secwatch.observer — SEC 8-K summary
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Issuer:     UNION BANKSHARES INC (UNB)
CIK:        0000706863
Form:       8-K
Filed at:   2025-01-15T23:59:59+00:00
Accession:  0000706863-25-000002
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Union Bankshares Q4 net income $3.0M ($0.67/sh); FY net income $8.8M, down 22% YoY
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- Full-year 2024 net income $8.8M ($1.94/sh) vs $11.3M ($2.50/sh) in 2023; Q4 net income $3.0M ($0.67/sh) vs $3.05M ($0.68/sh).
- Loan portfolio grew 12.6% to $1.16B; deposits fell to $1.17B from $1.31B due to elimination of $153M brokered deposits.
- Pre-tax loss of $1.3M from Q3 strategic bond sale lowered 2024 earnings; credit loss expense rose to $930K from a $499K benefit.
- Quarterly dividend declared at $0.36/sh, payable Feb 6, 2025 to shareholders of record Jan 25, 2025.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/706863/000070686325000002/0000706863-25-000002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/706863/000070686325000002/unb-20250115.htm
  HTML page:      https://secwatch.observer/filing/0000706863-25-000002

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