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UNITED BANCSHARES, INC. ANNOUNCES FIRST QUARTER 2025 RESULTS AND $0.23 DIVIDEND

1. UBOH declared a quarterly dividend of $0.23, a 4.5% increase. 2. Q1 net income reached $2.8 million, a significant rise year-over-year. 3. Return on average tangible equity increased to 15.78%, showing enhanced profitability. 4. Loan growth of $17.9 million reflects robust demand and effective lending strategies. 5. Strong asset quality metrics indicate low charge-offs and stable loan performance.

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Why Bullish?

The increase in net income and dividends suggests strong financial health. Historically, similar earnings growth has led to positive stock price movements.

How important is it?

The reported financial metrics and dividend increase directly attract investor interest and signify corporate strength.

Why Short Term?

The immediate announcement of dividends and financial results typically impacts short-term investor sentiment. Anticipated share repurchases may also drive immediate interest.

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, /PRNewswire/ -- United Bancshares, Inc. (OTCQX: UBOH) Quarterly cash dividend declared of $0.23 per share, a 4.5% increase, for shareholders of record on May 30, 2025, payable on June 16, 2025. Based on the average closing price for the first quarter, this is a 3.23% dividend yield. Net income of $2.8 million or $0.94 per share for the 2025 first quarter. This is a $959,000 increase from $1.8 million or $0.61 per share in the comparable period in 2024. Return on average assets of 0.94% for the 2025 first quarter, an increase from 0.69% in the comparable period in 2024. Return on average tangible equity of 15.78% for the 2025 first quarter, an increase from 11.33% in the comparable period in 2024. Net interest margin of 3.59% for the 2025 first quarter, an increase from 3.03% in the comparable period in 2024. Loan growth of $17.9 million, annualized growth rate of 9.4% from December 31, 2024. Deposit growth of $3.9 million, annualized growth rate of 1.5% from December 31, 2024. Asset quality metrics remain strong with stable non-performing and classified loans. Charge-offs remain at historically low levels through March 31, 2025. About The Union Bank Company: Since 1904, The Union Bank Company has been here to provide full-service banking to the people and businesses throughout the communities we serve. Today, the bank has 14 full-service branch locations across Northwest and Central Ohio, including Bowling Green, Columbus Grove, Delphos, Findlay, Gibsonburg, Kalida, Leipsic, Lewis Center, Lima, Marion, Ottawa, Paulding and Pemberville. We have Interactive Teller Machines (ITMs) located at all of our branch locations with additional ITM only locations in Lima, Marion, Paulding and Westerville. The Union Bank Company is headquartered in Columbus Grove, Ohio, and remains committed to providing the best banking service and products to all the communities we serve. Learn more at www.theubank.com. Contact:Brian D. Young, President and CEOKlint D. Manz, Chief Financial Officer419.659.2141 United Bancshares, Inc.Quarterly ReportMarch 31, 2025 Shareholders, Clients, and Team Members: I am pleased to report that your Company had a strong start to 2025 with reported net income of $2.8 million ($0.94/share) and 15.78% return on average tangible equity. During the first quarter the Company also reported $17.9 million in loan growth (9.36% annualized) and $3.9 million in deposit growth (1.45% annualized). Net interest margin also improved to 3.59% from 3.03% and 3.39% in the first and fourth quarters of 2024, respectively. While credit quality remained stable, the company did allocate $93,000 to provision for credit losses primarily as the result of the noted loan growth. As a result of these successes, the Board of Directors declared a $0.23 per share quarterly dividend, a 4.5% increase from fourth quarter 2024, payable on June 16th for shareholders of record on May 30th. The dividend is 24.5% of the reported net income for the first quarter of 2025. Throughout 2025, we plan to continue to grow the number and size of client relationships, introduce an all-new digital platform for our clients, provide clients weekday access to a live teller from 7am – 7pm at all our locations as well as online chat, and identify new technology to create internal efficiencies.  