Union Bankshares, Inc. has announced its financial results for the third quarter of 2026, showcasing a notable increase in net income and the declaration of a quarterly cash dividend. This update is significant as it underscores the bank's strong performance in the competitive landscape of state commercial banks.
On October 21, 2026, Union Bankshares, Inc. (NASDAQ: UNB) reported a net income of $3.8 million, or $0.77 per share, for the three months ending September 30, 2026. This is an increase from $3.4 million, or $0.75 per share, in the same period last year. For the nine months ending September 30, 2026, the bank recorded a net income of $9.7 million, or $2.03 per share, compared to $8.3 million, or $1.83 per share, in the previous year.
The company also declared a quarterly cash dividend of $0.36 per share, payable on November 5, 2026, to shareholders of record as of October 31, 2026. This decision reflects the bank's commitment to returning value to its shareholders while maintaining a robust financial position.
Union Bankshares, Inc. is a state commercial bank based in Morrisville, Vermont. The company operates under the SIC code 6022 and is listed on the Nasdaq exchange under the ticker UNB. In its recent filing, the bank highlighted its growth in total assets, which reached $1.64 billion as of September 30, 2026, up from $1.57 billion a year prior. This growth was driven by increases in both the securities and loan portfolios.
According to the filing, total loans increased by $52.5 million during the year, reaching an outstanding balance of $1.23 billion. The bank's investment securities also rose to $282 million, reflecting a strategic approach to asset management. The allowance for credit losses on loans was reported at $8.6 million, indicating a strong asset quality as the bank continues to monitor credit risk exposure.
In a statement regarding the results, President and CEO Jeffrey F. Weidley expressed pride in the bank's performance, attributing it to the dedication of its employees and the trust of its customers. He emphasized the importance of maintaining strong relationships and exceptional customer service as key drivers of success.
The filing outlines that noninterest income for the third quarter was $2.8 million, down from $3.3 million in the same period last year. However, net interest income increased by $988,000, reflecting a larger earning asset base and higher interest rates. The bank's total deposits also grew to $1.25 billion, compared to $1.19 billion a year earlier, indicating a solid foundation for future growth.
Looking ahead, Union Bankshares, Inc. is poised for continued success in the state commercial banking sector. The company’s proactive approach to financial management and customer service positions it well for future opportunities. The filing does not specify what happens next, but the strong quarterly results and dividend declaration suggest a positive outlook for the bank and its stakeholders.