FIRST UNITED CORPORATION ANNOUNCES FIRST QUARTER 2022 EARNINGS

OAKLAND, Md., April 21, 2022 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC), a bank holding company and the parent company of First United Bank & Trust (the "Bank"), today announced earnings results for the three-month period ended March 31, 2022.  Consolidated net income was $5.7 million for the first quarter of 2022, or $0.86 per diluted share, compared to $3.4 million, or $0.49 per diluted share, for the first quarter of 2021.  Non-GAAP, core earnings were $5.7 million ($0.86 per diluted share) for the first quarter of 2022 compared to $6.0 million, excluding litigation settlement charges ($0.86 per diluted share) for the first quarter of 2021 and $7.3 million, excluding the insurance reimbursement and the contribution to the First United Community Dreams Foundation, ($1.10 per diluted share) for the fourth quarter of 2021.

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