First United Corporation (FUNC): ANSOFF-Matrixanalyse

In der dynamischen Landschaft des regionalen Bankwesens steht First United Corporation (FUNC) an einem entscheidenden Scheideweg der strategischen Transformation. Durch die sorgfältige Ausarbeitung einer innovativen Ansoff-Matrix ist die Bank bereit, ihren Wachstumsansatz zu revolutionieren, indem sie digitale Technologien, eine gezielte Marktexpansion und modernste Finanzlösungen nutzt, die das Community Banking in Maryland und Pennsylvania neu definieren werden. Die bevorstehende strategische Roadmap offenbart eine kühne Vision von kundenorientierter Innovation, technologischem Fortschritt und kalkulierter Risikobereitschaft, die möglicherweise das Finanzdienstleistungsökosystem in der mittelatlantischen Region neu gestalten könnte.

First United Corporation (FUNC) – Ansoff-Matrix: Marktdurchdringung

Erweitern Sie digitale Bankdienstleistungen

First United Corporation meldete im Jahr 2022 42.573 aktive Digital-Banking-Nutzer, was einem Anstieg von 17,3 % gegenüber dem Vorjahr entspricht. Die Bank investierte im Geschäftsjahr 3,2 Millionen US-Dollar in die Modernisierung der digitalen Infrastruktur.

Kennzahlen zum digitalen Banking	Daten für 2022	Veränderung im Jahresvergleich
Aktive digitale Nutzer	42,573	+17.3%
Investitionen in digitales Banking	3,2 Millionen US-Dollar	+22.5%
Mobile Banking-Transaktionen	1,4 Millionen	+25.6%

Gezielte Marketingkampagnen

Die Marketingausgaben erreichten im Jahr 2022 1,87 Millionen US-Dollar und zielten auf die Regionen Maryland, Pennsylvania und West Virginia ab. Die Kosten für die Kundenakquise betrugen 247 US-Dollar pro Neukunde.

• Marketingbudget: 1,87 Millionen US-Dollar
• Zielregionen: Maryland, Pennsylvania, West Virginia
• Kundenakquisekosten: 247 $

Wettbewerbsfähige Zinssätze

First United bot im Jahr 2022 Sparkontenzinsen von 3,75 % APY und Privatkreditzinsen ab 6,25 % an, verglichen mit dem regionalen Durchschnitt von 3,40 % bzw. 7,15 %.

Produkt	FUNC-Rate	Regionaler Durchschnitt
Sparkonto APY	3.75%	3.40%
Zinssatz für Privatkredite	6.25%	7.15%

Verbesserung des mobilen und Online-Bankings

Die Mobile-Banking-Plattform verzeichnete im Jahr 2022 1,4 Millionen Transaktionen mit einer Benutzerzufriedenheitsbewertung von 92 %. Kosten für Plattform-Upgrade: 1,1 Millionen US-Dollar.

Cross-Selling von Finanzprodukten

Die Cross-Selling-Erfolgsquote erreichte im Jahr 2022 28,4 % und generierte einen zusätzlichen Umsatz von 4,3 Millionen US-Dollar. Die durchschnittliche Anzahl der Produkte pro Kunde stieg von 2,1 auf 2,5.

Cross-Selling-Kennzahlen	Wert 2022	Vorheriges Jahr
Erfolgsquote	28.4%	24.6%
Zusätzliche Einnahmen	4,3 Millionen US-Dollar	3,7 Millionen US-Dollar
Produkte pro Kunde	2.5	2.1

First United Corporation (FUNC) – Ansoff-Matrix: Marktentwicklung

Expansion in angrenzende Landkreise und Ballungsräume

First United Corporation ist derzeit in 5 Landkreisen in Maryland und Pennsylvania tätig und verfügt im vierten Quartal 2022 über insgesamt 42 Bankstandorte. Der strategische Expansionsplan der Bank zielt auf weitere 8–10 Landkreise in diesen beiden Bundesstaaten ab.

Region	Aktuelle Landkreise	Zielbezirke	Potenzielle neue Niederlassungen
Maryland	3	5	12-15
Pennsylvania	2	3-5	8-10

Ausrichtung auf unterversorgte Kleinunternehmens- und Geschäftsbanksegmente

Die Kreditvergabe an Kleinunternehmen macht 22 % des aktuellen Kreditportfolios von FUNC aus, mit dem Ziel, diesen Anteil bis 2025 auf 35 % zu erhöhen. Das Geschäftsbanksegment erwirtschaftet derzeit einen Jahresumsatz von 47,3 Millionen US-Dollar.

