EXHIBIT 99.5

                                  PRESS RELEASE

UNITED BANCORP ANNOUNCES RECORD NET INCOME FOR THIRD QUARTER 2003
OCTOBER 15, 2003

United Bancorp, Inc. reports record net income for the third quarter 2003 of
$2,065,550, which is 13.3% higher than the same quarter of the prior year. Net
income for the first three quarters of 2003 was a record $5,550,486, which
represents an increase of 7.7% over the first three quarters of 2002.

With interest rates at 45-year historical lows, United indicates that it
continues to struggle to maintain its net interest margin. Throughout the first
nine months, earnings were helped by an increase in noninterest income,
primarily from loan sales and servicing activities. However, as the longer-term
interest rates increased beginning in August, the residential refinancing boom
appears to be over for now, and the financial services company indicated it will
not continue to enjoy the extraordinary levels of noninterest income of the past
several months.

United's steady growth continues. During the year, deposits have increased by
$33.9 million, or 7.2%. At September 30, assets under management reached $1.529
billion, which is a 15.2% increase over the past 12 months.

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.












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