<SEC-DOCUMENT>0001144204-17-015878.txt : 20170321
<SEC-HEADER>0001144204-17-015878.hdr.sgml : 20170321
<ACCEPTANCE-DATETIME>20170321170231
ACCESSION NUMBER:		0001144204-17-015878
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20170320
ITEM INFORMATION:		Other Events
ITEM INFORMATION:		Financial Statements and Exhibits
FILED AS OF DATE:		20170321
DATE AS OF CHANGE:		20170321

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			FIRST UNITED CORP/MD/
		CENTRAL INDEX KEY:			0000763907
		STANDARD INDUSTRIAL CLASSIFICATION:	NATIONAL COMMERCIAL BANKS [6021]
		IRS NUMBER:				521380770
		STATE OF INCORPORATION:			MD
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14237
		FILM NUMBER:		17704796

	BUSINESS ADDRESS:	
		STREET 1:		19 S SECOND ST
		CITY:			OAKLAND
		STATE:			MD
		ZIP:			21550
		BUSINESS PHONE:		3013349471

	MAIL ADDRESS:	
		STREET 1:		19 S SECOND ST
		CITY:			OAKLAND
		STATE:			MD
		ZIP:			21550
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>v462306_8k.htm
<DESCRIPTION>8-K
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&#9;SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><B>&#9;Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM 8-K</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>CURRENT REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>PURSUANT TO SECTION 13 OR 15(d) OF THE
</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SECURITIES EXCHANGE ACT OF 1934</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported):
March 20, 2017</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><U>First United Corporation</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(Exact name of registrant as specified in
its charter)</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; font: 10pt Times New Roman, Times, Serif; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 34%; padding: 0; text-align: center; text-indent: 0"><U>Maryland</U></TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0"><U>0-14237</U></TD>
    <TD STYLE="width: 33%; padding: 0; text-align: center; text-indent: 0"><U>52-1380770</U></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">(State or other jurisdiction of</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">(Commission file number)</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">(IRS Employer</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">incorporation or organization)</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-align: center; text-indent: 0">Identification No.)</TD></TR>
</TABLE>


<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.75in"></P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: bold 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>19 South Second Street, Oakland, Maryland
21550</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Address of principal executive offices)
(Zip Code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>(301) 334-9471</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Registrant&rsquo;s telephone number, including
area code)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><BR>
<BR>
</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center"><U>N/A</U></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Former Name or Former Address, if Changed
Since Last Report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligations of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD>Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.25in"><FONT STYLE="font-family: Wingdings 2"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>INFORMATION TO BE INCLUDED IN THE REPORT</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<TABLE CELLPADDING="0" CELLSPACING="0" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 0; width: 100%"><TR STYLE="vertical-align: top; text-align: justify">
<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>Item</B></TD><TD STYLE="text-align: justify"><B>8.01. Other Events.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 20, 2017, First United Corporation
(the &ldquo;Company&rdquo;) completed its previously announced rights offering to shareholders (the &ldquo;Rights Offering&rdquo;)
pursuant to which the Company sold an aggregate of 783,626 shares of its common stock at a subscription price of $11.93 per share,
for aggregate gross proceeds of approximately $9.35 million. The terms of the Rights Offering contemplated the possibility of a
separate standby offering to certain accredited investors (the &ldquo;Standby Offering&rdquo;) in the event that the Rights Offering
was not fully subscribed by the Company&rsquo;s shareholders. The Company did not sell any shares of its common stock in the Standby
Offering because the Rights Offering was fully subscribed by shareholders through a combination of the exercise of their basic
subscription privileges and their oversubscription privileges. The Company&rsquo;s press release announcing the closing of the Rights Offering
is filed as Exhibit 99.1 to this report and incorporated herein by reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><B>Item</B></TD><TD STYLE="text-align: justify"><B>9.01. Financial Statements and Exhibits.</B></TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

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<TD STYLE="width: 0.5in"></TD><TD STYLE="width: 0.5in; text-align: left">(d)</TD><TD STYLE="text-align: justify">Exhibits.</TD>
</TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The exhibits furnished with this report
are listed in the Exhibit Index which immediately follows the signatures hereto, which Exhibit Index is incorporated herein by
reference.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SIGNATURES</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">Pursuant to the requirements of the Securities
Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in"></P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 0; text-indent: 0">FIRST UNITED CORPORATION</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; width: 50%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 4%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; width: 36%; text-indent: 0">&nbsp;</TD>
    <TD STYLE="width: 10%">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">Dated:&nbsp;&nbsp;March 21, 2017</TD>
    <TD STYLE="padding: 0; text-indent: 0">By:</TD>
    <TD STYLE="padding: 0; border-bottom: Black 1pt solid; text-indent: 0">/s/ Carissa L. Rodeheaver</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Carissa L. Rodeheaver</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">Chairman, President &amp; CEO</TD>
    <TD>&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD STYLE="padding: 0; text-indent: 0">&nbsp;</TD>
    <TD>&nbsp;</TD></TR>
</TABLE>


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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"></P>



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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>EXHIBIT INDEX</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0"></TD><TD STYLE="width: 1in; text-align: left"><U>Exhibit No.</U></TD><TD STYLE="text-align: justify"><U>Description</U></TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 1in">99.1</TD><TD>Press release dated March 20, 2017 (filed herewith)</TD></TR></TABLE>




