Union Bankshares reports $3 million net income for Q4 2024, total assets $1.53 billion.

From GlobeNewswire: 2025-01-15 15:16:00

Union Bankshares, Inc. (NASDAQ – UNB) reported a net income of $3.00 million for the fourth quarter of 2024 and $8.8 million for the year ended December 31, 2024. Total assets were $1.53 billion as of December 31, 2024, with loans increasing by $130.0 million. The company declared a cash dividend of $0.36 per share.

During 2024, Union Bankshares saw an increase in total deposits to $1.17 billion and a decrease in Federal Home Loan Bank advances to $259.7 million. The company had total equity capital of $66.5 million as of December 31, 2024, and a book value per share of $14.65. Loan sales of $113.5 million were made during 2024.

Consolidated net income for the year ended December 31, 2024, was $8.8 million, compared to $11.3 million for the previous year. Interest income increased to $68.0 million, while interest expense rose to $29.6 million. Credit loss expense was $930 thousand for 2024. The Board of Directors declared a cash dividend of $0.36 per share.

Union Bankshares, Inc., the parent company of Union Bank, provides commercial, retail, and municipal banking services in northern Vermont and New Hampshire. Since 1891, Union Bank has been helping individuals and communities achieve their financial goals. The company’s commitment to traditional values, community involvement, and financial expertise sets it apart as a premier banking choice.



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