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 United Corporation (NASDAQ: FUNC) is a financial services holding company and the parent of First United Bank & Trust, a Maryland trust company with commercial banking powers. News about FUNC often centers on its role in commercial banking and wealth management, as well as its activities as a regional community bank serving counties in Maryland and West Virginia.
Investors following First United Corporation’s news can expect regular updates on quarterly and annual financial results. In press releases that are also furnished on Form 8-K, the company reports net income, net interest income, net interest margin, loan originations, deposit trends, non-interest income such as wealth management fees and gains on sales of residential mortgages and investment securities, and changes in operating expenses. These releases also provide balance sheet overviews, including total assets, loan balances, investment portfolio changes and deposit composition.
Another recurring theme in FUNC news is the declaration of cash dividends on its common stock. The Board of Directors periodically announces per-share dividend amounts, payment dates and record dates, and these decisions are disclosed through press releases and corresponding 8-K filings. These items help shareholders track the company’s approach to capital and shareholder distributions.
News coverage also includes governance and management developments. For example, the company has issued a press release and filed an 8-K describing a management succession plan, including a planned retirement of the existing Chairman, President and Chief Executive Officer and the intended appointment of a new President and Chief Executive Officer, along with related amendments to the Corporation’s Bylaws. Such announcements provide insight into leadership continuity and board decisions.
For users monitoring FUNC, this news feed offers a consolidated view of earnings announcements, dividend declarations, investor presentations referenced in Form 8-K filings, and key corporate governance updates related to First United Corporation and First United Bank & Trust.
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.
First United Corporation (NASDAQ: FUNC) reported a robust financial performance for Q2 and YTD 2021, with net income soaring 71% to $4.4 million, and a remarkable 81.4% increase to $7.8 million for the first six months. Earnings per share rose to $0.66 from $0.37 year-over-year. Notably, non-GAAP pre-tax earnings climbed 19%, alongside a 24% growth in wealth management income. Despite strong asset quality and a resilient loan and wealth pipeline, net interest margin compressed to 3.13% due to lower rates and higher cash balances. Total assets grew to $1.8 billion with solid deposit growth of 2.4%.