FIRST UNITED CORPORATION ANNOUNCES FOURTH QUARTER 2022 EARNINGS

OAKLAND, Md., Feb. 9, 2023 /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- and twelve-month periods ended December 31, 2022.  Consolidated net income was $7.0 million for the fourth quarter of 2022, or $1.04 per diluted share, compared to $7.5 million, or $1.14 per diluted share, for the fourth quarter of 2021 and $6.9 million, or $1.04 per diluted share, for the third quarter of 2022.  Consolidated net income was $25.0 million for the year ended December 31, 2022, or $3.76 per diluted share, compared to $19.8 million, or $2.95 per diluted share for the year ended December 31, 2021.

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