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Boal Brian R. reported acquisition or exercise transactions in this Form 4 filing.
FIRST UNITED CORP/MD/ director Brian R. Boal received a grant of 1,395 shares of Common Stock as compensation. The award was recorded at a price of $0.00 per share, indicating it was a non-cash grant. After this transaction, Boal directly owns 22,312.408 shares of the company’s common stock.
First United Corporation reported a leadership change on May 27, 2026. Its Board of Directors appointed Jason B. Rush, age 55, to serve as Chairman of the Board. He was recently elected as a director at the 2026 annual meeting held on May 7, 2026.
Rush already serves as the company’s President and Chief Executive Officer, roles he assumed effective January 1, 2026, after a long career at First United dating back to 1993. The company notes there have been no related-party transactions with him requiring disclosure under Item 404(a) of Regulation S-K.
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.