Union Bankshares Q3 net income down 48% to $1.3M; declares $0.36 dividend

UNION BANKSHARES INC

2024-Q3 EPS reported $1.27

Q3 2024 net income $1.3M ($0.29 EPS) vs $2.5M ($0.56 EPS) in Q3 2023, down 48%.
Sale of $38.8M lower-yielding securities for $1.3M pre-tax loss drove earnings decline.
Total assets $1.52B (+8.9% YoY); loans $1.13B; deposits $1.17B.
Dividend $0.36/share declared, payable Nov 7 to holders of record Oct 26.
Credit loss expense $425K vs benefit $139K in prior year, due to loan growth, not deterioration.

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