First United Corporation Announces First Quarter 2021 Earnings
First United Corporation (FUNC)
US:NASDAQ Investor Relations:
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Source: PR Newswire
OAKLAND, Md., May 4, 2021 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC), a bank holding company and the parent company of First United Bank & Trust (the "Bank"), today announced earnings results for the three-month periods ended March 31, 2021 and 2020. First Quarter 2021 Financial Highlights:Total assets grew by $48.4 million when compared to December 31, 2020, a 2.8% increase. Loan and deposit growth were 2.7% and 3.1%, respectively, when compared to December 31, 2020. Net interest margin, on a fully tax equivalent ("FTE") basis, declined to 3.11% at March 31, 2021 compared to 3.69% at March 31, 2020 and 3.34% at December 31, 2020, attributable to the lower interest rate environment, higher cash balances and lower yielding PPP loans. The ratio of the allowance for loan losses ("ALL") to loans outstanding was 1.38% at March 31, 2021 as compared to 1.42% at March 31, 2020. The ALL to loans outstanding, excluding PPP loan balances of $145.2 million, was 1.57% at March 31, 202
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FUNC
Earnings
- 2/5/24 - Miss
FUNC
Sec Filings
- 3/19/24 - Form DEFA14A
- 3/19/24 - Form DEF
- 3/15/24 - Form 4
- FUNC's page on the SEC website