---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-084295"
form_type: "8-K"
ticker: "FUNC"
cik: "0000763907"
company_name: "FIRST UNITED CORP/MD/"
filed_at: "2023-07-26T23:59:59+00:00"
generated_at: "2026-06-13T02:33:17.462335+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

# First United Q2 net income falls to $4.4M from $5.4M YoY; NIM narrows to 3.39%

## Summary
- Net income of $4.4M ($0.66/sh) vs $5.4M ($0.82/sh) in Q2 2022; YTD net income $8.8M vs $11.1M.
- Net interest margin (FTE) fell to 3.39% from 3.53% linked quarter and 3.46% a year ago.
- Gross loans grew $61M linked quarter to $1.4B; commercial loans up $39.9M.
- Allowance for credit losses at 1.25% of loans; non-accrual loans $3.0M, down from $3.5M at year-end.
- Book value per share rose to $23.12 from $22.77 at Dec 31, 2022.

## SEC filing metadata
- accession: 0001104659-23-084295
- form_type: 8-K
- ticker: FUNC
- cik: 0000763907
- company_name: FIRST UNITED CORP/MD/
- filed_at: 2023-07-26T23:59:59+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/763907/000110465923084295/0001104659-23-084295-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763907/000110465923084295/tm2322157d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-084295
- JSON: https://secwatch.observer/filing/0001104659-23-084295.json
- Plain text: https://secwatch.observer/filing/0001104659-23-084295.txt

## Key facts
- Earnings Releases
  FIRST UNITED CORP/MD/ reported financial results for three- and six-month periods ended June 30, 2023.
  - Period: three- and six-month periods ended June 30, 2023
  - Result: reported results
  source text: On July 24, 2023, First United Corporation (the “Corporation”) issued a press release describing its financial results for the three- and six-month periods ended June 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/763907/000110465923084295/0001104659-23-084295-index.htm

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