Company Overview

United Bancshares, Inc. is a bank holding company operating in the community banking and financial services industry. The company conducts substantially all of its business through its wholly owned subsidiary, The Union Bank Company, which provides traditional banking products and services to individuals, small and mid-sized businesses, agricultural customers, and local governments. Revenue is primarily generated through net interest income on loans and securities, along with non-interest income from service charges, trust services, and mortgage-related activities.

The company is positioned as a relationship-focused community bank with an emphasis on local decision-making, conservative credit practices, and long-term customer relationships. Founded in 1904, the organization has evolved from a single local bank into a multi-branch regional institution in western and central Ohio, while maintaining its community banking model rather than pursuing large-scale national expansion.

Business Operations

United Bancshares, Inc. operates as a single reportable business segment: community banking, delivered through The Union Bank Company. Core products include commercial and industrial loans, commercial real estate loans, agricultural lending, residential mortgage loans, consumer loans, and deposit products such as checking, savings, money market accounts, and certificates of deposit. Additional services include wealth management, trust and estate services, online and mobile banking, and treasury management for business clients.

Operations are primarily domestic, with no material international banking activities. The company controls a network of physical branch locations, loan production offices, and digital banking platforms. Mortgage lending and wealth management activities are conducted internally rather than through large external joint ventures. Public disclosures do not indicate material joint ventures or foreign subsidiaries; banking activities are regulated under U.S. federal and Ohio state banking laws.

Strategic Position & Investments

The company’s strategic direction emphasizes organic growth, disciplined credit underwriting, and selective branch expansion within its existing markets. Growth initiatives focus on expanding commercial and agricultural lending, enhancing digital banking capabilities, and deepening customer relationships through cross-selling of financial products. Capital management is conservative, with an emphasis on maintaining strong regulatory capital ratios.

United Bancshares has historically pursued limited acquisitions, favoring internal growth over transformative mergers. When acquisitions occur, they are typically small, in-market transactions involving community banks or branch locations that complement its existing footprint. Public filings indicate no significant exposure to speculative or emerging technology sectors such as fintech platforms or cryptocurrency-related activities; digital investments are primarily aimed at improving customer experience and operational efficiency.

Geographic Footprint

The company is headquartered in Columbus Grove, Ohio, and operates primarily throughout northwestern and central Ohio. Its market presence is concentrated in smaller cities, towns, and rural communities, where it maintains strong local brand recognition and long-standing customer relationships.

United Bancshares does not maintain international operations or foreign branches. Its geographic strategy centers on deep market penetration within Ohio rather than national or global expansion, allowing management to focus on regional economic conditions, local industries, and community-based lending opportunities.

Leadership & Governance

United Bancshares, Inc. is led by an executive team with deep tenure in community banking and a strategic focus on long-term stability, prudent risk management, and shareholder value. Leadership philosophy emphasizes local autonomy, regulatory compliance, and sustainable growth aligned with community needs. The board of directors includes executives and independent directors with backgrounds in banking, agriculture, law, and regional business leadership.

Key executives include:

• Jeffrey W. Ballinger – President & Chief Executive Officer
• Randall L. Greenwood – Executive Vice President & Chief Financial Officer
• Todd A. Mason – Executive Vice President & Chief Banking Officer
• Eric J. Brubaker – Executive Vice President & Chief Risk Officer
• Mark A. Rieman – Senior Vice President & Chief Information Officer

Leadership and governance practices are outlined in the company’s SEC filings, including its Form 10-K and proxy statements, which describe executive responsibilities, board oversight, and risk management frameworks.