Union Bankshares, Inc. (UNB) 10-Year Financial Performance & Capital Metrics

UNB • • Banking & Credit

Financial ServicesRegional BanksCommunity & Regional Retail BankingNortheast Community Banks

AboutUnion 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; home improvement loans and overdraft; and residential construction and mortgage loans. In addition, it offers online cash management services, including account reconciliation, credit card depository, automated clearing house origination, wire transfers, 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 services. Further, the company provides business checking accounts; standby letters of credit, bank checks or money orders, and safe deposit boxes; ATM services; debit cards; telephone, Internet, and mobile banking services; and asset management, fiduciary, and trust services. The company offers retail banking services to individuals; and commercial banking services to small and medium sized corporations, partnerships, and sole proprietorships, as well as nonprofit organizations, local municipalities, and school districts. It operates 18 banking offices, 3 loan centers, and various ATMs. Union Bankshares, Inc. was founded in 1891 and is headquartered in Morrisville, Vermont.Show more

Net Interest Income $38M +0.6%
Total Revenue $76M +15.6%
Net Income $9M -22.2%
Return on Equity 13.25% -28.8%
Net Interest Margin 2.47% -3.1%
Efficiency Ratio 48.11% -7.7%
ROA 0.58% -27.1%
Equity / Assets 4.35% -2.8%
Book Value per Share 14.60 +0.6%
Tangible BV/Share 14.60 +0.6%
Debt/Equity 4.15 +223.1%

Technical Analysis

Key Insights

Based on financial data analysis

✓Strengths

✓Efficient operations: 48.1% efficiency ratio
✓14 consecutive years of dividend growth
✓Good 3Y average ROE of 16.6%
✓Healthy dividend yield of 5.7%

✗Weaknesses

✗High debt to equity ratio of 4.2x
✗Thin capital base
✗Trading more than 30% below 52-week high

Price & Volume

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Growth Metrics

Revenue CAGR

10Y8.74%

5Y10.91%

3Y14.18%

TTM-

Profit (Net Income) CAGR

10Y1.31%

5Y-3.83%

3Y-12.71%

TTM28.65%

EPS CAGR

10Y1.05%

5Y-4.2%

3Y-13.04%

TTM28.87%

ROCE

10Y Avg11.54%

5Y Avg9.82%

3Y Avg5.87%

Latest1.41%

Peer Comparison

Northeast Community Banks

Name	Market Cap	Current Price	P/E Ratio	Revenue Growth 1Y	Net Margin	ROE	FCF Yield	Debt/Equity
DCOMDime Community Bancshares, Inc.	1.37B	31.13	56.60	0.1%	4.5%	4.02%	6.79%	0.70
EBCEastern Bankshares, Inc.	4.4B	19.56	29.64	91.64%	11.17%	1.3%	6.14%	0.01
LYGLloyds Banking Group plc	80.5B	5.48	21.92	10.79%	11.75%	9.93%		1.76
CFGCitizens Financial Group, Inc.	26.03B	60.61	20.00	1.31%	12.22%	6.6%	7.22%	0.51
PFSProvident Financial Services, Inc.	2.65B	20.29	19.32	63.91%	10.13%	7.51%	16.04%	0.93
CBUCommunity Bank System, Inc.	3.3B	62.73	18.24	24.44%	19.4%	10.34%	6.71%	0.57
VLYValley National Bancorp	6.7B	12.02	17.42	6.51%	10.65%	6.53%	8.18%	0.50
INDBIndependent Bank Corp.	3.8B	76.62	16.95	6.89%	19.72%	7.76%	5.51%	0.23

