secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2023-10-18T23:59:59+00:00
Accession:  0000706863-23-000061
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Union Bankshares Q3 net income falls 32.6% to $2.5M; declares $0.36 dividend
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- Q3 net income $2.5M ($0.56/diluted share), vs $3.8M ($0.84) in Q3 2022; down 32.6%.
- Nine-month net income $8.2M ($1.82/diluted), vs $9.2M ($2.04) in 2022; down 10.5%.
- Net interest income $9.1M in Q3 2023, down 12.4% from $10.4M in Q3 2022 due to funding cost pressure.
- Total deposits $1.22B, including $153M brokered deposits; FHLB advances $90.7M.
- Quarterly cash dividend of $0.36 per share declared, payable Nov 2 to record Oct 28.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000061/0000706863-23-000061-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000061/unb-20231018.htm
  HTML page:      https://secwatch.observer/filing/0000706863-23-000061

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