EXHIBIT 99.3

                                  PRESS RELEASE

Date:    July 14, 2003

UNITED BANCORP, INC.

TECUMSEH, Mich. -- United Bancorp, Inc. reports net income for the first half of
2003 was a record $3,484,936, which represents a 4.7% increase over the first
half of 2002. Additionally, during the second quarter, a 5% stock dividend was
paid to shareholders, and the price of its stock increased to $62 per share.

Net income for the second quarter 2003 was $1,702,275, which is substantially
the same as the second quarter of the prior year. With declining interest rates,
community banks are having a very hard time maintaining net interest margins and
United is no exception. During the first six months of this year, net interest
margin declined by 26 basis points, and with the Federal Reserve lowering
short-term interest rates in late June 2003, the challenge in the remaining half
of the year is even more difficult.

The decline in net interest margin has been offset by a 24.8% increase in
noninterest income. Gains on loan sales and servicing in the first half of the
year totaled $1.6 million, which is 169% ahead of the first half of 2002. With
continuing low interest rates, heavy residential real estate mortgage activity
is expected to continue for the balance of the year. However, United is
preparing to live without this source of income once interest rates start to
rise as individuals no longer are refinancing their existing mortgages.

Residential real estate mortgage activity is very brisk; during the first half
of 2003, mortgage production is ahead by 88%. Business lending in the Lenawee
market has produced slight increases in that portfolio, while in the Washtenaw
market, we have seen excellent growth in that category. Overall, our loan
portfolio decreased by $7.4 million during the first six months, as mortgages
that were held in United's portfolio have been refinanced into long-term, fixed
rate mortgages that are sold in the secondary market.

United experienced excellent growth during the first half of the year, as
deposits increased by $30.8 million and solid growth was achieved in our Trust &
Investment Group assets under management.

United Bancorp, Inc. is a financial holding company that is the parent company
for United Bank & Trust and United Bank & Trust -- Washtenaw. The subsidiary
banks operate 17 banking offices in Lenawee, Washtenaw and Monroe Counties, and
have assets under management totaling $1.488 billion.








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