UNB

MKT CAP:$116M

Union Bankshares, Inc.

Market Cap

$116M

Financial Services·Banks - Regional·🇺🇸 United States·NASDAQ

Financials·Banks - Regional·🇺🇸·NASDAQ

Stock Price

$24.79+$1.07 (+4.51%)

Apr 24, 2026

Company Details

Union Bankshares, Inc. operates as the bank holding company for Union Bank that provides retail, commercial, and municipal banking products and services in northern Vermont and New Hampshire. It offers retail depository services, such as pe...

CEO

David Scott Silverman

IPO Date

Aug 9, 1999

Website

www.ublocal.com

Key Metrics TTM

Revenue

$88M

+10.5% YoY

Net Income

$12M

EPS (Diluted)

$2.52

Free Cash Flow

-$25M

Revenue / Share

$19.18

Gross Margin

62.5%

Operating Margin

14.4%

Net Margin

13.1%

FCF Margin

-28.7%

P/S

1.3x

P/E

10.0x

Earnings Reports

Q1 2026

Mar 30, 2026

$22M+6.9%EPS $0.65

FY 2025

Mar 20, 2026

$87M+12.0%EPS $2.43

Q4 2025

Mar 20, 2026

$23M+5.4%EPS $0.60

Q3 2025

Nov 10, 2025

$23M+19.6%EPS $0.75

Q2 2025

Aug 13, 2025

$21M+11.1%EPS $0.52

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 22	$13M	$12M	$4M
Q3 22	$14M	$13M	$5M
Q4 22	$15M	$13M	$4M
Q1 23	$15M	$12M	$3M
Q2 23	$16M	$12M	$3M
Q3 23	$17M	$12M	$3M
Q4 23	$18M	$12M	$3M
Q1 24	$18M	$12M	$3M
Q2 24	$19M	$12M	$2M
Q3 24	$19M	$11M	$1M
Q4 24	$21M	$13M	$3M
Q1 25	$21M	$12M	$3M
Q2 25	$21M	$13M	$2M
Q3 25	$23M	$14M	$4M
Q4 25	$23M	$14M	$3M
Q1 26	$22M	$14M	$3M

Valuation

Quarter	P/S	P/E
Q2 22	2.2x	9.1x
Q3 22	2.1x	8.4x
Q4 22	2.0x	8.5x
Q1 23	1.7x	7.5x
Q2 23	1.7x	8.0x
Q3 23	1.5x	8.4x
Q4 23	2.1x	12.7x
Q1 24	2.0x	13.0x
Q2 24	1.3x	9.5x
Q3 24	1.6x	13.2x
Q4 24	1.7x	14.7x
Q1 25	1.8x	15.9x
Q2 25	1.5x	13.2x
Q3 25	1.3x	10.2x
Q4 25	1.2x	9.7x
Q1 26	1.3x	9.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$15M	$15M
Q2 22	$2M	$1M
Q3 22	$6M	$6M
Q4 22	$6M	$6M
Q1 23	$2M	$2M
Q2 23	$4M	$3M
Q3 23	$411.0K	-$300.0K
Q4 23	$3M	$2M
Q1 24	$2M	$1M
Q2 24	$3M	$3M
Q3 24	$1M	$1M
Q4 24	$6M	$6M
Q1 25	$4M	$4M
Q2 25	$288.0K	-$381.0K
Q3 25	$10M	$10M
Q4 25	-$38M	-$38M

