Filing Analysis
First United Corporation has filed an 8-K to furnish its quarterly financial results and investor presentation for the periods ended June 30, 2026. The filing serves as a standard regulatory disclosure of earnings performance.
📋 Key Facts
- Report date: July 20, 2026
- Reporting period: Three- and six-month results ended June 30, 2026
- Included Exhibit 99.1: Press release regarding financial results
- Included Exhibit 99.2: Investor presentation discussing financial aspects
First United Corporation announced a cash dividend of $0.26 per share. The dividend is payable on August 3, 2026, to shareholders of record as of July 20, 2026.
📋 Key Facts
- Dividend amount: $0.26 per share
- Record date: July 20, 2026
- Payment date: August 3, 2026
- Dividend type: Cash dividend
First United Corporation filed an amended 8-K to report the results of its 2026 annual meeting of shareholders, including the election of directors, ratification of auditors, and a decision on the frequency of 'Say-on-Pay' votes.
📋 Key Facts
- Annual meeting held on May 7, 2026.
- 10 directors were elected to the board.
- Shareholders approved an amendment to the charter to reduce votes required for certain shareholder actions.
- The 2025 executive compensation (Say-on-Pay) was approved via non-binding advisory vote.
- Crowe LLP was ratified as the independent registered public accounting firm for fiscal year 2026.
- The Board decided on May 27, 2026, that Say-on-Pay votes will continue to be held annually.
First United Corporation appointed Jason B. Rush as Chairman of the Board effective May 27, 2026. Mr. Rush already serves as the company's President and CEO, having been appointed to those roles on January 1, 2026.
📋 Key Facts
- Jason B. Rush (age 55) appointed Chairman of the Board on May 27, 2026.
- Mr. Rush has been with the organization since October 1993.
- Mr. Rush assumed the roles of President and CEO on January 1, 2026.
- Mr. Rush was elected to the Board by shareholders on May 7, 2026.
First United Corporation reported the results of its 2026 annual meeting of shareholders held on May 7, 2026. Shareholders elected 10 directors, approved a charter amendment to reduce voting thresholds for certain actions, and ratified the appointment of Crowe LLP as the independent auditor.
📋 Key Facts
- Ten directors were elected to serve until the 2027 annual meeting, with John F. Barr and Brian R. Boal among those re-elected.
- Proposal 2, an amendment to the Corporation's charter to reduce the votes required for certain shareholder actions, was approved with 3,474,247 votes for.
- Crowe LLP was ratified as the independent registered public accounting firm for the fiscal year ending December 31, 2026, with 4,566,188 votes for.
- Shareholders voted in favor of an annual frequency (Every 1 year) for future advisory votes on executive compensation.
- Executive compensation for 2025 was approved on a non-binding advisory basis.
First United Corporation furnished a shareholder presentation for its Annual Meeting of Shareholders held on May 7, 2026. The presentation covers financial data for the fiscal year 2025 and performance trends for the first quarter of 2026.
📋 Key Facts
- The Annual Meeting of Shareholders was held on May 7, 2026.
- The company presented financial data and performance trends for the year ended December 31, 2025.
- The company presented financial data and performance trends for the first quarter of 2026.
- The presentation was furnished as Exhibit 99.1 under Item 7.01 (Regulation FD Disclosure).
First United Corporation announced its financial results for the first quarter ended March 31, 2026, and released a corresponding investor presentation.
📋 Key Facts
- Financial results for the three months ended March 31, 2026, were issued via press release on April 20, 2026.
- An investor presentation discussing the Q1 2026 results was published on April 21, 2026.
- The filing includes Item 2.02 (Results of Operation and Financial Condition) and Item 7.01 (Regulation FD Disclosure).
First United Corporation has updated its executive compensation frameworks, specifically revising performance metrics for its Long-Term Incentive Plan (LTIP) and establishing 2026 cash incentive targets for key executives under the Short-Term Incentive Plan (STIP).
📋 Key Facts
- LTIP performance goals were revised to Return on Average Equity (ROAE) and Growth in Tangible Book Value per Share (TBVPSG) measured against a 103-bank peer group.
- The performance-vesting RSU period is three years, ending December 31, 2028.
- CEO Jason B. Rush's 2026 STIP target is $142,500, with a maximum potential of $213,750.
- CFO Tonya K. Sturm's 2026 STIP target is $73,593, with a maximum potential of $110,389.
