NASDAQ : FUNC
First United Corporation — Financial statements
Financials · Banks - Regional · United States
Last price 46.02 USD (Oct 29, 2026, 4:00 PM EDT) · Market cap 297.51M
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Financial statements
Income statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Interest Income on Loans | 94.49M | 90.33M | 81.76M | 69.57M | 54.45M | 52.95M |
| Interest Income on Investments | 10.52M | 10.52M | 10.24M | 11.59M | 7.97M | 5.30M |
| Total Interest Income | 105.01M | 100.85M | 91.99M | 81.16M | 62.42M | 58.26M |
| Interest Paid on Deposits | 25.54M | 27.52M | 25.83M | 19.20M | 3.23M | 3.47M |
| Interest Paid on Borrowings | 5.21M | 5.21M | 6.19M | 5.09M | 1.56M | 2.24M |
| Total Interest Expense | 30.75M | 32.73M | 32.02M | 24.29M | 4.79M | 5.71M |
| Net Interest Income | 74.26M | 68.11M | 59.98M | 56.87M | 57.63M | 52.54M |
| Trust Income | 9.82M | 9.82M | 9.09M | 8.28M | 8.24M | 8.65M |
| Gain (Loss) on Sale of Assets | -151.00K | -228.00K | -29.00K | 33.00K | 15.00K | |
| Gain (Loss) on Sale of Investments | -187.00K | 97.00K | -4.21M | 94.00K | 100.00K | |
| Other Non-Interest Income | 9.26M | 8.09M | 8.10M | 7.85M | 7.65M | 8.84M |
| Total Non-Interest Income | 21.54M | 20.57M | 19.82M | 14.47M | 18.05M | 19.37M |
| Revenues Before Loan Losses | 95.80M | 88.68M | 79.80M | 71.34M | 75.68M | 71.92M |
| Provision for Loan Losses | 4.31M | 2.74M | 2.93M | 1.62M | -627.00K | -817.00K |
| Revenue | 91.49M | 85.94M | 76.87M | 69.72M | 76.31M | 72.73M |
| Salaries and Employee Benefits | 30.77M | 28.53M | 27.39M | 27.08M | 23.57M | 21.59M |
| Federal Deposit Insurance | 1.11M | 1.05M | 1.07M | 992.00K | 636.00K | 772.00K |
| Selling, General & Administrative | 19.30M | 16.50M | 15.58M | 16.47M | 14.26M | 15.79M |
| Other Non-Interest Expense | 4.86M | 5.08M | 5.33M | 5.79M | 4.08M | 4.93M |
| Total Non-Interest Expense | 58.14M | 53.41M | 49.64M | 50.24M | 43.13M | 42.13M |
| EBT Excluding Unusual Items | 33.35M | 32.53M | 27.23M | 19.48M | 33.18M | 30.60M |
| Legal Settlements | -3.30M | |||||
| Other Unusual Items | -2.37M | |||||
| Pretax Income | 33.35M | 32.53M | 27.23M | 19.48M | 33.18M | 26.31M |
| Income Tax Expense | 8.06M | 8.02M | 6.66M | 4.42M | 8.13M | 6.54M |
| Net Income | 25.29M | 24.52M | 20.57M | 15.06M | 25.05M | 19.77M |
| Net Income to Common | 25.29M | 24.52M | 20.57M | 15.06M | 25.05M | 19.77M |
| Basic Shares Outstanding | 6.47M | 6.49M | 6.53M | 6.69M | 6.65M | 6.71M |
| Diluted Shares Outstanding | 6.49M | 6.50M | 6.54M | 6.70M | 6.66M | 6.72M |
| EPS (Basic) | 3.91 | 3.78 | 3.15 | 2.25 | 3.77 | 2.95 |
