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First United FUNC Wealth Management — Equipment Expense

Other segment segments

Community Banking
$1.22M-1.8%

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$2.63M+14.9%
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$12K+20.0%
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WASHWealth Management Services — Equipment
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HWBKWealth Management — Occupancy, furniture and equipment expense
$21K+40.0%

Other financials

Income statement

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Revenue$23.4M+11.9%
Net income$6.7M+14.8%
EPS (diluted)$1.03+15.7%

Balance sheet

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Cash & equivalents$89.8M+6.4%
Total debt$51.6M-63.8%
Total equity$205.3M+11.7%
Total assets$2.0B+3.0%

Cash flow

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Operating cash flow$13.9M+99.8%
CapEx$908.0K+55.2%
Free cash flow$13.0M+104%

Valuation

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Market cap$284.36M+49.5%
Enterprise value$246.13M-13.0%
P/E11.2×+3.2×
P/S3.1×+0.8×

Profitability

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Net margin27.8%+0.2pp
FCF margin24.2%-4.1pp

Returns & leverage

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Return on equity13%+0.1pp
Debt / equity0.3×-0.5×

Where this comes from

Reported directly by First United in its filing.

Tagged under the XBRL concept us-gaap:EquipmentExpense.

The official record: First United’s 10-Q, filed May 8, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is First United's wealth management — equipment expense?
First United (FUNC) reported wealth management — equipment expense of $26K in Q1 2026.
How has First United's wealth management — equipment expense changed year-over-year?
First United's wealth management — equipment expense increased by 4.0% year-over-year, from $25K to $26K.
What is the long-term trend for First United's wealth management — equipment expense?
Over 2 years (2023 to 2025), First United's wealth management — equipment expense has grown at a -10.7% compound annual growth rate (CAGR), from $119K to $95K.
What does wealth management — equipment expense mean?
Reflects the costs associated with the maintenance, leasing, and depreciation of physical equipment used specifically by the wealth management division. This metric helps evaluate the operational overhead required to support the physical infrastructure of the segment.