- STIP metrics for 2026 include return on average assets (ROAA), efficiency ratio, and average delinquencies as a percentage of total loans.
First United Corporation (FUNC) amended CEO Jason B. Rush's Change in Control Severance Agreement on March 11, 2026, increasing his potential cash severance multiplier from 2.0x to 2.99x of his final pay.
🚩 Red Flags
- Significant increase in potential payout to the CEO in a change-of-control scenario.
📋 Key Facts
- CEO Jason B. Rush's severance multiplier increased from 2.0x to 2.99x.
- Effective date of the Second Amended and Restated Agreement is March 11, 2026.
- The change specifically applies to severance following a Change in Control event.
- The 2.99x figure is strategically set just below the 3.0x threshold for IRS Section 280G excise taxes.
First United Corporation announced that its Board of Directors has declared a cash dividend of $0.26 per share. The dividend is payable on May 1, 2026, to shareholders of record as of April 17, 2026.
📋 Key Facts
- Cash dividend of $0.26 per share declared on March 4, 2026
- Payment date set for May 1, 2026
- Record date for shareholders is April 17, 2026
- The announcement was formalized through a press release filed as Exhibit 99.1
First United Corporation has filed an 8-K to announce its financial results for the three and twelve months ended December 31, 2025. The filing includes a press release and an investor presentation detailing the company's operational performance.
📋 Key Facts
- Report date: February 4, 2026
- Reporting period: Three and twelve-month periods ended December 31, 2025
- Included Exhibit 99.1: Press release regarding financial results
- Included Exhibit 99.2: Investor presentation discussing financial aspects
First United Corporation announced the appointment of Anthony 'AJ' Tasker as Senior Vice President and Chief Operating Officer (COO) effective January 28, 2026. Mr. Tasker is an internal promotion, having previously served as Managing Director of Operations.
🚩 Red Flags
- None identified in this filing
📋 Key Facts
- Appointment date: January 28, 2026
- New Role: Senior Vice President and Chief Operating Officer (COO) for both the Corporation and First United Bank & Trust
- Compensation: Annual base salary of $175,100 plus a 10% incentive bonus opportunity
- Bonus Structure: Tied to Return on Assets (30%), Efficiency Ratio (50%), and Loan Delinquencies (20%)
- Bonus Payment: 50% cash / 50% common stock of the Corporation
- Candidate Background: Long-term internal employee dating back to November 2008; most recent role was Managing Director of Operations
First United Corporation announced the adoption of a new stock repurchase program effective January 26, 2026. The program authorizes the company to buy back up to 1,000,000 shares over an 18-month period.
📋 Key Facts
- Repurchase Program authorized by the Board of Directors on January 26, 2026.
- Program allows for the purchase of up to 1,000,000 shares of common stock.
- The authorization represents approximately 15.4% of the issued and outstanding shares as of the report date.
- Repurchase period is set for 18 months from the effective date.
- Purchases will be conducted via open market or privately-negotiated transactions in compliance with Rule 10b-18.
First United Corporation has finalized a leadership transition effective January 1, 2026. Carissa L. Rodeheaver transitioned from CEO to Executive Chairman, while Jason B. Rush was appointed as the new President and CEO.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Effective date of management change: January 1, 2026.
- Carissa L. Rodeheaver moved from Chairman/President/CEO to Executive Chairman; duties include overseeing regulatory examinations, year-end reporting (10-K), and investor relations.
- Jason B. Rush appointed President and CEO; previously served as COO and Chief Risk Officer within the organization since 1993.
- Mr. Rush's annual base salary is set at $450,000.
First United Corporation announced a cash dividend of $0.26 per share, payable in February 2026 to shareholders of record as of January 16, 2026.
📋 Key Facts
- Dividend amount: $0.26 per share
- Record date: January 16, 2026
- Payment date: February 2, 2026
- Board of Directors declaration date: December 4, 2025
First United Corporation announced a comprehensive management succession plan following the planned retirement of Chairman, President, and CEO Carissa L. Rodeheaver at the 2026 annual meeting. The transition includes appointing Jason B. Rush as the new CEO effective January 1, 2026, while Ms. Rodeheaver will transition to Executive Chairman to serve as an advisor.
🚩 Red Flags
- Significant leadership turnover: The departure of a long-tenured CEO/Chairman can create operational or strategic uncertainty during the transition period.
