Primera Corporación Unida (FUNC): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

Sumérgete en el plan estratégico de First United Corporation (FUNC), una potencia bancaria regional que navega magistralmente del complejo panorama financiero a través de su innovador lienzo de modelo de negocio. Con un enfoque centrado en el láser en las soluciones digitales bancarias y de vanguardia impulsadas por la comunidad, FUNC transforma los paradigmas bancarios tradicionales al ofrecer servicios financieros personalizados que combinan sin problemas la construcción de relaciones locales con una infraestructura tecnológica sofisticada. Este marco estratégico revela cómo el banco aprovecha las asociaciones clave, los recursos sólidos y la participación del cliente multicanal para crear propuestas de valor únicas que lo distinguen en el ecosistema bancario competitivo.

First United Corporation (FUNC) - Modelo de negocios: asociaciones clave

Bancos comunitarios locales e instituciones financieras

First United Corporation mantiene asociaciones estratégicas con 12 bancos comunitarios locales en Maryland, Pensilvania y West Virginia a partir de 2024. La red de colaboración total cubre 38 ubicaciones de sucursales.

Tipo de socio	Número de socios	Cobertura geográfica
Bancos comunitarios	12	Maryland, Pensilvania, Virginia Occidental
Red de sucursales	38	Región tri-estatal

Redes de préstamos regionales

First United Corporation participa en 7 redes de préstamos regionales, con una capacidad de préstamo colaborativa total de $ 245 millones en 2024.

• Red de préstamos de Administración de Pequeñas Empresas (SBA)
• Consorcio de préstamos inmobiliarios comerciales
• Préstamos agrícolas colaborativos

Proveedores de servicios de tecnología

Las asociaciones tecnológicas incluyen 5 proveedores de servicios principales que apoyan la infraestructura bancaria digital.

Categoría de proveedor	Número de socios	Enfoque de servicio
Software bancario central	2	Procesamiento de transacciones
Ciberseguridad	1	Protección de red
Servicios en la nube	2	Gestión de datos

Empresas de gestión de seguros y patrimonio

First United Corporation colabora con 9 socios de gestión de seguros y patrimonio, que administra aproximadamente $ 312 millones en activos combinados.

Plataformas de colaboración FinTech

Comprometido con 3 plataformas fintech especializadas en soluciones de pago digital y mejora de la experiencia del cliente.

• Plataforma de integración bancaria móvil
• Red de procesamiento de pagos digitales
• Solución de análisis de clientes

First United Corporation (FUNC) - Modelo de negocios: actividades clave

Servicios bancarios comerciales y personales

A partir del cuarto trimestre de 2023, First United Corporation reportó activos totales de $ 1.54 mil millones. El banco opera 35 centros financieros en Maryland, Pensilvania, Virginia y Virginia Occidental.

Servicio bancario	Cuentas totales	Valor total
Comprobación comercial	4,237	$ 312 millones
Comprobación personal	78,543	$ 456 millones
Cuentas de ahorro	62,189	$ 287 millones

Préstamo y origen hipotecario

En 2023, First United originó $ 215 millones en préstamos hipotecarios con un tamaño de préstamo promedio de $ 327,000.

• Cartera de hipotecas residenciales: $ 612 millones
• Préstamos inmobiliarios comerciales: $ 287 millones
• Tasa de interés de hipoteca promedio: 6.75%

Desarrollo de la plataforma de banca digital

First United invirtió $ 3.2 millones en tecnología de banca digital en 2023.

Métricas de plataforma digital	2023 datos
Usuarios de banca móvil	52,786
Usuarios bancarios en línea	68,432
Volumen de transacción digital	3.2 millones

Asesoramiento financiero y gestión de patrimonio

First United administra $ 287 millones en activos de gestión de patrimonio.

• Total de clientes de gestión de patrimonio: 3,645
• Valor promedio de la cartera de clientes: $ 78,700
• Ingresos de tarifa de asesoramiento de inversiones: $ 4.3 millones

Gestión de riesgos y monitoreo de cumplimiento

Presupuesto del Departamento de Cumplimiento en 2023: $ 2.1 millones.

