Union Bankshares, Inc. filings document the public reporting of a Vermont bank holding company and its wholly owned subsidiary, Union Bank. Form 8-K filings furnish quarterly shareholder reports, earnings releases, net income and per-share results, regular cash dividend declarations, corrected press-release materials, and other material events tied to the company's financial condition.
Proxy and governance filings cover director elections, board structure, executive compensation, shareholder voting matters, and pay-versus-performance disclosures. Other current reports describe leadership succession arrangements, employment agreements, board appointments, and subsidiary governance, alongside the company's recurring disclosures on capital structure, dividend policy, operating results, and banking-business risks.
Union Bankshares, Inc. reported solid quarterly results with rising interest income and modest profit growth. Net income for the three months ended June 30, 2025 was $2.395 million, up from $2.019 million a year earlier, and for the six months was $4.896 million versus $4.436 million a year earlier. Basic EPS was $0.53 for the quarter and $1.08 for six months.
Total assets were $1.48 billion and total deposits were $1.103 billion at June 30, 2025. Gross loans were $1.103 billion with net loans of $1.097 billion after an allowance for credit losses of $8.307 million (0.75% of loans). Net interest income increased to $10.446 million for the quarter and $20.716 million for six months as loan volumes and yields rose. Noninterest expenses increased, driven by higher salaries and benefits. Nonperforming assets rose to 1.03% of assets, and accumulated other comprehensive loss on available-for-sale securities was $31.231 million. The company has an at-the-market equity program with approximately $39.7 million available and declared a $0.36 quarterly dividend on July 16, 2025.
Union Bankshares announced that Director Joel S. Bourassa, age 67, will retire from the company's board and from Union Bank's board effective August 20, 2025. The company stated his retirement is not due to any disagreement with the company's operations, policies, or practices. Mr. Bourassa joined the holding company board in 2019 and has served on Union Bank's board since 2018. The filing notes his tourism industry experience and community service gave the board useful insight into the Grafton County market.
The board's Director Succession Subcommittee of the Nominating and Governance Committee, formed May 21, 2025, will conduct a search to fill the vacancy. Mr. Bourassa served on the company's Compensation Committee.
Union Bankshares, Inc. (UNB) filed an 8-K on 7 Aug 2025 to furnish its unaudited Second-Quarter 2025 Report to Shareholders. Under Item 2.02, the company states that the report, attached as Exhibit 99.1, contains operating results and financial condition for the three- and six-month periods ended 30 Jun 2025. The filing also discloses the board’s declaration of a regular quarterly cash dividend, although the per-share amount and payment dates are not included in the 8-K text.
The information is being furnished, not filed, meaning it is not subject to liability under Section 18 and will not be incorporated by reference unless specifically cited in future filings. No other material events, guidance revisions, or transaction details are presented. Management signatures from CEO David S. Silverman and CFO Karyn J. Hale confirm the disclosure.