Vermont Business Magazine David S. Silverman, President and Chief Executive Officer of Union Bank of Vermont and New Hampshire, announced today that the Board of Directors of Union Bankshares, Inc. has appointed Steven P. Cote, President of Chalmers Insurance Group, to the Union Bank Board of Directors, effective January 1, 2026. "We are pleased to welcome Steve to our Board," said Silverman. "His decades of leadership in the insurance industry, along with his commitment to strategic planning, client service excellence, and community engagement, make him an outstanding addition. Steve's experience and values are strongly aligned with Union Bank's mission to deliver exceptional, community-focused banking."
Cote joined Chalmers Insurance Group in 2000 and, in 2014, became the first non-family member in the organization's 158-year history to assume the role of President. In addition to leading the agency, he serves as a Commercial Lines Account Executive and oversees carrier relations, strategic planning initiatives, and the development of highquality client service experiences.
With 34 years of experience in the insurance industry, Cote has held various leadership and operational roles that provide him with a deep understanding of business dynamics across Northern New England. He currently serves on several industry advisory groups, including the Acadia Insurance Board of Advisors, the Selective Insurance Northeast Region Producer Council, and the Liberty Mutual Small Business Advisory Council as a Constituent Agent.
A graduate of Bowdoin College, Cote earned his degree in Government & Legal Studies, graduating cum laude in the Class of 1989.
Cote also brings a strong commitment to community service. He is Vice President and Trustee of Fryeburg Academy in Fryeburg, Maine, where he has served for 19 years. He is entering his 11th season as a Volunteer Assistant Girls Varsity Basketball Coach at Kennett High School in North Conway, New Hampshire, and serves on the Advisory Board of the Kendall C. & Anna Ham Charitable Foundation.
"I am honored to join the Bank's Board of Directors," said Cote. "Union Bank enjoys a well-deserved reputation for maintaining deep community roots, a sharp client focus, and a passion for paying it forward. I hope to honor these qualities while working with the leadership to align today's customer needs with bold strategies to ensure the long-term resilience and success of this institution."
Cote resides in Conway, New Hampshire with his wife, Lisa, who serves as the Commercial Lines Manager at Chalmers Insurance Group. He is the proud father of two daughters, Kimberly and Elizabeth. Outside of work, he enjoys coaching basketball, playing golf, and attending music concerts.
Union Bank, a wholly owned subsidiary of Union Bankshares, Inc. (UNB, traded on the NASDAQ Exchange), has been helping people buy homes and local businesses create jobs in area communities since 1891. Headquartered in Morrisville, VT, Union Bank is a full-service bank offering deposit, loan, trust, commercial and municipal banking services throughout northern Vermont and northwestern New Hampshire. Union Bank has earned an outstanding reputation for residential lending programs and is an SBA Preferred Lender. Union Bank has received an "Outstanding" rating for its compliance with the Community Reinvestment Act (CRA). This rating recognizes Union Bank's excellent record of helping to meet the credit needs of members of the communities in which it operates, particularly in low-and moderate-income neighborhoods. Proud to be one of the few community banks serving Vermont and New Hampshire, Union Bank maintains a strong commitment to traditional banking values. In particular, Union Bank is dedicated to providing personalized customer service and community support, including donations to numerous local nonprofit organizations. 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. Union Bank currently maintains 18 banking offices, 3 loan centers and multiple ATMs.
1.28.2026. Morrisville, VT - Union Bank
To support vital journalism, access our archives and get unique features like our award-winning profiles, Book of Lists & Business-to-Business Directory, subscribe HERE!
