Union Bankshares Q1 net income falls 18.8% to $2.4M; declares $0.36 dividend

UNION BANKSHARES INC

2024-Q1 EPS reported $0.53

Net income $2.4M ($0.53/diluted EPS) vs $3.0M ($0.66) in Q1 2023, down 18.8%.
Net interest income $9.0M, down 9.7% YoY; interest expense surged $3.5M due to higher-cost wholesale funding.
Total assets $1.42B (+4.1% YoY); loans $1.04B; deposits $1.17B including $100M brokered deposits.
Quarterly dividend $0.36/share, payable May 2, 2024 to holders of record Apr 27, 2024.
Unrealized losses on AFS securities $44.7M; book value per share $14.12 vs $13.44 a year ago.

item 2.02 item 8.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNION BANKSHARES INC reported the three months ended March 31, 2024 results: net income $2.4 million, EPS $0.53 per share.

Period: the three months ended March 31, 2024
Net income: $2.4 million
EPS: $0.53 per share
Result: reported results

Exact text from the filing

Union Bankshares, Inc. (NASDAQ - UNB) today announced results for the three months ended March 31, 2024 and declared a regular quarterly cash dividend. Consolidated net income for the three months ended March 31, 2024 was $2.4 million, or $0.53 per share

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Source: SEC EDGAR

accession 0000706863-24-000034

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