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.
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.
Union Bankshares, Inc. (NASDAQ - UNB) has successfully completed a private placement of $16.5 million in fixed-to-floating rate subordinated notes due 2031. The notes will carry an initial interest rate of 3.25%, resetting to the Three-Month Term SOFR plus 263 basis points from September 2026. Proceeds will bolster the capital support for its subsidiary, Union Bank, enhancing growth and general corporate purposes. CEO David Silverman expressed satisfaction with the favorable pricing of the issuance, executed with the assistance of PNC FIG Advisory.
Union Bankshares, Inc. (NASDAQ - UNB) reported a consolidated net income of $3.0 million, or $0.67 per share, for Q2 2021, marking a 12.1% increase from $2.7 million in Q2 2020. For the six months ended June 30, 2021, net income reached $5.9 million, or $1.31 per share, up from $4.9 million, or $1.09 per share, in the same period in 2020. Net interest income rose to $8.9 million, a 14.7% increase due to a larger earning asset base despite low interest rates. Additionally, the bank originated $31.8 million in PPP loans in 2021, totaling $102.1 million since inception.
Union Bankshares, Inc. (NASDAQ - UNB) reported a consolidated net income of $2.9 million ($0.64 per share) for Q1 2021, marking a 30.9% increase from $2.2 million ($0.49 per share) in Q1 2020. Major factors include a $893 thousand increase in net interest income driven by higher interest earning assets, despite lower yields. Total assets rose 25.1% to $1.1 billion, largely due to PPP participation and increased deposits. The bank declared a cash dividend of $0.33 per share payable on May 6, 2021.
Union Bankshares, Inc. (NASDAQ: UNB) reported a net income of $3.8 million for Q4 2020, an increase of 37.5% year-over-year, resulting in an earnings per share (EPS) of $0.85. For the full year, net income reached $12.8 million with an EPS of $2.86, up from $10.6 million in 2019. A cash dividend of $0.33 per share was declared, marking a 3.1% increase. Total assets climbed 25.3% to $1.1 billion, driven by strong loan origination and customer deposits amid the pandemic.
Union Bankshares, Inc. (NASDAQ - UNB) reported consolidated net income of $4.1 million for Q3 2020, up 51.5% from $2.7 million in Q3 2019, equating to $0.92 per share. Year-to-date, net income reached $9.0 million compared to $7.9 million in the previous year. Key highlights include increased net interest income and noninterest income, alongside a rise in provision for loan losses due to COVID-19 impacts. Total assets rose to $1.009 billion, with total loans at $798.3 million, driven by Paycheck Protection Program loans. A quarterly cash dividend of $0.32 per share was declared.
Union Bankshares, Inc. (NASDAQ: UNB) reported a consolidated net income of $2.7 million, or $0.60 per share, for Q2 2020, a 5.4% increase from $2.5 million in Q2 2019. Year-to-date earnings were $4.9 million, or $1.09 per share, down from $5.2 million, or $1.15 per share, in 2019. The bank originated $68.5 million in PPP loans, contributing $368 thousand in interest income. Total assets grew to $917.1 million, with total deposits rising 10.1%. A cash dividend of $0.32 per share was declared, payable on August 6, 2020.