First United Q2 FY26 net income falls 5.3% to $5.67 million after $2.18 million consulting charge
FUNC•Balance sheet and capital position
Total assets were $2.1 billion at June 30, 2026, with net loans of $1.6 billion and deposits of $1.7 billion; shareholders’ equity was $212.4 million.
Net interest income and margin improved
Net interest income rose to $18.59 million in the quarter from $16.71 million a year earlier; net interest margin widened 0.33 percentage points to 3.97%.
Provision for credit losses edged down to $800,000 in the quarter from $900,000; non-accrual loans increased to $4.51 million from $4.19 million at year-end.
Second-quarter net income pressured by consulting charge
First United posted GAAP net income of $12.33 million for the six months ended June 30, 2026, up 4.58% year over year.
Second-quarter GAAP net income fell $317,000 year over year to $5.67 million, pressured by a one-time .
