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<BR WP="BR1"><BR WP="BR2">
<P>
<P>Registration No. &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U></U></P>

<P ALIGN="CENTER"><U></U>SECURITIES AND EXCHANGE COMMISSION</P>

<P ALIGN="CENTER">Washington, D.C.  20549</P>

<P ALIGN="CENTER">FORM S-8</P>

<P ALIGN="CENTER">REGISTRATION STATEMENT</P>

<P ALIGN="CENTER">UNDER</P>

<P ALIGN="CENTER">THE SECURITIES ACT OF 1933</P>

<P ALIGN="CENTER">United Bancshares, Inc.</P>

<P ALIGN="CENTER">(Exact name of Registrant as specified in its Charter)</P>

<P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>Ohio&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>                  &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U> 34-1516518&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U></P>

<P>(State of Incorporation)		(I.R.S. Employer Identification No.)</P>

<P ALIGN="CENTER">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;<U>100 South High Street, Columbus Grove, Ohio&nbsp;&nbsp;45830</U></P>

<P ALIGN="CENTER">(Address of Principal Executive Offices)               (Zip Code)</P>

<P ALIGN="CENTER">United Bancshares, Inc. Incentive Stock Option and Non-Statutory Stock Option Plan</P>

<P><U>	United Bancshares, Inc. Stock Based Incentive Plan		</U></P>

<P ALIGN="CENTER">(Full Titles of the Plans)</P>

<P ALIGN="CENTER">E. Eugene Lehman, President</P>

<P ALIGN="CENTER">United Bancshares, Inc.</P>

<P ALIGN="CENTER">100 South High Street</P>

<P ALIGN="CENTER">Columbus Grove, Ohio  45830</P>

<P><U>	(419) 659-2141	</U></P>

<P ALIGN="CENTER">(Name, address, including zip code, and telephone number,</P>

<P ALIGN="CENTER">including area code, of agent of service)</P>

<P ALIGN="CENTER">Copy To:</P>

<P ALIGN="CENTER">Susan B. Zaunbrecher, Esq.</P>

<P ALIGN="CENTER">Dinsmore &amp; Shohl</P>

<P ALIGN="CENTER">1900 Chemed Center</P>

<P ALIGN="CENTER">255 East Fifth Street</P>

<P ALIGN="CENTER">Cincinnati, Ohio  45202</P>

<P><U>	513) 977-8200		</U></P>

<BR WP="BR1"><BR WP="BR2">
<P ALIGN="CENTER">CALCULATION OF REGISTRATION FEE</P>

<BR WP="BR1"><BR WP="BR2">
<TABLE WIDTH="100%">
<TR VALIGN="TOP"><TD>Title of
Securities To Be
Registered</TD>
<TD>Amount To Be
Registered</TD>
<TD>Proposed
Maximum
Offering Price
Per Share</TD>
<TD>Proposed
Maximum
Offering Price*</TD>
<TD>Amount of
Registration Fee</TD></TR>
<TR VALIGN="TOP"><TD>Common Stock,
no par value</TD>
<TD>264,838</TD>
<TD>$8.925</TD>
<TD>$2,363,679.15</TD>
<TD>$590.92</TD></TR></TABLE>

<BR WP="BR1"><BR WP="BR2">
<P>[* Pursuant to Rule 457(c) of Registration C, the registration filing fee and the aggregate offering
price shall be computed with respect to the maximum number of the Registrant's securities issuable
under the plans covered by this Registration Statement based on the average of the high and low
prices of Registrant's Common Stock reported on the Nasdaq National Market on October 15, 2001,
a date within 5 business days prior to the date of filing of this Registration Statement.]</P>

<P ALIGN="CENTER">PART I</P>

<P ALIGN="CENTER">INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS</P>

<P>The documents containing the information specified in Part I for the United Bancshares, Inc.
Incentive Stock Option and Non-Statutory Stock Option Plan and the United Bancshares, Inc. Stock
Based Incentive Plan will be sent or given to employees as specified by Rule 428(b)(1) of the
Securities Act of 1933.  In accordance with the instructions to Part I of Form S-8, such documents
will not be filed with the Securities and Exchange Commission.  These documents and the
documents incorporated by reference pursuant to Item 3 of Part II of this registration statement, taken
together, constitute a prospectus for each respective plan that meets the requirements of Section
10(a) of the Securities Act.  The documents incorporated by reference in Item 3 of Part II of this
registration statement, as well as the documents containing the information specified in Part I of this
registration statement, are available, upon written or oral request to United Bancshares, Inc., Attn:
Secretary, 100 South High Street, Columbus Grove, Ohio  45830, Telephone: (419) 659-2141.</P>

