EXHIBIT 99.1 PRESS RELEASE Contact: David S. Hickman Telephone: (517) 423-1700 Date: March 15, 2004 FOR IMMEDIATE RELEASE UNITED BANCORP, INC., ANNOUNCES CASH DIVIDEND AND DECLARES STOCK DIVIDEND TECUMSEH -- The board of directors of United Bancorp, Inc., parent company of United Bank & Trust and United Bank & Trust -- Washtenaw, has declared a first quarter cash dividend of 34 cents per share, payable April 30, 2004, to shareholders of record April 9, 2004. In addition, the board declared a 5% stock dividend on the 2,235,805 shares outstanding, payable on May 28, 2004, to shareholders of record May 3, 2004. Fractional shares will not be issued, but will be paid in cash at a rate of $65.50 per share. 5