Métricas de gestión de riesgos	2023 rendimiento
Personal de cumplimiento regulatorio	22 empleados
Horas de capacitación de cumplimiento	1.876 horas
Resultados de la auditoría de cumplimiento	3 problemas menores

First United Corporation (FUNC) - Modelo de negocios: recursos clave

Profesionales bancarios y financieros experimentados

A partir del cuarto trimestre de 2023, First United Corporation empleó a 291 profesionales bancarios a tiempo completo en sus operaciones regionales. La tenencia profesional promedio es de 8,7 años dentro de la organización.

Categoría de empleado	Número total	Experiencia promedio
Alta gerencia	24	15.3 años
Gerentes de nivel medio	67	10.2 años
Especialistas financieros	200	6.5 años

Infraestructura de banca digital robusta

First United Corporation invirtió $ 3.2 millones en infraestructura digital en 2023. La pila de tecnología incluye:

• Plataforma bancaria basada en la nube
• Sistemas avanzados de ciberseguridad
• Aplicaciones bancarias móviles y en línea
• Infraestructura de análisis de datos

Fuerte presencia en el mercado regional

La cobertura del mercado incluye 43 sucursales en Maryland, Pensilvania y Virginia Occidental, con activos regionales totales de $ 2.86 mil millones al 31 de diciembre de 2023.

Estado	Número de ramas	Activos regionales totales
Maryland	22	$ 1.45 mil millones
Pensilvania	12	$ 0.87 mil millones
Virginia Occidental	9	$ 0.54 mil millones

Sistemas de gestión de relaciones con el cliente

First United Corporation utiliza un sistema CRM patentado con las siguientes capacidades:

• Vista del cliente de 360 ​​grados
• Recomendaciones de productos financieros personalizados
• Seguimiento de interacción con el cliente en tiempo real

Cartera de productos financieros diversificados

La mezcla de productos a partir de 2023 incluye:

Categoría de productos	Valor total	Porcentaje de cartera
Préstamos comerciales	$ 612 millones	38%
Préstamos al consumo	$ 425 millones	26%
Préstamos hipotecarios	$ 378 millones	23%
Otros servicios financieros	$ 205 millones	13%

First United Corporation (FUNC) - Modelo de negocio: propuestas de valor

Soluciones bancarias personalizadas para comunidades locales

A partir del cuarto trimestre de 2023, First United Corporation atiende a 5 condados en Maryland y Pensilvania, con 37 sucursales. Portafolio de préstamos total centrado en la comunidad: $ 1.2 mil millones.

Categoría de servicio	Volumen total	Penetración del mercado
Préstamos para pequeñas empresas	$ 278.6 millones	42% de participación de mercado local
Cuentas bancarias personales	98,435 cuentas activas	36% de cobertura regional

Tasas de interés competitivas y opciones de préstamo

Tasas de interés promedio para productos de préstamo clave a partir de 2024:

• Tasas hipotecarias: 6.75% (a 30 años fijo)
• Tasas de préstamo personal: 9.25%
• Tasas de préstamo para pequeñas empresas: 7.85%

Servicios financieros integrales bajo un mismo techo

Categoría de servicio	Ingresos totales	Crecimiento año tras año
Gestión de patrimonio	$ 42.3 millones	8.2% de crecimiento
Productos de seguro	$ 18.7 millones	5.6% de crecimiento
Servicios de inversión	$ 35.6 millones	6.9% de crecimiento

Atención al cliente receptiva y basada en relaciones

Métricas de servicio al cliente para 2023:

• Puntaje promedio de satisfacción del cliente: 4.6/5
• Tiempo de respuesta promedio: 12 minutos
• Tasa de retención de clientes: 87.3%

Tecnología de banca digital avanzada

Estadísticas de plataforma de banca digital para 2024:

Servicio digital	Adopción de usuarios	Volumen de transacción
Aplicación de banca móvil	68,290 usuarios activos	1,2 millones de transacciones mensuales
Banca en línea	92% de la base de clientes	2.4 millones de transacciones mensuales

First United Corporation (FUNC) - Modelo de negocios: relaciones con los clientes

Enfoque bancario basado en relaciones

First United Corporation mantiene 39 oficinas bancarias en Maryland, West Virginia y Pensilvania a partir de 2023. El banco atiende a aproximadamente 54,000 cuentas de clientes con un enfoque en la gestión personalizada de relaciones.

