Union Bankshares Q1 net income up 20% to $2.98M; EPS $0.66 vs $0.55

UNION BANKSHARES INC

2023-Q1 EPS reported $0.66

Net income $2.98M, EPS $0.66, vs $2.48M, $0.55 YoY; net interest income $9.975M (+11.3%).
Total assets $1.36B (+10.4%); loans $976.6M (+17.5%); deposits $1.23B incl $108M brokered.
Quarterly dividend $0.36/share declared, payable May 4, 2023 to holders of record Apr 29.
Only 28.5% of deposits uninsured vs 90%+ at failed SVB/Signature; FHLB advances $45.1M.
Management cites unrealized bond losses but ample liquidity; no need for Fed emergency programs.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNION BANKSHARES INC reported the first quarter of 2023 results: net income $2.98 million, EPS $0.66 per share.

Period: the first quarter of 2023
Net income: $2.98 million
EPS: $0.66 per share
Result: reported results

Exact text from the filing

Consolidated net income for the first quarter was $2.98 million, or $0.66 per share compared to $2.48 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 0000706863-23-000025

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