UNB

MORRISVILLE, Vt., July 15, 2026 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three and six months ended June 30, 2026 and declared a regular quarterly cash dividend. Consolidated net income for the three months ended June 30, 2026 was $2.9 million, or $0.61 per share, compared to $2.4 million, or $0.53 per share, for the same period in 2025, and $5.9 million, or $1.26 per share, for the six months ended June 30, 2026, compared to $4.9 million, or $1.08 per share, for the same period in 2025. President and Chief Executive Officer Jeffrey F. Weidley commented on the results: "Union Bankshares delivered strong second quarter and year-to-date results, reflecting the strength of our balance sheet, disciplined execution, and the dedication of our employees. Growth in net interest income, improved earnings, and continued increases in book value demonstrate the resilience of our community banking model. As we embark on an important leadership transition, I am confident that Union Bank is exceptionally well-positioned for the future, supported by a talented management team, strong asset quality, and a steadfast commitment to serving the individuals, businesses, and communities that have placed their trust in us." Balance SheetTotal assets reached $1.56 billion as of June 30, 2026 from $1.48 billion as of June 30, 2025 representing growth of $78.4 million, or 5.3%. The increase was driven by an increases in the securities and loan portfolios. Investment securities increased to $308.0 million as of June 30, 2026 compared to $242.4 million as of June 30, 2025, an increase of $65.6 million, or 27.0%, due to a strategic decision to pre-invest future cash flows from the portfolio during the fourth quarter of 2025. Total loan growth was modest during the comparison periods at $14.0 million with outstanding balances of $1.12 billion as of  June 30, 2026. Sales of qualifying mortgage loans were $56.9 million for the six months ended June 30, 2026 compared to $56.8 million for the six months ended June 30, 2025. The allowance for credit losses on loans was $8.4 million as of June 30, 2026 compared to $8.3 million as of June 30, 2025. Asset quality remains strong and management continues to assess credit risk exposure and adjusts reserves as needed. Management believes the current credit loss expense is appropriate given the composition and performance of the loan portfolio, and continues to monitor macroeconomic indicators that may impact borrower behavior and repayment capacity. Total deposits were $1.09 billion as of June 30, 2026 compared to $1.10 billion as of June 30, 2025, and included purchased brokered deposits of $43.8 million as of June 30, 2026 and $65.3 million as of June 30, 2025. Borrowed funds were $337.1 million as of June 30, 2026 and consisted of Federal Home Loan Bank advances of $316.1 million and Federal Reserve borrowings of $21.0 million compared to Federal Home Loan Bank advances of $270.7 million as of June 30, 2025. Stockholders' equity increased to $90.4 million as of June 30, 2026 compared to $71.3 million as of June 30, 2025, resulting in an increase in book value per share of 16.7% to $18.28 as of June 30, 2026 compared to $15.66 as of June 30, 2025. These increases are due in part to sales of common stock in accordance with the equity distribution agreement previously announced on May 20, 2025. Through June 30, 2026, 384,066 shares of the Company's stock have been sold resulting in net proceeds, after expenses, of $8.6 million. Accumulated other comprehensive loss as it relates to the fair market value adjustment for investment securities as of June 30, 2026 was $27.0 million compared to $31.2 million as of June 30, 2025 which also contributed to the improvement in book value per share. Income StatementConsolidated net income was $2.9 million for the three months ended June 30, 2026, compared to $2.4 million for the same period in 2025. Results increased $529 thousand for the comparison periods due to increases of $1.2 million net interest income and $484 thousand in noninterest income, and a decrease of $46 thousand in credit loss expense, partially offset by increases of $976 thousand in noninterest expenses and $199 thousand in income tax expense. Interest income was $20.1 million for the three months ended June 30, 2026 compared to $18.7 million for the three months ended June 30, 2025, an increase of $1.3 million, or 7.1%. The increase is attributable to a larger earning asset base and higher interest rates on those assets. Interest expense increased $162 thousand, or 2.0%, to $8.4 million for the three months ended June 30, 2026 compared to $8.3 million for the three months ended June 30, 2025. These changes resulted in improvement in net interest income of $1.2 million, or 11.2%, for the comparison periods. Credit loss expense of $175 thousand was recorded for the three months ended June 30, 2026 compared to credit loss expense of $221 thousand for the three months ended June 30, 2025. The reduction in credit loss expense during the comparison periods was primarily related to the size and mix of the loan portfolio and unfunded commitments at June 30, 2026. Noninterest income was $3.2 million for the second quarter of 2026 compared to $2.8 million for the same period in 2025. There was a one-time gain of $380 thousand recognized on the sale of a branch property during the second quarter of 2026. Sales of qualifying residential mortgages resulted in net gains of $490 thousand for the three months ended June 30, 2026 compared to net gains of $480 thousand for the three months ended June 30, 2025. Noninterest expenses increased $976 thousand, or 9.3%, to $11.5 million for the three months ended June 30, 2026 compared to $10.5 million for the three months ended June 30, 2025. The increase during the comparison periods was due to increases of $831 thousand in salaries and