---
schema_version: "secwatch.filing_event.v1"
accession: "0000706863-24-000036"
form_type: "8-K"
ticker: "UNB"
cik: "0000706863"
company_name: "UNION BANKSHARES INC"
filed_at: "2024-05-02T23:59:59+00:00"
generated_at: "2026-06-03T01:06:51.076119+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Union Bankshares Q1 net income falls 19% to $2.41M; EPS $0.53 vs $0.66

## Summary
- Net income of $2.41M vs $2.98M in Q1 2023; diluted EPS $0.53 vs $0.66.
- Net interest income declined $967K to $9.008M; noninterest expense rose $492K to $9.242M.
- Total loans grew 6.6% YoY to $1.04B; total assets up 4.1% to $1.42B.
- Credit loss expense was a benefit of $230K vs expense of $74K a year ago; no charge-offs.
- Board declared $0.36 quarterly dividend payable May 2, 2024 to holders of record April 27.

## SEC filing metadata
- accession: 0000706863-24-000036
- form_type: 8-K
- ticker: UNB
- cik: 0000706863
- company_name: UNION BANKSHARES INC
- filed_at: 2024-05-02T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/706863/000070686324000036/0000706863-24-000036-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/706863/000070686324000036/unb-20240502.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000706863-24-000036
- JSON: https://secwatch.observer/filing/0000706863-24-000036.json
- Plain text: https://secwatch.observer/filing/0000706863-24-000036.txt

## Key facts
- Earnings Releases
  UNION BANKSHARES INC reported the three months ended March 31, 2024 results: net income Consolidated net income for the first quarter was $2.41 million.
  - Period: the three months ended March 31, 2024
  - Net income: Consolidated net income for the first quarter was $2.41 million
  - Result: reported results
  source text: On May 2, 2024, Union Bankshares, Inc (the "Company") distributed its First Quarter 2024 unaudited Report to Shareholders (the "Quarterly Report") presenting information concerning the Company's results of operations and financial condition for the three months ended March 31, 2024
  evidence_url: https://www.sec.gov/Archives/edgar/data/706863/000070686324000036/0000706863-24-000036-index.htm

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