Union Bankshares (UNB) 24.45 $UNB
Union Bankshares Announces Second Quarter Ended June 30, 2014 Earnings and Quarterly Dividend Payment
GlobeNewswire - Thu Jul 17, 2:14PM CDT
Union Bankshares, Inc. (Nasdaq:UNB) today announced Net Income for the second quarter 2014 of $1.9 million, or $0.43 per share, compared to $1.8 million, or $0.40 per share, for 2013, an increase of 6.8% quarter over quarter. Results for the second quarter 2014 reflect a year to year increase in net interest income of $189 thousand, or 3.5%, partially offset by a decrease in noninterest income year over year of $10 thousand, an increase in noninterest expenses of $48 thousand, and an increase in the provision for income taxes of $9 thousand. Noninterest expenses increased year over year primarily due to an increase of $65 thousand, or 10.2%, in Pension and employee benefits as a result of increasing health insurance costs of $76 thousand, an increase in the Company's 401k contribution of $74 thousand, offset by an increase in the pension plan benefit of $83 thousand. Equipment expense increased by $22 thousand, or 5.7% due to increased depreciation expense for acquisitions made since June 30, 2013. These increases were partially offset by a decrease in salaries and wages of $41 thousand, or 1.8%.
Nasdaq stocks posting largest volume decreases
AP - Mon Feb 10, 5:45PM CST
NEW YORK (AP) — A look at the 10 biggest volume decliners on Nasdaq at the close of trading:
Mammoth Announces Results from Ground Geophysics Survey Indicating Numerous Targets at Depth Coincident With Surface Mineralization
Marketwire - Thu Jan 16, 1:09PM CST
Mammoth Resources Corp. (TSX VENTURE: MTH) is pleased to report the results of a pole-dipole induced polarization (IP) and magnetic ground geophysics survey at its Tenoriba property located in the state of Chihuahua, Mexico. The magnetic survey has assisted in confirming the presence of east-west, east northeast and locally northwest trending structures (faults) which Mammoth geologists based on their mapping and sampling work has identified as controls for gold-silver mineralization. The IP survey also assisted in identifying these same structures with strike lengths of greater than 100 metres up to as much as 600 metres and in most cases these remain open beyond these lengths. A few of these structures are closely associated to artisanal mine workings (e.g. at El Moreno). These IP axes once more appear to confirm at depth the same features as were identified by company geologists mapping & sampling gold-silver mineralization and alteration controls on surface. Areas of specific interest are identified in Figure 1, Tenoriba Geophysics Survey Results, Zones A, B and C. Additional areas of interest are similarly identified on this figure between and to the north and south of these zones.
Union Bankshares Announces Year Ended and Fourth Quarter Ended December 31, 2013 Earnings and Quarterly Dividend Payment
GlobeNewswire - Wed Jan 15, 2:51PM CST
Union Bankshares, Inc. (Nasdaq:UNB) today announced Net Income for the year ended December 31, 2013 of $7.1 million. The 2013 Net Income represents a 4.3% increase over Net Income for the year ended December 31, 2012 of $6.8 million. Earnings per share as of December 31, 2013 increased to $1.60 per share, compared to $1.54 per share, for 2012. Results for 2013 reflect a year to year increase in net interest income of $345 thousand, or 1.6%, a decrease in the provision for loan losses of $355 thousand, or 53.8%, a decrease in noninterest expenses of $1.8 million, or 7.9%. These positive changes were partially offset by a decrease in noninterest income year over year of $2.0 million, or 19.2% and an increase in income tax expense of $199 thousand, or 12.0%. Noninterest income declined in 2013 compared to 2012 primarily due to a reduction in gain on sale of real estate loans of $1.2 million and a decrease in gain on sale of securities of $673 thousand. Noninterest expenses decreased year over year due to a reduction of $1.1 million, or 28.9%, in Pension and employee benefits as a result of freezing the defined benefit pension plan as of October 5, 2012 partially offset by an increase in 401(k) contribution expense due to the January 1, 2013 implementation of a safe harbor provision in the 401(k) plan, a decrease in Other Expenses of $801 thousand, or 10.6%, which was due to a $450 thousand decrease in the expense of Other Real Estate Owned, and $168 thousand of prepayment penalties incurred when high rate Federal Home Loan Bank advances were prepaid in 2013 versus $890 thousand incurred in 2012.
Union Bankshares Announces First Quarter Ended March 31, 2013 Earnings and Quarterly Dividend Payment
GlobeNewswire - Wed Apr 17, 1:22PM CDT
Union Bankshares, Inc. (Nasdaq:UNB) today announced Net Income for the first quarter 2013 of $1.7 million, or $0.39 per share, compared to $1.2 million, or $0.28 per share, for 2012. The $510 thousand, or 41.6% increase in net income year over year is attributable to an increase in noninterest income of $253 thousand, or 13.3%, a decrease in provision for loan loss of $120 thousand, or 66.7%, and a decrease in noninterest expenses of $362 thousand, or 6.5%. The increase in noninterest income is primarily due to an increase in gain on real estate loans sold to the secondary market of $195 thousand, a $38 thousand increase in other service fee income, and a $16 thousand increase in trust income. Noninterest expenses saw reductions in all categories year over year with the exception of Equipment Expense which increased $81 thousand, or 23.5%, mainly due to software licensing fees, and Other Expenses which increased $22 thousand, or 1.4%. Pension and employee benefit plan expenses decreased $375 thousand, or 35.4%, year over year primarily due to the freezing of the pension plan as of October 5, 2012 partially offset by an increase in 401(k) contribution expense due to the implementation of a safe harbor provision in the 401(k) plan effective January 1, 2013.
