Union Bankshares, Inc. Financial Ratios — UNB Stock

Profitability (USD)

	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Return on Common Equity (%)	10.91	13.85	13.74	14.04	13.62	13.91	12.99	10.41	14.92	16.53	15.56	13.79	11.6	8.71	10.65
Return on Assets (%)	1.04	1.21	1.23	1.27	1.26	1.29	1.18	0.91	1.27	1.3	1.15	0.99	0.8	0.58	0.7
Return on Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Return on Invested Capital (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Gross Margin (%)	100	100	100	100	100	100	100	100	100	100	100	100	100	100	100
EBITDA Margin (%)	3.01	3.36	3.61	3.71	3.89	4.16	3.93	3.71	4.35	4.41	3.97	3.76	3.5	3.4	3.06
Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Incremental Operating Margin (%)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Pretax Margin (%)	24.12	27.03	30.26	31.27	32.81	32.41	33.99	22.32	31.25	32.53	33.11	31.83	27.49	19.5	22.56
Profit Margin (%)	19.86	21.75	23.99	24.89	24.52	24.83	23.83	18.92	26.66	27.36	27.57	26.34	24.03	18.71	20.82
Net Income to Common Margin (%)	19.86	21.75	23.99	24.89	24.52	24.83	23.83	18.92	26.66	27.36	27.57	26.34	24.03	18.71	20.82
Effective Tax Rate (%)	17.66	19.55	20.7	20.41	25.26	23.39	29.9	15.25	14.67	15.89	16.73	17.26	12.58	4.04	7.73
Dvd Payout Ratio (%)	85.4	65.12	63.1	60.27	61.13	58.03	60.97	75.34	51.66	44.43	44.62	49.43	56.99	73.55	58.49
Sustainable Growth Rate (%)	1.59	4.83	5.07	5.58	5.29	5.84	5.07	2.57	7.21	9.19	8.62	6.97	4.99	2.3	4.42

