Slide 1: MyBank.com Investor Presentation Second Quarter 2026
MyBank.com INVESTOR PRESENTATION Second Quarter 2026
Slide 2: Forward looking statements
Forward looking statements This presentation contains forward - looking statements as defined by the Private Securities Litigation Reform Act of 1995 . Forward - looking statements do not represent historical facts, but are statements about management's beliefs, plans and objectives about the future
Slide 3: Table of Contents
Table of Contents I. II. III. Corporate Overview Financial Performance Appendices Pg. 4 Pg. 10 Pg. 31
Slide 4: Our Mission and Corporate Overview
Our Mission To enrich the lives of our associates, customers, communities and shareholders through uncommon commitment to service and customized financial solutions. Corporate Overview Founded: 1900 Headquarters: Oakland, MD Locations: 23 branches Business Lines: ▪ Commercial & Retail Banking ▪ Trus
Slide 5: Core Markets
Note: Out of market loans representing $192 million and $25 million in brokered CDs are not reflected in this table (1) Source: FDIC Market Share Data, most current. Deposit market share for each region includes the following counties: West : Monongalia, WV Central: Garrett, MD; Allegany, MD; Minera
Slide 6: Core Strengths
6 Core Strengths ▪ Diversified revenue stream driven by trust and brokerage fee income supplements margin Diversified Revenue Stream ▪ Stable legacy markets produce steady low - cost funding ▪ Technology and business relationships drive growth Core Deposit Franchise ▪ Diverse and experienced Board w
Slide 7: Total Shareholder Return
Total Shareholder Return* *As of March 31, 2026 7 5 - Year 3 - Year 1 - Year % 199.8 % 241.9 % 46.2 First United % 48.2 % 96.9 % 29.5 S&P US Small Cap Banks % 58.5 % 69.0 % 41.1 2026 Proxy Peers
Slide 8: Risk Management, Monitoring & Mitigation
8 Risk Management, Monitoring & Mitigation Underlies all Strategic Priorities ▪ Low net charge - offs and strong asset quality resulting from conservative and proactive credit culture ▪ ACL level of 1.31%; future provisioning based on loan growth, economic environment and asset quality changes ▪ Div
Slide 9: Strategic Priorities
9 ??????? ▪ Explore opportunities and strategies to expand both net - interest income and non - interest income through non - traditional lines of business and digital product and service offerings ▪ Improve brand awareness and market share in growth markets. ▪ Foster customized relationship banking
Slide 10: Second Quarter Financial Highlights
10 $ 7.3 Million Net Income (1) $1.13 Diluted EPS (1) 1.44% * ROAA (1) 14.76 * ROATCE (1) 3.98% NIM Second Quarter Financial Highlights ▪ Total assets in creased $43.1 million compared to March 31, 2026 ▪ Consolidated net income (1) of $ 7.3 million in 2Q26 compared to $ 6.0 million in 2Q25 and $6.6
Slide 11: Year to Date Financial Highlights
11 $ 13.9 Million Net Income (1) $ 2.15 Diluted EPS (1) 1.36% * ROAA (1) 14.26 * ROATCE (1) 3.89% NIM Year to Date Financial Highlights ▪ Total assets decreased $ 5.4 million compared to Dec ember 31, 2025 ▪ Consolidated net income (1) of $ 13.9 million in 2026 compared to $ 11.8 million in 2025; pr
Slide 12: Long-Term Growth
Long - Term Growth Pre - Provision Net Revenue ($ in millions) (1) $32.5 $25.9 $30.7 $37.0 $20.6 2022 2023 2024 2025 2Q2026 (1) See Appendix for a reconciliation of these non - GAAP financial measures $3.76 $2.80 $3.21 $3.99 $2.15 2022 2023 2024 2025 2Q2026 Diluted Earnings per Share (1) Total Depos
Slide 13: Solid Profitability
Solid Profitability (1) See Appendix for a reconciliation of these non - GAAP financial measures Long - term Strategic Target 13% - 15% Long - term Strategic Target 1.25% - 1.60% Core ROAA (non - GAAP (1) ) Core ROATCE (non - GAAP (1) ) 1.39% 0.97% 1.08% 1.28% 1.36% 2022 2023 2024 2025 2Q2026 19.94%
Slide 14: Loan Diversification
Total 1 - 4 Family 34% CRE - NOO 22% C&I 18% CRE - OO 14% C&D 6% Consumer 3% Multi - family 3% Loan Diversification Loan Portfolio Mix (6/30/2026) RE/Rental/Leasing NOO 24% RE/Rental/ Leasing OO, C&I 19% All Other 16% Accommodations 12% Services 5% RE/Rental/Leasing Multifamily 5% Trade 4% Construct
Slide 15: Commercial Industry Mix by Origination Year
