<SEC-DOCUMENT>0001104659-21-040168.txt : 20210323
<SEC-HEADER>0001104659-21-040168.hdr.sgml : 20210323
<ACCEPTANCE-DATETIME>20210323124851
ACCESSION NUMBER:		0001104659-21-040168
CONFORMED SUBMISSION TYPE:	DEFA14A
PUBLIC DOCUMENT COUNT:		2
FILED AS OF DATE:		20210323
DATE AS OF CHANGE:		20210323

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:		DEFA14A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-14237
		FILM NUMBER:		21763957

	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
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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; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><B>SECURITIES AND
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20549</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>FORM <FONT ID="xdx_90F_edei--DocumentType_c20210323__20210323_zpYYvcGtH1pa">8-K</FONT></B></P>

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<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>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Date of Report (Date of earliest event reported): <FONT ID="xdx_90D_edei--DocumentPeriodEndDate_c20210323__20210323_z7hjqrKemZN8">March 23, 2021</FONT></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt"><FONT STYLE="text-decoration: underline"><FONT ID="xdx_90F_edei--EntityAddressAddressLine1_c20210323__20210323_zeQnWZEZlWX9">19 South Second Street</FONT>, <FONT ID="xdx_902_edei--EntityAddressCityOrTown_c20210323__20210323_zGkabBvq1Ff4">Oakland</FONT>, <FONT ID="xdx_906_edei--EntityAddressStateOrProvince_c20210323__20210323_zmSNqVYAVWr2">Maryland</FONT> <FONT ID="xdx_905_edei--EntityAddressPostalZipCode_c20210323__20210323_za8x68kyXRLj">21550</FONT></FONT></P>

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telephone number, including area code)</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; text-align: center; margin-top: 0pt; margin-bottom: 0pt">(Former name or former
address, if changed since last report)</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</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>

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    <TD STYLE="text-align: justify">Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR>
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    <TD STYLE="text-align: justify">Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.25in; text-indent: -0.25in">Securities registered pursuant
to Section 12(b) of the Act:</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Indicate by check mark whether the registrant is an emerging
growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR &#167;230.405) or Rule 12b-2 of the Securities Exchange
Act of 1934 (17 CFR &#167;240.12b-2).</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: right; text-indent: 4in">Emerging growth company
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">If an emerging growth company, indicate by check mark if the
registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards
provided pursuant to Section 13(a) of the Exchange Act. <FONT STYLE="font-family: Wingdings"><FONT STYLE="font-family: Wingdings">&#168;</FONT></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</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">&#160;</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-top: 0pt; margin-bottom: 0pt; text-align: left">&#160;</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>&#160;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 8.01 Other Events.</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">On March 23, 2021, First United Corporation
(&#8220;First United&#8221;) issued a press release, a copy of which is filed herewith as Exhibit 99.1.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"><FONT STYLE="text-decoration: underline">Important Additional Information</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">First United, its directors and certain
of its executive officers will be deemed to be participants in the solicitation of proxies from First United&#8217;s shareholders
in connection with First United&#8217;s 2021 annual meeting of shareholders. First United intends to file a definitive proxy statement
and a BLUE proxy card with the Securities and Exchange Commission (the &#8220;SEC&#8221;) in connection with any such solicitation
of proxies from First United shareholders. SHAREHOLDERS OF FIRST UNITED ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT,
ACCOMPANYING BLUE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
AS THEY WILL CONTAIN IMPORTANT INFORMATION. Exhibit 99.2 to First United&#8217;s Current Report on Form 8-K, filed with the SEC
on January 12, 2021 (&#8220;Exhibit 99.2&#8221;) contains information regarding the direct and indirect interests, by securities
holdings or otherwise, of First United&#8217;s directors and executive officers in First United&#8217;s securities. If the holdings
of First United&#8217;s securities change from the amounts provided in Exhibit 99.2, then such changes will be set forth in SEC
filings on Form 3, 4, and 5, which can be found through First United&#8217;s website at <FONT STYLE="text-decoration: underline">http://investors.mybank.com/</FONT> or
through the SEC&#8217;s website at <FONT STYLE="text-decoration: underline">www.sec.gov</FONT>. Information can also be found in First United&#8217;s other SEC filings,
including its Annual Report on Form 10-K for the year ended December 31, 2019. Updated information regarding the identity of potential
participants, and their direct or indirect interests, by security holdings or otherwise, will be set forth in the definitive proxy
statement and other materials to be filed with the SEC in connection with the 2021 annual meeting of shareholders. Shareholders
will be able to obtain the definitive proxy statement, any amendments or supplements to the proxy statement and other documents
filed by First United with the SEC at no charge at the SEC&#8217;s website at <FONT STYLE="text-decoration: underline">www.sec.gov</FONT>. Copies will also be available
at no charge at First United&#8217;s website at <FONT STYLE="text-decoration: underline">http://investors.mybank.com/</FONT>.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>Item 9.01. Financial Statements and Exhibits.</B></P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">(d)&#160;&#160;&#160;&#160;&#160;&#160;&#160;Exhibits.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0.5in">The exhibits filed or furnished with this
report are listed in the following Exhibit Index:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&#160;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 84px"><FONT STYLE="text-decoration: underline">Exhibit No.</FONT></TD>
    <TD STYLE="width: 24px">&#160;</TD>
    <TD><FONT STYLE="text-decoration: underline">Description</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>&#160;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD><A HREF="tm2110610d1_ex99-1.htm" STYLE="-sec-extract: exhibit">99.1</A></TD>
    <TD>&#160;</TD>
    <TD><A HREF="tm2110610d1_ex99-1.htm" STYLE="-sec-extract: exhibit"><FONT STYLE="font: 10pt Times New Roman, Times, Serif">Press
release dated March 23, 2021 </FONT>(filed herewith)</A></TD></TR>
<TR STYLE="vertical-align: top">
    <TD>104</TD>
    <TD>&#160;</TD>
    <TD>Cover page interactive data file (embedded within the iXBRL document)</TD></TR>
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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&#160;</B></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"><B>&#160;</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">&#160;</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">&#160;</P>

