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First United Corp - $FUNC STOCK NEWS

Welcome to our dedicated page for First United news (Ticker: $FUNC), a resource for investors and traders seeking the latest updates and insights on First United stock.

Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect First United's stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.

Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of First United's position in the market.

Rhea-AI Summary
First United reported its financial results for the first quarter of 2024, showcasing a consolidated net income of $3.7 million, or $0.56 per diluted share. The company experienced stable net income due to factors like loan growth slowdown and branch consolidation costs. While total assets saw a 0.4% increase, cash balances surged by $37.2 million, and gross loans increased by $5.7 million. The net interest margin was 3.12%, down from the previous year. Non-interest income remained stable, and non-interest expenses increased slightly. The 's net income saw a decrease year over year, influenced by a decline in net interest income and an increase in provision for credit losses. Despite challenges, the company's wealth management income grew, and operating expenses were managed effectively.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.31%
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Rhea-AI Summary
First United Corporation (FUNC) declares a cash dividend of $.20 per share, payable on May 1, 2024, to holders of record of the Corporation's common stock as of April 17, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.71%
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dividends earnings
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Rhea-AI Summary
First United Corporation (FUNC) reported a consolidated net income of $15.1 million for the year ended December 31, 2023, compared to $25.0 million in 2022. The bank experienced a decrease in total assets, cash balances, and investment securities, along with an increase in gross loans and a decrease in deposits. Despite industry challenges, the company achieved strong loan growth and maintained strong asset quality. However, the strategic balance sheet restructuring and branch network consolidation impacted the earnings. The net interest margin decreased, and non-interest expenses fluctuated. Overall, the company's net income decreased by $9.9 million year-over-year.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.01%
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Rhea-AI Summary
First United Corporation (FUNC) declares a cash dividend of $.20 per share, payable on February 1, 2024, to holders of record of the Corporation's common stock as of January 18, 2024.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.04%
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dividends earnings
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Rhea-AI Summary
First United Corporation announces earnings results for Q3 2023
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Rhea-AI Sentiment
End-of-Day
0.62%
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Rhea-AI Summary
First United Corporation (NASDAQ: FUNC) declares cash dividend of $.20 per share payable on November 1, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.06%
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dividends earnings
Rhea-AI Summary
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Rhea-AI Sentiment
End-of-Day
3.01%
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Rhea-AI Summary
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Rhea-AI Sentiment
End-of-Day
-0.61%
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dividends earnings
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Rhea-AI Summary
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Rhea-AI Sentiment
End-of-Day
-2.74%
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Rhea-AI Summary
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.97%
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dividends
First United Corp

Nasdaq:FUNC

FUNC Rankings

FUNC Stock Data

150.86M
6.08M
7.33%
36.01%
0.25%
Commercial Banking
Finance and Insurance
Link
United States of America
OAKLAND

About FUNC

first united bank & trust is a community bank that is passionate about serving both personal and business customers through an uncommon commitment to building helpful relationships and delivering customized solutions. a full-service financial institution, first united provides a complete range of consumer deposits, loan products and banking services, commercial deposit and loan products, and trust and insurance services. headquartered in oakland, maryland, the institution serves communities throughout maryland’s garrett, allegany, washington and frederick counties, and west virginia’s mineral, hardy, monongalia and berkeley counties, as well as neighboring areas of pennsylvania. devoted to its customers and the communities it serves, first united corporation is a one-bank holding company with more than one billion dollars in assets, nearly 30 full-service or drive-up offices and a customer service center.