Union Bankshares Declares $0.36 Quarterly Dividend
Union Bankshares, Inc. (NASDAQ: UNB), a Vermont-based bank holding company, declared a quarterly cash dividend of $0.36 per share. The dividend will be paid May 7, 2026 to shareholders of record as of April 27, 2026.
Union Bankshares, Inc. (NASDAQ: UNB), a bank holding company operating commercial and retail banking services in northern Vermont and New Hampshire, declared a quarterly cash dividend of $0.36 per share for the quarter ended March 31, 2026. Read more dividend announcements.
The dividend will be paid May 7, 2026 to shareholders of record as of April 27, 2026. The company did not disclose an ex-dividend date.
| Dividend Details | Date |
|---|---|
| Amount per Share | $0.36 |
| Record Date | April 27, 2026 |
| Payment Date | May 7, 2026 |
| Ex-Dividend Date | Not disclosed |
First Quarter Performance
The Morrisville, Vermont-based company reported consolidated net income of $3.0 million, or $0.65 per share, for the three months ended March 31, 2026, compared to $2.5 million, or $0.55 per share, in the same period a year earlier. The 18% increase in earnings per share reflected improved net interest income and a shift from credit loss expense to a credit loss benefit.
Net interest income rose $1.0 million, or 10.0%, driven by higher yields on earning assets that outpaced increased funding costs. The company recorded a credit loss benefit of $325,000 for the quarter, compared to credit loss expense of $235,000 in the prior-year period, primarily due to changes in the size and mix of the loan portfolio.
Balance Sheet Growth
Total assets reached $1.63 billion as of March 31, 2026, up $100.3 million, or 6.6%, from $1.52 billion a year earlier. The increase was driven by growth in Federal funds sold and the securities portfolio.
Investment securities increased to $315.6 million from $249.6 million, a 26.4% increase of $66.0 million, reflecting a strategic decision to pre-invest future cash flows during the fourth quarter of 2025. Federal funds sold and overnight deposits totaled $25.3 million, compared to $8.9 million in the prior-year period.
Noninterest income was $2.5 million for the quarter, compared to $2.4 million a year earlier. Sales of qualifying residential mortgages generated net gains of $350,000, compared to $389,000 in the prior-year quarter.
Noninterest expenses increased $958,000, or 9.8%, to $10.8 million, primarily due to higher salaries and wages of $486,000, increased employee benefits of $184,000, and other expense increases totaling $293,000.
Union Bankshares operates 18 banking offices, three loan centers, and multiple ATMs throughout northern Vermont and New Hampshire through its subsidiary Union Bank, which has served the region since 1891.