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Union Bank

Morrisville, VT · Cert 14158 · Union Bankshares Inc.

State charter, non-member · FDIC · 18 branches

Q2 2026

Board Package

Performance Trends and Peer Comparison

Part 1Performance Trends, own institution only2
Part 2Peer Comparison, banks $1B-$10B in assets operating regionally3

Basis

Quarter: Q2 2026, the quarter ended June 30, 2026, on both parts.

Income statement: year to date as filed, annualized, on both parts.

Balance sheet: as filed at quarter end.

Peer group

Banks $1B-$10B in assets operating regionally (n=176). Each measure ranks only the institutions that reported it, so n varies by measure.

Peer groups below the disclosure floor are suppressed.

Peer standing

Capital

36

Q2 2024Q2 2026peer median (50)

Asset Quality

62

Q2 2024Q2 2026peer median (50)

Profitability

25

Q2 2024Q2 2026peer median (50)

Liquidity

5

Q2 2024Q2 2026peer median

Efficiency

10

Q2 2024Q2 2026peer median (50)

Growth

No peer data yet

Capital, Asset Quality, Profitability, Efficiency: higher is always a stronger peer standing (▲ better, ▼ worse). Liquidity, Growth: the score reflects closeness to the peer median -- 100 is sitting exactly at the median, falling the same way whether the bank runs above or below it.

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas.

CallReports · callreports.ai · Board PackageGenerated 2026-10-11

Union Bank

Morrisville, VT · Cert 14158 · Union Bankshares Inc.

State charter, non-member · FDIC · 18 branches

Q2 2026

$1.6BAssets
$1.1BLoans
$1.1BDeposits
$106.1MEquity
Loan mix
97%RE $1.0B3%C&I $0.0B0%Consumer $0.0BQ2 2025Q2 2026
Deposit mix
80%Interest-bearing $877.2M20%Noninterest $222.8MQ2 2025Q2 2026

NIM

4.35%Q2 ’244.67%Q2 ’254.72%Q2 ’26+4%+4%

Non-interest income vs. expense

2.51%Q2 ’242.52%Q2 ’252.61%Q2 ’26+3%+3%

Market Position · Burlington-South Burlington, VT · 2026 SOD (annual) · 2.1% share · #9 of 15 inst. · $0.2B of $8.2B

55.9% Lamoille
23.0% Caledonia
3.4% Grafton
10.5% Franklin

Executive Summary

  • Earnings: ROA of 0.80%, up 10 bps year over year; NIM at 2.77%.
  • Asset quality: problem loans at 1.35% of loans (-2 bps YoY), with net charge-offs at 0.00%.
  • Capital: tier 1 leverage ratio of 7.82%, up 52 bps from a year ago.
  • Funding: loans stand at 102.18% of deposits as of Q2 2026.

Financial Results

Return on Assets (YTD, annualized)

0.80%+10 bps YoY

Net Interest Margin (YTD, annualized)

2.77%+12 bps YoY

Efficiency Ratio (YTD, annualized)

75.99%-65 bps YoY

Tier 1 Leverage Ratio

7.82%+52 bps YoY

Year to date, annualized, through each quarter.

