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) 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.
First United Corporation (NASDAQ: FUNC) has declared a cash dividend of $.15 per share, scheduled for payment on May 3, 2021. The dividend will benefit shareholders recorded as of April 19, 2021. This announcement reflects the company's commitment to returning value to its shareholders. First United Corporation serves as the parent company for First United Bank & Trust, along with its subsidiaries involved in commercial banking and finance operations in Maryland.
First United Corporation (NASDAQ: FUNC) has been awarded a 5-star rating by BauerFinancial for the fourth consecutive year, recognizing its strength in banking based on metrics such as capital adequacy and profitability. This accolade highlights First United's commitment to delivering strong financial performance amidst challenges, as stated by CEO Carissa Rodeheaver. The company aims to continue supporting its communities while focusing on value for shareholders. BauerFinancial emphasizes the essential role of community banks like First United in aiding their neighborhoods.
First United Corporation (NASDAQ: FUNC) reported significant growth in its financial results for Q4 2020, with net income soaring 72% to $5.0 million, and EPS increasing 76% to $0.72 compared to Q4 2019. Full-year 2020 net income rose 9% to $14.3 million, driven by a 34% increase in pre-tax, pre-provision earnings to $23.8 million. The bank saw solid mortgage production of $42.8 million, strong fee income of $8.5 million, and maintained strong asset quality. However, the net interest margin declined to 3.34% from 3.68% due to a low-rate environment and substantial PPP loan balances. Overall, the results reflect resilience amid economic challenges.
First United Corporation (NASDAQ: FUNC) has announced a cash dividend of $.13 per share, set to be paid on February 1, 2021. To qualify, investors must be holders of record as of January 15, 2021. This decision reflects the company's commitment to returning value to shareholders amidst its financial operations.
As the parent company of First United Bank & Trust, First United Corporation operates various subsidiaries, enhancing its portfolio in the banking and finance sector.
First United Corporation (NASDAQ: FUNC) reported its Q3 and YTD 2020 financial results, showing total assets up 16.9% to $1.7 billion. Deposits rose by $235.3 million, driven by a 20.6% increase in deposits and $148.9 million in PPP loans. Consolidated net income for Q3 was $5.0 million, up from $4.5 million YoY, with EPS at $0.70. However, net interest margin fell to 3.12% from 3.62% due to lower loan yields. The allowance for loan losses increased to 1.36%, reflecting economic uncertainties from COVID-19.
First United Corporation (NASDAQ: FUNC) has declared a cash dividend of $.13 per share, payable on November 2, 2020. Shareholders on record as of October 16, 2020 will receive this payment, reflecting the company’s ongoing commitment to returning value to its shareholders. The company, based in Maryland, operates through its banking subsidiary and various finance companies.
First United Corporation (NASDAQ: FUNC) announced its financial results for Q2 and the first half of 2020. Total assets surged by $197.6 million, a 13.7% increase year-over-year, driven by 13.4% loan and 18.4% deposit growth. Consolidated net income remained stable at $2.6 million for Q2, with earnings per share unchanged at $0.37. However, the net interest margin fell to 3.61%, and provisions for loan losses increased amidst economic uncertainties related to COVID-19. The firm adapted to the pandemic by assisting borrowers and implementing modifications and deferral programs for loans.