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Union Bankshares provides banking and related financial services to consumers and businesses. It accepts various deposit products, including checking, savings, NOW, time deposit, and money market accounts, as well as certificates of deposit and other depository services. The Company also offers loans for commercial, industrial, residential mortgage, and consumer purposes. In addition, it provides credit cards, automated teller machine (ATM) services, mobile and Internet banking services, and online bill payment services, as well as asset management, private banking, and trust services to individuals and corporations.
TypePublic
Founded1902
HQRuther Glen, US
Websitebankatunion.com

Latest Updates

Employees (est.) (Dec 2018)1,609(+14%)
Job Openings119
Revenue (FY, 2018)$633 M(+58%)
Share Price (May 2019)$35.3

Key People/Management at Union Bankshares

Jesse T. Ellington

Jesse T. Ellington

Chief Investment Officer
Stuart Blain

Stuart Blain

President, Trust Division
Margot Allman-Smith

Margot Allman-Smith

Financial Advisor, RJFS
Randy Bower

Randy Bower

UIS; Financial Advisor, RJFS
Jack Catlett

Jack Catlett

Senior Vice President, Trust Advisor
John Faith

John Faith

Vice President, UIS; Financial Advisor, RJFS
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Union Bankshares Office Locations

Union Bankshares has an office in Ruther Glen
Ruther Glen, US (HQ)
Ruther Glen, VA 22546, USA
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Union Bankshares Financials and Metrics

Union Bankshares Revenue

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Union Bankshares's revenue was reported to be $633.03 m in FY, 2018
USD

Revenue (Q1, 2019)

190.6m

Gross profit (Q1, 2019)

152.5m

Gross profit margin (Q1, 2019), %

80%

Net income (Q1, 2019)

35.6m

EBIT (Q1, 2019)

127.5m

Market capitalization (17-May-2019)

2.9b

Closing stock price (17-May-2019)

35.3

Cash (31-Mar-2019)

283.6m

EV

3.4b
Union Bankshares's current market capitalization is $2.9 b.
Annual
USDFY, 2013FY, 2015FY, 2016FY, 2017FY, 2018

Revenue

210.9m341.8m365.8m401.9m633.0m

Cost of goods sold

20.5m24.9m29.8m50.0m102.1m

Gross profit

190.4m316.8m336.1m351.8m530.9m

Gross profit Margin, %

90%93%92%88%84%
Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Revenue

85.3m86.1m86.7m86.7m90.8m93.4m95.5m99.3m102.4m147.0m173.0m151.3m190.6m

Cost of goods sold

4.9m6.0m6.6m7.0m7.0m7.4m10.1m12.2m13.7m20.9m24.2m25.4m38.1m

Gross profit

80.4m80.0m80.2m79.6m83.8m86.0m85.4m87.1m88.7m126.1m148.8m125.9m152.5m

Gross profit Margin, %

94%93%92%92%92%92%89%88%87%86%86%83%80%
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Cash

73.0m133.3m142.7m179.2m199.4m261.2m

Accounts Receivable

361.0m

Inventories

PP&E

126.0m122.0m120.0m147.0m
Quarterly
Annual
USDFY, 2013FY, 2014FY, 2015FY, 2016FY, 2017FY, 2018

Net Income

34.5m52.6m67.1m77.5m72.9m146.2m

Depreciation and Amortization

8.4m7.2m

Inventories

Accounts Payable

Quarterly
USDQ2, 2014Q3, 2014Q1, 2015Q2, 2015Q3, 2015Q1, 2016Q2, 2016Q3, 2016Q1, 2017Q2, 2017Q3, 2017Q1, 2018Q2, 2018Q3, 2018Q1, 2019

Net Income

14.8m37.5m15.7m31.0m49.3m17.0m36.3m56.7m19.1m37.1m57.7m16.6m64.0m102.2m35.6m

Depreciation and Amortization

2.5m2.1m2.1m1.9m1.7m1.8m1.6m

Cash From Operating Activities

108.2m20.6m40.1m79.2m

Purchases of PP&E

(351.2m)(29.9m)(122.0m)(83.7m)(122.7m)(159.9m)
USDY, 2019

EV/EBIT

26.3 x

Financial Leverage

6.9 x
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Union Bankshares Operating Metrics