<P ALIGN="CENTER">PART II</P>

<P ALIGN="CENTER">INFORMATION REQUIRED IN THE REGISTRATION STATEMENT</P>

<P>Item 3.	Incorporation of Documents by Reference.</P>

<P>United Bancshares, Inc. hereby states that the documents listed in (a) through (c) below are
incorporated by reference in this Registration Statement, and further states that all documents
subsequently filed by the Registration pursuant to Section 13(a), 13(c), 14 and 15(d) of the Securities
Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates that all
securities offered have been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this Registration Statement and to be a part hereof from
the date of filing such documents.</P>

<P>(a) 	United Bancshares' Annual Report on Form 10-K 405 filed with the Securities and Exchange
Commission on March 30, 2001 for the year ended December 31, 2000.</P>

<P>(b)	All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of
1934 since December 31, 2000.</P>

<P>(c)	The description of United Bancshares' Common Stock contained in the Registration
Statement on Form 8-A filed with the Securities and Exchange Commission on February 1, 2000.</P>

<P>Item 4:	Description of Securities.</P>

<P>Not applicable.</P>

<P>Item 5.	Interests of Named Experts and Counsel.</P>

<P>Not Applicable.</P>

<P>Item 6.	Indemnification of Directors and Officers.</P>

<P>Ohio corporate law provides, with limited exceptions, that a director may be held liable in
damages for acts or omissions as a director only if it is proven by clear and convincing evidence that
the director undertook the act or omission with deliberate intent to cause injury to the corporation
or with reckless disregarding for its best interests.</P>

<P>The indemnification provisions of Ohio corporate law require indemnification of a director
who has been successful on the merits or otherwise in defense of any action that he or she was a
party to because he or she is or was a director of the corporation.  The indemnification authorized
by Ohio corporate law is not exclusive and is in addition to any other rights granted to directors.</P>

<P>The United Bancshares articles of incorporation provide for indemnification of present and
past directors, officers, employees and agents, and such other persons as the corporation has the
power to indemnify, to the full extent permitted by Ohio corporate law.  This indemnity covers all
expenses actually and necessarily incurred by that person in connection with judgments, decrees,
fines, penalties or amounts paid in settlement or in connection with the defense of any pending or
threatened criminal or civil action to which that person is or may be made a party by reason of being
or having been a director, officer, employee or agent.  This indemnity is conditioned on:</P>

<P>(1)	the person being adjudicated or determined not to have been negligent or guilty of
misconduct in the performance of his or her duty to the corporation;</P>

<P>(2)	the person being determined to have acted in good faith in what he or she reasonably
believed to be the best interest of the corporation; and</P>

<P>(3)	in any manner the subject of a criminal action, the person being determined to have
had no reasonable cause to believe that his or her conduct was unlawful.</P>

<P>Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers or personal controlling United Bancshares pursuant to the foregoing
provisions, United Bancshares had been informed that in the opinion of the Securities and Exchange
Commission, such indemnification is against public policy as expressed in the Act and is therefore
unenforceable.</P>

<P>Item 7.	Exemption From Registration Claimed.</P>

<P>Not applicable.</P>

<P>Item 8.	Exhibits</P>

<P>Exhibit No.						Description</P>

<P>4.1	United Bancshares, Inc. Incentive Stock Option and Non-Statutory
Stock Option Plan</P>

<P>4.2				United Bancshares, Inc. Stock Based Incentive Plan</P>

<P>5.1, 23.1			Opinion of Dinsmore &amp; Shohl, counsel, as to the legality of the
securities being registered</P>

