Friday, Jul 01, 2016
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Economy

United Bancshares' profit increases

COLUMBUS GROVE - United Bancshares Inc., parent of Union Bank in northwest Ohio, reported a first-quarter profit yesterday of nearly $1.1 million, or 29 cents a share, compared with $845,000, or 23 cents a share, for the period a year earlier.

Net interest income increased to $4.4 million from $3.7 million, the provision for loan losses was increased to $150,000 from $75,000 in the year-ago period, and assets were $553 million, compared with $559 million at the end of last year.

The company also declared a dividend of 12 cents a share, payable June 15 to shareholders of record May 31.

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