FIRST UNITED CORP/MD/

FUNC · National Commercial Banks · 6.4M shares · -2%/yr ↓ buyback · EDGAR filings ↗

Net buyback after stock comp: $4M (gross $4M, SBC $483K)

Reference price $38.10 · est. market cap ~$246M — last insider purchase, 2026-05-01 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)

Grade

B70

First United (MD) — community bank with above-median ROE.

Strengths

ROE 12% (79th pct)
Net income +19%

Risks

Weak free cash flow (15th pct)
Higher leverage (69th)
Regional concentration

Notable findings

Exec changeRecent 8-K item 5.02 8-K ↗
Strong balance sheetStrong balance sheet — $132M cash & investments
Insider buyingInsider buying — 10 open-market buy(s) by 4 insider(s) (cluster of 4 insiders, last 6mo) Form 4 ↗

Quarterly revenue

2022-03-31 · $4M2022-06-30 · $4M2022-09-30 · $4M2022-12-31 · $4M

Last 4 quarters · from SEC filings.

Key metrics

Net margin

133.0%

Return on equity

12.0%

Return on assets

1.2%

Revenue growth (QoQ)

-1.0%

Net-income growth

19.2%

Debt / equity

0.5×

Free cash flow

$15M

Tangible book value

$192M

Cash & investments

$132M

Stock comp / revenue

4.1%

Insider transactions · last 18 months

Date	Insider	Type	Shares	Price
2026-05-27	Hessler Kevin	Grant	1.4K	—
2026-05-27	Barr John F.	Grant	1.0K	—
2026-05-27	Milon Patricia	Grant	1.0K	—
2026-05-27	DiPietro Christy	Grant	1.4K	—
2026-05-27	Chadha Sanu	Grant	1.3K	—
2026-05-27	Walls H Andrew III	Grant	1.0K	—
2026-05-27	RUDY IRVIN ROBERT	Grant	1.0K	—
2026-05-27	Moran Beth	Grant	1.0K	—
2026-05-27	Boal Brian R.	Grant	1.4K	—
2026-05-20	Sturm Tonya K.	Tax withheld	133	$36.88
2026-05-20	Sanders Keith	Tax withheld	120	$36.88
2026-05-20	Fisher Robert L. II	Tax withheld	146	$36.88
2026-05-01	Sturm Tonya K.	Buy	3	$38.10
2026-05-01	Boal Brian R.	Buy	78	$38.10
2026-05-01	Rush Jason Barry	Buy	76	$38.10
2026-05-01	Rodeheaver Carissa Lynn	Buy	44	$37.70
2026-05-01	Rodeheaver Carissa Lynn	Buy	123	$38.10
2026-03-16	Fisher Robert L. II	Grant	526	—
2026-03-16	Fisher Robert L. II	Tax withheld	178	$35.99
2026-03-16	Sturm Tonya K.	Grant	428	—
2026-03-16	Sturm Tonya K.	Tax withheld	144	$35.99
2026-03-16	Sanders Keith	Grant	420	—
2026-03-16	Sanders Keith	Tax withheld	141	$35.99
2026-03-16	Rush Jason Barry	Grant	502	—
2026-03-16	Rodeheaver Carissa Lynn	Grant	766	—
2026-03-16	Rodeheaver Carissa Lynn	Tax withheld	311	$35.99
2026-03-06	Tasker Anthony James	Grant	465	—
2026-03-06	Peterson Julie W	Grant	651	—
2026-03-06	Fisher Robert L. II	Grant	875	—
2026-03-06	Sturm Tonya K.	Grant	819	—
2026-03-06	Sanders Keith	Grant	735	—
2026-03-06	Rush Jason Barry	Grant	1.3K	—
2026-03-06	Tasker Anthony James	Grant	189	—
2026-02-25	Fisher Robert L. II	Tax withheld	106	$35.42
2026-02-25	Sturm Tonya K.	Tax withheld	89	$35.42
2026-02-25	Sanders Keith	Tax withheld	88	$35.42
2026-02-25	Rodeheaver Carissa Lynn	Tax withheld	164	$35.42
2026-02-04	Tasker Anthony James	Sell	1	$39.15
2026-02-03	Sturm Tonya K.	Buy	3	$39.68
2026-02-03	Boal Brian R.	Buy	75	$39.68
2026-02-03	Rush Jason Barry	Buy	73	$39.68
2026-02-03	Rodeheaver Carissa Lynn	Buy	42	$39.60
2026-02-03	Rodeheaver Carissa Lynn	Buy	117	$39.68
2025-11-03	Sturm Tonya K.	Buy	64	$35.15
2025-11-03	Boal Brian R.	Buy	84	$35.15
2025-11-03	Rush Jason Barry	Buy	81	$35.15
2025-11-03	Rodeheaver Carissa Lynn	Buy	46	$35.42
2025-11-03	Rodeheaver Carissa Lynn	Buy	132	$35.15
2025-08-26	RUDY IRVIN ROBERT	Sell	2.0K	$37.35
2025-08-04	Rodeheaver Carissa Lynn	Buy	120	$32.28
2025-08-04	Rush Jason Barry	Buy	74	$32.28
2025-08-04	Boal Brian R.	Buy	77	$32.28
2025-08-01	Rodeheaver Carissa Lynn	Buy	38	$35.92
2025-05-21	RUDY IRVIN ROBERT	Grant	1.0K	—
2025-05-21	Moran Beth	Grant	1.0K	—
2025-05-21	Milon Patricia	Grant	1.0K	—
2025-05-21	DiPietro Christy	Grant	1.5K	—
2025-05-21	Chadha Sanu	Grant	1.3K	—
2025-05-21	Boal Brian R.	Grant	1.5K	—
2025-05-21	Barr John F.	Grant	1.5K	—
2025-05-21	Hessler Kevin	Grant	1.5K	—
2025-05-21	Walls H Andrew III	Grant	1.5K	—
2025-05-20	Rodeheaver Carissa Lynn	Tax withheld	302	$31.21
2025-05-20	Sturm Tonya K.	Tax withheld	118	$31.21
2025-05-20	Fisher Robert L. II	Tax withheld	167	$31.21
2025-05-20	Sanders Keith	Tax withheld	117	$31.21
2025-05-02	Boal Brian R.	Buy	70	$30.58
2025-05-02	Rush Jason Barry	Buy	78	$30.58
2025-05-01	Rodeheaver Carissa Lynn	Buy	46	$29.98
2025-05-01	Rodeheaver Carissa Lynn	Buy	126	$30.58
2025-03-18	Peterson Julie W	Buy	3	$30.65
2025-03-17	Rodeheaver Carissa Lynn	Grant	764	—
2025-03-17	Sturm Tonya K.	Grant	427	—
2025-03-17	Sturm Tonya K.	Tax withheld	163	$30.10
2025-03-17	Fisher Robert L. II	Grant	526	—
2025-03-17	Fisher Robert L. II	Tax withheld	173	$30.10
2025-03-17	Rush Jason Barry	Grant	502	—
2025-03-17	Rodeheaver Carissa Lynn	Tax withheld	360	$30.10
2025-03-17	Sanders Keith	Grant	420	—
2025-03-17	Sanders Keith	Tax withheld	139	$30.10
2025-03-10	Sturm Tonya K.	Tax withheld	125	$32.41
2025-03-10	Rush Jason Barry	Grant	392	—
2025-03-10	Rodeheaver Carissa Lynn	Grant	619	—
2025-03-10	Sanders Keith	Grant	314	—
2025-03-10	Sanders Keith	Tax withheld	120	$32.41
2025-03-10	Fisher Robert L. II	Grant	428	—
2025-03-10	Fisher Robert L. II	Tax withheld	165	$32.41
2025-03-10	Sturm Tonya K.	Grant	327	—
2025-03-07	Peterson Julie W	Grant	200	—
2025-02-25	Sturm Tonya K.	Grant	680	—
2025-02-25	Rush Jason Barry	Grant	822	—
2025-02-25	Sanders Keith	Grant	676	—
2025-02-25	Peterson Julie W	Grant	598	—
2025-02-25	Fisher Robert L. II	Grant	812	—
2025-02-25	Rodeheaver Carissa Lynn	Grant	1.2K	—
2025-02-19	Peterson Julie W	Buy	2	$41.33
2025-02-03	Rodeheaver Carissa Lynn	Buy	118	$32.36
2025-02-03	Rush Jason Barry	Buy	73	$32.36
2025-02-03	Rodeheaver Carissa Lynn	Buy	42	$32.16
2025-02-03	Boal Brian R.	Buy	66	$32.36
2025-01-16	Peterson Julie W	Buy	3	$32.75

