United Bancshares Inc Liquidation Value

UNITED BANCSHARES INC/OH (UBOH) is a single-bank holding company headquartered in Columbus Grove, Ohio, operating through its wholly owned subsidiary The Union Bank Company across 18 full-service branches and 3 loan production offices in northwest and central Ohio. The 10-K filing for the period ended December 31, 2022 incorporates financial statements by reference to Exhibit 13 (the Annual Report to Shareholders); the primary 10-K document itself contains no balance sheet, income statement, or footnote disclosures in the body of the filing provided. As a result, no XBRL tags were emitted in the TAG_CONTEXT, and no quantitative balance-sheet line items are available for direct recovery analysis from this filing body.

Under a liquidation lens, the recoverable asset base for a community bank holding company of this type is dominated by the loan portfolio and investment securities held at the subsidiary level, both subject to material haircuts reflecting credit quality, duration, and rate-environment marks. The filing's risk factors note significant unrealized losses on fixed-rate investment securities as a consequence of the 2022 rate environment, which directly compresses the liquidation-recoverable value of that asset class below book. The allowance for loan losses is flagged as potentially insufficient, introducing additional downside to net loan recovery. Goodwill and other intangibles arising from prior acquisitions carry zero liquidation value; the filing acknowledges an annual impairment test and confirms no impairment was recorded through the period, but the balance is disclosed only in the incorporated Exhibit 13 and is not separately tagged in XBRL.

On the liability side, the filing discloses an unfunded Salary Continuation Agreement (defined benefit structure) for CEO Brian D. Young with an accrued balance of $343,371 as of December 31, 2022, and a target retirement lump sum of approximately $529,000. This obligation does not extinguish on winddown. The holding company also references trust preferred securities (grantor trust structure, per Exhibit 10.1), the terms of which are not quantified in the body filing. The 10-K body does not separately disclose total assets, total deposits, total borrowings, total equity, the loan portfolio balance, or the investment securities portfolio, as all financial data is incorporated by reference to Exhibit 13. Filing discusses interest rate sensitivity, allowance adequacy, goodwill impairment risk, and the structural subordination of holding company creditors to bank-level claimants in MD&A/risk factor sections, but none of these concepts are separately tagged in XBRL. No prior filing was provided for period-over-period comparison.