UNION BANKSHARES INC
For the period ended Mar 31, 2024. Filed May 14, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 14, 2024
UNB$22.96+0.9%Stored close · as of Nov 6, 2026
Contents
Consolidated Balance Sheets
| March 31, 2024 | December 31, 2023 | |
|---|---|---|
| (Unaudited) | ||
| Assets · (Dollars in thousands) | ||
| Cash and due from banks | $4,123 | $4,429 |
| Federal funds sold and overnight deposits | 18,536 | 73,237 |
| Cash and cash equivalents | 22,659 | 77,666 |
| Interest bearing deposits in banks | 14,441 | 14,690 |
| Investment securities available-for-sale | 257,650 | 264,383 |
| Other investments | 1,631 | 1,500 |
| Total investments | 259,281 | 265,883 |
| Loans held for sale | 3,415 | 3,070 |
| Loans | 1,034,169 | 1,028,270 |
| Allowance for credit losses on loans | (6,645) | (6,566) |
| Net deferred loan costs | 1,807 | 1,752 |
| Net loans | 1,029,331 | 1,023,456 |
| Premises and equipment, net | 20,738 | 20,771 |
| Other assets | 67,732 | 63,343 |
| Total assets | $1,417,597 | $1,468,879 |
| Liabilities and Stockholders’ Equity | ||
| Liabilities | ||
| Deposits | ||
| Noninterest bearing | $222,128 | $250,992 |
| Interest bearing | 649,898 | 765,689 |
| Time | 299,618 | 288,922 |
| Total deposits | 1,171,644 | 1,305,603 |
| Borrowed funds | 150,696 | 65,696 |
| Subordinated notes | 16,247 | 16,239 |
| Accrued interest and other liabilities | 15,190 | 15,534 |
| Total liabilities | 1,353,777 | 1,403,072 |
| Commitments and Contingencies | ||
| Stockholders’ Equity | ||
| Common stock, $2.00 par value; 7,500,000 shares authorized; 4,995,348 shares issued at March 31, 2024 and December 31, 2023 | 9,991 | 9,991 |
| Additional paid-in capital | 2,778 | 2,621 |
| Retained earnings | 90,262 | 89,472 |
| Treasury stock at cost; 475,960 shares at March 31, 2024 and 476,500 shares at December 31, 2023 | (4,317) | (4,322) |
| Accumulated other comprehensive loss | (34,894) | (31,955) |
| Total stockholders' equity | 63,820 | 65,807 |
| Total liabilities and stockholders' equity | $1,417,597 | $1,468,879 |
Union Bankshares, Inc. Page 1
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