Overview

• US community bank's Q1 net income rose 32% yr/yr to $3.7 mln

• Net interest margin improved to 4.01% from 3.59% a year earlier

• Company repurchased about 7% of outstanding shares in Q1 as part of capital management

Outlook

• Company plans to grow client relationships and expand service areas throughout 2026

• United Bancshares to introduce a new digital platform for clients in 2026

• Company aims to apply new technologies to create internal efficiencies this year

Result Drivers

• LOAN AND DEPOSIT GROWTH - Co said Q1 results were supported by $28.1 mln in loan growth (13.6% annualized) and $30.6 mln in deposit growth (11.6% annualized)

• NON-INTEREST INCOME - Q1 profitability was enhanced by higher value of mortgage servicing rights and $121,000 gain on sale of real estate, due to higher interest rates and disposal of Gahanna location

• ASSET QUALITY - Asset quality metrics remained strong with stable non-performing and classified loans and historically low charge-offs

Company press release: ID:nPn3Fy95da

Key Details

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