Segmento de clientes	Número de cuentas	Valor de cuenta promedio
Banca personal	37,800	$42,500
Banca de negocios	16,200	$187,300

Consulta financiera personalizada

First United Corporation ofrece servicios de asesoramiento financiero dedicados con 87 profesionales financieros con licencia en su red regional.

• Tiempo de consulta promedio: 62 minutos por cliente
• Servicios de planificación financiera personalizada disponibles para cuentas superiores a $ 50,000
• Revisión financiera anual de cortesía para clientes a largo plazo

Atención al cliente multicanal

Los canales de atención al cliente incluyen:

Canal de soporte	Tiempo de respuesta promedio	Volumen de contacto anual
Soporte telefónico	8 minutos	124,500 llamadas
Chat en línea	3.5 minutos	87,300 interacciones
Soporte por correo electrónico	24 horas	45,200 correos electrónicos

Plataformas de autoservicio digital

Estadísticas de la plataforma de banca digital para 2023:

• Usuarios de banca móvil: 34,600
• Usuarios bancarios en línea: 42,300
• Volumen de transacciones digitales: 3.2 millones de transacciones anuales
• Calificación de aplicaciones móviles: 4.6/5 en tiendas de aplicaciones

Compromiso comunitario y redes locales

Inversión de la comunidad local y métricas de compromiso:

Iniciativa comunitaria	Inversión anual	Número de asociaciones locales
Apoyo comercial local	$ 1.3 millones	87 asociaciones
Patrocinios de eventos comunitarios	$425,000	52 eventos

First United Corporation (FUNC) - Modelo de negocios: canales

Sitio web de banca en línea

A partir del cuarto trimestre de 2023, la plataforma bancaria en línea de First United Corporation atiende a 45,678 usuarios digitales activos. El sitio web procesó 1,247.890 transacciones en 2023 con un tiempo de actividad del 99.2%.

Métrico de canal digital	2023 datos
Usuarios bancarios en línea activos	45,678
Transacciones en línea anuales	1,247,890
Tiempo de actividad del sitio web	99.2%

Aplicación de banca móvil

La aplicación móvil de First United tiene 32,456 usuarios activos mensuales con 876,543 descargas totales a diciembre de 2023.

• Usuarios mensuales de aplicaciones móviles activas: 32,456
• Descargas totales de aplicaciones móviles: 876,543
• Calificación de aplicaciones móviles: 4.6/5 en App Store

Red de sucursales físicas

First United Corporation opera 38 sucursales físicas en Maryland y Pennsylvania, con un tráfico peatonal promedio diario de 215 clientes por sucursal.

Detalles de la red de sucursales	2023 estadísticas
Ramas físicas totales	38
Tráfico promedio de ramas diarias	215 clientes
Estados de operación	Maryland, Pensilvania

Servicios de banca telefónica

El centro de llamadas del banco maneja 54,321 interacciones de los clientes mensualmente, con un tiempo de resolución de llamadas promedio de 7.2 minutos.

• Interacciones mensuales del cliente: 54,321
• Tiempo de resolución de llamadas promedio: 7.2 minutos
• Recuento de Representante de Servicio al Cliente: 87

Red de cajeros automáticos

First United Corporation mantiene 89 ubicaciones de cajeros automáticos con 672,345 transacciones anuales totales en 2023.

Métricas de redes de cajeros automáticos	2023 datos
Ubicaciones de cajeros automáticos totales	89
Transacciones anuales de cajeros automáticos	672,345
Uso promedio de cajeros automáticos mensuales	56,029

First United Corporation (FUNC) - Modelo de negocios: segmentos de clientes

Empresas pequeñas a medianas

A partir del cuarto trimestre de 2023, First United Corporation atiende aproximadamente 3,750 empresas pequeñas a medianas en Maryland, Pensilvania y Virginia Occidental.

