First United Q2 GAAP EPS Misses at $0.87, But Core Earnings Hit $1.13
FUNC sits 40% above its 52-week low of $31.71.
Summary
First United reported Q2 GAAP EPS of $0.87, missing the $1.03 from last quarter and $0.92 a year ago, due to a one-time $1.7M (net of tax) consulting charge tied to core processor contract negotiations. Excluding that charge, non-GAAP EPS was $1.13, up from $1.02 in Q1 and $0.92 in Q2 2025. Net interest margin expanded to 3.98% on higher loan yields and lower funding costs, with net interest income of $18.5M. Loan production remained strong with $66M in commercial and $34M in residential originations, while a $0.8M provision for credit losses was recorded amid economic uncertainty. The results follow a strong Q1 that featured a 15.5% net income jump and a re-authorized buyback program.
At the time of this announcement, FUNC was trading at $44.27 on NASDAQ in the Finance sector, with a market capitalization of approximately $287.8M. The 52-week trading range was $31.71 to $46.30. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: PR Newswire.