📋 Key Facts
- CEO Carissa L. Rodeheaver will retire from all positions following the 2026 Annual Meeting (scheduled for May 7, 2026).
- Jason B. Rush will be appointed President and CEO effective January 1, 2026.
- The Board of Directors will increase to 11 members temporarily to elect Jason B. Rush as a director, then reduce back to 10 following the retirement.
- Bylaws were amended (Item 5.03) to allow the Board to designate a CEO other than the Chairman of the Board.
- Ms. Rodeheaver will transition to Executive Chairman to assist in the leadership transition.
First United Corporation has filed an 8-K to announce the release of its financial results for the three and nine months ended September 30, 2025. The filing includes a press release and an investor presentation.
📋 Key Facts
- Reported date: October 20, 2025
- Filing date: October 21, 2025
- Financial results released for the three-month and nine-month periods ending September 30, 2025.
- Included Exhibit 99.1: Press release regarding financial results.
- Included Exhibit 99.2: Investor presentation discussing aspects of the financial results.
First United Corporation announced a cash dividend declaration of $0.26 per share. The dividend is payable on November 3, 2025, to shareholders of record as of October 17, 2025.
📋 Key Facts
- Dividend amount: $0.26 per share
- Record date: October 17, 2025
- Payment date: November 3, 2025
- Declaration date: September 24, 2025
First United Corporation has filed an 8-K to announce its financial results for the three and six months ended June 30, 2025. The filing includes a press release and an investor presentation regarding the company's operational performance.
📋 Key Facts
- Reporting period: Three and six months ended June 30, 2025.
- Filing date: July 21, 2025.
- Included exhibits: Press release (Exhibit 99.1) and Investor presentation (Exhibit 99.2).
- The information in Item 2.02 is furnished but not filed for purposes of Section 18 of the Exchange Act.
First United Corporation announced a cash dividend of $0.22 per share. The dividend is payable on August 1, 2025, to shareholders of record as of July 18, 2025.
📋 Key Facts
- Dividend Amount: $0.22 per share
- Record Date: July 18, 2025
- Payment Date: August 1, 2025
- Declaration Date: June 18, 2025
First United Corporation announced the voting results from its 2025 annual meeting of shareholders held on May 7, 2025. The results included the election of 10 directors and the ratification of Crowe LLP as the independent auditor.
📋 Key Facts
- Annual meeting held on May 7, 2025.
- All 10 proposed directors were elected to serve until the 2026 annual meeting.
- Shareholders approved an advisory resolution regarding 2024 executive compensation (Say-on-Pay).
- Shareholders ratified the appointment of Crowe LLP as independent registered public accounting firm for fiscal year ending Dec 31, 2025.
First United Corporation filed an 8-K to provide notice of its Annual Meeting of Shareholders held on May 7, 2025. The company is furnishing a shareholder presentation containing financial data and performance trends for FY2024 and Q1 2025.
📋 Key Facts
- Annual Meeting of Shareholders held on May 7, 2025.
- Presentation includes financial data and performance trends for the year ended December 31, 2024.
- Presentation includes financial data and performance trends for the first quarter of 2025.
- The information is furnished under Item 7.01 (Regulation FD Disclosure) and is not considered 'filed' for purposes of Section 18.
First United Corporation filed an 8-K to announce its quarterly financial results for the period ending March 31, 2025. The filing includes a press release and an investor presentation regarding the company's operational performance.
📋 Key Facts
- Report date: April 21, 2025
- Reporting period: Three months ended March 31, 2025
- Included Exhibit 99.1: Press release regarding financial results
- Included Exhibit 99.2: Investor presentation discussing financial aspects
First United Corporation announced amendments to participation agreements for its Defined Benefit Supplemental Executive Retirement Plan (SERP). The amendments involve the CEO and the COO, allowing them greater flexibility in how their defined benefits are distributed.
🚩 Red Flags
- Related-party transaction: The agreement specifically benefits the top two executives (CEO and COO).
📋 Key Facts
- Date of event: March 27, 2025.
- Participants: Carissa L. Rodeheaver (Chairman, President, and CEO) and Jason B. Rush (SVP and COO).
- The amendment allows participants to change the manner of distribution of defined benefits prior to commencement.
- Changes from lump sum to annuity (or vice versa) require 12 months' notice and a minimum 5-year postponement if changing from an annuity back to a lump sum.
