Union Bankshares Inc. reports Q3 net income of $3.4 million
Union Bankshares Inc. reported consolidated net income of $3.4 million for the third quarter of 2025 and $8.3 million for the nine months ended September 30, 2025, compared to $1.3 million and $5.8 million, respectively, for the same periods in 2024. Net interest income rose 18.3% to $11.2 million. Interest income increased 11.7% to $19.2 million, while interest expense rose 3.7% to $8.1 million. Noninterest income was $3.4 million, and noninterest expenses increased 9.9% to $10.3 million. Total assets reached $1.57 billion, up from $1.52 billion a year earlier. Loans grew 5.1% to $1.18 billion, and investment securities rose 6.4% to $262.4 million. Total deposits were $1.19 billion, including $65.3 million in brokered deposits. Federal Home Loan Bank advances totaled $270.8 million, up from $230.7 million last year. Shareholders' equity increased, with book value per share up 6.1% to $16.95 and retained earnings up 5.3% to $95.1 million. The Board of Directors declared a cash dividend of $0.36 per share, payable November 6, 2025, to shareholders of record as of October 25, 2025.
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