UNITED BANCSHARES, INC. ANNOUNCES THIRD QUARTER 2026 RESULTS AND $0.26 DIVIDEND
COLUMBUS GROVE, Ohio, Oct. 21, 2026 /PRNewswire/ -- United Bancshares, Inc. (OTCQX: UBOH)
- Quarterly cash dividend of $0.26 per share for shareholders of record on November 30, 2026, payable on December 15, 2026. This represents a 13% increase from the same quarter in 2025.
- Company reported net income of $5.2 million ($1.90 per share) for the third quarter of 2026 and $10.5 million ($3.83 per share) YTD 2026 compared to $3.0 million ($1.01 per share) for the third quarter of 2025 and $8.9 million ($3.00 per share) YTD 2025.
- Company reported return on average tangible equity of 25.73% and 17.18% for the third quarter and first nine months of 2026 compared to 15.89% and 16.29% for the third quarter and first nine months of 2025.
- Net interest margin of 3.87% for the third quarter of 2026, an increase from 3.76% in the comparable period in 2025. YTD 2026 net interest margin of 3.95%, is up from 3.69% YTD 2025.
- Loan growth of $43.4 million, an annualized growth rate of 7.01% from December 31, 2025.
- Deposits increased $135.7 million, inclusive of $61.9 million of brokered deposits and fluctuations in state deposit programs totaling $19.4 million, resulting in core deposit growth of $54.4 million or 7.48% annualized growth from December 31, 2025.
- Asset quality metrics remain strong with stable non-performing and classified loans supported by an allowance for credit losses to loans of 1.08% on September 30, 2026.
Non‑GAAP Financial Measures
This release contains certain non‑GAAP financial measures, including return on average tangible equity. Tangible equity is defined as total shareholders' equity, less goodwill and other intangible assets. Management believes these measures provide meaningful supplemental information to assess performance and capital adequacy and are useful to investors; however, they should not be viewed as a substitute for GAAP measures.
Cautionary Note Regarding Forward‑Looking Statements
This press release may contain forward‑looking statements, including statements regarding future financial and operating results, loan and deposit growth, net interest margin, asset quality, capital, dividends, and strategy. Forward‑looking statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially include, among others, changes in interest rates, inflation, competitive pressures, credit quality and economic conditions in our markets, liquidity and funding conditions, regulatory and accounting developments, and other risks described from time to time in public materials made available by the Company. The Company undertakes no obligation to update any forward‑looking statements, except as required by law.
About United Bancshares, Inc.
United Bancshares, Inc. (OTCQX: UBOH) is a financial holding company headquartered in Columbus Grove, Ohio, and the parent company of The Union Bank Company. United Bancshares' common stock trades on the OTCQX Best Market under the symbol "UBOH."
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 Central Ohio, including Bowling Green, Columbus Grove, Delphos, Findlay, Gibsonburg, Kalida, Leipsic, Lewis Center, Lima, Marion, Ottawa, Paulding and Pemberville. We have Interactive Teller Machines (ITMs) located at all of our branch locations with additional ITM-only locations in Lima, Marion, McComb and Paulding. The Union Bank Company is headquartered in Columbus Grove, Ohio, and remains committed to providing the best banking service and products to all the communities we serve. Learn more at www.theubank.com.
Contact:
Brian D. Young, President and CEO
Klint D. Manz, Chief Financial Officer
419.659.2141
United Bancshares, Inc.
Quarterly Report
September 30, 2026
Shareholders, Clients, and Team Members:
I am pleased to report that your Company continued to see strong results for 2026, reporting $5.2 million ($1.90/share) and $10.5 million ($3.83/share) in net income for the third quarter and year to date, respectively. That equated to return on average tangible equity of 25.7% and 17.2% for the three- and nine-month periods in 2026, respectively. The Company also reported approximately $43 million in loan growth (7% annualized) and $54.4 million (7.5% annualized) in core deposit growth (excluding the deposit fluctuations from the Ohio Treasurer's matching deposits and acquired brokered CDs). While credit quality remained relatively stable, the Company has allocated $642,000 to provision for credit losses so far in 2026.
As a result of these successes, the Board of Directors declared a $0.26 per share quarterly dividend, payable on December 15th for shareholders of record on November 30th. The dividend is a 13% increase as compared to the third quarter 2025 dividend and 13.7% of the reported net income for the third quarter of 2026.
As the Company continues to report positive movement in many of our financial metrics, we continue to believe that repurchasing our shares at appropriate levels brings long-term value to our shareholders. Throughout 2026, UBOH shares closed on the OTCQX market at an average price of $38.82 per share and closed the third quarter at $40.04 per share. If your investment strategy has changed or you would simply like to use your capital for another purpose, we encourage you to contact the Company. By contacting us directly, you may benefit from a negotiated price, avoid brokerage commissions or fees, and experience a faster and simpler transaction process. Any share repurchase is entirely voluntary for both the shareholder and the Company. If you are interested in discussing a potential repurchase of your shares, please contact me directly at 419-879-6111.
The continued accomplishments of your Company are the result of the ongoing efforts of the Company's unyielding team members and Board of Directors in applying our strong corporate values of respect for and accountability to our shareholders, clients, colleagues, and communities. As always, your ongoing support and the trust you have placed in us is appreciated.
Respectfully,
Brian D. Young
Chairman, President & CEO
Financial Reports |
|||
(unaudited) |
|||
September 30, 2026 |
December 31, 2025 |
||
Cash and cash equivalents |
$ 57,121,000 |
$ 51,833,000 |
|
Securities |
428,469,000 |
227,895,000 |
|
Loans |
868,505,000 |
825,129,000 |
|
Less allowance for credit losses |
(9,328,000) |
(8,630,000) |
|
Other assets |
113,523,000 |
97,170,000 |
|
Total Assets |
$1,458,290,000 |
$1,193,397,000 |
|
Deposits |
$1,191,472,000 |
$1,055,736,000 |
|
Borrowings |
163,628,000 |
16,568,000 |
|
Other liabilities |
8,148,000 |
7,431,000 |
|
Total Liabilities |
1,363,248,000 |
1,079,735,000 |
|
Common stock and surplus |
22,582,000 |
22,326,000 |
|
Retained earnings |
142,573,000 |
134,117,000 |
|
Accumulated other comprehensive (loss) income |
(40,907,000) |
(24,776,000) |
|
Treasury stock |
(29,206,000) |
(18,005,000) |
|
Total shareholders' equity |
95,042,000 |
113,662,000 |
|
Total Liabilities and Shareholders' Equity |
$1,458,290,000 |
$1,193,397,000 |
|
Common shares outstanding |
2,691,611 |
2,954,518 |
|
Book value |
$35.31 |
$38.47 |
|
Tangible book value (non-GAAP) |
$24.53 |
$28.76 |
|
Closing price |
$40.04 |
$43.02 |
|
Allowance for credit losses to loans (end of period, excluding LHFS) |
1.08 % |
1.05 % |
|
Loans to deposits |
72.89 % |
78.16 % |
|
3 months |
3 months |
9 months |
9 months |
||||
Sept 30, |
Sept 30, 2025 |
Sept 30, |
Sept 30, |
||||
Interest income |
$18,669,000 |
$14,771,000 |
$50,755,000 |
$43,501,000 |
|||
Interest expense |
6,278,000 |
4,806,000 |
15,572,000 |
14,090,000 |
|||
Net interest income |
12,391,000 |
9,965,000 |
35,183,000 |
29,411,000 |
|||
Provision for credit losses |
253,000 |
64,000 |
642,000 |
392,000 |
|||
Net interest income after provision |
12,138,000 |
9,901,000 |
34,541,000 |
29,019,000 |
|||
Non-interest income |
1,777,000 |
1,826,000 |
1,824,000 |
5,430,000 |
|||
Non-interest expense |
8,254,000 |
8,366,000 |
24,893,000 |
24,449,000 |
|||
Income before federal income taxes |
5,661,000 |
3,361,000 |
11,472,000 |
10,000,000 |
|||
Federal income taxes |
510,000 |
370,000 |
972,000 |
1,091,000 |
|||
Net Income |
$5,151,000 |
$2,991,000 |
$10,500,000 |
$8,909,000 |
|||
Average common shares outstanding |
2,705,764 |
2,962,803 |
2,742,528 |
2,968,674 |
|||
Per Share Data: |
|||||||
Net income (basic) |
$1.90 |
$1.01 |
$3.83 |
$3.00 |
|||
Cash dividends declared |
$0.26 |
$0.23 |
$0.77 |
$0.69 |
|||
Performance Ratios: |
|||||||
Return on average assets |
1.42 % |
1.01 % |
1.05 % |
0.99 % |
|||
Return on average tangible shareholders' equity |
25.73 % |
15.89 % |
17.18 % |
16.29 % |
|||
Net interest margin |
3.87 % |
3.76 % |
3.95 % |
3.69 % |
|||
Credit Quality and Other Ratios: |
|||||||
Net loan charge-offs (recoveries) as a percentage of average outstanding net loans |
0.00 % |
0.00 % |
0.01 % |
(0.04 %) |
|||
United Bancshares, Inc. Directors Robert L. Benroth Herbert H. Huffman III Kevin L. Lammon R. Steven Unverferth Brian D. Young, Chairman
|
The Union Bank Co. Directors Robert L. Benroth Anthony M. V. Eramo Herbert H. Huffman III Kevin L. Lammon John P. Miller William R. Perry Carol R. Russell R. Steven Unverferth Brian D. Young, Chairman |
|
Officers Brian D. Young, President/CEO Jane M. Wood, Secretary Klint D. Manz, CFO |
Investor Materials
United Bancshares, Inc. trades its common stock on the OTCQX Best Market 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.
SOURCE United Bancshares, Inc.
Share this article