Union Bankshares Announces Second Quarter Ended June 30, 2014 Earnings and Quarterly Dividend Payment
GlobeNewswire - Thu Jul 17, 2:14PM CDT
Union Bankshares, Inc. (Nasdaq:UNB) today announced Net Income for the second quarter 2014 of $1.9 million, or $0.43 per share, compared to $1.8 million, or $0.40 per share, for 2013, an increase of 6.8% quarter over quarter. Results for the second quarter 2014 reflect a year to year increase in net interest income of $189 thousand, or 3.5%, partially offset by a decrease in noninterest income year over year of $10 thousand, an increase in noninterest expenses of $48 thousand, and an increase in the provision for income taxes of $9 thousand. Noninterest expenses increased year over year primarily due to an increase of $65 thousand, or 10.2%, in Pension and employee benefits as a result of increasing health insurance costs of $76 thousand, an increase in the Company's 401k contribution of $74 thousand, offset by an increase in the pension plan benefit of $83 thousand. Equipment expense increased by $22 thousand, or 5.7% due to increased depreciation expense for acquisitions made since June 30, 2013. These increases were partially offset by a decrease in salaries and wages of $41 thousand, or 1.8%.
Nasdaq stocks posting largest volume decreases
AP - Mon Feb 10, 5:45PM CST
NEW YORK (AP) — A look at the 10 biggest volume decliners on Nasdaq at the close of trading:
Mammoth Announces Results from Ground Geophysics Survey Indicating Numerous Targets at Depth Coincident With Surface Mineralization
Marketwire - Thu Jan 16, 1:09PM CST
Mammoth Resources Corp. (TSX VENTURE: MTH) is pleased to report the results of a pole-dipole induced polarization (IP) and magnetic ground geophysics survey at its Tenoriba property located in the state of Chihuahua, Mexico. The magnetic survey has assisted in confirming the presence of east-west, east northeast and locally northwest trending structures (faults) which Mammoth geologists based on their mapping and sampling work has identified as controls for gold-silver mineralization. The IP survey also assisted in identifying these same structures with strike lengths of greater than 100 metres up to as much as 600 metres and in most cases these remain open beyond these lengths. A few of these structures are closely associated to artisanal mine workings (e.g. at El Moreno). These IP axes once more appear to confirm at depth the same features as were identified by company geologists mapping & sampling gold-silver mineralization and alteration controls on surface. Areas of specific interest are identified in Figure 1, Tenoriba Geophysics Survey Results, Zones A, B and C. Additional areas of interest are similarly identified on this figure between and to the north and south of these zones.
Union Bankshares Announces Year Ended and Fourth Quarter Ended December 31, 2013 Earnings and Quarterly Dividend Payment
GlobeNewswire - Wed Jan 15, 2:51PM CST
Union Bankshares, Inc. (Nasdaq:UNB) today announced Net Income for the year ended December 31, 2013 of $7.1 million. The 2013 Net Income represents a 4.3% increase over Net Income for the year ended December 31, 2012 of $6.8 million. Earnings per share as of December 31, 2013 increased to $1.60 per share, compared to $1.54 per share, for 2012. Results for 2013 reflect a year to year increase in net interest income of $345 thousand, or 1.6%, a decrease in the provision for loan losses of $355 thousand, or 53.8%, a decrease in noninterest expenses of $1.8 million, or 7.9%. These positive changes were partially offset by a decrease in noninterest income year over year of $2.0 million, or 19.2% and an increase in income tax expense of $199 thousand, or 12.0%. Noninterest income declined in 2013 compared to 2012 primarily due to a reduction in gain on sale of real estate loans of $1.2 million and a decrease in gain on sale of securities of $673 thousand. Noninterest expenses decreased year over year due to a reduction of $1.1 million, or 28.9%, in Pension and employee benefits as a result of freezing the defined benefit pension plan as of October 5, 2012 partially offset by an increase in 401(k) contribution expense due to the January 1, 2013 implementation of a safe harbor provision in the 401(k) plan, a decrease in Other Expenses of $801 thousand, or 10.6%, which was due to a $450 thousand decrease in the expense of Other Real Estate Owned, and $168 thousand of prepayment penalties incurred when high rate Federal Home Loan Bank advances were prepaid in 2013 versus $890 thousand incurred in 2012.
Union Bankshares Announces First Quarter Ended March 31, 2013 Earnings and Quarterly Dividend Payment
GlobeNewswire - Wed Apr 17, 1:22PM CDT
Union Bankshares, Inc. (Nasdaq:UNB) today announced Net Income for the first quarter 2013 of $1.7 million, or $0.39 per share, compared to $1.2 million, or $0.28 per share, for 2012. The $510 thousand, or 41.6% increase in net income year over year is attributable to an increase in noninterest income of $253 thousand, or 13.3%, a decrease in provision for loan loss of $120 thousand, or 66.7%, and a decrease in noninterest expenses of $362 thousand, or 6.5%. The increase in noninterest income is primarily due to an increase in gain on real estate loans sold to the secondary market of $195 thousand, a $38 thousand increase in other service fee income, and a $16 thousand increase in trust income. Noninterest expenses saw reductions in all categories year over year with the exception of Equipment Expense which increased $81 thousand, or 23.5%, mainly due to software licensing fees, and Other Expenses which increased $22 thousand, or 1.4%. Pension and employee benefit plan expenses decreased $375 thousand, or 35.4%, year over year primarily due to the freezing of the pension plan as of October 5, 2012 partially offset by an increase in 401(k) contribution expense due to the implementation of a safe harbor provision in the 401(k) plan effective January 1, 2013.
