--- title: "First United | 10-K: FY2025 Revenue: USD 121.42 K" type: "News" locale: "en" url: "https://longbridge.com/en/news/278610482.md" datetime: "2026-03-10T20:17:03.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/278610482.md) - [en](https://longbridge.com/en/news/278610482.md) - [zh-HK](https://longbridge.com/zh-HK/news/278610482.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/278610482.md) | [繁體中文](https://longbridge.com/zh-HK/news/278610482.md) # First United | 10-K: FY2025 Revenue: USD 121.42 K Revenue: As of FY2025, the actual value is USD 121.42 K. EPS: As of FY2025, the actual value is USD 3.77, missing the estimate of USD 3.84. EBIT: As of FY2025, the actual value is USD 65.27 K. ### Segment Revenue #### Wealth Management Segment - 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. - 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. - Total Wealth Management income was $11,269 thousand for 2025, an increase from $10,543 thousand for 2024. #### Community Banking Segment (Revenue components) - Service charges on deposit accounts were $2,255 thousand for 2025, up from $2,220 thousand for 2024. - Other service charges were $845 thousand for 2025, down from $887 thousand for 2024. - Debit card income was $4,057 thousand for 2025, slightly down from $4,065 thousand for 2024. ### Operational Metrics (Company-wide) #### Net Income - Net income (GAAP) was $24.5 million for 2025, an increase from $20.6 million for 2024. - Adjusted net income (non-GAAP) was $25.8 million for 2025, up from $21.0 million for 2024. #### Net Interest Income and Margin - 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. - Net interest margin (FTE basis) increased to 3.67% for 2025, from 3.38% for 2024. - 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. - 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. #### Other Operating Income - 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. #### Other Operating Expenses - Total other operating expenses increased by $3.8 million to $53.405 million in 2025, from $49.640 million in 2024. - Salaries and employee benefits increased by $1.3 million. - Net OREO expenses increased by $2.0 million to $2.235 million in 2025. - Data processing expenses increased by $0.5 million. - Professional services expenses increased by $0.5 million. - Occupancy and equipment expenses decreased by $0.5 million. #### Credit Losses - Provision for credit losses on loans was $2.3 million for 2025, compared to $2.9 million for 2024. - Net charge-offs were $1.0 million for 2025, compared to $2.2 million for 2024. - 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. - Non-accrual loans totaled $4.2 million at December 31, 2025, down from $4.9 million at December 31, 2024. - Individually evaluated loans totaled $19.6 million at December 31, 2025, significantly up from $4.4 million at December 31, 2024. ### Unique Metrics #### Loan Portfolio - Total assets were $2.1 billion at December 31, 2025, an increase of $114.4 million since December 31, 2024. - Gross loans were $1.5217 billion at December 31, 2025, reflecting a growth of $40.9 million in 2025. - Commercial real estate loans increased by $44.4 million. - Residential mortgage loans increased by $18.1 million. - Commercial and industrial loans decreased by $10.5 million. - Acquisition and development loans decreased by $5.0 million. - Consumer loans decreased by $6.1 million. - New commercial loan production was approximately $247.0 million for 2025, up from $189.5 million for 2024. - The commercial pipeline was $61.0 million at December 31, 2025. - Unfunded commercial construction loans were approximately $46.5 million. - Commercial amortization and payoffs were approximately $170.5 million for 2025. #### Deposits - Total deposits increased by $160.3 million to $1.735 billion at December 31, 2025, compared to $1.574 billion at December 31, 2024. - Brokered time deposits increased by $50.0 million. - Savings and money market accounts increased by $70.2 million. - Non-interest-bearing checking deposits increased by $26.3 million. - Interest-bearing checking deposits increased by $6.0 million. - Retail time deposits increased by $7.8 million. #### Borrowed Funds - Total borrowings decreased to $113.590 million at December 31, 2025, from $186.338 million at December 31, 2024. - Short-term borrowings decreased by $47.7 million. - Long-term borrowings decreased by $25.0 million due to the repayment of a matured FHLB borrowing in September 2025. #### Investment Securities - 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. - 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. - New investment purchases were $24.6 million during 2025 to enhance portfolio yield. ### Outlook / Guidance First United Corporation management plans to maintain a strong focus on margin management into 2026. Higher cash levels at December 31, 2025, are expected to facilitate the repayment of outstanding debt and brokered deposits at their maturities. 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