First United stock: Q3 profit rises to USD 7.2 million

Published on 11/10/2026 at 00:16 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

First United reported stronger quarterly earnings and a higher net interest margin. Management highlighted loan growth and a robust pipeline into the fourth quarter.

First United strengthens quarterly earnings

Third-quarter net income increased year over year as net interest income and non-interest income improved.
Loan production and deposits expanded through the first nine months, while credit-loss provisions also rose.
Management said loan pipelines remained robust and maintained a disciplined approach to reserves.

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First United reported stronger third-quarter earnings on October 19, with GAAP net income reaching USD 7.2 million, compared with USD 6.9 million a year earlier. The bank holding company's investor-relations release said diluted earnings per share rose to USD 1.11 from USD 1.07.

Margin and lending support results

Net interest income increased to USD 19.6 million from USD 17.4 million in the year-earlier quarter. The non-GAAP, fully tax-equivalent net interest margin reached 4.05%, supported by higher loan yields and lower funding costs.

Commercial loan originations totaled USD 115.0 million during the quarter, while residential mortgage originations reached USD 34.7 million. The company said its commercial loan pipeline stood at USD 138.0 million at September 30, with additional unfunded commercial construction commitments.

Credit costs remain in focus

Provision expense rose to USD 1.9 million from USD 0.5 million a year earlier, reflecting loan growth, unfunded commitments and continued economic and political uncertainty. Net charge-offs remained low at USD 0.1 million for the quarter.

For the first nine months, GAAP net income rose to USD 19.5 million from USD 18.7 million. Total deposits increased by USD 52.6 million from year-end 2025, while gross loans grew by USD 83.7 million.

Regional banking business

First United Corporation is a Maryland-based bank holding company whose First United Bank & Trust provides retail and commercial banking services. Its offering includes deposit accounts, cash management, commercial and residential lending, consumer loans, trust services, brokerage and insurance products.

The company operates through branches in Maryland and West Virginia, serving households, businesses, municipalities and community organizations. Its regional model is centered on local lending, deposit gathering and wealth-related services rather than national-scale banking.

Management said loan pipelines remained robust heading into the fourth quarter while credit quality stayed strong. The board declared a quarterly cash dividend of USD 0.28 per share.