First United Bank & Trust in Oakland, Maryland (MD), WV

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First United Bank & Trust
GeneralFDIC Certificate #: 4857
Status: Active
Federal Reserve ID: 61122
Bank Holding Company (Regulatory Top Holder): First United Corporation (RSSDID: 1132672, Location: Oakland, MD)
Date Established: January 01, 1900
Trust Powers Granted: Yes
Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
Offices: 28 (Domestic: 28, Interstate: Yes)
OTS Docket #: 10579
FDIC's unique #: 3235
Numeric code: 21
Regulator: FDIC
Insurance Fund Membership: Deposit Insurance Fund (DIF)
Insured commercial Banks: Yes
FDIC Insured: Yes
Deposit Insurance Fund member: Yes
Ownership Type: Non-Stock
FFIEC Call Report 31 Filer: No
State Chartered: Yes
Subchapter S Corporations: No
Asset Concentration Hierarchy: Commercial Lending Specialization
Date of Deposit Insurance: January 01, 1934
Last Structure Change Effective Date: March 31, 2006
Last Structure Change Process Date: September 21, 2010
Last Data Update: September 21, 2010
Data Source Date: April 05, 2012
LocationAddress: 19 South Second Street, Oakland, MD 21550
County: Garrett
Quarterly Banking Profile Region: New York
FDIC Geographic Region: New York
FDIC Supervisory Region: New York
FDIC Field Office: Baltimore
Office of the Comptroller the Currency (OCC) District: Northeast
Office of Thrift Supervision Region: Southeast
History of ChangesMerge BIF and SAIF Funds into DIF
Financial SummaryTotal assets: $1,383.1 mil
Equity capital: $141.7 mil
Deposits held in domestic offices: $1,034.0 mil
Return on assets (ROA): 0.43% ($5.9 mil)
Quarterly return on assets: 0.48% ($6.6 mil)
Return on Equity (ROE): 4.61% ($6.5 mil)
Quarterly return on equity: 4.74% ($6.7 mil)
Net income: $6.5 mil
Quarterly Net income: $1.7 mil
Pretax return on assets: 0.39% ($5,394.0 mil)
Quarterly Pretax return on assets: 0.40% ($5,532.3 mil)

1992 - 1999 Historical total assets, liabilities and capital ($ mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)
(Dollar figures in thousands)
Total employees (full-time equivalent)349
Total assets$1,383,068
Cash and due from depository institutions$58,383
Interest-bearing balances$38,318
Federal funds sold & reverse repurchase agreements$5,374
Net loans & leases$919,214
Loan loss allowance $19,480
Trading account assets$0
Bank premises and fixed assets$30,818
Other real estate owned$16,675
Goodwill and other intangibles$12,063
All other assets$95,518
Life insurance assets$1,383,068
Total liabilities and capital$1,241,417
Total liabilities$1,034,012
Total deposits$884,124
Interest-bearing deposits$1,034,012
Deposits held in domestic offices$67
% insured (estimated)36868.00%
Federal funds purchased & repurchase agreements $0
Trading liabilities$160,314
Other borrowed funds $0
Subordinated debt $10,223
All other liabilities $141,651
Total equity capital$141,651
Total bank equity capital$141,651
Perpetual preferred stock$0
Common stock$3,692
Undivided profits $47,485
Noncurrent loans and leases $0
Noncurrent loans that are wholly or partially guaranteed by the U.S. government $1,154
Income earned, not collected on loans $39,968
Earning assets $1,116
Long-term assets (5+ years) $3,580
Average Assets, year-to-date $1,207,929
Average Assets, quarterly $447,923
Volatile liabilities $1,492,296
Insider loans $1,404,608
FHLB advances $1,162,936
Loans and leases held for sale $1,444,556
Unused loan commitments $31,435
Tier 1 (core) risk-based capital $31,435
Tier 2 risk-based capital $140,817
Total risk weighted assets $0
Total unused commitments $0
Restructured Loans and leases $86,046
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Income and Expense (December 31, 2011)
(Dollar figures in thousands)
Total interest income $59,496
Total interest expense $18,583
Net interest income $40,913
Provision for loan and lease losses $9,157
Total noninterest income $12,310
Fiduciary activities $4,413
Service charges on deposit accounts $3,019
Trading account gains & fees $0
Additional noninterest income $4,878
Total noninterest expense $39,095
Salaries and employee benefits $18,459
Premises and equipment expense $5,672
Additional noninterest expense $14,964
Pre-tax net operating income $4,971
Securities gains (losses) $856
Applicable income taxes -$635
Income before extraordinary items $6,462
Extraordinary gains - net $0
Net income attributable to bank $6,462
Net charge-offs $0
Cash dividends $6,462
Sale, conversion, retirement of capital stock, net $11,815
Net operating income $0
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Performance and Condition Ratios (December 31, 2011)
(Dollar figures in thousands)
Performance Ratios (%, annualized)
Yield on earning assets4.55%
Cost of funding earning assets 1.42%
Net interest margin 3.13%
Noninterest income to earning assets 0.94%
Noninterest expense to earning assets 2.99%
Net operating income to assets 0.38%
Return on assets (ROA) 0.43%
Pretax return on assets 0.39%
Return on equity (ROE) 4.61%
Retained earnings to average equity (YTD only) 4.61%
Net charge-offs to loans 1.23%
Credit loss provision to net charge-offs 77.50%
Efficiency ratio1.20%
