FKnol.com

Financial Knowledge & Information Portal

First United (FUNC) Company Profile

Updated Oct 8, 2019
First United has the following business profile:
Company's Full Name:First United Corporation
Short Name:First United
Trading Ticker Symbol:FUNC
Primary Exchange:NASDAQ
Headquarter City/Country:Maryland, MD
Primary Industry Sector:Finance
Seconday Sub-sector:Major Banks
Main Business Areas: Finance, Major Banks, Financial Services, Regional US Banks, Bank
Dividend Payments:Dividend History

Market and Trading Information for First United

The following details were available for trading and market data about the stock of First United as of writing:
Current Share Price:$20.11
Previous Year's Closing Price:$15.92
Percentage Price Change (YTD):26.32%
Market Cap:$145.61 million
52-week Price Range:$14.75 - $21.88
Dividend Per Share:$0.36
EPS (TTM):1.54
Price-Earnings (Trailing):13.08
Price-Earnings (Forward):0

Company Profile and Business Description for First United

First United Corporation, incorporated on October 18, 1984, is a bank holding company. The Company's primary business is serving as the parent company of First United Bank & Trust (the Bank), First United Statutory Trust I (Trust I), First United Statutory Trust II (Trust II) and First United Statutory Trust III (Trust III and together with Trust I and Trust II, the Trusts). It operates through community banking segment. The Bank's subsidiaries include OakFirst Loan Center, Inc., OakFirst Loan Center, LLC and First OREO Trust. The Bank also owns approximately 99.9% of the limited partnership interests in Liberty Mews Limited Partnership. It has total assets of approximately $1.3 billion, net loans of approximately $867.1 million, and deposits of approximately $998.8 million.

The Bank operates approximately 25 banking offices, one call center and 26 Automated Teller Machines (ATMs) in Allegany County, Frederick County, Garrett County, and Washington County in Maryland, and in Mineral County, Berkeley County and Monongalia County in West Virginia. The Bank is an independent community bank providing a range of retail and commercial banking services to businesses and individuals in its market areas. The Bank offers a range of services, such as checking, savings, money market deposit accounts, certificates of deposit, business loans, personal loans, mortgage loans, lines of credit, and consumer-oriented retirement accounts, including individual retirement accounts (IRAs) and employee benefit accounts. In addition, the Bank provides brokerage services through a networking arrangement with Cetera Investment Services, LLC., a broker dealer. The Bank also provides safe deposit and night depository facilities, insurance products and trust services. In addition, the Bank's Trust Department offers a range of trust services, including personal trust, investment agency accounts, charitable trusts, retirement accounts including IRA roll-overs, 401(k) accounts and defined benefit plans, estate administration and estate planning. The total market value of assets under the supervision of the Bank's Trust Department is approximately $718 million.

Lending Activities

The Company's lending activities are conducted through the Bank. The Bank's commercial loans are primarily secured by real estate, commercial equipment, vehicles or other assets of the borrower. Its commercial real estate (CRE) loans are primarily those secured by land for residential and commercial development, agricultural purpose properties, service industry buildings, such as restaurants and motels, retail buildings and general purpose business space. The Bank's residential mortgage portfolio is distributed between variable and fixed rate loans. Home equity lines of credit, included within the residential mortgage portfolio, are secured by the borrower's home and can be drawn on at the discretion of the borrower. These lines of credit are at variable interest rates. The Bank also provides residential real estate construction loans to builders and individuals for single family dwellings. A range of other consumer loans are also offered to customers, including indirect and direct auto loans, and other secured and unsecured lines of credit and term loans. It includes approximately $280.5 million of commercial real estate loans, $111.0 million of acquisition and development loans, $73.9 million of commercial and industrial loans, $388.7 million of residential mortgage loans and $24.9 million of consumer loans.

Investment Activities

The Bank's investment portfolio consists of the United States treasuries, the United States Government agencies, Residential mortgage-backed agencies, Commercial mortgage-backed agencies, Collateralized mortgage obligations, Obligations of states and political subdivisions, and Collateralized debt obligations. The Bank's available-for-sale securities has a total fair value of approximately $170.2 million. Its securities held to maturity has a total fair value of approximately $106.7 million.

