secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2024-08-01T23:59:59+00:00
Accession:  0000706863-24-000062
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686324000062/0000706863-24-000062-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686324000062/unb-20240801.htm
  HTML page:      https://secwatch.observer/filing/0000706863-24-000062

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