Last $8.52 USD
Change Today -0.03 / -0.35%
Volume 2.4K
FUNC On Other Exchanges
Symbol
Exchange
NASDAQ GS
As of 8:10 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

first united corp (FUNC) Snapshot

Open
$8.60
Previous Close
$8.55
Day High
$8.60
Day Low
$8.51
52 Week High
06/2/14 - $9.15
52 Week Low
02/13/14 - $7.30
Market Cap
53.1M
Average Volume 10 Days
7.2K
EPS TTM
$0.38
Shares Outstanding
6.2M
EX-Date
12/15/10
P/E TM
22.4x
Dividend
--
Dividend Yield
--
Current Stock Chart for FIRST UNITED CORP (FUNC)

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first united corp (FUNC) Details

First United Corporation operates as the holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. The company offers various deposit products, including checking accounts, savings and money market accounts, regular and individual retirement accounts (IRA) certificates of deposit, Christmas savings accounts, college savings accounts, and health savings accounts; Certificate of Deposit Account Registry Service program and Insured Cash Sweep program to municipalities, businesses, and consumers; and commercial customers packages, which include treasury management, cash sweep, and various checking opportunities. Its loan portfolio consists of commercial loans secured by real estate, commercial equipment, vehicles, or other assets of the borrower; commercial real estate loans for residential and commercial development, agricultural purpose properties, and service industry buildings; residential mortgage loans; real estate construction loans; indirect and direct auto loans; secured and unsecured lines of credit; and term loans. In addition, the company provides various trust services, including personal trust, investment agency accounts, charitable trusts, retirement accounts that consist of IRA roll-overs, 401(k) accounts and defined benefit plans, estate administration, and estate planning; insurance products; brokerage services; and safe deposit and night depository facilities. It operates 25 banking offices, 1 call center, and 28 automated teller machines in Allegany, Frederick, Garrett, and Washington counties in Maryland; and in Berkeley, Mineral, and Monongalia counties in West Virginia. First United Corporation was founded 1900 and is headquartered in Oakland, Maryland.

300 Employees
Last Reported Date: 03/10/14
Founded in 1900

first united corp (FUNC) Top Compensated Officers

Chairman, Chief Executive Officer, Member of ...
Total Annual Compensation: $280.0K
President, Chief Financial Officer, Principal...
Total Annual Compensation: $202.3K
First Vice President and Senior Trust Officer
Total Annual Compensation: $163.3K
Compensation as of Fiscal Year 2013.

first united corp (FUNC) Key Developments

First United Corporation and First United Bank & Trust Announce Management Changes

On December 17, 2014, in connection with the planned retirement of William B. Grant on December 31, 2015 and as part of their succession planning efforts, the Boards of Directors of First United Corporation and its wholly-owned subsidiary, First United Bank & Trust (the Bank), appointed Carissa L. Rodeheaver as Chairman of the Board, President and Chief Executive Officer, effective January 1, 2016. Ms. Rodeheaver currently serves as a director and as the President and Chief Financial Officer of the company and the Bank, and Mr. Grant currently serves as the Chairman of the Board and Chief Executive Officer. Ms. Rodeheaver and Mr. Grant will continue to serve in their current positions through December 31, 2015. During 2015, the Board intends to name a qualified individual to take over the Chief Financial Officer position following the implementation of this succession plan.

First United Corporation Announces Unaudited Consolidated Financial Results for the Third Quarter and Nine Months Ended September 30, 2014

First United Corporation announced unaudited consolidated financial results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported interest income of $11.497 million against $13.979 million a year ago. Net interest income of $8.825 million against $8.919 million a year ago. Income before taxes was $1.563 million against $2.514 million a year ago. Net income available to common shareholders was $0.665 million or $0.10 basic/diluted per share against $1.388 million or $0.22 basic/diluted per share a year ago. Book value was $13.21 compared with $11.18 for the same period last year. Return on average assets was 0.39% compared with 0.56% for the same period last year. Return on average shareholders' equity was 4.79% compared with 7.52% for the same period last year. The decrease in earnings was due to a decrease of $3.4 million in interest income, primarily interest on loans, and an increase in provision expense of $1.8 million, offset by an increase of $0.5 million in other operating income, a decrease of $0.6 million in interest expense, and a $1.6 million decrease in other operating expenses. For the six months, the company reported interest income of $34.918 million against $38.346 million a year ago. Net interest income of $26.684 million against $29.522 million a year ago. Income before taxes was $4.913 million against $7.453 million a year ago. Net income available to common shareholders was $2.013 million or $0.07 basic/diluted per share against $4.274 million or $0.15 basic/diluted per share a year ago. Book value was $13.15 compared with $12.54 for the same period last year. Return on average assets was 0.39% compared with 0.41% for the same period last year. Return on average shareholders' equity was 4.82% compared with 5.18% for the same period last year.

First United Corporation Announces Auditor Changes

On October 1, 2014, First United Corporation was notified that the audit practice of ParenteBeard LLC, the company's independent registered public accounting firm, was combined with Baker Tilly Virchow Krause, LLP in a transaction pursuant to which ParenteBeard combined its operations with Baker Tilly and certain of the professional staff and partners of ParenteBeard joined Baker Tilly either as employees or partners of Baker Tilly. On October 1, 2014, in connection with the foregoing combination, ParenteBeard resigned as the company's independent registered public accounting firm. On that same date, the audit committee of the company's Board of Directors engaged Baker Tilly to serve as the company's independent registered public accounting firm.

 

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FUNC

Industry Average

Valuation FUNC Industry Range
Price/Earnings 22.0x
Price/Sales 1.1x
Price/Book 0.6x
Price/Cash Flow 11.1x
TEV/Sales NM Not Meaningful
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