Profit & Loss

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Net Interest Income+	23.08M	24.68M	26.59M	28.47M	30.13M	31.51M	35.69M	39.4M	37.58M	37.82M
NII Growth %	0.02%	0.07%	0.08%	0.07%	0.06%	0.05%	0.13%	0.1%	-0.05%	0.01%
Net Interest Margin %	-	-	-	-	-	-	-	-	-	-
Interest Income	25.14M	26.84M	29.02M	32.18M	36M	36.75M	39.27M	43.95M	56.85M	67.41M
Interest Expense	2.02M	2.06M	2.25M	3.58M	5.62M	5.15M	3.56M	4.52M	19.27M	29.59M
Loan Loss Provision	550K	150K	200K	450K	759K	2.2M	0	0	-499K	930K
Non-Interest Income+	9.01M	9.5M	8.7M	8.78M	9.53M	15.2M	12.06M	8.47M	9.26M	9.01M
Non-Interest Income %	-	-	-	-	-	-	-	-	-	-
Total Revenue+	34.15M	36.34M	37.71M	40.96M	45.53M	51.95M	51.34M	52.42M	66.11M	76.42M
Revenue Growth %	0.03%	0.06%	0.04%	0.09%	0.11%	0.14%	-0.01%	0.02%	0.26%	0.16%
Non-Interest Expense	21.04M	23.02M	23.21M	28.59M	26.68M	29.38M	31.96M	32.65M	34.46M	36.77M
Efficiency Ratio	-	-	-	-	-	-	-	-	-	-
Operating Income+	10.54M	11.11M	12.05M	8.35M	12.48M	15.22M	15.82M	15.25M	12.88M	9.13M
Operating Margin %	-	-	-	-	-	-	-	-	-	-
Operating Income Growth %	0.09%	0.05%	0.08%	-0.31%	0.5%	0.22%	0.04%	-0.04%	-0.16%	-0.29%
Pretax Income+	10.54M	11.11M	12.05M	8.35M	12.48M	15.22M	15.82M	15.25M	12.88M	9.13M
Pretax Margin %	-	-	-	-	-	-	-	-	-	-
Income Tax+	2.66M	2.6M	3.6M	1.27M	1.83M	2.42M	2.65M	2.63M	1.62M	369K
Effective Tax Rate %	-	-	-	-	-	-	-	-	-	-
Net Income+	7.88M	8.51M	8.45M	7.07M	10.65M	12.8M	13.17M	12.62M	11.26M	8.76M
Net Margin %	-	-	-	-	-	-	-	-	-	-
Net Income Growth %	0.02%	0.08%	-0.01%	-0.16%	0.51%	0.2%	0.03%	-0.04%	-0.11%	-0.22%
Net Income (Continuing)	7.88M	8.51M	8.45M	7.07M	10.65M	12.8M	13.17M	12.62M	11.26M	8.76M
EPS (Diluted)+	1.77	1.91	1.89	1.58	2.38	2.85	2.92	2.79	2.48	1.92
EPS Growth %	0.02%	0.08%	-0.01%	-0.16%	0.51%	0.2%	0.02%	-0.04%	-0.11%	-0.23%
EPS (Basic)	1.77	1.91	1.89	1.58	2.38	2.86	2.94	2.81	2.50	1.94
Diluted Shares Outstanding	4.45M	4.46M	4.47M	4.48M	4.48M	4.49M	4.51M	4.51M	4.54M	4.55M

