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First United (FUNC) Financials

First United logo
$44.64 -0.71 (-1.57%)
Closing price 07/20/2026 04:00 PM Eastern
Extended Trading
$44.42 -0.23 (-0.50%)
As of 06:18 AM Eastern
Extended trading is trading that happens on electronic markets outside of regular trading hours. This is a fair market value extended hours price provided by Massive. Learn more.
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Annual Income Statements for First United

Annual Income Statements for First United

This table shows First United's income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Income / (Loss) Attributable to Common Shareholders		 10 5.26 4.05 11 13 14 20 25 15 21 25
Consolidated Net Income / (Loss)		 13 7.28 5.27 11 13 14 20 25 15 21 25
Net Income / (Loss) Continuing Operations		 13 7.28 5.27 11 13 14 20 25 15 21 25
Total Pre-Tax Income 		19 10 12 13 16 18 26 33 19 27 33
Total Revenue		 62 52 54 59 63 67 73 76 71 80 89
Net Interest Income / (Expense)		 36 38 40 44 46 49 53 58 57 60 68
Total Interest Income		 45 46 47 52 58 58 58 62 81 92 101
Loans and Leases Interest Income		 37 39 40 45 50 52 53 54 70 82 90
Investment Securities Interest Income		 7.51 6.48 6.48 6.77 6.68 5.61 4.99 7.36 7.89 6.97 7.43
Other Interest Income		 0.36 0.44 0.84 0.45 1.04 0.44 0.32 0.62 3.70 3.27 3.09
Total Interest Expense		 9.41 8.22 7.37 8.11 12 9.66 5.71 4.79 24 32 33
Deposits Interest Expense		 3.91 3.15 3.29 4.25 7.79 6.36 3.47 3.23 19 26 28
Short-Term Borrowings Interest Expense		 0.06 0.06 0.07 0.53 0.19 0.09 0.09 0.11 0.15 1.48 0.08
Long-Term Debt Interest Expense		 5.44 5.01 4.01 3.34 3.55 3.21 2.16 1.45 4.94 4.71 5.14
Total Non-Interest Income		 26 15 14 15 17 19 21 18 14 20 21
Other Service Charges		 5.75 6.02 6.01 - 16 16 20 18 18 19 20
Net Realized & Unrealized Capital Gains on Investments		 1.02 0.53 0.03 0.13 0.33 2.79 1.23 0.08 -3.86 0.41 0.40
Provision for Credit Losses		 1.05 3.12 2.53 2.11 1.32 5.40 -0.82 -0.63 1.58 2.92 2.70
Total Non-Interest Expense		 41 39 39 44 45 44 48 43 50 50 53
Salaries and Employee Benefits		 21 21 22 24 25 21 22 24 28 28 29
Net Occupancy & Equipment Expense		 8.45 8.00 8.62 9.57 11 11 9.88 11 12 11 11
Marketing Expense		 - - 0.54 0.53 0.42 0.57 0.54 0.54 0.83 0.67 0.90
Property & Liability Insurance Claims		 1.87 0.94 0.63 0.64 0.41 0.61 0.77 0.64 0.99 1.07 1.05
Other Operating Expenses		 9.88 9.57 7.14 8.90 9.23 11 15 7.31 8.92 8.55 11
Other Special Charges		 - - - - - - - 0.00 0.05 0.01 0.04
Income Tax Expense		 6.47 2.78 6.95 2.76 3.34 3.95 6.54 8.13 4.42 6.66 8.02
Basic Earnings per Share		 $1.65 $0.84 $0.58 $1.51 $1.85 $1.98 $2.95 $3.77 $2.25 $3.15 $3.78
Weighted Average Basic Shares Outstanding		 6.25M 6.26M 6.93M 7.08M 7.10M 7.00M 6.71M 6.65M 6.69M 6.53M 6.49M
Diluted Earnings per Share		 $1.65 $0.84 $0.58 $1.51 $1.85 $1.97 $2.95 $3.76 $2.25 $3.15 $3.77
Weighted Average Diluted Shares Outstanding		 6.25M 6.26M 6.93M 7.08M 7.10M 7.01M 6.72M 6.66M 6.70M 6.54M 6.50M
Weighted Average Basic & Diluted Shares Outstanding		 6.25M 6.26M 6.93M 7.08M 7.10M 7.00M 6.62M 6.67M 6.64M 6.47M 6.50M
Cash Dividends to Common per Share		 - - - $0.27 $0.44 $0.52 $0.60 $0.63 $0.80 $0.84 $0.96

Quarterly Income Statements for First United

This table shows First United's income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Income / (Loss) Attributable to Common Shareholders		 4.51 1.76 3.70 4.91 5.77 6.19 5.81 5.98 6.95 5.78 6.66
Consolidated Net Income / (Loss)		 4.51 1.76 3.70 4.91 5.77 6.19 5.81 5.98 6.95 5.78 6.66
Net Income / (Loss) Continuing Operations		 4.51 1.76 3.70 4.91 5.77 6.19 5.81 5.98 6.95 5.78 6.66
Total Pre-Tax Income 		5.83 2.08 4.86 6.52 7.70 8.15 7.70 7.96 9.24 7.63 8.84
Total Revenue		 19 15 19 20 20 21 21 22 23 23 23
Net Interest Income / (Expense)		 14 14 14 15 15 16 16 17 17 18 18
Total Interest Income		 21 22 22 23 23 24 24 25 26 26 26
Loans and Leases Interest Income		 18 19 19 20 21 21 22 22 23 23 23
Investment Securities Interest Income		 1.92 1.89 1.80 1.75 1.70 1.72 1.81 1.83 1.88 1.90 1.94
Other Interest Income		 1.19 1.01 0.88 1.14 0.54 0.71 0.50 0.74 0.82 1.03 1.27
Total Interest Expense		 7.18 8.00 8.09 7.88 8.03 8.03 8.05 8.16 8.36 8.17 7.64
Deposits Interest Expense		 1.89 15 1.57 1.39 1.18 22 6.68 1.68 1.67 23 6.63
Short-Term Borrowings Interest Expense		 0.03 0.05 0.46 0.51 0.47 0.04 0.02 0.02 0.02 0.02 0.01
Long-Term Debt Interest Expense		 1.48 1.45 1.36 0.97 0.98 1.40 1.34 1.36 1.33 1.11 1.00
Total Non-Interest Income		 4.90 0.61 4.88 4.84 5.05 5.06 4.91 5.09 5.34 5.23 5.34
Other Service Charges		 4.72 4.79 4.79 4.78 4.91 4.92 4.82 4.94 5.07 5.33 5.21
Net Realized & Unrealized Capital Gains on Investments		 0.18 -4.18 0.08 0.06 0.14 0.13 0.09 0.15 0.26 -0.10 0.13
Provision for Credit Losses		 0.22 0.42 0.95 1.19 0.25 0.53 0.66 0.86 0.47 0.72 0.88
Total Non-Interest Expense		 13 12 13 12 12 12 13 13 13 15 14
Salaries and Employee Benefits		 6.96 6.39 7.16 7.26 7.16 6.46 7.33 7.32 7.59 7.11 8.20
Net Occupancy & Equipment Expense		 2.85 3.47 3.20 2.71 2.67 2.74 2.77 2.84 2.71 3.00 2.91
Marketing Expense		 0.24 0.31 0.13 0.18 0.15 0.21 0.24 0.20 0.18 0.29 0.23
Property & Liability Insurance Claims		 0.25 0.27 0.27 0.29 0.26 0.26 0.25 0.27 0.27 0.27 0.28
Other Operating Expenses		 2.47 1.88 2.13 1.93 2.08 2.42 1.99 2.35 2.24 4.20 2.07
Income Tax Expense		 1.32 0.32 1.16 1.61 1.93 1.96 1.89 1.98 2.29 1.86 2.18
Basic Earnings per Share		 $0.67 $0.26 $0.56 $0.75 $0.89 $0.95 $0.90 $0.92 $1.07 $0.89 $1.03
Weighted Average Basic Shares Outstanding		 6.71M 6.69M 6.64M 6.53M 6.47M 6.53M 6.47M 6.49M 6.50M 6.49M 6.48M
Diluted Earnings per Share		 $0.67 $0.27 $0.56 $0.75 $0.89 $0.95 $0.89 $0.92 $1.07 $0.89 $1.03
Weighted Average Diluted Shares Outstanding		 6.73M 6.70M 6.66M 6.54M 6.48M 6.54M 6.49M 6.51M 6.51M 6.50M 6.49M
Weighted Average Basic & Diluted Shares Outstanding		 6.65M 6.64M - 6.47M 6.47M 6.47M 6.48M 6.49M 6.50M 6.50M 6.45M
Cash Dividends to Common per Share		 $0.20 $0.20 $0.20 $0.20 $0.22 - $0.22 $0.22 $0.26 - $0.26