All non-derivative Form 4 activity (SEC), newest first.

Supply chain

Customers (0)

Suppliers (4)

Cetera Investment Services, LLC
Federal Deposit Insurance Corporation (FDIC)
Federal Home Loan Bank (FHLB)
Federal Reserve (Discount Window)

Named in the 10-K; linked when we track them.

Notable events (8-K)

Date	Items
2026-06-22	OtherExhibits	filing ↗
2026-05-28	Shareholder voteExhibits	filing ↗
2026-05-28	Exec/director changeExhibits	filing ↗
2026-05-11	Shareholder vote	filing ↗
2026-05-07	Reg FDExhibits	filing ↗
2026-04-21	ResultsReg FDExhibits	filing ↗
2026-03-12	Exec/director changeExhibits	filing ↗
2026-03-11	Exec/director changeExhibits	filing ↗

Recent filings

Form	Filed	Period	Accession
8-K	2026-06-22	2026-06-17	0001104659-26-075931 ↗
8-K/A	2026-05-28	2026-05-07	0001104659-26-067492 ↗
8-K	2026-05-28	2026-05-27	0001104659-26-067504 ↗
8-K	2026-05-11	2026-05-07	0001104659-26-058654 ↗
10-Q	2026-05-08	2026-03-31	0001104659-26-057909 ↗
8-K	2026-05-07	2026-05-07	0001104659-26-056785 ↗
8-K	2026-04-21	2026-04-20	0001104659-26-045633 ↗
8-K	2026-03-12	2026-03-06	0001104659-26-027140 ↗
8-K	2026-03-11	2026-03-11	0001104659-26-026453 ↗
10-K	2026-03-10	2025-12-31	0001104659-26-025836 ↗
8-K	2026-03-06	2026-03-04	0001104659-26-024488 ↗
8-K	2026-02-04	2026-02-04	0001104659-26-010367 ↗