United Bancshares

What United Bancshares does

United Bancshares, Inc. is a publicly traded (UBOH) financial holding company headquartered in Columbus Grove, Ohio, that conducts all of its banking operations through its wholly owned subsidiary, The Union Bank Company, founded in 1904. The company operates 14 full-service branch locations across Northwest and Central Ohio, supplemented by Interactive Teller Machines (ITMs) with extended hours and dedicated ITM-only locations in Lima, Marion, and Paulding. United Bancshares serves three primary customer segments: individual retail consumers (checking, savings, mortgages, home equity, consumer loans, credit cards), small to mid-sized businesses (business checking/savings, treasury management, commercial lending), and agricultural operators (commercial/ag loans, SBA 7(a) small business loans, equipment financing), with a regional focus on Ohio farming communities.

The company operates a Fiserv-powered digital banking platform spanning online banking, a mobile banking app (iOS and Android), bill pay, card controls, and real-time balance access. It layers third-party integrations onto this core: Zelle for person-to-person payments, Elan Financial Services and Visa for personal and business credit card issuance and processing, IntraFi Network for deposit network/ CDARS coverage, and QuickBooks for accounting integration. A new digital platform and refreshed mobile app are scheduled for Q2 2026, adding credit score monitoring, an external account aggregation feature, and expanded self-service capabilities. Back-office treasury management provides commercial customers with Remote Deposit Capture, ACH, wire transfers, merchant services, and Check/ACH Positive Pay fraud controls.

United Bancshares generates revenue primarily through net interest income on its commercial, agricultural, mortgage, and consumer loan portfolios (Q1 2026 net interest margin of 4.01%) and through non-interest income from deposit account service charges, digital banking fees, credit card interchange, merchant services, and wire transfer fees. The company has demonstrated strong recent financial performance: full-year 2025 net income of $12.0 million ($4.04 per share, up 30% year-over-year), Q1 2026 net income of $3.7 million ($1.32 per share, up 40.4% year-over-year), 13.61% annualized loan growth in Q1 2026, and a 17.73% return on average tangible equity. Capital is being returned to shareholders through quarterly dividends ($0.25 per share in Q1 2026) and an active share repurchase program (approximately 7% of shares retired in Q1 2026).

Name

United Bancshares

Legal name

United Bancshares, Inc.

Website

https://theubank.com

Company type

Public

Founded year

1904

Operating status

Operating

Short description

United Bancshares, Inc. (UBOH) is the holding company for The Union Bank Company, an Ohio community bank founded in 1904 operating 14 branches across Northwest and Central Ohio. It serves retail consumers, small-to-mid businesses, and agricultural customers with deposit accounts, lending, mortgages, treasury management, and Fiserv-powered digital banking.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Commercial Banking (52211), Offices of Bank Holding Companies (551111), Depository Credit Intermediation (5221)

SIC

State Commercial Banks (6022)

akta.pro primary industry

Mass-Market Consumer Deposit Banking (Checking/Savings) (FSABAAAA)

Keywords

• Community banking services
• Commercial lending products
• Agricultural loan financing
• Digital banking platform
• Treasury management services

Headquarters

HQ city

Columbus Grove

HQ country

United States

HQ region

North America

Offices15 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain

Revenue model

1. Net Interest Income: Primary revenue source from interest earned on loans (commercial, agricultural, mortgage, consumer) and securities, minus interest paid on deposits. Q1 2026 net interest margin of 4.01% with 13.61% annualized loan growth.
2. Non-Interest Income: Fee income from deposit account service charges, digital banking services, credit card interchange, merchant services, wire transfers, and other banking service fees.
3. Dividend Distributions: Quarterly cash dividends paid to shareholders of United Bancshares, Inc. (UBOH). Q1 2026 dividend of $0.25 per share representing 4.2% increase from prior quarter.
4. Share Repurchases: Capital management strategy through share repurchases. Approximately 7% of outstanding shares repurchased during Q1 2026.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

United Bancshares provides commercial banking and related financial services through its wholly owned subsidiary The Union Bank Company. The bank offers consumer and business deposit accounts, mortgage loans, home equity and personal loans, commercial and agricultural loans, SBA small business loans, credit cards, and treasury management services delivered across 14 branches and digital banking channels in Ohio.

Product overview

The Union Bank Company, a subsidiary of United Bancshares, operates as a regional community bank offering a unified platform of banking products and services. The core portfolio includes personal and business checking/savings accounts, mortgage and consumer lending products, and credit cards. Digital banking capabilities (online and mobile) serve as the primary delivery channel alongside 14 branch locations. Business services extend to treasury management, commercial/agricultural lending, and SBA small business loans. The product line is delivered as an integrated suite rather than modular components, with digital banking, Zelle P2P payments, and credit score monitoring embedded within the core banking platform.