<P>23.2				Consent of Clifton Gunderson LLC</P>

<P>24*				Power of Attorney</P>

<P><U>				</U></P>

<P>*  Included in signature page.</P>

<P>Item 9.	Undertakings</P>

<P>(A)	The undersigned registrant, hereby undertakes:</P>

<P>1.	To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement to include any material information with respect to the
plan of distribution not previously disclosed in the Registration Statement or any material change
to such information in the Registration Statement.</P>

<P>2.	That, for the purpose of determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.</P>

<P>3.	To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.</P>

<P>(B)	The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to section
13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of
an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange of
1934) that is incorporated by reference in the registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at
that time shall be deemed to be the to be the initial bona fide offering thereof.</P>

<P>(C)	Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other
than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Act and will be governed by the final adjudication
of such issue.</P>

<P>(D)	Pursuant to Item 8(b) of From S-8, in lieu of an Internal Revenue Service ("IRS")
determination letter that the United Bancshares, Inc. Employee Stock Ownership Plan is qualified
under Section 401 of the Internal Revenue Code, the undersigned registrant hereby undertakes that
it has submitted the plan and any amendments thereto, and will submit any future amendments
thereto, to the IRS in a timely manner and will make all changes required by the IRS to qualify the
plan.</P>

<P ALIGN="CENTER">SIGNATURES</P>

<P>Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all the requirements for filing on Form S-8, and has duly
caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Columbus Grove, State of Ohio, on October 8, 2001.</P>

<P>United Bancshares, Inc.</P>

<P>By:<U>/s/ E. Eugene Lehman</U></P>

<P>E. Eugene Lehman</P>

<P>President and Chief Executive Officer</P>

<P ALIGN="CENTER">POWER OF ATTORNEY</P>

<P>KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints E. Eugene Lehman, President and Chief Executive Officer, his true
and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and
in his name, place and stead, in any and all capacities, to sign and execute on behalf of the
undersigned any and all amendments to this Registration Statement, and to file the same, with all
exhibits thereto, and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorney-in-fact and agent full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection with any such
amendments, as fully to all intents and purposes as he might or could do in person and agent, or his
substitute or substitutes, may lawfully do or cause to be done by virtue hereof.</P>

<P>Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated.</P>

<P>Principal Executive Officer:				Date:</P>

<P><U>/s/ E. Eugene Lehman</U>				<U>10/08/01</U></P>

<P>E. Eugene Lehman</P>

<P>President and Chief Executive Officer</P>

<P>Principal Financial and Accounting Officer:		Date:</P>

<P><U>/s/ James A. Downhower</U>				<U>10/08/01</U></P>

<P>Jim Downhower</P>

<BR WP="BR1"><BR WP="BR2">
<P>Directors of the Company:				Date:</P>

<P><U>/s/ Robert L. Dilhoff</U>					<U>10/08/01</U></P>

<P>Robert L. Dillhoff</P>

<P><U>/s/ Joe S. Edwards, Jr.</U>				<U>10/08/01</U></P>

<P>Joe S. Edwards, Jr.</P>

<P><U>/s/ Thomas J. Erhart</U>					<U>10/08/01</U></P>

<P>Thomas J. Erhart	</P>

<P><U>/s/ P. Douglas Harter</U>					<U>10/08/01</U></P>

<P>P. Douglas Harter</P>

<P><U>/s/ E. Eugene Lehma</U>n				<U>10/08/01</U></P>

<P>E. Eugene Lehman</P>

<P><U>/s/ Carl L. McCrate</U>					10/08/01</P>

<P>Carl L. McCrate</P>

<P><U>/s/ John P. Miller</U>					<U>10/08/01</U></P>

<P>John P. Miller</P>

<P><U>/s/ William R. Perry</U>					<U>10/08/01</U></P>

<P>William R. Perry</P>

<P><U>/s/ James N. Reynolds</U>				<U>10/08/01</U></P>

<P>James B. Reynolds</P>

<P><U>/s/ H. Edward Rigel</U>					<U>10/08/01</U></P>

<P>H. Edward Rigel</P>

<P><U>/s/ David P. Roach</U>					<U>10/08/01</U></P>

<P>David P. Roach</P>

<P><U>/s/ Daniel W. Schutt</U>					<U>10/08/01</U></P>

<P>Daniel W. Schutt</P>

<BR WP="BR1"><BR WP="BR2">
<P ALIGN="CENTER">INDEX TO EXHIBITS</P>

<P>Exhibit No.						Description</P>

<P>4.1	United Bancshares, Inc. Incentive Stock Option and Non-Statutory
Stock Option Plan</P>

