Union Bankshares Inc (NASDAQ: UNB)

Union Bankshares Inc., known by its ticker symbol UNB, is a one-bank holding company that operates primarily in the banking industry. Its subsidiary, Union Bank, provides a variety of retail, commercial, municipal banking, and wealth management and trust services to customers in northern Vermont and northern New Hampshire. With 20 banking offices, two loan centers, and several ATMs, Union Bank has established a strong presence in these regions.

The company's primary revenue comes from interest and fees on loans, as well as earnings on other investments. Union Bank offers a range of deposit accounts, including personal checking accounts, checking accounts with interest, savings accounts, money market accounts, certificates of deposit, IRA/SEP/KEOGH accounts, and Health Savings accounts. Its primary products and services include commercial loans for business purposes, commercial real estate loans, SBA guaranteed loans, residential construction and mortgage loans, municipal financing, and online cash management services.

Union Bank operates in a competitive market, facing off against local and regional commercial banks, savings banks, tax-exempt credit unions, mortgage brokers, and financial services affiliates of bank holding companies. Additionally, the company competes with national and regional financial institutions, such as mutual funds, brokerage houses, insurance companies, consumer finance companies, and internet banks. However, Union Bank has several competitive advantages, including its focus on community banking, local autonomy, and strong relationships with its customers.

The company's customers include individuals, businesses, and municipalities in its market area. Union Bank has a diverse customer base, with a mix of small and medium-sized businesses, as well as individuals and families. The company's customers appreciate its personalized service, competitive rates, and convenient locations.

In terms of its position within the industry, Union Bank is a well-capitalized and well-managed community bank with a strong reputation in northern Vermont and northern New Hampshire. The company has a long history of serving its customers and has built a loyal customer base over the years. Union Bank's commercial banking segment is a significant contributor to the company's revenue and profitability, providing loans and deposit services to businesses and individuals in northern Vermont and northern New Hampshire. Union Bank's municipal banking segment provides essential banking services to local governments and public entities, while its wealth management and trust segment offers trust and investment services to individuals, families, and businesses in northern Vermont and northern New Hampshire.