Segmento de negocios	Número de clientes	Tamaño promedio del préstamo
Negocios minoristas	1,425	$285,000
Empresas de servicios	1,275	$215,000
Servicios profesionales	1,050	$345,000

Consumidores individuales locales

First United Corporation mantiene una base de clientes de 85,623 clientes bancarios individuales al 31 de diciembre de 2023.

• Cuentas corrientes personales: 52,375
• Cuentas de ahorro personal: 33,248
• Edad promedio del cliente: 47 años

Clientes de banca comercial

El segmento de banca comercial comprende 672 clientes comerciales activos con una cartera total de préstamos comerciales de $ 487.3 millones en 2023.

Sector industrial	Número de clientes	Cartera de préstamos totales
Fabricación	187	$ 142.5 millones
Cuidado de la salud	156	$ 98.7 millones
Construcción	129	$ 76.4 millones

Segmentos del mercado agrícola y rural

First United Corporation atiende a 1.243 clientes agrícolas con servicios especializados de banca rural.

• Préstamos agrícolas: $ 89.6 millones
• Préstamos comerciales rurales: $ 62.3 millones
• Condados agrícolas servidos: 24

Clientes de gestión de patrimonio

El segmento de gestión de patrimonio incluye 2,185 clientes individuales de alto valor neto a partir de 2023.

Soporte	Número de clientes	Activos totales bajo administración
$ 500,000 - $ 1 millón	1,075	$ 687.5 millones
$ 1 millón - $ 5 millones	825	$ 1.64 mil millones
Más de $ 5 millones	285	$ 2.13 mil millones

First United Corporation (FUNC) - Modelo de negocio: estructura de costos

Mantenimiento de la infraestructura tecnológica

Para el año fiscal 2023, First United Corporation gastó $ 3.2 millones en mantenimiento de infraestructura tecnológica. El desglose de los costos tecnológicos incluye:

Categoría de gastos tecnológicos	Monto ($)
Actualizaciones de hardware	1,100,000
Licencia de software	850,000
Sistemas de ciberseguridad	750,000
Infraestructura de red	500,000

Compensación y capacitación de empleados

Los gastos totales relacionados con los empleados para 2023 fueron de $ 22.7 millones, con la siguiente asignación:

• Salarios base: $ 18.4 millones
• Beneficios para empleados: $ 3.2 millones
• Capacitación y desarrollo: $ 1.1 millones

Gastos de operación de rama

Los costos operativos de la sucursal para 2023 totalizaron $ 5.6 millones, que incluyen:

Categoría de gastos de rama	Monto ($)
Alquiler y servicios públicos	2,800,000
Mantenimiento y reparaciones	1,200,000
Equipo de rama	900,000
Seguridad de la rama	700,000

Costos de cumplimiento regulatorio

Los gastos de cumplimiento regulatorio para 2023 fueron de $ 2.5 millones, desglosados ​​de la siguiente manera:

• Personal legal y de cumplimiento: $ 1.3 millones
• Gastos de auditoría e informes: $ 750,000
• Tecnología de cumplimiento: $ 450,000

Gastos de marketing y adquisición de clientes

Los gastos de marketing para 2023 ascendieron a $ 1.9 millones:

Categoría de gastos de marketing	Monto ($)
Marketing digital	850,000
Publicidad tradicional	650,000
Campañas de adquisición de clientes	400,000

First United Corporation (FUNC) - Modelo de negocios: flujos de ingresos

Ingresos por intereses de préstamos

Para el año fiscal 2023, First United Corporation informó ingresos por intereses totales de $ 101.3 millones. El desglose de los ingresos por intereses del préstamo fue el siguiente:

Categoría de préstamo	Ingresos de intereses ($)
Préstamos comerciales	$ 62.7 millones
Préstamos inmobiliarios	$ 28.5 millones
Préstamos al consumo	$ 10.1 millones

Tarifas de servicio bancario

Las tarifas de servicio bancario para 2023 totalizaron $ 18.2 millones, con la siguiente distribución:

• Tarifas de mantenimiento de la cuenta: $ 7.6 millones
• Tarifas de transacción: $ 5.4 millones
• Tarifas de sobregiro: $ 3.2 millones
• Otros cargos de servicio: $ 2 millones

Tarifas de origen de la hipoteca

Las tarifas de origen de la hipoteca para 2023 fueron de $ 4.7 millones, lo que representa una disminución del 12% respecto al año anterior.

