First United Q2 GAAP EPS $0.87 vs $0.92 YoY; non-GAAP EPS $1.13; NIM expands to 3.98%

FIRST UNITED CORP/MD/

GAAP net income $5.7M ($0.87 diluted EPS) vs $6.0M ($0.92) in Q2 2025; non-GAAP net income $7.3M ($1.13 EPS) excluding $1.7M after-tax consulting fee.
Net interest margin (non-GAAP FTE) improved to 3.98% in Q2 2026 from 3.83% in Q1 2026 and 3.61% in Q2 2025.
Gross loans grew $50.4M since Dec 2025 to $1.6B; commercial originations $66M, residential $33.9M in Q2.
Provision for credit losses $0.8M; ACL ratio 1.31%; net charge-offs 0.04% annualized for H1 2026.
Book value per share $32.91 at June 30, 2026, up from $31.33 at Dec 31, 2025; cash dividend $0.26/share declared.

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