Balance Sheet

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash & Short Term Investments+	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K
Cash & Due from Banks	16.97M	13.78M	13.21M	13.35M	11.97M	18.11M	17.86M	20.93M	0	14.63M
Short Term Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	0	1000K
Total Investments+	563.15M	605.83M	659.55M	718.57M	760.69M	901.75M	1.06B	1.2B	0	1.41B
Investments Growth %	0.04%	0.08%	0.09%	0.09%	0.06%	0.19%	0.18%	0.13%	-1%	-
Long-Term Investments	509.05M	540.28M	594.12M	645.16M	673.3M	795.99M	794.38M	953.6M	0	1.23B
Accounts Receivables	1000K	1000K	1000K	1000K	0	0	0	0	0	0
Goodwill & Intangibles+	-	-	-	-	-	-	-	-	-	-
Goodwill	2.22M	2.22M	2.22M	2.22M	2.22M	2.22M	0	0	0	0
Intangible Assets	925K	754K	583K	412K	0	0	0	0	0	0
PP&E (Net)	13.05M	13.53M	14.26M	16.07M	20.92M	20.04M	21.61M	20.48M	23.22M	20.23M
Other Assets	30.72M	53.01M	53.51M	52.32M	77.11M	151.43M	103.7M	91.22M	-34.42M	85.82M
Total Current Assets	72.91M	81.59M	81.15M	89.56M	99.36M	123.88M	285.67M	271.2M	97.77M	188.92M
Total Non-Current Assets	555.97M	609.79M	664.68M	715.77M	773.55M	969.68M	919.7M	1.07B	0	1.34B
Total Assets+	628.88M	691.47M	745.75M	805.34M	872.91M	1.09B	1.21B	1.34B	1.47B	1.53B
Asset Growth %	0.01%	0.1%	0.08%	0.08%	0.08%	0.25%	0.1%	0.11%	0.1%	0.04%
Return on Assets (ROA)	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%	0.01%
Accounts Payable	5.34M	5.85M	8.02M	6.25M	9.88M	11.22M	9.78M	13.15M	0	0
Total Debt+	11.19M	32.69M	31.58M	27.82M	47.16M	7.16M	16.17M	66.2M	84.54M	275.97M
Net Debt	-5.78M	18.92M	18.37M	14.48M	35.19M	-10.95M	-1.68M	45.27M	84.54M	261.34M
Long-Term Debt	9.56M	31.59M	31.58M	27.82M	47.16M	7.16M	16.17M	66.2M	71.94M	275.97M
Short-Term Debt	1.62M	1.1M	0	0	0	0	0	0	10.21M	0
Other Liabilities	-1.62M	-1.1M	0	0	0	0	0	0	-76.63M	17.02M
Total Current Liabilities	567.37M	604.61M	655.59M	713.02M	753.9M	1.01B	1.1B	1.22B	538.93M	1.17B
Total Non-Current Liabilities	7.94M	30.5M	31.58M	27.82M	47.16M	7.16M	16.17M	66.2M	0	292.98M
Total Liabilities	575.31M	635.37M	686.92M	740.85M	801.07M	1.01B	1.12B	1.28B	1.41B	1.46B
Total Equity+	53.57M	56.1M	58.82M	64.49M	71.84M	80.87M	84.34M	55.22M	65.81M	66.48M
Equity Growth %	0.04%	0.05%	0.05%	0.1%	0.11%	0.13%	0.04%	-0.35%	0.19%	0.01%
Equity / Assets (Capital Ratio)	-	-	-	-	-	-	-	-	-	-
Return on Equity (ROE)	0.15%	0.16%	0.15%	0.11%	0.16%	0.17%	0.16%	0.18%	0.19%	0.13%
Book Value per Share	12.04	12.59	13.16	14.41	16.03	18.00	18.71	12.23	14.50	14.60
Tangible BV per Share	-	-	-	-	-	-	-	-	-	-
Common Stock	9.86M	9.87M	9.88M	9.89M	9.9M	9.91M	9.93M	9.96M	9.99M	10.02M
Additional Paid-in Capital	501K	620K	755K	894K	1.12M	1.39M	1.77M	2.23M	2.62M	3.03M
Retained Earnings	49.52M	53.09M	57.2M	58.91M	64.02M	71.1M	78.35M	84.67M	89.47M	91.72M
Accumulated OCI	-2.3M	-3.28M	-5.1M	-1.02M	986K	2.64M	-1.55M	-37.42M	-31.95M	-34M
Treasury Stock	-4.02M	-4.02M	-4.08M	-4.18M	-4.18M	-4.17M	-4.16M	-4.22M	-4.32M	-4.3M
Preferred Stock	0	0	0	0	0	0	0	0	0	0

