Union Bankshares (Union Bankshares) Credit Losses Provision : $-0.50 Mil (As of Dec. 2023)

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What is Union Bankshares Credit Losses Provision?

Union Bankshares's credit losses provision for the three months ended in Dec. 2023 was $-0.34 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $-0.50 Mil.

Union Bankshares's quarterly credit losses provision declined from Jun. 2023 ($-0.10 Mil) to Sep. 2023 ($-0.14 Mil) and declined from Sep. 2023 ($-0.14 Mil) to Dec. 2023 ($-0.34 Mil).

Union Bankshares's annual credit losses provision stayed the same from Dec. 2021 ($0.00 Mil) to Dec. 2022 ($0.00 Mil) but then declined from Dec. 2022 ($0.00 Mil) to Dec. 2023 ($-0.50 Mil).

Union Bankshares Credit Losses Provision Historical Data

The historical data trend for Union Bankshares's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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Union Bankshares Credit Losses Provision Chart

Union Bankshares Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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0.78

2.20

-0.50

Union Bankshares Quarterly Data
	Mar19	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23
Credit Losses Provision	Get a 7-Day Free Trial															-	0.07	-0.10	-0.14	-0.34

Union Bankshares Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $-0.50 Mil.

Union Bankshares (Union Bankshares) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » Union Bankshares Inc (NAS:UNB) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

N/A

Address

20 Lower Main Street, P.O. Box 667, Morrisville, VT, USA, 05661-0667

Website

https://www.ublocal.com

Union Bankshares Inc operates as a community bank in the financial services industry. It offers retail and commercial banking services to its customers through its branches, ATMs, telebanking, and internet banking systems. The company provides retail banking services to individuals and commercial banking services to small and medium-sized corporations, partnerships, and sole proprietorships, as well as nonprofit organizations, local municipalities, and school districts within its market area. In addition, it also offers fiduciary and asset management services through its Asset Management Group. Geographically, all the business activity is functioned through the US.

Executives

Patricia N Hogan	other: Officer of Union Bank	11 OLD ROUTE 15, CAMBRIDGE VT 05444
Dawn D Bugbee	director	313 WEST SHORE ROAD, SOUTH HERO VT 05486
David Scott Silverman	director, officer: President & CEO	153 LAZY LANE, MORRISVILLE VT 05661
Mary K Parent	director	144 PLEASANT STREET, SAINT JOHNSBURY VT 05819
Nancy C Putnam	director	413 JEFF HEIGHTS ROAD, JEFFERSONVILLE VT 05464
Van Dyke Cornelius John	director	P.O. BOX 1090, STOWE VT 05672-1090
Vincent W Schoenig	other: Officer of Union Bank	75 FENIMORE STREET 2, MORRISVILLE VT 05661
Janet P Spitler	other: Director of Union Bank	275 KENNEDY DRIVE, SOUTH BURLINGTON VT 05403
Gregory D Sargent	director	15 CEDAR HILL DRIVE, ST. ALBANS VT 05478
Stephen H Kendall	other: Officer of Union Bank	254 BIRCH ROAD, SHELBURNE VT 05482
Jonathan Jay Gould	other: Officer of Union Bank	18 HUNT ROAD, BRISTOL NH 03222
Robert D Hofmann	other: Officer of Union Bank	223 SNOW HILL ROAD, WATERBURY CENTER VT 05677
Carrie R Locklin	other: Officer of Union Bank	388 WEST HILL ROAD, ST. JOHNSBURY VT 05819
Lura L Jacques	other: Officer of Union Bank	1360 PIDGEON HILL ROAD, FRANKLIN VT 05457
Joel S Bourassa	director	PO BOX 568, NORTH WOODSTOCK NH 032620568