secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0000706863-23-000025
Event type: earnings
Sentiment:  positive
Materiality: 0.50
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000025/0000706863-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000025/unb-20230504.htm
  HTML page:      https://secwatch.observer/filing/0000706863-23-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer