The bank maintains a stable equity-to-assets ratio of 0.05, though the reliance on a $1.6 billion securities portfolio against $1.6 billion in total assets indicates significant duration exposure.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 |
|---|
| Cash & Short Term Investments | 341.82M | 12.3M | 188.92M | 283.5M | 271.2M | 285.67M | 123.88M | 99.36M | 86.75M | 78.65M | 79.33M | 71.08M | 62.82M | 57.12M | 47.58M | 72.84M | 19.49M | 27.92M | 19.58M | 24.68M | 17.11M | 22.62M | 24.44M | 30.24M | 21.36M | 18.63M | 12.07M | 15.1M | 19.2M |
| Cash & Due from Banks | 4.5M | 4.66M | 14.63M | 19.12M | 20.93M | 17.86M | 18.11M | 11.97M | 13.35M | 13.21M | 13.78M | 16.97M | 17.07M | 22.84M | 26.95M | 29.89M | 19.49M | 27.92M | 19.58M | 24.68M | 17.11M | 22.62M | 24.44M | 30.24M | 21.36M | 18.63M | 12.07M | 15.1M | 19.2M |
| Short Term Investments | 0 | 7.64M | 174.29M | 264.38M | 250.27M | 267.82M | 105.76M | 87.39M | 73.41M | 65.44M | 65.56M | 54.11M | 45.75M | 34.28M | 20.63M | 42.95M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Total Investments | 1.55B | 1.52B | 1.41B | 1.29B | 1.2B | 1.06B | 901.75M | 760.69M | 718.57M | 659.55M | 605.83M | 563.15M | 542.17M | 509.09M | 480.58M | 476.58M | 404.94M | 379.32M | 377.59M | 348.64M | 337.79M | 336.41M | 317.97M | 312.9M | 298.82M | 297.75M | 278.57M | 266.92M | 258.21M |
| Investments Growth % | 22.4% | 7.8% | 8.92% | 7.36% | 13.34% | 17.79% | 18.54% | 5.86% | 8.95% | 8.87% | 7.58% | 3.87% | 6.5% | 5.93% | 0.84% | 17.69% | 6.75% | 0.46% | 8.3% | 3.21% | 0.41% | 5.8% | 1.62% | 4.71% | 0.36% | 6.89% | 4.36% | 3.38% | - |
| Long-Term Investments | 5.34B | 1.51B | 1.23B | 1.03B | 953.6M | 794.38M | 795.99M | 673.3M | 645.16M | 594.12M | 540.28M | 509.05M | 496.42M | 474.81M | 459.95M | 433.63M | 404.94M | 379.32M | 377.59M | 348.64M | 337.79M | 336.41M | 317.97M | 312.9M | 298.82M | 297.75M | 278.57M | 266.92M | 258.21M |
| Accounts Receivables | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 2.81M | 2.5M | 2.26M | 1.83M | 1.85M | 1.66M | 1.54M | 1.81M | 1.56M | 1.63M | 1.94M | 2.08M | 2M | 1.97M | 1.53M | 1.65M | 1.89M | 2.04M | 2.6M | 2.2M | 2.11M |
| Goodwill & Intangibles | 0 | 0 | 1.7M | 1.7M | 2M | 2.5M | 2.22M | 2.22M | 2.63M | 2.81M | 2.98M | 3.15M | 3.32M | 3.49M | 3.66M | 3.83M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Goodwill | 0 | 0 | 0 | 0 | 0 | 0 | 2.22M | 2.22M | 2.22M | 2.22M | 2.22M | 2.22M | 2.22M | 2.22M | 2.22M | 2.22M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 0 | 0 | 1.7M | 1.7M | 2M | 2.5M | 0 | 0 | 412K | 583K | 754K | 925K | 1.1M | 1.27M | 1.44M | 1.61M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| PP&E (Net) | 19.6M | 19.85M | 20.23M | 23.22M | 20.48M | 21.61M | 20.04M | 20.92M | 16.07M | 14.26M | 13.53M | 13.05M | 11.85M | 10.68M | 10.29M | 9.16M | 7.84M | 7.61M | 7.46M | 6.46M | 6.08M | 5.9M | 5.12M | 4.45M | 4.61M | 4.16M | 3.96M | 4.07M | 5.1M |
| Other Assets | 42.39M | 75.23M | 84.12M | 121.23M | 89.22M | 101.2M | 151.43M | 77.11M | 52.32M | 53.51M | 53.01M | 30.72M | 47.79M | 37.69M | 54.25M | 31.47M | 19.16M | 29.23M | 33.53M | 11.5M | 18.17M | 7.85M | 10.47M | 7.41M | 16.8M | 14.9M | 6.26M | 7.18M | 5.52M |