Credit (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Total Debt	29	16	13	15	10	32	32	28	47	7	16	66	82	276	303
ST Debt	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
LT Debt	29	16	13	15	10	32	32	28	47	7	16	66	82	276	303
Total Debt/EBITDA	36.64	14.88	12.32	13.18	7.65	22.16	22.65	20.06	27.14	3.47	8.53	36.76	49.99	173.24	185.65
Net Debt/EBITDA	-1.11	-10.58	-8.97	-1.71	-5.92	12.5	13.18	10.44	20.25	-5.31	-0.89	25.14	38.33	164.05	177.3
Total Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Net Debt/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBITDA-CapEx/Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EBIT to Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Interest Expense	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	8.73	8.77	9.1	9.02	9.44	9.11	8.99	8.54	8.47	7.41	7.32	7.08	6.77	6.66	6.58
Long-Term Debt/Equity (%)	71.93	34.96	26.53	29.39	17.85	56.14	53.84	43.14	65.65	8.86	19.17	119.89	124.51	415.12	374.44
Long-Term Debt/Capital (%)	37.56	23.73	19.88	21.16	13.87	33.41	32.01	28.79	38.95	8.13	15.48	41.16	45.17	73.06	73.99
Long-Term Debt/Total Assets (%)	5.25	2.73	2.26	2.42	1.52	4.57	4.23	3.45	5.4	0.66	1.34	4.95	5.58	18.06	18.72
Total Debt/Equity (%)	71.93	34.96	26.53	29.39	17.85	56.14	53.84	43.14	65.65	8.86	19.17	119.89	124.51	415.12	374.44
Total Debt/Capital (%)	37.56	23.73	19.88	21.16	13.87	33.41	32.01	28.79	38.95	8.13	15.48	41.16	45.17	73.06	73.99
Total Debt/Total Assets (%)	5.25	2.73	2.26	2.42	1.52	4.57	4.23	3.45	5.4	0.66	1.34	4.95	5.58	18.06	18.72
Net Debt to Equity	-2.17	-24.86	-19.31	-3.8	-13.83	31.66	31.32	22.45	48.99	-13.54	-2	81.99	95.45	393.11	357.61
Net Debt/Capital (%)	-1.85	-28.41	-22.04	-3.6	-14.25	22.06	21.5	17.38	32.26	-15.63	-1.94	32.36	38.71	71.98	73.1
EBITDA	1	1	1	1	1	1	1	1	2	2	2	2	2	2	2
EBITDA-CapEx	-1	-1	- -	-1	-1	-1	-1	-2	-5	1	-2	1	- -	1	- -
Operating Income (Loss)	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Liquidity (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Cash Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Current Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Quick Ratio	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
CFO/Avg Current Liab	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Common Equity/Total Assets	8.73	8.77	9.1	9.02	9.44	9.11	8.99	8.54	8.47	7.41	7.32	7.08	6.77	6.66	6.58
Long-Term Debt/Equity (%)	71.93	34.96	26.53	29.39	17.85	56.14	53.84	43.14	65.65	8.86	19.17	119.89	124.51	415.12	374.44
Long-Term Debt/Capital (%)	37.56	23.73	19.88	21.16	13.87	33.41	32.01	28.79	38.95	8.13	15.48	41.16	45.17	73.06	73.99
Long-Term Debt/Total Assets (%)	5.25	2.73	2.26	2.42	1.52	4.57	4.23	3.45	5.4	0.66	1.34	4.95	5.58	18.06	18.72
Total Debt/Equity (%)	71.93	34.96	26.53	29.39	17.85	56.14	53.84	43.14	65.65	8.86	19.17	119.89	124.51	415.12	374.44
Total Debt/Capital (%)	37.56	23.73	19.88	21.16	13.87	33.41	32.01	28.79	38.95	8.13	15.48	41.16	45.17	73.06	73.99
Total Debt/Total Assets (%)	5.25	2.73	2.26	2.42	1.52	4.57	4.23	3.45	5.4	0.66	1.34	4.95	5.58	18.06	18.72
CFO/Total Liabilities	1.44	0.65	3.33	0.38	2.28	1.2	1.44	2.26	1.45	-0.7	2.6	2.27	0.66	0.83	1.12
CFO/CapEx	4.92	1.72	13.8	1.02	5.74	3.94	4.97	5.46	1.81	-7.01	8.32	43.66	4.72	11.35	13.75
Altman's Z-Score	0.25	0.25	0.27	0.27	0.29	0.35	0.36	0.32	0.27	0.2	0.2	0.18	0.18	0.17	0.16

Working Capital (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Accounts Receivable Turnover	15.59	18.79	18.57	17.58	17.43	16.76	14.9	14.07	28.4	- -	- -	- -	- -	- -	- -
Days Sales Outstanding	23.41	19.42	19.65	20.76	20.94	21.78	24.49	25.93	12.85	- -	- -	- -	- -	- -	- -
Inventory Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Days Inventory Outstanding	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Accounts Payable Turnover Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Cash Conversion Cycle	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventory to Cash Days	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Inventories	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Raw Materials	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Work In Process	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Finished Goods	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Other Inventory	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -

