1. Summary of Significant Accounting Policies: Loans Held For Sale (Policies)	9 Months Ended
Sep. 30, 2018
Policies
Loans Held For Sale	Loans Held for Sale The Bank originates SBA loans for which the guaranteed portion is intended to be sold within a short period of time in the secondary market. These loans are carried at fair value based on a loan-by-loan valuation using actual market bids. Any change in the balance of the loan and its fair value is recorded as income or expense in each reporting period. When the guaranteed portion of the loan is sold, the gain on the sale is reduced by the income previously recognized as part of the fair value adjustment.

1. Summary of Significant Accounting Policies: Loans Held For Sale (Policies)

9 Months Ended

Sep. 30, 2018

Loans Held for Sale

The Bank originates SBA loans for which the guaranteed portion is intended to be sold within a short period of time in the secondary market. These loans are carried at fair value based on a loan-by-loan valuation using actual market bids. Any change in the balance of the loan and its fair value is recorded as income or expense in each reporting period. When the guaranteed portion of the loan is sold, the gain on the sale is reduced by the income previously recognized as part of the fair value adjustment.

UNITED BANCSHARES INC /PA 10-Q/A