- Postponed lump sums will accrue interest at the applicable third segment rate under Section 417(e) of the Internal Revenue Code.
First United Corporation announced a cash dividend of $0.22 per share, payable on May 1, 2025, to shareholders of record as of April 17, 2025.
📋 Key Facts
- Dividend amount: $0.22 per share
- Record date: April 17, 2025
- Payment date: May 1, 2025
- Declaration date: March 5, 2025
First United Corporation has announced the revision of incentive goals and the granting of 2025 award opportunities under its Short-Term Incentive Plan (STIP) for several key executives.
📋 Key Facts
- The Compensation Committee revised incentive goals for the 2025 STIP on February 25, 2025.
- Award opportunities were granted to CEO Carissa L. Rodeheaver, CFO Tonya K. Sturm, and other named executive officers Robert L. Fisher, II and Jason B. Rush.
- Performance metrics for the 2025 awards include return on average assets, efficiency ratio, average delinquencies as a percentage of total loans, and individual performance criteria.
- Estimated maximum annual payouts for CEO Carissa L. Rodeheaver are $289,800; CFO Tonya K. Sturm is $110,389; Robert L. Fisher, II is $118,040; and Jason B. Rush is $121,669.
First United Corporation issued an 8-K to announce its financial results for the three and twelve months ended December 31, 2024. The filing includes a press release and an investor presentation detailing the company's operational performance.
📋 Key Facts
- Report date: February 5, 2025
- Reporting period covered: Three and twelve months ended December 31, 2024
- Included Exhibit 99.1: Press release regarding financial results
- Included Exhibit 99.2: Investor presentation discussing financial aspects
First United Corporation announced a cash dividend of $0.22 per share. The dividend is payable on February 3, 2025, to shareholders of record as of January 17, 2025.
📋 Key Facts
- Dividend amount: $0.22 per share
- Record date: January 17, 2025
- Payment date: February 3, 2025
- Declaration date: November 20, 2024
Marisa Shockley has announced her retirement from the Board of Directors of both First United Corporation and its subsidiary, First United Bank & Trust, effective December 1, 2024.
📋 Key Facts
- Marisa Shockley will retire from the Board of Directors on December 1, 2024.
- The retirement applies to both the parent company (First United Corporation) and the subsidiary bank board (First United Bank & Trust).
- The departure is due to her recent retirement from her family business and a desire to pursue personal interests.
- The filing explicitly states there was no disagreement with the Board or the Corporation regarding operations, policies, or practices.
First United Corporation has filed an 8-K to announce its financial results for the three- and nine-month periods ended September 30, 2024. The filing includes a press release and an investor presentation regarding these results.
📋 Key Facts
- Reporting period: Three-month and nine-month periods ended September 30, 2024.
- Filing date: October 21, 2024.
- Included materials: Press release (Exhibit 99.1) and Investor Presentation (Exhibit 99.2).
- The information under Item 2.02 is furnished but not 'filed' for purposes of Section 18 of the Exchange Act.
First United Corporation announced a cash dividend declaration of $0.22 per share. The dividend is payable on November 1, 2024, to shareholders of record as of October 18, 2024.
📋 Key Facts
- Dividend amount: $0.22 per share
- Record date: October 18, 2024
- Payment date: November 1, 2024
- Declaration date: September 25, 2024
First United Corporation announced the adoption of a stock repurchase program effective August 30, 2024. The program authorizes the company to buy back up to 600,000 shares of common stock over an 18-month period.
📋 Key Facts
- Repurchase Program became effective on August 30, 2024.
- Authorization for up to 600,000 shares of common stock.
- The amount represents approximately 9.3% of the issued and outstanding shares as of the report date.
- Program duration is 18 months.
- Purchases will be made via open market or privately-negotiated transactions subject to Rule 10b-18.
First United Corporation filed an 8-K to furnish its quarterly financial results and investor presentation for the periods ended June 30, 2024. The filing serves as a formal mechanism to release earnings data via press release and supplemental materials.
📋 Key Facts
- Report date: July 22, 2024
- Reporting period: Three-month and six-month periods ended June 30, 2024
- Included Exhibit 99.1: Press release regarding financial results
- Included Exhibit 99.2: Investor presentation discussing financial aspects
- The information under Item 2.02 and 7.01 is furnished, not filed.
