Union Bankshares, Inc. (UNB)

Union Bankshares Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019
Period Ending	Sep 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	56.95	49.28	38.36	36.26	34.44	33.21
Interest Income on Investments	7.83	7.83	5.59	3.01	2.32	2.66
Total Interest Income	64.78	57.11	43.95	39.27	36.75	35.87
Interest Paid on Deposits	24.38	15.89	3.52	3.15	4.78	4.73
Interest Paid on Borrowings	3.37	3.37	1	0.42	0.37	0.88
Total Interest Expense	27.76	19.27	4.52	3.57	5.15	5.6
Net Interest Income	37.02	37.84	39.42	35.71	31.6	30.27
Net Interest Income Growth (YoY)	-5.29%	-4.01%	10.41%	12.99%	4.40%	5.84%
Trust Income	1.04	0.94	0.84	0.81	0.71	0.69
Gain (Loss) on Sale of Investments	-1.1	0.19	-0.03	-0.02	0.25	0.16
Other Non-Interest Income	8.51	7.61	7.55	7.22	6.88	6.58
Total Non-Interest Income	9.61	9.9	9.36	12.96	16	10.32
Non-Interest Income Growth (YoY)	3.70%	5.81%	-27.79%	-19.00%	55.01%	11.96%
Revenues Before Loan Losses	46.63	47.75	48.78	48.67	47.61	40.59
Provision for Loan Losses	0.25	-0.5	-	-	2.2	0.78
Revenue	46.39	48.25	48.78	48.67	45.41	39.82
Revenue Growth (YoY)	-4.39%	-1.10%	0.23%	7.19%	14.03%	6.55%
Salaries and Employee Benefits	20.26	19.24	18.67	18.74	17.56	15.87
Occupancy Expenses	1.88	1.78	1.71	1.7	1.6	1.59
Selling, General & Administrative	5.27	5.01	4.96	4.47	4.04	3.41
Other Non-Interest Expense	9.64	9.34	8.3	7.95	6.98	6.61
Total Non-Interest Expense	37.04	35.37	33.63	32.86	30.18	27.47
EBT Excluding Unusual Items	9.34	12.88	15.15	15.82	15.22	12.35
Other Unusual Items	-	-	0.09	-	-	0.13
Pretax Income	9.34	12.88	15.25	15.82	15.22	12.48
Income Tax Expense	0.53	1.62	2.63	2.65	2.42	1.83
Net Income	8.81	11.26	12.62	13.17	12.81	10.65
Net Income to Common	8.81	11.26	12.62	13.17	12.81	10.65
Net Income Growth	-24.40%	-10.76%	-4.21%	2.85%	20.26%	50.57%
Basic Shares Outstanding	5	5	4	4	4	4
Diluted Shares Outstanding	5	5	5	5	4	4
Shares Change (YoY)	0.54%	0.51%	0.12%	0.35%	0.27%	0.35%
EPS (Basic)	1.95	2.50	2.81	2.94	2.86	2.38
EPS (Diluted)	1.93	2.48	2.79	2.92	2.85	2.38
EPS Growth	-24.80%	-11.11%	-4.45%	2.46%	19.75%	50.29%
Dividend Per Share	1.440	1.440	1.400	1.320	1.280	1.240
Dividend Growth	0.70%	2.86%	6.06%	3.13%	3.23%	3.33%
Effective Tax Rate	5.71%	12.58%	17.26%	16.73%	15.89%	14.67%

Source: S&P Capital IQ. Banks template. Financial Sources.