First United Corporation (FUNC): Modelo de Negócios Canvas [Jan-2025 Atualizado]

Mergulhe no plano estratégico da First United Corporation (FUNC), uma potência bancária regional que navega com magistrância no complexo cenário financeiro por meio de sua inovadora tela de modelo de negócios. Com uma abordagem focada em laser em soluções bancárias e de ponta, a func transforma os paradigmas bancários tradicionais, oferecendo serviços financeiros personalizados que combinam perfeitamente a construção de relacionamentos locais com a sofisticada infraestrutura tecnológica. Essa estrutura estratégica revela como o banco alavanca as principais parcerias, recursos robustos e envolvimento do cliente em vários canais para criar proposições de valor exclusivas que a diferenciam no ecossistema bancário competitivo.

First United Corporation (FUNC) - Modelo de Negócios: Principais Parcerias

Bancos comunitários locais e instituições financeiras

A First United Corporation mantém parcerias estratégicas com 12 bancos comunitários locais em Maryland, Pensilvânia e Virgínia Ocidental, a partir de 2024. A rede total de colaboração cobre 38 locais de filiais.

Tipo de parceiro	Número de parceiros	Cobertura geográfica
Bancos comunitários	12	Maryland, Pensilvânia, Virgínia Ocidental
Rede de filiais	38	Região de três estados

Redes de empréstimos regionais

A First United Corporation participa de 7 redes de empréstimos regionais, com capacidade total de empréstimos colaborativos de US $ 245 milhões em 2024.

• Rede de empréstimos para Administração de Pequenas Empresas (SBA)
• Consórcio de empréstimos imobiliários comerciais
• Empréstimo agrícola colaborativo

Provedores de serviços de tecnologia

As parcerias de tecnologia incluem 5 provedores de serviços principais que suportam a infraestrutura bancária digital.

Categoria de provedor	Número de parceiros	Foco de serviço
Software bancário principal	2	Processamento de transações
Segurança cibernética	1	Proteção de rede
Serviços em nuvem	2	Gerenciamento de dados

Empresas de seguro e gestão de patrimônio

A First United Corporation colabora com 9 parceiros de seguros e gerenciamento de patrimônio, gerenciando aproximadamente US $ 312 milhões em ativos combinados.

Plataformas de colaboração de fintech

Envolvido com 3 plataformas de fintech especializadas em soluções de pagamento digital e aprimoramento da experiência do cliente.

• Plataforma de integração bancária móvel
• Rede de processamento de pagamento digital
• Solução de análise de clientes

First United Corporation (FUNC) - Modelo de negócios: Atividades -chave

Serviços bancários comerciais e pessoais

No quarto trimestre 2023, a First United Corporation registrou ativos totais de US $ 1,54 bilhão. O banco opera 35 centros financeiros em Maryland, Pensilvânia, Virgínia e Virgínia Ocidental.

Serviço bancário	Contas totais	Valor total
Verificação comercial	4,237	US $ 312 milhões
Verificação pessoal	78,543	US $ 456 milhões
Contas de poupança	62,189	US $ 287 milhões

Empréstimos e originação hipotecária

Em 2023, o First United originou US $ 215 milhões em empréstimos hipotecários com um tamanho médio de empréstimo de US $ 327.000.

• Portfólio de hipoteca residencial: US $ 612 milhões
• Empréstimos imobiliários comerciais: US $ 287 milhões
• Taxa média de juros da hipoteca: 6,75%

Desenvolvimento da plataforma bancária digital

A First United investiu US $ 3,2 milhões em tecnologia bancária digital em 2023.

Métricas de plataforma digital	2023 dados
Usuários bancários móveis	52,786
Usuários bancários online	68,432
Volume de transação digital	3,2 milhões

Conselho financeiro e gestão de patrimônio

O First United gerencia US $ 287 milhões em ativos de gerenciamento de patrimônio.

• Total de clientes de gerenciamento de patrimônio: 3.645
• Valor médio do portfólio de clientes: US $ 78.700
• Receita de taxa de consultoria de investimento: US $ 4,3 milhões

Gerenciamento de riscos e monitoramento de conformidade

Orçamento do Departamento de Conformidade em 2023: US $ 2,1 milhões.

