MARTINS FERRY, Ohio, Aug. 20, 2008 (GLOBE NEWSWIRE) -- On August 19, 2008, the Board of Directors of United Bancorp, Inc. (Nasdaq:UBCP) declared the third quarter dividend payment of $0.14 per share for shareholders of record on September 5, 2008, with a payment date of September 19, 2008, to be paid out of the Company's capital surplus account which is represented on the Company's balance sheets included in its periodic reports filed with the Securities and Exchange Commission as "Additional paid-in capital."

James W. Everson, Chairman, President and CEO stated, "This 7.69% increase in quarterly payment is in keeping with the company's policy of rewarding its shareholders for company performance. UBCP posted an earnings increase on June 30th of 31% over the first half of 2007 and projects 2008 earnings to be $0.80 per share, a 40% increase over last year." Everson concluded, "Our positive earnings is the result of our Board of Directors and Management Team working aggressively together over the past eighteen months implementing the reorganization of our affiliate banks into one charter. We are pleased to see these positive results from the efficiencies gained through the streamlining of our management and operational support positions into one banking charter."

United Bancorp, Inc. is headquartered in Martins Ferry, Ohio and is a bank holding company with total assets of approximately $427.0 million and total shareholder's equity of approximately $32.5 million as of June 30, 2008. Through its seventeen banking offices and operations center, The Citizens Savings Bank serves the Ohio Counties of Athens, Belmont, Carroll, Fairfield, Harrison, Hocking, Jefferson and Tuscarawas. The Company is a part of the Russell Microcap Index and trades on The NASDAQ Capital Market tier of the NASDAQ Stock Market under the symbol UBCP, Cusip #909911109.

Certain statements contained herein are not based on historical facts and are "forward-looking statements" within the meaning of Section 21A of the Securities Exchange Act of 1934. Forward-looking statements which are based on various assumptions (some of which are beyond the Company's control), may be identified by reference to a future period or periods, or by the use of forward-looking terminology, such as "may," "will," "believe," "expect," "estimate," "anticipate," "continue," or similar terms or variations on those terms, or the negative of these terms. Actual results could differ materially from those set forth in forward-looking statements, due to a variety of factors, including, but not limited to, those related to the economic environment, particularly in the market areas in which the company operates, competitive products and pricing, fiscal and monetary policies of the U.S. Government, changes in government regulations affecting financial institutions, including regulatory fees and capital requirements, changes in prevailing interest rates, acquisitions and the integration of acquired businesses, credit risk management, asset/liability management, changes in the financial and securities markets, including changes with respect to the market value of our financial assets, and the availability of and costs associated with sources of liquidity. The Company undertakes no obligation to update or clarify forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT: United Bancorp, Inc.
         James W. Everson, Chairman, President and CEO
           (740) 633-0445 Ext. 120
           ceo@unitedbancorp.com
         Randall M. Greenwood, Senior Vice President, CFO and Treasurer
           (740) 633-0445 Ext. 181
           cfo@unitedbancorp.com