Union Bankshares Announces Third Quarter and Year To DateEarnings and Quarterly Dividend PaymentMorrisville, VT October 15, 2008 – Union Bankshares, Inc. (NASDAQ – UNB) has announced net income for the quarter ended September 30, 2008 was $1.17 million or $0.26 per share compared to $1.42 million or $0.32 per share for the same period in 2007. Net Income year to date was $3.76 million or $0.84 per share for 2008 compared to $4.14 million or $0.92 per share for 2007.Third quarter earnings were adversely affected by the mark-to-market accounting requirement to write down to estimated fair value, through the income statement, investment securities deemed other than temporarily impaired. The Company’s management determined that approximately $512 thousand ($338 thousand after tax and 7.5 cents per share) of other-than-temporary impairments will be recognized in the third quarter of 2008 related to fixed maturity bonds of American General Finance (an AIG subsidiary) and Lehman Brothers Holdings. The Company did not own any Fannie Mae or Freddie Mac common or preferred stock and did not engage in any sub prime mortgage lending or investing.The Company remains well capitalized as defined under regulatory capital guidelines for financial institutions and bank holding companies.Loan demand has remained strong with total loans growing to $343.3 million as of September 30, 2008 from $315.5 million, an increase of 8.8%, from the same time last year. The drop in the Prime Rate from the first eight and a half months of 2007 at 8.25% to 5% as of September 30, 2008 and the impact on variable rate loans has more than offset the increase in loan income due to volume growth. Loan growth has been partially supported by the growth in deposits of approximately $15.2 million or 4.6% between years and the increase in advances taken to match fund certain loans via a credit facility with the Federal Home Loan Bank of Boston. Net interest income for the quarter is down $197 thousand as loan rates have dropped more quickly than rates on deposits and borrowings.The provision for possible loan losses of $45 thousand for the quarter was down from the 2007 third quarter provision of $190 thousand. The provision was higher in 2007 mainly because of charge-offs in the third quarter of 2007. There was also an increase in municipal loan volume during the third quarter of 2008 which historically have had no losses and are therefore at a low risk reserve factor.A quarterly cash dividend of $.28 per share was declared on October 15, 2008 to shareholders of record October 27, 2008, payable November 7, 2008.Union Bankshares, Inc., with headquarters in Morrisville, Vermont is the bank holding company parent of Union Bank, which offers deposit, loan, trust and commercial banking services throughout northern Vermont and in northwestern New Hampshire. As of September 30, 2008, the Company had approximately $423 million in consolidated assets. The Company operates 14 banking offices and 30 ATM facilities in Vermont, a branch and ATM in Littleton, New Hampshire. Our two newest branches, one in Danville, Vermont opened in July 2008 and a full service branch in St. Albans, Vermont opened October 2, 2008.Statements made in this press release that are not historical facts are forward-looking statements. Investors are cautioned that all forward-looking statements necessarily involve risks and uncertainties, and many factors could cause actual results and events to differ materially from those contemplated in the forward-looking statements. For further information, please refer to the Company’s reports filed with the Securities and Exchange Commission at www.sec.gov(link is external).
The fight for same-sex marriage in Australia is far from overThe Age 1 July 2015It is disappointingly predictable that the media in Australia is obsessed by a slim majority activist US Supreme Court decision. At the same time there have been no reports of an elected representative vote in another country of 110-26 against same-sex marriage.While we have heard much about the US Supreme Court’s extraordinary ruling that a right to marry someone of the same sex has – somehow – always been constitutional, there’s been hardly any mention about last week’s overwhelming vote against gay marriage in the Austrian legislature.Most people in a democracy believe social policy should be determined by the people, not by dubious interpretation by an activist judiciary.The US Supreme Court majority has set a dangerous precedent for the US by asserting that the American people have, since inception, somehow misunderstood their own constitution.As dissenting Justice Antonin Scalia put it: “And to allow the policy question of same-sex marriage to be considered and resolved by a select, patrician, highly unrepresentative panel of nine is to violate a principle even more fundamental than no taxation without representation: no social transformation without representation.”Scalia’s deep concern is sound.http://www.theage.com.au/comment/comment-eric-abetz–on-gay-marriage-20150701-gi26gi.html read more
Sunman, In. — A couple from Sunman has donated a 25-foot pine tree to the city of Aurora for the 2018 holiday season.Michelle and David Hoff operate the farm at 7152 East Hoff Road in Sunman and say they will open for the very first time Friday, November 23 (The Day After Thanksgiving).
