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Union Bankshares, Inc. operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in the United States. The company offers retail depository services, such as personal checking, savings, money market, IRA/SEP/KEOGH, and health savings accounts, as well as certificates of deposit. It also provides commercial real estate loans; commercial loans for plant and equipment, working capital, real estate renovation, and other business purposes to business owners and investors; small business administration guaranteed loans; residential construction and mortgage loans; municipal financing, including loans and excess deposits secured by FHLBB letters of credit; and home improvement loans and overdraft checking privileges against preauthorized lines of credit. In addition, the company offers online cash management services, including account reconciliation, credit card depository, automated clearing house origination, wire transfers, positive pay and night depository services; merchant credit card services for the deposit and immediate credit of sales drafts; remote deposit capture services; and online mortgage application and consumer deposit account opening services. Further, the company provides business checking accounts; standby letters of credit, bank checks or money orders, and safe deposit boxes; ATM cards and services; debit cards; telephone, internet, and mobile banking services, including bill pay; and wealth management, fiduciary, and trust services. It offers 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. The company was founded in 1891 and is headquartered in Morrisville, Vermont.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $53M | - | $11M | $16M | 13.7% | 13.7% | 26.5% |
| 2024 | $47M | - | $9M | $11M | 13.2% | -0.0% | -22.2% |
| 2023 | $47M | - | $11M | $7M | 17.1% | -2.2% | -10.8% |
| 2022 | $48M | - | $13M | $28M | 22.8% | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total Revenue | 47.90 | 46.84 | 46.83 | 53.23 |
| Pretax Income | 15.25 | 12.88 | 9.13 | 12.01 |
| Tax Provision | 2.63 | 1.62 | 0.37 | 0.93 |
| Net Income | 12.62 | 11.26 | 8.76 | 11.08 |
| Net Income Common Stockholders | 12.62 | 11.26 | 8.76 | 11.08 |
| Interest Expense | 4.52 | 19.27 | 29.59 | 32.77 |
| Interest Income | 43.92 | 56.85 | 67.41 | 74.96 |
| Selling General And Administration | 20.35 | 20.61 | 22.56 | 25.41 |
| Normalized Income | 12.62 | 11.26 | 8.76 | 11.08 |
| Basic EPS | 2.81 | 2.50 | 1.94 | 0 |
| Diluted EPS | 2.81 | 2.50 | 1.94 | 0 |
| Tax Effect Of Unusual Items | 0 | 0 | 0 | 0 |
| Tax Rate For Calcs | 0.16 | 0.12 | 0.05 | 0.07 |
| Net Income From Continuing Operation Net Minority Interest | 12.62 | 11.26 | 8.76 | 11.08 |
| Reconciled Depreciation | 1.80 | 1.64 | 1.59 | 1.63 |
| Net Interest Income | 39.40 | 37.58 | 37.82 | 42.19 |
| Net Income From Continuing And Discontinued Operation | 12.62 | 11.26 | 8.76 | 11.08 |
| Diluted Average Shares | 4.49 | 4.50 | 4.52 | 0 |
| Basic Average Shares | 4.49 | 4.50 | 4.52 | 0 |
| Diluted NI Availto Com Stockholders | 12.62 | 11.26 | 8.76 | 11.08 |
| Net Income Including Noncontrolling Interests | 12.62 | 11.26 | 8.76 | 11.08 |
| Net Income Continuous Operations | 12.62 | 11.26 | 8.76 | 11.08 |
| Gain On Sale Of Security | -0.03 | 0.19 | -1.08 | 0.20 |
| Selling And Marketing Expense | 0.62 | 0.66 | 0 | 0 |
| General And Administrative Expense | 19.73 | 20.61 | 22.56 | 25.41 |
| Insurance And Claims | 0.62 | 1 | 1.17 | 1.48 |
| Salaries And Wages | 19.11 | 19.61 | 21.39 | 23.93 |
| Operating Revenue | 47.90 | 46.84 | 46.83 | 53.23 |
| Occupancy And Equipment | 5.61 | 5.76 | 6.19 | 6.72 |
| Professional Expense And Contract Services Expense | 0.88 | 1.02 | 1.06 | 1.15 |
| Other Non Interest Expense | 5.82 | 7.08 | 6.96 | 7.18 |
Financial Services sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| Union Bankshares, Inc.this co. | UNB | $115M | 10.37↓ discount | 1.43 | 13.7% | - |
| Richmond Mutual Bancorporation, Inc. | RMBI | $152M | 12.48 | 1.04 | 7.9% | - |
| SR Bancorp, Inc. | SRBK | $144M | 33.09 | 0.77 | 2.7% | - |
| Finward Bancorp | FNWD | $138M | 13.94 | 0.79 | 4.6% | - |
| SB Financial Group, Inc. | SBFG | $133M |
| 9.70 |
| 0.92 |
| 9.9% |
| - |
| Silvercrest Asset Management Group Inc. | SAMG | $107M | 23.59 | 2.04 | 5.8% | 9.86 |
| Sound Financial Bancorp, Inc. | SFBC | $98M | 14.04 | 0.96 | 6.5% | - |
| Kestrel Group Ltd | KG | $89M | 1.12 | 0.58 | 36.4% | - |
| Vroom, Inc. | VRM | $80M | - | 0.69 | -45.5% | 57.65 |
| Peer Median | - | 13.94 | 0.86 | 6.1% | 33.75 | |