Union Bankshares IncUNB
What Union Bankshares Inc does.
Certain Definitions: Capitalized terms used in the following discussion and not otherwise defined below have the meanings assigned to them in Note 1 to the Company's audited consolidated financial statements contained in Part II, item 8, page 55 of this Annual Report.
General: Union Bankshares, Inc. (“Company”) is a one-bank holding company whose sole subsidiary is Union Bank (“Union”). It was incorporated in the State of Vermont in 1982 to serve as a holding company for Union Bank. The Company's common stock is traded on the Nasdaq Global Market under the symbol "UNB". Union Bank was organized and chartered as a state bank in 1891 and became a wholly owned subsidiary of the Company upon completion of the holding company reorganization in 1982. Both Union Bankshares, Inc. and Union Bank are headquartered in Morrisville, Vermont.
The Company's business is that of a community bank in the financial services industry. The Company has one definable business segment, Union Bank, which provides full retail, commercial, municipal banking, and wealth management and trust services throughout its 18 branch banking locations, three loan centers, and several ATMs covering northern Vermont and northern New Hampshire. Also, many of Union's services are provided via the telephone, mobile devices, and through its website, www.ublocal.com . Union seeks to make a profit for the Company while providing quality retail banking services to individuals and commercial banking services to small and medium sized business corporations, limited liability companies, partnerships, and sole proprietorships, as well as nonprofit organizations, local municipalities and school districts within its market area.
Revenue and profit, by fiscal year.
| Fiscal year | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|
| Revenue | $47.6M | $48.7M | $48.9M | $47.7M | $48.1M | $54.5M |
| Net income | $12.8M | $13.2M | $12.6M | $11.3M | $8.8M | $11.1M |
| Free cash flow | -$8.1M | $25.7M | $28.4M | $7.2M | $11.1M | $16.0M |
More on UNB.
- Union Bankshares Inc summary
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- Union Bankshares Inc earnings
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- Union Bankshares Inc valuation
- Union Bankshares Inc ownership and insiders
- Union Bankshares Inc peers
Figures from Union Bankshares Inc's filings with the U.S. SEC, standardised automatically; prices are end-of-day closes. Not financial advice.