Welcome to our dedicated page for Union Bnkshrs news (Ticker: UNB), a resource for investors and traders seeking the latest updates and insights on Union Bnkshrs stock.
Union Bankshares, Inc. (NASDAQ: UNB) is a Morrisville, Vermont-based bank holding company for Union Bank, a community-focused institution serving northern Vermont and New Hampshire. The UNB news page on Stock Titan aggregates company-issued press releases and other coverage so readers can follow how this commercial bank reports its performance and strategic actions over time.
Recent news for Union Bankshares centers on quarterly and annual earnings announcements, regular cash dividend declarations, and detailed balance sheet and income statement discussions. The company routinely reports on loan growth, deposit trends, asset quality, credit loss expense, and the performance of its available-for-sale investment securities portfolio. Earnings releases also highlight sales of qualifying residential loans to the secondary market and the resulting gains, underscoring the importance of mortgage banking to noninterest income.
Investors and observers can use the UNB news feed to monitor developments such as balance sheet repositioning transactions, use of wholesale funding, and changes in net interest income driven by interest rate movements and funding costs. The company also uses news and Form 8-K filings to communicate governance and policy items, including updates to its insider trading policy, changes in independent auditors, and board-level appointments or retirements at the holding company and bank subsidiary.
For anyone tracking a regional community bank with an emphasis on commercial, retail, and municipal banking and wealth management services, the Union Bankshares news page provides a centralized view of official communications. Bookmark this page to review historical announcements and follow new UNB press releases and related coverage as they are added.
Summary not available.
Summary not available.
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.
Union Bank has upgraded to Baker Hill NextGen®, enhancing its commercial lending processes across Vermont and New Hampshire. This transition to a unified platform aims to improve efficiency in loan origination, credit approval, and portfolio monitoring. The bank anticipates a better experience for both borrowers and staff through optimized decision-making and communication. Founded in 1891, Union Bank has a strong commitment to community service and has been recognized for its compliance with the Community Reinvestment Act. The partnership with Baker Hill is expected to further support Union Bank's customer service goals.
Union Bankshares, Inc. (NASDAQ - UNB) reported its financial results for the fourth quarter and the year ended December 31, 2022, with net income of $3.4 million for Q4 and $12.6 million for the year, translating to earnings per share of $0.77 and $2.81, respectively. The board declared a 2.9% increase in cash dividends to $0.36 per share. Key highlights include a 12% increase in net interest income to $10.4 million for Q4, driven by higher interest rates and a larger earning asset base. However, noninterest income declined significantly, primarily due to lower residential loan sales. Total assets grew by 10.9% to $1.3 billion, with significant loan and deposit increases.
Union Bankshares, Inc. (NASDAQ - UNB) reported a consolidated net income of $3.8 million for Q3 2022, a 4.3% decrease from Q3 2021. Earnings per share dropped to $0.84, down from $0.87. For the nine months ending September 30, 2022, net income was $9.2 million, or $2.04 per share, compared to $9.8 million, or $2.18 per share in 2021. Key factors included a $1.7 million decrease in noninterest income, offset by a $1.3 million rise in net interest income. Total assets grew to $1.3 billion, driven by increased customer deposits, while total loans outstanding rose 19.3% to $942.5 million.
Union Bankshares, Inc. (NASDAQ - UNB) reported a decrease in net income for Q2 2022, totaling $2.9 million, or $0.65 per share, compared to $3.0 million in Q2 2021. For the first half of 2022, net income was $5.4 million, down from $5.9 million year-over-year. Key factors include a decline in noninterest income by $974,000 and a rise in expenses. However, net interest income increased by 8.4% to $9.7 million due to a larger asset base. The company declared a dividend of $0.35 per share payable August 4, 2022.
Union Bankshares, Inc. (NASDAQ: UNB) reported a net income of $2.5 million ($0.55 per share) for Q1 2022, down 13.7% from $2.9 million ($0.64 per share) in Q1 2021. Interest income rose to $9.7 million, a 2.4% increase, while interest expense decreased 30.7% to $763 thousand. Noninterest income fell to $2.1 million, down 21.6%, primarily due to reduced gains on residential loan sales. Total assets increased to $1.2 billion, driven by a 12.5% rise in customer deposits. A regular cash dividend of $0.35 per share was declared, payable on May 5, 2022.
Union Bankshares, Inc. (NASDAQ - UNB) reported net income of $3.4 million for Q4 2021, down 11% year-over-year, leading to earnings per share of $0.76. For the full year, net income reached $13.2 million, or $2.94 per share, reflecting a growth in interest income by 6.9% to $39.3 million. The Board declared a cash dividend of $0.35, a 6.1% increase from prior quarters. Noninterest income fell 19% to $13.0 million, reflecting decreased gains on loan sales. Total assets grew 10.3% to $1.2 billion, fueled by a $100.8 million rise in deposits.
Union Bankshares, Inc. (NASDAQ - UNB) reported Q3 2021 net income of $3.9 million ($0.87/share), down from $4.1 million ($0.92/share) in Q3 2020. Year-to-date results show an increase in net income to $9.8 million ($2.18/share) from $9.0 million ($2.01/share) in 2020. Total assets grew to $1.16 billion, while total loans decreased to $790 million due to residential loan sales and PPP forgiveness. Noninterest income dropped 23.6% YoY, primarily from reduced residential loan sales. A quarterly cash dividend of $0.33/share was declared, payable November 4, 2021.
FAQ
What is the current stock price of Union Bnkshrs (UNB)?
What is the market cap of Union Bnkshrs (UNB)?