Métricas de gerenciamento de riscos	2023 desempenho
Equipe de conformidade regulatória	22 funcionários
Horário de treinamento de conformidade	1.876 horas
Resultados da auditoria de conformidade	3 questões menores

First United Corporation (Func) - Modelo de Negócios: Recursos -Principais

Profissionais bancários e financeiros experientes

No quarto trimestre 2023, a First United Corporation empregou 291 profissionais bancários em tempo integral em suas operações regionais. A posse profissional média é de 8,7 anos na organização.

Categoria de funcionários	Número total	Experiência média
Gestão sênior	24	15,3 anos
Gerentes de nível médio	67	10,2 anos
Especialistas financeiros	200	6,5 anos

Infraestrutura bancária digital robusta

A First United Corporation investiu US $ 3,2 milhões em infraestrutura digital em 2023. A pilha de tecnologia inclui:

• Plataforma bancária baseada em nuvem
• Sistemas avançados de segurança cibernética
• Aplicativos bancários móveis e online
• Infraestrutura de análise de dados

Forte presença do mercado regional

A cobertura do mercado inclui 43 localizações de filiais em Maryland, Pensilvânia e Virgínia Ocidental, com ativos regionais totais de US $ 2,86 bilhões em 31 de dezembro de 2023.

Estado	Número de ramificações	Total de ativos regionais
Maryland	22	US $ 1,45 bilhão
Pensilvânia	12	US $ 0,87 bilhão
Virgínia Ocidental	9	US $ 0,54 bilhão

Sistemas de gerenciamento de relacionamento com clientes

A First United Corporation utiliza um sistema de CRM proprietário com os seguintes recursos:

• Visualização do cliente em 360 graus
• Recomendações personalizadas de produtos financeiros
• Rastreamento de interação do cliente em tempo real

Portfólio de produtos financeiros diversificados

O mix de produtos em 2023 inclui:

Categoria de produto	Valor total	Porcentagem de portfólio
Empréstimos comerciais	US $ 612 milhões	38%
Empréstimos ao consumidor	US $ 425 milhões	26%
Empréstimos hipotecários	US $ 378 milhões	23%
Outros serviços financeiros	US $ 205 milhões	13%

First United Corporation (FUNC) - Modelo de Negócios: Proposições de Valor

Soluções bancárias personalizadas para comunidades locais

A partir do quarto trimestre de 2023, a First United Corporation atende a 5 municípios em Maryland e Pensilvânia, com 37 locais de filiais. Portfólio total de empréstimos focados na comunidade: US $ 1,2 bilhão.

Categoria de serviço	Volume total	Penetração de mercado
Empréstimos para pequenas empresas	US $ 278,6 milhões	42% de participação de mercado local
Contas bancárias pessoais	98.435 contas ativas	36% de cobertura regional

Taxas de juros competitivas e opções de empréstimo

Taxas de juros médias para os principais produtos de empréstimos a partir de 2024:

• Taxas de hipoteca: 6,75% (30 anos fixo)
• Taxas de empréstimo pessoal: 9,25%
• Taxas de empréstimos para pequenas empresas: 7,85%

Serviços financeiros abrangentes sob o mesmo teto

Categoria de serviço	Receita total	Crescimento ano a ano
Gestão de patrimônio	US $ 42,3 milhões	8,2% de crescimento
Produtos de seguro	US $ 18,7 milhões	5,6% de crescimento
Serviços de investimento	US $ 35,6 milhões	6,9% de crescimento

Suporte ao cliente responsivo e orientado por relacionamento

Métricas de atendimento ao cliente para 2023:

• Pontuação média de satisfação do cliente: 4,6/5
• Tempo médio de resposta: 12 minutos
• Taxa de retenção de clientes: 87,3%

Tecnologia Bancária Digital Avançada

Estatísticas da plataforma bancária digital para 2024:

Serviço digital	Adoção do usuário	Volume de transação
Aplicativo bancário móvel	68.290 usuários ativos	1,2 milhão de transações mensais
Bancos online	92% da base de clientes	2,4 milhões de transações mensais

First United Corporation (FUNC) - Modelo de Negócios: Relacionamentos do Cliente

Abordagem bancária baseada em relacionamento

A First United Corporation mantém 39 escritórios bancários em Maryland, Virgínia Ocidental e Pensilvânia a partir de 2023. O banco atende a aproximadamente 54.000 contas de clientes com foco no gerenciamento de relacionamento personalizado.

