Union Bank, Financial Information

About Union Bank

 Address:
311 North Main Street
Jamestown, TN
Fentress County, Tennessee
 Established:
Jan 1904
 Number of domestic offices:
3
Total assets$222M
Net income$0M
Net income, quarterly$0M
Total deposits$196M
Domestic deposits$196M
Equity capital$25M
ROA-0.07%
ROAQ, quarterly0.52%
ROA, pretax0.52%
ROAQ, quarterly, pretax0.31%
ROE-0.62%
ROEQ, quarterly4.56%
UpdatedMay 20, 2021

Terms and Definitions

  • Domestic deposits
    The sum of all domestic deposits, including demand deposits, money market deposits and time deposits.
  • Equity capital
    Total equity capital (includes preferred and common stock, surplus and undivided profits).
  • ROA
    Return on assets, net income after taxes and extraordinary items (annualized) as a percent of average total assets.
  • ROE
    Return on equity, annualized net income as a percent of average equity on a consolidated basis.

The Union Bank is the outgrowth of two former banking enterprises: the Bank of Jamestown and the Farmers Bank. The Bank of Jamestown was chartered on August 15, 1904 with W.L. Wright as its first President and Travis Smith as Cashier.

The Farmers Bank was established on February 22, 1922, naming W.M. Johnson as President and H.B. Reeves as Cashier. On September 21, 1933, the two banks merged to become what is known today as Union Bank. The current Chairman of the Board is Ralph Upchurch and the current President and C.E.O. is Thomas B. Duncan.

The bank operated from its first location on the public square until 1968, when it moved into its new headquarters on North Main and Church Streets until 2009. In the fall of 2009, the main branch relocated to a new three story 27,000 square foot facility, better equipped to handle its growing customer needs.

The bank has a branch location in Clarkrange and Byrdstown and a mortgage company in its main office. The banks total employment has grown to 45 individuals and our total resources exceed $160 million. Union Bank is proud to have served our community for over a century and is committed to continuing our tradition of excellence for many years to come.