FIRST UNITED CORP/MD/ FUNC

Financials SIC 6021 - National Commercial Banks NAICS Finance and Insurance › Credit Intermediation and Related Activities › Depository Credit Intermediation › Commercial Banking derived Nasdaq

First United Corporation is a Maryland corporation chartered in 1985 and a bank holding company registered with the Board of Governors of the Federal Reserve System (the "FRB") under the Bank Holding Company Act of 1956, as amended, that elected financial holding company status in 2021. The Corporation's primary business is serving as the parent company of First United Bank & Trust, a Maryland trust company (the "Bank"), First United Statutory Trust I ("Trust I") and First United Statutory Trust II ("Trust II" and together with Trust I, the "Trusts"), both Connecticut statutory business trusts. The Trusts were formed for the purpose of selling trust preferred securities that qualified as Tier 1 capital. The Bank has two consumer finance company subsidiaries - OakFirst Loan Center, Inc., a West Virginia corporation, and OakFirst Loan Center, LLC, a Maryland limited liability company (together with OakFirst Loan Center, Inc., the "OakFirst Loan Centers") - and one subsidiary that it uses to hold real estate acquired through foreclosure or by deed in lieu of foreclosure - First OREO Trust, a Maryland statutory trust. In addition, the Bank owns 99.9% of the limited partnership interests in Liberty Mews Limited Partnership, a Maryland limited partnership formed for the purpose of acquiring, developing and operating low-income housing units in Garrett County, Maryland, and a 99.9% non-voting membership interest in MCC FUBT Fund, LLC, an Ohio limited liability company formed for the purpose of acquiring, developing and operating low-income housing units in Allegany County, Maryland and Mineral County, West Virginia.

Last close 45.93 2026-10-23
Market cap $296.4M 2026-06-30 share count
52-week range 33.90 - 46.59

Valuation FY2025 figures against the last close

P/S16.1x
P/E12.2x
P/FCF19.2x
EV/EBITDA—
Dividend yield2.0%
Diluted EPS3.77

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $18.4M$17.7M$16.7M$16.2M$16.1M$14.0M$13.0M$12.6M$11.8M$45.9M
Interest expense $68.1M$60.0M$56.9M$4.8M$5.7M$9.7M$11.5M$8.1M$7.4M$8.2M
Pre-tax income $32.5M$27.2M$19.5M$33.2M$26.3M$17.8M$16.5M$13.4M$12.2M$10.1M
Income tax $8.0M$6.7M$4.4M$8.1M$6.5M$3.9M$3.3M$2.8M$6.9M$2.8M
Net income $24.5M$20.6M$15.1M$25.0M$19.8M$13.8M$13.1M$10.7M$5.3M$7.3M
EPS, basic 3.783.152.253.772.951.981.85———
EPS, diluted 3.773.152.253.762.951.971.851.510.580.84
Shares, diluted (wtd. avg.) 6.5M6.5M6.7M6.7M6.7M7.0M7.1M———

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $131.6M$78.3M$49.8M$74.3M$115.7M$149.4M$50.0M$23.5M$83.8M$63.3M
Property, plant and equipment $29.7M$30.1M$31.5M$34.9M$34.7M$36.9M$38.7M$37.9M$30.9M$27.2M
Goodwill $11.0M$11.0M$11.0M$11.0M$11.0M$11.0M$11.0M$11.0M$11.0M$11.0M
Other intangibles $440.0K$769.0K$1.1M$1.4M$1.0M—————
Total assets $2.09B$1.97B$1.91B$1.85B$1.73B$1.73B$1.44B$1.38B$1.34B$1.32B
Short-term debt $17.7M$65.4M$45.4M$64.6M$57.7M$49.2M$48.7M$77.7M$48.8M$36.0M
Long-term debt $95.9M$120.9M$110.9M$30.9M$30.9M$100.9M$100.9M$100.9M$120.9M$131.7M
Total liabilities $1.88B$1.79B$1.74B$1.70B$1.59B$1.60B$1.32B$1.27B$1.23B$1.20B
Retained earnings $207.3M$189.0M$173.9M$166.3M$145.5M$129.7M$119.5M$109.5M$101.4M$92.9M
Total equity $203.6M$179.3M$161.9M$151.8M$141.9M$131.0M$125.9M$117.1M$108.4M$113.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $19.4M$22.3M$22.5M$26.5M$20.0M$16.2M$16.4M$18.3M$12.9M$11.5M
Stock-based compensation $760.0K$483.0K$527.0K$532.0K$472.0K$345.0K$268.0K$249.0K$192.0K$192.0K
Capital expenditure $4.0M$1.9M$353.0K$3.6M$1.1M$1.6M$4.0M$9.5M$6.6M$3.9M
Investing cash flow -$48.0M-$38.4M-$81.7M-$172.4M-$28.4M-$191.3M-$32.5M-$113.7M-$7.7M$11.9M
Financing cash flow $81.9M$44.7M$34.7M$104.5M-$25.3M$274.6M$42.6M$35.2M$15.2M-$12.2M
Dividends paid $6.0M$5.4M$5.2M$4.0M$3.9M$3.6M$3.1M$1.9M$0$2.0M
Buybacks —$4.0M$1.5M—$7.2M$2.8M————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-025836.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. 0 20M 40M 60M Revenue, FY2016: 45.9M Net income, FY2016: 7.3M Revenue, FY2017: 11.8M Net income, FY2017: 5.3M Revenue, FY2018: 12.6M Net income, FY2018: 10.7M Revenue, FY2019: 13M Net income, FY2019: 13.1M Revenue, FY2020: 14M Net income, FY2020: 13.8M Revenue, FY2021: 16.1M Net income, FY2021: 19.8M Revenue, FY2022: 16.2M Net income, FY2022: 25M Revenue, FY2023: 16.7M Net income, FY2023: 15.1M Revenue, FY2024: 17.7M Net income, FY2024: 20.6M Revenue, FY2025: 18.4M Net income, FY2025: 24.5M FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $45.9M $11.8M $12.6M $13.0M $14.0M $16.1M $16.2M $16.7M $17.7M $18.4M
Gross profit — — — — — — — — — —
Net income $7.3M $5.3M $10.7M $13.1M $13.8M $19.8M $25.0M $15.1M $20.6M $24.5M

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Regulation FD disclosure Something the company told the market and had to tell everyone at once - usually a slide deck or a press release. Item 7.01
  • Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Shareholder vote Item 5.07
  • Regulation FD disclosure Item 7.01
  • Results announced Item 2.02
  • Regulation FD disclosure Item 7.01
  • Officer or director change Item 5.02
  • Officer or director change Item 5.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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