Union Bankshares Inc. announced earnings results for the fourth quarter and year ended December 31, 2012. For the quarter, the company reported
net Income of $2.2 million, or $0.50 per share, compared to $1.7 million, or $0.39 per share, for 2011. There was an increase in net interest income for the quarter of $129,000, or 2.4%, an increase in noninterest income of $1.5 million, or 78.5%, and a decrease in provision for loan loss of $175,000, or 53.8%.

For the year, the company reported earnings of $6.8 million, or $1.54 per share, compared to $5.2 million, or $1.17 per share, for 2011. Results for the year included an increase of $1.9 million, or 9.7%, in net interest income. The increase in net interest income is attributable to management of cost of funds as well as the benefit of having the loan and deposit accounts purchased in the acquisition of three New Hampshire branches in May 2011 for a full year in 2012. The increases to income were offset by increases in pension and employee benefits of $755,000, or 23.9%.

The company declared a quarterly cash dividend of $0.25 per share was declared on January 16, 2013, payable on February 7, 2013 to shareholders of record January 26, 2013.