Union Bankshares, Inc. announced on October 16, 2025 that its consolidated net income for the third quarter ended September 30, 2025 was $3.4 million, a 160% increase from the $1.3 million reported for the same period in 2024. For the nine‑month period ending September 30, 2025, net income rose to $8.3 million from $5.8 million in 2024, reflecting continued growth in loan and investment activity.
Net interest income for Q3 2025 reached $11.2 million, up $1.7 million (18.3%) from $9.4 million in 2024, while non‑interest income increased to $3.4 million from $2.9 million. Credit‑loss expense fell to $313 k from $425 k, and the company recorded a $1.3 million gain from the sale of lower‑yielding available‑for‑sale securities, offsetting the prior year’s loss.
On the balance‑sheet side, total assets grew to $1.57 billion from $1.52 billion, driven by a 5.1% rise in loans to $1.18 billion and a 6.4% increase in investment securities to $262.4 million. Deposits expanded to $1.19 billion, and borrowed funds stood at $270.8 million, while book value per share climbed to $16.95 from $15.98.
The board declared a quarterly cash dividend of $0.36 per share, payable November 6, 2025 to shareholders of record as of October 25, 2025. President & CEO David S. Silverman highlighted the company’s disciplined asset growth, prudent expense management, and resilient loan portfolio as key drivers of the earnings expansion.
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