Welcome to our dedicated page for First Utd SEC filings (Ticker: FUNC), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
First United Corporation’s SEC filings document a Maryland bank holding company with common stock listed on the Nasdaq Stock Market under FUNC. Recent 8-K reports furnish operating results, dividend announcements, annual meeting materials, officer appointments, and executive compensation arrangements tied to the company and its bank subsidiary, First United Bank & Trust.
Proxy materials and related governance filings cover director elections, executive compensation, equity awards, pay-versus-performance disclosures, and shareholder meeting matters. The filing record also reflects the company’s capital structure as a public bank holding company and its formal disclosures around community banking, wealth management, risk oversight, and board-level compensation programs.
First United Corporation filed an amended report to update shareholders on voting results from its 2026 annual meeting and to confirm how often it will hold advisory pay votes. Shareholders elected 10 directors and approved an amendment to the charter to reduce the votes required for certain shareholder actions.
Investors also supported 2025 executive compensation in a non-binding vote and strongly favored holding future Say-on-Pay Votes every year. The board later decided that Say-on-Pay Votes will continue to be held annually. Shareholders ratified Crowe LLP as independent auditor for the 2026 fiscal year.
First United Corp. EVP & CFO Tonya K. Sturm reported a routine tax-related share disposition. On May 20, 2026, she surrendered 133 shares of Common Stock at $36.88 per share to the company to satisfy tax withholding obligations tied to the vesting of time-vesting restricted stock units that were granted on May 20, 2024. After this non-market transaction, she directly holds 11,775.5977 shares of First United Corp. common stock.
FIRST UNITED CORP/MD/ executive Keith Sanders filed an amended insider report showing a routine tax-related share disposition. The amendment corrects the transaction date on a prior Form 4. On the corrected date, 120 shares of common stock were surrendered to the company at $36.88 per share to satisfy tax withholding obligations tied to the vesting of time-vesting restricted stock units granted on May 20, 2024. After this tax-withholding disposition, Sanders directly held 15,341.8195 shares of common stock.
FIRST UNITED CORP/MD/ executive Keith Sanders reported a routine tax-withholding share disposition. On May 20, he surrendered 120 shares of common stock at $36.88 per share to the issuer to satisfy tax withholding obligations tied to vesting restricted stock units. After this transaction, he directly holds 15,341.8195 shares of common stock.
FIRST UNITED CORP/MD/ Chief Banking Officer Robert L. Fisher II surrendered 146 shares of common stock at $36.88 per share to the company to satisfy tax withholding on vesting of time-vesting restricted stock units granted on May 20, 2024. After this compensation-related tax-withholding disposition, he directly holds 14,355 shares of common stock.
First United Corporation reported the results of its 2026 annual shareholder meeting held on May 7, 2026. Shareholders elected 10 directors to serve until the 2027 annual meeting and approved an amendment to the charter to reduce the votes required to approve certain shareholder actions.
Investors also cast a non-binding advisory vote approving 2025 compensation for named executive officers, and recommended holding future Say-on-Pay votes every 1 year. In addition, shareholders ratified the appointment of Crowe LLP as independent registered public accounting firm for the fiscal year ending December 31, 2026.
First United Corporation reported stronger Q1 2026 results, with net income of $6.7 million compared to $5.8 million a year earlier. Net interest income rose to $18.1 million from $16.0 million as interest income of $25.7 million outpaced interest expense of $7.6 million. Credit loss expense increased to $0.9 million, but higher fee and other income of $5.3 million also supported earnings.
Other operating expenses grew to $13.7 million, mainly from salaries, data processing and professional services. Basic and diluted earnings per share were $1.03, up from $0.90 and $0.89, respectively. The quarterly dividend rose to $0.26 per share.
Total assets were $2.04 billion and total deposits $1.75 billion. Long‑term borrowings fell sharply to $30.9 million from $95.9 million, while the allowance for credit losses on loans edged up to $20.0 million. Nonaccrual loans were $4.7 million, and comprehensive income was $5.5 million.
First United Corporation reported strong 2025 and early 2026 performance, highlighting growth, profitability and capital strength. Net income for 2025 was $24.5 million, or $3.77 per diluted share, with non‑GAAP net income of $25.8 million, or $3.97 per diluted share, supported by disciplined pricing and a higher net interest margin of 3.67%. Total assets reached $2.19 billion at December 31, 2025, up $114.4 million from the prior year, while the non‑GAAP efficiency ratio improved to 58.19%, reflecting cost control and revenue growth.
For the first quarter of 2026, non‑GAAP earnings were $6.6 million, or $1.02 per diluted share, with an annualized return on average assets of 1.28% and return on average tangible common equity of 13.75%. The net interest margin increased further to 3.83%, and the allowance for credit losses to loans was 1.31% as of March 31, 2026, with asset quality described as stable.
Capital metrics remained well above regulatory well‑capitalized levels, and tangible book value per share rose to $30.08 with a tangible common equity ratio of 9.56% as of March 31, 2026. The Board re‑authorized a stock repurchase plan for up to 1,000,000 additional shares and increased the quarterly dividend from $0.22 to $0.26 per share. Total shareholder return, including reinvested dividends, was 26.9% over one year, 141.4% over three years and 138.4% over five years as of March 31, 2026, outpacing both the S&P US Small Cap Banks index and the company’s proxy peer group.
First United Corp. EVP & CFO Tonya K. Sturm reported a small purchase of common stock. She acquired 2.951 shares on May 1, 2026 at $38.10 per share, described as being bought through a dividend reinvestment program in her brokerage account.
After this transaction, she directly holds 11,908.5977 shares of First United common stock and indirectly holds 5.536 shares through a 401(k) plan. A footnote states that her reported holdings include 64.6479 shares accumulated with reinvested dividends under the First United Corporation Dividend Reinvestment and Stock Purchase Plan since the last report.
First United Corp. director Brian R. Boal acquired additional company stock through an automatic plan tied to dividends. On May 1, 2026, he purchased 78.48 shares of Common Stock at $38.10 per share under a dividend reinvestment program in his brokerage account.
After this transaction, Boal directly holds 20,917.408 First United common shares. The filing shows a single open-market type purchase with no related sales or derivative exercises reported in this Form 4.