$UNB
Union Bankshares Inc

2011 Q2 Form 10-Q Financial Statement

#000070686311000018 Filed on August 15, 2011

View on sec.gov

Income Statement

Concept 2011 Q2 2010 Q2
Revenue $5.734M $5.721M
YoY Change 0.23%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin
YoY Change
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $170.0K $160.0K
YoY Change 6.25% -11.11%
% of Gross Profit
Operating Expenses
YoY Change
Operating Profit
YoY Change
Interest Expense $1.002M $1.036M
YoY Change -3.28%
% of Operating Profit
Other Income/Expense, Net
YoY Change
Pretax Income $1.220M $2.001M
YoY Change -39.03% 33.4%
Income Tax $189.0K $475.0K
% Of Pretax Income 15.49% 23.74%
Net Earnings $1.031M $1.526M
YoY Change -32.44% 23.06%
Net Earnings / Revenue 17.98% 26.67%
Basic Earnings Per Share $0.23 $0.34
Diluted Earnings Per Share $228.4K $339.2K
COMMON SHARES
Basic Shares Outstanding 4.457M shares 4.460B shares
Diluted Shares Outstanding

Balance Sheet

Concept 2011 Q2 2010 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments
YoY Change
Cash & Equivalents
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets
YoY Change
LONG-TERM ASSETS
Property, Plant & Equipment $8.722M $8.000M
YoY Change 9.03% 5.26%
Goodwill $2.230M
YoY Change
Intangibles
YoY Change
Long-Term Investments
YoY Change
Other Assets
YoY Change
Total Long-Term Assets
YoY Change
TOTAL ASSETS
Total Short-Term Assets
Total Long-Term Assets
Total Assets $513.6M $427.9M
YoY Change 20.02% 0.71%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $6.200M $3.100M
YoY Change 100.0% -31.11%
Deferred Revenue
YoY Change
Short-Term Debt $32.60M $25.60M
YoY Change 27.34% -10.18%
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.200M $3.100M
YoY Change 100.0% -31.11%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $3.000M
YoY Change -33.33%
Total Long-Term Liabilities $0.00 $3.000M
YoY Change -100.0% -33.33%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.200M $3.100M
Total Long-Term Liabilities $0.00 $3.000M
Total Liabilities $471.7M $385.9M
YoY Change 22.24% 0.16%
SHAREHOLDERS EQUITY
Retained Earnings $37.45M
YoY Change
Common Stock $9.847M
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost) $3.823M
YoY Change
Treasury Stock Shares 466.1K shares
Shareholders Equity $41.85M $41.92M
YoY Change
Total Liabilities & Shareholders Equity $513.6M $427.9M
YoY Change 20.02% 0.71%

Cashflow Statement

Concept 2011 Q2 2010 Q2
OPERATING ACTIVITIES
Net Income $1.031M $1.526M
YoY Change -32.44% 23.06%
Depreciation, Depletion And Amortization $170.0K $160.0K
YoY Change 6.25% -11.11%
Cash From Operating Activities -$530.0K $7.790M
YoY Change -106.8% -164.22%
INVESTING ACTIVITIES
Capital Expenditures -$470.0K -$170.0K
YoY Change 176.47% -63.83%
Acquisitions
YoY Change
Other Investing Activities $14.46M $6.560M
YoY Change 120.43% 30.68%
Cash From Investing Activities $14.00M $6.390M
YoY Change 119.09% 40.75%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -13.51M -13.76M
YoY Change -1.82% -987.74%
NET CHANGE
Cash From Operating Activities -530.0K 7.790M
Cash From Investing Activities 14.00M 6.390M
Cash From Financing Activities -13.51M -13.76M
Net Change In Cash -40.00K 420.0K
YoY Change -109.52% -106.95%
FREE CASH FLOW
Cash From Operating Activities -$530.0K $7.790M
Capital Expenditures -$470.0K -$170.0K
Free Cash Flow -$60.00K $7.960M
YoY Change -100.75% -168.27%