Sources of Funds

The Bank offers an array of deposit products, including checking, savings and money market accounts, regular and IRA certificates of deposit, Christmas Savings accounts, College Savings accounts, and Health Savings accounts. The Bank also offers the Certificate of Deposit Account Registry Service (CDARS), program to municipalities, businesses, and consumers through which the Bank provides access to multi-million-dollar certificates of deposit that are Federal Deposit Insurance Corporation (FDIC)-insured. The Bank also offers Insured Cash Sweep (ICS), program to municipalities, businesses, and consumers through which the Bank provides access to multi-million-dollar savings and demand deposits that are FDIC-insured. In addition, it offers commercial customers packages, which include Treasury Management, Cash Sweep and various checking opportunities. The Bank has approximately $204.6 million of demand deposits, $176.0 million of demand deposits, $222.8 million of market account and $140.8 million of savings deposits.

19 S 2nd St

Peer / Competitor Companies of Major Banks Sector

Along with First United Corporation, the following other peer (competitor) companies also exist within the same Major Banks - Finance sector whose company profile and dividend history is as follows:

▶ 1st Source (SRCE): 1st Source Corporation operates as the holding company for 1st Source Bank that provides commercial and consumer banking services, trust and investment management services, and insurance to individual....See Detailed Company Profile  and Dividend History.

▶ ACNB (ACNB): ACNB Corporation, incorporated on November 9, 1982, is a financial holding company. The Companys banking operations are conducted through its operating subsidiary, ACNB Bank (the Bank), and offers a range ....See Detailed Company Profile  and Dividend History.

▶ Allegiance Bancshares (ABTX): Allegiance Bancshares, Inc., incorporated on April 30, 2008, is a bank holding company. Through its subsidiary, Allegiance Bank (the Bank), the Company provides a range of commercial banking services primarily ....See Detailed Company Profile  and Dividend History.

▶ American National Bankshares (AMNB): American National Bankshares Inc. operates as the bank holding company for American National Bank and Trust Company that provides financial products and services. The company operates through two segm....See Detailed Company Profile  and Dividend History.

▶ American River Bankshares (AMRB): American River Bankshares operates as the holding company for American River Bank that provides commercial banking products and services to small and middle-market businesses, and individuals in Calif....See Detailed Company Profile  and Dividend History.

▶ Ameris Bancorp (ABCB): Ameris Bancorp operates as the holding company for Ameris Bank that provides banking services to retail and commercial customers primarily in Georgia, Alabama, Florida, and South Carolina. The company....See Detailed Company Profile  and Dividend History.

▶ AmeriServ Financial (ASRV): AmeriServ Financial Inc. operates as the bank holding company for AmeriServ Financial Bank that provides various consumer, mortgage, and commercial financial products. It offers retail banking service....See Detailed Company Profile  and Dividend History.

▶ AmeriServ Financial (ASRVP): ....See Detailed Company Profile  and Dividend History.

▶ Ames National (ATLO): Ames National Corporation, incorporated on January 15, 1975, is a bank holding company. The Company operates through banking segment. The Company owns five banking subsidiaries consisting of two national banks ....See Detailed Company Profile  and Dividend History.

▶ ANZ Bank ADR (ANZBY): Australia and New Zealand Banking Group Limited provides various banking and financial products and services. The company's Australia division offers retail products and services to consumers through the branch....See Detailed Company Profile  and Dividend History.

▶ Arrow Financial (AROW): Arrow Financial Corporation (Arrow), incorporated on March 21, 1983, is a bank holding company. The Companys banking subsidiaries are Glens Falls National Bank and Trust Company (Glens Falls National) and ....See Detailed Company Profile  and Dividend History.

▶ Associated Banc-Corp (ASB): Associated Banc-Corp, incorporated on October 20, 1964, is a bank holding company. The Company, through its banking subsidiary Associated Bank, National Association (the Bank) and various nonbanking subsidiaries, provides a ....See Detailed Company Profile  and Dividend History.

▶ Atlantic Capital Bancshares (ACBI): Atlantic Capital Bancshares, Inc. operates as the holding company for Atlantic Capital Bank, N.A. that provides commercial banking products and services in the United States. The company offers NOW, m....See Detailed Company Profile  and Dividend History.