“This year was always going to be tough, and I felt in some games we’ve just thrown points away,” he added. “No disrespect to the likes of Norwich, but we shouldn’t really be going down there and losing. We will come back stronger, we’re hungry to not just sit on what we’ve done, we want to build on that.”You have to show your appreciation for what Liverpool have achieved this year, and the way they’ve done it; they’re not just three or six points clear, they’re a lot of points clear of us, and that just shows they are deserved winners.”Since then, it’s about being professional; they’ve won the league, but let’s not make the gap silly. Let’s try and close the gap down.” Manchester City have “hit the ground running”, according to Kyle Walker, who has backed the club to carry their momentum through the rest of the season after the frustration of their Premier League campaign.Pep Guardiola’s side surrendered their two-year hold on the top-flight crown as Liverpool claimed the title. Despite that however City have already claimed silverware once this year with success in the Carabao Cup and they could yet add to their haul, with FA Cup and Champions League encounters to come, and England defender Walker believes that his side are in the ascendancy.”We’ve come back and hit the ground running,” he told Sky Sports News. “I think the momentum is on our side, we’ve got the rhythm, players are looking sharp, feeling great, and hopefully we can just continue this great form we’re on and take it into the competitions we want to win.”We all believe in ourselves, we all believe in the manager, his philosophy, his way of playing. I feel on our day we can beat anyone in world football. It’s going to be a very exciting six weeks. In my first season I picked up three trophies here, and in my second season I picked up four. Obviously we’re just missing the Champions League, that’s the only one I haven’t got.”Missing out on the Premier League was a big blow for us as a team, but you have to take your hats off to Liverpool, they played fantastically well throughout the season and deserved it, so fair play to them. But hopefully now we can go and do what they did last year by winning the Champions League, and put all our eggs into that basket now.”Having only edged out Liverpool by a point last term in the Premier League, City’s capitulation in the title race this season has been particularly notable, but Walker says that the club will only return with their drive and ambition doubled. read more
MORE: Notable college football players opting out in 2020The most noticeable item? Michigan will play at Ohio State on Oct. 24 — the eighth week of the proposed schedule. That will be one of the more discussed items if there is a 2020 college football season. The Big Ten is the second Power 5 conference to release a full schedule with dates for the 2020 season. Here’s a look. 2020 Big Ten week-by-week schedule Sept. 5 Ohio State at Illinois (Thursday) Indiana at Wisconsin (Friday) Maryland at Iowa Minnesota at Michigan State Nebraska at Rutgers Northwestern at Penn State Purdue at Michigan Sept. 12 Illinois at Nebraska Iowa at Purdue Michigan at Minnesota Wisconsin at Northwestern Iowa at Purdue Michigan State at Maryland Rutgers at Ohio State Sept. 19 Illinois at Indiana Iowa at Minnesota Wisconsin at Nebraska Northwestern at Michigan State Ohio State at Purdue Penn State at Michigan Rutgers at Maryland Sept. 26 Purdue at Illinois Nebraska at Iowa Minnesota at Wisconsin Maryland at Northwestern Indiana at Ohio State Rutgers at Michigan Michigan State at Penn State Oct. 3 Northwestern at Iowa Minnesota at Nebraska Wisconsin at Maryland Michigan State at Michigan Penn State at Rutgers Bye: Illinois, Purdue, Indiana, Ohio State Oct. 10 Iowa at Illinois Nebraska at Ohio State Indiana at Minnesota Purdue at Wisconsin Bye: Northwestern, Maryland, Michigan, Michigan State, Penn State, Rutgers Oct. 17 Illinois at Northwestern Rutgers at Purdue Michigan at Indiana Maryland at Penn State Ohio State at Michigan State Bye: Iowa, Minnesota, Nebraska, Wisconsin Oct. 24 Illinois at Wisconsin Iowa at Penn State Purdue at Minnesota Nebraska at Northwestern Maryland at Indiana Michigan at Ohio State Rutgers at Michigan State Oct. 31 Minnesota at Illinois Michigan State at Iowa Penn State at Nebraska Northwestern at Purdue Wisconsin at Michigan Indiana at Rutgers Ohio State at Maryland Nov. 7 Illinois at Rutgers Indiana