Facts In Submission

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CY2010Q2 us-gaap Occupancy Net
OccupancyNet
221000 USD
us-gaap Occupancy Net
OccupancyNet
476000 USD
CY2011Q2 us-gaap Occupancy Net
OccupancyNet
261000 USD
us-gaap Occupancy Net
OccupancyNet
551000 USD
CY2010Q4 us-gaap Other Assets
OtherAssets
12664000 USD
CY2011Q2 us-gaap Other Assets
OtherAssets
13677000 USD
us-gaap Other Comprehensive Income Available For Sale Securities Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease
222000 USD
us-gaap Other Comprehensive Income Available For Sale Securities Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeAvailableForSaleSecuritiesAdjustmentNetOfTaxPeriodIncreaseDecrease
204000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
63000 USD
us-gaap Other Comprehensive Income Defined Benefit Plans Adjustment Net Of Tax Period Increase Decrease
OtherComprehensiveIncomeDefinedBenefitPlansAdjustmentNetOfTaxPeriodIncreaseDecrease
49000 USD
CY2010Q2 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1338000 USD
CY2011Q2 us-gaap Other Noninterest Expense
OtherNoninterestExpense
1503000 USD
us-gaap Other Noninterest Expense
OtherNoninterestExpense
2595000 USD
us-gaap Other Noninterest Expense
OtherNoninterestExpense
2912000 USD
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
17074000 USD
us-gaap Payments For Origination And Purchases Of Loans Held For Sale
PaymentsForOriginationAndPurchasesOfLoansHeldForSale
27932000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
-9380000 USD
us-gaap Payments For Proceeds From Loans And Leases
PaymentsForProceedsFromLoansAndLeases
14000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
0 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1596000 USD
CY2010Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
674000 USD
us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
1434000 USD
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
54000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2228000 USD
us-gaap Payments Of Dividends Common Stock
PaymentsOfDividendsCommonStock
2231000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
14440000 USD
us-gaap Payments To Acquire Available For Sale Securities
PaymentsToAcquireAvailableForSaleSecurities
2014000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
2000000 USD
us-gaap Payments To Acquire Held To Maturity Securities
PaymentsToAcquireHeldToMaturitySecurities
3500000 USD
us-gaap Payments To Acquire Limited Partnership Interests
PaymentsToAcquireLimitedPartnershipInterests
179000 USD
us-gaap Payments To Acquire Limited Partnership Interests
PaymentsToAcquireLimitedPartnershipInterests
919000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
698000 USD
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
661000 USD
CY2011Q2 us-gaap Pension And Other Postretirement Benefit Expense
PensionAndOtherPostretirementBenefitExpense
779000 USD
us-gaap Pension Contributions
PensionContributions
1250000 USD
us-gaap Pension Contributions
PensionContributions
154000 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
0 USD
us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
26000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
1840000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Available For Sale Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfAvailableForSaleSecurities
3363000 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
0 USD
us-gaap Proceeds From Maturities Prepayments And Calls Of Held To Maturity Securities
ProceedsFromMaturitiesPrepaymentsAndCallsOfHeldToMaturitySecurities
500000 USD
us-gaap Proceeds From Recoveries Of Loans Previously Charged Off
ProceedsFromRecoveriesOfLoansPreviouslyChargedOff
-33000 USD
us-gaap Proceeds From Recoveries Of Loans Previously Charged Off
ProceedsFromRecoveriesOfLoansPreviouslyChargedOff
-29000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
4076000 USD
us-gaap Proceeds From Repayments Of Short Term Debt
ProceedsFromRepaymentsOfShortTermDebt
-4665000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
658000 USD
us-gaap Proceeds From Sale Of Available For Sale Securities
ProceedsFromSaleOfAvailableForSaleSecurities
0 USD
us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
4000 USD
us-gaap Proceeds From Sale Of Foreclosed Assets
ProceedsFromSaleOfForeclosedAssets
20000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
30929000 USD
us-gaap Proceeds From Sale Of Loans Held For Sale
ProceedsFromSaleOfLoansHeldForSale
24052000 USD
us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
625000 USD
us-gaap Proceeds From Sale Of Wholly Owned Real Estate And Real Estate Acquired In Settlement Of Loans
ProceedsFromSaleOfWhollyOwnedRealEstateAndRealEstateAcquiredInSettlementOfLoans
321000 USD
CY2010Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
7842000 USD
CY2011Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
8722000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
300000 USD
unb Loans Originated To Finance Sale Of Other Real Estate
LoansOriginatedToFinanceSaleOfOtherRealEstate
320000 USD