wages, $35 thousand in equipment expenses, and $184 thousand in other expenses, partially offset by a decrease of $74 thousand in employee benefits. Income tax expense was $301 thousand for the three months ended June 30, 2026, an increase of $199 thousand compared to $102 thousand for the three months ended June 30, 2025. Dividend DeclaredThe Board of Directors declared a cash dividend of $0.36 per share for the quarter payable August 6, 2026 to shareholders of record as of July 27, 2026. David S. Silverman, former President and Chief Executive Officer and Chair of the Board, added: "After more than four decades with Union Bank, it is especially gratifying to see the Company continue to perform at a high level while remaining true to its core values and mission. Throughout my career, I have been privileged to work alongside dedicated employees, outstanding directors, and loyal customers who have all contributed to Union Bank's success. As I transition from my role as Chief Executive Officer to Chair of the Board, I do so with great confidence in Jeff Weidley's leadership, our experienced management team, and the Company's future. Union Bank remains financially strong, deeply committed to the communities it serves, and well-positioned to continue its tradition of independent community banking for generations to come." About Union Bankshares, Inc.Union Bankshares, Inc., headquartered in Morrisville, Vermont, is the bank holding company parent of Union Bank, which provides commercial, retail, and municipal banking services, as well as, wealth management services throughout northern Vermont and New Hampshire. Union Bank operates 18 banking offices, three loan centers, and multiple ATMs throughout its geographical footprint. Since 1891, Union Bank has helped people achieve their dreams of owning a home, saving for retirement, starting or expanding a business and assisting municipalities to improve their communities. Union Bank has earned an exceptional reputation for residential lending programs and has been recognized by the US Department of Agriculture, Rural Development for the positive impact made in lives of low to moderate home buyers. Union Bank is consistently one of the top Vermont Housing Finance Agency mortgage originators and has also been designated as an SBA Preferred lender for its participation in small business lending. Union Bank's employees contribute to the communities where they work and reside, serving on non-profit boards, raising funds for worthwhile causes, and giving countless hours in serving our fellow residents. All of these efforts have resulted in Union receiving and "Outstanding" rating for its compliance with the Community Reinvestment Act ("CRA") in its most recent examination. Union Bank is proud to be one of the few independent community banks serving Vermont and New Hampshire and we maintain a strong commitment to our core traditional values of keeping deposits safe, giving customers convenient financial choices and making loans to help people in our local communities buy homes, grow businesses, and create jobs. These values--combined with financial expertise, quality products and the latest technology--make Union Bank the premier choice for your banking services, both personal and business. Member FDIC. Equal Housing Lender. Forward-Looking StatementsStatements made in this press release that are not historical facts are forward-looking statements. Investors are cautioned that all forward-looking statements necessarily involve risks and uncertainties, and many factors could cause actual results and events to differ materially from those contemplated in the forward-looking statements. When we use any of the words “believes,” “expects,” “anticipates” or similar expressions, we are making forward-looking statements. The following factors, among others, could cause actual results and events to differ from those contemplated in the forward-looking statements: uncertainties associated with general economic conditions; changes in the interest rate environment; inflation; political, legislative or regulatory developments; acts of war or terrorism; the markets' acceptance of and demand for the Company's products and services; technological changes, including the impact of the internet on the Company's business and on the financial services market place generally; the impact of competitive products and pricing; and dependence on third party suppliers. For further information, please refer to the Company's reports filed with the Securities and Exchange Commission at www.sec.gov or on our investor page at www.ublocal.com. Contact: Investor Relations(802) 888-0982

MORRISVILLE, Vt., April 15, 2026 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three months ended March 31, 2026 and declared a regular quarterly cash dividend. Consolidated net income for the three months ended March 31, 2026 was $3.0 million, or $0.65 per share, compared to $2.5 million, or $0.55 per share, for the same period in 2025. Balance Sheet Total assets reached $1.63 billion as of March 31, 2026 from $1.52 billion as of March 31, 2025 representing growth of $100.3 million, or 6.6%. The increase was driven by increases in Federal funds sold and the securities portfolio. Federal funds sold and overnight deposits were $25.3 million as of March 31, 2026 compared to $8.9 million as of March 31, 2025. Investment securities increased to $315.6 million as of March 31, 2026 compared to $249.6 million as of March 31, 2025, an increase of $66.0 million, or 26.4% due to a strategic decision to pre-invest future cash flows from the portfolio during the fourth quarter of 2025. Total loan growth was modest during the comparison periods at $15.8 million or 1.3%, with outstanding balances of $1.18 billion as of March 31, 2026. Sales of qualifying mortgage loans were $24.1 million for the three months ended March 31, 2026 