Welcome to our dedicated page for FIRST UNITED CORP/MD/ 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.
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First United Corporation adopted a new stock repurchase program effective January 26, 2026. The program authorizes the company to buy back up to 1,000,000 shares of its common stock, which is about 15.4% of the issued and outstanding shares as of that date, over an 18‑month period.
Shares may be repurchased in open market or privately negotiated transactions at times, amounts and prices determined by the President and CEO, in line with securities laws, including Rule 10b‑18, and the company’s blackout policy. The company emphasizes it might not repurchase any shares; activity will depend on market opportunities, share price and volume, and its capital requirements and plans. Any purchases will be reported in future periodic SEC filings.
BlackRock, Inc. has disclosed a significant ownership position in First United Corp common stock. As of 12/31/2025, BlackRock beneficially owned 329,066 shares, representing 5.1% of the outstanding class. It holds sole voting power over 323,778 shares and sole dispositive power over 329,066 shares, with no shared voting or dispositive authority.
The shares are attributed to certain BlackRock business units under SEC aggregation rules, and various underlying clients or investors have the right to receive dividends or sale proceeds, with no single client holding more than five percent of the total outstanding common shares. BlackRock certifies that the position was acquired and is held in the ordinary course of business and not for the purpose of changing or influencing control of First United Corp.
First United Corporation reports a planned leadership transition effective January 1, 2026. Longtime executive Jason B. Rush, age 54, has been appointed President and Chief Executive Officer of both the Corporation and its bank subsidiary, First United Bank & Trust. In connection with this promotion, his annual base salary was set at $450,000.
Former Chairman, President and CEO Carissa L. Rodeheaver has moved into the role of Executive Chairman. In this position, she will continue to lead the Board and oversee regulatory examinations, year-end reporting, preparation of the Form 10-K and 2026 proxy statement, planning of the 2026 annual shareholders meeting, and the Corporation’s investor relations efforts, while advising the new CEO as requested.
First United Corporation disclosed that its Board of Directors has declared a cash dividend of $0.26 per share on its common stock. The dividend will be paid on February 2, 2026 to shareholders who are on record as of the close of business on January 16, 2026. This cash distribution provides direct income to current shareholders while signaling that the company is in a position to return capital to its owners. The announcement details are also provided in an accompanying press release.
First United Corporation (FUNC) announced a planned CEO transition and a bylaw change. Carissa L. Rodeheaver will retire from all roles at the conclusion of the 2026 annual meeting of shareholders, currently scheduled for May 7, 2026.
To support succession, effective January 1, 2026, the boards intend to increase their size to 11, elect Jason B. Rush as a director, appoint him President and Chief Executive Officer of the Corporation and First United Bank & Trust, and name Ms. Rodeheaver Executive Chairman to advise during the transition. After her retirement, the boards currently plan to reduce their size to 10.
The Board also amended the Bylaws to allow someone other than the Chairman—including the President—to serve as Chief Executive Officer, aligning governance with the succession plan.
First United Corporation (FUNC) reported an insider transaction by its SVP & CFO. On 11/03/2025, the officer purchased 63.674 shares of common stock at $35.15, coded “P.” The filing notes these shares were acquired through a dividend reinvestment program.
Following the transaction, the officer beneficially owned 10,762.7159 shares directly. The filing also lists 5.4603 shares held indirectly by a 401(k) plan. Explanatory notes indicate additional fractional shares were accumulated via dividend reinvestment since the last report.
First United Corporation (FUNC) reported an insider transaction by SVP & COO Jason B. Rush. On 11/03/2025, he acquired 81.332 shares of common stock at $35.15 per share through a dividend reinvestment program.
Following the transaction, Rush beneficially owned 25,088.77 shares directly. The filing notes this amount includes 88.4732 shares acquired with reinvested dividends pursuant to the First United Corporation Dividend Reinvestment and Stock Purchase Plan since the last report.
FIRST UNITED Corp. (FUNC): Director insider purchase reported. A director bought 83.896 shares of common stock on 11/03/2025 at $35.15 per share. The filing notes the shares were acquired through a dividend reinvestment program in the reporting person’s brokerage account. Following the transaction, the director beneficially owned 20,764.063 shares, held directly.
First United Corporation (FUNC) reported insider share purchases by Chairman, President & CEO Carissa L. Rodeheaver. On 11/03/2025, she acquired 46.2267 shares at $35.42 and 131.638 shares at $35.15, with the filing noting purchases pursuant to a dividend reinvestment program. Following these transactions, she directly owned 46,998.6609 shares. Indirect holdings were 85.6557 shares by spouse as UTMA custodian for son and 929.4075 shares via a 401(k) plan.
First United Corporation (FUNC) filed its Q3 2025 10‑Q, reporting higher profitability and balance sheet growth. For the nine months ended September 30, 2025, net income was $18.7 million versus $14.4 million a year ago, with diluted EPS of $2.88 versus $2.19. Quarterly results improved as well: Q3 2025 net income was $6.9 million versus $5.8 million, with diluted EPS of $1.07 versus $0.89.
Net interest income for the nine months rose to $50.1 million from $44.3 million as interest and fees on loans reached $67.1 million versus $60.5 million. Credit loss expense for the nine months was $2.0 million versus $2.4 million. Noninterest income held steady at $15.3 million, led by trust department revenue of $7.2 million versus $6.8 million.
Total assets were $2.02 billion as of September 30, 2025 versus $1.97 billion at year‑end. Deposits increased to $1.68 billion versus $1.57 billion, while short‑term borrowings fell to $20.2 million versus $65.4 million. Loans, net, were $1.48 billion versus $1.46 billion, and the allowance for credit losses was $19.1 million versus $18.2 million. Accumulated other comprehensive loss improved to $25.5 million from $30.2 million. The company declared a dividend of $0.26 per share in Q3 2025, bringing year‑to‑date dividends to $0.70 per share.