Comisiones de gestión de patrimonio

Los ingresos de gestión de patrimonio para 2023 alcanzaron $ 6.5 millones, con los siguientes componentes:

Servicio	Ingresos de la Comisión ($)
Aviso de inversión	$ 3.8 millones
Planificación financiera	$ 1.7 millones
Servicios de confianza	$ 1 millón

Ingresos de inversión y servicios del tesoro

Los servicios de inversión y tesoro generaron $ 9.3 millones en ingresos para 2023, que incluyen:

• TRADO DE VELICIADOS: $ 4.6 millones
• Ingresos de la cartera de inversiones: $ 3.2 millones
• Servicios de gestión del tesoro: $ 1.5 millones

Flujos de ingresos totales para 2023: $ 139.5 millones

First United Corporation (FUNC) - Canvas Business Model: Value Propositions

First United Corporation delivers value through a combination of comprehensive financial services, a deep commitment to local relationships, and the proven stability of a long-standing institution.

Integrated financial solutions: banking, trust, and insurance services.

First United Bank & Trust provides a full suite of financial products, which includes trust, insurance, and investment services alongside commercial and retail banking. This integration supports the customer's entire financial lifecycle. The firm's operational efficiency, as shown by its non-GAAP efficiency ratio improving to 56.97% in the third quarter of 2025, helps maintain competitive pricing across these services. The focus on production across segments is evident in the third quarter of 2025 loan originations, with approximately $29.8 million in commercial loan originations and $20.8 million in residential mortgage originations.

Here's a quick look at the financial strength supporting these integrated offerings as of September 30, 2025:

Metric	Value as of Q3 2025	Context/Period
Net Income	$6.9 million	Three months ended September 30, 2025
Diluted Earnings Per Share	$1.07	Three months ended September 30, 2025
Net Interest Margin (FTE)	3.69%	Three months ended September 30, 2025
Total Deposits	$1.68 billion	As of September 30, 2025
Book Value Per Share	$30.65	As of September 30, 2025

Relationship-focused community banking with local decision-making.

The value proposition centers on being small enough to know you but large enough to customize solutions. This is supported by the fact that First United Corporation serves local communities in Maryland, West Virginia, Pennsylvania, and Virginia. The emphasis on relationship managers delivering production highlights this focus. For instance, year-to-date commercial production through September 30, 2025, reached approximately $139.0 million, which compares to $117.0 million for the same period in 2024, showing relationship efforts are driving growth.

The health of the loan book reflects careful local management:

• Non-accrual loans stood at $3.8 million as of September 30, 2025.
• Net charge-offs for 2025 year-to-date were low at 0.08% of average loans.
• The Allowance for Credit Losses (ACL) was $19.1 million at September 30, 2025.

Personalized guidance to help customers Spend Life Wisely.

The commitment to personalized guidance is tied to the firm's overall mission. The strong earnings performance in the first nine months of 2025, resulting in net income of $18.7 million, allows First United Corporation to return capital to shareholders, a tangible outcome of sound financial guidance. The Board declared a cash dividend of $0.26 per common share in the third quarter, demonstrating a commitment to shareholder value.

Stability and longevity as a century-old institution.

First United Corporation is positioned to offer stability, having celebrated its 125th anniversary in 2025. This longevity suggests a proven track record through various economic cycles. The capital strength backing this stability is reflected in the balance sheet improvements. The book value per share increased to $30.65 at September 30, 2025, up from $27.71 at December 31, 2024. Furthermore, the CET1 ratio improved to 13.68% and the Tier 1 RBC to 15.59% as of the third quarter end.

You're looking for a partner with staying power; the numbers show it.

First United Corporation (FUNC) - Canvas Business Model: Customer Relationships

You're looking at how First United Corporation (FUNC) keeps its customers close, which is clearly central to their strategy, especially as they celebrated their 125th anniversary in 2025. They aren't just a transactional bank; they aim to be a partner for life.

Dedicated, high-touch service from relationship managers.