Annual Cash Flow Statements for First United

This table details how cash moves in and out of First United's business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Net Change in Cash & Equivalents		 17 11 20 -60 26 99 -34 -41 -25 29 53
Net Cash From Operating Activities		 22 11 13 18 16 16 20 27 22 22 19
Net Cash From Continuing Operating Activities		 22 11 13 18 16 16 20 27 22 22 19
Net Income / (Loss) Continuing Operations		 13 7.28 5.27 11 13 14 20 25 15 21 25
Consolidated Net Income / (Loss)		 13 -7.28 -5.27 11 13 14 20 25 15 21 25
Provision For Loan Losses		 1.05 -3.12 - 2.11 1.32 5.40 -0.82 -0.63 1.62 2.93 2.74
Depreciation Expense		 1.77 1.69 -1.90 2.44 3.12 3.30 3.27 3.08 3.80 3.30 2.54
Amortization Expense		 0.18 -0.27 -0.88 0.10 -0.55 0.99 -2.88 -0.20 1.12 0.49 0.52
Non-Cash Adjustments to Reconcile Net Income		 -0.73 19 19 0.21 -2.48 -3.39 1.46 -1.12 1.63 -2.08 0.99
Changes in Operating Assets and Liabilities, net		 6.94 1.03 2.12 2.77 1.85 -3.98 -0.78 0.36 -0.76 -2.94 -12
Net Cash From Investing Activities		 19 12 -7.66 -114 -33 -191 -28 -172 -82 -38 -48
Net Cash From Continuing Investing Activities		 19 12 -7.66 -114 -33 -191 -28 -172 -82 -38 -48
Purchase of Property, Leasehold Improvements and Equipment		 -1.37 -3.92 -6.56 -9.48 -3.97 -1.60 -1.13 -3.58 -0.35 -1.92 -3.97
Purchase of Investment Securities		 -104 -90 -49 -127 -91 -328 -117 -201 -136 -91 -66
Sale and/or Maturity of Investments		 118 105 47 23 62 139 90 32 55 54 22
Net Cash From Financing Activities		 -24 -12 15 35 43 275 -25 104 35 45 82
Net Cash From Continuing Financing Activities		 -24 -12 15 35 43 275 -25 104 35 45 82
Net Change in Deposits		 17 15 25 28 75 280 47 101 -20 24 160
Issuance of Debt		 - 0.17 13 29 - - 8.54 0.00 80 90 0.00
Issuance of Common Equity		 0.00 0.00 9.19 0.12 0.17 0.20 0.22 0.22 0.29 0.29 0.32
Repayment of Debt		 -39 -16 -11 -20 -29 0.43 -70 6.87 -19 -60 -73
Repurchase of Common Equity		 - - - - 0.00 -2.75 -7.18 0.00 -1.50 -4.03 0.00
Payment of Dividends		 -2.70 -2.03 -1.22 -1.91 -3.13 -3.65 -3.89 -3.99 -5.22 -5.37 -5.97
Cash Interest Paid		 9.81 8.32 7.30 8.11 11 9.76 5.97 4.78 24 32 34
Cash Income Taxes Paid		 0.13 0.54 0.18 0.53 1.01 1.21 5.66 7.51 6.13 5.38 8.48

Quarterly Cash Flow Statements for First United

This table details how cash moves in and out of First United's business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
Net Change in Cash & Equivalents		 -7.90 -31 37 -42 17 16 6.10 -5.32 16 36 -42
Net Cash From Operating Activities		 8.72 5.70 3.59 7.16 2.29 9.25 6.97 1.00 1.52 9.90 14
Net Cash From Continuing Operating Activities		 8.72 5.70 3.59 7.16 2.29 9.25 6.97 1.00 1.52 9.90 14
Net Income / (Loss) Continuing Operations		 4.51 1.76 3.70 4.91 5.77 6.19 5.81 5.98 6.95 5.78 6.66
Consolidated Net Income / (Loss)		 4.51 1.76 3.70 4.91 5.77 6.19 5.81 5.98 6.95 5.78 6.66
Provision For Loan Losses		 0.26 0.42 0.95 1.19 0.26 0.53 0.66 0.86 0.51 0.72 0.88
Depreciation Expense		 0.83 1.27 1.26 0.70 0.68 0.67 0.66 0.66 0.62 0.61 0.60
Amortization Expense		 0.17 0.62 -0.12 -0.08 0.65 0.77 0.16 0.32 -0.55 0.85 0.16
Non-Cash Adjustments to Reconcile Net Income		 -0.26 3.38 -0.02 -0.33 -0.93 -1.53 0.26 -0.42 -0.75 1.64 -1.00
Changes in Operating Assets and Liabilities, net		 3.21 -1.74 -2.17 0.77 -4.15 2.62 -0.57 -6.40 -5.27 0.31 6.62
Net Cash From Investing Activities		 -14 -1.86 28 -0.40 -25 -42 -3.19 -26 6.95 -26 -4.39
Net Cash From Continuing Investing Activities		 -14 -1.86 28 -0.40 -25 -42 -3.19 -26 6.95 -26 -4.39
Purchase of Property, Leasehold Improvements and Equipment		 -0.06 -0.01 -0.07 -0.12 -1.70 -0.05 -0.59 -0.29 -1.35 -1.75 -0.91
Purchase of Investment Securities		 -35 -27 -6.10 -12 -27 -45 -5.31 -29 -5.04 -27 -7.49
Sale and/or Maturity of Investments		 21 25 34 12 4.29 3.88 2.71 3.04 13 3.41 4.01
Net Cash From Financing Activities		 -2.92 -35 5.30 -49 40 48 2.33 20 7.60 52 -51
Net Cash From Continuing Financing Activities		 -2.92 -35 5.30 -49 40 48 2.33 20 7.60 52 -51
Net Change in Deposits		 -4.89 -24 12 -26 3.32 34 49 -9.37 65 56 16
Issuance of Common Equity		 0.08 0.08 0.07 0.07 0.07 0.08 0.08 0.08 0.08 0.09 0.09
Repayment of Debt		 3.25 -7.91 -40 - -35 15 -45 - -25 -48 -63
Repurchase of Common Equity		 -0.02 -1.48 - - 0.00 -0.00 0.00 - - - -2.17
Payment of Dividends		 -1.34 -1.34 -1.33 -1.33 -1.29 -1.42 -1.42 -1.43 -1.43 -1.69 -1.69
Cash Interest Paid		 7.68 7.42 7.78 7.44 7.53 9.39 7.84 7.92 9.27 9.15 7.69
Cash Income Taxes Paid		 2.27 1.31 0.07 0.85 2.32 2.14 0.05 3.62 2.64 2.17 0.11