First United Corporation announced a cash dividend declaration of $0.20 per share. The dividend is payable on August 1, 2024, to shareholders of record as of July 18, 2024.
📋 Key Facts
- Dividend amount: $0.20 per share
- Record date: July 18, 2024
- Payment date: August 1, 2024
- Declaration date: June 20, 2024
First United Corporation announced the approval of new nonequity (cash) incentive compensation awards for its named executive officers. These performance-based bonuses are tied to Return on Average Equity (ROAE) metrics relative to a peer group of 123 banks.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- The Compensation Committee approved two tranches of cash incentive awards: the 2024 ROAE Awards and the 2025 ROAE Awards.
- 2024 ROAE Awards are based on a percentage of base salary as of Dec 31, 2021; payouts depend on ROAE performance relative to a peer group (threshold at 25th percentile, target at 50th).
- 2025 ROAE Awards are based on a percentage of base salary as of Dec 31, 2022; includes a 'stretch' maximum bonus at the 75th percentile.
- Awards include provisions to reduce payouts dollar-for-dollar by the fair value of shares issuable from previously granted performance-vesting RSUs (March 2022 and March 2023 grants).
- Named executive officers included: Carissa Rodeheaver, R.L. Fisher, Jason Rush, Tonya Sturm, and Keith Sanders.
First United Corporation has revised the performance metrics for its performance-vesting Restricted Stock Units (RSUs) under its Long-Term Incentive Plan (LTIP). The new metrics are based on percentiles relative to a custom peer group of 123 banks with assets between $750 million and $4 billion.
🚩 Red Flags
- None identified in this filing.
📋 Key Facts
- Revised terms for performance-vesting RSUs as part of the annual grant process.
- Performance period ends on December 31, 2026.
- New metrics: Return on Average Equity (ROAE) and Growth in Tangible Book Value Per Share (TBVPSG).
- Metrics are measured against percentiles of a custom peer group of 123 publicly-traded banks ($750M - $4B assets).
- Payout structure ranges from 25% at the 25th percentile to 75% at the 75th percentile for both ROAE and TBVPSG.
First United Corporation reported the results of its 2024 annual meeting of shareholders held on May 9, 2024. All proposals, including director elections and auditor ratification, were approved by shareholders.
📋 Key Facts
- Annual meeting held on May 9, 2024.
- All 11 proposed directors were elected to the Board of Directors.
- Shareholders approved a reduction in the voting threshold for certain shareholder actions from two-thirds to a majority.
- Shareholders approved advisory compensation (Say-on-Pay) for named executive officers for fiscal year 2023.
- Shareholders ratified the appointment of Crowe LLP as the independent registered public accounting firm for the fiscal year ending December 31, 2024.
First United Corporation filed an 8-K to announce its Annual Meeting of Shareholders held on May 9, 2024. The company furnished a shareholder presentation containing financial data and performance trends for the fiscal year ended December 31, 2023, and Q1 2024.
📋 Key Facts
- Annual Meeting of Shareholders held on May 9, 2024.
- Presentation included financial data and performance trends for FY 2023 and Q1 2024.
- The information provided under Item 7.01 is furnished, not filed, per SEC regulations.
First United Corporation filed an 8-K to announce its quarterly financial results for the period ending March 31, 2024. The filing includes a press release and an investor presentation regarding the company's operational performance.
📋 Key Facts
- Reported financial results for the three months ended March 31, 2024 via press release (Exhibit 99.1).
- Published an investor presentation on April 24, 2024 discussing financial results (Exhibit 99.2).
- The filing was signed by Tonya K. Sturm, Senior Vice President & CFO.
First United Corporation announced a cash dividend declaration of $0.20 per share. The dividend is payable on May 1, 2024, to shareholders of record as of April 17, 2024.
📋 Key Facts
- Dividend amount: $0.20 per share
- Record date: April 17, 2024
- Payment date: May 1, 2024
- Declaration date: March 6, 2024
First United Corporation issued an 8-K to furnish its financial results and investor presentation for the three- and twelve-month periods ended December 31, 2023. The filing is a standard regulatory requirement for reporting quarterly/annual earnings.
📋 Key Facts
- Report date: February 5, 2024
- Reporting period: Three and twelve months ended December 31, 2023
- The company furnished a press release (Exhibit 99.1) regarding financial results
- The company published an investor presentation (Exhibit 99.2) via Regulation FD disclosure