Commercial Industry Mix by Origination Year Commercial Industry Mix by Origination Prior to 2000 2000 - 2005 2006 - 2010 2011 - 2015 2016 - 2020 2021 - Current Total RE / Rental / Leasing - NOO - 140,098 95,931 5,693,349 58,527,601 187,463,928 251,920,907$ RE / Rental / Leasing - OO, C&I - 1,474 348
Slide 16: Commercial Real Estate
Commercial Real Estate Focus on risk mitigation and managing of concentrations ▪ CRE / Total Capital: 248% ▪ ADC / Total Capital: 41% * There are no office buildings located in metropolitan markets or over four stories. ** There are no major/big box retail tenants. OFFICE* Geography Note Book Balanc
Slide 17: Variable Rate Loans and Repricing
Variable Rate Loans and Repricing * Includes personal lines of credit and home equity lines Loan Type Reprices Monthly % to Total Type Repricing Repricing 2026 % to Total Type Repricing Repricing 2027 % to Total Type Repricing Repricing 2028 + % to Total Type Repricing Grand Total Commercial Loans 6
Slide 18: Credit Quality
ALL / ACL Trends (Net Charge - Offs)/Average Loans Nonaccrual Loans / Total Loans NPAs / Total Assets 0.27% 0.28% 0.33% 0.28% 0.29% 2022 2023 2024 2025 2Q2026 0.46% 0.48% 0.59% 0.41% 0.37% 2022 2023 2024 2025 2Q2026 1.14% 1.24% 1.23% 1.28% 1.31% 2022 2023 2024 2025 2Q2026 --- - 0.06% - 0.07% - 0.16%
Slide 19: Investment Portfolio
19 Investment Portfolio Duration Book Yield Portfolio % Par (000s) Sector 5.44 2.30% 26% 73,388 Treasury/Agency 5.14 2.74 2.83% 5.04% 18% 2% 51,643 5,236 Fixed MBS Floating MBS 6.01 2.34% 26% 74,526 CMO 6.24 5.24% 6% 15,620 Municipal 0.65 5.43% 0% 1,000 Corporate 4.07 2.45% 22% 62,949 Other 5.22 2.6
Slide 20: Shocked Investment Portfolio Unrealized Gains / Losses Capital Impact
Shocked Investment Portfolio Unrealized Gains / Losses Capital Impact Up300 Up200 Up100 Base Case Dn100 Dn200 Dn300 Intent - 27,755 - 23,584 - 19,225 - 14,919 - 10,713 - 6,777 - 2,904 AFS - 48,083 - 40,650 - 32,783 - 23,987 - 16,286 - 7,743 929 HTM - 75,838 - 64,234 - 52,008 - 38,905 - 26,998 - 14,5
Slide 21: Deposit Composition
Deposits 21 32% 28% 27% 26% 25% 23% 23% 25% 23% 24% 36% 37% 39% 39% 42% 8% 10% 9% 9% 8% 0% 2% 0% 3% 1% 2022 2023 2024 2025 2Q2026 NIB Demand IB Demand MMA & Savings CDs - Retail CDs - Brokered $1.58 $1.57 $1.74 $1.57 $1.74 Deposit Composition ($ in billions as of 6/30/2026) 81% 91% 94 % 88% 91% Loan
Slide 22: Funding Mix and Brokered/FHLB Maturities
$25.0 July 2026 Dollars (in millions) Brokered CD 4.22% Funding 22 52% 45% 1% 2% Brokered Deposits Commercial Deposits Retail Deposits Borrowings Funding Mix Brokered/FHLB Maturities Brokered CD Brokered CD Fully repaid $25.0 million Brokered CD at maturity in January and $65.0 million in FHLB advan
Slide 23: Net Interest Margin
Net Interest Margin 23 (1) See Appendix for a reconciliation of these non - GAAP financial measures 3.85% 4.63% 5.17% 5.43% 5.45% 5.49% 0.44% 1.92% 2.51% 2.42% 2.22% 2.25% 3.56% 3.26% 3.38% 3.67% 3.83% 3.89% 0.21% 1.16% 1.68% 1.66% 1.53% 1.58% 0.1% 1.1% 2.1% 3.1% 4.1% 5.1% 2022 2023 2024 2025 1Q2026
Slide 24: Diversified Fee Income
Diversified Fee Income 24 (1) See Appendix for a reconciliation of these non - GAAP financial measures Composition 56% Trust and Brokerage 14% Service Charges 1% Net Gain on Loan Sales 19% Debit Card Income 9% Bank - owned Life Insurance 1% Other Noninterest Income Non - Interest Income Mix 2026 Tru
Slide 25: Liquidity Position
Liquidity Position 25 Net Availability ($ in thousands) Amount Used ($ in thousands) Amount Available ($ in thousands) Liquidity Sources (6/30/2026) Internal Sources $59,960 $59,960 Excess Cash $29,919 $29,919 Unpledged Securities (BV) External Sources $25,521 $50,000 $75,521 Federal Reserve (Discou
Slide 26: Interest Rate Risk
Interest Rate Risk 26 (1) Standard Model Assumptions Interest Rate Risk Sensitivity ▪ The Bank’s interest rate risk position is stress tested under three interest rate ramp scenarios to determine the impact on net interest income, net income and capital under dynamic and static balance sheet conditi
Slide 27: Capital Management
Capital Management 27 CET1 Ratio Leverage Ratio Tier 1 Ratio Total Risk - Based Capital Ratio Regulatory Well - Capitalized 10% 5% 8% 6.5% 15.06% 14.42% 14.70% 15.36% 15.26% 2022 2023 2024 2025 2Q2026 16.12% 15.64% 15.92% 16.61% 16.51% 2022 2023 2024 2025 2Q2026 11.46% 11.30% 11.88% 12.21% 12.70% 20
Slide 28: Capital Management: Tangible Book Value and TCE Ratio