Annual Balance Sheets for First United

This table presents First United's assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
Total Assets		 1,323 1,318 1,336 1,384 1,442 1,733 1,730 1,848 1,906 1,973 2,087
Cash and Due from Banks		 50 61 82 22 49 147 110 73 48 77 130
Interest Bearing Deposits at Other Banks		 1.95 2.60 1.48 1.35 1.47 2.76 5.90 1.60 1.41 1.31 1.78
Trading Account Securities		 276 237 240 232 225 295 343 362 311 270 279
Loans and Leases, Net of Allowance		 867 882 883 996 1,037 1,150 1,137 1,265 1,389 1,462 1,502
Loans and Leases		 879 892 893 1,007 1,050 1,166 1,153 1,279 1,406 1,480 1,521
Allowance for Loan and Lease Losses		 12 9.92 9.97 11 13 16 16 15 17 18 19
Loans Held for Sale		 - - - - 1.75 3.55 1,138 0.00 0.44 0.81 0.13
Accrued Investment Income		 - - - 20 16 6.24 4.82 6.05 7.49 7.47 7.90
Premises and Equipment, Net		 25 27 31 38 39 37 35 35 31 30 30
Intangible Assets		 - - - - - - - - - - 11
Other Assets		 92 98 88 63 62 82 82 94 104 110 113
Total Liabilities & Shareholders' Equity		 1,323 1,318 1,336 1,384 1,442 1,733 1,730 1,848 1,906 1,973 2,087
Total Liabilities		 1,203 1,204 1,228 1,267 1,316 1,602 1,588 1,696 1,744 1,794 1,884
Non-Interest Bearing Deposits		 205 219 252 262 295 420 502 507 428 427 453
Interest Bearing Deposits		 794 795 787 805 847 1,002 968 1,064 1,123 1,148 1,282
Short-Term Debt		 36 36 49 78 49 49 58 65 45 65 18
Accrued Interest Payable		 - - - - - - - 0.15 0.61 0.49 0.95
Other Short-Term Payables		 - - - 0.64 0.93 - - 1.20 1.33 1.42 1.69
Long-Term Debt		 148 132 121 101 101 101 31 31 111 121 96
Other Long-Term Liabilities		 21 23 19 20 23 30 30 29 35 31 32
Total Equity & Noncontrolling Interests		 121 114 108 117 126 131 142 152 162 179 204
Total Preferred & Common Equity		 121 114 108 117 126 131 142 152 162 179 204
Total Common Equity		 91 94 108 117 126 131 142 152 162 179 204
Common Stock		 22 22 32 32 32 30 24 24 24 21 22
Retained Earnings		 88 93 101 109 119 130 145 166 174 189 207
Accumulated Other Comprehensive Income / (Loss)		 -19 -21 -25 -24 -26 -29 -27 -39 -36 -30 -25

Quarterly Balance Sheets for First United

This table presents First United's assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q3 2023 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026
Period end date 3/31/2024 6/30/2024 9/30/2024 3/31/2025 6/30/2025 9/30/2025 3/31/2026
Total Assets		 1,913 1,869 1,916 1,980 2,007 2,024 2,039
Cash and Due from Banks		 86 44 61 83 77 92 89
Interest Bearing Deposits at Other Banks		 1.35 1.46 1.25 1.62 1.80 2.91 0.63
Trading Account Securities		 96 93 267 274 280 278 282
Loans and Leases, Net of Allowance		 1,394 1,405 1,430 1,461 1,483 1,477 1,505
Loans and Leases		 1,412 1,423 1,448 1,479 1,502 1,496 1,525
Allowance for Loan and Lease Losses		 18 18 18 18 19 19 20
Loans Held for Sale		 0.18 0.45 0.23 0.00 0.11 0.86 0.13
Accrued Investment Income		 7.76 7.12 7.05 6.98 7.16 7.48 7.29
Premises and Equipment, Net		 30 30 31 30 30 30 30
Intangible Assets		 - - - - - - 11
Other Assets		 286 277 107 108 115 119 107
Total Liabilities & Shareholders' Equity		 1,913 1,869 1,916 1,980 2,007 2,024 2,039
Total Liabilities		 1,747 1,704 1,742 1,796 1,816 1,825 1,834
Non-Interest Bearing Deposits		 423 424 419 422 426 430 451
Interest Bearing Deposits		 1,141 1,113 1,121 1,201 1,188 1,249 1,299
Short-Term Debt		 79 63 50 20 51 20 20
Accrued Interest Payable		 0.92 1.35 1.85 0.69 0.94 0.66 0.53
Other Short-Term Payables		 1.33 1.29 1.42 1.43 1.43 1.69 1.69
Long-Term Debt		 71 71 121 121 121 96 31
Other Long-Term Liabilities		 31 31 27 29 28 27 30
Total Equity & Noncontrolling Interests		 165 164 174 184 191 199 205
Total Preferred & Common Equity		 165 164 174 184 191 199 205
Total Common Equity		 165 164 174 184 191 199 205
Common Stock		 24 20 20 21 21 21 19
Retained Earnings		 176 180 184 193 198 203 212
Accumulated Other Comprehensive Income / (Loss)		 -35 -36 -31 -30 -28 -25 -26

Annual Metrics And Ratios for First United

This table displays calculated financial ratios and metrics derived from First United's official financial filings.

