UNB UNION BANKSHARES INC
FY2024 10-K
UNION BANKSHARES INC (UNB) filed its fiscal year 2024 10-K annual report with the SEC on Mar 25, 2025. This page provides AI-powered analysis of the filing, including business overview, management discussion, risk factors, and key financial metrics from XBRL data.
AI Filing AnalysisFY2024 10-K
Business Overview
- • Core business: Community banking through Union Bank providing retail, commercial, municipal banking, wealth management across 18 branches in northern VT and NH
- • Emphasis on digital delivery channels including mobile banking, online mortgage applications, and remote deposit capture expanded in 2024
Management Discussion & Analysis
- • Revenue $48.1M net interest and $9.7M noninterest income, slight 1.4% net interest income growth, total net income $8.8M vs $11.3M in 2023
- • Operating margin (net interest margin) 2.77% vs 2.88%, net interest spread 2.30% vs 2.50%, efficiency ratio 77.62% vs 72.83%
Risk Factors
- • Regulatory risk from CFPB's QM Rule under Dodd-Frank Act may limit loan types or increase costs, constraining growth and profitability
- • Geographic concentration with 41% commercial loans and real estate collateral in Vermont and New Hampshire exposes to regional economic and natural hazard risks
Financial SummaryXBRL
Revenue
$68M
Net Income
$9M
Net Margin
12.9%
ROE
13.2%
Total Assets
$1.5B
EPS (Diluted)
$1.92
Operating Cash Flow
$12M
Source: XBRL data from UNION BANKSHARES INC FY2024 10-K filing on SEC EDGAR. All figures in USD.
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