ATMORE, Ala. , May 14, 2025 /PRNewswire/ -- (OTCQX: UBAB)- United Bancorporation of Alabama, Inc., announced today that the Board of Directors has approved a renewed stock repurchase program (the "Repurchase Program"). Under the repurchase program, United may repurchase up to 337,380 shares or approximately 10% of the currently outstanding shares of its common stock through May 13, 2026.

Repurchases will be made at the discretion of management in accordance with the limitations set forth in Rule 10b-18 of the Securities and Exchange Commission when pricing is considered attractive and in the best interests of both the Company and its shareholders, subject to the availability of stock, general market conditions, the trading price of the stock, alternative uses for capital, and the Company's financial performance. Open market purchases and negotiated transactions at prevailing market prices will be conducted in accordance with applicable legal and regulatory requirements. Repurchases may also be made pursuant to trading plans under Rule 10b5-1. The repurchase program may be suspended, terminated, or modified at any time for any reason. There is no guarantee as to the exact number of shares that will be repurchased by the Company.

About United Bancorporation of Alabama, Inc.

United Bancorporation of Alabama, Inc. is a $1.4 billion financial holding company and parent company of United Bank and UB Community Development, primarily serving Southwest Alabama and Northwest Florida. United is designated as a CDFI, committed to stimulating economic development in underserved communities. United and its subsidiaries operate 23 locations across six counties. UB Community Development focuses on economic and community development through New Markets Tax Credits, affordable housing and community facilities programs. For a complete quarterly report visit our investor relations tab at www.UnitedBank.com. Member FDIC.

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SOURCE United Bancorporation