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.
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%.
First United Corporation (NASDAQ: FUNC) declared a cash dividend of $.15 per share, payable on August 2, 2021, to stockholders of record as of July 19, 2021. This decision reflects the company’s ongoing commitment to provide returns to its shareholders.
First United Corporation serves as the parent company for First United Bank & Trust, located in Maryland, and includes several wholly-owned subsidiaries focused on finance and real estate management.
First United Corporation (NASDAQ: FUNC) reported significant financial growth for Q1 2021, with consolidated net income rising 95.4% to $3.4 million compared to $1.8 million in Q1 2020. Key metrics include total assets increasing by 2.8% ($48.4 million), loan growth of 2.7%, and deposits growing by 3.1%. However, the net interest margin declined to 3.11% from 3.69% due to lower interest rates and increased cash balances. Basic and diluted earnings per share both rose to $0.49, up 96% year-over-year. The company also increased its quarterly dividend to $0.15 per share.
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