Enterprise Value (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Market Capitalization	85	87	103	106	124	203	237	214	162	115	134	108	138	131	108
- Cash & Cash Equivalents	30	27	23	17	17	14	13	13	12	18	18	21	19	15	14
+ Preferred Equity and Hybrid Capital	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Minority/Non Controlling Interest	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
+ Total Debt	29	16	13	15	10	32	32	28	47	7	16	66	82	276	303
Enterprise Value	41	55	59	58	63	155	190	155	110	-2	-136	-97	-64	141	156
Total Capital	77	66	66	71	69	95	99	97	121	88	104	161	181	378	409
Total Debt/Capital (%)	37.56	23.73	19.88	21.16	13.87	33.41	32.01	28.79	38.95	8.13	15.48	41.16	45.17	73.06	73.99
Total Debt / EV	0.71	0.29	0.23	0.26	0.15	0.2	0.17	0.18	0.43	-4.48	-0.12	-0.68	-1.29	1.95	1.94
EV/Sales	1.56	1.75	1.97	1.87	1.95	4.52	5.35	4.14	2.76	- -	- -	- -	- -	3.02	2.93
EV/EBITDA	51.8	52	54.67	50.5	50.13	108.55	136.04	111.61	63.31	- -	- -	- -	- -	88.76	95.52
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/Cash Flow to Firm	5.58	15.84	3.29	26.28	4.78	20.25	19.22	9.24	9.45	- -	- -	- -	- -	11.64	9.04
EV/Free Cash Flow to Firm	4.63	10.02	3.07	13.24	4.07	16.15	16	7.81	6.09	- -	- -	- -	- -	10.69	8.43
Diluted Market Cap	85	87	103	106	124	203	237	214	162	115	134	108	138	131	108
Diluted Enterprise Value	84	76	93	104	117	220	255	228	197	104	132	153	201	392	397
EV per Share	9.21	12.38	13.16	13.02	14.09	34.74	42.42	34.58	24.59	- -	- -	- -	- -	31.31	34.17
TTM Sales	26	31	30	31	32	34	35	37	40	47	48	48	47	47	53
TTM EBITDA	1	1	1	1	1	1	1	1	2	2	2	2	2	2	2
TTM Operating Income	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
TTM Cash Flow to Firm	7	3	18	2	13	8	10	17	12	-7	29	29	9	12	17
TTM Free Cash Flow to Firm	9	5	19	4	15	10	12	20	18	-6	33	30	11	13	18

Multiples (USD)

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	2011 Y	2012 Y	2013 Y	2014 Y	2015 Y	2016 Y	2017 Y	2018 Y	2019 Y	2020 Y	2021 Y	2022 Y	2023 Y	2024 Y	2025 Y
As of date	12/31/2011	12/31/2012	12/31/2013	12/31/2014	12/31/2015	12/31/2016	12/31/2017	12/31/2018	12/31/2019	12/31/2020	12/31/2021	12/31/2022	12/31/2023	12/31/2024	12/31/2025

