secwatch.observer — SEC 8-K summary
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Issuer:     FIRST UNITED CORP/MD/ (FUNC)
CIK:        0000763907
Form:       8-K
Filed at:   2023-02-10T23:59:59+00:00
Accession:  0001104659-23-018336
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763907/000110465923018336/0001104659-23-018336-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763907/000110465923018336/tm236325d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-018336

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