Capital Management 28 Tangible Book Value / Share TCE Ratio $20.90 $22.56 $25.89 $29.57 $31.16 2022 2023 2024 2025 2Q2026 7.59% 7.91% 8.54% 9.26% 9.71% 2022 2023 2024 2025 2Q2026
Slide 29: Operational Efficiency
Operational Efficiency Key Drivers: ▪ ProfitStar forecasting model ▪ Automated loan booking ▪ Project management enhancements ▪ Evaluation of core banking technology ▪ Proactive contract negotiations ▪ Vendor consolidation (1) See Appendix for a reconciliation of these non - GAAP financial measures
Slide 30: Strategic Targets
Strategic Targets Long Term Strategic Target Range (*) Non - GAAP 12/31/2025 Actual 12/31/2025 Non - GAAP 12/31/2024 Actual 12/31/2024 Metric 8% - 12% 27% 20% 15% 41% EPS Growth (YoY) Strong Shareholder Return 20% - 25% 24% 24% 27.0% 27.0% Dividend Payout Ratio 1.25% - 1.45% 1.28% 1.21% 1.08% 1.06%
Slide 31: Strong Investor Relations & Shareholder Engagement
Strong Investor Relations & Shareholder Engagement Members of the Board and senior management routinely engage with shareholders and other stakeholders, and management regularly updates the Board in the context of ongoing investor discussions. These engagements help the Board and management gather f
Slide 32: Appendices
I. II. III. Management Team Board of Directors Non - GAAP Reconciliation Pg. 32 Pg. 33 Pg. 37 Appendices
Slide 33: Management Team
Tonya K. Sturm EVP & Chief Financial Officer, Corp. Secretary & Treasurer 35+ years of banking, audit, credit, retail, risk and compliance and financial and operational experience R.L. Fisher EVP & Chief Banking Officer 25+years with in - depth industry, retail, commercial and mortgage banking exper
Slide 34: Board of Directors
John F. Barr Independent Director Chairman of the Board, Ellsworth Electric, Inc. Sanu Chadha Independent Director Managing Partner, M&S Consulting Christy DiPietro Independent Director, Audit Chair Chartered Financial Analyst, Hidden Cove Advisory Patricia Milon Independent Director Principal, Milf
Slide 35: Thoughtful Evaluation and Evolution
Thoughtful Evaluation and Evolution Our Nominating and Governance Committee is responsible for determining directorship criteria, identifying and evaluating cand ida tes for the Board, and regularly assessing the Board’s governance practices. x 100% Independent Board Committees x Majority Voting Sta
Slide 36: Board of Directors Skills Matrix
36 Board of Directors The First United board of directors brings a diverse range of skills, experiences, and backgrounds to the work of overseeing ris k and strategy. With experience in fields such as banking, government, accounting, investing, project management, technology, and a range of local en
Slide 37: Continuous Progress
37 Continuous Progress We continue to advance our Governance profile over time, recognizing the importance of our key stakeholders – including our cust omers and our communities – to our business. Over the past few years, we have implemented several important enhancements to align our Governan ce pr
Slide 38: Non-GAAP financial measures
This presentation includes certain non - GAAP financial measures, including pre - provision net revenue, net income, earnings per share (basic and diluted), return on average assets, return on average tangible common equity, tangible common equity, tangible assets, the ratio of tangible common equit
Slide 39: Non-GAAP Reconciliation, continued
Non - GAAP Reconciliation , continued 39 ($000s, except where otherwise noted) YTD 2022 2023 2024 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 2Q2026 Weighted Average Common shares - basic (actual) (d) 6,649,740 6,685,676 6,527,077 6,489,581 6,474,368 6,489,245 6,496,122 6,498,587 6,482,525
Slide 40: Non-GAAP Reconciliation, continued
Non - GAAP Reconciliation , continued 40 ($000s, except where otherwise noted) YTD 2022 2023 2024 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 2Q2026 Return on Average Assets (quarter and YTD annualized) Average Assets ( c) 1,801,711$ 1,924,119$ 1,946,724$ 2,022,002$ 1,976,702$ 1,997,750$ 2,
Slide 41: Non-GAAP Reconciliation, continued
Non - GAAP Reconciliation , continued 41 ($000s, except where otherwise noted) YTD 2022 2023 2024 2025 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 2Q2026 Tangible Book Value per Common Share Total common equity, as reported (h) 151,793$ 161,873$ 179,295$ 203,634$ 183,694$ 191,147$ 199,099$ 203,6