Metric 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025
Period end date 12/31/2015 12/31/2016 12/31/2017 12/31/2018 12/31/2019 12/31/2020 12/31/2021 12/31/2022 12/31/2023 12/31/2024 12/31/2025
DEI Shares Outstanding		 6,254,620.00 6,269,004.00 7,067,425.00 7,084,478.00 7,107,666.00 6,988,998.00 6,177,941.00 6,656,390.00 6,686,222.00 - 6,496,908.00
DEI Adjusted Shares Outstanding		 6,254,620.00 6,269,004.00 7,067,425.00 7,084,478.00 7,107,666.00 6,988,998.00 6,177,941.00 6,656,390.00 6,686,222.00 - 6,496,908.00
DEI Earnings Per Adjusted Shares Outstanding		 2.08 1.16 0.75 1.51 1.85 1.98 3.20 3.76 2.25 - 3.77
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 24.57% -15.15% 3.11% 10.07% 6.44% 6.25% 9.19% 3.26% -5.74% 11.86% 11.12%
EBITDA Growth		 151.03% -46.35% -17.86% 69.18% 19.24% 15.99% 20.92% 35.08% -32.23% 27.01% 14.82%
EBIT Growth		 183.40% -48.29% 21.36% 9.96% 22.59% 8.04% 47.90% 26.12% -41.17% 39.56% 19.57%
NOPAT Growth		 132.11% -43.95% -27.63% 102.45% 23.08% 5.42% 42.84% 26.70% -39.88% 36.58% 19.18%
Net Income Growth		 132.11% -43.95% -27.63% 102.45% 23.08% 5.42% 42.84% 26.70% -39.88% 36.58% 19.18%
EPS Growth		 243.75% -49.09% -30.95% 160.34% 22.52% 6.49% 49.75% 27.46% -40.16% 40.00% 19.68%
Operating Cash Flow Growth		 345.14% -48.23% 12.45% 41.55% -10.41% -1.35% 23.82% 32.58% -15.34% -0.84% -13.05%
Free Cash Flow Firm Growth		 1,562.30% -25.53% -71.52% -180.46% 583.69% -75.02% 747.72% -88.22% -774.06% 51.96% 371.66%
Invested Capital Growth		 -8.23% -7.46% -1.16% 6.30% -6.80% 2.01% -18.00% 7.27% 28.68% 14.90% -13.24%
Revenue Q/Q Growth		 25.75% -18.86% 2.10% 2.33% 1.17% 0.15% 14.29% -6.86% -6.39% 0.00% 2.86%
EBITDA Q/Q Growth		 129.92% -50.98% -22.91% 40.90% 3.19% 20.61% 35.10% -14.72% -16.24% 0.00% 0.66%
EBIT Q/Q Growth		 149.63% -53.66% 12.83% -3.15% 4.41% 6.49% 63.46% -15.52% -25.67% 0.00% -1.55%
NOPAT Q/Q Growth		 111.24% -49.30% -31.78% 47.09% 3.97% 3.72% 26.72% -2.26% -25.71% 0.00% -1.64%
Net Income Q/Q Growth		 111.24% -49.30% -31.78% 47.09% 3.97% 13.75% 17.84% -2.26% -25.71% 0.00% -1.64%
EPS Q/Q Growth		 200.00% -56.70% -37.63% 54.08% 3.93% 13.87% 19.92% -2.59% -25.50% 0.00% -1.57%
Operating Cash Flow Q/Q Growth		 108.42% -45.42% 92.01% 5.48% -2.34% -10.66% 6.47% -6.24% -8.60% 18.90% 3.48%
Free Cash Flow Firm Q/Q Growth		 -16.87% 69.71% -51.03% 18.98% -5.93% -18.62% 13.07% -17.45% -30.14% 0.00% 33.07%
Invested Capital Q/Q Growth		 1.17% -5.34% -3.27% -2.51% -1.79% -0.92% -2.78% -2.14% 0.73% 0.00% 0.63%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 34.74% 21.96% 17.50% 26.89% 30.13% 32.89% 36.42% 47.64% 34.25% 38.89% 40.19%
EBIT Margin		 31.58% 19.25% 22.65% 22.63% 26.06% 26.50% 35.90% 43.84% 27.36% 34.14% 36.73%
Profit (Net Income) Margin		 21.08% 13.92% 9.77% 17.97% 20.78% 20.62% 26.97% 33.10% 21.11% 25.77% 27.64%
Tax Burden Percent		 66.74% 72.35% 43.14% 79.42% 79.74% 77.81% 75.15% 75.49% 77.33% 75.54% 75.35%
Interest Burden Percent		 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 100.00% 99.77% 99.95% 99.87%
Effective Tax Rate		 33.26% 27.65% 56.86% 20.58% 20.26% 22.19% 24.85% 24.51% 22.67% 24.46% 24.65%
Return on Invested Capital (ROIC)		 4.09% 2.49% 1.88% 3.72% 4.60% 4.97% 7.73% 10.48% 5.33% 6.02% 7.18%
ROIC Less NNEP Spread (ROIC-NNEP)		 4.09% 2.49% 1.88% 3.72% 4.60% 4.97% 7.73% 10.48% 5.33% 6.02% 7.18%
Return on Net Nonoperating Assets (RNNOA)		 7.22% 3.72% 2.86% 5.75% 6.21% 5.80% 6.76% 6.57% 4.28% 6.04% 5.62%
Return on Equity (ROE)		 11.31% 6.21% 4.75% 9.46% 10.81% 10.77% 14.49% 17.06% 9.60% 12.06% 12.80%
Cash Return on Invested Capital (CROIC)		 12.67% 10.24% 3.05% -2.39% 11.63% 2.98% 27.51% 3.47% -19.76% -7.85% 21.36%
Operating Return on Assets (OROA)		 1.47% 0.76% 0.92% 0.99% 1.17% 1.12% 1.52% 1.85% 1.04% 1.40% 1.60%
Return on Assets (ROA)		 0.98% 0.55% 0.40% 0.78% 0.93% 0.87% 1.14% 1.40% 0.80% 1.06% 1.21%
Return on Common Equity (ROCE)		 8.36% 4.89% 4.32% 9.46% 10.81% 10.77% 14.49% 17.06% 9.60% 12.06% 12.80%
Return on Equity Simple (ROE_SIMPLE)		 10.76% 6.40% 4.86% 9.11% 10.42% 10.56% 13.93% 16.50% 9.30% 11.47% 12.04%
Net Operating Profit after Tax (NOPAT)		 13 7.28 5.27 11 13 14 20 25 15 21 25
NOPAT Margin		 21.08% 13.92% 9.77% 17.97% 20.78% 20.62% 26.97% 33.10% 21.11% 25.77% 27.64%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 47.64% 54.68% 58.22% 57.74% 56.60% 48.27% 44.31% 46.49% 56.54% 50.14% 46.88%
Operating Expenses to Revenue		 66.71% 74.78% 72.65% 73.81% 71.85% 65.45% 65.22% 56.99% 70.43% 62.20% 60.22%
Earnings before Interest and Taxes (EBIT)		 19 10 12 13 16 18 26 33 20 27 33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 21 11 9.44 16 19 22 27 36 24 31 36
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.66 0.87 0.92 0.79 1.14 0.72 0.74 0.80 0.93 1.21 1.18
Price to Tangible Book Value (P/TBV)		 0.75 0.98 1.03 0.88 1.25 0.79 0.81 0.87 1.01 1.29 1.25
Price to Revenue (P/Rev)		 0.97 1.55 1.85 1.57 2.28 1.41 1.43 1.61 2.12 2.71 2.71
Price to Earnings (P/E)		 5.78 15.46 24.65 8.72 10.97 6.83 5.29 4.86 10.03 10.53 9.79
Dividend Yield		 0.00% 0.00% 0.00% 2.06% 1.97% 3.85% 3.43% 3.28% 3.45% 2.45% 2.49%
Earnings Yield		 17.30% 6.47% 4.06% 11.47% 9.11% 14.64% 18.91% 20.58% 9.97% 9.50% 10.22%
Enterprise Value to Invested Capital (EV/IC)		 0.73 0.73 0.67 0.84 0.88 0.34 0.34 0.58 0.81 0.89 0.70
Enterprise Value to Revenue (EV/Rev)		 3.58 3.93 3.45 4.18 3.86 1.42 1.06 1.89 3.61 4.07 2.50
