Business UpdateMay 7, 2026, 09:26 AM
First United Reports Strong 2025 Net Income $24.5M; Q1 2026 EPS $1.02
AI Summary
First United Corporation presented its financial data and performance trends at its Annual Meeting of Shareholders. The company reported strong net income of $24.5 million, or $3.77 per diluted share, for the year ended December 31, 2025, and continued steady performance in the first quarter of 2026 with non-GAAP earnings of $6.6 million, or $1.02 diluted EPS. Strategic initiatives included disciplined pricing, strong loan production, organic deposit growth, and branch network optimization. The presentation also noted the retirement of Executive Chairman Carissa Rodeheaver.
Key Highlights
- Net income for 2025 was $24.5 million, or $3.77 per diluted share, up from $20.6 million in 2024.
- Non-GAAP net income for Q1 2026 was $6.6 million, or $1.02 diluted EPS.
- Net interest margin increased to 3.67% in 2025 and further to 3.83% in Q1 2026.
- Total assets were $2.1 billion at December 31, 2025, declining to $2.0 billion in Q1 2026.
- Efficiency ratio improved to 58.19% in 2025 and was 58.45% in Q1 2026.
- Quarterly dividend increased to $0.26 per share for Q4 2025 and the first half of 2026.
- Board re-authorized a stock repurchase plan for up to 1,000,000 additional shares.
- Executive Chairman Carissa Rodeheaver retired after 34 years with the company.