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First United (FUNC) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 3, 2026 · First United (FUNC) Q3 2026 earnings results →
Q3 2026 Revenue up 11% year over year to $25.2M · 28¢ of every $1 of revenue kept as net profit · operating margin 37.6%
First United made $25.2M in Q3 2026 (+11% Y/Y): Net interest income $19.6M, Noninterest income $5.6M. Operating margin 37.6%, net earnings $7.2M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 3, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $25.2M in Q3 2026, up 11% year over year and up 5% from the previous quarter. Net interest income was the largest line at 78% of revenue. Net interest income added $2.2M year over year (up 13%), 89% of the total change.
Operating profit was $9.5M, a 37.6% margin (down 3.1 points year over year). Of the extra revenue versus a year earlier, 9% reached operating profit, below the 41% margin then. Total costs grew 17% against revenue growth of 11%. The fastest-growing cost line was Credit loss provision (+278%). Net earnings were $7.2M, up 3% year over year. The effective tax rate was 24.2%.
Operating cash flow was $4.8M (up 217% year over year), 67% of net earnings. Working capital and other items used $2.4M. Capital expenditures of $240K left free cash flow of $4.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 3, 2026 | $25.2M | +11% | 37.6% | $7.2M | $4.8M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About First United
First United Corporation is a Maryland corporation chartered in 1985 and a bank holding company registered with the Board of Governors of the Federal Reserve System (the “FRB”) under the Bank Holding Company Act of 1956, as amended, that elected financial holding company status in 2021. The Corporation’s primary business is serving as the parent company of First United Bank & Trust, a Maryland trust company (the “Bank”), First United Statutory Trust I (“Trust I”) and First United Statutory Trust II (“Trust II” and together with Trust I, the “Trusts”), both Connecticut statutory business trusts. The Trusts were formed for the purpose of selling trust preferred securities that qualified as Tier 1 capital.
In its own words, from its 10-K, filed Mar 10, 2026.
First United against its National Commercial Banks peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +8%. Operating margin: 37.6% against the peers' median 32.5%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| FUNC First United | Q3 2026 | $25.2M | +11% | 37.6% |
| JPM JPMorgan Chase | Q3 2026 | $50.2B | +8% | 40.1% |
| BAC Bank of America | Q3 2026 | $30.0B | +3% | 29.9% |
| C Citigroup | Q3 2026 | $23.8B | +8% | 30.6% |
| WFC Wells Fargo | Q3 2026 | $21.9B | +2% | 32.5% |
| COF Capital One Financial | Q3 2026 | $16.3B | +6% | 28.0% |
| USB US Bancorp | Q3 2026 | $8.0B | +9% | 35.1% |
| PNC PNC Financial Services Group | Q3 2026 | $6.6B | +11% | 40.0% |
| TFC Truist Financial | Q3 2026 | $3.7B | -28% | 23.9% |
Source: First United 10-Q on SEC EDGAR · CIK 763907 · National Commercial Banks
Guidance and outlook
13F: who owns FUNC and who is buying
More on FUNC
History
Every quarter: Q3 2026 results