Union Bank to purchase Littleton, NH, Main Street location

Union Bank and Amasa LLC today jointly announced they have reached agreement for Union to purchase the building in which its branch is currently located at 76 Main Street in Littleton. Union assumed the Main Street location lease for the branch when it acquired three Northway Bank branches last May. The other two locations are in North Woodstock and Groveton.
Ken Gibbons, Chairman and Chief Executive Officer Of Union Bank, stated ‘As a tenant, it was a logical decision for us to purchase this property and, after discussions with the Amasa members, we were able to come to agreement on a price which is fair to all. Thirteen of our eighteen locations are in owned, rather than leased, premises. Our Dells Road branch will continue to offer full service banking as well, providing two convenient locations in Littleton.’
The terms of the agreement call for all existing tenants to remain as Union will assume the leases as part of the transaction which is scheduled to close by March 31st.
Mark L. Secord, Certified Public Accountant and Managing Member of Amasa LLC, commented ‘We have owned the property for a number of years and have enjoyed working with great tenants. When Union Bank approached us to purchase the property, they made a fair offer, they will keep all the tenants in place and continue to maintain the building as we have. To us it is a win/win situation. This will allow me to continue to focus full time on my Public Accounting practice in the same convenient Main Street location.’
Union plans to make minor alterations to the interior of the building, and plans some changes to the parking lots this spring. The 25 year old remote teller stations and canopy system will be removed and the area converted to parking with additional landscaping. Replacing the remote teller stations will be a full service drive-up ATM located in the parking lot at the rear of the building.
‘There has been a bank at this site serving downtown Littleton since the 1860's. The purchase of this property is another example of our recognition and commitment to the Northern New Hampshire market as an area of continued growth opportunity for the company’ states Gibbons.
Union Bankshares, Inc., headquartered in Morrisville, Vermont is the bank holding company parent of Union Bank, which offers deposit, loan, trust, investment management and commercial banking services throughout northern Vermont and northwestern New Hampshire. At December 31, 2011, the Company had $553 million in consolidated assets compared to $453 million at December 31, 2010. The Company operates 13 banking offices, a loan center and 30 ATM facilities in Vermont; 4 branches and ATM facilities in New Hampshire.
Union Bank has been helping people buy homes and local businesses create jobs in area communities since 1891. Union Bank has earned an outstanding reputation for residential lending programs, is an SBA Preferred lender and has an outstanding Community Reinvestment Act rating. Union is proud to be one of the few community banks serving Vermont and New Hampshire and maintains a strong commitment to traditional values. Union is dedicated to providing genuine customer service and community support, donating tens of thousands of dollars to local nonprofits annually. These values--combined with financial expertise, quality products and the latest technology--make Union Bank the premier choice for your banking services, both personal and commercial. Member FDIC. Equal Housing Lender.