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United Bancorp Inc. (UBCP+0.30%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, detailing the company's performance and financial position. United Bancorp Inc. reported total assets of $802,054,000 and total liabilities of $749,766,000 as of December 31, 2024.
The company operates as a bank holding company headquartered in Martins Ferry, Ohio, with one wholly-owned subsidiary, Unified Bank. Unified Bank provides commercial and retail banking services across several counties in Ohio and West Virginia.
The filing indicates that the company is subject to various federal and state regulations, including oversight by the Federal Reserve and the FDIC. United Bancorp Inc. is classified as a non-accelerated filer and a smaller reporting company.
The report highlights the competitive environment in which Unified Bank operates, with significant competition from other financial institutions in its market areas.
The company maintains a cybersecurity risk management program to protect its critical systems and information, as required by federal regulations.
The filing also discusses regulatory capital requirements, indicating that Unified Bank is well-capitalized as of December 31, 2024.
The company identified a material weakness in its internal control over financial reporting related to the fair value of available-for-sale investment securities, which was addressed and corrected in early 2025.
United Bancorp Inc. has no material legal proceedings and owns several branch offices in Ohio and West Virginia, which are used for its banking operations.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the United Bancorp Inc. annual 10-K report dated March 14, 2025. To report an error, please email earnings@qz.com.