▶ Auburn National Bancorporation (AUBN): Auburn National Bancorporation, Inc., incorporated on April 12, 1990, is a bank holding company. The Company operates through its subsidiary AuburnBank (the Bank), which is a commercial bank located in ....See Detailed Company Profile  and Dividend History.

▶ Banc of California (BANC): Banc of California, Inc. operates as the bank holding company for Banc of California, National Association that provides banking products and services in the United States. The company's deposits cons....See Detailed Company Profile  and Dividend History.

▶ BancFirst (BANF): BancFirst Corporation, incorporated on July 12, 1984, is a financial holding company. The Company conducts its operating activities through its principal subsidiary, BancFirst (the Bank), a state-chartered bank. The Company ....See Detailed Company Profile  and Dividend History.

▶ BancFirst (BANFP): ....See Detailed Company Profile  and Dividend History.

▶ Banco Bradesco Sa (BBD): Banco Bradesco S.A. provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pensi....See Detailed Company Profile  and Dividend History.

▶ Banco Bradesco Sa (BBDO): Banco Bradesco S.A. provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans a....See Detailed Company Profile  and Dividend History.

▶ Bancorp of New Jersey (BKJ): Bancorp of New Jersey, Inc. operates as a bank holding company of Bank of New Jersey that provides banking services to individuals, businesses, non-profit organizations, and governmental units. The co....See Detailed Company Profile  and Dividend History.

... See Full List of All Stocks of Major Banks Sector.

Stock List of Other Finance Sub-sectors

▶ Stocks of Sector

▶ Stocks of Accident and Health Insurance Sector

▶ Stocks of Banks Sector

▶ Stocks of Business Services Sector

▶ Stocks of Commercial Banks Sector

▶ Stocks of Commercial Leasing Sector

▶ Stocks of Commercial REITs - NEC Sector

▶ Stocks of Consumer Finance Services Sector

▶ Stocks of Consumer Lending - NEC Sector

▶ Stocks of Diversified Commercial Services Sector

▶ Stocks of Diversified Financial Services Sector

▶ Stocks of Finance Companies Sector

▶ Stocks of Financial Services Sector

▶ Stocks of Insurance Sector

▶ Stocks of Investment Bankers and Brokers Sector

▶ Stocks of Investment Funds Sector

▶ Stocks of Investment Managers Sector

▶ Stocks of Investors Services Sector

▶ Stocks of Life Insurance Sector

▶ Stocks of Major Banks Sector

▶ Stocks of Miscellaneous Sector

▶ Stocks of Mortgage REITs Sector

▶ Stocks of Multiline Insurance and Brokers-NEC Sector

▶ Stocks of Office REITs Sector

▶ Stocks of Private Equity Sector

▶ Stocks of Property and Casualty Insurance-NEC Sector

▶ Stocks of Property Insurance Sector

▶ Stocks of Property-Casualty Insurers Sector

▶ Stocks of Real Estate Sector

▶ Stocks of REITs Sector

▶ Stocks of Savings Institutions Sector

▶ Stocks of Specialized REITs - NEC Sector

▶ Stocks of Specialty Insurers Sector


Stock List of Other Top-level Sectors

▶ Stocks of Sector

▶ Stocks of Basic Industries Sector

▶ Stocks of Basic Materials Sector

▶ Stocks of Capital Goods Sector

▶ Stocks of Communication Services Sector

▶ Stocks of Consumer Cyclical Sector

▶ Stocks of Consumer Defensive Sector

▶ Stocks of Consumer Durables Sector

▶ Stocks of Consumer Non-Durables Sector

▶ Stocks of Consumer Services Sector

▶ Stocks of Energy Sector

▶ Stocks of Finance Sector

▶ Stocks of Financial Services Sector

▶ Stocks of Health Care Sector

▶ Stocks of Industrials Sector

▶ Stocks of Miscellaneous Sector

▶ Stocks of Public Utilities Sector

▶ Stocks of Real Estate Sector

▶ Stocks of Services Sector

▶ Stocks of Technology Sector

▶ Stocks of Transportation Sector

▶ Stocks of Utilities Sector