12. Consolidated Financial Information-parent Company Only

12 Months Ended

Dec. 31, 2015

Notes

12. Consolidated Financial Information-parent Company Only

12.  CONSOLIDATED FINANCIAL INFORMATION—PARENT COMPANY ONLY

Condensed Balance Sheets

(Dollars in thousands)	2015	2014
Assets:
Cash and cash equivalents	$       -	$       -
Investment in United Bank of Philadelphia	2,680	3,181
Total assets	$2,680	$3,181
Shareholders’ equity:
Series A preferred stock	1	1
Common stock	8	11
Additional paid-in capital	14,753	14,750
Accumulated deficit	(12,063)	(11,568)
Net unrealized holding losses on securities available-for-sale	(19)	(13)
Total shareholders’ equity	$2,680	$3,181

Condensed Statements of Operations

Years ended December 31,
(Dollars in thousands)	2015	2014
Other Expenses	$        -	$           -
Equity in net loss of subsidiary	(495)	(343)
Net loss	$ (495)	$    (343)

United Bancshares, Inc. and Subsidiary

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - CONTINUED

December 31, 2015 and 2014

12.  CONSOLIDATED FINANCIAL INFORMATION—PARENT COMPANY ONLY (continued)

Condensed Statements of Cash Flows

Years ended December 31,
(Dollars in thousands)	2015	2014
Cash flows from operating activities:
Net loss	$ (495)	$ (343)
Adjustments:
Equity in net loss of subsidiary	495	343
Net cash used in operating activities	-	-
Cash and cash equivalents at beginning of year	-	-
Cash and cash equivalents at end of year	$       -	$       -