secwatch.observer — SEC 8-K summary
======================================

Issuer:     FIRST UNITED CORP/MD/ (FUNC)
CIK:        0000763907
Form:       8-K
Filed at:   2025-04-21T23:59:59+00:00
Accession:  0001104659-25-036574
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 Q1 net income $5.8M ($0.89 EPS) up from $3.7M YoY; NIM expands to 3.56%
--------------------------------------------------------------------------------

- Net income $5.8M vs $3.7M YoY; diluted EPS $0.89 vs $0.56 Q1 2024; revenue increased $2.2M in net interest income.
- Net interest margin (FTE) 3.56% for Q1 2025, reflecting higher loan yields and stable funding costs.
- Commercial loan originations $36.1M, residential $11.4M; total loans down $0.9M due to payoffs and amortization.
- Deposits +$48.7M; $50M brokered deposits (avg rate 4.24%) used to repay $50M overnight borrowings.
- Nonaccrual loans $4.0M vs $4.9M at Dec 2024; quarterly cash dividend $0.22 per share.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763907/000110465925036574/0001104659-25-036574-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763907/000110465925036574/tm2512752d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-25-036574

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer