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Regulatory Capital Requirements | 12 Months Ended
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Dec. 31, 2015
Regulatory Capital Requirements [Abstract] |
Regulatory Capital Requirements | 4.Regulatory Capital Requirements We require capital to fund loans, satisfy our obligations under the Bank’s letters of credit, meet the deposit withdrawal demands of the Bank’s customers, and satisfy our other monetary obligations. To the extent that deposits are not adequate to fund our capital requirements, we can rely on a number of funding sources, including an unsecured Fed Funds lines of credit with upstream correspondent banks; secured advances with the FHLB of Atlanta, which are collateralized by eligible one to four family residential mortgage loans, home equity lines of credit, commercial real estate loans, and various securities. Cash may also be pledged as collateral. In addition, First United Corporation has a secured line of credit with the Fed Discount Window for use in borrowing funds up to 90 days, using municipal securities as collateral; brokered deposits, including CDs and money market funds; and One Way Buy CDARS/ ICS funding, which is a form of brokered deposits that has become a viable supplement to brokered deposits obtained directly. At December 31, 2015, the Bank had $70.0 million available through unsecured lines of credit with correspondent banks, $17.2 million through a secured line of credit with the Fed Discount Window and approximately $104.2 million at the FHLB. Management is not aware of any demands, commitments, events or uncertainties that are likely to materially affect our ability to meet our future capital requirements.
|  | Actual |  | For Capital Adequacy Purposes |  | To Be Well Capitalized Under Prompt Corrective Action Provisions
(in thousands) |  | Amount | Ratio |  | Amount | Ratio |  | Amount | Ratio
December 31, 2015 |  |  |  |  |  |  |  |  |
Total Capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |
Consolidated | $ | 172,119 | 17.37% | $ | 79,276 | 8.00% | $ | 99,095 | 10.00%
First United Bank & Trust |  | 149,580 | 16.24% |  | 73,714 | 8.00% |  | 92,143 | 10.00%
Tier 1 Capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |
Consolidated |  | 151,729 | 15.31% |  | 59,457 | 6.00% |  | 79,276 | 8.00%
First United Bank & Trust |  | 138,033 | 14.99% |  | 55,286 | 6.00% |  | 73,714 | 8.00%
Common Equity Tier 1 Capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |
Consolidated |  | 98,286 | 9.92% |  | 44,593 | 4.50% |  | 64,412 | 6.50%
First United Bank & Trust |  | 138,033 | 14.99% |  | 41,464 | 4.50% |  | 59,893 | 6.50%
Tier 1 Capital (to average assets) |  |  |  |  |  |  |  |  |
Consolidated |  | 151,729 | 11.51% |  | 52,833 | 4.00% |  | 66,041 | 5.00%
First United Bank & Trust |  | 138,033 | 10.52% |  | 52,346 | 4.00% |  | 65,432 | 5.00%
|  | Actual |  | For Capital Adequacy Purposes |  | To Be Well Capitalized Under Prompt Corrective Action Provisions
(in thousands) |  | Amount | Ratio |  | Amount | Ratio |  | Amount | Ratio
December 31, 2014 |  |  |  |  |  |  |  |  |
Total Capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |
Consolidated | $ | 161,377 | 15.40% | $ | 83,851 | 8.00% | $ | 104,813 | 10.00%
First United Bank & Trust |  | 162,550 | 15.60% |  | 83,379 | 8.00% |  | 104,224 | 10.00%
Tier 1 Capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |
Consolidated |  | 149,130 | 14.23% |  | 41,925 | 4.00% |  | 62,888 | 6.00%
First United Bank & Trust |  | 150,433 | 14.43% |  | 41,689 | 4.00% |  | 62,534 | 6.00%
Tier 1 Capital (to average assets) |  |  |  |  |  |  |  |  |
Consolidated |  | 149,130 | 11.29% |  | 52,846 | 4.00% |  | 66,057 | 5.00%
First United Bank & Trust |  | 150,433 | 11.43% |  | 52,642 | 4.00% |  | 65,803 | 5.00%
As of December 31, 2014 and 2015, the most recent notifications from the regulators categorized First United Corporation and the Bank as “well capitalized” under the regulatory framework for prompt corrective action. On a consolidated basis, all capital ratios increased at December 31, 2015 when compared to December 31, 2014. The consolidated total risk-based capital ratios include $40.3 million of First United Corporation’s junior subordinated debentures (“TPS Debentures”) which qualified as Tier 1 capital at December 31, 2015 under guidance issued by the Board of Governors of the Federal Reserve System (the “Federal Reserve”). At the Bank level, the ratios increased from December 31, 2014 to December 31, 2015 primarily due to the increase in earnings in 2015. As of December 31, 2015, we were in compliance with the requirements as set forth in the final rules. First United Corporation’s Board of Directors suspended the payment of dividends on the common stock in December 2010 when it approved the above-mentioned deferral of dividends on the Series A Preferred Stock, and this suspension remains in effect.

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- Definition The entire disclosure for banks, savings institutions, and credit unions, for regulatory capital requirements imposed by the Federal Reserve System (FRB), the Federal Deposit Insurance Corporation (FDIC), the Office of Thrift Supervision (OTS) or for any state imposed capital requirements, as applicable. The disclosure may include (1) a description of regulatory capital requirements (a) for capital adequacy purposes and (b) established by the prompt corrective action provisions of Section 38 of the Federal Depository Insurance Act; (2) the actual or possible material effects of noncompliance with such requirements; (3) whether the entity is in compliance with the regulatory capital requirements including (a) required and actual ratios and amounts of Tier 1 leverage, Tier 1 risk-based, and total risk-based capital, tangible capital (for savings institutions), and Tier 3 capital for market risk (for certain banks and bank holding companies), (b) factors that may significantly affect capital adequacy; (4) the prompt corrective action category in which the entity was classified as of its most recent notification; (5) whether management believes any conditions or events since notification have changed the entity's category. Also may include additional information that might be disclosed in situations where substantial doubt about the entity's ability to continue as a going concern for a reasonable period of time. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1G -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958577-112826 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1C -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958572-112826 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1E -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958574-112826 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1H -URI http://asc.fasb.org/extlink&oid=35709795&loc=d3e65071-112826 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958569-112826 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1B -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958570-112826 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958575-112826 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958568-112826 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=35709795&loc=SL5958573-112826 + Details
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