Union Bankshares, Inc. has announced the results of voting at the Company’s 125th annual meeting of shareholders held on May 18, 2016. Approximately 87.74% of the Company’s outstanding shares of stock were represented at the meeting. Incumbent directors Steven J. Bourgeois, Kenneth D. Gibbons, John M. Goodrich, Timothy W. Sargent, David S. Silverman, John H. Steel, Schuyler W. Sweet, and Neil J. Van Dyke were reelected to a one-year term. Dawn D. Bugbee, a current director of Union Bank, a subsidiary of Union Bankshares, Inc., was elected for the first time by the shareholders to the Union Bankshares, Inc. Board of Directors. Election of directors was by plurality vote.
Dawn D. Bugbee, has been a Union Bank director since her appointment to the Board in September 2015. She is currently a Vice President and Chief Financial Officer for Green Mountain Power Corporation. Prior to March 2006 she was the Chief Financial officer at Northwestern Medial Center (NMC) in St. Albans, Vermont. She is a certified public accountant (CPA) and holds a Bachelor of Science degree from Castleton University. She is an active member in the local community serving on the Board of Directors and Finance Committees at NMC and Goodwill of Northern New England. Dawn is a past Trustee for Champlain College in Burlington, a gubernatorial appointee to the Vermont Education and Health Building Financing Agency (VEHBFA), a Board member for United Way of Chittenden County and a Rotarian in the St. Albans and Colchester clubs. Dawn's years of experience as Chief Financial Officer add valuable strength to the Board.
Kenneth D. Gibbons, remains Chairman of the Board of Union Bankshares, Inc. and Union Bank. Cornelius J. Van Dyke was appointed as Vice Chairman of the Board of Union Bankshares, Inc. and Union Bank. David S. Silverman remains President and Chief Executive Officer of Union Bankshares, Inc. and Union Bank.
The shareholders approved a non-binding resolution to approve the compensation of the Company’s Named Executive Officers as well as ratified the selection of the firm of Berry, Dunn, McNeil & Parker as the Company’s external auditors for 2016.
Union Bankshares, Inc., headquartered in Morrisville, Vermont, is the bank holding company parent of Union Bank, which provides commercial, retail and municipal banking services and asset management services throughout northern Vermont and New Hampshire. As of March 31, 2016, the Company had approximately $640.8 million in consolidated assets compared to $622.5 million atMarch 31, 2015. The Company operates 12 banking offices, three loan centers and multiple ATM facilities in Vermont; 5 banking offices and multiple ATM’s in New Hampshire.