secwatch.observer — SEC 8-K summary
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Issuer:     FIRST UNITED CORP/MD/ (FUNC)
CIK:        0000763907
Form:       8-K
Filed at:   2024-10-21T23:59:59+00:00
Accession:  0001104659-24-110216
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First United Q3 EPS $0.89 vs $0.67 YoY; dividend raised 10% to $0.22
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- Net income $5.8M, diluted EPS $0.89 vs $0.67 Q3 2023; YTD net income $14.4M.
- Net interest margin (FTE) 3.46%; commercial loan production $52.1M, residential $19.9M.
- Provision for credit losses fell to $0.3M from $1.2M in Q2; non-accrual loans rose to $8.1M.
- Dividend increased 10% to $0.22 per share; book value $26.90, up from $24.38 at year-end.
- Obtained $90M FHLB borrowings at 3.89%, used to repay $41.1M BTFP and $40M maturing FHLB.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763907/000110465924110216/0001104659-24-110216-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763907/000110465924110216/tm2426548d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-24-110216

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