Price/Free Cash Flow	9.58	15.82	5.37	24.15	8.06	21.14	19.97	10.78	8.98	-19.01	4.09	3.63	12.39	9.87	5.86
EV/EBIT	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Enterprise Value	41	55	59	58	63	155	190	155	110	-2	-136	-97	-64	141	156
Low Price	17.95	18.56	19.25	21.84	23.75	26.5	39.55	41.4	25.54	16.5	25.05	21.29	20.07	21	20.65
EV/Sales	1.56	1.75	1.97	1.87	1.95	4.52	5.35	4.14	2.76	- -	- -	- -	- -	3.02	2.93
EV/EBITDA	51.8	52	54.67	50.5	50.13	108.55	136.04	111.61	63.31	- -	- -	- -	- -	88.76	95.52
Price/Earnings	16.26	12.69	14.38	13.73	15.77	23.8	28.02	30.22	15.24	8.99	10.15	8.54	12.26	14.9	9.77
Price/Earnings Average	16.41	12.58	13.16	13.9	14.79	17.39	23.73	32.15	15.72	8.3	10.73	9.76	9.63	14.23	11.42
Price/Earnings High	19.12	13.64	14.38	15.02	16.54	26.26	29.1	34.81	20.59	13.27	12.92	11.75	12.37	19.43	14.81
Price/Earnings Low	15.33	12.05	12.03	12.62	13.42	13.87	20.93	26.2	10.73	5.77	8.52	7.58	8.03	10.82	8.5
Price/Book Value	1.76	1.72	1.93	1.88	2.09	3.22	3.53	3.11	2.19	1.42	1.51	1.14	1.39	1.28	1.02
Price/Book Value Average	1.78	1.7	1.76	1.9	1.96	2.35	2.99	3.31	2.26	1.31	1.6	1.3	1.09	1.23	1.19
Price/Book Value High	2.07	1.84	1.93	2.05	2.19	3.55	3.67	3.58	2.97	2.1	1.93	1.57	1.4	1.67	1.54
Price/Book Value Low	1.66	1.63	1.61	1.72	1.78	1.88	2.64	2.69	1.55	0.91	1.27	1.01	0.91	0.93	0.88
Price/Tangible Book Value	2.32	2.1	2.21	2.2	2.46	3.8	4.24	3.43	2.33	1.46	1.58	1.95	2.1	1.96	1.34
Price/Tangible Book Value Average	2.35	2.08	2.03	2.22	2.31	2.78	3.59	3.65	2.4	1.35	1.68	2.23	1.65	1.88	1.56
Price/Tangible Book Value High	2.73	2.26	2.21	2.4	2.58	4.19	4.4	3.95	3.15	2.16	2.02	2.69	2.12	2.56	2.03
Price/Tangible Book Value Low	2.19	1.99	1.85	2.02	2.1	2.22	3.17	2.98	1.64	0.94	1.33	1.73	1.37	1.43	1.16
Price/Sales	3.23	2.76	3.45	3.42	3.87	5.91	6.68	5.72	4.06	2.46	2.8	2.25	2.95	2.79	2.03
Price/Sales Average	3.26	2.74	3.16	3.46	3.63	4.32	5.65	6.08	4.19	2.27	2.96	2.57	2.31	2.66	2.38
Price/Sales High	3.8	2.97	3.45	3.74	4.06	6.52	6.93	6.59	5.49	3.63	3.56	3.1	2.97	3.64	3.08
Price/Sales Low	3.04	2.62	2.89	3.14	3.29	3.45	4.99	4.96	2.86	1.58	2.35	2	1.93	2.03	1.77
Price/Cash Flow	11.53	25.01	5.76	47.92	9.46	26.49	23.99	12.75	13.93	-16.3	4.58	3.71	15.02	10.74	6.28
Price/Cash Flow Average	11.64	24.8	5.27	48.51	8.88	19.36	20.32	13.57	14.38	-15.06	4.84	4.24	11.79	10.26	7.34
Price/Cash Flow High	13.56	26.88	5.76	52.44	9.93	29.23	24.92	14.69	18.83	-24.06	5.83	5.11	15.15	14.01	9.53
Price/Cash Flow Low	10.87	23.76	4.82	44.07	8.05	15.45	17.92	11.06	9.81	-10.46	3.84	3.29	9.83	7.8	5.47
Price/Free Cash Flow Average	9.67	15.68	4.92	24.45	7.56	15.45	16.91	11.47	9.27	-17.56	4.32	4.15	9.73	9.43	6.85
Price/Free Cash Flow High	11.27	17	5.37	26.43	8.45	23.32	20.74	12.41	12.14	-28.06	5.2	4.99	12.51	12.88	8.88
Price/Free Cash Flow Low	9.03	15.02	4.49	22.21	6.86	12.32	14.91	9.34	6.33	-12.2	3.43	3.22	8.11	7.17	5.1
EV/Sales Average	3.23	2.38	2.84	3.4	3.4	4.84	6.17	6.47	5.07	2.04	2.92	3.52	3.65	8.24	7.81
EV/Sales High	3.76	2.61	3.13	3.68	3.83	7.04	7.45	6.97	6.37	3.4	3.53	4.04	4.31	9.22	8.52
EV/Sales Low	3.01	2.27	2.56	3.08	3.06	3.96	5.5	5.34	3.74	1.34	2.31	2.94	3.27	7.61	7.2
EV/EBITDA Average	107.05	70.8	78.57	91.52	87.23	116.28	156.99	174.39	116.56	46.26	73.66	93.52	104.44	242.32	254.86
EV/EBITDA High	124.89	77.63	86.62	99.07	98.25	169.21	189.56	187.93	146.39	77.09	88.87	107.47	123.3	270.93	277.94
EV/EBITDA Low	99.9	67.38	71.04	82.98	78.58	95.3	140.01	144.04	85.99	30.52	58.3	78.21	93.46	223.59	235.03
EV/EBIT Average	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT High	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
EV/EBIT Low	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Last Price	19.04	19.54	23	23.75	27.91	45.45	52.95	47.75	36.26	25.71	29.83	24.01	30.65	28.91	23.73
High Price	22.39	21	23	25.99	29.28	50.15	55	55	49	37.95	37.99	33.03	30.93	37.7	36
Enterprise Value Average	85	75	84	105	109	166	219	242	203	95	140	168	171	386	416
Enterprise Value High	99	82	93	114	123	241	264	261	254	159	168	194	202	432	453
Enterprise Value Low	79	71	76	95	98	136	195	200	149	63	111	141	153	356	383

