First United Corp
mybank.comWhat Do They Do?
Provides trust, investment and estate services to individuals, alongside retail and commercial banking products such as deposits and loans for consumers, businesses and nonprofits.
10-K for FY2025, filed Mar 10, 2026The Bank’s wealth department offers a full range of trust services, including personal trust, investment agency accounts, charitable…View ↗
The Bank operates 23 banking offices, one customer service center and 30 Automated Teller Machines (“ATMs”) in Allegany County, Frederick…View ↗
Community Banking: The Community Banking segment is conducted through the Bank and involves delivering a broad range of financial products…View ↗
How Do They Make Money?
Customers pay trust management and administration fees monthly based on month-end asset values, generally by account charge a few days later. The bank also earns interest on loans and investments, plus account, card and other service fees, generally when services are provided or immediately or the following month.
10-K for FY2025, filed Mar 10, 2026Trust and asset management income is primarily comprised of fees earned from the management and administration of trusts and other customer…View ↗
Service charges on deposit accounts consist of account analysis fees (i.e., net fees earned on analyzed business and public checking…View ↗
Fees, exchange, and other service charges are primarily comprised of ATM fees, loan servicing fees and other service charges. ATM fees are…View ↗
Debit and credit card income is primarily comprised of interchange fees earned whenever the Corporation’s debit cards are processed through…View ↗
First United Corporation is a financial holding company that, through the Bank and its non-bank subsidiaries, provides an array of…View ↗
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10-K for FY2025, filed Mar 10, 2026
FY2025 revenue by product or service ↗
$18.4M
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10-K for FY2025, filed Mar 10, 2026
$18.4M ↗
| Segment | Share | Revenue | How money arrives |
|---|---|---|---|
|
Service charges on deposit accounts
Mix
10-K for FY2025, filed Mar 10, 2026 |
12%
FY2022: 12%
|
Service charges on deposit accounts, FY2025
$2.3M Sources
|
Mix |
|
Other service charges
Sold outright
|
4.6%
FY2022: 5.7%
|
Other service charges, FY2025
$845K Sources
|
Sold outright |
|
Trust department
|
53%
FY2022: 51%
|
Trust department, FY2025
$9.8M Sources
|
|
|
Debit card income
Usage-based
10-K for FY2025, filed Mar 10, 2026 |
22%
FY2022: 25%
|
Debit card income, FY2025
$4.1M Sources
|
Usage-based |
|
Brokerage commissions
|
7.8%
FY2022: 6.5%
|
Brokerage commissions, FY2025
$1.4M Sources
|
Who Are Their Customers?
Consumers, businesses and nonprofits use the Bank’s offices for deposits, loans and other banking services; trust customers receive investment, retirement and estate services through its wealth department.
10-K for FY2025, filed Mar 10, 2026The Bank operates 23 banking offices, one customer service center and 30 Automated Teller Machines (“ATMs”) in Allegany County, Frederick…View ↗
The Bank’s wealth department offers a full range of trust services, including personal trust, investment agency accounts, charitable…View ↗
Community Banking: The Community Banking segment is conducted through the Bank and involves delivering a broad range of financial products…View ↗
Do Revenues Turn Into Profits?
Yes. Its net income in FY2025 was larger than its revenue and turned 84 cents into free cash flow.
How Are They Changing?
-
May 28, 2026
Jason Rush appointed board chair
Jason Rush was appointed chair while serving as president and CEO, positions he assumed effective January 1, 2026.
Sources
8-K, filed May 28, 2026
On May 27, 2026, the Board of Directors (the “Board”) of First United Corporation (the “Corporation”) appointed Jason B. Rush, age 55, to…View ↗
Growing. Revenue grew 15% in 4 years, from $16.1M in FY2021 to $18.4M in FY2025, about 4% a year.
Market footprint
Its listed West Virginia markets omit Harrison County, which was part of its described market area before.
10-K for FY2022, filed Mar 24, 2023 10-K for FY2025, filed Mar 10, 2026The Bank operates 26 banking offices, one customer service center and 34 Automated Teller Machines (“ATMs”) in Allegany County, Frederick…View ↗
The Bank operates 23 banking offices, one customer service center and 30 Automated Teller Machines (“ATMs”) in Allegany County, Frederick…View ↗
Who Do They Compete With?
Competes with Truist Bank, Dollar Bank, Federal Savings Bank, Somerset Trust, PNC Bank, Bank Of America, Atlantic Union Bank, Woodsboro Bank, Middletown Valley Bank, Capital One, ACNB Bank, Wells Fargo Bank, WesBanco Bank, United Bank, Clear Mountain Bank, Miners & Merchants Bank, The Grant County Bank, FNB Bank, MVB Bank, and The Huntington National Bank
10-K for FY2025, filed Mar 10, 2026 Offices Deposits Market (in Market) (in thousands) Share Allegany County, Maryland: …View ↗
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