Enterprise Value to EBITDA (EV/EBITDA)		 10.31 17.91 19.71 15.54 12.81 4.31 2.90 3.96 10.54 10.46 6.23
Enterprise Value to EBIT (EV/EBIT)		 11.34 20.44 15.23 18.47 14.80 5.35 2.94 4.31 13.20 11.92 6.81
Enterprise Value to NOPAT (EV/NOPAT)		 16.99 28.25 35.30 23.26 18.56 6.88 3.92 5.70 17.11 15.78 9.05
Enterprise Value to Operating Cash Flow (EV/OCF)		 9.94 17.90 14.39 13.56 14.87 5.89 3.87 5.38 11.46 14.57 11.46
Enterprise Value to Free Cash Flow (EV/FCFF)		 5.48 6.86 21.78 0.00 7.33 11.46 1.10 17.24 0.00 0.00 3.04
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 1.52 1.48 1.57 1.53 1.19 1.15 0.62 0.63 0.97 1.04 0.56
Long-Term Debt to Equity		 1.22 1.16 1.12 0.86 0.80 0.77 0.22 0.20 0.69 0.67 0.47
Financial Leverage		 1.77 1.50 1.52 1.55 1.35 1.17 0.87 0.63 0.80 1.00 0.78
Leverage Ratio		 11.56 11.27 11.95 12.07 11.63 12.36 12.69 12.18 11.97 11.37 10.60
Compound Leverage Factor		 11.56 11.27 11.95 12.07 11.63 12.36 12.69 12.18 11.94 11.36 10.59
Debt to Total Capital		 60.29% 59.60% 61.03% 60.41% 54.30% 53.39% 38.45% 38.62% 49.13% 50.96% 35.81%
Short-Term Debt to Total Capital		 11.78% 12.79% 17.56% 26.28% 17.68% 17.49% 25.03% 26.11% 14.27% 17.89% 5.57%
Long-Term Debt to Total Capital		 48.51% 46.81% 43.47% 34.13% 36.62% 35.90% 13.42% 12.51% 34.86% 33.07% 30.24%
Preferred Equity to Total Capital		 9.86% 7.11% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 29.85% 33.29% 38.97% 39.59% 45.70% 46.61% 61.55% 61.38% 50.87% 49.04% 64.19%
Debt to EBITDA		 8.56 14.60 17.99 11.19 7.86 6.80 3.32 2.65 6.40 6.00 3.19
Net Debt to EBITDA		 6.13 9.09 9.12 9.72 5.24 0.03 -1.01 0.59 4.36 3.48 -0.51
Long-Term Debt to EBITDA		 6.89 11.47 12.82 6.32 5.30 4.57 1.16 0.86 4.54 3.90 2.69
Debt to NOPAT		 14.11 23.04 32.22 16.75 11.40 10.84 4.48 3.81 10.38 9.06 4.63
Net Debt to NOPAT		 10.10 14.34 16.33 14.54 7.59 0.05 -1.37 0.85 7.08 5.25 -0.74
Long-Term Debt to NOPAT		 11.36 18.09 22.95 9.46 7.69 7.29 1.56 1.23 7.37 5.88 3.91
Noncontrolling Interest Sharing Ratio		 26.11% 21.32% 9.01% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 40 30 8.54 -6.87 33 8.30 70 8.29 -56 -27 73
Operating Cash Flow to CapEx		 1,656.64% 313.67% 230.13% 192.91% 412.53% 1,008.04% 1,840.17% 805.55% 6,628.32% 1,158.66% 488.13%
Free Cash Flow to Firm to Interest Expense		 4.28 3.65 1.16 -0.85 2.88 0.86 12.32 1.73 -2.30 -0.84 2.23
Operating Cash Flow to Interest Expense		 2.36 1.40 1.75 2.26 1.42 1.67 3.50 5.54 0.93 0.70 0.59
Operating Cash Flow Less CapEx to Interest Expense		 2.22 0.95 0.99 1.09 1.08 1.51 3.31 4.85 0.91 0.64 0.47
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.05 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.04
Fixed Asset Turnover		 2.43 2.00 1.86 1.73 1.65 1.78 2.05 2.17 2.15 2.59 2.97
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 304 281 278 296 276 281 231 247 318 366 317
Invested Capital Turnover		 0.19 0.18 0.19 0.21 0.22 0.24 0.29 0.32 0.25 0.23 0.26
Increase / (Decrease) in Invested Capital		 -27 -23 -3.27 18 -20 5.54 -51 17 71 47 -48
Enterprise Value (EV)		 221 206 186 248 244 95 77 143 258 325 222
Market Capitalization		 59 81 100 93 144 95 105 122 151 217 240
Book Value per Share		 $14.51 $14.95 $15.34 $16.52 $17.72 $18.75 $21.15 $22.80 $24.21 $27.72 $31.34
Tangible Book Value per Share		 $12.75 $13.19 $13.78 $14.97 $16.17 $17.18 $19.35 $20.94 $22.40 $25.90 $29.58
Total Capital		 304 281 278 296 276 281 231 247 318 366 317
Total Debt		 183 168 170 179 150 150 89 95 156 186 114
Total Long-Term Debt		 148 132 121 101 101 101 31 31 111 121 96
Net Debt		 131 104 86 155 100 0.66 -27 21 107 108 -18
Capital Expenditures (CapEx)		 1.34 3.66 5.62 9.48 3.97 1.60 1.09 3.30 0.34 1.92 3.97
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 183 168 170 179 150 150 89 95 156 186 114
Total Depreciation and Amortization (D&A)		 1.95 1.42 -2.78 2.53 2.57 4.29 0.39 2.88 4.92 3.79 3.06
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $1.31 $0.84 $0.58 $1.51 $1.85 $1.98 $2.95 $3.77 $2.25 $3.15 $3.78
Adjusted Weighted Average Basic Shares Outstanding		 6.25M 6.27M 7.07M 7.09M 7.11M 7.00M 6.71M 6.65M 6.69M 6.53M 6.49M
Adjusted Diluted Earnings per Share		 $1.31 $0.84 $0.58 $1.51 $1.85 $1.97 $2.95 $3.76 $2.25 $3.15 $3.77
Adjusted Weighted Average Diluted Shares Outstanding		 6.25M 6.27M 7.07M 7.09M 7.11M 7.01M 6.72M 6.66M 6.70M 6.54M 6.50M
Adjusted Basic & Diluted Earnings per Share		 $1.31 $0.84 $0.58 $1.51 $1.85 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 6.25M 6.26M 6.93M 7.08M 7.10M 7.00M 6.62M 6.67M 6.64M 6.47M 6.50M
Normalized Net Operating Profit after Tax (NOPAT)		 13 7.28 8.55 11 13 14 20 25 15 21 25
Normalized NOPAT Margin		 21.08% 13.92% 15.86% 17.97% 20.78% 20.62% 26.97% 33.10% 21.16% 25.79% 27.68%
Pre Tax Income Margin		 31.58% 19.25% 22.65% 22.63% 26.06% 26.50% 35.90% 43.84% 27.30% 34.12% 36.69%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 2.07 1.22 1.66 1.66 1.43 1.84 4.60 6.93 0.80 0.85 1.00
NOPAT to Interest Expense		 1.38 0.89 0.71 1.32 1.14 1.43 3.46 5.23 0.62 0.64 0.75
EBIT Less CapEx to Interest Expense		 1.93 0.78 0.90 0.49 1.08 1.68 4.41 6.24 0.79 0.79 0.87
NOPAT Less CapEx to Interest Expense		 1.24 0.44 -0.05 0.15 0.79 1.27 3.27 4.54 0.61 0.58 0.63
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 20.78% 27.81% 23.06% 17.92% 23.80% 26.34% 19.68% 15.91% 34.64% 26.12% 24.34%
Augmented Payout Ratio		 20.78% 27.81% 23.06% 17.92% 23.80% 46.24% 55.99% 15.91% 44.58% 45.72% 24.34%