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<TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD COLSPAN="2">FIRST UNITED CORPORATION</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 50%">&#160;</TD>
    <TD STYLE="width: 5%">&#160;</TD>
    <TD STYLE="width: 45%">&#160;</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>Dated:&#160;&#160;March 23, 2021</TD>
    <TD>By:</TD>
    <TD STYLE="border-bottom: Black 1pt solid">/s/ Tonya K. Sturm</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>Tonya K. Sturm</TD>
    </TR>
<TR STYLE="vertical-align: top">
    <TD>&#160;</TD>
    <TD>&#160;</TD>
    <TD>Senior Vice President &amp; CFO</TD>
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<TYPE>EX-99.1
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<DESCRIPTION>EXHIBIT 99.1
<TEXT>
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<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="text-align: right; margin: 0"><B>Exhibit 99.1</B></P>

<P STYLE="margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>First United Earns BauerFinancial's 5-Star
Rating for the Fourth Year Running</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">OAKLAND, Md., March 23, 2021 /PRNewswire/ --&nbsp;First United
Corporation, (NASDAQ: FUNC), a bank holding company and the parent company of First United Bank &amp; Trust (the &quot;Company&quot;
or &quot;First United&quot;), today announced that, for&nbsp;the fourth consecutive year, the Company earned a 5-star rating from
BauerFinancial, Inc. (&quot;BauerFinancial&quot;), the nation's leading independent bank and credit union rating firm.</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">Since 1983, BauerFinancial has conducted its own independent
analysis to rate the strength of banks for&nbsp;their depositors. As BauerFinancial's highest rating, the 5-Star Superior rating
recognizes First United for its continuous excellency in banking based on metrics including capital adequacy, profitability and
asset quality, among others.</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">&quot;We are proud of, once again, earning BauerFinancial's
gold standard 5-Star rating,&quot; said Carissa Rodeheaver, CEO, President and Chairman of the Board of Directors, First United.
&quot;First United's management team and Board remain committed to delivering strong financial results for our shareholders while
serving our valued customers and communities. This rating recognizes our ability to deliver on that commitment and the efforts
of all of our employees. This past year has been a difficult year for many but it has also demonstrated our ability to support
our communities and protect and create value for our investors, which we will remain focused on as the economy hopefully continues
to rebound.&quot;</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">&quot;This is indeed reflective of First United Bank &amp; Trust's
dedication and commitment, not only to its customers, but to the entire community&quot;, reflects Karen Dorway, president of BauerFinancial.
&quot;Community banks, like First United Bank &amp; Trust, have been on the front lines doing what is necessary to help their neighbors
and friends. This is the type of devotion you will only find in a community bank.&quot;</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"><B>ABOUT FIRST UNITED CORPORATION</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">First United Corporation is the parent company of First United
Bank &amp; Trust, a Maryland trust company with commercial banking powers (the &quot;Bank&quot;), and two statutory trusts that
were used as financing vehicles.&nbsp; The Bank has four wholly-owned subsidiaries: OakFirst Loan Center, Inc., a West Virginia
finance company; OakFirst Loan Center, LLC, a Maryland finance company; First OREO Trust, a Maryland statutory trust that holds
and services real estate acquired by the Bank through foreclosure or by deed in lieu of foreclosure; and FUBT OREO I, LLC, a Maryland
company that likewise holds and services real estate acquired by the Bank 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.&nbsp; First
United Corporation's website is www.mybank.com.</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"><B>FORWARD-LOOKING STATEMENTS</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">This press release contains forward-looking statements as
defined by the Private Securities Litigation Reform Act of 1995.&nbsp; Forward-looking statements do not represent historical
facts, but are statements about management'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