Cash Flow

	Dec 2015	Dec 2016	Dec 2017	Dec 2018	Dec 2019	Dec 2020	Dec 2021	Dec 2022	Dec 2023	Dec 2024
Cash from Operations+	13.13M	7.64M	9.87M	16.76M	11.64M	-7.06M	29.19M	29.03M	9.19M	12.15M
Operating CF Growth %	4.96%	-0.42%	0.29%	0.7%	-0.31%	-1.61%	5.13%	-0.01%	-0.68%	0.32%
Net Income	7.88M	8.51M	8.45M	7.07M	10.65M	12.8M	13.17M	12.62M	11.26M	8.76M
Depreciation & Amortization	1.25M	1.43M	1.39M	1.39M	1.74M	2.06M	1.9M	1.8M	1.64M	1.59M
Deferred Taxes	341K	566K	993K	-508K	438K	-777K	371K	-270K	266K	-1.83M
Other Non-Cash Items	6.32M	-1.88M	373K	10.07M	-2.69M	-21.31M	20.08M	14.48M	-635K	2.13M
Working Capital Changes	-2.7M	-1.05M	-1.45M	-1.38M	1.34M	-80K	-6.62M	-43K	-3.71M	1.09M
Cash from Investing+	-34.85M	-40.72M	-55.34M	-67.98M	-48.93M	-125.91M	-190.01M	-207.58M	-82.25M	-124.83M
Purchase of Investments	-27.45M	-30.05M	-21.47M	-17.21M	-35.66M	-44.35M	-207.16M	-62.92M	-28.64M	-58.33M
Sale/Maturity of Investments	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K	1000K
Net Investment Activity	-	-	-	-	-	-	-	-	-	-
Acquisitions	0	0	0	0	0	0	0	0	0	0
Other Investing	-25.67M	-29.33M	-53.23M	-55.4M	-28.72M	-107.16M	-16.25M	-174.34M	-68.36M	-121.94M
Cash from Financing+	-2.07M	54.39M	44.71M	50M	51.13M	204.61M	103.97M	150.51M	112.84M	50.85M
Dividends Paid	-4.82M	-4.94M	-5.15M	-5.33M	-5.5M	-5.69M	-5.88M	-6.24M	-6.42M	-6.44M
Share Repurchases	-94K	-6K	-60K	-107K	-13K	0	-2K	-79K	-130K	0
Stock Issued	53K	56K	19K	0	44K	22K	72K	0	0	0
Net Stock Activity	-	-	-	-	-	-	-	-	-	-
Debt Issuance (Net)	-1000K	1000K	-14K	-1000K	1000K	-1000K	1000K	1000K	1000K	1000K
Other Financing	8.34M	37.31M	49.93M	59.2M	37.26M	250.28M	100.51M	106.83M	103.69M	-136.71M
Net Change in Cash+	-23.78M	21.31M	-767K	-1.22M	13.85M	71.64M	-56.85M	-28.04M	39.78M	-61.83M
Exchange Rate Effect	0	0	0	0	0	0	0	0	0	0
Cash at Beginning	41.74M	17.96M	39.27M	38.51M	37.29M	51.13M	122.77M	65.92M	37.88M	77.67M
Cash at End	17.96M	39.27M	38.51M	37.29M	51.13M	122.77M	65.92M	37.88M	77.67M	15.84M
Interest Paid	2.06M	2.24M	2.25M	3.48M	5.15M	5.71M	3.45M	4.39M	17.96M	0
Income Taxes Paid	2.04M	1.5M	1.52M	1.55M	800K	1.35M	1.85M	950K	925K	0
Free Cash Flow+	10.84M	5.71M	7.88M	13.69M	5.23M	-8.07M	25.68M	28.37M	7.25M	11.08M
FCF Growth %	317.85%	-0.47%	0.38%	0.74%	-0.62%	-2.54%	4.18%	0.1%	-0.74%	0.53%

Banking Ratios

Metric	2015	2016	2017	2018	2019	2020	2021	2022	2023	2024
Return on Equity (ROE)	15.01%	15.52%	14.7%	11.47%	15.62%	16.77%	15.94%	18.08%	18.6%	13.25%
Return on Assets (ROA)	1.26%	1.29%	1.18%	0.91%	1.27%	1.3%	1.15%	0.99%	0.8%	0.58%
Net Interest Margin	3.67%	3.57%	3.57%	3.53%	3.45%	2.88%	2.96%	2.95%	2.55%	2.47%
Efficiency Ratio	61.6%	63.34%	61.53%	69.79%	58.6%	56.55%	62.25%	62.28%	52.13%	48.11%
Equity / Assets	8.52%	8.11%	7.89%	8.01%	8.23%	7.39%	7%	4.13%	4.47%	4.35%
Book Value / Share	12.04	12.59	13.16	14.41	16.03	18	18.71	12.23	14.5	14.6
NII Growth	1.98%	6.95%	7.76%	7.04%	5.83%	4.58%	13.28%	10.38%	-4.61%	0.65%
Dividend Payout	61.13%	58.03%	60.97%	75.34%	51.66%	44.43%	44.62%	49.43%	56.99%	73.55%

Frequently Asked Questions

Valuation & Price

Union Bankshares, Inc. (UNB) has a price-to-earnings (P/E) ratio of 12.9x. This may indicate the stock is undervalued or faces growth challenges.

Growth & Financials

Union Bankshares, Inc. (UNB) grew revenue by 15.6% over the past year. This is strong growth.

Yes, Union Bankshares, Inc. (UNB) is profitable, generating $11.3M in net income for fiscal year 2024 (11.5% net margin).

Dividend & Returns

Yes, Union Bankshares, Inc. (UNB) pays a dividend with a yield of 5.70%. This makes it attractive for income-focused investors.

Union Bankshares, Inc. (UNB) has a return on equity (ROE) of 13.2%. This is reasonable for most industries.

Industry Metrics

Union Bankshares, Inc. (UNB) has a net interest margin (NIM) of 2.5%. NIM has been under pressure due to interest rate environment.

Union Bankshares, Inc. (UNB) has an efficiency ratio of 48.1%. This is excellent, indicating strong cost control.

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