Union Bankshares Q2 net income down 7.9% to $2.7M; EPS $0.60; declares $0.36 dividend

UNION BANKSHARES INC

2023-Q2 EPS reported $1.26

Q2 2023 net income $2.7M ($0.60 EPS) vs $2.9M ($0.65 EPS) a year ago, a decrease of $232K.
Net interest income $9.6M, down 0.5% YoY; interest expense rose 384.9% in first half due to higher rates.
Total assets $1.3B, loans $940.2M; deposits $1.1B including $138M brokered deposits and $120.5M FHLB advances.
Vermont floods closed one branch (Johnson); reopened Jeffersonville via drive-up; assisting customers.
Quarterly cash dividend of $0.36/share declared, payable Aug 3, 2023 to holders of record Jul 29.

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 June 30, 2023 results: revenue $9.6 million, net income $2.7 million, EPS $0.60 per share.

Period: the three months ended June 30, 2023
Revenue: $9.6 million
Net income: $2.7 million
EPS: $0.60 per share
Result: reported results

Exact text from the filing

in noninterest income of $203 thousand, a reduction of $96 thousand in credit loss expense and a decrease in income tax expense of $175 thousand. Net interest income was $9.6 million for the three months ended June 30, 2023 compared to $9.7 million for the three months ended June 30, 2022, a decrease of $53 thousand, or 0.5%. Interest income was $13.8 million

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNION BANKSHARES INC reported the six months ended June 30, 2023 results: revenue $26.8 million, net income $5.7 million, EPS $1.26 per share.

Period: the six months ended June 30, 2023
Revenue: $26.8 million
Net income: $5.7 million
EPS: $1.26 per share
Result: reported results

Exact text from the filing

loss expense of $22 thousand, and a decrease of $138 thousand in income tax expense, partially offset by an increase in noninterest expenses of $1.1 million. Interest income was $26.8 million for the six months ended June 30, 2023 compared to $20.1 million for the comparable period in 2022, an increase of $6.7 million, or 33.4%, due to a larger earning asset base and

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19 earnings releases filed in the last 30 days. Browse all earnings releases →

UNION BANKSHARES INC filing history →

Source: SEC EDGAR

accession 0000706863-23-000051

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