UBOH
United Bancshares, Inc.37.50
-0.81-2.11%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
111.23MP/E (TTM)
13.30Basic EPS (TTM)
2.82Dividend Yield
0.02%Recent Filings
10-K
FY2022 results
United Bancshares closed FY2022 with consolidated assets of $1.1 billion, up from prior years amid steady growth in deposits to $952.6 million average, while loans held flat at $637.3 million average, yielding net interest income of $36.7 million, a slight 0.5% y/y rise (derived) despite a 7.5% drop in loan interest to $31.2 million from maturing high-yield portfolios. Q4 momentum shone through with net recoveries of -0.01% on average loans, down from 0.05% in 2020, and a $1 million credit to loan loss provisions reflecting fading COVID risks and problem loans shrinking to $8.1 million from $24.7 million y/y. Margins held firm at 3.74%, but securities unrealized losses pressured equity to $92.5 million average. Year-end debt remained low at $13 million in junior debentures, with revolver access supporting liquidity; buybacks accelerated in Q4, repurchasing 86,953 shares at $23.64 average. No 2023 guidance disclosed. Deteriorating commercial real estate fundamentals could stall quarterly loan momentum.
8-K
Q4 earnings rise, annual dip
United Bancshares reported Q4 2022 net income of $3.5 million, up 30.1% from prior year, driven by $730,000 higher net interest income and a $1 million loan loss reversal amid fading COVID impacts, though mortgage gains plunged 84.9% on $24.6 million sold versus $72.5 million last year. Full-year net income fell 16.7% to $11.3 million, hit by $11.6 million lower loan sale gains, yet non-interest expenses dropped 7.1% through staff cuts and cost controls. Board approved a $0.22 per share dividend, up 4.8%, payable March 15. Equity shrank 30.6% from $53.6 million unrealized securities losses due to rate hikes.
10-Q
Q3 FY2022 results
United Bancshares posted solid Q3 results with net income of $3.1M, down 24.6% y/y yet buoyed by a $793K BOLI death benefit; net interest income dipped 5.8% y/y to $9.3M amid fading PPP fees, while the margin held at 3.91%. Non-interest income fell 40.1% y/y to $2.8M, hit by 77.6% lower mortgage gains from sluggish originations, but other income surged 119.1% y/y on hedging wins. Expenses trimmed 8.4% y/y to $8.9M, lifting efficiency to 71.4%—not ideal, but manageable. Loans grew 4.6% y/y to $637M, deposits up 3.3% y/y to $961M, with $49M cash and $177M FHLB availability ensuring liquidity; debt stands at $19M including $13M debentures. Non-GAAP metrics not disclosed in the 10-Q. Watch rising rates pressure margins further.
8-K
Q3 earnings dip on mortgage slowdown
United Bancshares reported Q3 net income of $3.1 million, down 24.6% from last year, hit by a 40.1% drop in non-interest income from weaker mortgage sales—158 loans totaling $41.6 million at a slim 1.77% gain, versus 328 at 4.06%. Yet expenses fell 8.4%, and a $0.79 million BOLI death benefit cushioned the blow. Board approved $0.21 per share dividend, payable December 15. Unrealized securities losses ballooned to $50.3 million amid rising rates.
10-Q
Q2 FY2022 results
United Bancshares posted Q2 net income of $2.2M, down 18% y/y on weaker mortgage gains, yet net interest income edged up 3% y/y to $8.7M as loan yields held steady amid PPP runoff. Deposits swelled 7% q/q to $998M, bolstering liquidity with cash at $104M and $166M in FHLB availability, while other borrowings dipped to $6.5M. Loans grew 3% q/q to $626M, driven by commercial real estate, with no provision needed versus $300K y/y. Free cash flow hit $3.3M, derived from $6.1M operating cash minus $2.8M capex. EPS dipped to $0.65 from $0.80 y/y, reconciling to 3.3M diluted shares. Securities unrealized losses widened to $40M, trimming equity 27% q/q. Competition from larger banks pressures deposit pricing.
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