---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-045633"
form_type: "8-K"
ticker: "FUNC"
cik: "0000763907"
company_name: "FIRST UNITED CORP/MD/"
filed_at: "2026-04-21T23:59:59+00:00"
generated_at: "2026-05-15T05:13:45.600207+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.7
calibrated_materiality_score: 0.7
confidence: "high"
source: SEC EDGAR
---

# First United Q1 2026 net income $6.7M ($1.03 EPS), up 16% YoY; NIM expands to 3.83%

## Summary
- GAAP net income $6.7M, EPS $1.03, vs $5.8M ($0.89) YoY; non-GAAP net income $6.6M ($1.02).
- Net interest margin (FTE) 3.83%, up 8 bps from Q4 2025, driven by higher loan yields and lower funding costs.
- Deposits increased $15.5M; repaid $25M brokered CD and $65M FHLB borrowings during the quarter.
- Commercial loan originations $98.0M, residential mortgage $16.0M; pipeline remains robust.
- Non-accrual loans $4.7M (up from $4.2M at Dec 2025); provision $0.9M on economic uncertainty and increased commitments.

## SEC filing metadata
- accession: 0001104659-26-045633
- form_type: 8-K
- ticker: FUNC
- cik: 0000763907
- company_name: FIRST UNITED CORP/MD/
- filed_at: 2026-04-21T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- 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/763907/000110465926045633/0001104659-26-045633-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763907/000110465926045633/tm2612275d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-045633
- JSON: https://secwatch.observer/filing/0001104659-26-045633.json
- Plain text: https://secwatch.observer/filing/0001104659-26-045633.txt

## Key facts
- Earnings Releases
  FIRST UNITED CORP/MD/ reported the three-month period ended March 31, 2026 results: net income $6.7 million, EPS $1.03 per diluted share.
  - Period: the three-month period ended March 31, 2026
  - Net income: $6.7 million
  - EPS: $1.03 per diluted share
  - Result: reported results
  source text: Bank & Trust (the “Bank”), today announced financial results for the three-month period ended March 31, 2026. Generally Accepted Accounting Principles (“GAAP”) net income was $6.7 million for the first quarter of 2026, or $1.03 per diluted share, compared to $5.8 million, or $0.89 per diluted share, for the first quarter of 2025 and $5.8 million, or $0.89 per
  evidence_url: https://www.sec.gov/Archives/edgar/data/763907/000110465926045633/0001104659-26-045633-index.htm

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