<span item_type="fundamental" item_id="0c2da2188250bbf47d45b843506be3ac" counter_id="ST/US/FUNC" env="prod"></span><span item_type="announcement" item_id="624820631892139265" env="prod"></span><p>Revenue: As of FY2025, the actual value is USD 121.42 K.</p><p>EPS: As of FY2025, the actual value is USD 3.77, missing the estimate of USD 3.84.</p><p>EBIT: As of FY2025, the actual value is USD 65.27 K.</p><p></p><h3>Segment Revenue</h3><h4>Wealth Management Segment</h4><ul><li>Trust department income was $9,824 thousand for the year ended December 31, 2025, an increase from $9,094 thousand for the year ended December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Brokerage commissions were $1,445 thousand for the year ended December 31, 2025, compared to $1,449 thousand for the year ended December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Total Wealth Management income was $11,269 thousand for 2025, an increase from $10,543 thousand for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul><h4>Community Banking Segment (Revenue components)</h4><ul><li>Service charges on deposit accounts were $2,255 thousand for 2025, up from $2,220 thousand for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Other service charges were $845 thousand for 2025, down from $887 thousand for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Debit card income was $4,057 thousand for 2025, slightly down from $4,065 thousand for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul><h3>Operational Metrics (Company-wide)</h3><h4>Net Income</h4><ul><li>Net income (GAAP) was $24.5 million for 2025, an increase from $20.6 million for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Adjusted net income (non-GAAP) was $25.8 million for 2025, up from $21.0 million for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul><h4>Net Interest Income and Margin</h4><ul><li>Net interest income (FTE basis) increased by $8.1 million (13.5%) to $68.331 million in 2025, compared to $60.207 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Net interest margin (FTE basis) increased to 3.67% for 2025, from 3.38% for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Interest income increased by $8.8 million (9.6%) in 2025, primarily due to an $8.6 million increase in interest and fees on loans and a $0.5 million increase from the investment portfolio.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Interest expense increased by $0.7 million in 2025, with a $1.7 million increase in interest on deposits and a $0.4 million increase in long-term borrowing costs, partially offset by a $1.4 million decrease in short-term borrowing interest expense.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul><h4>Other Operating Income</h4><ul><li>Total other operating income increased by $0.8 million for 2025 compared to 2024, mainly due to a $0.7 million increase in wealth management income.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul><h4>Other Operating Expenses</h4><ul><li>Total other operating expenses increased by $3.8 million to $53.405 million in 2025, from $49.640 million in 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Salaries and employee benefits increased by $1.3 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Net OREO expenses increased by $2.0 million to $2.235 million in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Data processing expenses increased by $0.5 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Professional services expenses increased by $0.5 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Occupancy and equipment expenses decreased by $0.5 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul><h4>Credit Losses</h4><ul><li>Provision for credit losses on loans was $2.3 million for 2025, compared to $2.9 million for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Net charge-offs were $1.0 million for 2025, compared to $2.2 million for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>The ratio of Allowance for Credit Losses (ACL) to loans outstanding was 1.28% at December 31, 2025, up from 1.23% at December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Non-accrual loans totaled $4.2 million at December 31, 2025, down from $4.9 million at December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Individually evaluated loans totaled $19.6 million at December 31, 2025, significantly up from $4.4 million at December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul><h3>Unique Metrics</h3><h4>Loan Portfolio</h4><ul><li>Total assets were $2.1 billion at December 31, 2025, an increase of $114.4 million since December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Gross loans were $1.5217 billion at December 31, 2025, reflecting a growth of $40.9 million in 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span><ul><li>Commercial real estate loans increased by $44.4 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Residential mortgage loans increased by $18.1 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Commercial and industrial loans decreased by $10.5 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Acquisition and development loans decreased by $5.0 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Consumer loans decreased by $6.1 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul></li><li>New commercial loan production was approximately $247.0 million for 2025, up from $189.5 million for 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>The commercial pipeline was $61.0 million at December 31, 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Unfunded commercial construction loans were approximately $46.5 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Commercial amortization and payoffs were approximately $170.5 million for 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul><h4>Deposits</h4><ul><li>Total deposits increased by $160.3 million to $1.735 billion at December 31, 2025, compared to $1.574 billion at December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span><ul><li>Brokered time deposits increased by $50.0 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Savings and money market accounts increased by $70.2 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Non-interest-bearing checking deposits increased by $26.3 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Interest-bearing checking deposits increased by $6.0 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Retail time deposits increased by $7.8 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul></li></ul><h4>Borrowed Funds</h4><ul><li>Total borrowings decreased to $113.590 million at December 31, 2025, from $186.338 million at December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span><ul><li>Short-term borrowings decreased by $47.7 million.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>Long-term borrowings decreased by $25.0 million due to the repayment of a matured FHLB borrowing in September 2025.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul></li></ul><h4>Investment Securities</h4><ul><li>The total fair value of Available-for-Sale (AFS) securities was $107.1 million at December 31, 2025, an increase of $12.7 million from December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>The book value of Held-to-Maturity (HTM) securities was $171.5 million at December 31, 2025, a decrease of $4.1 million from December 31, 2024.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li><li>New investment purchases were $24.6 million during 2025 to enhance portfolio yield.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></li></ul><h3>Outlook / Guidance</h3><p>First United Corporation management plans to maintain a strong focus on margin management into 2026.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span> Higher cash levels at December 31, 2025, are expected to facilitate the repayment of outstanding debt and brokered deposits at their maturities.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span> Management intends to keep the investment portfolio relatively stable in 2026 by reinvesting cashflows to enhance overall yield.<span class="superscript" item_id="0" item_type="announcement_file" value="1" url="https://www.sec.gov/Archives/edgar/data/763907/000110465926025836/func-20251231x10k.htm"></span></p>

First United | 10-K: FY2025 Revenue: USD 121.42 K