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FUNC
FIRST UNITED CORP/MD/
45.84
−0.18 −0.39%
USD · close Oct 30
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Work order
57
WATCH · shorts 57
Insiders, 90 days
0
no open-market filings in 90 days
Congress, 90 days
0 / 0
no disclosures naming it
Big money
0 / 15
none of the tracked funds disclose it
Calls on record
0
nobody we score has called it yet
MKT CAP $295.8MP/E 11.8DIV YIELD 2.27%FCF YIELD 8.78%REV TTM —NET INCOME $25.1M +5.5%NET CASH $54.3M52W 34.53 – 46.18SEC XBRL · TTM TO Invalid Date
How FUNC rewrote its risk factors
Text kept
91%
of sentences unchanged
Added
14
new sentences
Dropped
9
sentences removed
Length
+269
words, now 10,601
New in FY2025
- Increases in interest rates and/or weakening economic conditions could adversely impact the ability of borrowers to repay outstanding loans or the value of the collateral securing these loans. Our success depends, to a certain extent, upon local, national and global economic and political conditions, as well as governmental monetary policies.
- Our financial performance generally, and in particular the ability of borrowers to pay interest on and repay principal of outstanding loans and the value of collateral securing the loans, as well as demand for loans and other products and services we offer, is highly dependent upon the business environment in the markets where we operate and the United States as a whole.
- A favorable business environment is generally characterized by, among other factors, economic growth, efficient capital markets, low inflation, low unemployment, high business and investor confidence, and strong business earnings.
- Unfavorable or uncertain economic and market conditions can be caused by a decline in economic growth both in the United States and internationally, declines in business activity or investor or business confidence, limitations on the availability of or increases to the cost of credit and capital, increases in inflation or interest rates, high unemployment, natural disasters, trade policies and tariffs, or a combination of these factors.
- Current economic conditions are being heavily impacted by recent inflationary conditions and higher interest rates, the effects of which may impact our profitability by negatively impacting our fixed costs and expenses.
- Economic and inflationary pressure on consumers and uncertainty regarding economic improvement could result in changes in consumer and business spending, borrowing, and savings habits.
- Such conditions could have a material adverse effect on the credit quality of our loans and our business, financial condition, and results of operations. A substantial portion of the Corporation’s loan portfolio is comprised of residential and commercial real estate loans.
- At December 31, 2025, our commercial real estate concentrations were below the heightened risk management thresholds set forth in this guidance. The Bank may experience loan losses in excess of its allowance for credit losses, which would reduce our earnings. The risk of credit losses on loans varies with, among other things, general economic conditions, the type of loans being made, the creditworthiness of the borrowers over the term of the loans and, in the case of collateralized loans, the value and marketability of the collateral for the loans.
- The remediation costs and any other financial liabilities associated with an environmental hazard could have a material adverse effect on our financial condition and results of operations. Our investment securities are subject to market risk and credit risk that may have an adverse impact on our financial condition and results of operation. At December 31, 2025, investment securities in our investment portfolio having a cost basis of $123.9 million and a market value of $107.1 million were classified as available-for-sale pursuant to FASB Accounting Standards Codification (“ASC”) Topic 320, Investments – Debt and Equity Securities , relating to accounting for investments.
- We measure expected credit losses on our investment portfolio through our current expected credit loss (“CECL”) estimate.
- At December 31, 2025, we had recorded goodwill and other intangible assets of $11.4 million, representing approximately 5.6% of shareholders’ equity. At December 31, 2025, our net deferred tax assets were valued at $8.7 million.
- Included in that total is $2.6 million of state net operating loss carryforwards (“NOLs”) associated with separate company tax filings of the Corporation, which we do not expect to use and, thus, we have established a $2.6 million valuation allowance.
- While we strive to ensure that all of our marketing communications comply with the requirements set forth in the CAN-SPAM Act, any violations could result in the FTC seeking civil penalties against us. Moreover, we are considered a “user” of consumer reports provided by consumer reporting agencies under the Fair Credit Reporting Act (“FCRA”), as amended by the Fair and Accurate Credit Transactions Act.
- We may not be able to effectively implement new technology driven products and services or be successful in marketing these products and services to our customers. In addition, our implementation of certain new technologies, such as those related to artificial intelligence, automation and algorithms, in our business processes may have unintended consequences due to their limitations or our failure to use them effectively.
Gone since FY2024
- Increases in interest rates and/or weakening economic conditions could adversely impact the ability of borrowers to repay outstanding loans or the value of the collateral securing these loans. A substantial portion of the Corporation’s loan portfolio is comprised of residential and commercial real estate loans.
- At December 31, 2024, our commercial real estate concentrations were below the heightened risk management thresholds set forth in this guidance. The Bank may experience loan losses in excess of its allowance for credit losses, which would reduce our earnings. The risk of credit losses on loans varies with, among other things, general economic conditions, the type of loans being made, the creditworthiness of the borrowers over the term of the loans and, in the case of collateralized loans, the value and marketability of the collateral for the loans.
- The remediation costs and any other financial liabilities associated with an environmental hazard could have a material adverse effect on our financial condition and results of operations. Our investment securities are subject to market risk and credit risk that may have an adverse impact on our financial condition and results of operation. At December 31, 2024, investment securities in our investment portfolio having a cost basis of $116.1 million and a market value of $94.5 million were classified as available-for-sale pursuant to FASB Accounting Standards Codification (“ASC”) Topic 320, Investments – Debt and Equity Securities , relating to accounting for investments.
- We measure expected credit losses on our investment portfolio through our CECL estimate.
- At December 31, 2024, we had recorded goodwill and other intangible assets of $11.8 million, representing approximately 6.6% of shareholders’ equity. At December 31, 2024, our net deferred tax assets were valued at $10.0 million.
- Included in that total is $2.4 million of state net operating loss carryforwards (“NOLs”) associated with separate company tax filings of the Corporation, which we do not expect to use and, thus, we have established a $2.6 million valuation allowance.
- While we strive to ensure that all of our marketing communications comply with the requirements set forth in the CAN-SPAM Act, any violations could result in the FTC seeking civil penalties against us. Moreover, we are considered a “user” of consumer reports provided by consumer reporting agencies under the FCRA, as amended by the Fair and Accurate Credit Transactions Act.
- We may not be able to effectively implement new technology driven products and services or be successful in marketing these products and services to our customers.
- In addition, our implementation of certain new technologies, such as those related to artificial intelligence, automation and algorithms, in our business processes may have unintended consequences due to their limitations or our failure to use them effectively.
Sentence-level comparison of Item 1A in the two most recent 10-Ks (FY2024 ↗, FY2025 ↗). A reworded sentence counts as one dropped and one added, so heavy edits read as low “kept”. Headings and page furniture are stripped; nothing is summarised by a model.