MetricQ2 2025Q3 2025Q4 2025Q1 2026Q2 2026YoY ΔTrend
Earnings
Return on Assets0.70%0.78%0.77%0.80%0.80%+10 bps
Return on Equity12.54%13.76%13.42%13.40%12.83%+29 bps
Net Interest Margin2.66%2.72%2.66%2.77%2.77%+12 bps
Efficiency Ratio76.64%74.29%74.97%75.94%75.99%-65 bps
Non-Interest Burden1.88%1.84%1.82%1.96%1.94%+6 bps
Growth
Asset Growth (YoY)5.84%3.57%5.83%6.60%5.32%-52 bps
Loan Growth (YoY)9.84%4.70%1.54%1.35%0.91%-893 bps
Deposit Growth (YoY)4.77%1.44%3.96%1.61%-0.68%-545 bps
Asset Quality
Nonperforming Loans / Loans1.37%1.14%1.17%1.13%1.35%-2 bps
Net Charge-Offs / Loans0.00%0.00%0.00%0.00%0.00%0 bps
Allowance / Loans0.75%0.71%0.71%0.68%0.75%0 bps
Allowance Coverage of NPLs0.5x0.6x0.6x0.6x0.6x0.0x
Capital
Tier 1 Leverage Ratio7.30%7.49%7.36%7.39%7.82%+52 bps
Total Risk-Based Capital12.62%12.94%12.81%12.94%13.73%+110 bps
Equity / Assets5.85%5.94%6.00%5.93%6.81%+96 bps
Liquidity & Funding
Loans / Deposits100.58%98.94%96.98%98.23%102.18%+161 bps
Liquid Assets / Assets0.83%2.09%0.66%1.78%0.72%-10 bps
CRE / Total Capitaln/a456%451%450%n/an/a

Source: FFIEC Call Report (031/041/051), as filed. Dollar figures derived from reported amounts in thousands. Ratios computed by CallReports.ai using published regulatory formulas. Income-statement figures are year-to-date as filed, annualized (the UBPR convention). Each quarter includes the ones before it.

CallReports · callreports.ai· Performance TrendsGenerated 2026-10-11

Union Bank

Morrisville, VT · Cert 14158 · Peer group: banks $1B-$10B in assets operating regionally (n=176) · Union Bankshares Inc.

State charter, non-member · FDIC · 18 branches

Q2 2026

$1.6BAssets
$1.1BLoans
$1.1BDeposits
$106.1MEquity

Executive Summary

  • Strongest standing: net charge-offs / loans outperforms 100% of banks $1B-$10B in assets operating regionally (rank 10 of 176).
  • Widest gap: equity / assets trails 97% of banks $1B-$10B in assets operating regionally (rank 171 of 176).
  • Overall: at or above the peer median on 4 of 9 directional measures.

Return on Assets

0.82%

Rank 146 of 176

Net Interest Margin

2.77%

Rank 164 of 176

Efficiency Ratio

75.99%

Rank 160 of 176

Equity / Assets

6.81%

Rank 171 of 176

Non-interest income vs. expense

$11.1M$43.7MINCOMEEXPENSE
Unfavorable gap of $32.6M · efficiency ratio beats 10% of banks $1B-$10B in assets operating regionally
Bank 75.99%Peer median 59.6%Q3 2024Q2 2026Shaded: peer 25th to 75th percentile
MetricYour BankPeer 25thPeer MedianPeer 75thStandingRankPeer Position
Earnings
Return on Assets0.82%0.93%1.26%1.54%Beats 17%146 / 176
Return on Equity12.08%9.26%11.89%14.46%Beats 51%86 / 176
Net Interest Margin2.77%3.25%3.59%3.93%Beats 7%164 / 176
Efficiency Ratio75.99%52.79%59.55%67.66%Beats 10%160 / 176
Asset Quality
Nonperforming Loans / Loans1.35%0.30%0.64%1.32%Beats 23%136 / 176
Net Charge-Offs / Loans0.00%0.01%0.04%0.10%Beats 100%10 / 176
Capital
Tier 1 Capital Ratio12.81%11.15%12.72%14.15%Beats 51%86 / 176
Total Risk-Based Capital Ratio13.73%11.81%13.63%15.33%Beats 53%83 / 176
Equity / Assets6.81%9.16%10.35%11.80%Beats 3%171 / 176
Liquidity & Funding
Loans / Deposits102.18%80.94%89.73%97.21%89th pctl20 / 176
Loans / Assets72.14%69.25%75.12%80.82%36th pctl113 / 176
Brokered Deposits / Depositsn/aNot reported for this institution