UNB · Union Bankshares, Inc.

Union Bankshares delivered improved first-quarter 2026 results with net income of $3.0 million, or $0.65 per diluted share, versus $2.5 million, or $0.55 per share, in the prior-year period. The primary driver was a $1.0 million, or 10.0%, increase in net interest income to $11.3 million, fueled by a larger earning asset base and higher yields amid balance sheet expansion. Total assets reached $1.63 billion, up 6.6% year-over-year, with notable growth in the investment securities portfolio to $315.6 million (up 26.4%) from strategic pre-investments made in Q4 2025. Loan growth was modest at 1.3% to $1.18 billion, reflecting active residential lending with $24.1 million in mortgage sales, alongside support for local businesses and municipalities. Noninterest income held steady at $2.5 million, boosted by $350 thousand in net gains on mortgage sales, while noninterest expenses rose $958 thousand to $10.8 million due to investments in people, technology, and operations to enhance customer service. Credit quality remained robust, with the allowance for credit losses stable at $8.1 million. Deposits grew to $1.20 billion, supported by a mix of core, brokered, and FHLB funding sources. Stockholders' equity strengthened to $80.6 million, lifting book value per share 13.1% to $17.46, aided by retained earnings and securities portfolio gains. Management highlighted steady economic conditions in northern Vermont and New Hampshire, with stable employment, moderating inflation, and strong winter tourism boosting regional activity. The Board declared a $0.36 per share quarterly dividend, payable May 7, 2026, signaling confidence in sustained performance.