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Common Stock Rights Offering
 9 Months Ended
Sep. 30, 2017
Preferred Stock / Common Stock Rights Offering [Abstract]  
Common Stock Rights Offering

Note 19 – Common Stock Rights Offering



On March 20, 2017, First United Corporation completed a common stock rights offering to existing shareholders in which it sold an aggregate of 783,626 shares of common stock at a subscription price of $11.93 per share, resulting in aggregate gross proceeds of approximately $9.4 million (the “Rights Offering”).  Net proceeds from the Rights Offering amounted to approximately $9.2 million, reflecting $144,667 in offering-related expenses.  The Corporation used the proceeds to partially offset the redemption of $10.0 million of the Corporation’s Fixed Rate Cumulative Perpetual Preferred Stock, Series A, and the repayment of $10.8 million of junior subordinated debentures held by Trust III, both of which were completed in March 2017.