United Bancorp Q3 net income falls on loan charge-off
UBCP•United Bancorp’s third-quarter net income and EPS fell year over year after a one-time $2.95 million commercial loan charge-off. The provision for credit losses was $2.42 million, while noninterest income rose 71%.
1. Charge-off weighs on earnings
United Bancorp’s third-quarter earnings were affected by a $2.95 million commercial loan charge-off, which led to a $2.42 million provision for credit losses. EPS was $0.25. Noninterest income rose 71% year over year, supported by gains on loan and securities sales and higher deposit service charges.
2. Company outlook
The company anticipates net interest income and margin trends to continue rising for the remainder of 2026. It expects to begin rolling out new technology and support functions by the end of the first quarter of 2027.