CY2011Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
150000 USD
us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
180000 USD
CY2010Q2 us-gaap Provision For Loan And Lease Losses
ProvisionForLoanAndLeaseLosses
90000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
774000 USD
us-gaap Repayments Of Long Term Debt
RepaymentsOfLongTermDebt
492000 USD
CY2010Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
37623000 USD
CY2011Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
37454000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
1000 USD
us-gaap Share Based Compensation
ShareBasedCompensation
13000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
13000 USD
us-gaap Stock Granted During Period Value Sharebased Compensation
StockGrantedDuringPeriodValueSharebasedCompensation
1000 USD
us-gaap Stock Issued During Period Value New Issues
StockIssuedDuringPeriodValueNewIssues
26000 USD
CY2010Q4 us-gaap Stockholders Equity
StockholdersEquity
41725000 USD
CY2011Q2 us-gaap Stockholders Equity
StockholdersEquity
41850000 USD
CY2010Q2 us-gaap Stockholders Equity
StockholdersEquity
41924000 USD
CY2009Q4 us-gaap Stockholders Equity
StockholdersEquity
41180000 USD
CY2010Q4 us-gaap Time Deposits
TimeDeposits
131748000 USD
CY2011Q2 us-gaap Time Deposits
TimeDeposits
140169000 USD
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
584000 USD
us-gaap Transfer Of Other Real Estate
TransferOfOtherRealEstate
0 USD
CY2010Q4 us-gaap Treasury Stock Shares
TreasuryStockShares
466082 shares
CY2011Q2 us-gaap Treasury Stock Shares
TreasuryStockShares
466082 shares
CY2011Q2 us-gaap Treasury Stock Value
TreasuryStockValue
3823000 USD
CY2010Q4 us-gaap Treasury Stock Value
TreasuryStockValue
3823000 USD
us-gaap Treasury Stock Value Acquired Cost Method
TreasuryStockValueAcquiredCostMethod
-54000 USD
CY2010Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4460064000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4456475000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4460412000 shares
CY2011Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
4457204000 shares
CY2011Q2 unb Accrued Interest And Other Liabilities
AccruedInterestAndOtherLiabilities
6171000 USD
CY2010Q4 unb Accrued Interest And Other Liabilities
AccruedInterestAndOtherLiabilities
5624000 USD
CY2010Q2 unb Employee Compensation
EmployeeCompensation
1592000 USD
unb Employee Compensation
EmployeeCompensation
3157000 USD
unb Employee Compensation
EmployeeCompensation
3622000 USD
CY2011Q2 unb Employee Compensation
EmployeeCompensation
1892000 USD
CY2010Q4 unb Interest Bearing Non Time Deposits
InterestBearingNonTimeDeposits
180386000 USD
unb Increase In Capital Contributions Payable For Limited Partnership Investments
IncreaseInCapitalContributionsPayableForLimitedPartnershipInvestments
0 USD
unb Increase In Capital Contributions Payable For Limited Partnership Investments
IncreaseInCapitalContributionsPayableForLimitedPartnershipInvestments
645000 USD
CY2011Q2 unb Interest Bearing Non Time Deposits
InterestBearingNonTimeDeposits
227919000 USD
unb Loans Originated To Finance Sale Of Other Real Estate
LoansOriginatedToFinanceSaleOfOtherRealEstate
368000 USD
unb Net Change Interest Bearing Non Time Deposits
NetChangeInterestBearingNonTimeDeposits
-19482000 USD
unb Net Change Interest Bearing Non Time Deposits
NetChangeInterestBearingNonTimeDeposits
7507000 USD
unb Net Change Noninterest Bearing Deposits
NetChangeNoninterestBearingDeposits
350000 USD
unb Net Change Noninterest Bearing Deposits
NetChangeNoninterestBearingDeposits
-7122000 USD
unb Payments For Interest Bearing Deposits In Banks
PaymentsForInterestBearingDepositsInBanks
5870000 USD
unb Payments For Interest Bearing Deposits In Banks
PaymentsForInterestBearingDepositsInBanks
4276000 USD
unb Proceeds From Interest Bearing Deposits In Banks
ProceedsFromInterestBearingDepositsInBanks
4008000 USD
unb Proceeds From Interest Bearing Deposits In Banks
ProceedsFromInterestBearingDepositsInBanks
10292000 USD
CY2011Q2 unb Service Fees
ServiceFees
1047000 USD
unb Service Fees
ServiceFees
1984000 USD
CY2010Q2 unb Service Fees
ServiceFees
1020000 USD
unb Service Fees
ServiceFees
2053000 USD
unb Transfer Of Other Assets
TransferOfOtherAssets
0 USD
unb Transfer Of Other Assets
TransferOfOtherAssets
18000 USD
dei Amendment Flag
AmendmentFlag
false
dei Current Fiscal Year End Date
CurrentFiscalYearEndDate
--12-31
dei Document Fiscal Period Focus
DocumentFiscalPeriodFocus
Q2
dei Document Fiscal Year Focus
DocumentFiscalYearFocus
2011
dei Document Period End Date
DocumentPeriodEndDate
2011-06-30
dei Document Type
DocumentType
10-Q
dei Entity Central Index Key
EntityCentralIndexKey
0000706863
CY2011Q3 dei Entity Common Stock Shares Outstanding
EntityCommonStockSharesOutstanding
4457204 shares
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
dei Entity Filer Category
EntityFilerCategory
Smaller Reporting Company
dei Entity Registrant Name
EntityRegistrantName
UNION BANKSHARES INC
dei Entity Voluntary Filers
EntityVoluntaryFilers
No
dei Entity Well Known Seasoned Issuer
EntityWellKnownSeasonedIssuer
No

