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what it is
United Bancshares owns The Union Bank Company, a community bank that takes deposits and makes loans across 14 Ohio branches.
how it gets paid
FY 2025 (twelve months ended Dec 31, 2025) net interest income was ~$40.4M and non-interest income ~$7.1M— together ~$47.5M of revenue-like lines in the earnings release tables (not “n/a”).
what just happened
Q4 2025 diluted EPS was ~$1.04 vs. ~$1.02 in Q4 2024. FY 2025 was ~$4.04 vs. ~$3.06 in FY 2024 (release tables).
At a glance
B balance sheet — gets the job done, barely
70/100 earnings predictability — reasonably predictable
9.8x trailing p/e — the market's not buying it — or you found a deal
2.4% dividend yield — cash in your pocket every quarter
~$4.04 FY2025 diluted EPS (reported)
xvary composite: 62/100 — average
What they do
United Bancshares owns The Union Bank Company, a community bank that takes deposits and makes loans across 14 Ohio branches.
This is a local relationship bank, not a scale machine. You get 14 Ohio branches, 211 employees, and a business founded in 1904, which means customers know where the branch is and who picks up the phone. That matters more in small-town banking than a slick app.
How they make money
~$47.5M
FY 2025 revenue mix (NII + non-interest income— release tables)
net interest income
$40.4M
+25%
non-interest income
$7.1M
−15%
The products that matter
commercial and retail banking
The Union Bank Company
~$47.5M FY revenue lines · ~$1.19B total assets
The Union Bank Company is the whole operating franchise— consolidated assets ~$1.19B YE 2025 in the release (loans, deposits, NIM story).
one-bank thesis
shareholder cash payout
Dividend payments
$0.92 dividends declared FY25 · $0.24/sh Q1’26 declaration
your payout is only as durable as that one bank's profits. if the subsidiary stumbles, the dividend is the first thing you re-underwrite.
2.4% yield
parent-company structure
Holding company cash flows
data looks thin above the bank
some inputs show only about $6M at the parent level. that matters because your public equity claim sits above the operating bank, not inside it.
follow the cash
Key numbers
9.8x
trailing p/e
P/E → price-to-earnings ratio → how much you pay for each dollar of profit. At 9.8x, you are not paying up for hype.
$4.04
fy2025 eps est
FY 2025 reported ~$4.04 vs. ~$3.06 in FY 2024— screen TTM can lag the filing; always check the release date.
2.4%
dividend yield
Dividend yield → cash paid to shareholders each year divided by stock price → your wait is at least paid a little.
$17M
long-term debt
Long-term debt → borrowed money due later → so what, this bank carries debt equal to 13% of capital, which looks manageable.
Financial health
B
strength
- balance sheet grade B — adequate — nothing special
- risk rank 2 — safer than 80% of stocks
- price stability 75 / 100
- long-term debt $17M (13% of capital)
B — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for UBOH right now.
source: institutional data · return history unavailable
What just happened
FY 2025 reported
Q4 2025 diluted EPS ~$1.04; FY 2025 ~$4.04 vs. FY 2024 ~$3.06.
NIM ~4.03% in Q4 2025 vs. ~3.39% prior-year quarter; loans grew ~7.6% YoY— read the full allowance / provision lines in the 10-K, not just EPS.
~$1.04
Q4 2025 EPS
~$4.04
FY 2025 EPS
~$40.4M
FY NII
the number that mattered
FY EPS stepped ~$3.06 → ~$4.04 while the bank stayed sub-$1.2B assets— that is the community-bank compounding story.
source: United Bancshares, Inc. Q4 / FY 2025 release · PR Newswire
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What could go wrong
Your biggest risk is single-bank dependence at The Union Bank Company.
high
one subsidiary carries the whole thesis
The operating bank is tied to the $46M revenue base, and the parent depends on that stream to function. If the bank under-earns, you do not have another segment to bail you out.
Impact: 100% of the operating story sits in one place.
med
local credit quality matters more than macro commentary
This is a small Ohio bank, not a national lender with geographic spread. If local borrowers weaken, the nice-looking 25.2% net margin can compress fast.
Impact: margin pressure hits the bank, the parent, and your dividend at the same time.
med
thin data is its own risk
Current inputs reference a reported quarter without carrying the exact figures, and revenue appears differently at the bank and parent levels. If you own micro-caps, this is familiar. If you do not, it is a warning.
Impact: uncertainty stays higher because your evidence set is thinner.
One operating bank supports the revenue base, the dividend, and the public equity story. That is simple to understand. It is also simple to break.
source: institutional data · regulatory filings · risk analysis
Pay attention to
profitability
does the 25.2% net margin hold
That number is doing a lot of work. If it slips, the cheap multiple will stop looking cheap.
calendar
next quarterly update
The latest referenced quarter ended Dec 31, 2025. You want the next filing to bring actual figures, not just confirmation that a quarter happened.
dividend
any change to the $0.96 annual payout
For this stock, the dividend is not decoration. It is a live test of whether the one-bank structure is still throwing off enough cash.
trading range
whether shares keep hugging the top of the range
At $39.79 versus a $45 high, the stock is closer to optimism than panic. That leaves less room for disappointment.
Analyst rankings
earnings predictability
70 / 100
in human-speak: this is steadier than a lot of small caps, but you should still expect the occasional surprise.
risk rank
2
That score points to lower statistical risk than most stocks. It does not erase the fact that one bank carries the story.
price stability
75 / 100
You are not looking at a meme-stock tape. You are looking at a thinly followed bank where the calm can break if fundamentals do.
source: institutional data
Institutional activity
institutional ownership data for UBOH is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$40
current price
n/a
target midpoint · n/a from current
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