compared to $25.8 million for the three months ended March 31, 2025. The allowance for credit losses on loans decreased 0.5%, to $8.07 million as of March 31, 2026 compared to $8.11 million as of March 31, 2025. Asset quality remains strong and management continues to assess credit risk exposure and adjusts reserves as needed. Management believes the current credit loss expense is appropriate given the composition and performance of the loan portfolio, and continues to monitor macroeconomic indicators that may impact borrower behavior and repayment capacity. Total deposits were $1.20 billion as of March 31, 2026 compared to $1.81 billion as of March 31, 2025, and included purchased brokered deposits of $31.8 million as of March 31, 2026 and $30.5 million as of March 31, 2025. Borrowed funds consisted of Federal Home Loan Bank advances of $311.0 million as of March 31, 2026 compared to $240.7 million as of March 31, 2025. Stockholders' equity increased to $80.6 million as of March 31, 2026 compared to $70.1 million as of March 31, 2025, resulting in an increase in book value per share of 13.1% to $17.46 as of March 31, 2026 compared to $15.44 as of March 31, 2025. Accumulated other comprehensive loss as it relates to the fair market value adjustment for investment securities as of March 31, 2026 was $27.7 million compared to $31.4 million as of March 31, 2025 which also contributed to the improvement in book value per share. Income Statement Consolidated net income was $3.0 million for the three months ended March 31, 2026, compared to $2.5 million for the same period in 2025. Results increased $503 thousand for the comparison periods due to increases of $1.0 million net interest income and $54 thousand in noninterest income, and a decrease of $560 thousand in credit loss expense, partially offset by increases of $958 thousand in noninterest expenses and $178 thousand in income tax expense. Interest income was $19.5 million for the three months ended March 31, 2026 compared to $18.3 million for the three months ended March 31, 2025, an increase of $1.2 million, or 6.8%. The increase is attributable to a larger earning asset base and higher interest rates on those assets. Interest expense increased $210 thousand, or 2.6%, to $8.2 million for the three months ended March 31, 2026 compared to $8.0 million for the three months ended March 31, 2025 The increase is primarily due to increases in volume for customer deposits and borrowed funds and to a lesser extent an increase in average rates paid on these funding sources. These changes resulted in improvement in net interest income of $1.0 million, or 10.0% for the comparison periods. Credit loss benefit of $325 thousand was recorded for the three months ended March 31, 2026 compared to credit loss expense of $235 thousand for the three months ended March 31, 2025. The reduction in credit loss expense during the comparison periods was primarily related to the size and mix of the loan portfolio at March 31, 2026. Noninterest income was $2.5 million for the three months ended March 31, 2026 compared to $2.4 million for the three months ended March 31, 2025. The sales of qualifying residential mortgages resulted in net gains of $350 thousand for the three months ended March 31, 2026 compared to net gains of $389 thousand for the three months ended March 31, 2025. Noninterest expenses increased $958 thousand, or 9.8%, to $10.8 million for the three months ended March 31, 2026 compared to $9.8 million for the three months ended March 31, 2025. The increase during the comparison periods was due to increases of $486 thousand in salaries and wages, $184 thousand in employee benefits, $61 thousand in equipment expenses, and $232 thousand in other expenses. Income tax expense was $328 thousand for the three months ended March 31, 2026, an increase of $178 thousand compared to $150 thousand for the three months ended March 31, 2025. Dividend Declared The Board of Directors declared a cash dividend of $0.36 per share for the quarter payable May 7, 2026 to shareholders of record as of April 27, 2026. About Union Bankshares, Inc. Union Bankshares, Inc., headquartered in Morrisville, Vermont, is the bank holding company parent of Union Bank, which provides commercial, retail, and municipal banking services, as well as, wealth management services throughout northern Vermont and New Hampshire. Union Bank operates 18 banking offices, three loan centers, and multiple ATMs throughout its geographical footprint. Since 1891, Union Bank has helped people achieve their dreams of owning a home, saving for retirement, starting or expanding a business and assisting municipalities to improve their communities. Union Bank has earned an exceptional reputation for residential lending programs and has been recognized by the US Department of Agriculture, Rural Development for the positive impact made in lives of low to moderate home buyers. Union Bank is consistently one of the top Vermont Housing Finance Agency mortgage originators and has also been designated as an SBA Preferred lender for its participation in small business lending. Union Bank's employees contribute to the communities where they work and reside, serving on non-profit boards, raising funds for worthwhile causes, and giving countless hours in serving our fellow residents. All of these efforts have resulted in Union receiving and "Outstanding" rating for its compliance with the Community Reinvestment Act ("CRA") in its most recent examination. Union Bank is proud to be one of the few independent community banks serving Vermont and New Hampshire and we maintain a strong commitment to our core traditional values of keeping deposits safe, giving customers convenient financial choices and making loans to help people in our local communities buy homes, grow businesses, and create jobs. These values--combined with financial