secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2023-11-02T23:59:59+00:00
Accession:  0000706863-23-000063
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Union Bankshares Q3 net income falls 33% to $2.5M; EPS $0.56 vs $0.84
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- Net income $2.5M ($0.56 EPS) vs $3.8M ($0.84) Q3 2022; 9 months $8.2M ($1.82) vs $9.2M ($2.04).
- Net interest income fell to $9.1M from $10.4M YoY; higher funding costs from rate increases and deposit outflows.
- Total assets rose 7.3% to $1.4B; loans up to $1.0B; deposits $1.22B including $153M brokered deposits.
- Board declared $0.36 per share quarterly dividend, payable Nov 2 to holders of record Oct 28.
- Company opened full-service branch in North Conway, NH; July flood damage to two branches not material.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000063/0000706863-23-000063-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686323000063/unb-20231102.htm
  HTML page:      https://secwatch.observer/filing/0000706863-23-000063

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