First United (FUNC) Financial Statements & Analysis

First United (FUNC) Income Statement

First United reported revenue of $85.94M in fiscal 2025 (fiscal year ended Dec 31, 2025), up 7.7% from $79.79M a year earlier. Net income was $24.52M, up 19.2% year over year, a net margin of 28.5%. Gross margin was 97.4% and operating margin 37.9%. In the most recent quarter, Q3 fiscal 2026 (ended Sep 30, 2026), revenue was $23.29M, up 2.6% from the same quarter a year earlier.

First United Income Statement Analysis

Values in millions USD

Income Statement Balance Sheet Cash Flow Ratios

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First United Corporation income statement - Annual data in millions USD
Breakdown	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020	FY 2019	FY 2018	FY 2017
Period ending	Dec 2025	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020	Dec 2019	Dec 2018	Dec 2017
Revenue & Gross Profit
Revenue	85.94	79.79	71.32	80.44	72.73	61.72	74.71	67.54	61.29
Cost of Revenue	35.48	34.93	25.86	4.16	4.90	15.06	12.85	10.22	9.91
Gross Profit	83.70	76.87	69.75	76.28	73.72	61.86	61.86	57.31	51.38
Operating Expenses
Research & Development	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Selling, General & Administrative	16.74	30.78	30.43	26.41	16.09	23.13	25.46	25.34	23.41
Operating Expenses	51.17	49.64	50.27	43.10	47.41	44.07	45.39	43.88	39.17
Operating Income	32.53	27.23	19.48	33.18	26.31	17.79	16.47	13.43	12.21
Other Income/Expense
Interest Income	100.85	91.99	81.16	62.42	58.26	58.20	57.92	52.29	46.95
Interest Expense	32.74	32.02	24.29	4.79	5.71	9.66	11.53	8.11	7.37
Other Income/Expense	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00	0.00
Income
Income Before Tax	32.53	27.23	19.48	33.18	26.31	17.79	16.47	13.43	12.21
Income Tax Expense	8.02	6.66	4.42	8.13	6.54	3.95	3.34	2.76	6.95
Net Income	24.52	20.57	15.06	25.05	19.77	13.84	13.13	10.67	5.27
Net Income - Continuous Operations	24.52	20.57	15.06	25.05	19.77	13.84	13.13	10.67	5.27
Net Income - Discontinued Operations	-	-	-	-	-	-	-	-	-
EBITDA	2.87	31.02	4.13	36.83	3.27	21.34	19.86	15.87	14.11
EBIT	-	-	-	-	-	-	-	-	-
Depreciation & Amortization	3.06	3.79	4.92	3.65	3.43	3.55	3.39	2.44	1.90
Earnings Per Share
Basic EPS	4.00	3.00	2.00	4.00	3.00	2.00	2.00	2.00	1.00
Diluted EPS	4.00	3.00	2.00	4.00	4.00	2.00	2.00	2.00	1.00
Basic Shares Outstanding	6.49	6.53	6.65	6.65	6.71	7.00	7.10	7.08	6.93
Diluted Shares Outstanding	6.50	6.54	6.66	6.66	6.72	7.01	7.10	7.08	6.93

Source: Company financial statements from annual and quarterly filings. Data as of Sep 30, 2026. Data sources and methodology

Frequently Asked Questions About First United Financial Statements

What was First United's revenue in fiscal 2025?

First United reported revenue of $85.94M in fiscal 2025 (fiscal year ended Dec 31, 2025). That was up 7.7% from $79.79M a year earlier.

Is First United profitable?

Yes. First United earned net income of $24.52M in fiscal 2025, a net margin of 28.5%. In fiscal 2024 it earned $20.57M.

What is First United's operating margin?

First United's operating income was $32.53M on revenue of $85.94M in fiscal 2025, an operating margin of 37.9%, compared with 34.1% a year earlier.

What is net profit margin?

Net profit margin is net income divided by revenue. It shows how much of each dollar of sales a company keeps as profit after all costs, interest and taxes. Full definition