| Total Current Assets | 12.08M | 12.3M | 188.92M | 283.5M | 271.2M | 285.67M | 123.88M | 99.36M | 89.56M | 81.15M | 81.59M | 72.91M | 64.68M | 58.78M | 49.11M | 74.66M | 21.05M | 31.35M | 21.52M | 26.76M | 19.11M | 24.59M | 25.97M | 31.89M | 23.25M | 20.66M | 14.67M | 17.3M | 21.3M |
| Total Non-Current Assets | 1.61B | 1.6B | 1.34B | 1.19B | 1.07B | 919.7M | 969.68M | 773.55M | 715.77M | 664.68M | 609.79M | 555.97M | 559.39M | 526.66M | 528.14M | 478.1M | 431.95M | 416.17M | 418.58M | 366.6M | 362.04M | 350.16M | 333.56M | 324.76M | 320.24M | 316.81M | 288.8M | 278.17M | 268.83M |
| Total Assets | 1.63B | 1.62B | 1.53B | 1.47B | 1.34B | 1.21B | 1.09B | 872.91M | 805.34M | 745.75M | 691.47M | 628.88M | 623.85M | 584.92M | 577.26M | 552.75M | 454.08M | 447.52M | 440.1M | 393.36M | 381.15M | 374.75M | 359.53M | 356.65M | 343.49M | 337.48M | 303.39M | 295.48M | 290.13M |
| Asset Growth % | 21.83% | 5.81% | 3.89% | 10.08% | 10.88% | 10.23% | 25.28% | 8.39% | 7.99% | 7.85% | 9.95% | 0.81% | 6.65% | 1.33% | 4.43% | 21.73% | 1.47% | 1.69% | 11.88% | 3.2% | 1.71% | 4.23% | 0.81% | 3.83% | 1.78% | 11.23% | 2.68% | 1.84% | - |
| Return on Assets (ROA) | 0.74% | 0.71% | 0.58% | 0.8% | 0.99% | 1.15% | 1.3% | 1.27% | 0.91% | 1.18% | 1.29% | 1.26% | 1.27% | 1.23% | 1.21% | 1.04% | 1.24% | 1.18% | 1.23% | 1.46% | 1.66% | 1.7% | 1.63% | 1.54% | 1.52% | 1.51% | 1.6% | 1.39% | 1.57% |
| Accounts Payable | 0 | 0 | 0 | 0 | 13.15M | 9.78M | 11.22M | 9.88M | 6.25M | 8.02M | 5.85M | 5.34M | 5.45M | 4.05M | 6.47M | 4.28M | 0 | 0 | 0 | 5.75M | 3.49M | 3.49M | 2.59M | 3.06M | 0 | 0 | 0 | 0 | 0 |
| Total Debt | 327.3M | 302.79M | 275.97M | 81.94M | 66.2M | 16.17M | 7.16M | 47.16M | 27.82M | 31.58M | 32.69M | 11.19M | 17M | 14.61M | 19.74M | 29.02M | 28.99M | 30.99M | 27.42M | 20.33M | 14.6M | 16.26M | 7.93M | 7.22M | 7.54M | 10.34M | 6.38M | 2.87M | 6.08M |
| Net Debt | 322.8M | 298.13M | 261.34M | 62.82M | 45.27M | -1.68M | -10.95M | 35.19M | 14.48M | 18.37M | 18.92M | -5.78M | -74K | -8.23M | -7.21M | -876K | 9.5M | 3.08M | 7.83M | -4.36M | -2.52M | -6.36M | -16.5M | -23.01M | -13.83M | -8.28M | -5.62M | -12.23M | -13.11M |
| Long-Term Debt | 287.3M | 302.79M | 275.97M | 81.94M | 66.2M | 16.17M | 7.16M | 47.16M | 27.82M | 31.58M | 31.59M | 9.56M | 15.12M | 13.22M | 15.75M | 29.02M | 28.99M | 30.99M | 27.42M | 20.33M | 14.6M | 16.26M | 7.93M | 5.98M | 7.54M | 10.34M | 6.38M | 2.87M | 6.08M |
| Short-Term Debt | 40M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.1M | 1.62M | 1.88M | 1.39M | 3.99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.24M | 0 | 0 | 0 | 0 | 0 |
| Other Liabilities | 1.22B | 1.01B | 17.02M | 15.53M | 0 | 0 | 0 | 0 | 0 | 0 | -1.1M | -1.62M | -1.88M | -1.39M | -3.99M | 1.4M | 2.45M | 3.05M | 5.23M | 1.25M | 1.32M | 95.41K | 0 | 0 | 3.78M | 4.19M | 3.12M | 0 | 3.37M |
| Total Current Liabilities | 40M | 226.94M | 1.17B | 1.31B | 1.22B | 1.1B | 1.01B | 753.9M | 713.02M | 655.59M | 604.61M | 567.37M | 559.39M | 523.8M | 520.45M | 482M | 379.83M | 372.3M | 368.31M | 329.71M | 323.31M | 316.79M | 309.19M | 309.68M | 293M | 285.72M | 258.74M | 260.38M | 248.92M |
| Total Non-Current Liabilities | 1.5B | 1.31B | 292.98M | 97.47M | 66.2M | 16.17M | 7.16M | 47.16M | 27.82M | 31.58M | 30.5M | 7.94M | 13.24M | 11.83M | 11.76M | 30.41M | 31.44M | 34.04M | 32.65M | 21.58M | 15.91M | 16.26M | 7.93M | 5.98M | 11.32M | 14.54M | 9.5M | 2.87M | 9.45M |
