Union Bankshares, Inc.

Union Bankshares Announces Earnings for the three and nine months ended September 30, 2026 and Declares Quarterly Dividend

Union Bankshares reported Q3 2026 net income of $3.8 million, or $0.77 per share, up from $3.4 million, or $0.75, a year earlier. Net interest income rose 10% to $12.1 million on a larger earning asset base, while credit loss expense fell to just $34 thousand; nine-month EPS was $2.03 versus $1.83. The board declared a $0.36 quarterly dividend payable November 5 to holders of record October 31. Book value per share declined to $15.94 from $16.95, driven by a $40.7 million accumulated other comprehensive loss on securities; the company also sold 384,066 shares under its ATM program for $8.6 million in net proceeds.

•4d ago

UNB: 10-Q · periodic report

Union Bankshares' second-quarter 2026 net income rose 22.1% to $2.9 million ($0.61 basic EPS vs $0.53 a year ago), driven by a $1.2 million increase in net interest income and net interest margin expansion to 3.01% from 2.89%. Six-month net income climbed 21.1% to $5.9 million. Total assets stood at $1.56 billion at June 30, 2026, with deposits of $1.09 billion down 10% since year-end largely on the seasonal municipal loan and deposit cycle; the bank funded $74.5 million of new municipal loans in early July. Stockholders' equity rose to $90.4 million, boosted by $7.4 million of net proceeds from an at-the-market offering of 327,806 shares at an average $23.51 per share. Asset quality stayed clean with zero charge-offs in the first half and the allowance for credit losses steady at 0.75% of loans, though nonaccrual loans edged up to $15.0 million from $13.6 million at year-end. Both the company and Union Bank met all capital requirements, with the bank well capitalized at a 13.73% total capital ratio. A $0.36 quarterly dividend was declared July 15, 2026, payable August 6, and book value per share grew to $18.28 from $15.66 a year earlier. Watch items include the September 1, 2026 reset of $16.5 million subordinated notes to three-month SOFR plus 263 basis points, a $21.0 million overnight FRB discount-window advance at quarter end, and the higher-cost time-deposit mix (time deposits up 11.4% since December).

SEC 10-Q•2mo ago

Union Bankshares Announces Earnings for the three and six months ended June 30, 2026 and Declares Quarterly Dividend

Union Bankshares reported Q2 2026 net income of $2.9 million, or $0.61 per share, up from $2.4 million, or $0.53 per share, in the prior year, driven by an 11.2% increase in net interest income to $11.6 million. The board declared a regular quarterly cash dividend of $0.36 per share, payable August 6, while book value per share increased 16.7% year-over-year to $18.28, supported by net proceeds of $8.6 million from at-the-market share sales. Total assets grew 5.3% to $1.56 billion, and the company announced a leadership transition with former CEO David S. Silverman moving to Chair of the Board and Jeffrey F. Weidley continuing as President and CEO. Asset quality remained strong with an allowance for credit losses of $8.4 million, despite noninterest expenses rising 9.3% due to higher salaries and wages.

•3mo ago