Condensed Financial Information (Parent Company Only) (Tables)

12 Months Ended

Dec. 31, 2021

Condensed Financial Information Disclosure [Abstract]

Schedule of Condensed Balance Sheets

UNION BANKSHARES, INC. (PARENT COMPANY ONLY)

CONDENSED BALANCE SHEETS

December 31, 2021 and 2020

	2021		2020
	(Dollars in thousands)
ASSETS
Cash	$	342	$	93
Other investments	73		60
Investment in subsidiary - Union	99,817		80,257
Other assets	837		869
Total assets	$	101,069	$	81,279
LIABILITIES AND STOCKHOLDERS' EQUITY
LIABILITIES
Subordinated notes	$	16,171	$	—
Other liabilities	557		412
Total liabilities	16,728		412
STOCKHOLDERS' EQUITY
Common stock, $2.00 par value; 7,500,000 shares authorized; 4,967,093 shares  issued at December 31, 2021 and 4,954,732 shares issued at December 31, 2020	9,934		9,910
Additional paid-in capital	1,769		1,393
Retained earnings	78,350		71,097
Treasury stock at cost; 473,438 shares at December 31, 2021 and 474,632 shares  at December 31, 2020	(4,160)		(4,169)
Accumulated other comprehensive income	(1,552)		2,636
Total stockholders' equity	84,341		80,867
Total liabilities and stockholders' equity	$	101,069	$	81,279

Schedule of Condensed Statements of Income

UNION BANKSHARES, INC. (PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF INCOME

Years Ended December 31, 2021 and 2020

	2021		2020
Revenues	(Dollars in thousands)
Dividends - bank subsidiary - Union	$	5,400	$	6,350
Other income	26		28
Total revenues	5,426		6,378
Expenses
Interest	17		18
Interest on subordinated notes	200		—
Administrative and other	583		539
Total expenses	800		557
Income before applicable income tax benefit and equity in undistributed   net income of subsidiary	4,626		5,821
Applicable income tax benefit	(164)		(113)
Income before equity in undistributed net income of subsidiary	4,790		5,934
Equity in undistributed net income - Union	8,380		6,871
Net income	$	13,170	$	12,805

Schedule of Condensed Statements of Cash Flows

UNION BANKSHARES, INC. (PARENT COMPANY ONLY)

CONDENSED STATEMENTS OF CASH FLOWS

Years Ended December 31, 2021 and 2020

	2021		2020
CASH FLOWS FROM OPERATING ACTIVITIES	(Dollars in thousands)
Net income	$	13,170	$	12,805
Adjustments to reconcile net income to net cash provided by operating activities:
Equity in undistributed net income of Union	(8,380)		(6,871)
Amortization of debt issuance costs	11		—
Decrease (increase) in other assets	32		(157)
Increase (decrease) in other liabilities	76		(30)
Net cash provided by operating activities	4,909		5,747
CASH FLOWS FROM INVESTING ACTIVITIES
Investment in Union	(15,000)		—
Purchases of other investments	(13)		(33)
Net cash used in investing activities	(15,013)		(33)
CASH FLOWS FROM FINANCING ACTIVITIES
Proceeds from issuance of subordinated notes	16,500		—
Debt issuance costs incurred with issuance of subordinated notes	(340)		—
Dividends paid	(5,877)		(5,689)
Issuance of common stock	72		22
Purchase of treasury stock	(2)		—
Net cash provided by (used in) financing activities	10,353		(5,667)
Net increase in cash	249		47
Cash, beginning of year	93		46
Cash, end of year	$	342	$	93
Supplemental Disclosures of Cash Flow Information
Interest paid	$	17	$	18
Dividends paid on Common Stock:
Dividends declared	$	5,917	$	5,727
Dividends reinvested	(40)		(38)
	$	5,877	$	5,689