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United Bancorp closes Powhatan Point deal

United Bancorp Inc. on Oct. 15 completed the acquisition of Powhatan Point Community Bancshares Inc.

Also, the United Bancorp board increased the board's size by one member; and Carl Novak was appointed as a director of the company, pursuant to the deal between the two companies for a Powhatan director to be appointed as a board member. Novak was also appointed as a director of unit Unified Bank.

As of Sept. 30, Martins Ferry, Ohio-based United Bancorp had $525.3 million in assets, while Ohio-based Powhatan Point had approximately $62.9 million in assets as of June 30, according to S&P Global Market Intelligence data.