| Total Liabilities | 1.54B | 1.54B | 1.46B | 1.41B | 1.28B | 1.12B | 1.01B | 801.07M | 740.85M | 686.92M | 635.37M | 575.31M | 571.87M | 538.12M | 532.21M | 512.41M | 411.27M | 406.34M | 400.95M | 351.29M | 339.23M | 333.14M | 317.13M | 315.66M | 304.32M | 300.26M | 268.24M | 263.26M | 258.37M |
| Total Equity | 80.56M | 80.86M | 66.48M | 65.81M | 55.22M | 84.34M | 80.87M | 71.84M | 64.49M | 58.82M | 56.1M | 53.57M | 51.43M | 49.82M | 45.05M | 40.34M | 41.73M | 41.18M | 39.15M | 42.07M | 41.92M | 41.6M | 42.4M | 40.99M | 39.17M | 37.22M | 35.16M | 32.22M | 31.76M |
| Equity Growth % | 55.31% | 21.64% | 1.02% | 19.17% | -34.53% | 4.3% | 12.56% | 11.4% | 9.64% | 4.85% | 4.73% | 4.15% | 3.24% | 10.6% | 11.67% | -3.32% | 1.32% | 5.18% | -6.95% | 0.36% | 0.77% | -1.89% | 3.46% | 4.64% | 5.25% | 5.85% | 9.12% | 1.44% | - |
| Equity / Assets (Capital Ratio) | 4.96% | 5% | 4.35% | 4.47% | 4.13% | 7% | 7.39% | 8.23% | 8.01% | 7.89% | 8.11% | 8.52% | 8.24% | 8.52% | 7.8% | 7.3% | 9.19% | 9.2% | 8.9% | 10.7% | 11% | 11.1% | 11.79% | 11.49% | 11.4% | 11.03% | 11.59% | 10.9% | 10.95% |
| Return on Equity (ROE) | 14.94% | 15.06% | 13.25% | 18.6% | 18.08% | 15.94% | 16.77% | 15.62% | 11.47% | 14.7% | 15.52% | 15.01% | 15.2% | 15.04% | 16.03% | 12.72% | 13.48% | 13.01% | 12.57% | 13.46% | 14.98% | 14.85% | 13.99% | 13.44% | 13.57% | 13.35% | 14.25% | 12.74% | 14.33% |
| Book Value per Share | 17.47 | 17.68 | 14.60 | 14.50 | 12.23 | 18.71 | 18.00 | 16.03 | 14.41 | 13.16 | 12.59 | 12.04 | 11.56 | 11.17 | 10.14 | 9.05 | 9.36 | 9.22 | 8.72 | 9.31 | 9.25 | 9.14 | 9.30 | 8.98 | 8.62 | 8.16 | 7.72 | 7.12 | 7.03 |
| Tangible BV per Share | 17.47 | 17.68 | 14.22 | 14.13 | 11.79 | 18.15 | 17.50 | 15.54 | 13.82 | 12.53 | 11.92 | 11.33 | 10.82 | 10.39 | 9.31 | 8.19 | 9.36 | 9.22 | 8.72 | 9.31 | 9.25 | 9.14 | 9.30 | 8.98 | 8.62 | 8.16 | 7.72 | 7.12 | 7.03 |
| Common Stock | 10.17M | 10.17M | 10.02M | 9.99M | 9.96M | 9.93M | 9.91M | 9.9M | 9.89M | 9.88M | 9.87M | 9.86M | 9.86M | 9.86M | 9.85M | 9.85M | 9.84M | 9.84M | 9.84M | 9.84M | 9.84M | 9.84M | 9.83M | 9.82M | 6.54M | 6.54M | 6.53M | 6.53M | 6.52M |
| Additional Paid-in Capital | 4.82M | 4.61M | 3.03M | 2.62M | 2.23M | 1.77M | 1.39M | 1.12M | 894K | 755K | 620K | 501K | 418K | 363K | 295K | 276K | 244.36K | 219.33K | 207.68K | 202.4K | 150.15K | 139.86K | 106.99K | 54.58K | 318K | 277.25K | 239.9K | 238.35K | 211.39K |
| Retained Earnings | 97.59M | 96.25M | 91.72M | 89.47M | 84.67M | 78.35M | 71.1M | 64.02M | 58.91M | 57.2M | 53.09M | 49.52M | 46.46M | 43.41M | 40.77M | 38.38M | 37.62M | 36.49M | 35.87M | 35.79M | 35.2M | 33.76M | 33.81M | 32.07M | 33.36M | 31.63M | 30.01M | 28.18M | 26.03M |
| Accumulated OCI | -27.75M | -25.88M | -34M | -31.95M | -37.42M | -1.55M | 2.64M | 986K | -1.02M | -5.1M | -3.28M | -2.3M | -1.38M | 77K | -2.01M | -4.35M | -2.16M | -1.65M | -3.27M | -824K | -1M | -97.95K | 377.29K | 760.65K | 674.28K | 494.42K | -28.46K | -1.13M | 595.13K |
| Treasury Stock | -4.27M | -4.28M | -4.3M | -4.32M | -4.22M | -4.16M | -4.17M | -4.18M | -4.18M | -4.08M | -4.02M | -4.02M | -3.92M | -3.88M | -3.86M | -3.82M | -3.82M | -3.72M | -3.5M | -2.94M | -2.26M | -2.04M | -1.72M | -1.72M | -1.72M | -1.72M | -1.59M | -1.59M | -1.59M |
