secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2024-10-16T23:59:59+00:00
Accession:  0000706863-24-000069
Event type: earnings
Sentiment:  negative
Materiality: 0.60
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686324000069/0000706863-24-000069-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686324000069/unb-20241016.htm
  HTML page:      https://secwatch.observer/filing/0000706863-24-000069

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