Shares Outstanding	4	4	4	4	4	4	4	4	4	4	4	5	5	5	5
Diluted Weighted Avg Shares	4	4	4	4	4	4	4	4	4	4	4	4	5	5	5
Basic Weighted Avg Shares	4	4	4	4	4	4	4	4	4	4	4	4	5	5	5
Revenue per Share	5.89	7.08	6.67	6.95	7.22	7.69	7.93	8.35	8.93	10.45	10.66	10.67	10.4	10.37	11.67
EBITDA per Share	0.18	0.24	0.24	0.26	0.28	0.32	0.31	0.31	0.39	0.46	0.42	0.4	0.36	0.35	0.36
Operating Income per Share	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -	- -
Basic EPS, GAAP	1.17	1.54	1.6	1.73	1.77	1.91	1.89	1.58	2.38	2.86	2.94	2.81	2.5	1.94	2.43
Basic EPS from Cont Ops	1.17	1.54	1.6	1.73	1.77	1.91	1.89	1.58	2.38	2.86	2.94	2.81	2.5	1.94	2.43
Diluted EPS, GAAP	1.17	1.54	1.6	1.73	1.77	1.91	1.89	1.58	2.38	2.86	2.94	2.81	2.5	1.94	2.43
Diluted EPS from Cont Ops	1.17	1.54	1.6	1.73	1.77	1.91	1.89	1.58	2.38	2.86	2.94	2.81	2.5	1.94	2.43
Dividend per Share	1	1	1.01	1.04	1.08	1.11	1.15	1.19	1.23	1.27	1.31	1.39	1.42	1.43	1.42
Cash Flow per Share	1.65	0.78	4	0.5	2.95	1.72	2.21	3.74	2.6	-1.58	6.52	6.47	2.04	2.69	3.78
Free Cash Flow per Basic Share	1.32	0.33	3.71	0.01	2.44	1.28	1.76	3.06	1.17	-1.8	5.73	6.32	1.61	2.45	3.5
Cash & Equivalents per Share	16.34	10.71	12.81	14.13	15.97	17.8	17.59	19.38	22.21	27.67	63.77	60.41	62.96	58.71	55.97
Book Value per Share	10.82	11.39	11.94	12.66	13.34	14.13	15.01	15.37	16.52	18.09	19.71	21.08	22.09	22.53	23.34
Tangible Book Value per Share	8.19	9.31	10.39	10.82	11.33	11.96	12.49	13.91	15.56	17.57	18.83	12.3	14.61	14.72	17.73

Union Bankshares, Inc.

Profitability (USD)

Credit (USD)

Liquidity (USD)

Working Capital (USD)

Enterprise Value (USD)

Multiples (USD)

Per Share Data Items (USD)