FUNCNasdaqNational Commercial BanksUS GAAP · USD

First United Corporation

First United Corp. is a Maryland-based bank holding company whose main operating business is First United Bank & Trust, a community bank serving western Maryland and nearby West Virginia markets. It earns most of its revenue from net interest income on loans and securities, supplemented by fee income from wealth management, trust, brokerage, and other financial services.

Kysy yhtiöstä
Liikevaihto18,4milj. USD
+4,0 %v/v
Nettotulos24,5milj. USD
+19,2 %v/v
Vapaa kassavirta15,4milj. USD
−24,3 %v/v

Tilikausi 2025 · muutos edellisvuodesta

Kehitys 2020–2025

05101520milj. USD2020: 13 milj. USD20202021: 16 milj. USD20212022: 16 milj. USD20222023: 17 milj. USD20232024: 18 milj. USD20242025: 18 milj. USD202518
LiikevaihtoLiikevoitto (EBIT)
Kysy Clarifolta: First United Corporation

Liiketoiminta

Osuus liikevaihdosta
Net interest banking80 %

Core lending, deposit gathering, and investment securities activities that generate most revenue.

Wealth management and trust8 %

Trust department income, brokerage commissions, and related advisory services.

Consumer finance6 %

OakFirst Loan Centers provide consumer lending products outside the core branch bank.

Other banking and fee income4 %

Service charges, card-related fees, and other operating income from banking customers.

Real estate and affiliated investments2 %

OREO holdings and low-income housing partnership interests managed through subsidiaries.

Tuotteet

Raportoitu · osuus liikevaihdosta
53,3%22,0%12,2%FY2025100 %
  • Trust Department53,3 %
  • Debit Card Income22,0 %
  • Service Charges12,2 %
  • Brokerage Commissions7,8 %
  • Other Service Charges4,6 %

Lähde: 10-K FY2025, yhtiön tuotelinjoittain raportoima liikevaihto (SEC XBRL). Osuudet on laskettu näytetyistä riveistä ja ne summautuvat 100 %:iin.

Asiakkaat

The company serves retail households, small businesses, and commercial borrowers in its local market areas, with a strong community-banking orientation. It also serves wealth management clients, trust customers, and brokerage users who need investment and fiduciary services. Deposit customers are attracted by local relationships and convenience, while loan customers value personalized underwriting and local decision-making.

Retail banking customers

Households that buy deposit accounts, consumer loans, and mortgage products for everyday banking needs.

Small business customers

Local businesses that use the bank for operating deposits, credit lines, and relationship-based lending.

Commercial borrowers

Larger local and regional businesses that need tailored credit solutions and local underwriting.

Wealth management and trust clients

Individuals and families using trust, brokerage, and asset supervision services for investment administration.

Consumer finance borrowers

Borrowers served through OakFirst Loan Centers for non-core consumer lending products.

Strategia

Management’s strategy is centered on organic growth in its existing market areas, using local reputation, personal relationships, and community banking service to win deposits and loans. The company also supplements core banking with wealth management, trust, brokerage, and consumer finance to broaden fee income and deepen customer relationships. It may consider acquisitions or expansion opportunities, but the disclosed emphasis remains on disciplined local growth and maintaining strong capital and liquidity.

Organic growth in core marketsLyhyt aikaväli

The bank relies on local reputation and community relationships to expand deposits and loans.

Broaden fee-based incomeKeskipitkä aikaväli

Wealth management and trust services reduce reliance on spread income and deepen relationships.

Preserve capital and liquidity strengthLyhyt aikaväli

A strong balance sheet supports lending capacity, regulatory compliance, and depositor confidence.

Maantiede

Business is concentrated in four Western Maryland counties and three Northeastern West Virginia counties, where the bank operates 23 branch offices. This local footprint makes the company highly dependent on regional economic conditions, deposit competition, and borrower credit quality in a relatively narrow market. Wealth management assets under supervision were about $1.8 billion at year-end 2025, showing that fee-based activity extends beyond the branch footprint even though the business remains locally anchored.

Riskit

The company is exposed to classic community-bank risks: competition for deposits and loans, concentration in a limited geographic footprint, and sensitivity to local credit conditions. It also faces funding, interest-rate, and regulatory risks because its earnings depend heavily on spread income and its balance sheet is funded largely by deposits. Non-core risks include OREO write-downs, goodwill impairment, and execution risk if management pursues acquisitions or branch changes.

Järjestetty vakavuuden mukaan
MatalaKohtalainenKorkeaMatalaKohtalainenKorkeaVaikutus →Todennäköisyys →Competitive pressure in local banking markets1Funding and liquidity constraints2Credit losses and collateral deterioration3Interest-rate sensitivity4Geographic concentration5
Vaikutus on riskin vakavuus ja todennäköisyys sen toteutumisen todennäköisyys lähivuosina, molemmat arvioitu yhtiön raporttien perusteella. Numerot vastaavat listaa.
  1. Competitive pressure in local banking marketsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Deposits and loans are contested by larger banks, credit unions, and internet providers.

    KohdistuuLoansDepositsFee services
  2. Funding and liquidity constraintsVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Future growth depends on replacing deposits and maintaining access to wholesale funding sources.

    KohdistuuDeposit baseFHLB borrowingsCorrespondent lines
  3. Credit losses and collateral deteriorationVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Community banks are exposed to borrower defaults and collateral value declines in local markets.

    Kohdistuu: Loan portfolio and OREO

  4. Interest-rate sensitivityVaikutus: KorkeaTodennäköisyys: Kohtalainen

    Net interest income is the largest revenue source and depends on funding and asset repricing.

    Kohdistuu: Net interest margin

  5. Geographic concentrationVaikutus: KeskitasoTodennäköisyys: Kohtalainen

    Operations are concentrated in a small set of counties in Maryland and West Virginia.

    Kohdistuu: Credit quality and deposit gathering

Kysy Clarifolta: First United Corporation

Kirjanpito

Harkinnanvaraiset erät
Allowance for credit losses on loans

Management estimates lifetime expected losses using portfolio risk, forecasts, and historical experience.

Vaikutus: Directly affects provision expense, earnings, and loan carrying values

OREO valuation and write-downs

Foreclosed real estate must be carried at realizable value, creating impairment risk.

Vaikutus: Can reduce noninterest income and increase noninterest expense

Goodwill and intangible impairment

The company carries goodwill and other intangibles that require periodic impairment testing.

Vaikutus: Could create non-cash charges to earnings

Available-for-sale securities fair value

Market value changes can affect accumulated other comprehensive income and realized gains/losses.

Vaikutus: Impacts equity and other operating income

Samankaltaisia listattuja yhtiöitä

Julkisesti listattuja yhtiöitä, joilla on samankaltainen liiketoiminta.

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Päivitetty: 24.9.2026

First United Corporation (FUNC) liikevaihto, tulos ja tunnusluvut 2025 – Clarifo