While we expect to offer all these services and technology enhancements, we do not expect to see an increase in costs because of new and renegotiated vendor contracts and technology implementation. We believe that effectively implementing technology will promote growth and provide the opportunity to increase the effectiveness of our team members in serving our clients. Management also intends to continue to repurchase shares as opportunities to create value for our shareholders present themselves. The continued accomplishments of your Company are the undeniable result of the ongoing efforts of the Company's dedicated team members and Board of Directors in implementing our Strategic Plan. Their efforts and our strong corporate values of respect for and accountability to our shareholders, clients, colleagues, and communities are the foundation for the continued success of your Company.  Thank you for your ongoing support and the trust you have placed in us. Respectfully, Brian D. YoungPresident & CEO March 31, 2025 December 31, 2024 Cash and cash equivalents $     92,368,000 $     95,283,000 Securities 228,827,000 242,069,000 Loans 784,925,000 766,987,000 Less allowance for credit losses (8,268,000) (7,937,000) Other assets 98,675,000 92,928,000 Total Assets $1,196,527,000 $1,189,330,000 Deposits $1,074,983,000 $1,071,105,000 Borrowings 16,836,000 17,091,000 Other liabilities 6,279,000 6,394,000 Total Liabilities 1,098,098,000 1,094,590,000 Common stock and surplus 21,758,000 21,461,000 Retained earnings 126,961,000 124,822,000 Accumulated other comprehensive (loss) income (33,426,000) (34,786,000) Treasury stock (16,864,000) (16,757,000) Total shareholders' equity 98,429,000 94,740,000 Total Liabilities and Shareholders' Equity $1,196,527,000 $1,189,330,000 Common shares outstanding 2,983,571 2,964,007 Book value $32.99 $31.96 Tangible book value (non-GAAP) $23.37 $22.28 Closing price $26.75 $31.00 Allowance for credit losses to loans (end of period, excluding LHFS) 1.06 % 1.04 % Loans to deposits 73.02 % 71.61 % 3 months ended 3 months ended March 31, 2025 March 31, 2024 Interest income $14,184,000 $11,871,000 Interest expense 4,641,000 4,723,000 Net interest income 9,543,000 7,148,000 Provision for credit losses 93,000 (291,000) Net interest income after provision 9,450,000 7,439,000 Non-interest income 1,801,000 2,279,000 Non-interest expense 8,124,000 7,787,000 Income before federal income taxes 3,127,000 1,931,000 Federal income taxes 335,000 98,000 Net Income $2,792,000 $1,833,000 Average common shares outstanding 2,968,959 3,026,556 Per Share Data: Net income (basic) $0.94 $0.61 Cash dividends declared $0.23 $0.22 Dividend yield (annualized) based on quarterly avg closing price 3.23 % 4.66 % Performance Ratios: Return on average assets 0.94 % 0.69 % Return on average tangible shareholders' equity 15.78 % 11.33 % Net interest margin 3.59 % 3.03 % Credit Quality and Other Ratios: Net loan charge-offs (recoveries) as a percentage of average outstanding net loans (0.13 %) 0.00 % United Bancshares, Inc Directors Robert L. Benroth Herbert H. Huffman III H. Edward Rigel Daniel W. Schutt, Chairman R. Steven Unverferth Brian D. Young Officers Brian D. Young, President/CEO Denise E. Giesige, Secretary Klint D. Manz, CFO The Union Bank Co. Directors Robert L. Benroth Anthony M. V. Eramo Herbert H. Huffman III Kevin L. Lammon John P. Miller William R. Perry H. Edward Rigel Carol R. Russell Daniel W. Schutt R. Steven Unverferth Dr. Jane M. Wood Brian D. Young, Chairman Investor MaterialsUnited Bancshares, Inc. has traded its common stock on the OTCQX Markets Exchange under the symbol "UBOH". Annual and quarterly shareholder reports, regulatory filings, press releases, and articles about United Bancshares, Inc. are available in the Investor Relations section of our website theubank.com or by calling 800-837-8111. SOURCE United Bancshares, Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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