United Bancorp Q1 EPS Climbs 3.1% to $0.33, Deposits Grow 6.8%
United Bancorp’s Q1 net income rose 2.1% to $1.91 million, driving diluted EPS up 3.1% to $0.33 year-over-year. Total assets climbed 3.6% to $858.5 million on a 6.8% deposit increase and boosting net interest margin by 12 basis points to 3.72%.
1. Q1 Earnings Performance
United Bancorp posted net income of $1.911 million for Q1 2026, up $39,000 or 2.1% year-over-year, while diluted EPS rose to $0.33, a 3.1% increase. Management noted that investments in transformative infrastructure projects incurred additional expenses but expect returns over the next 12–24 months.
2. Balance Sheet Expansion
Total assets reached $858.5 million at March 31, reflecting a 3.6% increase from Q1 2025. Growth drivers included a $42.6 million (6.8%) jump in deposits to $666.7 million, gross loans climbing $3.5 million to $500.3 million, securities rising by $6.0 million, and bank-owned life insurance expanding by $18.3 million.
3. Margin Improvement and Outlook
Net interest income increased by $265,000 (4.2%) and net interest margin expanded 12 basis points to 3.72%, supported by a $172,000 (1.8%) rise in interest income and a $93,000 (2.6%) drop in interest expense. Management anticipates continued margin expansion throughout 2026.