| Business Summary | | First
United
Corporation
is
a
one-bank
holding
company
with
two
non-bank
subsidiaries.
First
United
Bank
&
Trust,
Oakfirst
Life
Insurance
Corporation,
and
First
United
Capital
Trust
are
the
only
direct
subsidiaries
of
the
Company.
First
United
Bank
&
Trust
is
a
commercial
bank
that
provides
various
services,
including
checking,
savings,
NOW
and
Money
Market
deposit
accounts,
business
loans,
personal
loans,
mortgage
loans,
lines
of
credit
and
consumer-oriented
financial
services.
Oakfirst
Life
Insurance
Corporation
is
a
reinsurance
company
that
reinsures
credit
life
and
credit
accident
and
health
insurance
written
by
American
General
Assurance
Company
on
consumer
loans
made
by
First
United
Bank
&
Trust.
First
United
Capital
Trust
is
a
Business
Trust. | More
from
Market Guide: Expanded
Business Description |
| Financial Summary | | FUNC
is
a
bank
holding
company
for
First
United
National
Bank
and
Trust,
with
22
offices
in
MD
and
WV.
FUNC
also
operates
Oakfirst
Life
Insurance.
For
the
six
months
ended
6/30/01,
total
interest
income
rose
4%
to
$32.2
million.
Net
interest
income
after
loan
loss
provision
rose
2%
to
$13.1
million.
Net
income
rose
13%
to
$4.3
million.
Results
reflect
increased
earning
asset
balances,
higher
trust
department
income
and
increased
net
securities
gains. | More
from
Market Guide: Significant
Developments |
| | | | FY2000 Pay | |
| William Grant, 46 Chairman,
CEO, Director | $210K | Robert Kurtz, 54 Pres,
CFO, Treasurer; and Pres and Chief Financial Officer of the Bank | 167K | Benjamin Ridder, 59 Exec.
VP of Retail Banking | 129K | Frederick Thayer, IV, 42 Sr.
VP, Director of Sales and CRA Officer | 104K | Jeannette Fitzwater, 40 Sr.
VP of HR | 107K | Dollar amounts are as of 31-Dec-2000 and compensation values are for the fiscal year ending on that date; "Pay" is salary, bonuses, etc.. |
| More
from
Market Guide on Officers & Directors: Expanded
List, Bios,
Compensation,
Options
|
|