at Michigan State Maryland at Michigan Ohio State at Penn State Bye: Iowa, Minnesota, Nebraska, Northwestern, Purdue, Wisconsin Nov. 14 Wisconsin at Iowa Nebraska at Purdue Northwestern at Minnesota Bye: Illinois, Indiana, Maryland, Michigan, Michigan State, Ohio State, Penn State, Rutgers Nov. 21 Penn State at Illinois Iowa at Ohio State Michigan State at Nebraska Michigan at Northwestern Purdue at Indiana Rutgers at Wisconsin Minnesota at Maryland Nov. 28 Open Dec. 5 Big Ten championship game 2020 Big Ten team-by-team schedules Illinois Sept. 3: vs. Ohio State Sept. 12: at Nebraska Sept. 19: at Indiana Sept. 26: vs. Purdue Oct. 3: Bye Oct. 10: vs. Iowa Oct. 17: at Northwestern Oct. 24: at Wisconsin Oct. 31: vs. Minnesota Nov. 7: at Rutgers Nov. 14: Bye Nov. 21: vs. Penn State Iowa Sept. 5: vs. Maryland Sept. 12: at Purdue Sept. 19: at Minnesota Sept. 26: vs. Nebraska Oct. 3: vs. Northwestern Oct. 10: at Illinois Oct. 17: Bye Oct. 24: at Penn State Oct. 31: vs. Michigan State Nov. 7: Bye Nov. 14: vs. Wisconsin Nov. 21: at Ohio State Indiana Sept. 4: at Wisconsin Sept. 12: vs. Penn State Sept. 19: vs. Illinois Sept. 26: at Ohio State Oct. 3: Bye Oct. 10: at Minnesota Oct. 17: vs. Michigan Oct. 24: vs. Maryland Oct. 31: at Rutgers Nov. 7: at Michigan State Nov. 14: Bye Nov. 21: vs. Purdue Maryland Sept. 5: at Iowa Sept. 12: vs. Michigan State Sept. 19: vs. Rutgers Sept. 26: at Northwestern Oct. 3: vs. Wisconsin Oct. 10: Bye Oct. 17: at Penn State Oct. 24: at Indiana Oct. 31: vs. Ohio State Nov. 7: at Michigan Nov. 14: Bye Nov. 21: vs. Minnesota Michigan Sept. 5: vs. Purdue Sept. 12: at Minnesota Sept. 19: vs. Penn State Sept. 26: at Rutgers Oct. 3: vs. Michigan State Oct. 10: Bye Oct. 17: at Indiana Oct. 24: at Ohio State Oct. 31: vs. Wisconsin Nov. 7: vs. Maryland Nov. 14: Bye Nov. 21: at Northwestern Michigan State Sept. 5: vs. Minnesota Sept. 12: at Maryland Sept. 19: vs. Northwestern Sept. 26: at Penn State Oct. 3: at Michigan Oct. 10: Bye Oct. 17: vs. Ohio State Oct. 24: vs. Rutgers Oct. 31: at Iowa Nov. 7: vs. Indiana Nov. 14: Bye Nov. 21: at Nebraska Minnesota Sept. 5: at Michigan State Sept. 12: vs. Michigan Sept. 19: vs. Iowa Sept. 26: at Wisconsin Oct. 3: at Nebraska Oct. 10: vs. Indiana Oct. 17: Bye Oct. 24: vs. Purdue Oct. 31: at Illinois Nov. 7: Bye Nov. 14: vs. Northwestern Nov. 21: at Maryland Nebraska Sept. 5: at Rutgers Sept. 12: vs. Illinois Sept. 19: vs. Wisconsin Sept. 26: at Iowa Oct. 3: vs. Minnesota Oct. 10: at Ohio State Oct. 17: Bye Oct. 24: at Northwestern Oct. 31: vs. Penn State Nov. 7: Bye Nov. 14: at Purdue Nov. 21: vs. Michigan State Northwestern Sept. 5: at Penn State Sept. 12: vs. Wisconsin Sept. 19: at Michigan State Sept. 26: vs. Maryland Oct. 3: at Iowa Oct. 10: Bye Oct. 17: vs. Illinois Oct. 24: vs. Nebraska Oct. 31: at Purdue Nov. 7: Bye Nov. 14: at Minnesota Nov. 21: vs. Michigan Ohio State Sept. 3: at Illinois Sept. 12: vs. Rutgers Sept. 19: at Purdue Sept. 26: vs. Indiana Oct. 3: Bye Oct. 10: vs. Nebraska Oct. 17: at Michigan State Oct. 24: vs. Michigan Oct. 31: at Maryland Nov. 7: at Penn State Nov. 14: Bye Nov. 21: vs. Iowa Penn State Sept. 5: vs. Northwestern Sept. 12: at Indiana Sept. 19: at Michigan Sept. 26: vs. Michigan State Oct. 3: at Rutgers Oct. 10: Bye Oct. 17: vs. Maryland Oct. 24: Iowa Oct. 31: at Nebraska Nov. 7: vs. Ohio State Nov. 14: Bye Nov. 21: at Illinois Purdue Sept. 5: at Michigan Sept. 12: vs. Iowa Sept. 19: vs. Ohio State Sept. 26: at Illinois Oct. 3: Bye Oct. 10: at Wisconsin Oct. 17: vs. Rutgers Oct. 24: at Minnesota Oct. 31: vs. Northwestern Nov. 7: Bye Nov. 14: vs. Nebraska Nov. 21: at Indiana Rutgers Sept. 5: vs. Nebraska Sept. 12: at Ohio State Sept. 19: at Maryland Sept. 26: vs. Michigan Oct. 3: vs. Penn State Oct. 10: Bye Oct. 17: at Purdue Oct. 24: at Michigan State Oct. 31: vs. Indiana Nov. 7: vs. Illinois Nov. 14: Bye Nov. 21: at Wisconsin Wisconsin Sept. 4: vs. Indiana Sept. 12: at Northwestern Sept 19: at Nebraska Sept. 26: vs. Minnesota Oct. 3: at Maryland Oct. 10: vs. Purdue Oct. 17: Bye Oct. 24: vs. Illinois Oct. 31: at Michigan Nov. 7: Bye Nov. 14: at Iowa Nov. 21: vs. Rutgers The Big Ten released its 2020 college football schedule on Tuesday. The conference-only schedule begins Sept. 3 and concludes with the Big Ten championship game Dec. 5. Each Big Ten team will have two bye weeks built into the schedule to account for possible changes because of the ongoing COVID-19 pandemic. read more