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United Bancorp Q1 net earnings up

United Bancorp has reported net earnings of $903,000 for the first quarter ended March 31, 2008, compared to $718,000 for the corresponding period of 2007.

The diluted earnings per share were $0.20 for the first quarter of 2008, an increase of 25% compared to $0.16 for the same period in 2007.

Randall Greenwood, senior vice president, CFO and treasurer at United Bancorp, said: The company’s three month earnings in 2008 generated an annualized 0.81% return on average assets and a 10% return on average equity, compared to 0.69% ROA and 8.8% ROE for the comparable three month period in 2007.