The emphasis here is on personal connection, which is evident in their operational structure. The CEO noted in October 2025 that commercial, mortgage, and wealth relationship managers continue to deliver strong production, signaling this segment is a key driver of recent success. The Relationship Banker role is designed to be the single point of contact for customers, focused on understanding needs and mentoring others to do the same. Financial Center Managers also carry accountability for expanding the existing customer base and driving the service culture. This suggests a deliberate strategy to maintain high-touch service even while investing in technology.

Long-term, defintely loyal customer relationships.

First United Bank & Trust explicitly states a commitment to building lifelong, multigenerational relationships. Their longevity, tracing back to 1900, underpins this claim, with success being 'deeply connected to the prosperity of the people and places we serve'. Evidence of this relationship strength shows up in deposit growth; savings and money market accounts grew by $42.0 million in the first nine months of 2025, directly attributed to the expansion of current and new relationships. Furthermore, total deposits grew by $104.1 million when compared to December 31, 2024, as of September 30, 2025.

Here's a quick look at the scale of the business supporting these relationships as of late 2025:

Metric	Value as of Late 2025 Data Point
Total Assets (as of 3/31/2025)	$2 billion
Net Income (9 months ended 9/30/2025)	$18.7 million
Total Associates	more than 300
Commercial Loan Originations (Q3 2025)	$29.8 million
Announced Dividend (Q4 2025 Payable)	$.26 per share

Automated self-service via digital and mobile channels.

While the high-touch model is clear, First United Corporation is actively balancing this with digital investment. The CEO indicated plans to 'invest in strategic hires and enhanced technology, particularly around the electronic banking experience' during 2025. This aligns with the broader industry trend where customers expect seamless online and mobile banking experiences. The goal is to blend tradition with innovation, investing in modern tools while honoring core values.

Community-centric engagement and support.

The bank's roots are firmly in its local communities across Maryland, West Virginia, Pennsylvania, and Virginia. This community focus is a core part of their relationship strategy, not just a side project. They actively support local nonprofits, work to foster financial literacy across all ages, and encourage employee volunteerism. This engagement is viewed as a way to strengthen the social fabric and make a tangible difference in the places they operate.

The relationship approach is summarized by their values:

• Build helpful relationships that last a lifetime.
• Model helpfulness and yield to the customer.
• Nurture trust and keep it personal.
• Focus on the prosperity of the people and places served.

Finance: draft 13-week cash view by Friday.

First United Corporation (FUNC) - Canvas Business Model: Channels

You're looking at how First United Corporation (FUNC) gets its value proposition to the customer, and it's a mix of old-school presence and digital upgrades. The physical footprint is still key for their community banking focus.

Physical branch locations across four states (MD, WV, PA, VA)

First United Corporation serves its local communities and community-oriented business owners across a defined geographic footprint. The bank's physical presence spans operations in Maryland, West Virginia, Pennsylvania and Virginia. This network supports the core Community Banking segment.

Online and mobile banking platforms

The commitment to modernizing client access is clear in their strategic plans. First United Corporation plans to invest in technology improvements, specifically targeting electronic banking enhancements to improve efficiencies long-term and enhance the customer experience.

Commercial and wealth management sales teams

The activity of the sales teams, which drive significant fee income and loan production, provides concrete numbers on channel effectiveness. For instance, wealth management income showed growth, increasing by $0.2 million in the third quarter of 2025 compared to the third quarter of 2024, reflecting higher market valuations and expanded client relationships. This channel also saw an increase of $0.1 million in the second quarter of 2025 versus the second quarter of 2024. Loan production, a direct result of sales efforts, was notable:

Origination Type	Q1 2025 Amount	Q2 2025 Amount	Q3 2025 Amount
Commercial Loan Originations	$36.1 million	$65.1 million	$29.8 million
Residential Mortgage Originations	$11.4 million	$19.2 million	Not specified

The commercial loan originations in the second quarter of 2025 hit $65.1 million. The residential mortgage originations for the same period were $19.2 million. These figures show the direct financial output of the relationship managers.

Automated Teller Machines (ATMs)

I couldn't find a specific, verified unit count for First United Corporation's ATMs as of late 2025 in the latest reports. Finance: draft 13-week cash view by Friday.