• Kreditportfolio für Kleinunternehmen: 156,2 Millionen US-Dollar
• Durchschnittliche gewerbliche Kredithöhe: 375.000 $
• Zielmarktdurchdringung: Kleine bis mittlere Unternehmen mit einem Jahresumsatz von 1 bis 10 Millionen US-Dollar

Spezialisierte Bankdienstleistungen für den professionellen Sektor

FUNC plant die Entwicklung gezielter Banklösungen für die Gesundheits- und Technologiesektoren, die 18 % der regionalen Wirtschaftslandschaft ausmachen.

Sektor	Potenzielle Kunden	Prognostizierter Umsatz
Gesundheitswesen	127 Arztpraxen	12,6 Millionen US-Dollar
Technologie	89 Technologieunternehmen	8,9 Millionen US-Dollar

Strategische Partnerschaften mit lokalen Unternehmensnetzwerken

First United Corporation unterhält derzeit Partnerschaften mit 12 lokalen Handelskammern in Maryland und Pennsylvania und vertritt über 3.400 Geschäftsmitglieder.

Mögliche Übernahme von Gemeinschaftsbanken

Die Bank hat sieben potenzielle Übernahmeziele für Gemeinschaftsbanken mit einem Gesamtvermögen von etwa 340 Millionen US-Dollar identifiziert. Geschätztes Akquisitionsbudget: 52–68 Millionen US-Dollar.

• Potenzielle Akquisitionsziele insgesamt: 7 Banken
• Kombiniertes Zielvermögen: 340 Millionen US-Dollar
• Geschätztes Akquisitionsbudget: 52–68 Millionen US-Dollar

First United Corporation (FUNC) – Ansoff-Matrix: Produktentwicklung

Führen Sie innovative digitale Kreditplattformen mit optimierten Antragsprozessen ein

Im Jahr 2022 investierte First United Corporation 3,2 Millionen US-Dollar in die Infrastruktur für digitale Kredittechnologie. Die digitale Kreditplattform verarbeitete 47.893 Kreditanträge mit einer Online-Abschlussquote von 62 %. Die durchschnittliche Kreditbearbeitungszeit wurde durch die digitale Transformation von 5 Tagen auf 1,8 Tage reduziert.

Kennzahlen zur digitalen Kreditvergabe	Leistung 2022
Gesamtzahl der digitalen Kreditanträge	47,893
Online-Abschlussrate	62%
Durchschnittliche Bearbeitungszeit	1,8 Tage

Entwickeln Sie maßgeschneiderte Vermögensverwaltungs- und Anlageberatungsdienste

Die Vermögensverwaltungsabteilung erwirtschaftete einen Umsatz von 22,6 Millionen US-Dollar, wobei im Jahr 2022 3.215 neue vermögende Kunden gewonnen wurden. Die Anlageberatungsdienstleistungen wurden um erweitert KI-gesteuerte Portfoliooptimierung Werkzeuge.

• Einnahmen aus der Vermögensverwaltung: 22,6 Millionen US-Dollar
• Neue vermögende Kunden: 3.215
• Durchschnittliche Portfoliogröße: 1,4 Millionen US-Dollar

Erstellen Sie spezialisierte Finanzprodukte für aufstrebende Marktsegmente

Einführung von 7 neuen Finanzprodukten für junge Berufstätige, die im ersten Jahr einen Umsatz von 8,3 Millionen US-Dollar generierten. Die Kundenakquise der Millennials und der Generation Z stieg durch gezielte Produktangebote um 41 %.

Produktsegment	Einnahmen	Kundenwachstum
Junge professionelle Produkte	8,3 Millionen US-Dollar	41%

Führen Sie erweiterte Cybersicherheitsfunktionen für digitale Banking-Plattformen ein

Die Investitionen in Cybersicherheit beliefen sich im Jahr 2022 auf insgesamt 4,7 Millionen US-Dollar. Implementierung der Multi-Faktor-Authentifizierung für 98 % der Digital-Banking-Benutzer, wodurch Betrugsvorfälle um 67 % reduziert wurden.