expertise, quality products and the latest technology--make Union Bank the premier choice for your banking services, both personal and business. Member FDIC. Equal Housing Lender. Forward-Looking Statements Statements made in this press release that are not historical facts are forward-looking statements. Investors are cautioned that all forward-looking statements necessarily involve risks and uncertainties, and many factors could cause actual results and events to differ materially from those contemplated in the forward-looking statements. When we use any of the words “believes,” “expects,” “anticipates” or similar expressions, we are making forward-looking statements. The following factors, among others, could cause actual results and events to differ from those contemplated in the forward-looking statements: uncertainties associated with general economic conditions; changes in the interest rate environment; inflation; political, legislative or regulatory developments; acts of war or terrorism; the markets' acceptance of and demand for the Company's products and services; technological changes, including the impact of the internet on the Company's business and on the financial services market place generally; the impact of competitive products and pricing; and dependence on third party suppliers. For further information, please refer to the Company's reports filed with the Securities and Exchange Commission at www.sec.gov or on our investor page at www.ublocal.com. Contact: David S. Silverman (802) 888-6600

MORRISVILLE, Vt., Jan. 21, 2026 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ – UNB) today announced results for the three months and year ended December 31, 2025, and declared a regular quarterly cash dividend. Consolidated net income for the three months ended December 31, 2025, was $2.7 million, or $0.60 per share, compared to $3.0 million, or $0.67 per share, for the same period in 2024 and $11.1 million, or $2.43 per share for the year ended December 31, 2025 compared to $8.8 million, or $1.94 per share for the same period in 2024. Earnings for the three months and year ended December 31, 2024 were reduced by the impact of the strategic balance sheet repositioning whereby the Company’s wholly-owned subsidiary, Union Bank, executed the sale of $38.8 million in book value of its lower-yielding available-for-sale debt securities for a pre-tax realized loss of $1.3 million, which was recorded in the third quarter of 2024. Balance Sheet Total assets reached $1.62 billion as of December 31, 2025, from $1.52 billion as of December 31, 2024 representing growth of $88.8 million, or 5.8%. The increase was driven primarily by the securities and loan portfolios. Investment securities increased to $328.3 million as of December 31, 2025, compared to $252.3 million as of December 31, 2024, an increase of $76.0 million, or 30.1% due to a strategic decision to pre-invest future cash flows from the portfolio during the fourth quarter of 2025. Total loan growth was modest in 2025 at $17.9 million, or 1.5%, with outstanding balances of $1.2 billion as of December 31, 2025. Sales of qualifying mortgage loans impacted loan growth for 2025. Loan sales were $143.5 million for the year ended December 31, 2025, compared to $113.5 million for the year ended December 31, 2024. The allowance for credit losses on loans increased 9.5%, to $8.4 million as of December 31, 2025, compared to $7.7 million as of December 31, 2024. Asset quality remains strong and management continues to assess credit risk exposure and adjusts reserves as needed. Management believes the current credit loss expense is appropriate given the composition and performance of the loan portfolio and continues to monitor macroeconomic indicators that may impact borrower behavior and repayment capacity. Total deposits were $1.21 billion as of December 31, 2025, compared to $1.17 billion as of December 31, 2024, and included purchased brokered deposits of $10.2 million as of December 31, 2025 and no purchased deposits as of December 31, 2024. Borrowed funds consisted of Federal Home Loan Bank advances of $286.5 million as of December 31, 2025, compared to $259.7 million as of December 31, 2024. Stockholders’ equity strengthened with book value per share increasing 19.7% to $17.53 as of December 31, 2025, compared to $14.65 as of December 31, 2024. Retained earnings increased 4.9% to $96.2 million, and additional paid-in capital grew 52.0% to $4.6 million. These increases are due in part to sales of common stock in accordance with the equity distribution agreement previously announced on May 20, 2025. Through December 31, 2025, 56,260 shares of the Company’s stock have been sold resulting in net proceeds, after expenses, of $1.2 million. Accumulated other comprehensive loss as it relates to the fair market value adjustment for investment securities as of December 31, 2025, was $25.9 million compared to $34.0 million as of December 31, 2024, which also contributed to the improvement in book value per share. Income Statement Consolidated net income was $2.7 million for the three months ended December 31, 2025, compared to $3.0 million for the same period in 2024. The decrease in net income was attributable to an increase of $1.4 million in noninterest expenses, partially offset by increases of $706 thousand in net interest income and $127 thousand in noninterest income, and a decrease of $342 thousand in credit loss expense. Consolidated net income was $11.1 million for the year ended December 31, 2025, compared to $8.8 million for the year ended December 31, 2024, an increase of $2.3 million, or 26.5%. As mentioned above, earnings for 2024 were reduced by a pre-tax loss of $1.3 million on the sale of bonds to strategically reposition the balance sheet to improve earnings in future periods. Interest income was $75.8 million for the year ended December 