secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2023-04-19T23:59:59+00:00
Accession:  0000706863-23-000023
Event type: earnings
Sentiment:  neutral
Materiality: 0.55
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000023/0000706863-23-000023-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000023/unb-20230419.htm
  HTML page:      https://secwatch.observer/filing/0000706863-23-000023

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