Files In Submission

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0000706863-11-000018-index-headers.html Edgar Link pending
0000706863-11-000018-index.html Edgar Link pending
0000706863-11-000018.txt Edgar Link pending
0000706863-11-000018-xbrl.zip Edgar Link pending
a63011exhibit311.htm Edgar Link pending
a63011exhibit312.htm Edgar Link pending
a63011exhibit321.htm Edgar Link pending
a63011exhibit322.htm Edgar Link pending
a63011unb10-q.htm Edgar Link pending
FilingSummary.xml Edgar Link unprocessable
Financial_Report.xls Edgar Link pending
R1.htm Edgar Link pending
R10.htm Edgar Link pending
R11.htm Edgar Link pending
R12.htm Edgar Link pending
R13.htm Edgar Link pending
R14.htm Edgar Link pending
R15.htm Edgar Link pending
R16.htm Edgar Link pending
R17.htm Edgar Link pending
R18.htm Edgar Link pending
R19.htm Edgar Link pending
R2.htm Edgar Link pending
R3.htm Edgar Link pending
R4.htm Edgar Link pending
R5.htm Edgar Link pending
R6.htm Edgar Link pending
R7.htm Edgar Link pending
R8.htm Edgar Link pending
R9.htm Edgar Link pending
report.css Edgar Link pending
Show.js Edgar Link pending
unb-20110630.xml Edgar Link completed
unb-20110630.xsd Edgar Link pending
unb-20110630_cal.xml Edgar Link unprocessable
unb-20110630_def.xml Edgar Link unprocessable
unb-20110630_lab.xml Edgar Link unprocessable
unb-20110630_pre.xml Edgar Link unprocessable