31, 2025, compared to $68.0 million for the year ended December 31, 2024, an increase of $7.8 million, or 11.5%. The increase is attributable to a larger earning asset base and higher interest rates on those assets. Interest expense increased $3.2 million, or 10.7%, to $32.8 million for the year ended December 31, 2025, compared to $29.6 million for the year ended December 31, 2024. The increase is primarily due to increases in volume for customer deposits and borrowed funds and to a lesser extent an increase in average rates paid on these funding sources. These changes resulted in improvement in net interest income of $4.7 million, or 12.1% for the comparison periods. Credit loss expense of $774 thousand was recorded for the year ended December 31, 2025, compared to $930 thousand for the year ended December 31, 2024. The reduction in credit loss expense during the comparison periods was primarily related to the size and mix of the loan portfolio at both December 31, 2025, and December 31, 2024. Noninterest income was $11.5 million for the year ended December 31, 2025, compared to $11.0 million, excluding the bond sale mentioned above, for the year ended December 31, 2024. The sales of qualifying residential mortgages resulted in net gains of $2.1 million for 2025 compared to net gains of $1.7 million from 2024 sales. Noninterest expenses increased $3.7 million, or 9.7%, to $41.7 million for the year ended December 31, 2025, compared to $38.0 million for the year ended December 31, 2024. The increase during the comparison periods was due to increases of $1.8 million in salaries and wages, $763 thousand in employee benefits, $141 thousand in occupancy expenses, $389 thousand in equipment expenses, and $606 thousand in other expenses. Income tax expense was $928 thousand for the year ended December 31, 2025, an increase of $559 thousand compared to $369 thousand for the year ended December 31, 2024. David S. Silverman, President & CEO, commented: “Our 2025 results reflect the strength of our core business and our disciplined approach to managing growth in a dynamic environment. By maintaining a strong credit culture, investing thoughtfully in our balance sheet, and staying focused on the needs of our customers and communities, we continue to build sustainable momentum heading into 2026.” Dividend Declared The Board of Directors declared a cash dividend of $0.36 per share for the quarter payable February 5, 2026, to shareholders of record as of January 31, 2026. About Union Bankshares, Inc. Union Bankshares, Inc., headquartered in Morrisville, Vermont, is the bank holding company parent of Union Bank, which provides commercial, retail, and municipal banking services, as well as, wealth management services throughout northern Vermont and New Hampshire. Union Bank operates 18 banking offices, three loan centers, and multiple ATMs throughout its geographical footprint. Since 1891, Union Bank has helped people achieve their dreams of owning a home, saving for retirement, starting or expanding a business and assisting municipalities to improve their communities. Union Bank has earned an exceptional reputation for residential lending programs and has been recognized by the US Department of Agriculture, Rural Development for the positive impact made in lives of low to moderate home buyers. Union Bank is consistently one of the top Vermont Housing Finance Agency mortgage originators and has also been designated as an SBA Preferred lender for its participation in small business lending. Union Bank’s employees contribute to the communities where they work and reside, serving on non-profit boards, raising funds for worthwhile causes, and giving countless hours in serving our fellow residents. All of these efforts have resulted in Union receiving and “Outstanding” rating for its compliance with the Community Reinvestment Act (“CRA”) in its most recent examination. Union Bank is proud to be one of the few independent community banks serving Vermont and New Hampshire and we maintain a strong commitment to our core traditional values of keeping deposits safe, giving customers convenient financial choices and making loans to help people in our local communities buy homes, grow businesses, and create jobs. These values--combined with financial expertise, quality products and the latest technology--make Union Bank the premier choice for your banking services, both personal and business. Member FDIC. Equal Housing Lender. Forward-Looking Statements Statements made in this press release that are not historical facts are forward-looking statements. Investors are cautioned that all forward-looking statements necessarily involve risks and uncertainties, and many factors could cause actual results and events to differ materially from those contemplated in the forward-looking statements. When we use any of the words “believes,” “expects,” “anticipates” or similar expressions, we are making forward-looking statements. The following factors, among marketplace cause actual results and events to differ from those contemplated in the forward-looking statements: uncertainties associated with general economic conditions; changes in the interest rate environment; inflation; political, legislative or regulatory developments; acts of war or terrorism; the markets’ acceptance of and demand for the Company’s products and services; technological changes, including the impact of the internet on the Company’s business and on the financial services market place generally; the impact of competitive products and pricing; and dependence on third party suppliers. For further information, please refer to the Company’s reports filed with the Securities and Exchange Commission at www.sec.gov or on our investor page at www.ublocal.com. Contact: David S. Silverman (802) 888-6600

