---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-23-111443"
form_type: "8-K"
ticker: "FUNC"
cik: "0000763907"
company_name: "FIRST UNITED CORP/MD/"
filed_at: "2023-10-25T23:59:59+00:00"
generated_at: "2026-06-09T12:24:11.713039+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First United Q3 net income $4.5M, EPS $0.67 down from $1.04 YoY; NIM compresses to 3.12%

## Summary
- Net income $4.5M ($0.67/sh) vs $6.9M ($1.04) in Q3 2022; YTD $13.3M ($1.99) vs $18.1M ($2.72).
- Net interest margin (FTE) 3.12% vs 3.66% Q3 2022; nine-month NIM 3.30% vs 3.53%.
- Gross loans grew $100.5M YTD to $1.4B; commercial +$50.9M, residential +$47.3M.
- Deposits decreased $4.9M QoQ but up $4.3M YTD; brokered deposits $61.1M, non-interest bearing down $76.9M.
- Allowance for credit losses 1.24% of loans; provision $0.3M vs $0.4M prior quarter.

## SEC filing metadata
- accession: 0001104659-23-111443
- form_type: 8-K
- ticker: FUNC
- cik: 0000763907
- company_name: FIRST UNITED CORP/MD/
- filed_at: 2023-10-25T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.7
- calibrated_materiality_score: 0.7
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/763907/000110465923111443/0001104659-23-111443-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763907/000110465923111443/tm2329065d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-111443
- JSON: https://secwatch.observer/filing/0001104659-23-111443.json
- Plain text: https://secwatch.observer/filing/0001104659-23-111443.txt

## Key facts
- Earnings Releases
  FIRST UNITED CORP/MD/ reported three- and nine-month periods ended September 30, 2023 results: net income $4.5 million, EPS $0.67 per share (basic and diluted).
  - Period: three- and nine-month periods ended September 30, 2023
  - Net income: $4.5 million
  - EPS: $0.67 per share (basic and diluted)
  - Result: reported results
  source text: On October 23, 2023, First United Corporation (the “Corporation”) issued a press release describing its financial results for the three- and nine-month periods ended September 30, 2023.
  evidence_url: https://www.sec.gov/Archives/edgar/data/763907/000110465923111443/0001104659-23-111443-index.htm

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