22.95
-0.04%
Close of 9 Nov 2026, in USD
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About Union Bankshares
From its filings with the US Securities and Exchange Commission
Union Bankshares is based in Morrisville, Vermont and is incorporated in Vermont. Its shares trade on Nasdaq under the ticker UNB. The SEC classifies its business as state commercial banks. In the fiscal year to 31 December 2025, it reported net income of $11.1m. At that date it held total assets of $1.62bn and shareholders' equity of $80.9m.
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.
Quoted from its 10-K, filed 20 Mar 2026. Read the filing on SEC.gov ↗
Company facts
- Sector
- Financials
- Industry
- Banks
- Listed since
- 13 Jul 2000
- Employees
- 195
- Head office
- P O BOX 667, MORRISVILLE, VT, 05661-0667
- Incorporated in
- VT
- Classification
- State Commercial Banks
- Filer status
- Non-accelerated filer<br>Smaller reporting company
Leadership
Pay as last reported
- Mr. Cornelius Van DykeIndependent Chairman of the Board$69,321
- Mr. David SilvermanPresident, Chief Executive Officer of the Company and bank, Director$807,422
- Ms. Karyn HaleVice President, Treasurer, and CFO of the Company and Executive Vice President, CFO and COO of Union Bank, since 2024$405,743
- Mr. Jonathan GouldExecutive Vice President, Senior Commercial Loan Officer of Union Bank$401,708
- Ms. Patricia HoganExecutive Vice President, Senior Risk Officer of Union Bank
- Mr. Stephen KendallExecutive Vice President, Senior Residential and Consumer Loan Officer of Union Bank
- Mr. Vincent SchoenigExecutive Vice President, Senior Information Technology and Operations Officer of Union Bank
- Mr. Joel BourassaIndependent Director$57,671
- Ms. Dawn BugbeeIndependent Director$62,071
- Ms. Mary ParentIndependent Director$56,713
- Ms. Nancy PutnamIndependent Director$66,813
- Mr. Gregory SargentIndependent Director$60,455
Environmental, social and governance
Scores out of 100, from our data supplier
- Overall
- 40
- Environment
- 12
- Social
- 35
- Governance
- 72
- Carbon reduction policy
- No
- Human rights policy
- No
SWOT analysis
AI-generated by our data supplier. Not written or checked by our editors.
Strengths
- Union Bankshares Inc has a strong market presence and a well-established brand reputation.
- The company boasts a diverse portfolio of financial products and services, enabling it to cater to a wide range of customer needs.
- Union Bankshares Inc has a robust capital structure and financial stability, allowing it to withstand economic downturns and uncertainties.
Weaknesses
- One weakness of Union Bankshares Inc is its limited geographical presence, which may hinder its growth potential in certain markets.
- The company heavily relies on traditional brick-and-mortar branches, which could make it vulnerable to the rising trend of digital and mobile banking.
- Union Bankshares Inc may face challenges in adapting quickly to technological advancements and digital transformation within the banking industry.
Opportunities
- The increasing demand for digital banking solutions presents a significant opportunity for Union Bankshares Inc to enhance its online and mobile banking platforms.
- Expansion into new markets through strategic partnerships or acquisitions could provide Union Bankshares Inc with growth opportunities and a broader customer base.
- The evolving regulatory environment offers the chance for Union Bankshares Inc to develop new compliance solutions and gain a competitive advantage.
Threats
- Intense competition from other financial institutions may pose a threat to Union Bankshares Inc's market share and profitability.
- Changes in government policies and regulations, especially in the financial sector, can create challenges and constraints for Union Bankshares Inc.
- Emerging technologies and fintech disruptors could potentially disrupt Union Bankshares Inc's traditional banking business model.
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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