Union Bankshares, Inc (UNB) has reported 10.63 percent rise in profit for the quarter ended Sep. 30, 2016. The company has earned $2.27 million, or $0.51 a share in the quarter, compared with $2.05 million, or $0.45 a share for the same period last year.      

Revenue during the quarter grew 9.93 percent to $9.12 million from $8.30 million in the previous year period. Net interest income for the quarter rose 6.82 percent over the prior year period to $6.32 million. Non-interest income for the quarter rose 10.70 percent over the last year period to $2.80 million.

Total assets stood at $672.58 million as on Sep. 30, 2016, up 8.43 percent compared with $620.27 million on Sep. 30, 2015.

Loans outpace deposit growth
Net loans stood at $517.78 million as on Sep. 30, 2016, up 4.95 percent compared with $493.35 million on Sep. 30, 2015. Deposits stood at $572.19 million as on Sep. 30, 2016, up 5.20 percent compared with $543.88 million on Sep. 30, 2015.

Investments stood at $60.67 million as on Sep. 30, 2016, up 3.41 percent or $2 million from year-ago. Shareholders equity stood at $56.80 million as on Sep. 30, 2016, up 5.55 percent or $2.99 million from year-ago.

Book value per share was $12.74 for the quarter, up 5.55 percent or $0.67 compared to $12.07 for the same period last year.

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