Assets per employee$73,455
Cash dividends to net income (YTD only)3.96%
Condition Ratios (%)
Loss allowance to loans 0.00%
Loss allowance to noncurrent loans 2.08%
Noncurrent assets plus other real estate owned to assets 48.74%
Noncurrent loans to loans 4.42%
Net loans and leases to deposits4.26%
Net loans and leases to core deposits 88.90%
Equity capital to assets 100.28%
Core capital (leverage) ratio 10.24%
Tier 1 risk-based capital ratio 9.75%
Total risk-based capital ratio 12.11%
Average assets$13
Average earning assets$1,492,296
Average equity $140,044
Average loans $1,306,419
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Total Fiduciary and Related Assets (December 31, 2011)
(Dollar figures in thousands)
Total fiduciary and related assets$1
Number of Fiduciary Accounts and Related Asset Accounts1
Fiduciary powers grantedYes
Fiduciary or related activityYes
Managed Assets$565,008
Number of Accounts1
Personal trust and agency accounts$497,983
Employee benefit-defined contribution accounts$168,273
Employee benefit-defined benefit accounts$39,831
Other retirement accounts$64,947
Corporate trust and agency accounts$73,844
Investment management agency accounts$0
Other fiduciary accounts$139,778
Fiduciary accounts held in foreign offices$11,310
Non-managed Assets$0
Number of Accounts1762
Personal trust and agency accounts$0
Employee benefit-defined contribution accounts$0
Employee benefit-defined benefit accounts$0
Other retirement accounts$67,025
Corporate trust and agency accounts$53,830
Other fiduciary accounts$7,866
Fiduciary accounts held in foreign offices$38
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17 Maryland Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
03235First United Bank & Trust19 South Second Street, Oakland, MD 21550January 01, 1900Full Service Brick and Mortar
1204649Friendsville BranchMaple Street And First Avenue, Friendsville, MD 21531April 04, 1960Full Service Brick and Mortar
2204650Grantsville BranchU.S. Route 40, Main Street, Grantsville, MD 21536July 20, 1964Full Service Brick and Mortar
3204651Lake Branch38 Vacation Way, Mc Henry, MD 21541May 18, 1963Full Service Brick and Mortar
7204653Mid-Towns Plaza BranchMid-Towns Shopping Center, Crellin, MD 21550December 16, 1976Full Service Brick and Mortar
10220882White Oaks Branch1501 Oldtown Road, Cumberland, MD 21502January 24, 1966Full Service Brick and Mortar
11220883Center City BranchCentre And Harrison Streets, Cumberland, MD 21502November 01, 1973Full Service Brick and Mortar
13204655Bel Air Branch14300 Barton Boulevard S. W., Cumberland, MD 21502January 28, 1985Full Service Brick and Mortar
14204656Frostburg BranchRoute 36, Frostburg, MD 21532April 17, 1987Full Service Brick and Mortar
238609Myersville Branch207-209 Main Street, Myersville, MD 21773January 01, 1898Full Service Brick and Mortar
24230165Smithsburg Branch100 South Main Street, Smithsburg, MD 21783December 19, 1988Full Service Brick and Mortar
26230167Riverside Branch1990 Mononcacy Boulevard, Frederick, MD 21701October 17, 1994Full Service Brick and Mortar
29204661Ballenger Creek Branch5868 Ballenger Creek Plaza Shopping Center, Frederick, MD 21703June 01, 1998Full Service Brick and Mortar
30418464Lot 8, Hagerstown Commons BranchLot 8, Hagerstown Commons, Edgewood Drive, Hagerstown, MD 21740January 21, 2003Full Service Brick and Mortar
38466406Wesel Blvd. Branch1646 Wesel Blvd., Hagerstown, MD 21740April 01, 2007Full Service Brick and Mortar
3948562812894 Garrett Highway12894 Garrett Highway, Oakland, MD 21550September 07, 2007Limited Service Facility
40490162Frederick Branch102 Baughman's Lane, Frederick, MD 21702April 22, 2009Full Service Brick and Mortar
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11 West Virginia Branches as of April 05, 2012
NoIDNameAddressEstablishedService TypeMap
19212191Keyser Mall Branch29 West Southern Drive, Keyser, WV 26726December 12, 1990Full Service Brick and Mortar
21212193Moorefield BranchSouth Branch Square Route 220, Moorefield, WV 26836May 03, 1993Full Service Brick and Mortar
22212194Tri Towns Branch51 Ashfield Street, Piedmont, WV 26750August 28, 1995Full Service Brick and Mortar
31528Martinsburg Branch100 South Queen Street, Martinsburg, WV 25401May 25, 1873Limited Service Facility
3214986South Berkeley BranchU.S. Route 11 And State Route 51, Inwood, WV 25428June 28, 1974Full Service Brick and Mortar
33186142Potomac BranchU.S. 11 And Grade Road, Falling Waters, WV 25419June 17, 1987Full Service Brick and Mortar
34364757South Foxcroft Branch980 Foxcroft Avenue, Martinsburg, WV 25401July 01, 2001Full Service Brick and Mortar
35431479Edwin Miller Blvd Branch1286 Edwin Miller Blvd, Martinsburg, WV 25404April 15, 2004Full Service Brick and Mortar
36438895Sabraton Office BranchRoute 7 East, Tin Mill Crossroads, Morgantown, WV 26505December 06, 2004Full Service Brick and Mortar
37453413Star City Branch7 Chaplin Road, Morgantown, WV 26501October 01, 2005Full Service Brick and Mortar
41493280Suncrest Centre Branch651 Suncrest Towne Centre, Morgantown, WV 26505June 26, 2009Full Service Brick and Mortar
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