马里兰第一联合 2026年季度报告

FORM10-Q For quarterly period ended June 30, 2026 (Exact name of registrant as specified in its charter) Securities registered pursuant to Section12(b)of the Act: Indicate by check mark whether the registrant (1)has filed all reports required to be filed bySection13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12months (or for suchshorter periods that the registrant was required to file such reports), and (2)has been subject to such filingrequirements for the past 90days. Yes☑No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive DataFile required to be submitted pursuant to Rule405 of Regulation S-T (§232.405 of this chapter) during thepreceding 12months (or for such shorter period that the registrant was required to submit such files).Yes☑No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, anon-accelerated filer, a smaller reporting company, or an emerging growth company. See definition of“large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growthcompany” in Rule12b-2 of the Exchange Act. (Check one): Accelerated Filer☑Smaller Reporting Company☑ Large Accelerated filer◻Non-Accelerated filer◻Emerging Growth Company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use theextended transition period for complying with any new or revised financial accounting standard providedpursuant to Section13(a)of the Exchange Act.◻ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of theExchange Act). Yes☐No☑ Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as ofthe latest practicable date:6,453,836shares of common stock, par value $0.01 per share, as of July 31,2026. INDEX TO QUARTERLY REPORTFIRST UNITED CORPORATION PagePARTI. FINANCIAL INFORMATION3Item1.Financial Statements June 30, 2026 (unaudited); December 31, 2025 (audited)3Consolidated Statements of Financial Condition–June 30, 2026 and December 31, 20253Consolidated Statements of Operations– for the six andthreemonths ended June 30, 2026 and20254Consolidated Statements of Comprehensive Income– for the six and three months ended June30, 2026 and 20256Consolidated Statements of Changes in Shareholders’ Equity– for the six and three monthsended June 30, 2026 and 20258Consolidated Statements of Cash Flows– for the sixmonths ended June 30, 2026 and 20259Notesto Consolidated Financial Statements10Item2.Management’s Discussion and Analysis of Financial Condition and Results of Operations47Item3.Quantitative and Qualitative Disclosures about Market Risk67Item4.Controls and Procedures67PARTII. OTHER INFORMATION68Item1.Legal Proceedings68Item1A.Risk Factors68Item2.Unregistered Sales of Equity Securities and Use of Proceeds68Item3.Defaults upon Senior Securities68Item4.Mine Safety Disclosures68Item5.Other Information68Item6.Exhibits69SIGNATURES70 First United Corporation and SubsidiariesConsolidated Statements of Financial Condition(In thousands, except share data) First United Corporation and SubsidiariesConsolidated Statements of Operations(In thousands, except per share data) First United Corporation and SubsidiariesConsolidated Statements of Comprehensive Income(In thousands) First United Corporation and SubsidiariesConsolidated Statements of Comprehensive Income(In thousands) Three Months EndedJune30, First United Corporation and SubsidiariesConsolidated Statements of Changes in Shareholders’ Equity(In thousands, except per share data, unaudited) First United Corporation and SubsidiariesConsolidated Statements of Cash Flows(In thousands) FIRST UNITED CORPORATIONNOTESTO CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED) Note1– Basis of Presentation The financial information is presented in accordance with generally accepted accounting principles andgeneral practice for financial institutions in the United States of America (“GAAP”).First United Corporation hasprepared these unaudited condensed consolidated financial statements in accordance with GAAP for interimfinancial information, rules of the Securities and Exchange Commission that permit reduced disclosure for interimperiods, and Article 8 of Regulation S-X.Operating results for the six- and three-month periods ended June 30,2026 are not necessarily indicative of the results that may be expected for the fullyear or for any future interimperiod. These consolidated financial statements should be read in conjunction with the audited consolidatedfinancial statements and notes thereto included in First United Corporation’s Annual Report on Form10-K fortheyear ended December 31, 2025. In preparing the financial statements, management is required to make estimates and assumptions thataffect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities as of the date offinancial statements.In addi