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Regulatory Capital Requirements | 12 Months Ended
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Dec. 31, 2020
Regulatory Capital Requirements [Abstract] |
Regulatory Capital Requirements | 5. 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, 2020, the Bank had $130.0 million available through unsecured lines of credit with correspondent banks, $1.1 million through a secured line of credit with the Fed Discount Window and approximately $134.4 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. ‎ The following table presents our capital ratios for years ended December 31, 2020 and 2019:
|  | Actual |  | For Capital Adequacy ‎Purposes |  | To Be Well Capitalized ‎Under Prompt Corrective ‎Action Provisions
(in thousands) |  | Amount |  | Ratio |  | Amount |  | Ratio |  | Amount |  | Ratio
December 31, 2020 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 193,391 |  | 16.08% |  | $ | 96,353 |  | 8.00% |  | $ | 120,442 |  | 10.00%
First United Bank & Trust |  |  | 181,977 |  | 15.50% |  |  | 94,084 |  | 8.00% |  |  | 117,605 |  | 10.00%
Tier 1 Capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 178,336 |  | 14.83% |  |  | 72,265 |  | 6.00% |  |  | 96,353 |  | 8.00%
First United Bank & Trust |  |  | 167,276 |  | 14.25% |  |  | 70,563 |  | 6.00% |  |  | 94,084 |  | 8.00%
Common Equity Tier 1 Capital ‎ (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 151,709 |  | 12.61% |  |  | 54,199 |  | 4.50% |  |  | 78,287 |  | 6.50%
First United Bank & Trust |  |  | 167,276 |  | 14.25% |  |  | 52,922 |  | 4.50% |  |  | 76,443 |  | 6.50%
Tier 1 Capital (to average assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 178,336 |  | 10.36% |  |  | 68,384 |  | 4.00% |  |  | 85,480 |  | 5.00%
First United Bank & Trust |  |  | 167,276 |  | 9.81% |  |  | 67,643 |  | 4.00% |  |  | 84,554 |  | 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, 2019 |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Total Capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  | $ | 182,941 |  | 16.29% |  | $ | 89,837 |  | 8.00% |  | $ | 112,296 |  | 10.00%
First United Bank & Trust |  |  | 169,943 |  | 15.60% |  |  | 87,159 |  | 8.00% |  |  | 108,948 |  | 10.00%
Tier 1 Capital (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 170,326 |  | 15.17% |  |  | 67,378 |  | 6.00% |  |  | 89,837 |  | 8.00%
First United Bank & Trust |  |  | 157,328 |  | 14.44% |  |  | 65,369 |  | 6.00% |  |  | 87,159 |  | 8.00%
Common Equity Tier 1 Capital ‎ (to risk-weighted assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 143,614 |  | 12.79% |  |  | 50,533 |  | 4.50% |  |  | 72,992 |  | 6.50%
First United Bank & Trust |  |  | 157,328 |  | 14.44% |  |  | 49,027 |  | 4.50% |  |  | 70,817 |  | 6.50%
Tier 1 Capital (to average assets) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Consolidated |  |  | 170,326 |  | 11.77% |  |  | 57,491 |  | 4.00% |  |  | 71,864 |  | 5.00%
First United Bank & Trust |  |  | 157,328 |  | 10.99% |  |  | 56,729 |  | 4.00% |  |  | 70,912 |  | 5.00%
As of December 31, 2020 and 2019, 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. The consolidated total risk-based capital ratios include $30.9 million of First United Corporation’s junior subordinated debentures (“TPS Debentures”) which qualified as Tier 1 capital at December 31, 2020 under guidance issued by the Federal Reserve. At the Bank and Consolidated level, the ratios decreased when comparing December 31, 2020 to December 31, 2019. At December 31, 2020, we were in compliance with the requirements.

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- Definition The entire disclosure for regulatory capital requirement for depository and lending institutions. Institutions include, but not are not limited to, finance company, insured depository institution, bank holding company, savings and loan association holding company, bank and savings institution not federally insured, mortgage company, foreign financial institution and credit union. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1F -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958575-112826 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (c)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (b) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1A -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958569-112826 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(2) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (a)(1) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1 -Subparagraph (e) -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958568-112826 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 942 -SubTopic 505 -Section 50 -Paragraph 1D -URI http://asc.fasb.org/extlink&oid=117337116&loc=SL5958573-112826 + Details
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