Union Bankshares, Inc.
Description
Union Bankshares, Inc. operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in northern Vermont and New Hampshire. It offers retail depository services, such as personal checking, savings, money market, IRA/SEP/KEOGH, and health savings accounts, as well as certificates of deposit. The company 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, it 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. Union Bankshares, Inc. was founded in 1891 and is headquartered in Morrisville, Vermont.
About
CEO
Mr. David Scott Silverman
Employees
197
Instrument type
Common Stock
Sector
Financial Services
Industry
Banks - Regional
MIC code
XNMS
Address
20 Lower Main Street, Morrisville, VT 05661-0667, United States
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Oscillators
No data available
Summary
No data available
Moving Averages
No data available
Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Jan 13, 2026 | — | — | — | — |
| Oct 14, 2025 | — | — | — | — |
| Jul 15, 2025 | — | — | — | — |
| Apr 15, 2025 | — | — | — | — |
| Apr 19, 2023 | — | 0.66 | — | — |
Earnings estimate
| Number of analysts | — | — | — | — |
|---|---|---|---|---|
| Average estimate | — | — | — | — |
| Low estimate | — | — | — | — |
| High estimate | — | — | — | — |
| Last year EPS | — | — | — | — |
[stock_revenue_estimate]
Growth estimates
Current qtr
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Next qtr.
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Current year
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Next year
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Next 5 years (per annum)
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Past 5 years (per annum)
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Income statement
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total reported revenue | 46.84M | 47.90M | 47.77M | 46.81M | 39.94M |
| Cost of revenue | — | — | — | — | — |
| Gross profit | — | — | — | — | — |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 21.27M | 20.35M | 20.74M | 19.29M | 17.09M |
| Other operating expenses | — | — | — | — | — |
| Operating income | — | — | — | — | — |
| Non operating interest income | |||||
| Income | — | — | — | — | — |
| Expense | — | — | — | — | — |
| Other income expense | — | — | — | — | — |
| Pretax income | 12.88M | 15.25M | 15.82M | 15.22M | 12.48M |
| Tax provision | 1.62M | 2.63M | 2.65M | 2.42M | 1.83M |
| Net income | 11.26M | 12.62M | 13.17M | 12.81M | 10.65M |
| Basic EPS | 2.50 | 2.81 | 2.94 | 2.86 | 2.38 |
| Diluted EPS | 2.50 | 2.81 | 2.94 | 2.86 | 2.38 |
| Basic average shares | 4.50M | 4.49M | 4.48M | 4.48M | 4.47M |
| Diluted average shares | 4.50M | 4.49M | 4.48M | 4.48M | 4.47M |
| EBITDA | — | — | — | — | — |
| Net income from continuing op. | 11.26M | 12.62M | 13.17M | 12.81M | 10.65M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2023 | 2022 | 2021 | 2020 | 2019 | |
|---|---|---|---|---|---|
| Fiscal date | 2023-12-31 | 2022-12-31 | 2021-12-31 | 2020-12-31 | 2019-12-31 |
| Total assets | — | — | — | — | — |
| Current assets | |||||
| Cash | 4.43M | 4.50M | 4.66M | 5.41M | 5.41M |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 19.12M | 20.93M | 17.86M | 18.11M | 11.97M |
| Other short term investments | 264.38M | 250.27M | 267.82M | 105.76M | 87.39M |
| Accounts receivable | — | — | — | — | — |
| Other receivables | — | — | — | — | — |
| Inventory | — | — | — | — | — |
| Prepaid assets | — | — | — | — | — |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | — | — | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | — | — | — | — | — |
| Non current assets | |||||
| Properties | — | — | — | — | — |
| Land and improvements | 4.47M | 4.47M | 4.47M | 4.05M | 3.92M |
| Machinery furniture equipment | 12.26M | 11.64M | 11.31M | 10.33M | 10.40M |
| Construction in progress | 505,000 | 361,000 | 122,000 | 170,000 | 91,000 |
| Leases | — | — | — | — | — |
| Accumulated depreciation | -18.03M | -16.42M | -14.70M | -13.21M | -11.98M |
| Goodwill | — | — | — | 4.45M | 4.45M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | — | — | — | — | — |
