I visited the FDIC website and found the results of Q2 of United Bank and Trust's as compared with other Nationally Chartered banks its size. If you'd like the spreadsheet, right click and download the spreadsheet here: UBT Q2 2010 Analysis.
Here are the highlights: Loan loss expense) as compared to other banks) was in the 95th percentile, For the comparable quarter last year it was in the 93rd percentile. For Q4 2009, Loan loss expense was in the 92 percentile.
In addition, it appears that overhead expense is high (79 percentile).
If you download the sheet, I have highlighted each line. As mentioned before, most categories are average, these two are way below average.
In each case, these are bad comparisons. Granted, Banks in Michigan are not doing very well compared to other nationally chartered banks. If you get on the FDIC website, you might be able to get a comparison of United Bank and trust compared to comparably sized banks here in Michigan.
Regardless, I thought it might be useful to study the United Bank and Trust Quarter 2 Results comparison data a few days before you're asked to vote on whether or not to authorize more shares.
If there are any comments, please feel free to opine