FIRST UNITED CORPORATION ANNOUNCES THIRD QUARTER 2025 FINANCIAL RESULTS
Financial Performance: First United Corporation reported a net income of $6.9 million for Q3 2025, an increase from $5.8 million in Q3 2024, driven by higher net interest income and effective expense management. The net income for the first nine months of 2025 was $18.7 million, up from $14.4 million in the same period last year.
Loan and Deposit Growth: The bank experienced strong loan production with $29.8 million in commercial loan originations and $20.8 million in residential mortgage originations during Q3 2025. Total deposits increased by $104.1 million since December 31, 2024, primarily due to new brokered time deposits and growth in savings and money market accounts.
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First United Corporation Declares $0.26 Cash Dividend Payable February 2, 2026
- Dividend Announcement: First United Corporation has declared a cash dividend of $0.26 per share, payable on February 2, 2026, aimed at rewarding shareholders and enhancing investor confidence.
- Record Date for Shareholders: The record date for this dividend is January 16, 2026, ensuring that investors holding shares by this date will receive the dividend, thereby strengthening the relationship between the company and its shareholders.
- Company Background: First United Corporation serves as the parent company of First United Bank & Trust, which provides commercial banking services in Maryland and operates several financial subsidiaries, highlighting its significant role in the local economy.
- Low-Income Housing Investment: The company is involved in the development and operation of low-income housing through its subsidiaries, indicating a commitment to social responsibility and community development, which may enhance its brand image and attract more investor interest.
First United Corporation Reveals Upcoming Retirement of Chairman, President, and CEO Carissa L. Rodeheaver
Retirement Announcement: Carissa L. Rodeheaver, Chairman, President, and CEO of First United Corporation, will retire after the 2026 annual meeting, transitioning to Executive Chairman until her retirement in May 2026.
Leadership Achievements: Under Rodeheaver's leadership since 2016, First United experienced significant growth, record financial performance, and enhanced its reputation through community-focused initiatives and digital transformation.
Succession Plan: Jason B. Rush, currently Senior Vice President & COO, will succeed Rodeheaver as President and CEO effective January 1, 2026, following a planned succession strategy.
Future Plans: After retirement, Rodeheaver will provide advisory support for a smooth transition while focusing on personal interests such as family and travel.
