INDEPENDENT AUDITORS' REPORT




The Board of Directors and Shareholders
Union Bankshares Company


We have audited the accompanying consolidated balance sheets
of Union Bankshares Company and Subsidiary as of December
31, 2000 and 1999, and the related consolidated statements
of income, changes in shareholders' equity and cash flows
for each of the three years in the period ended December 31,
2000.  These consolidated financial statements are the
responsibility of the Company's management.  Our
responsibility is to express an opinion on these
consolidated financial statements based on our audits.

We conducted our audits in accordance with generally
accepted auditing standards.  Those standards require that
we plan and perform the audit to obtain reasonable assurance
about whether the financial statements are free of material
misstatement.  An audit includes examining, on a test basis,
evidence supporting the amounts and disclosures in the
financial statements.  An audit also includes assessing the
accounting principles used and significant estimates made by
management, as well as evaluating the overall financial
statement presentation.  We believe that our audits provide
a reasonable basis for our opinion.

In our opinion, the financial statements referred to above
represent fairly, in all material respects, the consolidated
financial position of Union Bankshares Company and
Subsidiary as of December 31, 2000 and 1999, and the
consolidated results of their operations and their
consolidated cash flows for each of the three years in the
period ended December 31, 2000 in conformity with generally
accepted accounting principles.



Berry, Dunn, McNeil & Parker
Portland, Maine
January 19, 2001