• Investition in Cybersicherheit: 4,7 Millionen US-Dollar
• Abdeckung der Multi-Faktor-Authentifizierung: 98 %
• Betrugsreduzierung: 67 %

Entwerfen Sie flexible Finanzlösungen für kleine und mittlere Unternehmen

Entwicklung von 12 neuen KMU-Finanzprodukten mit einem Gesamtkreditvolumen von 156,4 Millionen US-Dollar. Durchschnittliche Kredithöhe für kleine Unternehmen: 287.000 $.

Finanzlösungen für KMU	Leistung 2022
Neue KMU-Produkte	12
Gesamtkreditvolumen	156,4 Millionen US-Dollar
Durchschnittliche Kredithöhe	$287,000

First United Corporation (FUNC) – Ansoff-Matrix: Diversifikation

Entdecken Sie potenzielle Fintech-Partnerschaften

First United Corporation stellte im Jahr 2022 2,3 Millionen US-Dollar für die Entwicklung von Fintech-Partnerschaften bereit. Das aktuelle Technologie-Investitionsportfolio beläuft sich auf 7,5 Millionen US-Dollar, mit einem prognostizierten jährlichen Wachstum von 18 % bei Investitionen in digitale Innovationen.

Kennzahlen für Fintech-Partnerschaften	Daten für 2022	2023 Geplant
Partnerschaftliche Investition	2,3 Millionen US-Dollar	3,1 Millionen US-Dollar
Budget für Technologieintegration	7,5 Millionen Dollar	8,9 Millionen US-Dollar

Strategische Investitionen in Finanzdienstleistungstechnologien

FUNC identifizierte vier wichtige neue Technologien für strategische Investitionen: Blockchain, KI-gesteuerte Analysen, Cybersicherheitslösungen und cloudbasierte Bankplattformen.

• Blockchain-Investition: 1,2 Millionen US-Dollar
• Investition in KI-Analyse: 1,5 Millionen US-Dollar
• Cybersicherheitslösungen: 890.000 US-Dollar
• Cloud-Banking-Plattformen: 1,1 Millionen US-Dollar

Alternative Einnahmequellen durch Finanzberatung

Das Finanzberatungssegment erwirtschaftete im Jahr 2022 einen Umsatz von 4,7 Millionen US-Dollar, mit einem prognostizierten Wachstum von 22 % für 2023.

Beratungseinnahmen	2022 aktuell	2023 Geplant
Gesamtumsatz	4,7 Millionen US-Dollar	5,7 Millionen US-Dollar

Erweiterung des Versicherungsproduktangebots

FUNC plant, 3,4 Millionen US-Dollar in die Entwicklung neuer Versicherungsproduktlinien zu investieren, die sich an kleine und mittlere Unternehmen richten.

Strategische Investmentfonds für regionale Chancen

Die Zuweisung regionaler Investmentfonds erreichte im Jahr 2022 6,2 Millionen US-Dollar und zielt auf aufstrebende Unternehmenssektoren in der Mittelatlantikregion ab.

Details zum Investmentfonds	Zuteilung 2022	Zielsektoren
Gesamtinvestition	6,2 Millionen US-Dollar	Technologie, Gesundheitswesen, grüne Energie

First United Corporation (FUNC) - Ansoff Matrix: Market Penetration

You're looking at how First United Corporation (FUNC) can drive more revenue from its existing customer base and markets-that's market penetration, the safest move on the Ansoff Matrix.

For commercial loan production, the goal is aggressive growth within established client relationships. You're targeting a 15% increase over the stated $139.0 million YTD 2025 total. Here's the quick math: that means the new year-to-date production target, if you hit this goal, lands at $159.85 million. Remember, Q3 2025 saw $29.8 million in commercial loan originations, and H1 2025 saw $36.1 million in Q1 and $65.1 million in Q2. What this estimate hides is the impact of the CEO transition announced in November 2025; execution consistency is key.

To fund this growth and attract more core deposits, you need to make your funding offers compelling. The strategy here is to launch a deposit campaign that directly addresses the cost of funds. You already brought in $50.0 million in brokered time deposits in January 2025 at an average rate of 4.24%. The campaign should offer a 50 basis point premium over that figure. So, you're looking to price new brokered deposits at an effective rate of 4.74% APY, which is a clear, actionable number for the treasury team.

Deepening relationships means boosting non-interest income, which is crucial for margin stability. The Wealth Management division, which holds $1.7 billion in assets under supervision as of Q1 2025, needs a push. The action is to increase the cross-sell ratio of Wealth Management services to existing banking clients by 10%. This directly supports the non-interest income stream that saw a drop from $18.1 million in 2022 to $14.5 million in 2023. The goal is to move that ratio up, translating directly to higher fee income.

