Parent Company Only Financial Information

12 Months Ended

Dec. 31, 2011

Condensed Financial Information Of Parent Company Only Disclosure [Abstract]

Condensed Financial Information Of Parent Company Only Disclosure [Text Block]

NOTE 21 - PARENT COMPANY ONLY FINANCIAL INFORMATION

The condensed financial information for United Bancorp, Inc. is summarized below.

CONDENSED BALANCE SHEETS	December 31,
In thousands of dollars	2011		2010
Assets
Cash and cash equivalents	$	4,914	$	8,800
Securities available for sale		31		28
Investment in subsidiaries		87,747		83,486
Other assets		1,122		438
Total Assets	$	93,814	$	92,752
Liabilities and Shareholders' Equity
Liabilities	$	40	$	48
Shareholders' equity		93,774		92,704
Total Liabilities and Shareholders' Equity	$	93,814	$	92,752

CONDENSED STATEMENTS OF OPERATIONS	For the years ended December 31,
In thousands of dollars	2011			2010			2009
Income
Dividends from subsidiaries	$	-		$	-		$	-
Other income		1			2,398			11,144
Total Income		1			2,398			11,144
Total Noninterest Expense		480			3,083			11,757
Loss before undistributed net income of subsidiary and income taxes		(479	)		(685	)		(613	)
Income tax benefit		(163	)		(222	)		(258	)
Net loss before undistributed net income of subsidiary		(316	)		(463	)		(355	)
Equity in undistributed (excess distributed) net income of subsidiary		1,233			(3,245	)		(8,478	)
Net Income (Loss)		917			(3,708	)		(8,833	)
Other comprehensive income (loss), including net change in unrealized gains on securities available for sale		1,030			(655	)		358
Comprehensive Income (Loss)	$	1,947		$	(4,363	)	$	(8,475	)

CONDENSED STATEMENTS OF CASH FLOWS	For the years ended December 31,
In thousands of dollars	2011			2010			2009
Cash Flows from Operating Activities
Net Loss	$	917		$	(3,708	)	$	(8,833	)
Adjustments to Reconcile Net Income to Net Cash from Operating Activities
(Undistributed) Excess distributed net income of subsidiary		(1,233	)		3,245			8,478
Stock option expense		114			92			150
Change in other assets		(687	)		1,684			(727	)
Change in other liabilities		(8	)		(626	)		(292	)
Total adjustments		(1,814	)		4,395			7,609
Net cash from operating activities		(897	)		687			(1,224	)
Cash Flows from Investing Activities
Investments in subsidiary		(2,000	)		(13,500	)		(15,600	)
Change in loan to subsidiary		-			2,400			(2,400	)
Net change in premises and equipment		-			2,261			309
Net cash from investing activities		(2,000	)		(8,839	)		(17,691	)

Cash Flows from Financing Activities
Proceeds from issuance of preferred stock and warrants		-			-			20,600
Proceeds from common stock transactions		41			17,138			98
Cash dividends paid on common and preferred stock		(1,030	)		(1,030	)		(957	)
Net cash from financing activities		(989	)		16,108			19,741
Net Change in Cash and Cash Equivalents		(3,886	)		7,956			826
Cash and cash equivalents at beginning of year		8,800			844			18
Cash and Cash Equivalents at End of Year	$	4,914		$	8,800		$	844