FIRST UNITED CORPORATION ANNOUNCES SECOND QUARTER 2026 FINANCIAL RESULTS
First United reported Q2 net income of $5.7 million, or $0.87 per share, compared to $6.0 million a year ago, primarily due to a one-time $1.7 million consulting expense. Excluding this item, non-GAAP net income rose to $7.3 million, or $1.13 per share, driven by a stronger net interest margin and steady wealth franchise income. Operational metrics showed strength as the net interest margin expanded to 3.98% on a fully tax-equivalent basis. The company originated $66.0 million in commercial loans and $33.9 million in residential mortgages, with management citing robust loan pipelines heading into the third quarter.
Key figures
- Eps
- 0.87
- Gross loans
- 1572131000
- Non gaap eps
- 1.13
- Total assets
- 2082092000
- Dividend per share
- 0.26
- Net interest income
- 18586000
- Net interest margin
- 3.98%
- Non gaap net income
- 7300000
- Non interest income
- 5319000
- Book value per share
- 32.91
- Commercial loan originations
- 66000000
- Residential mortgage originations
- 33900000
AI analysis
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