Quarterly ResultMay 8, 2026, 04:18 PM
Union Bankshares Q1 Net Income +20.1% to $3.00M; EPS $0.65
AI Summary
Union Bankshares reported a strong first quarter for 2026, with net income increasing by 20.1% to $3.00 million and basic and diluted earnings per share rising to $0.65. The company's net interest income also saw a significant increase, reaching $11.30 million. While total assets experienced a modest increase, total deposits saw a slight decrease, and total stockholders' equity also declined marginally.
Key Highlights
- Net income increased by 20.1% to $3.00 million for the three months ended March 31, 2026, compared to $2.50 million in the prior year period.
- Basic and diluted earnings per common share rose to $0.65, up from $0.55 in the same period last year.
- Net interest income grew by 9.98% to $11.30 million for the quarter, compared to $10.27 million in Q1 2025.
- Total assets increased slightly to $1.63 billion as of March 31, 2026, from $1.62 billion at December 31, 2025.
- Total deposits decreased by 1.25% to $1.20 billion as of March 31, 2026, from $1.21 billion at December 31, 2025.
- The company recorded a credit loss benefit of $325 thousand for the quarter, compared to a credit loss expense of $235 thousand in Q1 2025.
- Dividends per common share remained stable at $0.36 for both periods.
- Total stockholders' equity was $80.57 million as of March 31, 2026, a slight decrease from $80.86 million at December 31, 2025.
Price Impact
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