Union Bankshares, Inc. ( (UNB) ) has released its Q2 earnings. Here is a breakdown of the information Union Bankshares, Inc. presented to its investors.
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Union Bankshares, Inc., headquartered in Morrisville, Vermont, is a bank holding company that provides commercial, retail, and municipal banking services, along with wealth management services across northern Vermont and New Hampshire. The company operates 18 banking offices and three loan centers, maintaining a strong commitment to community values and financial expertise.
In its latest earnings report, Union Bankshares, Inc. announced a consolidated net income of $2.4 million for the second quarter of 2025, marking an 18.6% increase from the same period in 2024. The company also declared a regular quarterly cash dividend, reflecting its continued financial stability and commitment to shareholder returns.
The company’s total assets grew to $1.48 billion as of June 30, 2025, driven primarily by a 9.8% increase in total loans. Interest income rose by 13.1% to $18.7 million, while interest expenses increased by 17.1% due to higher rates on customer deposits. Despite these increases, net interest income saw a positive growth of 10.1%. Noninterest expenses also rose by 7.2%, influenced by higher salaries, wages, and employee benefits.
Union Bankshares’ balance sheet remains robust, with total deposits reaching $1.10 billion and equity capital increasing to $71.3 million. The company continues to maintain strong asset quality, with minimal past due loans and net recoveries reported for the period.
Looking ahead, Union Bankshares, Inc. remains focused on leveraging its strong financial position to support growth and provide value to its customers and shareholders. The management is optimistic about navigating future economic uncertainties while continuing to uphold its core values and community commitments.