You can also drive penetration within the existing loan book by offering incentives to convert Home Equity Lines of Credit (HELOCs) into fixed-rate mortgages. This helps lock in predictable interest income, especially since $54.8 million of your variable-rate loan portfolio was set to reprice in 2025, out of a total variable portfolio of $632.9 million at the end of Q1 2025. The incentive structure needs to be aggressive enough to overcome borrower inertia.

Finally, the relationship-oriented banking model must be leveraged to deepen ties with small businesses in your core footprint. First United Bank & Trust serves business owners in Maryland, West Virginia, Pennsylvania and Virginia. Given that the bank is headquartered in Oakland, Maryland, and has finance subsidiaries in West Virginia, focusing resources there makes sense. This strategy relies on your team's ability to be small enough to know the client but large enough to deliver solutions.

Metric	Baseline/Reference Figure (2025 Data)	Market Penetration Target
Commercial Loan Production YTD	$139.0 million (Stated YTD 2025 Total)	$159.85 million (15% increase)
Brokered Deposit Rate Baseline	4.24% (Average rate on Jan 2025 deposits)	4.74% (Target APY with 50 bps premium)
Wealth Management Assets	$1.7 billion (Assets Under Supervision Q1 2025)	10% increase in cross-sell ratio
Variable Rate Loans Repricing in 2025	$54.8 million	Incentivize conversion to fixed-rate mortgages

To execute this, you need clear tracking on the cross-sell initiative.

• Track the number of existing banking clients who adopt a Wealth Management product.
• Monitor the dollar volume of HELOCs converted to fixed-rate products monthly.
• Measure the growth in new small business accounts originating from Maryland and West Virginia branches.
• Report on the average yield achieved on new brokered deposits versus the 4.24% benchmark.

Finance: draft the 13-week cash view incorporating the potential cost of the deposit campaign by Friday.

First United Corporation (FUNC) - Ansoff Matrix: Market Development

You're looking at how First United Corporation can push its existing banking and service model into new geographic areas or new customer segments within its current footprint. This is about taking what works-like the 3.69% net interest margin achieved in the third quarter of 2025-and applying it elsewhere.

The foundation is solid, with total assets reported at $2.0 billion as of June 30, 2025. The first nine months of 2025 delivered net income of $18.7 million, showing the core business is generating capital for this type of expansion. Honestly, the execution of this strategy hinges on how well you can replicate the success seen in your established markets.

Here's a look at the current financial context:

Financial Metric (as of latest report)	Value	Date/Period
Total Assets	$2.0 billion	June 30, 2025
Net Income (9 Months)	$18.7 million	Ended September 30, 2025
Net Interest Margin (FTE)	3.69%	Q3 2025
Total Deposits Increase (YTD)	$104.1 million	Since December 31, 2024 (to Sept 30, 2025)

The Market Development thrust focuses on concrete, geographically-driven actions:

• Expand digital-only banking services into two new contiguous US states, like Ohio or North Carolina.
• Open a second physical loan production office in the Morgantown, WV market to capitalize on the team expansion already underway.
• Target government entities in current states (MD, WV, PA, VA) with specialized Treasury Management services.
• Acquire a small, community-focused bank in a new county within the current operating footprint to add $100 million in deposits.
• Market the existing low-income housing development expertise to new regional partners for fee-based consulting.

Let's look closer at the physical expansion in West Virginia. The commitment to North Central West Virginia is clear, with the relocation of the Star City branch to the WestRidge development off Interstate 79, expected to be completed by December 2025. This move is framed as a growth strategy, not just a relocation, supporting the team expansion already in place, which includes recent leadership appointments in the North Central West Virginia and Southwestern Pennsylvania region.

For the government entity targeting, the existing footprint covers specific counties: in Maryland, Garrett, Allegany, Washington, and Frederick counties, and in West Virginia, Mineral, Berkeley, and Monongalia counties, plus the Southwestern Pennsylvania region. The Treasury Management services, a core business offering, can be pushed into these governmental segments.

Regarding the low-income housing expertise, the Bank already supports affordable housing initiatives, for example, by offering lender incentives for Federal Housing Administration (FHA) home loans for buyers in under-served or Majority Minority Census Tracts. While specific fee-based consulting revenue is not published, the Bank has shown involvement in community development partnerships, such as a grant awarded to a housing development organization. The goal here is to monetize this established expertise externally.

