10-K · March 10, 2026
First United (FUNC) presents as a regional community bank with a 23-branch footprint and growing balance sheet (total assets of $2.1 billion at December 31, 2025). The company highlights wealth-management growth (AUM ~…
Earnings analysis · 10-Q
FUNC earnings analysis
Filed May 8, 2026 · Our reading of the company's report
The latest report
First United Corporation reported strong Q1 2026 financial results with revenue of $23.3 million and EPS of $1.02, exceeding expectations significantly. The company attributed its success to increased net interest…
Read full summary
First United Corporation reported strong Q1 2026 financial results with revenue of $23.3 million and EPS of $1.02, exceeding expectations significantly. The company attributed its success to increased net interest income and operational efficiency despite rising expenses and credit loss provisions. Additionally, management provided an encouraging outlook with adjusted revenue guidance raised to between $130 million and $135 million for the fiscal year.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.02
What stood out
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Significant Revenue Growth
Revenue increased to $23.3 million in Q1 2026, up from $21 million in Q1 2025.
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EPS Beat Estimates
EPS for Q1 2026 was reported at $1.02, exceeding the estimate of $0.92.
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Rising Net Interest Income
Net interest income grew by $2.1 million year-over-year, contributing to increased profitability.
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Operational Efficiency
Return on Average Equity improved to 13.06% compared to 12.83% in the previous year.
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Strong Deposits Growth
Total deposits increased by $15.5 million from the previous quarter, totaling $1.75 billion.
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Improved Loan Production
New commercial loans produced in Q1 2026 were approximately $98 million.
What to watch
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Increase in Credit Loss Provisions
Provision for credit losses rose to $0.9 million in Q1 2026, up from $0.7 million in Q1 2025.
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Higher Operating Expenses
Other operating expenses increased by $1.1 million, impacting net income.
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Inflationary Pressure on Costs
Rising costs associated with labor and professional services could challenge profitability.
Management's outlook
Management has raised revenue guidance for FY 2026 to $130M-$135M from $125M-$130M.
Earlier filings 4
10-K · March 20, 2025
First United Corporation presents as a regional community bank focused on retail and commercial banking with a 22-branch footprint and $2.0 billion in total assets at December 31, 2024. The company emphasizes local…
10-Q · November 7, 2024
First United's quarter showed revenue/profit growth and margin expansion versus the prior-year quarter, driven by higher interest income and brokerage/trust fees. Net income rose to $5,771,000 and diluted EPS to $0.89;…
10-Q · November 9, 2023
First United Corporation reported Q3 2023 diluted EPS of $0.67 and quarter revenue of $18,882,000 (Net interest income $13,984,000 + other operating income $4,898,000). Net income for the quarter was $4,513,000, down…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.