MORRISVILLE, Vt., Oct. 15, 2025 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three and nine months ended September 30, 2025 and declared a regular quarterly cash dividend. Consolidated net income was $3.4 million and $8.3 million for the three and nine months ended September 30, 2025, respectively, compared to $1.3 million and $5.8 million for the three and nine months ended September 30, 2024, respectively. Earnings for the three and nine months ended September 30, 2024 were reduced by the impact of the strategic balance sheet repositioning whereby the Company's wholly-owned subsidiary, Union Bank, executed the sale of $38.8 million in book value of its lower-yielding available-for-sale debt securities for a pre-tax realized loss of $1.3 million, which was recorded in the third quarter of 2024. Balance Sheet Total assets reached $1.57 billion as of September 30, 2025 from $1.52 billion as of September 30, 2024. The increase was driven primarily by loan growth, with loans increasing 5.1%, to $1.18 billion as of September 30, 2025 compared to $1.12 billion as of September 30, 2024. Investment securities also increased 6.4% to $262.4 million during the comparison period due to investment purchase activity during the period. Federal funds sold and overnight deposits declined 28.6% during the comparison period, reflecting strategic liquidity management. Despite ongoing economic uncertainty, asset quality continues to remain strong. The allowance for credit losses on loans increased 14.0% over the comparison period as a result of loan growth and proactive risk management and portfolio monitoring. The Company remains vigilant in assessing credit risk exposure and adjusting reserves as needed. Management believes the current credit loss expense is appropriate given the composition and performance of the loan portfolio, and continues to monitor macroeconomic indicators that may impact borrower behavior and repayment capacity. In addition to the balance sheet growth in loans, qualifying residential loans of $46.0 million and $102.8 million were originated and sold to the secondary market for the three and nine months ended September 30, 2025, respectively, compared to sales of $35.2 million and $76.1 million for the three and nine months ended September 30, 2024, respectively. Total deposits were $1.19 billion as of September 30, 2025 compared to $1.17 billion as of September 30, 2024, and included purchased brokered deposits of $65.3 million and $80.0 million for the respective periods. Borrowed funds consisted of Federal Home Loan Bank advances of $270.8 million as of September 30, 2025 compared to $230.7 million as of September 30, 2024. There were also $10.0 million in advances from the Federal Reserve's Bank Term Funding Program outstanding as of September 30, 2024. Stockholder's equity strengthened with book value per share rising 6.1% to $16.95 as of September 30, 2025 compared to $15.98 as of September 30, 2024. Retained earnings increased 5.3% to $95.1 million, and additional paid-in capital grew 37.1% to $4.2 million. These increases are due in part to sales of common stock in accordance with the equity distribution agreement previously announced on May 20, 2025. Through September 30, 2025, 38,834 shares of the Company's stock have been sold resulting in net proceeds, after expenses, of $801 thousand. Accumulated other comprehensive loss as it relates to the fair market value adjustment for investment securities as of September 30, 2025 was $27.5 million compared to $26.8 million as of September 30, 2024. Income Statement Consolidated net income was $3.4 million for the third quarter of 2025, compared to $1.3 million for the same period in 2024. The increase in net income was comprised of increases of $1.7 million in net interest income, $452 thousand in noninterest income, a decrease of $112 thousand in credit loss expense, and the non recurrence of the $1.3 million loss on sales of investment securities, partially offset by increases of $934 thousand in noninterest expenses and $537 in income tax expense. Net interest income was $11.2 million for the three months ended September 30, 2025 compared to $9.4 million for the three months ended September 30, 2024, an increase of $1.7 million, or 18.3%. Interest income increased $2.0 million, or 11.7%, to $19.2 million for the three months ended September 30, 2025 compared to $17.2 million for the three months ended September 30, 2024, due to an increase in yield on earning assets and an increase in volume for the comparison periods. Interest expense increased $290 thousand, or 3.7%, to $8.1 million for the three months ended September 30, 2025 compared to $7.8 million for the three months ended September 30, 2024 due to an increase in rates paid on customer deposits and to a lesser extent an increase in volumes. Credit loss expense of $313 thousand was recorded for the third quarter of 2025 compared to $425 thousand recorded for the third quarter of 2024. The credit loss expense was primarily related to the growth and mix of the loan portfolio at both September 30, 2025 and September 30, 2024. Noninterest income was $3.4 million for the three months ended September 30, 2025 compared to $2.9 million for the three months ended September 30, 2024. Noninterest expenses increased $934 thousand, or 9.9%, to $10.3 million for the three months ended September 30, 2025 compared to $9.4 million for the same period in 2024. The increase during the comparison period was due to increases of $421 thousand in salaries and wages, $508 thousand in other expenses, $32 thousand in occupancy expenses, and $89 thousand in equipment expenses, partially offset by a decrease of $116 thousand in employee benefits. Income tax expense was $414 thousand for the three months ended September 30, 2025, an increase of $537 thousand compared to the income tax benefit of $123 thousand for the three months ended September 30, 2024. Dividend Declared