| Preferred Stock | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Localized economic concentration risk
According to the provided financial data, UNB's total assets have expanded from $1.4 billion in 2024Q1 to $1.6 billion by 2026Q1, a trend primarily fueled by an increase in the investment securities portfolio rather than aggressive expansion of the core loan book.
The reliance on securities growth suggests a conservative approach to balance sheet management, potentially reflecting a lack of high-quality loan demand in the bank's rural Vermont and New Hampshire footprint. Investors should monitor whether this asset mix shift is a temporary liquidity parking strategy or a long-term pivot away from traditional lending.
As reported in the bank's quarterly filings, the equity-to-assets ratio has remained remarkably consistent at 0.05 over the last ten quarters, indicating that management is maintaining a stable capital buffer despite the recent expansion in the bank's total asset base.
This stability suggests a disciplined approach to capital retention, though it may also imply that the bank is not leveraging its equity base to drive higher returns. The current capital position appears adequate for a community bank, but it may limit the capacity for significant inorganic growth or aggressive share buybacks.
Based on the balance sheet figures, UNB holds approximately $1.6 billion in investment securities against $1.6 billion in total assets as of 2026Q1, highlighting a heavy reliance on the securities portfolio as the primary source of liquidity and interest-bearing assets.
This concentration in securities rather than loans suggests that the bank's liquidity profile is highly sensitive to market interest rate fluctuations and the duration of its bond holdings. Such a structure may provide stability in a volatile credit environment but could also constrain the bank's ability to capture higher yields available in the commercial lending market.
As evidenced by the 2026Q1 balance sheet, the near-total alignment of total assets with investment securities suggests that UNB's business model is currently functioning more like a bond fund than a traditional commercial lender, which warrants further investigation into potential duration mismatches.
If the bank's funding costs rise faster than the yields on its long-dated securities portfolio, the net interest margin could face significant downward pressure. This structural reliance on securities may mask underlying weaknesses in the bank's ability to originate and retain high-quality, relationship-based commercial loans.
Quick answers to the most common questions about buying UNB stock.
As of 2025, Union Bankshares, Inc. (UNB) had total assets of $1.62B including $12.3M in current assets.
Union Bankshares, Inc. (UNB) carries total debt of $302.8M. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Union Bankshares, Inc. (UNB) has total shareholders' equity (book value) of $80.9M ($17.68 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Union Bankshares, Inc. (UNB) reported a current ratio of 0.05x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.