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Union Bankshares Announces Fourth Quarter Ended December 31, 2017 Earnings and Quarterly Dividend Payment

UNION BANKSHARES (UNB)  More Company Research Source: GlobeNewswire
US:NASDAQ Investor Relations: investors.bankatunion.com
PDF MORRISVILLE, Vt., Jan. 17, 2018 (GLOBE NEWSWIRE) -- Union Bankshares, Inc. (NASDAQ:UNB) today announced results for the three and twelve months ended December 31, 2017. Consolidated net income for the three months ended December 31, 2017 was $1.9 million, or $0.43 per share, compared to $2.3 million, or $0.53 per share, for the same period in 2016, and $8.4 million, or $1.89 per share, for the year ended December 31, 2017, compared to $8.5 million, or $1.91 per share, for the same period in 2016. The decrease in earnings for three and twelve month comparison periods is due to a one-time charge to earnings of $447 thousand for the revaluation of the Company's deferred tax assets as a result of the Tax Cuts and Jobs Act being signed into law on December 22, 2017. Fourth Quarter Highlights Highlights of the three months ended December 31, 2017 compared to the three months ended December 31, 2016 include: Net income before taxes increased $399 thousand, or 14.3% to $ [Read more]

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