{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-24-050934","form_type":"8-K","ticker":"FUNC","cik":"0000763907","company_name":"FIRST UNITED CORP/MD/","filed_at":"2024-04-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:21.924367+00:00","generated_at":"2026-06-03T10:29:32.585677+00:00","sec_items":["2.02","7.01","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"First United Q1 net income $3.7M ($0.56 EPS) vs $4.4M a year ago; NIM compresses, non-accruals surge","bullets":["Q1 2024 net income $3.7M ($0.56 diluted EPS) vs $4.4M ($0.65) in Q1 2023.","Net interest margin (FTE) fell to 3.12% from 3.53% a year ago; $0.4M interest reversal on non-accrual loans.","Non-accrual loans jumped to $16.0M from $4.0M at Dec 31, driven by two commercial relationships totaling $12.1M.","Provision for credit losses rose to $0.9M from $0.5M in Q1 2023 due to increased qualitative risk factors.","Borrowed $40M from Fed BTFP at 4.87% in January; repaid $40M FHLB advance in March."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-24-050934","json":"https://secwatch.observer/filing/0001104659-24-050934.json","markdown":"https://secwatch.observer/filing/0001104659-24-050934.md","text":"https://secwatch.observer/filing/0001104659-24-050934.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/763907/000110465924050934/0001104659-24-050934-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/763907/000110465924050934/tm2412545d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-03T10:29:32.585677+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"a97acf1c1f842fdb8249b03a49760b4778c77426","claim":"FIRST UNITED CORP/MD/ reported the three-month period ended March 31, 2024 results: net income $3.7 million, EPS $0.56 per diluted share.","evidence_excerpt":"Consolidated net income was $3.7 million for the first quarter of 2024, or $0.56 per diluted share","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/763907/000110465924050934/0001104659-24-050934-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"the three-month period ended March 31, 2024"},{"label":"Net income","value":"$3.7 million"},{"label":"EPS","value":"$0.56 per diluted share"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}