-Q3 EPS reported $1.11

Q3 net income $2.3M ($0.40 diluted EPS) vs $2.9M ($0.50) a year ago; prior year included $1.25M security gain and $400k negative provision.
Net interest income rose $764k (+13.6%) as interest income grew $1.1M (+17.1%) on higher-yielding loans and securities.
Total deposits $650.1M (+6.8% YoY); net interest margin improved 6 bps to 3.60% linked quarter.
Book value fell to $8.98 from $11.74 due to $14.5M AOCI loss on securities portfolio in rising-rate environment.
Credit quality remained stable: non-accrual loans $4.0M (0.86% of loans), 95% one relationship; net charge-offs under $1,000.

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