UBCP

United Bancorp is a small, conservatively run Ohio state commercial bank, and the numbers read like one: FY2025 net income of $7.75M (+4.7%) on total assets of $857M, diluted EPS of $1.34 (+5.5%, flattered by a -3.5% lower share count from buybacks), and an 11.0% return on equity. The balance sheet is the strongest part of the story — stockholders' equity grew +11.1% to $70.5M and cash & equivalents jumped +137.3% to $46.5M, building a thicker liquidity and capital cushion. At $16.26 the stock trades at 12.1x earnings and roughly 1.3x book value (equity of $70.5M / 5.76M shares ≈ $12.24 book/share), which is a fair, unremarkable price for a bank earning ~11% on equity.

The income case is the real draw. Dividends paid were $5.48M against $7.75M of net income — a ~71% payout that works out to roughly $0.95/share, an implied yield near 5.8% at the current price, and it is covered by both earnings and $10.5M of operating cash flow (+23.8%). For a retail investor hunting yield from a well-capitalized lender, that is the attraction.