EXHIBIT 23 CONSENT OF INDEPENDENT AUDITORS BKD LLP We hereby consent to the incorporation by reference in the Registration Statements on Form S-8, File Numbers 333-03305, 333-03317 and 333-55680 of our report dated January 22, 2004, on the consolidated financial statements of United Bancorp Inc., which report is included in the definitive Proxy Statement for the 2004 Annual Meeting of Shareholders of United Bancorp, Inc. /S/ BKD LLP ------------------------- BKD LLP Indianapolis, Indiana March 15, 2004 Page 23