&quot;anticipate,&quot; &quot;estimate,&quot; &quot;will,&quot; &quot;should,&quot; &quot;expect,&quot; &quot;believe,&quot;
&quot;intend,&quot; and similar expressions. Although these statements reflect management's good faith beliefs and
projections, they are not guarantees of future performance and they may not prove true.&nbsp; The beliefs, plans and
objectives on which forward-looking statements are based involve risks and uncertainties that could cause actual results to
differ materially from those addressed in the forward-looking statements.&nbsp; For a discussion of these risks and
uncertainties, see the section of the periodic reports that First United Corporation files with the Securities and Exchange
Commission (the &quot;SEC&quot;) entitled &quot;Risk Factors,&quot; including among many others the risk factor set forth in
First United's Annual Report on&nbsp;Form 10-K, as amended, for the year ended December 31, 2019 entitled, &quot;<B>The
outbreak of the recent coronavirus ('COVID-19'), or an outbreak of another highly infectious or contagious disease, could
adversely affect the Corporation's business, financial condition and results of operations</B>.&quot; and any updates thereto
that might be contained in subsequent reports filed by First United.&nbsp; The risks and uncertainties associated with the
COVID-19 pandemic and its impact on First United will depend on, among other things, the length of time that the pandemic
continues; the duration of the potential imposition of further restrictions on travel in the future; the effect of the
pandemic on the global, national, and local economies and on the businesses of our borrowers and their ability to make
payments on their obligations; the remedial actions and stimulus measures adopted by federal, state, and local governments;
and the inability of employees to work due to illness, quarantine, or government mandates.</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"></P>

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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"><B>IMPORTANT ADDITIONAL INFORMATION </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">First United, its directors and certain of its executive officers
will be deemed to be participants in the solicitation of proxies from First United's shareholders in connection with First United's
2021 annual meeting of shareholders. First United intends to file a definitive proxy statement and a BLUE proxy card with the
SEC in connection with any such solicitation of proxies from First United shareholders. SHAREHOLDERS OF FIRST UNITED ARE STRONGLY
ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING BLUE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND
IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE AS THEY WILL CONTAIN IMPORTANT INFORMATION. Exhibit 99.2 to First United's Current
Report on Form 8-K, filed with the SEC on January 12, 2021 (&quot;Exhibit 99.2&quot;) contains information regarding the direct
and indirect interests, by securities holdings or otherwise, of First United's directors and executive officers in First United's
securities. If the holdings of First United's securities change from the amounts provided in Exhibit 99.2, then such changes will
be set forth in SEC filings on Form 3, 4, and 5, which can be found through First United's website at http://investors.mybank.com/
or through the SEC's website at www.sec.gov. Information can also be found in First United's other SEC filings, including its
Annual Report on Form 10-K for the year ended December 31, 2019. Updated information regarding the identity of potential participants,
and their direct or indirect interests, by security holdings or otherwise, will be set forth in the definitive proxy statement
and other materials to be filed with the SEC in connection with the 2021 annual meeting of shareholders. Shareholders will be
able to obtain the definitive proxy statement, any amendments or supplements to the proxy statement and other documents filed
by First United with the SEC at no charge on the SEC's website at www.sec.gov. Copies will also be available at no charge on First
United's website at <U>http://investors.mybank.com/</U>.</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"><B>Media Contact</B></P>

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

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

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">(646) 818-9229 / (646) 818-9074</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">bschaffer@prosek.com / kduarte@prosek.com</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"></P>

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