Overview
First United Q2 net income rises to $6.0 mln, driven by increased loan yields
Net interest margin improves to 3.65%, partly helped by stable funding costs
The bank holding company's Q2 pre-tax profit rises to $7.96 mln from $6.52 mln year ago
Outlook
First United expects stronger growth in second half of 2025 due to strong loan pipelines
Company optimistic about Morgantown market growth potential
First United plans to focus on tech to improve efficiencies
Result Drivers
NET INTEREST MARGIN - Driven by increased loan yields and stable funding costs, per CEO Carissa Rodeheaver
LOAN PRODUCTION - Strong commercial and residential mortgage loan originations totaling $84.3 mln
TEAM EXPANSION - Morgantown team expansion seen as growth potential, per CEO Carissa Rodeheaver
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 EPS | $0.92 | ||
Q2 Net Income | $6 mln | ||
Q2 Net Interest Income | $16.71 mln | ||
Q2 Pretax Profit | Beat | $7.96 mln | $7.19 mln (1 Analyst) |
Q2 Basic EPS | $0.92 | ||
Q2 Net Interest Margin | 3.6% | ||
Q2 Provision for Credit Loan Losses | $860,000 |
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the banks peer group is "buy"
Wall Street's median 12-month price target for First United Corp is $42.00, about 17.1% above its July 18 closing price of $34.83
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 8 three months ago
Press Release: ID:nPnpD8Y7a
(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)