---
schema_version: "secwatch.filing_event.v1"
accession: "0000706863-24-000034"
form_type: "8-K"
ticker: "UNB"
cik: "0000706863"
company_name: "UNION BANKSHARES INC"
filed_at: "2024-04-17T23:59:59+00:00"
generated_at: "2026-06-03T21:55:59.819812+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0000706863-24-000034
- form_type: 8-K
- ticker: UNB
- cik: 0000706863
- company_name: UNION BANKSHARES INC
- filed_at: 2024-04-17T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/706863/000070686324000034/0000706863-24-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/706863/000070686324000034/unb-20240417.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000706863-24-000034
- JSON: https://secwatch.observer/filing/0000706863-24-000034.json
- Plain text: https://secwatch.observer/filing/0000706863-24-000034.txt

## Key facts
- Earnings Releases
  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
  source text: 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
  evidence_url: https://www.sec.gov/Archives/edgar/data/706863/000070686324000034/0000706863-24-000034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.