How does UNB's Q3 2024 EPS compare to previous quarters?

Union Bankshares Inc.'s (UNB) Q3 2024 Earnings Per Share (EPS) of $0.29 marks a decline from the $0.56 reported in Q3 2023. This trend of decreasing EPS continues from the previous quarter, where EPS was $0.45 in Q2 2024 compared to $0.60 in Q2 2023. The decline in EPS is primarily due to strategic balance sheet repositioning, which included the sale of lower-yielding debt securities, resulting in a pre-tax realized loss. Despite these strategic moves, the bank's net income and EPS have shown a downward trajectory, indicating challenges in maintaining profitability amidst changing market conditions and strategic shifts.