Quarterly Metrics And Ratios for First United

This table displays calculated financial ratios and metrics derived from First United's official financial filings.

Metric Q3 2023 Q4 2023 Q1 2024 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026
DEI Shares Outstanding		 6,711,442.00 6,686,222.00 6,643,161.00 6,648,645.00 6,465,601.00 6,468,625.00 6,473,375.00 6,478,634.00 6,494,611.00 6,496,908.00 6,501,382.00
DEI Adjusted Shares Outstanding		 6,711,442.00 6,686,222.00 6,643,161.00 6,648,645.00 6,465,601.00 6,468,625.00 6,473,375.00 6,478,634.00 6,494,611.00 6,496,908.00 6,501,382.00
DEI Earnings Per Adjusted Shares Outstanding		 0.67 0.26 0.56 0.74 0.89 0.96 0.90 0.92 1.07 0.89 1.02
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -4.83% -24.74% -1.18% 7.13% 7.41% 40.21% 12.00% 8.54% 12.11% 11.87% 11.87%
EBITDA Growth		 -35.04% -54.43% -10.92% 3.96% 31.62% 123.30% 41.86% 25.16% 3.46% 2.65% 12.82%
EBIT Growth		 -38.84% -76.47% -15.18% 11.72% 31.26% 292.58% 58.40% 22.05% 20.32% -6.29% 14.86%
NOPAT Growth		 -34.93% -74.77% -15.47% 11.33% 27.88% 251.88% 57.00% 21.77% 20.40% -6.61% 14.76%
Net Income Growth		 -34.93% -74.77% -15.47% 11.33% 27.88% 251.88% 57.00% 21.77% 20.40% -6.61% 14.76%
EPS Growth		 -35.58% -74.04% -13.85% 13.64% 32.84% 251.85% 58.93% 22.67% 20.22% -6.32% 15.73%
Operating Cash Flow Growth		 5.49% -27.04% 2.22% 57.91% -73.80% 62.08% 94.12% -86.11% -33.61% 7.05% 99.83%
Free Cash Flow Firm Growth		 -578.44% -606.59% 477.94% 130.00% 60.06% 40.40% -199.89% -353.67% 257.12% 231.43% 123.77%
Invested Capital Growth		 25.01% 28.68% 0.00% -5.85% 9.25% 14.90% 0.00% 21.96% -8.66% -13.24% -21.29%
Revenue Q/Q Growth		 0.74% -21.60% 26.24% 7.45% 1.01% 2.34% 0.84% 4.12% 4.34% 2.12% 0.84%
EBITDA Q/Q Growth		 0.17% -42.31% 51.24% 18.96% 26.83% -2.13% -3.92% 8.19% 4.84% -2.89% 5.60%
EBIT Q/Q Growth		 0.72% -64.70% 134.22% 34.18% 18.34% 5.56% -5.50% 3.39% 16.66% -17.78% 15.82%
NOPAT Q/Q Growth		 2.24% -61.05% 110.35% 32.88% 17.44% 7.19% -6.14% 3.07% 16.11% -16.85% 15.34%
Net Income Q/Q Growth		 2.24% -61.05% 110.35% 32.88% 17.44% 7.19% -6.14% 3.07% 16.11% -16.85% 15.34%
EPS Q/Q Growth		 1.52% -59.70% 107.41% 33.93% 18.67% 6.74% -6.32% 3.37% 16.30% -16.82% 15.73%
Operating Cash Flow Q/Q Growth		 92.24% -34.59% -37.10% 99.64% -68.10% 304.60% -24.66% -85.71% 52.46% 552.41% 40.63%
Free Cash Flow Firm Q/Q Growth		 24.77% -17.86% 561.91% -92.67% -200.14% -75.89% -674.15% 81.40% 162.02% 47.14% 39.98%
Invested Capital Q/Q Growth		 -0.08% 0.73% -100.00% 0.00% 15.94% 5.95% -11.12% 11.71% -13.17% 0.63% -19.37%
Profitability Metrics		 - - - - - - - - - - -
EBITDA Margin		 36.41% 26.79% 32.10% 35.53% 44.62% 42.67% 40.65% 40.98% 41.17% 39.15% 41.00%
EBIT Margin		 31.14% 14.02% 26.01% 32.48% 38.05% 39.25% 36.78% 36.52% 40.83% 32.88% 37.76%
Profit (Net Income) Margin		 23.90% 11.88% 19.79% 24.47% 28.46% 29.80% 27.74% 27.46% 30.56% 24.88% 28.46%
Tax Burden Percent		 77.36% 84.72% 76.09% 75.36% 74.92% 75.94% 75.42% 75.19% 75.18% 75.67% 75.36%
Interest Burden Percent		 99.23% 100.00% 100.00% 100.00% 99.82% 100.00% 100.00% 100.00% 99.54% 100.00% 100.00%
Effective Tax Rate		 22.64% 15.28% 23.91% 24.64% 25.08% 24.06% 24.58% 24.81% 24.82% 24.33% 24.64%
Return on Invested Capital (ROIC)		 6.41% 3.00% 0.00% 5.78% 6.36% 6.96% 14.01% 6.96% 7.98% 6.46% 8.93%
ROIC Less NNEP Spread (ROIC-NNEP)		 6.41% 3.00% 0.00% 5.78% 6.36% 6.96% 14.01% 6.96% 7.98% 6.46% 8.93%
Return on Net Nonoperating Assets (RNNOA)		 5.84% 2.41% 0.00% 5.33% 6.02% 6.99% 10.77% 5.98% 6.14% 5.06% 4.41%
Return on Equity (ROE)		 12.24% 5.40% 0.00% 11.11% 12.38% 13.94% 24.78% 12.95% 14.12% 11.52% 13.34%
Cash Return on Invested Capital (CROIC)		 -15.10% -19.76% 0.00% 10.87% -3.95% -7.85% -186.04% -12.60% 16.60% 21.36% 32.56%
Operating Return on Assets (OROA)		 1.28% 0.53% 0.00% 1.24% 1.47% 1.61% 1.52% 1.58% 1.79% 1.44% 1.71%
Return on Assets (ROA)		 0.98% 0.45% 0.00% 0.93% 1.10% 1.23% 1.15% 1.19% 1.34% 1.09% 1.29%
Return on Common Equity (ROCE)		 12.24% 5.40% 0.00% 11.11% 12.38% 13.94% 24.78% 12.95% 14.12% 11.52% 13.34%
Return on Equity Simple (ROE_SIMPLE)		 12.25% 0.00% 0.00% 9.07% 9.28% 0.00% 12.35% 12.42% 12.52% 0.00% 12.36%
Net Operating Profit after Tax (NOPAT)		 4.51 1.76 3.70 4.91 5.77 6.19 5.81 5.98 6.95 5.78 6.66
NOPAT Margin		 23.90% 11.88% 19.79% 24.47% 28.46% 29.80% 27.74% 27.46% 30.56% 24.88% 28.46%
Net Nonoperating Expense Percent (NNEP)		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
SG&A Expenses to Revenue		 53.26% 68.68% 56.11% 50.55% 49.21% 45.30% 49.40% 47.52% 46.10% 44.77% 48.45%
Operating Expenses to Revenue		 67.71% 83.15% 68.93% 61.58% 60.72% 58.20% 60.09% 59.53% 57.11% 64.04% 58.48%
Earnings before Interest and Taxes (EBIT)		 5.88 2.08 4.86 6.52 7.72 8.15 7.70 7.96 9.29 7.63 8.84
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 6.88 3.97 6.00 7.14 9.05 8.86 8.51 8.93 9.36 9.09 9.60
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 0.63 0.93 0.00 0.80 1.07 1.17 1.02 1.04 1.19 1.18 1.15
Price to Tangible Book Value (P/TBV)		 0.68 1.01 0.00 0.86 1.15 1.25 1.09 1.11 1.26 1.25 1.22
Price to Revenue (P/Rev)		 1.37 2.12 2.06 1.81 2.52 2.62 2.29 2.38 2.75 2.71 2.59
Price to Earnings (P/E)		 5.13 10.03 10.18 8.80 11.54 10.16 8.27 8.41 9.51 9.79 9.32
Dividend Yield		 4.71% 3.45% 3.63% 4.06% 2.78% 2.54% 2.90% 2.79% 2.41% 2.49% 2.64%
Earnings Yield		 19.48% 9.97% 9.82% 11.37% 8.67% 9.84% 12.09% 11.90% 10.52% 10.22% 10.73%
Enterprise Value to Invested Capital (EV/IC)		 0.53 0.81 0.00 0.74 0.85 0.87 0.75 0.81 0.82 0.70 0.77