Segmento de clientes	Número de contas	Valor médio da conta
Bancos pessoais	37,800	$42,500
Banking de negócios	16,200	$187,300

Consulta financeira personalizada

A First United Corporation oferece serviços de consultoria financeira dedicados com 87 profissionais financeiros licenciados em sua rede regional.

• Tempo médio de consulta: 62 minutos por cliente
• Serviços de planejamento financeiro personalizado disponíveis para contas acima de US $ 50.000
• Revisão financeira anual gratuita para clientes de longo prazo

Suporte ao cliente multicanal

Os canais de suporte ao cliente incluem:

Canal de suporte	Tempo médio de resposta	Volume de contato anual
Suporte telefônico	8 minutos	124.500 ligações
Chat online	3,5 minutos	87.300 interações
Suporte por e -mail	24 horas	45.200 e -mails

Plataformas de autoatendimento digital

Estatísticas da plataforma bancária digital para 2023:

• Usuários bancários móveis: 34.600
• Usuários bancários online: 42.300
• Volume de transação digital: 3,2 milhões de transações anuais
• Classificação de aplicativo móvel: 4.6/5 em lojas de aplicativos

Engajamento da comunidade e redes locais

Métricas de investimento e engajamento da comunidade local:

Iniciativa comunitária	Investimento anual	Número de parcerias locais
Suporte comercial local	US $ 1,3 milhão	87 parcerias
Patrocínio de eventos da comunidade	$425,000	52 eventos

First United Corporation (FUNC) - Modelo de Negócios: Canais

Site bancário online

A partir do quarto trimestre 2023, a plataforma bancária on -line da First United Corporation atende 45.678 usuários digitais ativos. O site processou 1.247.890 transações em 2023 com um tempo de atividade de 99,2%.

Métrica de canal digital	2023 dados
Usuários bancários online ativos	45,678
Transações online anuais	1,247,890
Tempo de atualização do site	99.2%

Aplicativo bancário móvel

O aplicativo móvel do First United possui 32.456 usuários ativos mensais com 876.543 downloads totais em dezembro de 2023.

• Usuários mensais de aplicativos móveis ativos: 32.456
• Downloads de aplicativos móveis totais: 876.543
• Classificação de aplicativo móvel: 4.6/5 na App Store

Rede de ramificação física

A First United Corporation opera 38 filiais físicas em Maryland e Pensilvânia, com um tráfego diário médio de 215 clientes por filial.

Detalhes da rede de filiais	2023 Estatísticas
Ramos físicos totais	38
Tráfego médio diário de ramificação	215 clientes
Estados de operação	Maryland, Pensilvânia

Serviços bancários telefônicos

O call center do banco lida com 54.321 interações do cliente mensalmente, com um tempo médio de resolução de chamadas de 7,2 minutos.

• Interações mensais do cliente: 54.321
• Tempo médio de resolução de chamadas: 7,2 minutos
• Contagem de Representante de Atendimento ao Cliente: 87

Rede ATM

A First United Corporation mantém 89 locais ATM com 672.345 transações anuais totais em 2023.

Métricas de rede ATM	2023 dados
Locais totais de atm	89
Transações anuais de atm	672,345
Uso médio mensal do caixa eletrônico	56,029

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

Pequenas e médias empresas

A partir do quarto trimestre de 2023, a First United Corporation atende aproximadamente 3.750 empresas pequenas e médias em Maryland, Pensilvânia e Virgínia Ocidental.

Segmento de negócios	Número de clientes	Tamanho médio do empréstimo
Negócios de varejo	1,425	$285,000
Negócios de serviço	1,275	$215,000
Serviços profissionais	1,050	$345,000

Consumidores individuais locais

A First United Corporation mantém uma base de clientes de 85.623 clientes bancários individuais em 31 de dezembro de 2023.

• Contas de corrente pessoal: 52.375
• Contas de poupança pessoal: 33.248
• Idade média do cliente: 47 anos

Clientes bancários comerciais

O segmento bancário comercial compreende 672 clientes comerciais ativos com um portfólio total de empréstimos comerciais de US $ 487,3 milhões em 2023.

Setor da indústria	Número de clientes	Portfólio total de empréstimos
Fabricação	187	US $ 142,5 milhões
Assistência médica	156	US $ 98,7 milhões
Construção	129	US $ 76,4 milhões

Segmentos de mercado agrícola e rural

A First United Corporation atende 1.243 clientes agrícolas com serviços bancários rurais especializados.

