FUNC - First United Non-GAAP EPS of $0.86 revenue of $17.72M

First United press release (NASDAQ:FUNC): Q1 Non-GAAP EPS of $0.86. Revenue of $17.72M (+6.9% Y/Y). The ratio of the allowance for loan losses to loans outstanding was 1.29% at March 31, 2022 as compared to 1.38% at December 31, 2021 Total provision expense credit of $0.4M for the first quarter of 2022 as compared to expense of $0.1M for the first quarter of 2021. Net interest margin, on a non-GAAP, fully tax equivalent ("FTE") basis, was 3.40% for the first quarter of 2022 compared to 3.11% for the first quarter of 2021 and 3.49% for the fourth quarter of 2021. Total deposits at March 31, 2022 increased by $38.2 million when compared to deposits at December 31, 2021. Book value per share of the Company's common stock was $20.65 at March 31, 2022, compared to $21.43 per share at December 31, 2021.

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First United Non-GAAP EPS of $0.86, revenue of $17.72M