Union Bankshares Q2 net income rises 18.6%
Overview
Union Bankshares Q2 Consolidated net income rises 18.6% yr/yr
Total assets increase 5.9% yr/yr, primarily due to 9.8% loan growth
Company declares regular quarterly cash dividend of $0.36 per share
Outlook
Company cites economic uncertainty in future
Union Bankshares highlights strong asset quality amid economic uncertainties
Result Drivers
LOAN GROWTH - Total loans increased by 9.8%, driving asset growth, per company statement
INTEREST INCOME - Interest income rose 13.1% due to higher yields on earning assets, according to company
ASSET QUALITY - Strong asset quality maintained with minimal past due loans, despite economic uncertainties
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS |
| $0.53 |
|
Q2 Net Income |
| $2.40 mln |
|
Q2 Dividend |
| $0.36 |
|
Press Release: ID:nGNXdYwxd
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