Union Bankshares (UNB) investor relations material

Executive summary

• Net income for Q1 2026 was $3.0 million ($0.65 per share), up from $2.5 million ($0.55 per share) year-over-year.

• Total assets grew 6.6% to $1.63 billion, driven by increases in Federal funds sold and investment securities.

• The Board declared a quarterly cash dividend of $0.36 per share, payable May 7, 2026.

Financial highlights

• Net interest income rose by $1.0 million (10.0%) year-over-year, supported by higher earning assets and interest rates.

• Interest income increased 6.8% to $19.5 million, while interest expense rose 2.6% to $8.2 million.

• Noninterest income was $2.5 million, up $54 thousand year-over-year.

• Noninterest expenses increased 9.8% to $10.8 million, mainly due to higher salaries, benefits, and other costs.

• Credit loss benefit of $325 thousand recorded, compared to a $235 thousand expense in Q1 2025.

Outlook and guidance

• Management continues to monitor macroeconomic indicators and believes current credit loss expense is appropriate for the loan portfolio.

• Forward-looking statements caution about risks from economic conditions, interest rates, inflation, regulation, and competition.