FIRST UNITED CORP/MD/ (FUNC) Form 8-K — Oct 19, 2026
First United Corporation (NASDAQ: FUNC) reported Q3 2026 GAAP net income of $7.2 million, or $1.11 per diluted share, up from $6.9 million ($1.07) a year ago and $5.7 million ($0.88) in Q2 2026. Nine-month net income was $19.5 million, or $3.01 per diluted share. Net interest margin on a fully tax-equivalent basis expanded to 4.05% from 3.98% in the linked quarter, driven by higher loan yields and reduced funding costs after repaying $50.0 million of brokered CDs and $65.0 million of FHLB borrowings. Gross loans grew $83.7 million year-to-date to $1.61 billion, with a $138.0 million commercial pipeline heading into Q4.
Key figures
- Eps
- 1.11
- Revenue
- $26.98 million interest income (Q3 2026)
- Net Income
- $7.2 million GAAP (Q3 2026); $19.5 million for nine months 2026
- Total Debt
- $63.8 million ($32.8 million short-term plus $30.9 million long-term borrowings)
- Total Assets
- $2.10 billion
- Cash Position
- $74.9 million cash and cash equivalents at 9/30/2026
- Dividend Per Share
- $0.28 declared in Q3 2026
- Shares Outstanding
- 6456055
- Roa ytd
- 1.26%
- Roe ytd
- 12.37%
- Acl ratio
- 1.36%
- Nim fte q3
- 4.05%
- Gross loans
- $1.61 billion, up $83.7 million since 12/31/2025
- Nim fte ytd
- 3.94% vs 3.64% prior year
- Provision q3
- $1.9 million
- Total deposits
- $1.79 billion, up $52.6 million since 12/31/2025
- Commercial pipeline
- $138.0 million
- Book value per share
- $33.15
- Efficiency ratio non GAAP
- 56.51%
- Net charge off ratio ytd
- 0.04%
- Commercial loan originations q3
- $115.0 million
AI analysis
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