First United reports Q3 EPS $1.07 vs. 89c last year

Q3 net interest margin, on a non-GAAP, fully tax equivalent basis, was 3.69%, reflecting increased loan yields and stable funding costs. Diluted Tangible book value per share was $28.82 at quarter end from $27.59 last quarter. CEO Carissa Rodeheaver stated, “We are pleased to report another strong quarter, once again driven by increased net interest margin and expense control. Our commercial, mortgage and wealth relationship managers continue to deliver strong production, and our entire team remains focused on controlling expenses. The strong income allowed us to increase our dividend this quarter. “