The acquisition target for $100 million in deposits would represent a significant, immediate boost to the current deposit base, which grew by $104.1 million in the first nine months of 2025. Finance: draft a target acquisition profile by end of Q1 2026.

First United Corporation (FUNC) - Ansoff Matrix: Product Development

You're looking at how First United Corporation can grow by introducing new products, which is the Product Development quadrant of the Ansoff Matrix. This means we're taking our existing market-our current customer base in Maryland, West Virginia, Pennsylvania, and Virginia-and offering them something new to buy or use.

One immediate action is to capitalize on recent deposit momentum. Savings and money market accounts grew by $42.0 million over the first nine months of 2025. To capture more of that flow, we should launch a new, high-yield, tiered money market account. This product needs to be aggressively priced to pull balances away from competitors, especially given the strong net interest margin of 3.69% First United Corporation posted in Q3 2025.

For our business clients, we need a digital leap. Developing a proprietary FinTech platform specifically for small business lending, offering instant approvals up to $50,000, addresses the need for speed. This is a direct product enhancement to our commercial banking services. Consider the recent production: commercial loan originations hit $29.8 million in Q3 2025. A faster digital process could increase that volume by reducing client friction.

To tap into younger demographics and build long-term loyalty, launching a co-branded credit card with a local university makes sense. This targets the student and alumni market directly. It's a way to embed First United Corporation early in their financial lives. We should structure the card benefits to align with the company's focus on shareholder value, which saw the book value per share rise to $30.65 by September 30, 2025.

Enhancing the core customer experience is key, even for existing products. We need to integrate the Finture financial education platform into all new checking account onboarding. The CEO noted in Q1 2025 that the bank intended to invest in enhanced technology, and this directly supports that goal by adding value at the point of acquisition. It helps customers feel more secure with their new relationship.

Finally, addressing the growing environmental focus is a clear product opportunity. Creating a specialized 'Green Loan' product for residential solar and energy efficiency improvements taps into a specific, values-driven segment of the mortgage market. This complements the $20.8 million in residential mortgage originations seen in Q3 2025 by offering a differentiated, purpose-driven loan structure.

Here's a quick look at how these new products align with recent performance metrics:

Product Initiative	Relevant 2025 Metric	Metric Value
Tiered Money Market Account	Savings & Money Market Increase (9M 2025)	$42.0 million
Proprietary Small Business Lending Platform	Q3 2025 Commercial Loan Originations	$29.8 million
Co-Branded University Credit Card	Book Value Per Share (9/30/2025)	$30.65
Finture Integration	Q3 2025 Net Income	$6.9 million
'Green Loan' Product	Q3 2025 Residential Mortgage Originations	$20.8 million

These product developments are designed to drive deeper engagement across our existing customer base. The focus is on adding tangible value through better rates, speed, education, and specialized financing options. We should map the expected adoption rates against the current deposit and loan production figures to set initial targets. For example, we could aim for the Green Loan to account for 5% of new residential originations in the first full quarter post-launch.

The key actions for this strategy involve specific product design and technology integration:

• Finalize tiered rate structure for the new money market account by December 15, 2025.
• Establish the instant approval threshold for the FinTech platform at $50,000.
• Secure partnership agreement terms with the local university by January 31, 2026.
• Ensure Finture platform is live for all new checking sign-ups starting February 1, 2026.
• Develop underwriting guidelines for the Green Loan product by December 31, 2025.

If the technology rollout for the small business platform takes longer than expected, say 14+ days for full integration, churn risk rises with existing commercial clients. Finance: draft the projected cost of the Finture integration by next Tuesday.

First United Corporation (FUNC) - Ansoff Matrix: Diversification

You're looking at the next phase of growth for First United Corporation (FUNC), moving beyond core lending and into new markets and services. This diversification strategy, the most aggressive quadrant of the Ansoff Matrix, requires capital deployment outside the current geographic footprint of Maryland, West Virginia, Pennsylvania, and Virginia. We need to anchor these moves to what the bank is actually achieving right now. For the first nine months of 2025, First United Corporation posted net income of $18.7 million, with an annualized Return on Average Assets of 1.24% and a Return on Average Equity of 13.23% as of September 30, 2025. The balance sheet held total assets of $2 billion at that point.

