First United Corp (FUNC) Financial Statements
Industry: National Commercial Banks
In fiscal 2025, First United reported revenue of $88.7M, up 11.1% from $79.8M the year before. Net income was $24.5M (a 27.6% net margin), or $3.77 per diluted share. Net interest income was $68.1M, and the efficiency ratio (noninterest expense / revenue) was 60.2%. Operating activities generated $19.4M of cash, leaving $15.4M of free cash flow. At fiscal year end, First United held $2.09B in total assets against $1.88B in total liabilities, including $131.6M of cash and equivalents.
Open the full interactive First United financials → Quarterly statements, key ratios, valuation history and price charts.
First United Key Stats
| Share Price | $44.09 |
|---|---|
| Market Cap | $284.9M |
| P/E Ratio | 11.7 |
| Revenue YoY Growth | +11.1% |
| 52-Week Range | $33.20 – $46.18 |
| Shares Outstanding | 6.5 million (basic, 2026 Q2) |
First United Income Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Net Interest Income | $48.5M | $52.5M | $57.6M | $56.9M | $60.0M | $68.1M |
| Provision for Credit Losses | $5.4M | -$817,000 | -$643,000 | $1.6M | $2.9M | $2.7M |
| Noninterest Income | $18.6M | $20.7M | $18.1M | $14.5M | $19.8M | $20.6M |
| Noninterest Expense | $43.9M | $47.8M | $43.1M | $50.2M | $49.6M | $53.4M |
| Revenue | $67.1M | $73.3M | $75.7M | $71.3M | $79.8M | $88.7M |
| Pre-Tax Income | $17.8M | $26.3M | $33.2M | $19.5M | $27.2M | $32.5M |
| Income Tax | $3.9M | $6.5M | $8.1M | $4.4M | $6.7M | $8.0M |
| Net Income | $13.8M | $19.8M | $25.0M | $15.1M | $20.6M | $24.5M |
| Diluted EPS | $1.97 | $2.95 | $3.76 | $2.25 | $3.15 | $3.77 |
First United Quarterly Results
| 2025 Q3 | 2025 Q4 | 2026 Q1 | 2026 Q2 | |
|---|---|---|---|---|
| Revenue | $22.7M | $23.2M | $23.4M | $23.9M |
| Net Income | $6.9M | $5.8M | $6.7M | $5.7M |
| Diluted EPS | $1.07 | $0.89 | $1.03 | $0.88 |
First United Balance Sheet
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $149.4M | $115.7M | $74.3M | $49.8M | $78.3M | $131.6M |
| Loans (Net) | $1.15B | $1.14B | $1.26B | $1.39B | $1.46B | $1.50B |
| Total Assets | $1.73B | $1.73B | $1.85B | $1.91B | $1.97B | $2.09B |
| Total Long-Term Debt | $100.9M | $30.9M | $30.9M | $110.9M | $120.9M | $95.9M |
| Total Liabilities | $1.60B | $1.59B | $1.70B | $1.74B | $1.79B | $1.88B |
| Shareholders' Equity | $131.0M | $141.9M | $151.8M | $161.9M | $179.3M | $203.6M |
First United Cash Flow Statement
| FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 | |
|---|---|---|---|---|---|---|
| Cash From Operations | $16.2M | $20.0M | $26.5M | $22.5M | $22.3M | $19.4M |
| Cash From Investing | -$191.3M | -$28.4M | -$172.4M | -$81.7M | -$38.4M | -$48.0M |
| Cash From Financing | $274.6M | -$25.3M | $104.5M | $34.7M | $44.7M | $81.9M |
| Free Cash Flow | $14.6M | $18.9M | $23.0M | $22.1M | $20.4M | $15.4M |
Figures from First United's 10-K and 10-Q filings with the SEC, as of 2026-10-14. Fiscal years follow the company's own reporting calendar. EPS and share counts are adjusted for later stock splits. See the full First United financials page for every line item.
First United Company Profile
| Ticker | FUNC |
|---|---|
| Exchange | Nasdaq |
| Industry | National Commercial Banks |
| Headquarters | Oakland, Maryland |
| Incorporated in | Maryland |
| Fiscal Year End | December 31 |
| SEC Filer Category | Accelerated filer, smaller reporting company |
| SEC CIK | 0000763907 |
Frequently Asked Questions
What was First United's revenue in fiscal 2025?
First United (FUNC) reported revenue of $88.7M for fiscal 2025.
What is First United's annual revenue history?
First United's annual revenue by fiscal year: 2020: $67.1M; 2021: $73.3M; 2022: $75.7M; 2023: $71.3M; 2024: $79.8M; 2025: $88.7M.
What was First United's net income in fiscal 2025?
First United reported net income of $24.5M for fiscal 2025.
What was First United's earnings per share (EPS) in fiscal 2025?
First United's diluted EPS was $3.77 for fiscal 2025 (adjusted for any later stock splits).
How much free cash flow did First United generate in fiscal 2025?
First United generated $15.4M of free cash flow in fiscal 2025.
What was First United's revenue last quarter?
In its most recent reported quarter (2026 Q2), First United reported revenue of $23.9M.
How much debt does First United have?
First United reported $95.9M of long-term debt, including the current portion, at the end of fiscal 2025.
How many shares of First United are outstanding?
First United reported a weighted average of 6.5 million basic shares outstanding in 2026 Q2.
What is First United's market cap?
Based on its latest closing price, First United (FUNC) has a market capitalization of about $284.9M.
When does First United's fiscal year end?
First United's fiscal year end, as registered with the SEC, is December 31.
Where is First United headquartered?
First United lists its business address in Oakland, Maryland in its SEC filings.