| Information About Reportable Segments and Reconciliation |
Information about reportable segments and reconciliation of such information to the consolidated financial statements for the three and nine months ended September 30, 2014 and 2013 is as follows (dollars in thousands):
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UNION BANKSHARES CORPORATION AND SUBSIDIARIES
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SEGMENT FINANCIAL INFORMATION
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(Dollars in thousands)
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Community Bank
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Mortgage
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Eliminations
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Consolidated
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Three Months Ended September 30, 2014
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Net interest income
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$
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64,162
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$
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317
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$
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-
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$
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64,479
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Provision for loan losses
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1,800
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-
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-
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1,800
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Net interest income after provision for loan losses
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62,362
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317
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-
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62,679
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Noninterest income
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14,308
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2,604
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(170)
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16,742
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Noninterest expenses
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56,188
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3,903
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(170)
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59,921
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Income (loss) before income taxes
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20,482
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(982)
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-
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19,500
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Income tax expense (benefit)
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4,930
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(354)
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-
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4,576
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Net income (loss)
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$
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15,552
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$
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(628)
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$
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-
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$
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14,924
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Total assets
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$
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7,189,047
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$
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41,857
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$
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(36,570)
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$
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7,194,334
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Three Months Ended September 30, 2013
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Net interest income
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$
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37,465
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$
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393
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$
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-
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$
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37,858
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Provision for loan losses
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1,800
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-
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-
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1,800
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Net interest income after provision for loan losses
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35,665
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393
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-
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36,058
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Noninterest income
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7,322
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2,062
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(168)
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9,216
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Noninterest expenses
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29,904
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4,396
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(168)
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34,132
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Income (loss) before income taxes
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13,083
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(1,941)
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-
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11,142
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Income tax expense (benefit)
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3,902
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(706)
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-
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3,196
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Net income (loss)
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$
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9,181
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$
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(1,235)
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$
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-
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$
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7,946
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Total assets
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$
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4,041,661
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$
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69,010
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$
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(63,563)
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$
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4,047,108
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Nine Months Ended September 30, 2014
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Net interest income
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$
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191,090
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$
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863
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$
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-
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$
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191,953
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Provision for loan losses
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3,300
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-
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-
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3,300
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Net interest income after provision for loan losses
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187,790
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863
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-
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188,653
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Noninterest income
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40,224
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7,932
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(511)
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47,645
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Noninterest expenses
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174,780
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12,908
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(511)
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187,177
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Income (loss) before income taxes
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53,234
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(4,113)
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-
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49,121
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Income tax expense (benefit)
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13,106
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(1,504)
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-
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11,602
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Net income (loss)
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$
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40,128
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$
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(2,609)
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$
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-
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$
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37,519
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Total assets
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$
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7,189,047
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$
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41,857
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$
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(36,570)
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$
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7,194,334
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Nine Months Ended September 30, 2013
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Net interest income
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$
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111,612
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$
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1,402
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$
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-
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$
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113,014
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Provision for loan losses
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4,850
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-
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-
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4,850
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Net interest income after provision for loan losses
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106,762
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1,402
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-
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108,164
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Noninterest income
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20,266
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10,586
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(503)
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30,349
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Noninterest expenses
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89,242
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13,176
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(503)
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101,915
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Income (loss) before income taxes
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37,786
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(1,188)
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-
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36,598
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Income tax expense (benefit)
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10,633
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(427)
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-
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10,206
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Net income (loss)
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$
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27,153
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$
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(761)
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$
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-
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$
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26,392
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Total assets
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$
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4,041,661
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$
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69,010
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$
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(63,563)
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$
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4,047,108
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