Union Bankshares, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 04:31 pm EDT
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Union Bankshares, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported net interest income was USD 9.15 million compared to USD 10.44 million a year ago. Net income was USD 2.53 million compared to USD 3.76 million a year ago. Basic earnings per share from continuing operations was USD 0.56 compared to USD 0.84 a year ago.
For the nine months, net interest income was USD 28.74 million compared to USD 29.07 million a year ago. Net income was USD 8.21 million compared to USD 9.17 million a year ago. Basic earnings per share from continuing operations was USD 1.82 compared to USD 2.04 a year ago.
Union Bankshares, Inc. is a one-bank holding company whose sole subsidiary is Union Bank. Its business is that of a community bank in the financial services industry. The Union Bank provides full retail, commercial, municipal banking, and wealth management and trust services. It is providing retail banking services to individuals and commercial banking services to small and medium sized business corporations, limited liability companies, partnerships, and sole proprietorships, and nonprofit organizations, local municipalities and school districts within its market area. Its products and services include commercial loans for business purposes to business owners and investors for plant and equipment, working capital, real estate renovation and other sound business purposes; commercial real estate loans on income producing properties, including commercial construction loans; online mortgage applications; business checking accounts; online consumer deposit account opening, and others.