<P>4.2				United Bancshares, Inc. Stock Based Incentive Plan</P>

<P>5.1, 23.1			Opinion of Dinsmore &amp; Shohl, counsel, as to the legality of the
securities being registered</P>

<P>23.2				Consent of Clifton Gunderson LLC</P>

<P>24*				Power of Attorney</P>

<BR WP="BR1"><BR WP="BR2">
<P><U>				</U></P>

<P>*  Included in signature page.</P>

<BR WP="BR1"><BR WP="BR2">
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{"company-data": {"conformed-name": "UNITED BANCSHARES INC/OH", "cik": "0001087456", "assigned-sic": "6021", "irs-number": "341516518", "state-of-incorporation": "OH", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "S-8", "act": "33", "file-number": "333-71822", "film-number": "1761624"}, "business-address": {"street1": "100 SOUTH HIGH ST", "city": "COLUMBUS GROVE", "state": "OH", "zip": "45830", "phone": "4196592141"}}
Registration No.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C.  20549
FORM S-8
REGISTRATION STATEMENT
UNDER
THE SECURITIES ACT OF 1933
United Bancshares, Inc.
(Exact name of Registrant as specified in its Charter)
Ohio
34-1516518
(State of Incorporation)		(I.R.S. Employer Identification No.)
100 South High Street, Columbus Grove, Ohio  45830
(Address of Principal Executive Offices)               (Zip Code)
United Bancshares, Inc. Incentive Stock Option and Non-Statutory Stock Option Plan
United Bancshares, Inc. Stock Based Incentive Plan
(Full Titles of the Plans)
E. Eugene Lehman, President
United Bancshares, Inc.
100 South High Street
Columbus Grove, Ohio  45830
(419) 659-2141
(Name, address, including zip code, and telephone number,
including area code, of agent of service)
Copy To:
Susan B. Zaunbrecher, Esq.
Dinsmore & Shohl
1900 Chemed Center
255 East Fifth Street
Cincinnati, Ohio  45202
513) 977-8200
CALCULATION OF REGISTRATION FEE
Title of
Securities To Be
Registered
Amount To Be
Registered
Proposed
Maximum
Offering Price
Per Share
Proposed
Maximum
Offering Price*
Amount of
Registration Fee
Common Stock,
no par value
264,838
$8.925
$2,363,679.15
$590.92
[* Pursuant to Rule 457(c) of Registration C, the registration filing fee and the aggregate offering
price shall be computed with respect to the maximum number of the Registrant's securities issuable
under the plans covered by this Registration Statement based on the average of the high and low
prices of Registrant's Common Stock reported on the Nasdaq National Market on October 15, 2001,
a date within 5 business days prior to the date of filing of this Registration Statement.]
PART I
INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS
The documents containing the information specified in Part I for the United Bancshares, Inc.
Incentive Stock Option and Non-Statutory Stock Option Plan and the United Bancshares, Inc. Stock
Based Incentive Plan will be sent or given to employees as specified by Rule 428(b)(1) of the
Securities Act of 1933.  In accordance with the instructions to Part I of Form S-8, such documents
will not be filed with the Securities and Exchange Commission.  These documents and the
documents incorporated by reference pursuant to Item 3 of Part II of this registration statement, taken
together, constitute a prospectus for each respective plan that meets the requirements of Section
10(a) of the Securities Act.  The documents incorporated by reference in Item 3 of Part II of this
registration statement, as well as the documents containing the information specified in Part I of this
registration statement, are available, upon written or oral request to United Bancshares, Inc., Attn:
Secretary, 100 South High Street, Columbus Grove, Ohio  45830, Telephone: (419) 659-2141.
PART II
INFORMATION REQUIRED IN THE REGISTRATION STATEMENT
Item 3.	Incorporation of Documents by Reference.
United Bancshares, Inc. hereby states that the documents listed in (a) through (c) below are
incorporated by reference in this Registration Statement, and further states that all documents
subsequently filed by the Registration pursuant to Section 13(a), 13(c), 14 and 15(d) of the Securities
Exchange Act of 1934, prior to the filing of a post-effective amendment which indicates that all
securities offered have been sold or which deregisters all securities then remaining unsold, shall be
deemed to be incorporated by reference in this Registration Statement and to be a part hereof from
the date of filing such documents.
(a) 	United Bancshares' Annual Report on Form 10-K 405 filed with the Securities and Exchange
