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Here are 1-3 brief analogies to describe USBC:

• Like a community-focused version of a larger regional bank such as PNC Bank.
• Think of it as a hyper-local KeyBank, deeply embedded in specific communities in Eastern Ohio and Northern West Virginia.

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• Consumer Banking: Provides a range of personal financial products including checking and savings accounts, personal loans, and credit cards for individual customers.
• Commercial and Business Banking: Offers banking, lending, and treasury management solutions tailored for small businesses, middle-market companies, and large corporations.
• Wealth Management and Investment Services: Delivers financial planning, investment management, trust services, and brokerage solutions for individuals and institutional clients.
• Payment Services: Facilitates transactions through credit and debit card issuing, merchant acquiring services, and other payment processing solutions.
• Mortgage Banking: Originates, sells, and services residential mortgage loans to assist customers with home purchases and refinancing.

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United Bancorp, Inc. (USBC) is a bank holding company that operates a community bank. As such, it primarily serves individuals and local businesses within its operating regions rather than a few large corporate customers. Its major customers fall into the following categories:

• Individual Consumers: This category includes individuals and families who utilize the bank's services for deposit accounts (checking, savings, money market accounts, certificates of deposit), residential mortgages, home equity loans, personal loans, and other consumer banking products.
• Small to Medium-Sized Businesses (SMBs): Local businesses form a significant customer base, requiring commercial loans (e.g., lines of credit, term loans, commercial real estate loans), business deposit accounts, treasury management services, and other business banking solutions.

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Greg Kidd, Chairman & CEO

Greg Kidd was appointed Chairman and CEO of USBC, Inc. in August 2025, following a $125 million strategic acquisition by Goldeneye 1995 LLC, an affiliate of his. He is also the co-founder and CEO of Hard Yaka since 2010 and has been the Majority Shareholder in Vast Bank Holdings, a nationally chartered bank, since 1982. Kidd is recognized as an early investor in prominent companies such as Twitter, Square (Block), Coinbase, Robinhood, Solana, Ripple, Uphold, and Brave. Prior to this, he cofounded DMSC, which he took public on the Nasdaq, achieving $250 million in revenue and employing 6,500 staff globally, after a tenure at Booz Allen Hamilton from 1984 to 1990. His experience also includes serving in the payments division of the Board of Governors of the Federal Reserve System from 2002 to 2004 and as a director at the financial regulatory consulting firm Promontory Financial Group from 2004 to 2013. He held the position of Chief Risk Officer at Ripple from 2013 to 2015.

Kitty Payne, CFO

Kitty Payne brings over 30 years of experience in leadership roles within both public and private financial services companies. She previously served as Chief Financial Officer of Commercial Bank of California, a privately held commercial bank, and its wholesale ACH financial technology subsidiary. Her public company experience includes executive roles at Fidelity Bank (Nasdaq:LION) from 2013 to 2018, Capital Bank (Nasdaq:CBF) from 2010 to 2013, and First National Bank of the South (Nasdaq:FNSC) from 1999 through 2010. Payne is an alumna of KPMG, where she began her professional career in 1992. She holds a B.S. in Financial Management from Clemson University and is a Certified Public Accountant in South Carolina.

Kirk Chapman, COO

Kirk Chapman has more than 20 years of experience in technical banking and payments. He is the co-founder and CEO of Omnumi, Inc., an identity and compliance-based stablecoin platform that underpins USBC, a position he has held since February 2023. Chapman advised Anthony Noto, CEO of SoFi, from August 2017 to June 2022, contributing to the billion-dollar acquisitions of Galileo and Technisys, as well as the acquisition of Golden Pacific Bank. His prior roles include Head of Strategy at Galileo from August 2021 to June 2022 and VP of Technology Operations at SoFi from August 2017 to August 2021. Before SoFi, Chapman was Head of Technology at Independence National Bank from 2016-2017, where he was responsible for developing an online lending platform and overseeing the first US installation of a global banking core.

Linda Margaret Jenkinson, Vice Chair

Linda Margaret Jenkinson has over 25 years of global governance experience across NASDAQ, NZX, and ASX exchanges, with extensive public board experience in both financial services and medtech industries. She has served as chair and on various committees including audit and risk, capital, remuneration, and nominating committees. Currently, she is the Chair and Chief Executive Officer of Vast Bank Holdings since February 2025, Global Chair of Straker (ASX:STL) since July 2025, and a director of The Vinyl Group (ASX:VNL) since November 2025.

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Key risks to USBC Inc. (symbol: USBC) include:

1. Poor Financial Performance and Stock Volatility: USBC Inc. has experienced significant price volatility, with its shares decreasing by nearly 88% year-to-date. The company's overall financial health score is weak, particularly in profitability and price momentum, and its probability of outperforming the market in the short term is below average.
2. Risks Associated with Digital Asset and Blockchain Technology Focus: The company has adopted a bitcoin treasury strategy and is focused on developing a USBC deposit token, a U.S.-dollar denominated tokenized deposit that operates on blockchain technology. This strategic direction exposes the business to inherent uncertainties and risks associated with the rapidly evolving financial landscape of digital assets, including potential regulatory changes, market acceptance challenges, and technological implementation hurdles that are difficult to predict and often beyond the company's control.
3. Capital Management and Funding Uncertainty: USBC Inc.'s at-the-market (ATM) financing arrangement lacks detailed disclosures regarding the exact number of shares to be sold and the total proceeds, which are not determinable at this time. Furthermore, the company's management retains discretion over the application of these proceeds, introducing ambiguity and potential uncertainty regarding future capital allocation and its impact on the business.

