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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
First United
First United (FUNC) investor relations material
First United Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary19 Oct, 2026
Executive summary
Q3 GAAP net income was $7.2M, or $1.11 diluted EPS, versus $6.9M and $1.07 a year earlier; nine-month net income was $19.5M versus $18.7M.
Nine-month adjusted net income was $21.1M, excluding a $2.179M pre-tax core-processing consulting fee and a $32K fixed-asset disposal gain.
Total assets were $2.10B at Sept. 30, 2026; net loans were $1.58B, deposits $1.79B and shareholders’ equity $214.0M.
Q3 results benefited from stronger net interest income, trust and brokerage growth, and loan production; management cited robust pipelines and strong credit quality.
Financial highlights
Q3 net interest income was $19.6M versus $17.4M a year earlier; nine-month net interest income was $56.3M versus $50.1M.
Q3 provision for credit losses increased to $1.9M from $0.5M; nine-month provision was $3.6M versus $2.0M.
Q3 FTE net interest margin was 4.05%, up 36 bps YoY and 7 bps QoQ; nine-month FTE margin was 3.94% versus 3.64%.
Nine-month adjusted diluted EPS was $3.26 versus $2.80; adjusted net income was $21.1M versus $18.8M in 2025.
Q3 other operating income rose to $5.5M from $5.1M, while operating expenses increased to $13.8M from $13.0M; expenses fell $2.0M QoQ as the one-time Q2 consulting charge did not recur.
Outlook and guidance
Commercial loan pipeline was $138.0M at Sept. 30, with $37.0M in unfunded commercial construction commitments; management described pipelines as robust heading into Q4.
Q3 commercial loan production was $115.0M; consumer mortgage production was $34.7M, mostly in-house.
Long-term targets include EPS growth of 8%–12%, ROAA of 1.25%–1.45%, ROATCE of 13%–15%, and adjusted efficiency ratio of 55%–60%.
Strategic priorities include growing net interest and non-interest income, increasing market share in growth markets, optimizing balance-sheet mix, and using technology, data, and AI to improve efficiency.
Interest-rate simulations showed NII increasing $3.0M at +100 bps and declining $3.4M at -100 bps; modeled changes remained within policy limits.
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Latest events from First United
- Q2 2026 saw higher net interest margin and strong loan growth, offset by a one-time expense.FUNC
Q2 2026 - Q1 2026 net income increased 16% to $6.7M, with higher margins and strong asset quality.FUNCQ1 2026
- Annual meeting to vote on directors, charter amendment, executive pay, and auditor ratification.FUNCProxy filing
- Shareholders will vote on director elections, charter changes, executive pay, and auditor ratification.FUNCProxy filing
- 2026 proxy seeks approval on director elections, governance reforms, compensation, and auditor ratification.FUNCProxy Filing
- Record core earnings, strong balance sheet growth, and improved efficiency and asset quality.FUNCQ4 2025
- Board seeks approval for director elections, executive pay, and auditor, with focus on governance and ESG.FUNCProxy Filing
- Annual meeting to vote on directors, executive pay, and auditor set for May 7, 2025.FUNCProxy Filing
- Q3 2025 net income rose 19% year-over-year, with strong loan growth and asset quality.FUNCQ3 2025
Next First United earnings date
Q4 20264 Feb, 2027
First United
Next First United earnings date
Q4 20264 Feb, 2027
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Frequently asked questions
First United Corporation is a bank holding company that provides a range of financial products and services through its subsidiary, First United Bank & Trust. The company offers personal and commercial banking solutions, including checking and savings accounts, mortgages, personal and business loans, and credit services. It also provides wealth management services, such as investment management, trust services, and financial planning, aimed at meeting the diverse financial needs of its clients. First United Corporation serves individuals, small businesses, and commercial clients, primarily in Maryland and West Virginia. The company is headquartered in Oakland, Maryland, and its shares are listed on the NASDAQ.