UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
November 28, 2007
(Date of Report (Date of Earliest Event Reported))
UNITED BANCORP, INC.
--------------------
(Exact name of registrant as specified in its charter)
MICHIGAN 0-16640 38-2606280
-------- ------- ----------
(State or other jurisdiction Commission (I.R.S. Employer
of incorporation or organization) File Number Identification No.)
205 E. CHICAGO BOULEVARD, TECUMSEH, MI 49286
---------------------------------------------
(Address of principal executive offices)
(517) 423-8373
--------------
(Registrant's telephone number including area code)
N/A
---
(Former name, former address and former fiscal year,
if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligations of the registrant under any of the
following provisions:
|_| Written communications pursuant to Rule 425 under the Securities Act
(17 CFR 230.425)
|_| Soliciting material pursuant to Rule 14a-12 under the Exchange Act
(17 CFR 240.14a-12)
|_| Pre-commencement communications pursuant to Rule 14d-2(b) under the
Exchange Act (17 CFR 240.14d-2(b))
|_| Pre-commencement communications pursuant to Rule 13e-4(c) under the
Exchange Act (17 CFR 240.13e-4(c))
1
Item 5.02 DEPARTURE OF DIRECTORS OR CERTAIN OFFICERS; ELECTION OF DIRECTORS;
APPOINTMENT OF CERTAIN OFFICERS; COMPENSATORY ARRANGEMENTS OF
CERTAIN OFFICERS.
(b)(c) On November 28, 2007, registrant announced the appointment of
Randal J. Rabe as the Company's Chief Financial Officer
(principal financial officer), effective as of December 1, 2007.
Mr. Rabe also serves as an Executive Vice President of the Company.
Mr. Rabe replaces Dale L. Chadderdon, who, effective as of
December 1, 2007, has become a Senior Vice President and assumed
other responsibilities within the Company. Mr. Rabe will continue
to operate under his existing employment agreement with the Company
through December 31, 2007, at which time it is anticipated a new
agreement will be entered into.
Mr. Rabe's five-year business experience is as follows:
Randal J. Rabe, age 48; Chief Financial Officer (since December
2007) and Executive Vice President (since 2003) of the Company;
President (2003 - December 2007) & Chief Executive Officer
(2005 -December 2007) and Director (since 2003) of United Bank
& Trust; Group Controller for LifeStyle Furnishings International,
Ltd, High Point, N.C. (1998-2003).
Mr. Rabe is indebted to one of the Company's subsidiary banks
(the "Bank") which has made loans to him in the ordinary course of
business. Such loans were outstanding during 2006 and are currently
outstanding. All such loans and commitments were made by the Bank
on substantially the same terms, including interest rates,
collateral and repayment terms, as those prevailing at the time for
comparable transactions with other persons not related to the Bank,
and did not involve more than the normal risk of collectibility or
present other unfavorable features.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned thereunto duly authorized.
United Bancorp, Inc.
(Registrant)
By:
Date: November 28, 2007 /S/ Robert K. Chapman
--------------------------------------
Robert K. Chapman
President and Chief Executive Officer
2