Category Archives : Quarterly Report


United Bank and Trust- Loan Discussion

I want to talk about the Bank's Balance Sheet, and (in my opinion) the most important Balance sheet item is the Loan Portfolio and the Loan activity of the bank.  Some might argue that deposits and liquidity are more important, but the Loan Portfolio and the accompanying loan loss accruals have been the source of […]

Continue Reading

UBMI- Q4 and Year End Results

The Management of United Bank and Trust announced last week that it had made a small profit for 2011.  You can go to the SEC website and read the Shareholder letter if you haven't received it already.  Basically it says that they're happy to be profitable, things are trending in the right direction, and they're […]

Continue Reading

United Bank and Trust Third Quarter Report

A few days ago, United Bank and Trust published its Third Quarter Report.  As I suspected, the news was disappointing.  The bank lost $2.1M (ignoring the $284K TARP money dividend payment), due mostly to loan loss expense of $6M.  In addition to loan loss expense, for whatever reason, this quarter the bank showed increased ORE […]

Continue Reading


United Bank and Trust- Q2 Results and Analysis

United Bank and Trust Michigan 2011 Q2 Results- Breakeven, Same as Q1 United Bank and Trust posted its Q2 results a few weeks ago.  I am sorry I haven't written about this earlier but the results are the same as in the past.  Basically the bank is running at break even.  It is accruing loan […]

Continue Reading

United Bank and Trust- Second Quarter Results Soon

Second Quarter Results are Forthcoming United Bank and Trust will soon be publishing its second quarter results.  As usual, go to www.sec.gov and search for the bank's stock symbol (UBMI) and find the 2011 8-K report.  Unlike last year, I'm not going to forecast this year's results.  Turns out the results were even worse than […]

Continue Reading

United Bank and Trust- 2011 First Quarter Results

As predicted, on Friday, the United Bank and Trust posted its first quarter results.  Click the link to see the first quarter results.  Here are the highlights: Core Earnings Year over Year:  In the neighborhood of $3.1M as compared to $3.1M in 2010.  Basically the same result. Loan Loss Expense Year over Year:  Loss of […]

Continue Reading

United Bank and Trust- Fourth Quarter Results

United Bank and Trust Fourth Quarter Results On Thursday, United Bank and Trust posted its Fourth Quarter results: Q4 2010 Net Income: $484 K (vs -$482 in 2009) 2010 Net Loss: -$2.8 M (vs -$8.83M in 2009 or -$6.49M adjusted for the goodwill charge) Q4 2010 Provision for loan loss: $3.5M (vs $5.3M in 2009) […]

Continue Reading

United Bank and Trust- Third Quarter Results Part 2

Why was there a Profit in the Third Quarter? In the previous post, I asked the question:  How could United Bank and Trust take a $3.5M charge to earnings due to loan loss expense and still have a $1.3M Profit before taxes.  Here is the answer: The basic setup is that United Bank and Trust makes […]

Continue Reading