First United Q3 net income rises on loan, margin growth

First United

19/10/2026 21:26

Overview
US bank holding company reported Q3 net income and EPS up yr/yr on loan and margin growth
Company's net interest margin improved to 3.93% from 3.63% a year earlier

Outlook
First United says loan pipelines remain robust heading into Q4 2026
Company cites continued inflationary pressures and interest rate uncertainty as reasons for disciplined reserves
First United remains focused on expense management and improving efficiency

Result Drivers
LOAN GROWTH - Co said increased loan balances and robust commercial and residential mortgage production drove higher net interest income
MARGIN IMPROVEMENT - Net interest margin rose due to increased loan yields and reduced funding costs, per CEO Jason Rush
WEALTH MANAGEMENT INCOME - Co said growth in trust and brokerage income contributed to higher non-interest income

Company press release: ID:nPn7pxb5ta

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 EPS
 
$1.11
 
Q3 Net Income
 
$7.2 mln
 
Q3 Net Interest Income
 
$19.6 mln
 
Q3 Pretax Profit
Miss
$9.5 mln
$9.62 mln (2 Analysts)
Q3 Basic EPS
 
$1.11
 
Q3 Net Interest Margin
 
3.93%
 

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 2 "strong buy" or "buy", no "hold" and no "sell" or "strong sell"
The average consensus recommendation for the banks peer group is "hold."
Wall Street's median 12-month price target for First United Corp is $47.25, about 6.8% above its October 16 closing price of $44.24
The stock recently traded at 10 times the next 12-month earnings vs. a P/E of 10 three months ago

Reuters Recommended Reads
Oct 19 - ServisFirst Bancshares Q3 profit jumps on loan growth, wider interest margin 
Oct 19 - Peoples Bancorp of North Carolina Q3 net earnings rise on loan growth
Oct 19 - Fifth Third Bancorp Q3 net interest income jumps on Comerica acquisition

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(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.)