• Empréstimos agrícolas: US $ 89,6 milhões
• Empréstimos de negócios rurais: US $ 62,3 milhões
• Municípios agrícolas servidos: 24

Clientes de gerenciamento de patrimônio

O segmento de gerenciamento de patrimônio inclui 2.185 clientes individuais de alta rede a partir de 2023.

Suporte de ativo	Número de clientes	Total de ativos sob gestão
US $ 500.000 - US $ 1 milhão	1,075	US $ 687,5 milhões
US $ 1 milhão - US $ 5 milhões	825	US $ 1,64 bilhão
Mais de US $ 5 milhões	285	US $ 2,13 bilhões

First United Corporation (FUNC) - Modelo de negócios: estrutura de custos

Manutenção de infraestrutura de tecnologia

Para o ano fiscal de 2023, a First United Corporation gastou US $ 3,2 milhões em manutenção de infraestrutura de tecnologia. A quebra dos custos de tecnologia inclui:

Categoria de despesa de tecnologia	Valor ($)
Atualizações de hardware	1,100,000
Licenciamento de software	850,000
Sistemas de segurança cibernética	750,000
Infraestrutura de rede	500,000

Compensação e treinamento de funcionários

As despesas totais relacionadas aos funcionários em 2023 foram de US $ 22,7 milhões, com a seguinte alocação:

• Salários base: US $ 18,4 milhões
• Benefícios dos funcionários: US $ 3,2 milhões
• Treinamento e desenvolvimento: US $ 1,1 milhão

Despesas de operação de ramificação

Os custos operacionais da ramificação de 2023 totalizaram US $ 5,6 milhões, incluindo:

Categoria de despesa de ramificação	Valor ($)
Aluguel e utilitários	2,800,000
Manutenção e reparos	1,200,000
Equipamento de ramificação	900,000
Segurança da filial	700,000

Custos de conformidade regulatória

As despesas de conformidade regulatória para 2023 foram de US $ 2,5 milhões, divididas da seguinte forma:

• Equipe legal e de conformidade: US $ 1,3 milhão
• Despesas de auditoria e relatório: US $ 750.000
• Tecnologia de conformidade: US $ 450.000

Despesas de marketing e aquisição de clientes

As despesas de marketing para 2023 totalizaram US $ 1,9 milhão:

Categoria de despesa de marketing	Valor ($)
Marketing digital	850,000
Publicidade tradicional	650,000
Campanhas de aquisição de clientes	400,000

First United Corporation (FUNC) - Modelo de negócios: fluxos de receita

Receita de juros de empréstimos

Para o ano fiscal de 2023, a First United Corporation registrou receita total de juros de US $ 101,3 milhões. A repartição da receita de juros do empréstimo foi a seguinte:

Categoria de empréstimo	Receita de juros ($)
Empréstimos comerciais	US $ 62,7 milhões
Empréstimos imobiliários	US $ 28,5 milhões
Empréstimos ao consumidor	US $ 10,1 milhões

Taxas de serviço bancário

As taxas de serviço bancário para 2023 totalizaram US $ 18,2 milhões, com a seguinte distribuição:

• Taxas de manutenção de conta: US $ 7,6 milhões
• Taxas de transação: US $ 5,4 milhões
• Taxas de cheque especial: US $ 3,2 milhões
• Outras cobranças de serviço: US $ 2 milhões

Taxas de originação hipotecária

As taxas de originação hipotecária para 2023 foram de US $ 4,7 milhões, representando uma queda de 12% em relação ao ano anterior.

Comissões de gerenciamento de patrimônio

A receita de gestão de patrimônio para 2023 atingiu US $ 6,5 milhões, com os seguintes componentes:

Serviço	Receita da Comissão ($)
Aviso de investimento	US $ 3,8 milhões
Planejamento financeiro	US $ 1,7 milhão
Serviços de confiança	US $ 1 milhão

Receita de Serviços de Investimento e Tesouro

Os serviços de investimento e tesouro geraram US $ 9,3 milhões em receita para 2023, incluindo:

• Negociação de valores mobiliários: US $ 4,6 milhões
• Portfólio de investimentos Renda: US $ 3,2 milhões
• Serviços de Gerenciamento do Tesouro: US $ 1,5 milhão

Fluxos totais de receita para 2023: US $ 139,5 milhões

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.