Commission on March 30, 2001 for the year ended December 31, 2000.
(b)	All other reports filed pursuant to Section 13(a) or 15(d) of the Securities Exchange Act of
1934 since December 31, 2000.
(c)	The description of United Bancshares' Common Stock contained in the Registration
Statement on Form 8-A filed with the Securities and Exchange Commission on February 1, 2000.
Item 4:	Description of Securities.
Not applicable.
Item 5.	Interests of Named Experts and Counsel.
Not Applicable.
Item 6.	Indemnification of Directors and Officers.
Ohio corporate law provides, with limited exceptions, that a director may be held liable in
damages for acts or omissions as a director only if it is proven by clear and convincing evidence that
the director undertook the act or omission with deliberate intent to cause injury to the corporation
or with reckless disregarding for its best interests.
The indemnification provisions of Ohio corporate law require indemnification of a director
who has been successful on the merits or otherwise in defense of any action that he or she was a
party to because he or she is or was a director of the corporation.  The indemnification authorized
by Ohio corporate law is not exclusive and is in addition to any other rights granted to directors.
The United Bancshares articles of incorporation provide for indemnification of present and
past directors, officers, employees and agents, and such other persons as the corporation has the
power to indemnify, to the full extent permitted by Ohio corporate law.  This indemnity covers all
expenses actually and necessarily incurred by that person in connection with judgments, decrees,
fines, penalties or amounts paid in settlement or in connection with the defense of any pending or
threatened criminal or civil action to which that person is or may be made a party by reason of being
or having been a director, officer, employee or agent.  This indemnity is conditioned on:
(1)	the person being adjudicated or determined not to have been negligent or guilty of
misconduct in the performance of his or her duty to the corporation;
(2)	the person being determined to have acted in good faith in what he or she reasonably
believed to be the best interest of the corporation; and
(3)	in any manner the subject of a criminal action, the person being determined to have
had no reasonable cause to believe that his or her conduct was unlawful.
Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers or personal controlling United Bancshares pursuant to the foregoing
provisions, United Bancshares had been informed that in the opinion of the Securities and Exchange
Commission, such indemnification is against public policy as expressed in the Act and is therefore
unenforceable.
Item 7.	Exemption From Registration Claimed.
Not applicable.
Item 8.	Exhibits
Exhibit No.						Description
4.1	United Bancshares, Inc. Incentive Stock Option and Non-Statutory
Stock Option Plan
4.2				United Bancshares, Inc. Stock Based Incentive Plan
5.1, 23.1			Opinion of Dinsmore & Shohl, counsel, as to the legality of the
securities being registered
23.2				Consent of Clifton Gunderson LLC
24*				Power of Attorney
*  Included in signature page.
Item 9.	Undertakings
(A)	The undersigned registrant, hereby undertakes:
1.	To file, during any period in which offers or sales are being made, a post-effective
amendment to this Registration Statement to include any material information with respect to the
plan of distribution not previously disclosed in the Registration Statement or any material change
to such information in the Registration Statement.
2.	That, for the purpose of determining any liability under the Securities Act of 1933, each such
post-effective amendment shall be deemed to be a new registration statement relating to the
securities offered therein, and the offering of such securities at that time shall be deemed to be the
initial bona fide offering thereof.
3.	To remove from registration by means of a post-effective amendment any of the securities
being registered which remain unsold at the termination of the offering.
(B)	The undersigned Registrant hereby undertakes that, for purposes of determining any liability
under the Securities Act of 1933, each filing of the Registrant's annual report pursuant to section
13(a) or section 15(d) of the Securities Exchange Act of 1934 (and, where applicable, each filing of
an employee benefit plan's annual report pursuant to Section 15(d) of the Securities Exchange of