| Investments and advances | 265.88M | 251.53M | 268.95M | 106.81M | 88.08M |
| Other non current assets | — | — | — | — | — |
| Total liabilities | — | — | — | — | — |
| Current liabilities | |||||
| Accounts payable | — | 13.15M | 9.78M | 11.22M | 9.88M |
| Accrued expenses | — | — | — | — | — |
| Short term debt | — | — | — | — | — |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | — | — | — | — |
| Non current liabilities | |||||
| Long term debt | 81.94M | 66.21M | 16.17M | 7.16M | 47.16M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | — | — | — | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | — | — | — | — | — |
| Shareholders equity | |||||
| Common stock | 9.99M | 9.97M | 9.93M | 9.91M | 9.90M |
| Retained earnings | 89.47M | 84.67M | 78.35M | 71.10M | 64.02M |
| Other shareholders equity | -31.96M | -37.42M | -1.55M | 2.64M | 986,000 |
| Total shareholders equity | 65.81M | 55.22M | 84.34M | 80.87M | 71.84M |
| Additional paid in capital | 2.62M | 2.23M | 1.77M | 1.39M | 1.12M |
| Treasury stock | 4.32M | 4.22M | 4.16M | 4.17M | 4.18M |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | 2011 | 2010 | 2009 | 2008 | 2007 | 2006 | 2005 | 2004 | 2003 | 2002 | 2001 | 2000 | 1999 | 1998 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||||||||||||||||||||
| Net Income | 11.26M | 12.62M | 13.17M | 12.81M | 10.65M | 7.07M | 8.45M | 8.51M | 7.88M | 7.69M | 7.14M | 6.84M | 5.22M | 5.59M | 5.23M | 5.11M | 5.66M | 6.26M | 6.24M | 5.84M | 5.39M | 5.18M | 4.83M | 4.80M | 4.08M | 4.55M |
| Depreciation | 1.64M | 1.80M | 1.90M | 2.06M | 1.74M | 1.39M | 1.39M | 1.43M | 1.25M | 1.15M | 1.07M | 1.06M | 792,000 | 660,000 | 713,659 | 784,375 | 773,000 | 841,382 | 908,609 | 902,257 | 915,883 | 856,000 | 697,262 | 840,416 | 990,819 | 789,826 |
| Deferred Taxes | 266,000 | -270,000 | 371,000 | -777,000 | 438,000 | -508,000 | 993,000 | 566,000 | 341,000 | -37,000 | 581,000 | -786,000 | 595,000 | -96,000 | -11,415 | 232,643 | -56,000 | -21,433 | 93,290 | 197,939 | 1,918 | 35,000 | -49,714 | -18,339 | 52,958 | 28,650 |
| Stock-Based Compensation | 374,000 | 446,000 | 299,000 | 236,000 | 165,000 | 120,000 | 104,000 | 66,000 | 35,000 | 20,000 | 12,000 | 8,000 | 9,000 | 25,000 | 11,648 | 5,282 | — | — | — | — | — | — | — | — | — | — |
| Other Non-Cash Items | -695,000 | 13.69M | 23.31M | -16.58M | -1.65M | 6.03M | 1.41M | -20,000 | 7.95M | -4.94M | 9.47M | -2.65M | 156,000 | -1.24M | 93,075 | 429,158 | 651,000 | 487,494 | 330,246 | 9.80M | -1.15M | -524,000 | -6.75M | -770,345 | -732,806 | -904,369 |
| Accounts Receivable | -1.25M | -916,000 | 881,000 | -1.20M | -122,000 | -312,000 | -241,000 | -427,000 | 22,000 | -191,000 | -124,000 | 271,000 | -53,000 | 74,000 | 304,468 | 125,269 | — | — | — | — | — | — | — | — | -69,443 | -7,218 |
| Accounts Payable | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | -107,210 | — |
| Other Assets & Liabilities | -2.47M | 873,000 | -7.50M | 1.12M | 1.47M | -1.07M | -1.20M | -621,000 | -2.72M | -369,000 | 752,000 | 1.22M | 761,000 | 952,887 | -3.73M | 703,130 | -4.01M | 2.96M | 2.15M | -162,676 | -461,570 | — | — | — | — | — |
| Operating Cash Flow | 9.13M | 28.24M | 32.43M | -2.33M | 12.69M | 12.72M | 10.90M | 9.50M | 14.76M | 3.32M | 18.90M | 5.96M | 7.48M | 5.96M | 2.61M | 7.39M | 3.01M | 10.52M | 9.72M | 16.58M | 4.69M | 5.55M | -1.27M | 4.85M | 4.21M | 4.46M |
| Investing Activities | ||||||||||||||||||||||||||
| Capital Expenditures | -1.93M | -665,000 | -3.51M | -1.01M | -6.42M | -2.87M | -1.99M | -1.74M | -2.29M | -2.17M | -1.29M | -2.00M | -1.50M | -868,000 | -875,345 | -872,773 | -1.07M | -1.28M | -1.56M | -1.36M | -483,796 | -1.12M | -1.02M | -737,316 | 284,969 | -206,950 |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | — | — | — | — | — | — | — | 29.61M | -179,000 | — | — | — | — | — | — | — | — | — | — | — | — |
| Purchase of Investments | -28.64M | -62.92M | -207.16M | -44.35M | -35.66M | -17.21M | -21.47M | -30.05M | -27.45M | -24.28M | -27.22M | -15.13M | -38.68M | -14.18M | -6.67M | -5.74M | -14.53M | -3.18M | -9.90M | -16.87M | -26.75M | -18.22M | -22.27M | -5.99M | -30.97M | -32.93M |
