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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.
First United Corp. President & CEO Jason Barry Rush reported an open-market purchase of 76.081 shares of common stock at $38.10 per share. After this transaction, he directly owns 27,166.8393 shares. The filing notes the shares were purchased through a brokerage dividend reinvestment program, and his reported holdings include an additional 90.5652 shares acquired with reinvested dividends since the prior report.
First United Corp. director Carissa Lynn Rodeheaver increased her stake through multiple transactions in Common Stock. On May 1, 2026, she made two open-market purchases totaling 167.175 shares, buying 123.1390 shares at $38.10 per share and 44.0360 shares at $37.70 per share. A footnote explains these shares were purchased pursuant to a dividend reinvestment program through her brokerage account, indicating the activity is tied to automatic reinvestment of dividends rather than discretionary trading. In addition, she indirectly holds 942.2949 shares through a 401(k) plan and 86.8373 shares held by her spouse as UTMA custodian for their son, with these balances including small amounts acquired via reinvested dividends under the company’s Dividend Reinvestment and Stock Purchase Plan.
BlackRock, Inc. files Amendment No. 1 to a Schedule 13G/A reporting beneficial ownership of 324,758 shares of First United Corp Common Stock. The filing states this equals 4.99% of the class, with 319,470 shares of sole voting power and 324,758 shares of sole dispositive power. The signature is dated 04/27/2026.
First United Corporation reported stronger first quarter 2026 results, with higher earnings, margin expansion and stable credit quality. GAAP net income rose to $6.7 million, or $1.03 per diluted share, up from $5.8 million, or $0.89, a year earlier. Non-GAAP net income was $6.6 million, or $1.02 per diluted share.
Return on average assets reached 1.29% and return on average equity was 13.06%. Net interest income increased to $18.1 million, helped by an 8 basis-point sequential increase in the non-GAAP net interest margin to 3.83% as funding costs declined and loan yields improved. Other operating income grew to $5.2 million, supported by trust and brokerage fees and higher bank-owned life insurance income.
Total assets were $2.04 billion at March 31, 2026, with gross loans of $1.53 billion and deposits of $1.75 billion. Asset quality remained strong: the allowance for credit losses stood at $20.0 million, or 1.31% of loans, net charge-offs were only 0.05% of average loans, and nonperforming assets were 0.42% of total assets. Capital ratios stayed well above regulatory "well-capitalized" levels, and tangible book value per share increased to $30.08.