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 stronger results for the quarter ended March 31, 2026. Net income rose to $3.0 million from $2.5 million a year earlier, and diluted EPS increased to $0.65 from $0.55, helped by higher net interest income.
Total assets were $1.63 billion, with gross loans of $1.18 billion and deposits of $1.20 billion. The fully tax-equivalent net interest margin improved to 2.99% from 2.88%, as asset yields outpaced funding costs. Asset quality remained solid, with nonperforming assets at 0.82% of total assets and the allowance for credit losses on loans at 0.69% of loans.
Total comprehensive income was lower than net income because of $1.9 million in after-tax unrealized losses on available-for-sale securities recorded in other comprehensive income, reflecting interest rate–driven valuation changes rather than realized losses.
UNION BANKSHARES INC President files initial ownership report showing no common stock holdings. President Jeffrey F. Weidley submitted a Form 3 reporting his position in Union Bankshares Inc. The filing lists Common Stock with total shares following the reported entry of 0.0000, indicating no common shares are reported as beneficially owned.
Union Bankshares, Inc. reported stronger results for the first quarter of 2026. Net income was $3.0 million, or $0.65 per share, up from $2.5 million, or $0.55 per share, a year earlier, helped by higher net interest income and solid credit quality.
Total assets reached $1.63 billion, up 6.6% from March 31, 2025, with investment securities at $315.6 million and loans at $1.18 billion. Net interest income rose to $11.3 million, while noninterest income was $2.5 million, including $350 thousand of gains on mortgage sales.
Noninterest expenses increased to $10.8 million as the company invested in people, technology, and operations. Deposits totaled $1.20 billion, and stockholders’ equity increased, with book value per share rising 13.1% to $17.46. The Board declared a quarterly dividend of $0.36 per share, payable May 7, 2026 to shareholders of record on April 27, 2026.
Union Bankshares, Inc. reported higher results for the three months ended March 31, 2026 and declared a regular quarterly cash dividend.
Net income rose to $3.0 million, or $0.65 per share, from $2.5 million, or $0.55 per share, a year earlier, helped by a $1.0 million increase in net interest income, slightly higher noninterest income, and a swing to a $325 thousand credit loss benefit. These gains were partly offset by higher operating costs and income taxes.
Total assets grew to $1.63 billion from $1.52 billion, driven by larger securities and overnight balances. Loans were $1.18 billion and deposits were $1.20 billion, including brokered deposits. Stockholders’ equity increased to $80.6 million, lifting book value per share to $17.46.
The Board declared a $0.36 per share cash dividend for the quarter. The company also corrected a prior disclosure, stating that total deposits as of March 31, 2025 were $1.18 billion, not $1.81 billion.
Union Bankshares, Inc. reported stronger results for the three months ended March 31, 2026 and declared a regular cash dividend. Net income rose to $3.0 million, or $0.65 per share, up from $2.5 million, or $0.55 per share, a year earlier, helped by higher net interest income, slightly higher noninterest income and a credit loss benefit.
Total assets reached $1.63 billion as of March 31, 2026, compared with $1.52 billion a year earlier, driven by higher Federal funds sold and a larger securities portfolio. Loans grew modestly to $1.18 billion, while the allowance for credit losses on loans was $8.07 million, with management emphasizing continued strong asset quality.
Stockholders’ equity increased to $80.6 million, lifting book value per share by 13.1% to $17.46, supported in part by a smaller accumulated other comprehensive loss on investment securities. The Board declared a quarterly cash dividend of $0.36 per share, payable May 7, 2026 to shareholders of record on April 27, 2026.
Union Bankshares, Inc. is asking shareholders to elect ten directors and ratify BDMP Assurance, LLP as external auditors for 2026 at its May 20, 2026 annual meeting. Shareholders of record on March 27, 2026, when 4,614,050 common shares were outstanding, may vote by phone, internet, mail, or in person.
The proxy outlines director biographies, committee structures, independence determinations, related‑party lending practices, and governance policies. It also details 2025 director fees, executive roles, and compensation, including salaries, cash incentives tied to Union Bank performance, and equity awards in restricted stock units.
Union Bankshares, Inc. announced a planned leadership transition at the board level tied to its existing age-limit bylaw. Board Chair Neil J. Van Dyke, age 72, will not stand for re-election at the 2026 annual meeting under Section 3.2 of the bylaws.
Following his retirement, current President and Chief Executive Officer David Silverman, who is already scheduled to retire from executive management in July, is expected to become Board Chair. Because Mr. Silverman will not qualify as an independent director under Nasdaq rules, Vice Chair Timothy Sargent has been designated to serve as Lead Independent Director once the changes are formally approved at the Board’s annual organizational meeting.
Union Bankshares, Inc., parent of Union Bank, reports on a community banking franchise focused on northern Vermont and New Hampshire, offering full retail, commercial, municipal, and wealth management services through 18 branches and three loan centers. The business is heavily driven by net interest income from loans and investments funded primarily by core deposits.
For the year ended December 31, 2025, average loans were 98.4% of average deposits, underscoring a loan‑centric balance sheet. The company highlights key risk areas—credit concentration in its two‑state footprint, interest rate and liquidity risk, securities valuation swings, and extensive regulatory and consumer‑protection oversight—while noting that Union Bank remains well capitalized, with Tier 1 and total risk‑based capital ratios of 11.87% and 12.81% at year‑end 2025.
Union Bankshares Inc officer Stephen H. Kendall reported new holdings in the company’s common stock. On March 11, 2026, he received 2,301 shares as a grant of restricted stock units that will be settled in shares if future vesting conditions are met, bringing his direct ownership to 11,495.5266 shares.
The filing also notes that on February 5, 2026, he acquired 105.7805 shares through the company’s Dividend Reinvestment Plan, which automatically reinvests cash dividends into additional shares. Both transactions appear to be routine compensation and dividend reinvestment activity rather than open-market trading.
Locklin Carrie R reported acquisition or exercise transactions in this Form 4 filing.
UNION BANKSHARES INC reported that Carrie R. Locklin, an officer of Union Bank, received a grant of 920 shares of common stock on March 11, 2026. The award was recorded at a price of $0.0000 per share as a compensation grant, not a market purchase.
After this grant, Locklin’s direct holdings increased to 3,273.3695 shares of common stock. According to the footnote, the award represents restricted stock units that will be settled in shares of common stock, subject to vesting conditions being satisfied in future periods.