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First United Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary20 Oct, 2025
Executive summary
Net income for Q3 2025 was $6.9 million ($1.07 per share), up from $5.8 million ($0.89 per share) in Q3 2024; nine-month net income was $18.7 million ($2.88 per share), up from $14.4 million ($2.19) year-over-year.
Results were driven by increased net interest margin, higher loan yields, and expense control, with growth in both net interest and non-interest income.
Total assets reached $2.0 billion, net loans $1.5 billion, and deposits $1.7 billion as of September 30, 2025.
Annualized return on average assets was 1.24% and return on average equity was 13.23% for the nine months ended September 30, 2025.
Pre-provision net revenue reached $9.8 million in Q3 and $26.9 million for the first nine months, both higher than prior periods.
Financial highlights
Net interest income for Q3 2025 was $17.4 million, up from $15.2 million in Q3 2024; net interest margin (NIM) improved to 3.69% in Q3 2025, with year-to-date NIM at 3.64%.
Efficiency ratio improved to 56.97% in Q3 and 58.73% year-to-date, driven by higher net interest and non-interest income.
Provision for credit losses was $0.5 million in Q3 2025 and $2.0 million for the nine months, down from $2.4 million year-over-year.
Return on average assets (ROAA) was 1.35% in Q3 and 1.24% year-to-date; return on average tangible common equity (ROATCE) was 14.93% in Q3 and 14.09% year-to-date.
Asset quality remained strong with allowance for credit losses (ACL) to loans at 1.28% and nonaccrual loans at 0.26% of total loans.
Outlook and guidance
Strategic targets include long-term ROAA of 1.25%-1.45%, ROATCE of 13%-15%, NIM of 3.5%-3.8%, and efficiency ratio of 55%-60%.
Management expects continued strong credit quality and stable net interest margin, with ongoing focus on expanding commercial and consumer lending.
Focus remains on disciplined loan and deposit pricing, deposit acquisition, and cost control.
No material changes in risk factors or outlook since the last annual report.
The commercial loan pipeline remains strong, with $50.4 million in the pipeline as of September 30, 2025.
What drove unusual Q3 loan payoffs?
Brokered deposit strategy and funding cost impact
What was the impact of the C&I charge-off?
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Next First United earnings date
Q4 202513 Feb, 2026
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Next First United earnings date
Q4 202513 Feb, 2026
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Frequently asked questions
First United Corporation is a bank holding company that provides a range of financial products and services through its subsidiary, First United Bank & Trust. The company offers personal and commercial banking solutions, including checking and savings accounts, mortgages, personal and business loans, and credit services. It also provides wealth management services, such as investment management, trust services, and financial planning, aimed at meeting the diverse financial needs of its clients. First United Corporation serves individuals, small businesses, and commercial clients, primarily in Maryland and West Virginia. The company is headquartered in Oakland, Maryland, and its shares are listed on the NASDAQ.
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