---
schema_version: "secwatch.filing_event.v1"
accession: "0000706863-23-000023"
form_type: "8-K"
ticker: "UNB"
cik: "0000706863"
company_name: "UNION BANKSHARES INC"
filed_at: "2023-04-19T23:59:59+00:00"
generated_at: "2026-06-16T23:59:57.923212+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000706863-23-000023
- form_type: 8-K
- ticker: UNB
- cik: 0000706863
- company_name: UNION BANKSHARES INC
- filed_at: 2023-04-19T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/706863/000070686323000023/0000706863-23-000023-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/706863/000070686323000023/unb-20230419.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000706863-23-000023
- JSON: https://secwatch.observer/filing/0000706863-23-000023.json
- Plain text: https://secwatch.observer/filing/0000706863-23-000023.txt

## Key facts
- Earnings Releases
  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
  source text: 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%.
  evidence_url: https://www.sec.gov/Archives/edgar/data/706863/000070686323000023/0000706863-23-000023-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.