secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2023-07-19T23:59:59+00:00
Accession:  0000706863-23-000051
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000051/0000706863-23-000051-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000051/unb-20230719.htm
  HTML page:      https://secwatch.observer/filing/0000706863-23-000051

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