Differentiator

Problem solved

Functional benefit

Products and services

• Personal Checking Personal checking accounts with features for everyday banking, online and mobile access, card controls, and bill pay for individual consumers.
• Personal Savings Personal savings accounts designed for emergency funds and long-term savings plans with secure, flexible solutions for individual consumers.
• Zelle P2P Payments Peer-to-peer payment service enabling instant money transfers between enrolled users via email or U.S. mobile number, integrated into online and mobile banking.
• Digital Banking Online and mobile banking platform providing real-time balance checks, fund transfers, bill pay, account management, mobile deposits, card controls, and money management tools for consumers.
• Mortgage Loans Home mortgage products including fixed-rate, adjustable-rate, FHA, 203(k) renovation, jumbo, USDA, and VA loans for homebuyers and homeowners.
• Home Equity and Personal Loans Home equity lines of credit (HELOC) with flexible borrowing options and personal loans for various consumer needs.
• Personal Credit Cards Personal Visa credit cards with flexible purchasing power, mobile payment capability, rewards programs, and 24/7 cardmember service, issued through Elan Financial Services.
• Business Checking Business checking accounts including Union Free, Union Business Interest, and Union Commercial options tailored for businesses of all sizes.
• Business Savings Business savings options including standard Business Savings, Premier Business Savings, Business Money Market Savings, and CD Options for business customers.
• Business Digital Banking
• Commercial and Agricultural Loans Commercial loans, lines of credit, equipment loans and leasing, and agricultural lending services with relationship-based business financing solutions for commercial and farming operations.
• Small Business Loans (SBA 7(a)) SBA-guaranteed small business loans ranging from $25,000 to $150,000 with terms up to 10 years, variable rate WSJ Prime + 2.75%, and packaging fees from $1,250 to $1,750.
• Treasury Management Services
• Business Credit Cards Business Visa credit cards with free online expense reporting, no fee for additional employee cards, and mobile payment capability, issued through Elan Financial Services.

Quantifiable outcome

• Q1 2026 net income of $3.7 million, up 40.4% year-over-year
• +4 more outcomes

Segments4 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration3 records

Feature5 records

Partnerships

Five partnerships are on record, tiered core.

• FiservcoreTechnology or IntegrationFiserv provides the core mobile banking technology powering The Union Bank Mobile Banking app, enabling real-time balances, account management, mobile deposits, bill pay, card controls, and location services.
• Early Warning Services (Zelle)coreTechnology or IntegrationPartnership with Zelle, operated by Early Warning Services, provides peer-to-peer and person-to-person payment services integrated into the bank's online and mobile banking platforms.
• Elan Financial ServicescoreTechnology or IntegrationElan Financial Services provides credit card issuing and processing services for Union Bank Visa Personal and Business Credit Cards, including zero fraud liability protection, cardmember service, and rewards programs.
• SBA (Small Business Administration)coreChannel Partner/ Reseller/ DistributorSBA 7(a) loan program partner for small business lending. Bank originates SBA-guaranteed loans ranging $25,000-$150,000 with SBA guaranty reducing lender risk. Subject to SBA eligibility and approval.
• VisacoreTechnology or IntegrationVisa licensing for Union Bank VISA Personal and Business Credit Cards issued through Elan Financial Services. Card accepted at millions of locations worldwide.

Scale indicators12 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• LCNB Corp: Ohio-headquartered community bank holding company serving Southwest Ohio with similar product mix including deposits, mortgage, and small business lending.
• First Financial Bancorp: Cincinnati-based regional bank with substantial Ohio presence offering consumer and commercial banking products. Comparable in geographic overlap and business banking focus.
• Park National Corp: Ohio-based community bank holding company operating primarily in Ohio and neighboring states with similar community banking model, branch network, and consumer/commercial lending focus.
• Premier Financial Corp: Midwest-based bank holding company operating in Ohio and neighboring states with comparable commercial and consumer banking services and SBA lending.
• Farmers National Banc Corp: Ohio-headquartered community bank with significant agricultural lending exposure in similar rural Ohio markets. Highly comparable in size, geographic focus, and ag loan portfolio composition.
• Heartland BancCorp: Ohio-based community bank serving Central Ohio with similar commercial, consumer, and ag lending focus. Operates in overlapping geographic markets with comparable deposit and loan products.
• Civista Bancshares: Ohio-based community bank serving northern Ohio markets with consumer and commercial lending. Directly comparable in geographic footprint, branch size, and product offerings.

Broad incumbents

• WesBanco: Multi-state Midwest regional bank with presence in Ohio offering full-service commercial and consumer banking. Larger peer operating in overlapping Ohio markets with broader geographic reach.
• Huntington Bancshares: Major Ohio-headquartered regional bank with extensive branch network across Ohio offering similar consumer, commercial, and SBA lending products. Dominant incumbent competitor in the same Ohio geography.
• First Merchants Corp: Indiana-based regional bank holding company with commercial and consumer banking operations in the Midwest. Larger peer serving business and retail customers with comparable product set.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/TheUnionBankCompany
• LinkedInlinkedin.com/company/theunionbankco
• Instagraminstagram.com/theunionbankco

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles9 records

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about United Bancshares