Consolidated Statements of Financial Condition - USD ($) $ in Thousands	Sep. 30, 2025	Dec. 31, 2024
Assets
Cash and due from banks	$ 92,268	$ 77,020
Interest bearing deposits in banks	2,907	1,307
Cash and cash equivalents	95,175	78,327
Investment securities - available for sale (at fair value)	105,060	94,494
Investment securities - held to maturity, net of allowance for credit losses of $102 at September 30, 2025 and $59 at December 31, 2024 (fair value $149,130 at September 30, 2025 and $144,760 at December 31, 2024)	172,818	175,497
Equity investments not held for trading with readily determinable fair values	1,020
Restricted investment in bank stock, at cost	4,628	5,768
Loans held for sale	861	806
Loans	1,496,762	1,480,793
Unearned fees	(473)	(442)
Allowance for credit losses	(19,089)	(18,170)
Net loans	1,477,200	1,462,181
Premises and equipment, net	30,369	30,081
Goodwill and other intangibles	11,526	11,773
Bank owned life insurance	49,997	48,952
Deferred tax assets	8,228	9,989
Other real estate owned, net	2,718	3,062
Repossessed assets	3,043	2,802
Right of use assets	984	1,204
Pension asset	21,382	17,824
Accrued interest receivable	7,479	7,473
Other assets	31,486	22,789
Total Assets	2,023,974	1,973,022
Liabilities:
Non-interest bearing deposits	429,986	426,737
Interest bearing deposits	1,248,916	1,148,092
Total deposits	1,678,902	1,574,829
Short-term borrowings	20,207	65,409
Long-term borrowings	95,929	120,929
Operating lease liability	1,152	1,384
SERP deferred compensation	8,530	8,335
Allowance for credit losses on off-balance sheet credit exposures	981	863
Accrued interest payable	661	489
Other liabilities	16,824	20,065
Dividends payable	1,689	1,424
Total Liabilities	1,824,875	1,793,727
Shareholders' Equity:
Common Stock - par value $0.01 per share; Authorized 25,000,000 shares; issued and outstanding 6,496,908 shares at September 30, 2025 and 6,471,096 at December 31, 2024	65	65
Surplus	21,290	20,476
Retained earnings	203,197	189,002
Accumulated other comprehensive loss, net of tax	(25,453)	(30,248)
Total Shareholders' Equity	199,099	179,295
Total Liabilities and Shareholders' Equity	$ 2,023,974	$ 1,973,022

FIRST UNITED CORP/MD/ 10-Q