The Board of Directors declared a cash dividend of $0.36 per share for the quarter payable November 6, 2025 to shareholders of record as of October 25, 2025. David S. Silverman, President & CEO, commented: "We are pleased with the strong financial performance through the third quarter of 2025. Our disciplined approach to asset growth, combined with prudent expense management and a resilient loan portfolio, has resulted in meaningful earnings expansion. These results reflect the dedication of our team and the trust our customers place in us every day." About Union Bankshares, Inc. Union Bankshares, Inc., headquartered in Morrisville, Vermont, is the bank holding company parent of Union Bank, which provides commercial, retail, and municipal banking services, as well as, wealth management services throughout northern Vermont and New Hampshire. Union Bank operates 18 banking offices, three loan centers, and multiple ATMs throughout its geographical footprint. Since 1891, Union Bank has helped people achieve their dreams of owning a home, saving for retirement, starting or expanding a business and assisting municipalities to improve their communities. Union Bank has earned an exceptional reputation for residential lending programs and has been recognized by the US Department of Agriculture, Rural Development for the positive impact made in lives of low to moderate home buyers. Union Bank is consistently one of the top Vermont Housing Finance Agency mortgage originators and has also been designated as an SBA Preferred lender for its participation in small business lending. Union Bank's employees contribute to the communities where they work and reside, serving on non-profit boards, raising funds for worthwhile causes, and giving countless hours in serving our fellow residents. All of these efforts have resulted in Union receiving and "Outstanding" rating for its compliance with the Community Reinvestment Act ("CRA") in its most recent examination. Union Bank is proud to be one of the few independent community banks serving Vermont and New Hampshire and we maintain a strong commitment to our core traditional values of keeping deposits safe, giving customers convenient financial choices and making loans to help people in our local communities buy homes, grow businesses, and create jobs. These values-- combined with financial expertise, quality products and the latest technology--make Union Bank the premier choice for your banking services, both personal and business. Member FDIC. Equal Housing Lender. Forward-Looking Statements Statements made in this press release that are not historical facts are forward-looking statements. Investors are cautioned that all forward- looking statements necessarily involve risks and uncertainties, and many factors could cause actual results and events to differ materially from those contemplated in the forward-looking statements. When we use any of the words “believes,” “expects,” “anticipates” or similar expressions, we are making forward-looking statements. The following factors, among others, could cause actual results and events to differ from those contemplated in the forward-looking statements: uncertainties associated with general economic conditions; changes in the interest rate environment; inflation; political, legislative or regulatory developments; acts of war or terrorism; the markets' acceptance of and demand for the Company's products and services; technological changes, including the impact of the internet on the Company's business and on the financial services market place generally; the impact of competitive products and pricing; and dependence on third party suppliers. For further information, please refer to the Company's reports filed with the Securities and Exchange Commission at www.sec.gov or on our investor page at www.ublocal.com. Contact: David S. Silverman (802) 888-6600

MORRISVILLE, VT., July 16, 2025 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three and six months ended June 30, 2025 and declared a regular quarterly cash dividend. Consolidated net income for the three months ended June 30, 2025 was $2.4 million, or $0.53 per share, compared to $2.0 million, or $0.45 per share, for the same period in 2024, and $4.9 million, or $1.08 per share, for the six months ended June 30, 2025, compared to $4.4 million, or $0.98 per share, for the same period in 2024. Balance Sheet Total assets were $1.48 billion as of June 30, 2025 compared to $1.40 billion as of June 30, 2024, an increase of $81.9 million, or 5.9%. Loan growth was the primary driver of the increase in total assets with total loans increasing $99.8 million, or 9.8%, to reach $1.11 billion as of June 30, 2025 including $9.0 million in loans held for sale, compared to $1.01 billion as of June 30, 2024, with $6.2 million in loans held for sale. Despite the economic uncertainty in the future, asset quality remains strong with minimal past due loans and net recoveries of $5 thousand and $6 thousand for the three and six months ended June 30, 2025, respectively. In addition to the balance sheet growth in loans, qualifying residential loans of $31.0 million and $56.8 million were sold to the secondary market for the three and six months ended June 30, 2025, respectively, compared to sales of $19.3 million and $41.0 million for the three and six months ended June 30, 2024, respectively. Total deposits were $1.10 billion as of June 30, 2025 compared to deposits of $1.05 billion as of June 30, 2024, and included purchased brokered deposits of $65.3 million and $65.0 million for the respective periods. Borrowed funds consisted of Federal Home Loan Bank advances of $270.7 million as of June 30, 2025 compared to $212.1 million as of June 30, 2024. There were also $35.0 million in advances from the Federal Reserve's Bank Term Funding Program outstanding as of June 30, 2024. The Company had total