MARTINS FERRY, Ohio, Feb. 14, 2013 /PRNewswire/ -- On February 13, 2013, the Board of Directors of United Bancorp, Inc. (UBCP) declared the first quarter dividend payment of $0.07 per share for shareholders of record on March 8, 2013 with a payment date of March 20, 2013. This cash dividend amount of $0.07 per share equals the amount paid last quarter. We are pleased to report that our dividend payment is providing a current yield of 4.4%.
James W. Everson, Chairman, President and CEO, stated, "As reported in our year-end Earnings Release, community banking is under siege by current monetary policies and regulations which have the potential to shrink the number of banks in our country. We firmly believe that a community banking company as ours with strong and conservative practices will be positioned to weather this present storm and will be in a very sound position in future periods to grow and prosper. Our company is blessed with a strong and talented management group that is poised for succession, a strong capital base and financial statement, the latest in high tech and efficient operating systems and a geographically diverse spread of twenty modern office locations over four distinct economic areas within Ohio. We take great pride in the fact that we are a strongly compliant SEC Registrant that is publically traded on the NASDAQ. This structural soundness could lead to positive growth opportunities." Everson concluded, "Today, as we navigate through this economic recovery, we may be suffering a little 'short term pain for long term gain', but our long term goal is to be a strong and profitable survivor in this presently changing banking environment and to reward our owners with solid growth in their shareholder value."
United Bancorp, Inc. is headquartered in Martins Ferry, Ohio with total assets of approximately $438.4 million and total shareholder's equity of approximately $36.6 million as of December 31, 2012. Through its single bank charter with its twenty banking offices and an operations center, The Citizens Savings Bank through its Community Bank Division serves the Ohio Counties of Athens, Fairfield and Hocking and through its Citizens Bank Division serves Belmont, Carroll, Harrison, Jefferson and Tuscarawas. United Bancorp, Inc. is a part of the Russell Microcap Index and trades on The NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #909911109. Please visit our web site www.unitedbancorp.com for more information and copies of recent news releases.
Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements, which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or carry forward-looking statements, whether as a result of new information, future events or otherwise.