Capital Expenditures

Quarter	CapEx
Q1 22	$164.0K
Q2 22	$126.0K
Q3 22	$186.0K
Q4 22	$189.0K
Q1 23	$200.0K
Q2 23	$202.0K
Q3 23	$711.0K
Q4 23	$833.0K
Q1 24	$385.0K
Q2 24	$336.0K
Q3 24	$211.0K
Q4 24	$139.0K
Q1 25	$143.0K
Q2 25	$669.0K
Q3 25	$155.0K
Q4 25	$286.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 22	-3.6%	-4.4%
Q3 22	-1.1%	+1.1%
Q4 22	+12.1%	+14.6%
Q1 23	+29.1%	+32.6%
Q2 23	+29.0%	+44.8%
Q3 23	+24.3%	+54.4%
Q4 23	+25.6%	+43.7%
Q1 24	+19.4%	+32.3%
Q2 24	+18.8%	+31.4%
Q3 24	+9.1%	+22.1%
Q4 24	+16.6%	+21.9%
Q1 25	+13.5%	+15.2%
Q2 25	+11.1%	+10.0%
Q3 25	+19.6%	+5.9%
Q4 25	+5.4%	+7.7%
Q1 26	+6.9%	+4.1%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$103.0K	0.9%
Q2 22	$133.0K	1.1%
Q3 22	$123.0K	0.9%
Q4 22	$87.0K	0.6%
Q1 23	$113.0K	0.7%
Q2 23	$105.0K	0.6%
Q3 23	$130.0K	0.8%
Q4 23	$26.0K	0.1%
Q1 24	$146.0K	0.8%
Q2 24	$146.0K	0.8%
Q3 24	$150.0K	0.8%
Q4 24	-$44.0K	-0.2%
Q1 25	$146.0K	0.7%
Q2 25	$150.0K	0.7%
Q3 25	$153.0K	0.7%
Q4 25	-$449.0K	-2.0%

OpEx Breakdown

Quarter	G&A
Q2 22	$6M
Q3 22	$6M
Q4 22	$6M
Q1 23	$6M
Q2 23	$6M
Q3 23	$6M
Q4 23	$6M
Q1 24	$6M
Q2 24	$7M
Q3 24	$7M
Q4 24	$7M
Q1 25	$7M
Q2 25	$7M
Q3 25	$7M
Q4 25	$9M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$19M	$272M	$291M
Q2 22	$18M	$262M	$280M
Q3 22	$19M	$240M	$259M
Q4 22	$21M	$250M	$271M
Q1 23	$21M	$275M	$296M
Q2 23	$20M	$268M	$287M
Q3 23	$19M	$249M	$268M
Q4 23	$19M	$264M	$284M
Q1 24	$19M	$258M	$276M
Q2 24	$18M	$253M	$271M
Q3 24	$18M	$245M	$263M
Q4 24	$15M	$174M	$189M
Q1 25	$13M	$152M	$165M
Q2 25	$12M	$139M	$151M
Q3 25	$13M	$161M	$174M
Q4 25	$5M	$8M	$12M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 22	5M	+0.4%	+1.1%
Q3 22	4M	-0.9%	-0.8%
Q4 22	4M	-0.0%	+0.6%
Q1 23	5M	+0.8%	+0.4%
Q2 23	5M	+0.6%	+0.6%
Q3 23	5M	+0.0%	+1.5%
Q4 23	5M	-0.5%	+1.0%
Q1 24	5M	+0.9%	+1.1%
Q2 24	4M	-1.6%	-1.2%
Q3 24	5M	+1.5%	+0.3%
Q4 24	4M	-1.7%	-0.9%
Q1 25	5M	+2.1%	+0.3%
Q2 25	5M	0.0%	+1.9%
Q3 25	5M	0.0%	+0.4%
Q4 25	5M	0.0%	+2.1%
Q1 26	5M	+0.8%	+0.8%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 22	$64.8K	194
Q3 22	$71.6K	194
Q4 22	$77.7K	188
Q1 23	$80.9K	188
Q2 23	$86.2K	188
Q3 23	$91.8K	188
Q4 23	$93.1K	197
Q1 24	$92.1K	197
Q2 24	$97.7K	197
Q3 24	$95.6K	197
Q4 24	$111.9K	191
Q1 25	$107.8K	191
Q2 25	$112.0K	191
Q3 25	$117.9K	191
Q4 25	$117.9K	191
Q1 26	$115.2K	191

Revenue / Employee