Union Bankshares Q2 Earnings Rise 21% to $0.61/Share, Declares $0.36 Dividend Amid CEO Transition
UNB sits 20% above its 52-week low of $20.65.
Summary
Union Bankshares reported Q2 2026 net income of $2.9M ($0.61/share), up 21% YoY, and declared a $0.36 quarterly dividend. The results reflect strong net interest income growth and a 16.7% increase in book value per share, alongside a CEO transition.
Key Events · Earnings and Guidance · UNB
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Q2 Earnings Beat
Net income rose 21% to $2.9M ($0.61/share) vs. $2.4M ($0.53/share) in Q2 2025, driven by an 11.2% increase in net interest income to $11.6M.
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Dividend Declared
Board declared a regular quarterly cash dividend of $0.36 per share, payable August 6, 2026 to shareholders of record July 27, 2026.
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Balance Sheet Growth
Total assets reached $1.56B, up 5.3% YoY; book value per share increased 16.7% to $18.28, aided by $8.6M in net proceeds from ATM equity sales.
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CEO Transition
David S. Silverman transitions from CEO to Chair of the Board; Jeffrey F. Weidley named CEO, ensuring leadership continuity.
Analysis · UNB · Finance
Union Bankshares delivered a strong second quarter, with net income climbing 21% year-over-year to $2.9 million, or $0.61 per share, driven by an 11% jump in net interest income and a one-time gain on a branch sale. The results underscore the resilience of its community banking model, as total assets grew 5.3% to $1.56 billion and book value per share expanded 16.7% to $18.28. The board also declared a regular quarterly dividend of $0.36 per share, payable August 6. The earnings release coincides with a planned leadership transition: longtime CEO David S. Silverman moves to Chair of the Board, while Jeffrey F. Weidley assumes the CEO role, signaling continuity and confidence in the bank's strategic direction.
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In the 30 days to Oct 1, 2026, 30.2% of the 1605 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.53%. These are measured outcomes after filings of this importance, not a forecast for this one.
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At the time of this filing, UNB was trading at $24.74 on NASDAQ in the Finance sector, with a market capitalization of approximately $114.1M. The 52-week trading range was $20.65 to $29.49. This filing was assessed with positive market sentiment and an importance score of 7 out of 10.