| EPS (Diluted) | 3.90 | 3.77 | 3.15 | 2.25 | 3.76 | 2.95 |
| Dividend Per Share | 1.06 | 0.96 | 0.84 | 0.78 | 0.60 | 0.58 |
| Effective Tax Rate | 24.17% | 24.65% | 24.46% | 22.67% | 24.51% | 24.86% |
Balance sheet
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 74.87M | 131.61M | 78.33M | 49.75M | 74.31M | 115.72M |
| Investment Securities | 271.24M | 100.74M | 100.69M | 141.87M | 164.27M | 117.33M |
| Mortgage-Backed Securities | 178.79M | 169.30M | 169.60M | 197.28M | 225.70M | |
| Total Investments | 271.24M | 279.53M | 269.99M | 311.47M | 361.55M | 343.03M |
| Gross Loans | 1.61B | 1.52B | 1.48B | 1.41B | 1.28B | 1.15B |
| Allowance for Loan Losses | -21.76M | -19.47M | -18.17M | -17.48M | -14.64M | -15.96M |
| Other Adjustments to Gross Loans | -711.00K | -476.00K | -442.00K | -340.00K | -174.00K | -292.00K |
| Net Loans | 1.58B | 1.50B | 1.46B | 1.39B | 1.26B | 1.14B |
| Property, Plant & Equipment | 29.94M | 30.68M | 31.29M | 32.83M | 36.85M | 36.94M |
| Goodwill | 11.00M | 11.00M | 11.00M | 11.00M | 11.00M | |
| Other Intangible Assets | 11.20M | 440.00K | 769.00K | 1.10M | 1.43M | 1.05M |
| Loans Held for Sale | 130.00K | 806.00K | 443.00K | 67.00K | ||
| Accrued Interest Receivable | 40.01M | 7.90M | 7.47M | 7.49M | 6.05M | 4.82M |
| Other Receivables | 9.82M | |||||
| Long-Term Deferred Tax Assets | 9.50M | 8.73M | 9.99M | 11.13M | 10.61M | 6.86M |
| Other Real Estate Owned & Foreclosed | 2.69M | 3.88M | 5.86M | 4.55M | 4.73M | 4.48M |
| Other Long-Term Assets | 75.64M | 101.95M | 95.33M | 87.25M | 76.95M | 68.43M |
| Total Assets | 2.10B | 2.09B | 1.97B | 1.91B | 1.85B | 1.73B |
| Interest Bearing Deposits | 1.33B | 1.23B | 1.10B | 1.07B | 1.03B | 923.15M |
| Institutional Deposits | 51.10M | 43.70M | 48.80M | 37.50M | 44.60M | |
| Non-Interest Bearing Deposits | 455.13M | 453.04M | 426.74M | 427.67M | 506.61M | 501.63M |
| Total Deposits | 1.79B | 1.74B | 1.57B | 1.55B | 1.57B | 1.47B |
| Short-Term Borrowings | 32.84M | 17.66M | 65.41M | 45.42M | 64.56M | 57.70M |
| Current Portion of Long-Term Debt | 65.00M | 80.00M | ||||
| Accrued Interest Payable | 27.75M | 953.00K | 489.00K | 612.00K | 151.00K | 137.00K |
| Other Current Liabilities | 1.81M | 1.69M | 1.42M | 1.33M | 1.20M | 993.00K |
| Federal Home Loan Bank Debt, Long-Term | 90.00M | |||||
| Long-Term Leases | 927.00K | 1.18M | 1.38M | 1.56M | 2.37M | 2.76M |
| Trust Preferred Securities | 30.93M | 30.93M | 30.93M | 30.93M | 30.93M | |
| Pension & Post-Retirement Benefits | 9.01M | 8.34M | 9.78M | 7.19M | 10.39M | |
| Other Long-Term Liabilities | 2.07M | 22.25M | 20.93M | 23.39M | 19.23M | 15.65M |
| Total Liabilities | 1.88B | 1.88B | 1.79B | 1.74B | 1.70B | 1.59B |