Enterprise Value to Revenue (EV/Rev)		 2.20 3.61 0.00 3.03 3.99 3.97 2.98 3.49 2.99 2.50 2.16
Enterprise Value to EBITDA (EV/EBITDA)		 5.74 10.54 0.00 9.15 11.28 10.22 7.28 8.33 7.29 6.23 5.37
Enterprise Value to EBIT (EV/EBIT)		 6.38 13.20 0.00 11.34 13.93 11.64 8.12 9.28 7.80 6.81 5.85
Enterprise Value to NOPAT (EV/NOPAT)		 8.27 17.11 0.00 14.74 18.27 15.41 10.78 12.31 10.35 9.05 7.77
Enterprise Value to Operating Cash Flow (EV/OCF)		 6.82 11.46 0.00 8.71 15.74 14.23 9.52 15.00 13.78 11.46 7.49
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 6.57 0.00 0.00 0.00 0.00 4.71 3.04 2.09
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.91 0.97 0.00 0.81 0.98 1.04 0.77 0.90 0.58 0.56 0.25
Long-Term Debt to Equity		 0.43 0.69 0.00 0.43 0.70 0.67 0.66 0.63 0.48 0.47 0.15
Financial Leverage		 0.91 0.80 0.00 0.92 0.95 1.00 0.77 0.86 0.77 0.78 0.49
Leverage Ratio		 12.49 11.97 0.00 11.89 11.28 11.37 10.78 10.91 10.56 10.60 10.33
Compound Leverage Factor		 12.40 11.97 0.00 11.89 11.26 11.37 10.78 10.91 10.51 10.60 10.33
Debt to Total Capital		 47.62% 49.13% 0.00% 44.85% 49.59% 50.96% 43.47% 47.35% 36.84% 35.81% 19.75%
Short-Term Debt to Total Capital		 25.16% 14.27% 0.00% 21.02% 14.55% 17.89% 6.26% 14.04% 6.41% 5.57% 7.66%
Long-Term Debt to Total Capital		 22.45% 34.86% 0.00% 23.83% 35.04% 33.07% 37.21% 33.31% 30.43% 30.24% 12.09%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Common Equity to Total Capital		 52.38% 50.87% 0.00% 55.15% 50.41% 49.04% 56.53% 52.65% 63.16% 64.19% 80.25%
Debt to EBITDA		 5.16 6.40 0.00 5.57 6.54 6.00 4.21 4.90 3.28 3.19 1.38
Net Debt to EBITDA		 2.18 4.36 0.00 3.69 4.16 3.48 1.69 2.64 0.59 -0.51 -1.07
Long-Term Debt to EBITDA		 2.43 4.54 0.00 2.96 4.62 3.90 3.60 3.45 2.71 2.69 0.84
Debt to NOPAT		 7.42 10.38 0.00 8.97 10.60 9.06 6.23 7.24 4.66 4.63 1.99
Net Debt to NOPAT		 3.13 7.08 0.00 5.94 6.74 5.25 2.51 3.91 0.84 -0.74 -1.55
Long-Term Debt to NOPAT		 3.50 7.37 0.00 4.77 7.49 5.88 5.33 5.09 3.85 3.91 1.22
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Liquidity Ratios		 - - - - - - - - - - -
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -59 -69 320 23 -23 -41 -319 -59 37 54 76
Operating Cash Flow to CapEx		 14,064.52% 81,485.71% 5,520.00% 6,175.00% 134.65% 20,544.44% 1,190.60% 344.29% 112.45% 566.84% 1,532.82%
Free Cash Flow to Firm to Interest Expense		 -8.17 -8.65 39.52 2.97 -2.92 -5.14 -39.67 -7.27 4.41 6.64 9.93
Operating Cash Flow to Interest Expense		 1.21 0.71 0.44 0.91 0.28 1.15 0.87 0.12 0.18 1.21 1.82
Operating Cash Flow Less CapEx to Interest Expense		 1.21 0.71 0.44 0.89 0.07 1.15 0.79 0.09 0.02 1.00 1.70
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.04 0.04 0.00 0.04 0.04 0.04 0.04 0.04 0.04 0.04 0.05
Fixed Asset Turnover		 2.33 2.15 0.00 2.29 2.42 2.59 2.73 2.82 2.82 2.97 3.04
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 316 318 0.00 298 345 366 325 363 315 317 256
Invested Capital Turnover		 0.27 0.25 0.00 0.24 0.22 0.23 0.51 0.25 0.26 0.26 0.31
Increase / (Decrease) in Invested Capital		 63 71 -316 -18 29 47 325 65 -30 -48 -69
Enterprise Value (EV)		 168 258 0.00 219 295 317 244 292 258 222 197
Market Capitalization		 104 151 146 131 186 209 188 200 237 240 237
Book Value per Share		 $24.66 $24.21 $0.00 $24.69 $26.90 $27.72 $28.38 $29.50 $30.66 $31.34 $31.57
Tangible Book Value per Share		 $22.87 $22.40 $0.00 $22.90 $25.07 $25.90 $26.57 $27.71 $28.88 $29.58 $29.82
Total Capital		 316 318 0.00 298 345 366 325 363 315 317 256
Total Debt		 150 156 0.00 133 171 186 141 172 116 114 51
Total Long-Term Debt		 71 111 0.00 71 121 121 121 121 96 96 31
Net Debt		 63 107 0.00 88 109 108 57 93 21 -18 -39
Capital Expenditures (CapEx)		 0.06 0.01 0.07 0.12 1.70 0.05 0.59 0.29 1.35 1.75 0.91
Net Nonoperating Expense (NNE)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Net Nonoperating Obligations (NNO)		 150 156 0.00 133 171 186 141 172 116 114 51
Total Depreciation and Amortization (D&A)		 1.00 1.89 1.14 0.61 1.33 0.71 0.81 0.97 0.08 1.46 0.76
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.67 $0.26 $0.00 $0.75 $0.89 $0.95 $0.90 $0.92 $1.07 $0.89 $1.03
Adjusted Weighted Average Basic Shares Outstanding		 6.71M 6.69M 0.00 6.53M 6.47M 6.53M 6.47M 6.49M 6.50M 6.49M 6.48M
Adjusted Diluted Earnings per Share		 $0.67 $0.27 $0.00 $0.75 $0.89 $0.95 $0.89 $0.92 $1.07 $0.89 $1.03
Adjusted Weighted Average Diluted Shares Outstanding		 6.73M 6.70M 0.00 6.54M 6.48M 6.54M 6.49M 6.51M 6.51M 6.50M 6.49M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 6.69M 6.64M 0.00 6.47M 6.47M 6.47M 6.48M 6.49M 6.50M 6.50M 6.45M
Normalized Net Operating Profit after Tax (NOPAT)		 4.55 1.76 3.70 4.91 5.78 6.19 5.81 5.98 6.98 5.78 6.66
Normalized NOPAT Margin		 24.09% 11.88% 19.79% 24.47% 28.51% 29.80% 27.74% 27.46% 30.70% 24.88% 28.46%
Pre Tax Income Margin		 30.90% 14.02% 26.01% 32.48% 37.98% 39.25% 36.78% 36.52% 40.65% 32.88% 37.76%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 0.82 0.26 0.60 0.83 0.96 1.02 0.96 0.97 1.11 0.93 1.16
NOPAT to Interest Expense		 0.63 0.22 0.46 0.62 0.72 0.77 0.72 0.73 0.83 0.71 0.87
EBIT Less CapEx to Interest Expense		 0.81 0.26 0.59 0.81 0.75 1.01 0.88 0.94 0.95 0.72 1.04
NOPAT Less CapEx to Interest Expense		 0.62 0.22 0.45 0.61 0.51 0.77 0.65 0.70 0.67 0.49 0.75
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 24.06% 34.64% 37.16% 35.87% 32.77% 26.12% 24.12% 23.43% 22.87% 24.34% 24.57%
Augmented Payout Ratio		 24.16% 44.58% 37.16% 73.01% 66.89% 45.72% 24.12% 23.43% 22.87% 24.34% 33.13%

