UNITED BANCSHARES, INC. ANNOUNCES THIRD QUARTER 2025 RESULTS AND $0.23 DIVIDEND
Third Quarter 2025 Highlights
- Quarterly cash dividend of
$0.23 per share for shareholders of record onNovember 28, 2025 , payable onDecember 15, 2025 . Based on the average closing price for the third quarter, this is a 2.91% dividend yield. - Net income of
$3.0 million or$1.01 per share for the 2025 third quarter. This is a$0.18 per share increase from$2.5 million or$0.83 per share in the comparable period in 2024. Year-to-date (YTD) 2025 net income of$8.9 million or$3.00 per share, is a$0.95 per share increase from$6.1 million net income, or$2.05 per share YTD 2024. - Return on average assets of 1.01% for the 2025 third quarter, an increase from 0.83% in the comparable period in 2024. YTD 2025 return on average assets of 0.99%, an increase from 0.73% YTD 2024.
- Return on average tangible shareholders' equity of 15.89% for the 2025 third quarter, up from 14.96% in the comparable period in 2024. YTD 2025 return on average tangible equity of 16.29%, up from 12.85% YTD 2024.
- Net interest margin of 3.76% for the 2025 third quarter, an increase from 3.12% in the comparable period in 2024. YTD 2025 net interest margin of 3.69%, up from 3.09% YTD 2024.
- Loan growth of
$37.9 million , up 6.58% annualized fromDecember 31, 2024 . - Core deposit growth of
$11.5 million , up 1.56% annualized fromDecember 31, 2024 . Core deposits exclude fluctuations from theOhio Treasurer's Ohio Homebuyer's matching deposits. - Asset quality metrics remain strong with stable non-performing and classified loans. Charge-offs remain at historically low levels through
September 30, 2025 .
Non
‑
GAAP Financial Measures
This release contains certain non‑GAAP financial measures, including return on average tangible equity. Tangible equity is defined as total shareholders' equity less goodwill and other intangible assets. Management believes these measures provide meaningful supplemental information to assess performance and capital adequacy and are useful to investors; however, they should not be viewed as a substitute for GAAP measures.
Cautionary Note Regarding Forward
‑
Looking Statements
This press release may contain forward‑looking statements, including statements regarding future financial and operating results, loan and deposit growth, net interest margin, asset quality, capital, dividends, and strategy. Forward‑looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially include, among others, changes in interest rates, inflation, competitive pressures, credit quality and economic conditions in our markets, liquidity and funding conditions, regulatory and accounting developments, and other risks described from time to time in public materials made available by the Company. The Company undertakes no obligation to update any forward‑looking statements, except as required by law.
About
About
Since 1904,
Contact:
419.659.2141
Quarterly Report
Shareholders, Clients, and Team Members:
I am pleased to report that your Company continued to see strong results for 2025, reporting
Trading of shares (UBOH) on OTCQX during the third quarter was noticeably elevated as compared to the previous quarter (167% increase). The average share price close during the quarter was
As a result of these successes, the Board of Directors declared a
I am also pleased to report implementation of an all-new digital platform for our clients continues with an expected rollout in the first quarter of 2026, increased usage of our
The continued accomplishments of your Company are the result of ongoing efforts of the Company's resolute team members and Board of Directors in applying our strong corporate values of respect for and accountability to our shareholders, clients, colleagues, and communities. As always, your ongoing support and the trust you have placed in us is appreciated.
Respectfully,
President & CEO
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Cash and cash equivalents |
$ 77,099,000 |
|
$ 95,283,000 |
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Securities |
226,905,000 |
|
237,779,000 |
|
Loans |
804,928,000 |
|
766,987,000 |
|
Less allowance for credit losses |
(8,511,000) |
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(7,937,000) |
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Other assets |
98,213,000 |
|
97,218,000 |
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Total Assets |
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Deposits |
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Borrowings |
16,821,000 |
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17,091,000 |
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Other liabilities |
6,267,000 |
|
6,394,000 |
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Total Liabilities |
1,090,690,000 |
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1,094,590,000 |
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Common stock and surplus |
22,086,000 |
|
21,461,000 |
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Retained earnings |
131,712,000 |
|
124,822,000 |
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Accumulated other comprehensive (loss) income |
(28,493,000) |
|
(34,786,000) |
|
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(17,361,000) |
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(16,757,000) |
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Total shareholders' equity |
107,944,000 |
|
94,740,000 |
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Total Liabilities and Shareholders' Equity |
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Common shares outstanding |
2,966,066 |
|
2,964,007 |
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Book value |
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Tangible book value (non-GAAP) |
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Closing price |
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Allowance for credit losses to loans (end of period, excluding LHFS) |
1.06 % |
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1.04 % |
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Loans to deposits |
75.40 % |
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71.61 % |
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3 months ended |
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3 months ended |
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9 months ended |
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9 months ended |
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Interest income |
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Interest expense |
4,806,000 |
|
5,986,000 |
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14,090,000 |
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15,762,000 |
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Net interest income |
9,965,000 |
|
8,344,000 |
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29,411,000 |
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22,941,000 |
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Provision for credit losses |
64,000 |
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(288,000) |
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392,000 |
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(769,000) |
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Net interest income after provision |
9,901,000 |
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8,632,000 |
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29,019,000 |
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23,710,000 |
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Non-interest income |
1,826,000 |
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2,113,000 |
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5,430,000 |
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6,418,000 |
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Non-interest expense |
8,366,000 |
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8,050,000 |
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24,449,000 |
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23,520,000 |
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Income before federal income taxes |
3,361,000 |
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2,695,000 |
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10,000,000 |
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6,608,000 |
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Federal income taxes |
370,000 |
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226,000 |
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1,091,000 |
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474,000 |
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Net Income |
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Average common shares outstanding |
2,962,803 |
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2,980,554 |
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2,968,674 |
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2,999,048 |
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Per Share Data: |
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Net income (basic) |
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Cash dividends declared |
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Dividend yield (annualized) based on quarterly avg. closing price |
2.91 % |
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4.50 % |
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3.17 % |
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4.62 % |
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Performance Ratios: |
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Return on average assets |
1.01 % |
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0.83 % |
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0.99 % |
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0.73 % |
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Return on average tangible shareholders' equity |
15.89 % |
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14.96 % |
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16.29 % |
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12.85 % |
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Net interest margin |
3.76 % |
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3.12 % |
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3.69 % |
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3.09 % |
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Credit Quality and Other Ratios: |
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Net loan charge-offs (recoveries) as a percentage of average outstanding net loans |
0.00 % |
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0.00 % |
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-0.04 % |
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0.00 % |
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Directors
Herbert H. Huffman III
Officers
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Directors
Herbert H. Huffman III
Dr.
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Investor Materials
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