<DOCUMENT>
<TYPE>EX-99
<SEQUENCE>3
<FILENAME>uni-x992.txt
<DESCRIPTION>EXHIBIT 99.2
<TEXT>


                                                               Exhibit 99.2


                            FOR IMMEDIATE RELEASE

             Union Bankshares Announces Second Quarter Earnings
                       and Quarterly Dividend Payment

Morrisville, VT  July 5, 2001 - Union Bankshares, Inc. (AMEX - UNB) today
announced net income for the quarter ended June 30, 2001 increased 6.6% to
$1.245 million or $.41 per share compared to $1.168 million or $.38 per
share for the same period last year.  Year to date earnings are $2.413
million or $.80 per share vs. $2.246 million or $.74 per share in June of
2000.

Total assets reached $312 million, deposits $261 million and loans
outstanding grew $23 million to $235 million since June 30, 2000.

A quarterly dividend of $.26 per share was declared on July 5, 2001 to
shareholders of record July 15th, payable July 17th.

Union Bank and Citizens Savings Bank and Trust Company are wholly-owned
subsidiaries of Union Bankshares, Inc. offering deposit, loan, trust and
commercial banking services in North Central Vermont.



This press release contains forward-looking statements.  Investors are
cautioned that all forward-looking statements involve risks and
uncertainties, and several factors could cause actual results to differ
materially from those in the forward-looking statements.  Forward-looking
statements relate to anticipated revenues, gross margins, earnings, and
growth of the market for our products.  The following factors, among
others, could cause actual results to differ from those indicated in the
forward-looking statements: uncertainties associated with market acceptance
of and demand for the company's products, impact of competitive products
and pricing, dependence on third party suppliers, uncertainties associated
with the development of technology, and the dependence on intellectual
property rights.  Investors are directed to the company's 2000 annual
report, which is available from the company without charge for a more
complete description of the company's business.

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