| Sale of Investments | 16.70M | 30.34M | 36.91M | 26.61M | 21.82M | 7.70M | 21.34M | 20.59M | 20.56M | 17.73M | 6.26M | 35.08M | 15.46M | 14.34M | 10.59M | 9.33M | 4.80M | 11.67M | 17.70M | 18.49M | 26.87M | 21.28M | 30.11M | 11.35M | 19.56M | 18.20M |
| Investing Cash Flow | -13.87M | -33.25M | -173.65M | -17.29M | -23.49M | -12.07M | -2.10M | -11.08M | -13.72M | -8.18M | -21.73M | 19.33M | 3.36M | -463,124 | 3.27M | 3.57M | -14.61M | -3.08M | -24.42M | -17.88M | -14.21M | -2.62M | -16.73M | -9.98M | -11.48M | -14.84M |
| Financing Activities | ||||||||||||||||||||||||||
| Long-Term Debt Issuance | 90.70M | — | 16.50M | — | — | 7.00M | 10.00M | 25.45M | — | — | 2.00M | 2.00M | — | 2.98M | — | 12.00M | — | — | 8.32M | 711,122 | — | — | 3.96M | 3.51M | 8.63M | 5.80M |
| Long-Term Debt Payments | -35.00M | — | -7.16M | -40.00M | -20.29M | -19.77M | -10.28M | -2.90M | -294,000 | -3.59M | -1.93M | -12.59M | -4.64M | -1.54M | -1.86M | -4.91M | 5.73M | -1.66M | — | — | -313,502 | -2.81M | — | — | — | — |
| Other Financing Charges | — | — | -340,000 | — | — | — | — | — | — | — | — | — | — | — | — | — | -1,000 | — | — | — | -3,404 | — | — | — | 5.42M | 8.33M |
| Financing Cash Flow | 9.15M | 43.69M | 3.19M | -85.67M | 13.87M | -9.20M | -5.21M | 17.14M | -10.41M | -2.74M | -6.99M | -17.75M | -7.63M | -6.56M | -1.25M | -2.50M | 665,000 | -6.47M | 2.04M | -3.39M | -4.05M | -6.26M | 748,882 | 540,810 | 11.86M | 12.16M |
| Other Cash Details | ||||||||||||||||||||||||||
| End Cash Position | 77.67M | 37.89M | 65.92M | 122.77M | 51.13M | 37.29M | 38.51M | 39.28M | 17.96M | 41.74M | 30.72M | 46.51M | 24.38M | 14.29M | 22.13M | 26.33M | 13.43M | 20.96M | 14.21M | 21.12M | 24.63M | 25.75M | 21.56M | 11.50M | 15.10M | 19.20M |
| Income Tax Paid | 925,000 | 950,000 | 1.85M | 1.35M | 800,000 | 1.55M | 1.52M | 1.51M | 2.04M | 1.95M | 1.35M | 2.23M | 725,000 | 1.61M | 1.25M | 1.23M | — | — | — | — | — | — | — | — | — | — |
| Interest Paid | 17.96M | 4.39M | 3.45M | 5.71M | 5.15M | 3.48M | 2.25M | 2.24M | 2.06M | 2.15M | 2.46M | 3.41M | 3.94M | 4.29M | 5.53M | 7.50M | — | — | — | — | — | — | — | — | — | — |
| Free Cash Flow | 7.25M | 28.37M | 25.68M | -8.07M | 5.23M | 13.69M | 7.88M | 5.71M | 10.84M | 34,000 | 16.53M | 1.45M | 5.86M | 10.36M | -3.76M | 10.88M | 1.83M | 8.72M | 7.49M | 15.20M | 4.20M | 4.63M | -1.88M | 3.93M | 3.81M | 3.45M |
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Article
Union Bankshares Announces Earnings for the three months and year ended December 31, 2024 and Declares Quarterly Dividend
MORRISVILLE, Vt., Jan. 15, 2025 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three months and year ended December 31, 2024 and declared a regular quarterly cash dividend.
Jan 15, 2025
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Interest rate cuts and tight local labor markets will drive Union Bankshares' loan growth. However, elevated home prices may put a dampener on growth. The recent balance sheet repositioning and the ongoing down-rate cycle will lift the margin. The December 2025 target price suggests a mid-single-digit upside from the October 28 closing price.
Oct 30, 2024
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Union Bankshares Announces Earnings for the three and nine months ended September 30, 2024 and Declares Quarterly Dividend
MORRISVILLE, Vt., Oct. 16, 2024 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three and nine months ended September 30, 2024 and declared a regular quarterly cash dividend. Consolidated net income for the three months ended September 30, 2024 was $1.3 million, or $0.29 per share, compared to $2.5 million, or $0.56 per share, for the same period in 2023, and $5.8 million, or $1.27 per share, for the nine months ended September 30, 2024, compared to $8.2 million, or $1.82 per share for the same period in 2023. The decrease in earnings for the comparison periods was primarily due to the impact of the previously announced strategic balance sheet repositioning executed during the third quarter. The Company's wholly-owned subsidiary, Union Bank, executed the sale of $38.8 million in book value of its lower-yielding available-for-sale debt securities for a pre-tax realized loss of $1.3 million, which was recorded in the third quarter of 2024.
Oct 16, 2024
