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First United ( (FUNC) ) just unveiled an announcement.
First United Corporation reported strong financial results for the fourth quarter of 2024, with net income reaching $6.2 million, a significant increase from $1.8 million in the same period of 2023. The company attributed its success to robust loan growth, efficient expense management, and a strong contribution from its wealth management department. Net interest income saw a notable rise due to new loans at higher rates, and operating expenses decreased due to reduced occupancy and equipment costs. The company aims to further invest in growing its loan and deposit market share in 2025.
More about First United
First United Corporation is a bank holding company and the parent company of First United Bank & Trust. The company operates in the financial services industry, focusing on banking services with a strong emphasis on loan growth and wealth management.
YTD Price Performance: -1.82%
Average Trading Volume: 25,630
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $212.6M
Learn more about FUNC stock on TipRanks’ Stock Analysis page.
