Union Bankshares Q2 net income falls 25% YoY to $2.0M; declares $0.36 dividend

UNION BANKSHARES INC

2024-Q2 EPS reported $0.98

Q2 net income of $2.0M ($0.45 EPS) vs $2.7M ($0.60 EPS) a year ago; H1 net income $4.4M ($0.98 EPS) vs $5.7M ($1.26 EPS).
Quarterly dividend of $0.36 per share declared, payable Aug 1, 2024 to holders of record July 27, 2024.
Loan asset quality remains very strong with low delinquencies; no material impact expected from recent Vermont flooding.
Funding costs persistently high due to Fed rate hold; management expects no material improvement in cost of funds until 2025.

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