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Union Bankshares Inc (UNB) delivers community-focused banking services across northern Vermont and New Hampshire, combining personalized financial solutions with modern digital capabilities. This news hub provides investors and stakeholders with essential updates about the company’s operations, strategic initiatives, and market position.
Access verified information on earnings announcements, leadership updates, and community partnership programs that reflect UNB’s commitment to regional economic growth. Our curated collection includes press releases detailing commercial lending expansions, asset management developments, and innovations in customer banking experiences.
Key updates cover UNB’s core banking segments: retail services for individual clients, commercial lending for local businesses, and trust management solutions for long-term financial planning. Stay informed about regulatory filings, dividend declarations, and initiatives reinforcing the bank’s role as a pillar of northern New England’s financial landscape.
Bookmark this page for streamlined access to UNB’s latest developments. Check regularly for authoritative updates that matter to investors, banking clients, and community stakeholders alike.
Union Bankshares (NASDAQ: UNB) reported strong Q1 2025 financial results with consolidated net income of $2.5 million ($0.55 per share), up from $2.4 million ($0.53 per share) in Q1 2024. Total assets grew 7.6% to $1.52 billion, driven by robust loan growth of 12.3% reaching $1.16 billion.
Key highlights include strong asset quality with minimal past due loans, increased interest income of 17.1% to $18.3 million, and net interest income growth of 14%. Total deposits stood at $1.18 billion, while the company maintained a book value per share of $15.44. The Board declared a quarterly cash dividend of $0.36 per share, payable May 1, 2025.
Union Bankshares (UNB) reported Q4 2024 consolidated net income of $3.00 million ($0.67 per share), slightly down from $3.05 million ($0.68 per share) in Q4 2023. Full-year 2024 net income was $8.8 million ($1.94 per share), compared to $11.3 million ($2.50 per share) in 2023.
Total assets reached $1.53 billion, up 4.0% from 2023. Loan portfolio grew by 12.6% to $1.16 billion, while deposits were $1.17 billion. The company's strategic balance sheet repositioning included selling $38.8 million in lower-yielding securities, resulting in a $1.3 million pre-tax loss. Book value per share increased to $14.65.
The Board declared a quarterly cash dividend of $0.36 per share, payable February 6, 2025.
Union Bankshares, Inc. (NASDAQ: UNB) reported its financial results for Q3 2024 and declared a quarterly dividend. Key highlights include:
- Consolidated net income of $1.3 million ($0.29 per share) for Q3 2024, down from $2.5 million ($0.56 per share) in Q3 2023
- Total assets increased 8.9% to $1.52 billion
- Total loans grew to $1.13 billion, including $8.4 million in loans held for sale
- Total deposits were $1.17 billion, including $80.0 million of purchased brokered deposits
- Book value per share increased to $15.98
- Quarterly cash dividend of $0.36 per share declared
The decrease in earnings was primarily due to a strategic balance sheet repositioning, resulting in a $1.3 million pre-tax realized loss from the sale of $38.8 million in lower-yielding available-for-sale debt securities.
Union Bankshares, Inc. (NASDAQ: UNB) has completed a strategic balance sheet repositioning involving its investment securities portfolio. The company's subsidiary, Union Bank, sold $38.8 million in book value of lower-yielding available-for-sale debt securities, resulting in an estimated after-tax realized loss of $1.0 million for Q3 2024. The proceeds were reinvested in higher-yielding bonds and loans, expected to yield 341 basis points more than the sold securities. This move is projected to be earnings accretive, improve net interest margin and return on assets, and enhance balance sheet management flexibility. The loss is estimated to be recouped within a year and has a neutral impact on stockholders' equity and book value per share.
Union Bankshares (NASDAQ: UNB) reported Q2 2024 earnings with consolidated net income of $2.0 million, or $0.45 per share, down from $2.7 million, or $0.60 per share, in Q2 2023. For the six months ended June 30, 2024, net income was $4.4 million, or $0.98 per share, compared to $5.7 million, or $1.26 per share, in the same period of 2023.
Key highlights:
- Total assets increased 4.8% to $1.40 billion
- Total loans grew to $1.01 billion, including $6.2 million in loans held for sale
- Deposits were $1.05 billion, including $65.0 million in brokered deposits
- Book value per share improved to $14.16
- The Board declared a quarterly cash dividend of $0.36 per share
Union Bankshares, Inc. (NASDAQ - UNB) reported consolidated net income of $3.0 million or $0.66 per share for Q1 2023, marking a 20% increase from $2.5 million or $0.55 per share in Q1 2022. Interest income rose to $13.0 million, a 34.1% increase from $9.7 million, driven by higher volumes and yields. However, interest expense surged to $3.1 million, up 302.5% from $763 thousand, mainly due to increased rates on deposits. Total assets grew to $1.4 billion, a 10.4% increase year-over-year, primarily due to loan growth. The company declared a cash dividend of $0.36 per share payable May 4, 2023. Although total equity capital declined to $60.6 million, the book value per share is at $13.44.
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