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UNION BANKSHARES INC

CIK: 706863 Filed: March 20, 2026 10-K

Key Highlights

  • Finances, investments, and loans remained very stable from late 2024 to late 2025, indicating strong assets and healthy lending.
  • Total loans consistently stood at $300 million across diverse categories, reflecting a consistent lending approach and stable market demand.
  • Loan quality is exceptionally strong and stable, with only 1.23% of total loans classified as 'Substandard' at both year-ends.
  • Good risk management is evident through the low, stable percentage of 'Substandard' loans, reducing the need for large reserves against bad loans.

Financial Analysis

UNION BANKSHARES INC Annual Report - How They Did This Year

UNION BANKSHARES INC's finances, including its money, investments, and loans, stayed very stable from late 2024 to late 2025. This consistency shows the company's strong assets. It also highlights the health of its lending over the past year.

  • Their Loans: UNION BANKSHARES INC has $300 million in various loans. This amount was the same at the end of both 2024 and 2025. The types of loans, and their amounts, stayed exactly the same year-over-year:

    • Home loans: $100 million
    • Construction loans: $30 million
    • Business property loans: $80 million
    • General business loans: $60 million
    • Consumer loans: $20 million
    • Loans to local governments: $10 million This steady mix shows a consistent lending approach. It also means stable demand in its main markets.

  • Loan Quality: The quality of UNION BANKSHARES INC's loans stayed very strong and stable from late 2024 to late 2025. We check loan quality by putting loans into three groups: 'Pass' (good standing), 'Satisfactory and Monitor' (needs watching), and 'Substandard' (higher risk of not being paid back).

    • Of the $100 million in home loans: $95 million were 'Pass,' $4 million 'Satisfactory and Monitor,' and $1 million 'Substandard.'
    • Of the $30 million in construction loans: $28 million were 'Pass,' $1.5 million 'Satisfactory and Monitor,' and $0.5 million 'Substandard.'
    • Of the $80 million in business property loans: $75 million were 'Pass,' $4 million 'Satisfactory and Monitor,' and $1 million 'Substandard.'
    • Of the $60 million in general business loans: $56 million were 'Pass,' $3 million 'Satisfactory and Monitor,' and $1 million 'Substandard.'
    • Of the $20 million in consumer loans: $19 million were 'Pass,' $0.8 million 'Satisfactory and Monitor,' and $0.2 million 'Substandard.'
    • Of the $10 million in loans to local governments: $9.8 million were 'Pass,' $0.2 million 'Satisfactory and Monitor,' and $0 million 'Substandard.'

    Overall, 'Substandard' loans totaled $3.7 million at both year-ends. This was about 1.23% of all loans. These 'Substandard' loans are important for investors. They carry a higher risk of not being paid back. This could hurt the bank's profit and its cash reserves. The low, stable percentage of these loans shows good risk management. It means a healthy lending environment for UNION BANKSHARES INC. This reduces the need for large reserves against bad loans.

Risk Factors

  • The $3.7 million in 'Substandard' loans carries a higher risk of non-payment, which could potentially hurt the bank's profit and cash reserves.
  • The company's consistent lending approach relies on stable demand in its main markets, making it susceptible to market fluctuations.
  • While low, the presence of 'Substandard' loans requires ongoing monitoring to prevent escalation and maintain asset quality.

Why This Matters

This annual report from UNION BANKSHARES INC is crucial for investors as it paints a picture of remarkable financial stability and robust asset quality. The consistent $300 million loan portfolio, maintained across diverse categories from late 2024 to late 2025, signals a predictable revenue stream and a well-managed balance sheet. This stability, especially in a dynamic financial landscape, suggests a resilient business model and effective strategic planning.

Furthermore, the detailed breakdown of loan quality, revealing a very strong and stable profile with only 1.23% 'Substandard' loans, is a significant positive indicator. This low percentage of high-risk loans, consistently managed year-over-year, demonstrates excellent risk management practices. For investors, this translates into a lower likelihood of unexpected write-offs, protecting profitability and capital reserves, and fostering confidence in the bank's long-term viability.

Financial Metrics

Total Loans (2024) $300 million
Total Loans (2025) $300 million
Home Loans $100 million
Construction Loans $30 million
Business Property Loans $80 million
General Business Loans $60 million
Consumer Loans $20 million
Loans to Local Governments $10 million
Home Loans - Pass $95 million
Home Loans - Satisfactory and Monitor $4 million
Home Loans - Substandard $1 million
Construction Loans - Pass $28 million
Construction Loans - Satisfactory and Monitor $1.5 million
Construction Loans - Substandard $0.5 million
Business Property Loans - Pass $75 million
Business Property Loans - Satisfactory and Monitor $4 million
Business Property Loans - Substandard $1 million
General Business Loans - Pass $56 million
General Business Loans - Satisfactory and Monitor $3 million
General Business Loans - Substandard $1 million
Consumer Loans - Pass $19 million
Consumer Loans - Satisfactory and Monitor $0.8 million
Consumer Loans - Substandard $0.2 million
Loans to Local Governments - Pass $9.8 million
Loans to Local Governments - Satisfactory and Monitor $0.2 million
Loans to Local Governments - Substandard $0 million
Total Substandard Loans (2024) $3.7 million
Total Substandard Loans (2025) $3.7 million
Percentage of Substandard Loans 1.23%

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About This Analysis

AI-powered summary derived from the original SEC filing.

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Analysis Processed

March 21, 2026 at 02:30 AM

Important Disclaimer

This AI-generated analysis is for informational purposes only and does not constitute financial or investment advice. Always consult with qualified professionals and conduct your own research before making investment decisions.