Union Bankshares Corporation announced unaudited consolidated earnings results for the fourth quarter and full year ended December 31, 2017. For the quarter, the company reported total interest and dividend income of $87,482,000 compared with $76,957,000 for the same period a year ago. Net interest income was $73,392,000 compared with $68,615,000 for the same period a year ago. Income before income taxes was $27,280,000 compared with $28,675,000 for the same period a year ago. Net income was $15,185,000 or $0.35 per basic and diluted share compared with $20,776,000 or $0.48 per basic and diluted share for the same period a year ago. Return on average assets was 0.66% compared with 0.99% for the same period a year ago. Return on average equity was 5.75% compared with 8.22% for the same period a year ago. Return on average tangible common equity was 8.20% compared with 12.05% for the same period a year ago.

For the full year, the company reported total interest and dividend income of $330,194,000 compared with $294,920,000 for the same period a year ago. Net interest income was $280,157,000 compared with $265,150,000 for the same period a year ago. Income before income taxes was $106,310,000 compared with $104,254,000 for the same period a year ago. Net income was $72,923,000 or $1.67 per basic and diluted share compared with $77,476,000 or $1.77 per basic and diluted share for the same period a year ago. Return on average assets was 0.83% compared with 0.96% for the same period a year ago. Return on average equity was 7.07% compared with 7.79% for the same period a year ago. Return on average tangible common equity was 10.20% compared with 11.45% for the same period a year ago. Book value per common share as on December 31, 2017 was $24.10 compared with $23.15 for the same period a year ago. Tangible book value per common share as on December 31, 2017 was $16.88 compared with $15.78 for the same period a year ago.

For the fourth quarter of 2017, net charge-offs were $2.7 million against $824,000 for the same quarter last year.