Financials Breakdown Chart

Key Financial Trends

First United (NASDAQ: FUNC) showed generally solid earnings growth over the last year, but the latest quarter also highlighted some pressure on deposits, funding costs, and balance-sheet leverage. As a regional bank, the key story is still net interest income, deposit stability, and credit quality. Over the last four years of quarterly filings, FUNC has mostly remained profitable, but results have been uneven quarter to quarter.

  • Revenue and earnings improved year over year in Q1 2026. Total revenue rose to $23.4 million from $20.9 million in Q1 2025, while net income increased to $6.7 million from $5.8 million.
  • Net interest income strengthened in Q1 2026. Net interest income was $18.1 million, up from $16.0 million in Q1 2025, helped by higher loan interest income and better overall spread performance versus the prior year.
  • Credit costs remained manageable. Provision for credit losses was $879,000 in Q1 2026, only modestly above $656,000 in Q1 2025, suggesting loan losses are still under control.
  • Retained earnings continue to build. Retained earnings reached $212.3 million in Q1 2026, up from $193.4 million a year earlier, reflecting continued profitability over time.
  • Tangible deposit funding remains a core strength. Non-interest-bearing deposits were $451.3 million in Q1 2026, which provides a relatively low-cost funding base for a bank.
  • Balance-sheet size was fairly stable. Total assets were $2.04 billion in Q1 2026, only slightly above $2.02 billion in Q3 2025 and $2.00 billion in Q2 2025.
  • Loan growth was steady but not explosive. Net loans and leases rose to $1.51 billion in Q1 2026 from $1.48 billion in Q2 2025 and $1.43 billion in Q3 2024, indicating gradual expansion rather than a sharp acceleration.
  • The bank continued paying dividends and repurchasing shares selectively. Dividend payments were $1.7 million in Q1 2026, and share repurchases were $2.2 million, showing ongoing capital return to shareholders.
  • Deposits fell sequentially in Q1 2026. Net change in deposits was negative $15.5 million, compared with positive growth in several prior quarters, which may signal some funding pressure.
  • Funding costs remain elevated relative to 2024. In Q1 2026, deposit interest expense was $6.6 million, still well above early-2024 levels, which can weigh on margins if asset yields do not keep pace.
  • Cash flow was weak in the latest quarter. Net cash from operating activities was $13.9 million, but net change in cash and equivalents was negative $41.8 million because of investing outflows and financing activity.
  • Debt and short-term leverage have been volatile. Short-term debt was just $19.6 million in Q1 2026, down sharply from $95.9 million in Q3 2025 and $120.9 million in Q2-Q3 2024, while Q1 2026 also included a large debt repayment of $63.1 million.
  • Non-interest expense jumped meaningfully versus prior quarters. Q1 2026 total non-interest expense was $13.7 million, above $9.9 million in Q4 2025 and $12.6 million in Q1 2025, suggesting cost control deserves attention.

Bottom line: First United remains profitable and has shown better year-over-year earnings momentum, but the latest quarter was not spotless. Investors should watch whether FUNC can keep net interest income growing while stabilizing deposits, controlling expenses, and avoiding a further rise in credit costs. For a regional bank, those factors will likely matter more than headline revenue growth.

07/21/26 07:01 AM ETAI Generated. May Contain Errors.

First United Financials - Frequently Asked Questions

According to the most recent income statement we have on file, First United's fiscal year ends in December. Their fiscal year 2025 ended on December 31, 2025.

First United's net income appears to be on an upward trend, with a most recent value of $24.52 million in 2025, rising from $12.99 million in 2015. The previous period was $20.57 million in 2024. Check out First United's forecast to explore projected trends and price targets.

Over the last 10 years, First United's total revenue changed from $61.63 million in 2015 to $88.68 million in 2025, a change of 43.9%.

First United's total liabilities were at $1.88 billion at the end of 2025, a 5.0% increase from 2024, and a 56.6% increase since 2015.

In the past 10 years, First United's cash and equivalents has ranged from $22.19 million in 2018 to $146.67 million in 2020, and is currently $129.83 million as of their latest financial filing in 2025.

Over the last 10 years, First United's book value per share changed from 14.51 in 2015 to 31.34 in 2025, a change of 116.0%.


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Financial statements for NASDAQ:FUNC last updated on 7/9/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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