United Bancshares, Inc. (UBOH) has reported a 6.69 percent fall in profit for the year ended Dec. 31, 2016. The company has earned $5.52 million, or $1.68 a share in the year, compared with $5.92 million, or $1.77 a share for the last year.
Revenue during the year went up marginally by 0.14 percent to $25.05 million from $25.01 million in the previous year. Net interest income for the quarter dropped 6.57 percent over the prior year period to $19.40 million. Non-interest income for the year rose 5.74 percent over the last year to $4.90 million.
United Bancshares, Inc. has made negative provision of $0.75 million for loan losses during the year, compared with a positive provision of $0.38 million in the same period last year.
Net interest margin contracted 17 basis points to 3.54 percent in the year from 3.71 percent in the last year. Efficiency ratio for the year deteriorated to 71.71 percent from 68.13 percent in the previous year. A rise in efficiency ratio suggests a fall in profitability.
Loans to deposits ratio was 71.68 percent for the year, up from 67.59 percent for the previous year.
Return on average assets moved down 4 basis points to 0.90 percent in the year from 0.94 percent in the last year. At the same time, return on average equity decreased 57 basis points to 7.94 percent in the year from 8.51 percent in the last year.
Book value per share was $22.21 for the year, up 2.73 percent or $0.59 compared to $21.62 for the same period last year.
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