United Bancshares: A Well-Run Micro-Cap Bank In America's Top State For Business

Crimson And Gold Research 303 Followers Follow Summary United Bancshares is a micro-cap Ohio community bank trading below book value with strong operational momentum. UBOH's Q2 earnings were temporarily impacted by a $3M after-tax securities sale loss, but adjusted results show robust profit growth and a 4% net interest margin. Loan portfolio expansion, steady credit quality, and a shrinking share count support continued EPS gains; the dividend has been raised four times in six quarters. I rate UBOH a Buy at $38.75, citing attractive valuation, consistent earnings growth, and favorable regional economic tailwinds. Paperkites/iStock via Getty Images Earlier this week, I wrote an analysis for Consumers Bancorp ( CBKM ), a micro-cap community bank holding company that operates in eastern Ohio. On the other side of the state is a similar company, United Bancshares, Inc. ( This article was written by Crimson And Gold Research 303 Followers Follow I have been involved in the financial world for over 25 years with experience as an advisor, teacher, and writer. I am a full believer in the free-market system and that financial markets are efficient with most stocks reflecting their real current value. The best opportunities for profits on individual stocks come from stocks that are less-widely followed by the average investor or from stocks that may not accurately reflect the opportunities that currently exist in their markets. Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.