secwatch.observer — SEC 8-K summary
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Issuer:     FIRST UNITED CORP/MD/ (FUNC)
CIK:        0000763907
Form:       8-K
Filed at:   2026-07-20T20:21:35+00:00
Accession:  0001104659-26-085078
Event type: earnings
Sentiment:  neutral
Materiality: 0.65
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763907/000110465926085078/0001104659-26-085078-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763907/000110465926085078/tm2620844d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-26-085078

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