UNB · CIK 706863
What Union Bankshares, Inc. told the SEC could break it.
Union Bankshares' disclosures trace to its concentration in a single rural region. It lends primarily to Vermont and New Hampshire customers, with a large portion of loans secured by commercial and residential real estate in those states, tying its credit exposure to VT/NH real-estate and economic conditions. That geography also brings physical climate risk — its Johnson, Vermont branch was damaged by 2024 flooding and never reopened — and severe weather affecting it or its collateral could hurt results. As a bank it also operates in a highly regulated environment under the FRB, FDIC and Vermont DFR, with CRA, AML and Dodd-Frank requirements whose breach could bring sanctions or impair its ability to branch or acquire.
3 self-disclosed vulnerabilities, pulled from its own filings, each in the company’s words, with the source. This is the risk register almost nobody reads.
In its own words
What could break it.
Geographic concentration
- loans primarily to Vermont and New Hampshire customers, largely RE-securedhigh
Union Bank grants loans primarily to Vermont and New Hampshire customers, with a large portion secured by commercial/residential real estate in those (largely rural) states — concentrating credit exposure to VT/NH real-estate and economic conditions.
“The Company grants loans primarily to customers in Vermont and New Hampshire. Although it has a diversified loan portfolio, a large portion of the Company's loans are secured by commercial or residential real estate located in Vermont and New Hampshire, resulting in exposure to volatility with each state's real estate market.”
SEC filing →As of 2026
Climate & physical
- flooding / severe weather in Vermont (a branch was lost to 2024 flooding)medium
Union is exposed to severe-weather/flood risk in its market — its Johnson, VT branch property was damaged by 2024 flooding and not reopened — and such events affecting it or its collateral properties could adversely affect results.
“Union owns a property located in Johnson, VT that was previously a branch location. This property was damaged due to flooding in 2024 and was not re-opened.”
SEC filing →As of 2026
Regulatory & policy
- FRB/FDIC/Vermont DFR bank regulation, CRA, AML and Dodd-Frankmedium
Union operates in a highly regulated environment (FRB, FDIC, Vermont DFR) with CRA-rating, AML and Dodd-Frank requirements; non-compliance could bring sanctions, civil money penalties and impair its ability to branch or make acquisitions.
“Failure to 16 comply with laws, regulations, or policies could result in sanctions by regulatory agencies, civil money penalties, and/or reputational damage, which could have a material adverse effect on our business, financial condition, or results of operations.”
SEC filing →As of 2026
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