secwatch.observer — SEC 8-K summary
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Issuer:     FIRST UNITED CORP/MD/ (FUNC)
CIK:        0000763907
Form:       8-K
Filed at:   2026-04-21T23:59:59+00:00
Accession:  0001104659-26-045633
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 2026 net income $6.7M ($1.03 EPS), up 16% YoY; NIM expands to 3.83%
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- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763907/000110465926045633/0001104659-26-045633-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763907/000110465926045633/tm2612275d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-045633

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