equity capital of $71.3 million and a book value per share of $15.66 as of June 30, 2025 compared to $64.0 million and a book value of $14.16 per share as of June 30, 2024. Total equity capital is reduced by accumulated other comprehensive loss as it relates to the fair market value adjustment for investment securities. Accumulated other comprehensive loss as of June 30, 2025 was $31.2 million compared to $35.2 million as of June 30, 2024. Income Statement Consolidated net income was $2.4 million for the second quarter of 2025 compared to $2.0 million for the second quarter of 2024, an increase of $376 thousand, or 18.6%. Interest income increased $2.2 million, or 13.1%, to $18.7 million for the three months ended June 30, 2025 compared to $16.5 million for the three months ended June 30, 2024, due to an increase in yield on earning assets and an increase in volume for the comparison periods. Similarly, interest expense increased $1.2 million, or 17.1%, to $8.3 million for the three months ended June 30, 2025 compared to $7.1 million for the three months ended June 30, 2024 due to an increase in rates paid on customer deposits and to a lesser extent an increase in volumes. As a result of these changes during the comparison periods, net interest income increased $962 thousand, or 10.1%. Credit loss expense of $221 thousand was recorded for the second quarter of 2025 compared to $388 thousand recorded for the second quarter of 2024. The credit loss expense was primarily related to the growth and mix of the loan portfolio at both June 30, 2025 and June 30, 2024. Management continues to assess the adequacy of the Allowance for Credit Losses quarterly. Noninterest income was $2.8 million for the three months ended June 30, 2025 and 2024. Noninterest expenses increased $706 thousand, or 7.2%, to $10.5 million for the three months ended June 30, 2025 compared to $9.8 million for the same period in 2024. The increase during the comparison period was due to increases of $311 thousand in salaries and wages, $340 thousand in employee benefits, $2 thousand in occupancy expenses, and $83 thousand in equipment expenses, partially offset by a decrease of $31 thousand in other expenses. Income tax expense was $102 thousand for the three months ended June 30, 2025, an increase of $41 thousand compared to income tax expense of $61 thousand for the three months ended June 30, 2024. Dividend Declared The Board of Directors declared a cash dividend of $0.36 per share for the quarter payable August 7, 2025 to shareholders of record as of July 26, 2025. About Union Bankshares, Inc. Union Bankshares, Inc., headquartered in Morrisville, Vermont, is the bank holding company parent of Union Bank, which provides commercial, retail, and municipal banking services, as well as, wealth management services throughout northern Vermont and New Hampshire. Union Bank operates 18 banking offices, three loan centers, and multiple ATMs throughout its geographical footprint. Since 1891, Union Bank has helped people achieve their dreams of owning a home, saving for retirement, starting or expanding a business and assisting municipalities to improve their communities. Union Bank has earned an exceptional reputation for residential lending programs and has been recognized by the US Department of Agriculture, Rural Development for the positive impact made in lives of low to moderate home buyers. Union Bank is consistently one of the top Vermont Housing Finance Agency mortgage originators and has also been designated as an SBA Preferred lender for its participation in small business lending. Union Bank's employees contribute to the communities where they work and reside, serving on non-profit boards, raising funds for worthwhile causes, and giving countless hours in serving our fellow residents. All of these efforts have resulted in Union receiving and "Outstanding" rating for its compliance with the Community Reinvestment Act ("CRA") in its most recent examination. Union Bank is proud to be one of the few independent community banks serving Vermont and New Hampshire and we maintain a strong commitment to our core traditional values of keeping deposits safe, giving customers convenient financial choices and making loans to help people in our local communities buy homes, grow businesses, and create jobs. These values--combined with financial expertise, quality products and the latest technology--make Union Bank the premier choice for your banking services, both personal and business. Member FDIC. Equal Housing Lender. Forward-Looking Statements Statements made in this press release that are not historical facts are forward-looking statements. Investors are cautioned that all forward-looking statements necessarily involve risks and uncertainties, and many factors could cause actual results and events to differ materially from those contemplated in the forward-looking statements. When we use any of the words “believes,” “expects,” “anticipates” or similar expressions, we are making forward-looking statements. The following factors, among others, could cause actual results and events to differ from those contemplated in the forward-looking statements: uncertainties associated with general economic conditions; changes in the interest rate environment; inflation; political, legislative or regulatory developments; acts of war or terrorism; the markets' acceptance of and demand for the Company's products and services; technological changes, including the impact of the internet on the Company's business and on the financial services market place generally; the impact of competitive products and pricing; and dependence on third party suppliers. For further information, please refer to the Company's reports filed with the Securities and Exchange Commission at www.sec.gov or on our investor page at www.ublocal.com. Contact: David S. Silverman (802) 888-6600