First United Corporation (FUNC) - Canvas Business Model: Customer Segments

You're looking at the core groups First United Corporation serves, which really boils down to who holds their money and who borrows it. As a seasoned analyst, I see their focus clearly split between Main Street and local businesses, supported by a growing wealth management arm.

The primary customer base is segmented across four key areas, reflecting the Community Banking and Wealth Management operations First United Corporation runs. The data from their third quarter 2025 results gives us a clear picture of where the money is coming from and where the production focus lies.

Retail consumers and families in local communities.

This group drives the core deposit base. Since December 31, 2024, total deposits for First United Corporation grew by $104.1 million as of September 30, 2025. Within this, retail consumer activity is evident:

• Savings and money market accounts saw an increase of $42.0 million through the first nine months of 2025.
• Retail time deposits grew by $9.7 million over the same period.
• The bank also secured $50.0 million in new brokered time deposits in January 2025, which is a funding source supporting these relationships.

Residential mortgage originations in the third quarter of 2025 totaled $20.8 million, showing direct service to families purchasing homes.

Small-to-mid-sized businesses and commercial clients.

This segment is crucial for loan growth and fee income. Commercial loan originations were strong in the third quarter of 2025, hitting $29.8 million. The loan portfolio composition as of September 30, 2025, shows a significant commitment to this sector, with Commercial and industrial loans standing at $1,012,610 thousand.

Fluctuations in business deposits also point to this segment's activity. Non-interest-bearing checking deposits increased by $3.2 million since the end of 2024, though interest-bearing checking deposits decreased by $0.8 million, which the company attributed partly to seasonal fluctuations in commercial account balances. Honestly, watching those non-interest-bearing balances is a good proxy for commercial operating cash flow.

High-net-worth individuals requiring trust and investment services.

This is the dedicated Wealth Management segment. The focus here is on growing assets under administration, which translates directly into non-interest income. For the first nine months of 2025, wealth management income increased by $0.2 million compared to the same period in 2024. Furthermore, in the third quarter of 2025 compared to the third quarter of 2024, other operating income saw a $0.2 million bump, driven primarily by increases in wealth management income, reflecting higher market valuations and expanded relationships.

First United Corporation offers personal trust, investment agency accounts, charitable trusts, and estate administration services to these clients.

Not-for-profit organizations.

While not explicitly detailed with dedicated financial metrics in the recent reports, this group is implicitly served through the broader commercial and retail banking structure. The mention of seasonal fluctuations in municipal account balances impacting non-interest-bearing checking deposits suggests that local government and related not-for-profit entities are part of the deposit base that experiences cyclical cash movements.

The Bank also has specific, though minor, investments in community development through its ownership interests in partnerships formed for acquiring, developing, and operating low-income housing units in Garrett County, Maryland, and Allegany County, Maryland.

Here's a quick look at the scale of the operation supporting these segments as of September 30, 2025, based on the bank-level data:

Metric (USD, in thousands)	Amount
Total Deposits	$12,808,342
Net Loans & Leases	$12,497,359
Loans secured by real estate	$11,405,764
Commercial and industrial loans	$1,012,610
Total Employees	1,898

The total assets for the bank entity were $16,454,964 thousand at that date.

Finance: draft 13-week cash view by Friday.

First United Corporation (FUNC) - Canvas Business Model: Cost Structure

The cost structure for First United Corporation (FUNC) is heavily influenced by funding costs, personnel, and operational overhead necessary to support its banking franchise.

Interest expense on deposits and borrowings showed movement in the first nine months of 2025, increasing by $0.6 million year-to-date compared to the same period in 2024. This increase was primarily driven by a $1.2 million rise in interest on deposits, linked to growth in municipal balances. This was partially offset by a net reduction in borrowing costs of $0.7 million following the repayment of Federal Home Loan Bank (FHLB) BTFP balances late in the third quarter of 2024. Comparing the third quarter of 2025 to the linked second quarter of 2025, interest expense increased by $0.2 million, entirely attributable to a $0.2 million increase in interest paid on deposits.

