---
schema_version: "secwatch.filing_event.v1"
accession: "0001104659-26-085078"
form_type: "8-K"
ticker: "FUNC"
cik: "0000763907"
company_name: "FIRST UNITED CORP/MD/"
filed_at: "2026-07-20T20:21:35+00:00"
generated_at: "2026-07-20T20:23:14.515541+00:00"
event_type: "earnings"
sentiment: "neutral"
materiality_score: 0.65
calibrated_materiality_score: 0.65
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001104659-26-085078
- form_type: 8-K
- ticker: FUNC
- cik: 0000763907
- company_name: FIRST UNITED CORP/MD/
- filed_at: 2026-07-20T20:21:35+00:00
- event_type: earnings
- sentiment: neutral
- materiality_score: 0.65
- calibrated_materiality_score: 0.65
- confidence: high
- sec_items: 2.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/763907/000110465926085078/0001104659-26-085078-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/763907/000110465926085078/tm2620844d1_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-26-085078
- JSON: https://secwatch.observer/filing/0001104659-26-085078.json
- Plain text: https://secwatch.observer/filing/0001104659-26-085078.txt

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