UNITED BANCSHARES, INC. ANNOUNCES FIRST QUARTER 2025 RESULTS AND $0.23 DIVIDEND
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E-mail- Quarterly cash dividend declared of
$0.23 per share, a 4.5% increase, for shareholders of record onMay 30, 2025 , payable onJune 16, 2025 . Based on the average closing price for the first quarter, this is a 3.23% dividend yield. - Net income of
$2.8 million or$0.94 per share for the 2025 first quarter. This is a$959,000 increase from$1.8 million or$0.61 per share in the comparable period in 2024. - Return on average assets of 0.94% for the 2025 first quarter, an increase from 0.69% in the comparable period in 2024.
- Return on average tangible equity of 15.78% for the 2025 first quarter, an increase from 11.33% in the comparable period in 2024.
- Net interest margin of 3.59% for the 2025 first quarter, an increase from 3.03% in the comparable period in 2024.
- Loan growth of
$17.9 million , annualized growth rate of 9.4% fromDecember 31, 2024 . - Deposit growth of
$3.9 million , annualized growth rate of 1.5% fromDecember 31, 2024 . - Asset quality metrics remain strong with stable non-performing and classified loans. Charge-offs remain at historically low levels through
March 31, 2025 .
About The Union Bank Company:
Since 1904, The Union Bank Company has been here to provide full-service banking to the people and businesses throughout the communities we serve. Today, the bank has 14 full-service branch locations across Northwest and
Contact:
419.659.2141
United Bancshares, Inc.
Quarterly Report
Shareholders, Clients, and Team Members:
I am pleased to report that your Company had a strong start to 2025 with reported net income of
As a result of these successes, the Board of Directors declared a
Throughout 2025, we plan to continue to grow the number and size of client relationships, introduce an all-new digital platform for our clients, provide clients weekday access to a live teller from
The continued accomplishments of your Company are the undeniable result of the ongoing efforts of the Company's dedicated team members and Board of Directors in implementing our Strategic Plan. Their efforts and our strong corporate values of respect for and accountability to our shareholders, clients, colleagues, and communities are the foundation for the continued success of your Company. Thank you for your ongoing support and the trust you have placed in us.
Respectfully,
President & CEO
Cash and cash equivalents | $ 92,368,000 | $ 95,283,000 | |
Securities | 228,827,000 | 242,069,000 | |
Loans | 784,925,000 | 766,987,000 | |
Less allowance for credit losses | (8,268,000) | (7,937,000) | |
Other assets | 98,675,000 | 92,928,000 | |
Total Assets | |||
Deposits | |||
Borrowings | 16,836,000 | 17,091,000 | |
Other liabilities | 6,279,000 | 6,394,000 | |
Total Liabilities | 1,098,098,000 | 1,094,590,000 | |
Common stock and surplus | 21,758,000 | 21,461,000 | |
Retained earnings | 126,961,000 | 124,822,000 | |
Accumulated other comprehensive (loss) income | (33,426,000) | (34,786,000) | |
Treasury stock | (16,864,000) | (16,757,000) | |
Total shareholders' equity | 98,429,000 | 94,740,000 | |
Total Liabilities and Shareholders' Equity | |||
Common shares outstanding | 2,983,571 | 2,964,007 | |
Book value | |||
Tangible book value (non-GAAP) | |||
Closing price | |||
Allowance for credit losses to loans (end of period, excluding LHFS) | 1.06 % | 1.04 % | |
Loans to deposits | 73.02 % | 71.61 % |
3 months ended | 3 months ended | |||
Interest income | ||||
Interest expense | 4,641,000 | 4,723,000 | ||
Net interest income | 9,543,000 | 7,148,000 | ||
Provision for credit losses | 93,000 | (291,000) | ||
Net interest income after provision | 9,450,000 | 7,439,000 | ||
Non-interest income | 1,801,000 | 2,279,000 | ||
Non-interest expense | 8,124,000 | 7,787,000 | ||
Income before federal income taxes | 3,127,000 | 1,931,000 | ||
Federal income taxes | 335,000 | 98,000 | ||
Net Income | ||||
Average common shares outstanding | 2,968,959 | 3,026,556 | ||
Per Share Data: | ||||
Net income (basic) | ||||
Cash dividends declared | ||||
Dividend yield (annualized) based on quarterly avg closing price | 3.23 % | 4.66 % | ||
Performance Ratios: | ||||
Return on average assets | 0.94 % | 0.69 % | ||
Return on average tangible shareholders' equity | 15.78 % | 11.33 % | ||
Net interest margin | 3.59 % | 3.03 % | ||
Credit Quality and Other Ratios: | ||||
Net loan charge-offs (recoveries) as a | (0.13 %) | 0.00 % | ||
United Bancshares, Inc
Directors Herbert H. Huffman III
Officers | The Union Bank Co.
Directors Herbert H. Huffman III Dr. |
Investor Materials
United Bancshares, Inc. has traded its common stock on the OTCQX Markets Exchange under the symbol "UBOH". Annual and quarterly shareholder reports, regulatory filings, press releases, and articles about United Bancshares, Inc. are available in the Investor Relations section of our website theubank.com or by calling 800-837-8111.
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SOURCE United Bancshares, Inc.
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