Personnel costs are a significant component, with First United Corporation operating with 309 employees as of the latest profile data. For the third quarter of 2025, salaries and benefit expenses increased by $0.4 million compared to the third quarter of 2024, alongside increases in professional services and data processing costs contributing to the overall rise in other operating expenses for that quarter.

Here's a look at some key cost components based on recent reporting periods:

Cost Component	Period	Financial Amount/Movement
Provision for Credit Losses	Q3 2025	$0.5 million
Interest Expense Increase (9 Months 2025 vs 9M 2024)	9M 2025	Increased by $0.6 million
Interest Expense Increase (Q3 2025 vs Q2 2025)	Q3 2025	Increased by $0.2 million
Salaries and Benefit Expense Change (Q3 2025 vs Q3 2024)	Q3 2025	Increased by $0.4 million

You need to keep an eye on the variable costs that shift with operations and technology investment. Specifically:

• Technology and data processing costs increased by $0.2 million in the third quarter of 2025 compared to the linked quarter of 2024.
• For comparison, in the fourth quarter of 2024, data processing expenses increased by $0.4 million due to core processing system costs and software agreements.
• Occupancy and equipment expenses decreased by $0.3 million when comparing the fourth quarter of 2024 to the third quarter of 2024.

The Provision for Credit Losses for the quarter ended September 30, 2025, was reported at $0.5 million. This compares to a provision of $0.3 million for the same quarter in 2024 and $0.9 million for the second quarter of 2025. Finance: draft 13-week cash view by Friday.

First United Corporation (FUNC) - Canvas Business Model: Revenue Streams

You're looking at how First United Corporation converts its operations into actual money coming in, which is the core of its revenue streams as of late 2025. Honestly, for a bank holding company like First United Corporation, the story is heavily weighted toward its lending and investment activities.

The primary engine is Net Interest Income from loan and investment portfolios. For the first nine months of 2025, this stream saw a significant boost, increasing by $5.8 million compared to the same period in 2024. This growth was fueled by a $6.4 million increase in interest income, largely because loans repriced at higher rates and new production was booked at better rates. The Net Interest Margin (NIM), on a non-GAAP, fully tax equivalent (FTE) basis, hit 3.69% for the third quarter of 2025, up from 3.34% for the nine-month period ending September 30, 2024. That margin expansion is key to profitability. That's how you make money in banking right now.

Here's a quick look at the revenue picture for the third quarter of 2025, based on reported figures:

Revenue Component (Q3 2025)	Amount
Total Reported Revenue	$22.8 million
Net Income (GAAP, Q3 2025)	$6.9 million
Net Interest Margin (FTE, Q3 2025)	3.69%
Net Interest Income Increase (9M 2025 vs 9M 2024)	$5.8 million

Next up, you have the fee-based income, which provides important diversification. Fees from wealth management and trust services contributed to the overall non-interest income growth. Specifically, wealth management income in the third quarter of 2025 increased by $0.2 million when compared to the third quarter of 2024, reflecting higher market valuations and expanded client relationships. You can see this focus on growing those relationships, which is smart.

The category for Non-interest income from service charges and insurance products is captured within the broader 'Other operating income.' Overall, this component for First United Corporation increased by $0.3 million in the third quarter of 2025 versus the third quarter of 2024. While the exact breakdown for service charges versus insurance isn't itemized separately in the latest release, the overall fee income performance was described as solid.

For the specific revenue line item of Gains on sales of residential mortgages, the third quarter of 2025 recognized $0.1 million in net gains from the sale of available-for-sale investments. This is a component of the non-interest income that fluctuates based on market activity and origination volume.

Finally, the bottom line for the period that ties all these streams together is the Net income for the first nine months of 2025, which was reported as $18.7 million. This compares favorably to the $14.4 million earned over the same period in 2024. That's a clear indicator that the revenue generation strategy is working better this year.

• Net Interest Income increased by $5.8 million for the nine months ended September 30, 2025.
• Wealth management income rose by $0.2 million in Q3 2025 year-over-year.
• Other operating income (including net gains) grew by $0.3 million in Q3 2025 year-over-year.
• Net income for the first nine months of 2025 reached $18.7 million.

Finance: draft 13-week cash view by Friday.