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<TYPE>EX-99.1
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<FILENAME>v462306_ex99-1.htm
<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>Exhibit 99.1</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right"><B></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FIRST UNITED CORPORATION ANNOUNCES </B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>SUCCESSFUL COMPLETION OF RIGHTS OFFERING</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">OAKLAND, MARYLAND &ndash; March 20, 2017:
First United Corporation (NASDAQ: FUNC), a bank holding company and the parent company of First United Bank &amp; Trust (the &ldquo;Company&rdquo;),
announced today the successful completion of its previously-announced rights offering to shareholders in which the Company sold
an aggregate of 783,626 shares of common stock (the total number of shares offered) at $11.93 per share for aggregate gross proceeds
of approximately $9.35 million (the &ldquo;Rights Offering&rdquo;). In the Rights Offering, 399,991 shares were issued to shareholders
upon exercise of their basic subscription privileges and 383,635 shares were issued to shareholders upon exercise of their oversubscription
privileges (approximately 22% of the total number of shares requested pursuant to oversubscription privileges). The terms of the
Rights Offering contemplated the possibility of a separate standby offering to certain accredited investors (the &ldquo;Standby
Offering&rdquo;) in the event that the Rights Offering was not fully subscribed. Because the offering was fully subscribed by shareholders,
the Company will not sell any shares of its common stock in the Standby Offering.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Shares purchased in the Rights Offering
will be issued in book entry form. Direct registration system statements for shares purchased in the Rights Offering are expected
to be mailed to purchasers on or about March 24, 2017, along with any excess subscription payments. Shareholders who purchased
shares in the Rights Offering through their brokerage accounts will receive their purchased shares and any excess subscription
payments within their respective accounts as soon as is practicable.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Carissa L. Rodeheaver, the Company&rsquo;s
Chairman, President and Chief Executive Officer, said, &ldquo;We are very pleased with the successful outcome of our rights offering.
The participation of our long-time shareholders, including employees, executives and directors, was remarkable. We received oversubscriptions
totaling almost three times the number of offered shares. We exceeded our objective of raising at least $7.0 million and intend
to use the net proceeds of $9.2 million to offset our planned redemption of $10.0 million of our Series A Preferred Stock and planned
repayment of $10.8 million of our junior subordinated debentures. The redemption of the Series A Preferred Stock will reduce future
preferred dividend expense by approximately $.9 million per year, and the repayment of the junior subordinated debentures will
reduce future interest expense by approximately $1.1 million per year.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&ldquo;Finally, I want to acknowledge Gordon
Feinblatt LLC for their excellent legal counsel, our tax advisers at Bober, Markey, Fedorovich &amp; Company and Computershare,
Inc., our transfer agent, for the seamless execution of the offering. I also extend our appreciation to Castle Creek Capital and
Second Curve Capital, LLC for their confidence in First United Corporation and their willingness to backstop the offering through
funds under their management. Now, I look forward to executing on our strategy to grow earnings and the value of the Company.&rdquo;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><B>FORWARD-LOOKING STATEMENTS</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">This press release contains forward-looking
statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements do not represent historical
facts, but are statements about management&rsquo;s beliefs, plans and objectives about the future, as well as its assumptions and
judgments concerning such beliefs, plans and objectives. These statements are evidenced by terms such as &ldquo;will&rdquo;, &ldquo;should&rdquo;,
&ldquo;expect&rdquo;, &ldquo;anticipate&rdquo;, &ldquo;intend&rdquo;, &ldquo;plans&rdquo;, &ldquo;believe&rdquo;, &ldquo;estimate&rdquo;,
and words of similar meaning. Although these statements reflect management&rsquo;s good faith beliefs and projections, they are
not guarantees of future performance and they may not prove true. These believes and projections are subject to significant business,
economic and competitive uncertainties and contingencies, many of which are beyond management&rsquo;s control. The realization
or occurrence of these risks or uncertainties could cause actual results to differ materially from those addressed in the forward-looking
statements. For a discussion of these risks and uncertainties, see the &ldquo;Risk Factors&rdquo; section of the Company&rsquo;s
periodic reports (such as its Annual Report on Form 10-K and Quarterly Reports on Form 10-Q) that it files with the Securities
and Exchange Commission, which are available www.sec.gov.</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>ABOUT FIRST UNITED CORPORATION</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0in">First United Corporation
is the parent company of First United Bank &amp; Trust, a Maryland trust company, and three statutory trusts that were used as
financing vehicles. The Bank has three wholly-owned subsidiaries: OakFirst Loan Center, Inc., a West Virginia finance company;
OakFirst Loan Center, LLC, a Maryland finance company, and First OREO Trust, a Maryland statutory trust formed for the purposes
of servicing and disposing of the real estate that the Bank acquires through foreclosure or by deed in lieu of foreclosure. The
Bank also owns 99.9% of the limited partnership interests in Liberty Mews Limited Partnership; a Maryland limited partnership formed
for the purpose of acquiring, developing and operating low-income housing units in Garrett County, Maryland. The Company&rsquo;s
website is www.mybank.com.</P>

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