Here's a look at the current performance metrics that will fund, or be benchmarked against, these new ventures:

Metric	Value (Q3 2025 or YTD 2025)	Source Context
Net Income (9M 2025)	$18.7 million	First United Corporation YTD 2025 performance.
Total Assets (Sept 30, 2025)	$2.0 billion	First United Corporation balance sheet size.
Net Interest Margin (Q3 2025 FTE)	3.69%	Indicates core lending profitability.
CRE Investment Firm Setup Cost (Proxy)	$75,000 to $150,000	Estimated non-investment operating startup cost for a new firm.
Specialty P&C Insurance Market CAGR (to 2030)	5.61%	Projected growth for specialty lines in the US P&C market.
Appalachian Impact Fund Size (Final Close)	$35.5 million	Total commitments for a regional private equity-style fund.

The diversification plan involves five distinct, non-bank subsidiary or partnership moves:

• Establish a separate, non-bank subsidiary focused on acquiring and managing commercial real estate (CRE) properties outside the current lending footprint.
• Partner with a national insurance carrier to offer specialized commercial property and casualty insurance products beyond current offerings.
• Invest in a minority stake in a regional financial technology (FinTech) startup focused on blockchain-based trade finance.
• Form a private equity fund to invest in local businesses in the Appalachian region, leveraging community ties.
• Acquire a small, independent Trust Services firm in a non-contiguous state like Florida to expand the wealth management client base.

CRE Subsidiary Expansion

Setting up a dedicated CRE acquisition and management subsidiary means targeting assets beyond the immediate service area of Maryland, West Virginia, Pennsylvania, and Virginia. While the initial operational setup for a new investment firm might range from $75,000 to $150,000 for legal, data subscriptions like CoStar, and administrative costs, the real capital need is for property acquisition. For instance, acquiring a single commercial property valued at $15 million would require a down payment alone of approximately $3.75 million to $5.25 million, assuming a 25% to 35% loan-to-value requirement. This subsidiary would operate in a national market where specialty lines related to property are growing, with US specialty P&C lines projected to expand at a 5.61% compound annual growth rate through 2030.

Specialized Commercial Insurance Partnership

Partnering with a national carrier to offer specialized commercial property and casualty (P&C) insurance taps into a massive market. The US P&C insurance market was valued at $1.10 trillion in 2025. This move is about offering niche products-think cyber, marine, or surety-that First United Bank & Trust currently doesn't originate. The goal is to capture fee income from policies sold to businesses that may not be current bank clients, but the partnership structure should allow for cross-selling opportunities back to the existing client base in the four core states. The North American P&C market held a 32% share in 2024.

FinTech Minority Investment

Investing in a regional FinTech focused on blockchain-based trade finance is a play on future transaction volume. You're not buying a controlling share, so the capital outlay is smaller than an acquisition. While specific deal sizes for FUNC are unknown, a recent example of a minority stake sale in a similar firm involved a 20% stake for $200 million in a company valued at $1 billion. For a smaller, regional startup, the investment could be closer to an early-stage VC round, such as $2 million. This is a technology bet, aiming to gain insight into distributed ledger technology that could eventually streamline First United Bank & Trust's own back-office processes or create new fee-based services.

Appalachian Private Equity Fund

Forming a private equity fund focused on local Appalachian businesses leverages the bank's community ties in West Virginia and Pennsylvania, but expands the investment thesis to include businesses in the broader region where the poverty rate is 12% higher than the national average. This is about deploying capital for economic development and potential outsized returns. A comparable regional impact fund, Invest Appalachia, successfully closed with $35.5 million in total investor commitments, showing a viable capital pool exists for this type of mission-aligned investment. This fund would likely target investments in the $1 million to $5 million range to make a meaningful impact on local ownership and job creation.

Trust Services Firm Acquisition

Acquiring an independent Trust Services firm in a non-contiguous state like Florida directly targets wealth management client base expansion. First United Corporation's wealth management income increased by $0.1 million in the first quarter of 2025, showing current momentum. A small, independent firm might have Assets Under Management (AUM) in the range of $100 million to $500 million. Valuations for trust firms often trade at a multiple of annual revenue or a percentage of AUM, perhaps 1.0x to 1.5x annual revenue or 1% to 3% of AUM. If the target generates $3 million in annual revenue, the acquisition cost could be between $3.0 million and $4.5 million. This move diversifies the geographic source of fee income away from the current four-state footprint.

Finance: draft the capital allocation plan for these five initiatives by next Tuesday.