Union Bankshares's Total Loans was reported to be $6.8b in Q2, 2017.
FY, 2014Q1, 2015Q2, 2015Q3, 2015FY, 2015Q1, 2016Q2, 2016Q3, 2016FY, 2016Q1, 2017Q2, 2017

Bank Branches

131 124 114

Non-accrual Loans

$19.26 m$17.39 m$9.52 m$12.97 m$11.94 m$13.09 m$10.86 m$12.68 m$9.97 m$22.34 m$24.57 m

Total Loans

$5.35 b$5.39 b$5.51 b$5.54 b$5.67 b$5.78 b$5.94 b$6.15 b$6.31 b$6.55 b$6.77 b
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Union Bankshares Online and Social Media Presence

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Union Bankshares News and Updates

Union Bankshares Holds Annual Meeting, Honors Retiring Chairman, Elects New Board Member

MORRISVILLE, Vt., May 16, 2019 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ – UNB) today announced the results of voting at the Company’s annual meeting of stockholders held on May 15, 2019.  Approximately 87% of the Company’s outstanding shares of stock were represented at the meeting.  Inc…

Union Bankshares Reports First Quarter Results

RICHMOND, Va., April 24, 2019 (GLOBE NEWSWIRE) -- Union Bankshares Corporation (the “Company” or “Union”) (Nasdaq: UBSH) today reported net income of $35.6 million and earnings per share of $0.47 for its first quarter ended March 31, 2019.  Net operating earnings(1) were $50.2 million and operatin…

Union Bankshares Announces First Quarter Ended March 31, 2019 Earnings and Quarterly Dividend Payment

MORRISVILLE, Vt., April 17, 2019 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three months ended March 31, 2019 and declared a regular quarterly cash dividend.  Consolidated net income for the first quarter of 2019 was $2.6 million, or $0.59 per share, …

Union Bankshares Corporation To Release First Quarter 2019 Results

RICHMOND, Va., April 09, 2019 (GLOBE NEWSWIRE) -- Union Bankshares Corporation today announced that it will release first quarter 2019 results before the market opens on Wednesday, April 24, 2019. 

Union Bankshares Corporation Completes Acquisition of Access National Corporation; Intends to Rebrand its bank from Union Bank & Trust to Atlantic Union Bank

RICHMOND, Va., Feb. 01, 2019 (GLOBE NEWSWIRE) -- Union Bankshares Corporation (“Union”) today announced the completion of its acquisition of Access National Corporation (“Access”). This transaction strengthens Union’s presence in Virginia’s most populous market, Northern Virginia. 

Union Bankshares Reports Fourth Quarter and Full Year Results

RICHMOND, Va., Jan. 22, 2019 (GLOBE NEWSWIRE) -- Union Bankshares Corporation (the “Company” or “Union”) (Nasdaq: UBSH) today reported net income of $44.1 million and earnings per share of $0.67 for its fourth quarter ended December 31, 2018.  Net operating earnings(1) were $46.2 million and opera…
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Union Bankshares Frequently Asked Questions

  • When was Union Bankshares founded?

    Union Bankshares was founded in 1902.

  • Who are Union Bankshares key executives?

    Union Bankshares's key executives are Jesse T. Ellington, Stuart Blain and Margot Allman-Smith.

  • How many employees does Union Bankshares have?

    Union Bankshares has 1,609 employees.

  • What is Union Bankshares revenue?

    Latest Union Bankshares annual revenue is $633 m.

  • What is Union Bankshares revenue per employee?

    Latest Union Bankshares revenue per employee is $393.4 k.

  • Who are Union Bankshares competitors?

    Competitors of Union Bankshares include Capital One, First Internet Bancorp and PennyMac Financial Services.

  • Where is Union Bankshares headquarters?

    Union Bankshares headquarters is located at Ruther Glen, VA 22546, USA, Ruther Glen.

  • Where are Union Bankshares offices?

    Union Bankshares has an office in Ruther Glen.

  • How many offices does Union Bankshares have?

    Union Bankshares has 1 office.