Welcome to our dedicated page for First Utd news (Ticker: FUNC), a resource for investors and traders seeking the latest updates and insights on First Utd stock.
First Utd Corp (FUNC) delivers essential financial services through its community banking and trust divisions. This dedicated news hub provides investors and stakeholders with all official corporate announcements and market-related developments.
Access timely updates including quarterly earnings reports, regulatory filings, and strategic initiatives affecting the bank's operations. Our curated collection features press releases about product expansions, leadership appointments, and compliance updates relevant to FUNC's community banking focus.
Key content categories include merger disclosures, dividend declarations, and operational changes within FUNC's trust services division. Bookmark this page for streamlined tracking of the institution's financial health and market positioning within the competitive banking sector.
First United Corporation (NASDAQ: FUNC) reported consolidated net income of $6.9 million for Q3 2022, equating to $1.04 per diluted share, up from $4.4 million or $0.66 per diluted share in Q3 2021. Year-to-date income reached $18.1 million with a net interest margin of 3.66%. Total assets rose by $51.2 million since June 30, 2022. Management anticipates a challenging environment ahead due to inflation. Despite rising costs, expense control efforts have been effective, contributing to profitability.
First United Corporation (NASDAQ: FUNC) has declared a cash dividend of $0.15 per share, set to be paid on November 1, 2022. Shareholders on record as of October 18, 2022 will be eligible for this dividend. First United Corporation operates through its subsidiary, First United Bank & Trust, in Maryland, and manages various finance and real estate entities aimed at commercial banking and low-income housing development. The dividend announcement reflects the company’s commitment to returning value to shareholders.
First United Corporation (NASDAQ: FUNC) reported strong earnings for Q2 2022, with a net income of $5.4 million ($0.82 per diluted share), up from $4.4 million in Q2 2021. Year-to-date income reached $11.1 million compared to $7.8 million last year. The increase is attributed to a rise in net interest income, driven by higher loan yields amid a rising interest rate environment, despite a decline in wealth management income due to reduced asset values. Total assets decreased by $7.9 million since last quarter, with gross loans up by $52.2 million, reflecting robust commercial loan growth.
On June 29, 2022, First United Corporation (NASDAQ: FUNC) declared a cash dividend of $.15 per share. This dividend is set to be paid on August 1, 2022, to shareholders recorded as of July 18, 2022. First United Corporation is the parent company of First United Bank & Trust, a Maryland trust company, and operates through various subsidiaries, including finance companies and real estate trusts.
First United Corporation (FUNC) reported a consolidated net income of $5.7 million (or $0.86 per diluted share) for Q1 2022, up from $3.4 million (or $0.49 per diluted share) in Q1 2021. Total assets rose by $30.5 million to $1.8 billion. Notable changes included a $27.7 million increase in gross loans, while deposits climbed by $38.2 million. The net interest margin improved to 3.40% compared to 3.11% in the previous year. Despite challenges in the mortgage sector, management remains optimistic about growth in a rising interest rate environment.
First United Corporation (NASDAQ: FUNC) announced a cash dividend of $.15 per share, payable on May 2, 2022. Shareholders of record as of April 18, 2022 will receive this dividend. The announcement underscores the company's commitment to returning value to shareholders while maintaining operations through its range of financial services offered by First United Bank & Trust and its subsidiaries.
First United Corporation (NASDAQ: FUNC) reported strong earnings for Q4 and the full year 2021. Net income rose to $7.5 million in Q4, a 74% increase year-over-year, with earnings per share (EPS) at $1.14. Total assets increased by $21.3 million to $1.7 billion. Key highlights include a 15% rise in net interest income and a net interest margin of 3.49%. Deposits grew by $24.9 million in Q4, driven by increased non-interest bearing deposits. The Bank remains well-capitalized, with a stable loan portfolio and strategically positioned for future growth amid rising interest rates.
First United Corporation (NASDAQ: FUNC) has announced a cash dividend of $.15 per share, set to be paid on February 1, 2022. Shareholders of record as of January 14, 2022 will be eligible for this dividend. The company operates as a holding entity for First United Bank & Trust and its various subsidiaries, focusing on both commercial banking and affordable housing development in Maryland.
First United Corporation (NASDAQ: FUNC) reported third quarter earnings, with consolidated net income of $4.4 million, down from $5.0 million a year prior. The company's total assets decreased by $24.9 million, while total loans rose by $16.5 million, largely due to a mortgage pool purchase. Although deposits fell by $11.6 million during the quarter, year-to-date deposits increased by $22.1 million. Net interest margin improved to 3.38%. However, non-interest expenses rose by 24%, primarily due to FHLB repayment penalties. The bank remains well-capitalized with a robust loan portfolio.
On September 27, 2021, First United Corporation (NASDAQ: FUNC) declared a cash dividend of $.15 per share, payable on November 1, 2021. Shareholders of record as of October 18, 2021 will receive this dividend. First United Corporation operates as a parent company of First United Bank & Trust in Maryland, which includes several subsidiaries focused on banking and finance, as well as real estate management.
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