| Common Stock | 65.00K | 65.00K | 65.00K | 66.00K | 67.00K | 66.00K |
| Additional Paid-In Capital | 19.71M | 21.55M | 20.48M | 23.73M | 24.41M | 23.66M |
| Retained Earnings | 221.64M | 207.28M | 189.00M | 173.90M | 166.34M | 145.49M |
| Comprehensive Income & Other | -27.42M | -25.27M | -30.25M | -35.83M | -39.03M | -27.31M |
| Total Common Equity | 213.99M | 203.63M | 179.29M | 161.87M | 151.79M | 141.90M |
| Shareholders' Equity | 213.99M | 203.63M | 179.29M | 161.87M | 151.79M | 141.90M |
| Total Liabilities & Equity | 2.10B | 2.09B | 1.97B | 1.91B | 1.85B | 1.73B |
| Total Debt | 64.69M | 114.77M | 187.72M | 157.90M | 97.87M | 91.39M |
| Net Cash (Debt) | 10.18M | 16.84M | -109.39M | -108.15M | -23.55M | 24.33M |
| Net Cash Per Share | 1.57 | 2.59 | -16.73 | -16.14 | -3.54 | 3.62 |
| Filing Date Shares Outstanding | 6.46M | 6.50M | 6.47M | 6.64M | 6.67M | 6.62M |
| Total Common Shares Outstanding | 6.46M | 6.50M | 6.47M | 6.64M | 6.67M | 6.62M |
| Book Value Per Share | 33.10 | 31.33 | 27.71 | 24.38 | 22.77 | 21.43 |
| Tangible Book Value | 202.79M | 192.19M | 167.52M | 149.77M | 139.36M | 129.85M |
| Tangible Book Value Per Share | 31.37 | 29.57 | 25.89 | 22.56 | 20.90 | 19.61 |
Cash flow statement
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Net Income | 24.52M | 20.57M | 15.06M | 25.05M | 19.77M | |
| Depreciation & Amortization | 3.06M | 3.79M | 4.92M | 3.65M | 3.43M | |
| Gain (Loss) on Sale of Assets | 151.00K | -161.00K | -570.00K | -33.00K | -1.39M | |
| Gain (Loss) on Sale of Investments | -866.00K | -693.00K | 3.36M | -861.00K | 1.21M | |
| Total Asset Writedown | 1.68M | 23.00K | 59.00K | |||
| Provision for Credit Losses | 2.74M | 2.93M | 1.62M | -627.00K | -817.00K | |
| Net Decrease (Increase) in Loans Originated / Sold - Operating | 1.21M | 51.00K | -62.00K | 112.00K | 4.59M | |
| Accrued Interest Receivable | -12.87M | 2.55M | -4.93M | 648.00K | -1.60M | |
| Other Operating Activities | -2.36M | -2.52M | -3.32M | -1.14M | -4.87M | |
| Operating Cash Flow | 19.37M | 22.28M | 22.47M | 26.54M | 20.02M | |
| Capital Expenditures | -3.97M | -1.92M | -353.00K | -3.58M | -1.13M | |
| Sale of Property, Plant and Equipment | 14.00K | 281.00K | 39.00K | |||
| Cash Acquisitions | -600.00K | |||||
| Investment in Securities | -3.81M | 41.29M | 49.87M | -41.80M | -54.02M | |
| Net Decrease (Increase) in Loans Originated / Sold - Investing | -41.98M | -79.11M | -128.06M | -126.71M | 17.02M | |
| Other Investing Activities | 1.14M | -518.00K | -4.22M | 2.00K | 3.44M | |
| Investing Cash Flow | -48.01M | -38.44M | -81.71M | -172.40M | -28.43M | |
