secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2024-04-17T23:59:59+00:00
Accession:  0000706863-24-000034
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 Q1 net income falls 18.8% to $2.4M; declares $0.36 dividend
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686324000034/0000706863-24-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686324000034/unb-20240417.htm
  HTML page:      https://secwatch.observer/filing/0000706863-24-000034

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