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 (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 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.
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.
