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Ohio-based United Bancshares projects 43-cent hit to Q4 EPS

United Bancshares Inc. expects the new corporate tax rate to lower its deferred tax assets value by approximately $1.4 million.

The estimate is based on the Columbus Grove, Ohio-based company's deferred tax assets balance of $4.5 million as of Sept. 30, of which $800,000 may still be fully recoverable alternative minimum tax credits.

The revaluation is expected to hit both fourth-quarter net earnings and tangible book value by about 43 cents per share. No impact to Tier 1 capital is projected.