---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-018336"
form_type: "8-K"
ticker: "FUNC"
cik: "0000763907"
company_name: "FIRST UNITED CORP/MD/"
filed_at: "2023-02-10T23:59:59+00:00"
generated_at: "2026-06-19T18:41:38.588008+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First United reports record annual net income of $25.0M; Q4 EPS $1.04

## Summary
- Q4 net income $7.0M ($1.04 diluted EPS) vs $7.5M ($1.14) in Q4 2021 and $6.9M ($1.04) in Q3 2022.
- Full-year 2022 net income $25.0M ($3.76 diluted EPS), highest ever, up from $19.8M ($2.95) in 2021.
- Net interest margin (FTE) 3.63% in Q4 2022, down from 3.66% in Q3 but up from 3.49% a year ago.
- Total assets grew 6.8% YoY to $1.8B; loans up $125.8M, deposits up $101.4M.
- Allowance for loan losses ratio decreased to 1.14% from 1.38% a year ago; provision credit $0.7M.

## SEC filing metadata
- accession: 0001104659-23-018336
- form_type: 8-K
- ticker: FUNC
- cik: 0000763907
- company_name: FIRST UNITED CORP/MD/
- filed_at: 2023-02-10T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/763907/000110465923018336/0001104659-23-018336-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763907/000110465923018336/tm236325d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-018336
- JSON: https://secwatch.observer/filing/0001104659-23-018336.json
- Plain text: https://secwatch.observer/filing/0001104659-23-018336.txt

## Key facts
- Earnings Releases
  FIRST UNITED CORP/MD/ reported financial results for the three- and twelve-month periods ended December 31, 2022.
  - Period: the three- and twelve-month periods ended December 31, 2022
  - Result: reported results
  source text: On February 9, 2023, First United Corporation issued a press release describing its financial results for the three- and 12-month periods ended December 31, 2022.
  evidence_url: https://www.sec.gov/Archives/edgar/data/763907/000110465923018336/0001104659-23-018336-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.