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As-Reported Financial

As Reported Financials

Document Name As Of Date Currency Code (in thousands) 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD
Document Name As Of Date Currency Code 2015 Y 10-K 12/31/2015 USD 2016 Y 10-K 12/31/2016 USD 2017 Y 10-K 12/31/2017 USD 2018 Y 10-K 12/31/2018 USD 2019 Q3 YTD 10-Q 9/30/2019 USD

Cash Flows From Operating Activities

Net income 7,878 8,511 8,449 7,072 7,889

Adjustments to reconcile net income to net cash provided by operating activities

Depreciation 1,080 1,255 1,223 1,216 1,122
Provision for loan losses 550 150 200 450 350
Deferred income tax credit 341 566 993 (508) (26)
Net amortization of investment securities 214 384 423 390 305
Equity in losses of limited partnerships 484 565 627 591 534
Stock based compensation expense 35 66 104 120 144
Net increase in unamortized loan costs (160) (134) (146) (143) (50)
Proceeds from sales of loans held for sale 134,578 138,443 124,514 118,557 103,207
Origination of loans held for sale (126,599) (137,713) (122,355) (111,662) (111,988)
Net gains on sales of loans held for sale (2,871) (2,898) (2,303) (1,847) (1,881)
Net gain on disposals of premises and equipment 7 13 34 (168) 0
Net gain on sales of investment securities available-for-sale (53) (71) (17) (10) (8)
Write-downs of impaired assets 42 NA NA NA NA
Net gain on sales of other real estate owned (29) 0 0 (11) 0
Decrease (increase) in accrued interest receivable 22 (427) (241) (312) 110
Amortization of core deposit intangible 171 171 171 171 129
Increase in other assets (1,387) (1,202) (1,323) (685) (851)
Contribution to defined benefit pension plan 0 (750) (750) (850) 0
Pension plan termination expense NA 0 0 4,631 NA
Increase in other liabilities (1,173) 715 265 (241) 2,478
Net cash provided by operating activities 13,130 7,644 9,868 16,761 1,464

Cash Flows From Investing Activities

Interest bearing deposits in banks

Proceeds from maturities and redemptions 3,579 4,244 4,882 3,784 2,487
Purchases (4,080) (996) (4,730) (3,732) (249)

Investment securities held-to-maturity

Proceeds from maturities, calls and paydowns 2,000 4,220 0 1,000 0

Investment securities available-for-sale

Proceeds from sales 11,540 6,620 14,409 1,060 8,785
Proceeds from maturities, calls and paydowns 7,020 9,754 6,926 5,593 6,567
Purchases (27,416) (29,098) (21,001) (16,434) (24,752)

Other investments

Proceeds from sales NA 0 0 44 47
Purchases NA 0 0 (79) (103)
Net increase in nonmarketable stock NA (421) 23 (46) (231)
Purchase of nonmarketable stock (269) NA NA NA NA
Redemption of nonmarketable stock 389 NA NA NA NA
Net increase in loans (20,713) (32,947) (53,568) (56,003) (15,746)
Recoveries of loans charged off 83 59 168 38 10
Purchases of premises and equipment (2,289) (1,938) (1,987) (3,070) (6,070)
Purchase of Company-owned life insurance (5,000) NA NA NA (3,000)
Proceeds from Company-owned life insurance death benefit 0 527 0 307 0
Investments in limited partnerships (32) (948) (465) (694) (1,803)
Proceeds from sales of premises and equipment 0 200 0 204 0
Proceeds from sales of other real estate owned 342 0 0 47 0
Net cash used in investing activities (34,846) (40,724) (55,343) (67,981) (34,058)

Cash Flows From Financing Activities

Advances on long-term borrowings 0 25,451 10,000 7,000 150,000
Repayment of long-term debt (294) (2,898) (10,279) (19,765) (130,287)
Net (decrease) increase in short-term borrowings outstanding (5,260) (522) 265 9,005 (370)
Net increase (decrease) in noninterest bearing deposits 9,441 12,558 15,440 5,147 4,268
Net decrease in interest bearing deposits 7,481 71,880 36,538 26,101 (25,076)
Net increase in time deposits (8,578) (47,186) (2,064) 27,948 30,767
Issuance of common stock 53 56 19 0 44
Purchase of treasury stock (94) (6) (60) (107) (13)
Dividends paid (4,816) (4,939) (5,151) (5,328) (4,128)
Net cash provided by financing activities (2,067) 54,394 44,708 50,001 25,205
Net decrease in cash and cash equivalents (23,783) 21,314 (767) (1,219) (7,389)

Cash and cash equivalents

Beginning of period 41,744 17,961 39,275 38,508 37,289
End of period 17,961 39,275 38,508 37,289 29,900

Supplemental Disclosures of Cash Flow Information

Interest paid 2,060 2,239 2,249 3,476 3,787
Income taxes paid 2,040 1,505 1,520 1,550 575

Supplemental Schedule of Noncash Investing Activities

Other real estate acquired in settlement of loans 59 0 36 0 NA
Investment in limited partnerships acquired by capital contributions payable 0 27 546 1,321 619
Right-of-use operating lease assets obtained in exchange for operating lease liabilities NA NA NA NA 516
Right-of-use finance lease assets obtained in exchange for finance lease liabilities NA NA NA NA 1,486

Dividends paid on Common Stock

Dividends declared 4,816 4,949 5,176 5,358 4,155
Dividends reinvested 0 (10) (25) (30) (27)
Total 4,816 4,939 5,151 5,328 4,128
Data shown on this page is extracted directly from the company’s documents. S&P makes every effort to line up fields, captions and headers that represent the same data over time, despite variations in how the company may report these items in different documents. In certain instances the variation in the company’s presentation over time may be too significant, potentially resulting in repeating and/or disordered items. Despite possible issues with the presentation, S&P, as always, stands by its commitment to the quality of the data.