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United BanCorp of Alabama builds 'substantial' strength on balance sheet as it navigates pandemic

United Bancorporation of Alabama, Inc. (OTCQX: UBAB) CEO Robert Jones tells Proactive the community bank recently reported 1Q earnings including net income of $2.3 million for the three months ended March 31, 2020 compared to net income of $1.6 million for the same period last year.

Jones says while its upcoming 2Q is not an indication of its past or its future performance, the firm has been building 'substantial' strength on its balance sheet it continues to build reserves to navigate the current pandemic.

Quick facts: United BanCorp of Alabama Inc

Price: 20.37 USD

OTCQX:UBAB
Market: OTCQX
Market Cap: $75.59 m
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