United Bancshares Q3 profit jumps on higher net interest income
UBOH•United Bancshares’ third-quarter net income was $5.20 million, as higher interest income and a wider net interest margin lifted net interest income. The company raised its quarterly dividend 13% to $0.26 per share.
1. Earnings and dividend
United Bancshares reported third-quarter net income of $5.20 million, with net income and earnings per share rising sharply year over year. It raised its quarterly dividend by 13% to $0.26 per share.
2. Margin and balance sheet
Net interest margin increased to 3.87% from 3.76% a year earlier. Loans and core deposits grew from year-end, while lower non-interest expenses partly offset higher credit-loss provisions. The company did not provide specific financial guidance for future quarters or the full year.
