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, 2001 and
2000, 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, 2001.  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 U.S. 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, 2001
and 2000, and the consolidated results of their operations and their
consolidated cash flows for each of the three years in the period
ended December 31, 2001 in conformity with U.S. generally accepted
accounting principles.



Berry, Dunn, McNeil & Parker
Portland, Maine
January 18, 2002