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	Jun 30, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020	Dec 31, 2019
Interest Income on Loans	54.11	49.28	38.36	36.26	34.44	33.21
Interest Income on Investments	8.32	7.83	5.59	3.01	2.32	2.66
Total Interest Income	62.44	57.11	43.95	39.27	36.75	35.87
Interest Paid on Deposits	20.27	15.89	3.52	3.15	4.78	4.73
Interest Paid on Borrowings	5.42	3.37	1	0.42	0.37	0.88
Total Interest Expense	25.69	19.27	4.52	3.57	5.15	5.6
Net Interest Income	36.74	37.84	39.42	35.71	31.6	30.27
Net Interest Income Growth (YoY)	-9.02%	-4.01%	10.41%	12.99%	4.40%	5.84%
Trust Income	1.02	0.94	0.84	0.81	0.71	0.69
Gain (Loss) on Sale of Investments	0.22	0.19	-0.03	-0.02	0.25	0.16
Other Non-Interest Income	7.94	7.61	7.55	7.22	6.88	6.58
Total Non-Interest Income	10.47	9.9	9.36	12.96	16	10.32
Non-Interest Income Growth (YoY)	7.86%	5.81%	-27.79%	-19.00%	55.01%	11.96%
Revenues Before Loan Losses	47.21	47.75	48.78	48.67	47.61	40.59
Provision for Loan Losses	-0.32	-0.5	-	-	2.2	0.78
Revenue	47.53	48.25	48.78	48.67	45.41	39.82
Revenue Growth (YoY)	-5.15%	-1.10%	0.23%	7.19%	14.03%	6.55%
Salaries and Employee Benefits	19.59	19.24	18.67	18.74	17.56	15.87
Occupancy Expenses	1.83	1.78	1.71	1.7	1.6	1.59
Selling, General & Administrative	5.33	5.01	4.96	4.47	4.04	3.41
Other Non-Interest Expense	9.82	9.34	8.3	7.95	6.98	6.61
Total Non-Interest Expense	36.56	35.37	33.63	32.86	30.18	27.47
EBT Excluding Unusual Items	10.97	12.88	15.15	15.82	15.22	12.35
Other Unusual Items	-	-	0.09	-	-	0.13
Pretax Income	10.97	12.88	15.25	15.82	15.22	12.48
Income Tax Expense	0.95	1.62	2.63	2.65	2.42	1.83
Net Income	10.02	11.26	12.62	13.17	12.81	10.65
Net Income to Common	10.02	11.26	12.62	13.17	12.81	10.65
Net Income Growth	-22.22%	-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)	0.66%	0.51%	0.12%	0.35%	0.27%	0.35%
EPS (Basic)	2.22	2.50	2.81	2.94	2.86	2.38
EPS (Diluted)	2.20	2.48	2.79	2.92	2.85	2.38
EPS Growth	-22.78%	-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	1.41%	2.86%	6.06%	3.13%	3.23%	3.33%
Effective Tax Rate	8.68%	12.58%	17.26%	16.73%	15.89%	14.67%

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