1934) that is incorporated by reference in the registration statement shall be deemed to be a new
registration statement relating to the securities offered therein, and the offering of such securities at
that time shall be deemed to be the to be the initial bona fide offering thereof.
(C)	Insofar as indemnification for liabilities arising under the Securities Act of 1933 may be
permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing
provisions, or otherwise, the Registrant has been advised that in the opinion of the Securities and
Exchange Commission such indemnification is against public policy as expressed in the Act and is,
therefore, unenforceable.  In the event that a claim for indemnification against such liabilities (other
than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling
person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by
such director, officer or controlling person in connection with the securities being registered, the
Registrant will, unless in the opinion of its counsel the matter has been settled by controlling
precedent, submit to a court of appropriate jurisdiction the question whether such indemnification
by it is against public policy as expressed in the Act and will be governed by the final adjudication
of such issue.
(D)	Pursuant to Item 8(b) of From S-8, in lieu of an Internal Revenue Service ("IRS")
determination letter that the United Bancshares, Inc. Employee Stock Ownership Plan is qualified
under Section 401 of the Internal Revenue Code, the undersigned registrant hereby undertakes that
it has submitted the plan and any amendments thereto, and will submit any future amendments
thereto, to the IRS in a timely manner and will make all changes required by the IRS to qualify the
plan.
SIGNATURES
Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has
reasonable grounds to believe that it meets all the requirements for filing on Form S-8, and has duly
caused this Registration Statement to be signed on its behalf by the undersigned, thereunto duly
authorized in the City of Columbus Grove, State of Ohio, on October 8, 2001.
United Bancshares, Inc.
By:
/s/ E. Eugene Lehman
E. Eugene Lehman
President and Chief Executive Officer
POWER OF ATTORNEY
KNOW ALL MEN BY THESE PRESENTS, that each person whose signature appears
below constitutes and appoints E. Eugene Lehman, President and Chief Executive Officer, his true
and lawful attorney-in-fact and agent, with full power of substitution and resubstitution, for him and
in his name, place and stead, in any and all capacities, to sign and execute on behalf of the
undersigned any and all amendments to this Registration Statement, and to file the same, with all
exhibits thereto, and other documents in connection therewith, with the Securities and Exchange
Commission, granting unto said attorney-in-fact and agent full power and authority to do and
perform each and every act and thing requisite and necessary to be done in connection with any such
amendments, as fully to all intents and purposes as he might or could do in person and agent, or his
substitute or substitutes, may lawfully do or cause to be done by virtue hereof.
Pursuant to the requirements of the Securities Act of 1933, this Registration Statement has
been signed by the following persons in the capacities and on the dates indicated.
Principal Executive Officer:				Date:
/s/ E. Eugene Lehman
10/08/01
E. Eugene Lehman
President and Chief Executive Officer
Principal Financial and Accounting Officer:		Date:
/s/ James A. Downhower
10/08/01
Jim Downhower
Directors of the Company:				Date:
/s/ Robert L. Dilhoff
10/08/01
Robert L. Dillhoff
/s/ Joe S. Edwards, Jr.
10/08/01
Joe S. Edwards, Jr.
/s/ Thomas J. Erhart
10/08/01
Thomas J. Erhart
/s/ P. Douglas Harter
10/08/01
P. Douglas Harter
/s/ E. Eugene Lehma
n
10/08/01
E. Eugene Lehman
/s/ Carl L. McCrate
10/08/01
Carl L. McCrate
/s/ John P. Miller
10/08/01
John P. Miller
/s/ William R. Perry
10/08/01
William R. Perry
/s/ James N. Reynolds
10/08/01
James B. Reynolds
/s/ H. Edward Rigel
10/08/01
H. Edward Rigel
/s/ David P. Roach
10/08/01
David P. Roach
/s/ Daniel W. Schutt
10/08/01
Daniel W. Schutt
INDEX TO EXHIBITS
Exhibit No.						Description
4.1	United Bancshares, Inc. Incentive Stock Option and Non-Statutory
Stock Option Plan
4.2				United Bancshares, Inc. Stock Based Incentive Plan
5.1, 23.1			Opinion of Dinsmore & Shohl, counsel, as to the legality of the
securities being registered
23.2				Consent of Clifton Gunderson LLC
24*				Power of Attorney
*  Included in signature page.