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• Disruptive Fintechs and Neobanks: The emergence of online-only banks (neobanks) and various financial technology (Fintech) companies that offer digital-first banking experiences, often with lower fees, higher interest rates on deposits, and specialized lending platforms. These competitors directly challenge USBC's traditional branch-centric model by attracting digitally-savvy consumers and small businesses with superior convenience, user experience, and often more competitive pricing, thereby eroding market share and potentially making physical branches and legacy banking infrastructure less relevant.
• Increased Digital Investment and Competition from Larger Banks: Larger regional and national banks, with significantly greater resources, are investing heavily in advanced digital platforms, sophisticated mobile banking applications, and AI-driven customer service. This allows them to offer a broader range of complex digital products and services that can rival or surpass those of smaller community banks like USBC, even in their local markets. These larger institutions can attract customers seeking advanced digital capabilities and a wider array of services, effectively competing for USBC's customer base while maintaining perceived security and scale.

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USBC, Inc. (symbol: USBC) operates in the markets of tokenized deposits, digital identity solutions, and non-invasive health monitoring research.

Tokenized Deposits

The global addressable market for tokenized deposits was valued at approximately USD 3.2 billion in 2024. This market is projected to grow significantly, reaching an estimated USD 24.7 billion by 2033, with a Compound Annual Growth Rate (CAGR) of 22.8% from 2025 to 2033. Another estimate projects the market to reach USD 38.7 billion by 2033, with a CAGR of 32.1%.

North America holds the largest share of the tokenized deposits market, accounting for approximately 38% in 2024. The Asia Pacific region is expected to demonstrate the fastest growth, with a CAGR of 25.1% through 2033.

Digital Identity Solutions

The global digital identity solutions market was valued at around USD 42.12 billion in 2024 and is projected to reach USD 133.19 billion by 2030, exhibiting a CAGR of 21.2% from 2024 to 2030. Other estimates place the 2024 market size at USD 39.07 billion, growing to USD 98.64 billion by 2030 at a CAGR of 16%, or USD 36.19 billion in 2024, expanding to USD 153.63 billion by 2032 with a CAGR of 19.9%.

North America dominated the digital identity solutions market with a 35.78% revenue share in 2024. The Asia Pacific region is anticipated to register the fastest CAGR over the forecast period.

Non-Invasive Health Monitoring Devices

The global market for non-invasive monitoring devices was valued at USD 21.5 billion in 2024 and is projected to reach USD 36.39 billion by 2031, growing at a CAGR of 7% from 2024 to 2031. Another source indicates the market was over USD 23.4 billion in 2025 and is estimated to reach USD 44.8 billion by the end of 2035, with a CAGR of 7.5% from 2026-2035. North America is projected to account for the largest share, approximately 40.4% by 2035.

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Here are 3-5 expected drivers of future revenue growth for U.S. Bancorp (USB) over the next 2-3 years:

1. Expansion of Fee-Based Businesses: U.S. Bancorp anticipates continued revenue growth from the strong momentum in its fee-based businesses. This includes core growth and new business momentum across its payments, trust and investment management, and other fee revenue streams, with non-interest income representing a significant portion of total net revenue.
2. Organic Growth and Product Development: The company is focused on organic growth strategies and expanding its product offerings. This includes the introduction of new product capabilities within its capital markets business.
3. Strategic Balance Sheet Positioning for Net Interest Margin Expansion: U.S. Bancorp is taking actions to strategically position its balance sheet for near-term net interest margin expansion, with an anticipated target of a 3% net interest margin by 2027.
4. Growth in Specialized Lending Areas: Future revenue growth is expected to be robust in specialized areas such as environmental finance, affordable housing, and community finance solutions, with some anticipated growth tied to recent executive orders.
5. Positive Operating Leverage and Efficiency Gains: The bank aims to achieve positive operating leverage by prudently managing expenses and capturing operational efficiencies. U.S. Bancorp expects to deliver over 200 basis points of positive operating leverage in 2025, driven by productivity and self-funded investments in its franchise.

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Share Issuance

• USBC, Inc. increased the amount available for sale under its existing at-the-market equity offering program to $14.5 million.
• Since December 31, 2024, USBC sold 1,708,124 shares through this program, generating gross proceeds of approximately $1,269,236.
• On August 6, 2025, the company issued 357.8 million shares in a private placement for 1,000 Bitcoin and $15 million in cash, resulting in an 81% change of control.

Inbound Investments

• On August 6, 2025, Know Labs, Inc. (now USBC, Inc.) completed a private placement that involved issuing approximately 357.8 million shares in exchange for 1,000 Bitcoin and $15 million in cash.
• This private placement resulted in a change of control, with the buyer acquiring 81% of the company's shares.