Union Bank
Morrisville, Vermont · $1.56B in assets · beside the 11 other New England banks between $1B and $3B (the state alone holds too few in the band to rank)
The filing
Union Bank holds the least equity of the twelve New England banks between $1B and $3B, 6.8% of assets against a median of 9.5%, and its noncurrent loans are 1.35% of the book, ninth of twelve against 0.51%. Vermont alone has four banks in the band, so the cohort is regional.
The allowance covers noncurrent loans 0.6 times, tenth of twelve, and 0.47% of the book is 30 to 89 days past due, the highest in the group. Commercial real estate is 41.8% of loans, eleventh, with construction at 8.8%. Loans stand at 102% of deposits.
Return on assets is 0.76%, second of twelve, so the earnings carry it. Thin capital under a credit line that is moving is the shape a stress test exists for.
SBA 7(a), FY2008 to FY2026
Union Bank is the 7th largest 7(a) lender into Vermont of 110, with $26M across 200 loans, 3.5% of everything approved in the state (Manufacturers and Traders Trust Company leads with $93M). 10 of its 15 markets have had no approvals since before FY2023: an absence in the record, not a stated withdrawal.
| County | Approved | Rank | Share | Trend |
|---|---|---|---|---|
| Lamoille, VT | $12M | 1st of 20 | 38.3% | -11.1 pts |
| Chittenden, VT | $5M | 12th of 58 | 2.0% | -1.7 pts |
| Franklin, VT | $2M | 5th of 23 | 6.7% | quiet FY2022 |
| Orleans, VT | $2M | 4th of 19 | 7.5% | quiet FY2022 |
| Caledonia, VT | $2M | 5th of 24 | 5.7% | quiet FY2022 |
| Grafton, NH | $1M | 27th of 56 | 1.2% | -1.0 pts |
| Washington, VT | $896K | 14th of 30 | 1.3% | quiet FY2016 |
| Carroll, NH | $895K | 22nd of 47 | 1.2% | -5.9 pts |
| Coos, NH | $537K | 16th of 31 | 1.1% | -1.9 pts |
| Addison, VT | $432K | 15th of 26 | 1.4% | quiet FY2019 |
| Essex, VT | $355K | 2nd of 9 | 22.5% | quiet FY2016 |
| Orange, VT | $271K | 15th of 22 | 1.1% | quiet FY2019 |
| Grand Isle, VT | $175K | 7th of 15 | 4.9% | quiet FY2019 |
| Industry | Loans | Approved | Share of book | Share of sector | Rank |
|---|---|---|---|---|---|
| Accommodation & food services | 43 | $8M | 26.1% | 0.01% | 661st of 2,596 |
| Manufacturing | 34 | $6M | 19.4% | 0.01% | 637th of 2,246 |
| Retail trade | 47 | $5M | 17.5% | 0.01% | 708th of 2,589 |
| Construction | 27 | $3M | 9.6% | 0.01% | 775th of 2,063 |
| Wholesale trade | 10 | $2M | 7.8% | 0.01% | 654th of 1,651 |
Commercial real estate against capital
| Union Bank | Rank | Cohort median | |
|---|---|---|---|
| Total CRE against capital, the 300% screen | 335% | 12th of 12 | 233% |
| Construction against capital, the 100% screen | 71% | 11th of 12 | 41% |
| Construction and land development, share of loans | 8.8% | 11th of 12 | 5.7% |
| Non-owner-occupied nonfarm nonresidential, share of loans | 24.2% | 11th of 12 | 16.2% |
| Total CRE, the guidance definition, share of loans | 41.8% | 11th of 12 | 31.4% |
| CRE growth over 36 months, the third prong | +21.2% | 8th of 12 | +17.2% |
Among its peers
| Institution | Assets | ROA | Efficiency | NPA / loans | Net charge-offs | Allowance / loans | Loans / deposits | Equity / assets |
|---|---|---|---|---|---|---|---|---|
 Main Street Bank | $1.67B | 0.6% | 75.7% | 1.69% | -0.02% | 0.9% | 90.1% | 11.0% |
 East Cambridge Savings Bank | $1.66B | 0.4% | 81.9% | 0.20% | 0.00% | 0.6% | 100.2% | 9.4% |
 Meredith Village Savings Bank | $1.64B | 0.6% | 79.1% | 0.41% | 0.05% | 0.9% | 107.1% | 9.6% |
 Bluestone Bank | $1.62B | 0.3% | 83.1% | 1.04% | 0.16% | 0.6% | 90.6% | 8.1% |
| BBankhometown | $1.60B | 0.6% | 58.9% | 2.74% | 0.96% | 1.4% | 93.9% | 11.8% |
 Northfield Savings Bank | $1.58B | 0.7% | 73.5% | 0.52% | 0.01% | 0.9% | 86.8% | 9.9% |
 Newburyport Five Cents Savings Bank | $1.57B | 0.4% | 88.8% | 1.66% | 0.33% | 1.3% | 104.0% | 9.1% |
 Union Bank | $1.56B | 0.8% | 76.0% | 1.35% | 0.00% | 0.7% | 102.2% | 6.8% |
 Greenfield Savings Bank | $1.52B | 0.6% | 76.5% | 0.42% | 0.00% | 0.8% | 100.7% | 9.3% |
 Bath Savings Institution | $1.50B | 0.7% | 66.3% | 0.05% | -0.02% | 1.4% | 76.5% | 14.7% |
 Ascend Bank | $1.49B | 1.0% | 69.4% | 0.50% | 0.06% | 0.8% | 88.1% | 10.1% |
 Saco & Biddeford Savings Institution | $1.47B | 0.2% | 90.3% | 0.14% | 0.00% | 0.4% | 119.2% | 9.3% |
| Union Bank | Cohort median | |||||
|---|---|---|---|---|---|---|
| 2021 | 2026 | Change | 2021 | 2026 | Change | |
| Loans | $783M | $1.12B | +44% | $887M | $1.23B | +38% |
| Deposits | $971M | $1.10B | +13% | $1.05B | $1.32B | +25% |
| NPA / loans | 0.76% | 1.35% | +0.59 pts | 0.42% | 0.51% | +0.10 pts |
| Efficiency | 67.3% | 76.0% | +8.7 pts | 70.6% | 76.2% | +5.6 pts |
| ROA | 1.08% | 0.76% | -0.32 pts | 0.81% | 0.60% | -0.21 pts |
This read was prepared for Union Bank's board and management from the public record, and is one slice of what Lynx builds for any bank from its own filing: the peer cohort, the capital, liquidity and rate models with the assumptions the institution sets, and a summary report of twenty sections for the board.
The full pack on Union Bank is prepared on request, and thirty days on the institution's own numbers are open to anyone at the bank.
Ask for the packPrepared 6 September 2026
Filing 30 June 2026
Cohort New England banks $1B to $3B
Institution www.ublocal.com
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