| Short-Term Debt Issued | 19.99M | 6.87M | 8.54M | |||
| Long-Term Debt Issued | 90.00M | 80.00M | ||||
| Total Debt Issued | 109.99M | 80.00M | 6.87M | 8.54M | ||
| Short-Term Debt Repaid | -47.75M | -19.15M | ||||
| Long-Term Debt Repaid | -25.00M | -80.00M | -70.00M | |||
| Total Debt Repaid | -72.75M | -80.00M | -19.15M | -70.00M | ||
| Net Debt Issued (Repaid) | -72.75M | 29.99M | 60.85M | 6.87M | -61.46M | |
| Issuance of Common Stock | 315.00K | 290.00K | 293.00K | 217.00K | 215.00K | |
| Repurchase of Common Stock | -4.03M | -1.50M | -7.18M | |||
| Common Dividends Paid | -5.97M | -5.37M | -5.22M | -3.99M | -3.89M | |
| Total Dividends Paid | -5.97M | -5.37M | -5.22M | -3.99M | -3.89M | |
| Net Increase (Decrease) in Deposit Accounts | 160.32M | 23.85M | -19.76M | 101.36M | 47.01M | |
| Financing Cash Flow | 81.92M | 44.73M | 34.68M | 104.46M | -25.31M | |
| Net Cash Flow | 53.28M | 28.57M | -24.56M | -41.41M | -33.71M | |
| Free Cash Flow | 15.40M | 20.36M | 22.12M | 22.97M | 18.89M | |
| Free Cash Flow Margin | 17.93% | 26.48% | 31.72% | 30.10% | 25.98% | |
| Free Cash Flow Per Share | 2.37 | 3.11 | 3.30 | 3.45 | 2.81 | |
| Cash Interest Paid | 34.18M | 32.14M | 23.82M | 4.78M | 5.97M | |
| Cash Income Tax Paid | 8.48M | 5.38M | 6.13M | 7.51M | 5.66M |
Ratios
Fiscal year January - December; amounts in USD.
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 301.39M | 243.24M | 218.06M | 157.19M | 130.80M | 124.15M |
| Last Close Price | 46.62 | 36.49 | 31.93 | 21.54 | 17.20 | 15.92 |
| PE Ratio | 11.95 | 9.92 | 10.60 | 10.44 | 5.22 | 6.28 |
| PS Ratio | 3.29 | 2.83 | 2.84 | 2.25 | 1.71 | 1.71 |
| PB Ratio | 1.41 | 1.20 | 1.22 | 0.97 | 0.86 | 0.88 |
| P/FCF Ratio | 11.60 | 15.79 | 10.71 | 7.11 | 5.70 | 6.57 |
| P/OCF Ratio | 10.00 | 12.55 | 9.79 | 7.00 | 4.93 | 6.20 |
| Debt / Equity Ratio | 0.30 | 0.56 | 1.05 | 0.97 | 0.65 | 0.64 |
| Debt / FCF Ratio | 7.45 | 9.22 | 7.14 | 4.26 | 4.84 | |
| Net Debt / Equity Ratio | -0.05 | -0.08 | 0.61 | 0.67 | 0.15 | -0.17 |
| Net Debt / FCF Ratio | -1.09 | 5.37 | 4.89 | 1.02 | -1.29 | |
| Return on Equity (ROE) | 12.24% | 12.80% | 12.06% | 9.60% | 17.06% | 14.49% |
| Return on Assets (ROA) | 1.23% | 1.21% | 1.06% | 0.80% | 1.40% | 1.14% |
| Earnings Yield | 8.36% | 10.08% | 9.43% | 9.58% | 19.15% | 15.92% |
| FCF Yield | 8.62% | 6.33% | 9.34% | 14.07% | 17.56% | 15.22% |
| Dividend Yield | 2.40% | 2.56% | 2.49% | 3.29% | 3.06% | 3.09% |
| Payout Ratio | 28.72% | 24.34% | 26.12% | 34.64% | 15.91% | 19.68% |
| Buyback Yield / Dilution | 0.18% | 0.55% | 2.40% | -0.60% | 0.83% | 4.22% |
| Total Shareholder Return | 2.58% | 3.12% | 4.90% | 2.69% | 3.89% | 7.31% |