First United Corporation Announces Second Quarter 2026 Financial Results

First United Corporation reported a consolidated net income of $5.7 million for the second quarter of 2026, or $0.87 per diluted share. This compares to $6.0 million, or $0.92 per diluted share, for the second quarter of 2025. For the first six months of 2026, net income was $12.3 million, or $1.90 per diluted share, compared to $11.8 million, or $1.81 per diluted share, for the same period in 2025. The company highlighted a stronger net interest margin and steady growth in its wealth management business. However, earnings were impacted by a one-time consulting expense of approximately $2.2 million related to technology and pricing initiatives. Loan growth was steady, with robust pipelines for the upcoming quarter. The net interest margin on a non-GAAP, FTE basis was 3.98% for Q2 2026. Operating expenses increased due to the aforementioned consulting fees. A cash dividend of $0.26 per share was declared for the second quarter. Total assets were $2.1 billion, with gross loans increasing by $50.4 million since December 31, 2025. The allowance for credit losses was $20.6 million at June 30, 2026.