Union Bankshares Q1 net income up 20% to $3.0M ($0.66/share); declares $0.36 dividend

UNION BANKSHARES INC

2023-Q1 EPS reported $0.66

Q1 net income $3.0M ($0.66 per share) vs $2.5M ($0.55) in Q1 2022, a 20% increase.
Interest income $13.0M (+34.1%); interest expense $3.1M (+302.5%) due to higher rates and wholesale funding.
Total assets $1.4B (+10.4%); loans $976.6M; deposits $1.2B including $108M brokered deposits and $45M FHLB advances.
Unrealized losses on AFS securities $42.9M; book value per share fell to $13.44 from $15.45.
Cash dividend $0.36 per share declared, payable May 4, 2023 to shareholders of record Apr 29, 2023.

item 2.02 item 8.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNION BANKSHARES INC reported the three months ended March 31, 2023 results: net income $3.0 million, EPS $0.66 per share.

Period: the three months ended March 31, 2023
Net income: $3.0 million
EPS: $0.66 per share
Result: reported results

Exact text from the filing

Consolidated net income for the first quarter was $3.0 million, or $0.66 per share compared to $2.5 million, or $0.55 per share, for the same period in 2022, an increase of $495 thousand, or 20.0%.

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Source: SEC EDGAR

accession 0000706863-23-000023

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