 |
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| First United Corporation and Subsidiaries | |||||
| Consolidated Statement of Financial Condition | |||||
|
Years ended December 31,
|
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| (in thousands) |
2000
|
1999
|
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|
|
|||||
| Assets |
|
|
|||
| Cash and Due from Banks |
$ 15,521
|
$ 20,879
|
|||
| Investments: |
|
|
|||
| Available-for-sale securities at market value—(cost: $152,663 |
|
|
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| and $155,391 at December 31, 2000 and 1999, respectively) |
152,858
|
150,565
|
|||
| Federal funds sold |
11,400
|
615
|
|||
| Federal Home Loan Bank stock, at cost |
5,950
|
5,200
|
|||
| Interest-bearing deposits in banks |
20,534
|
20,750
|
|||
| Loans and leases |
614,647
|
569,182
|
|||
| Reserve for possible credit losses |
(5,094)
|
(4,409)
|
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|
|
|||||
| Net loans and leases |
609,553
|
564,773
|
|||
| Bank premises and equipment |
10,831
|
9,760
|
|||
| Accrued interest receivable and other assets |
20,942
|
20,738
|
|||
|
|
|||||
| Total Assets |
$847,589
|
$793,280
|
|||
|
|
|||||
| Liabilities and Shareholders' Equity |
|
|
|||
| Liabilities |
|
|
|||
| Non Interest-bearing deposits |
$ 51,339
|
$ 54,012
|
|||
| Interest-bearing deposits |
598,638
|
544,560
|
|||
|
|
|||||
| Total Deposits |
649,977
|
598,572
|
|||
| Federal Home Loan Bank borrowings and other borrowed funds |
122,000
|
127,000
|
|||
| Reserve for taxes, interest and other liabilities |
9,105
|
8,643
|
|||
| Dividends payable |
996
|
969
|
|||
|
|
|||||
| Total Liabilities |
782,078
|
735,184
|
|||
|
|
|||||
|
Shareholders' Equity |
|
|
|||
| Preferred stock—no par value |
|
|
|||
| Authorized and unissued 2,000 shares |
|
|
|||
| Capital stock—par value $.10 per share |
|
|
|||
| Authorized 25,000 shares, issued and outstanding |
|
|
|||
| 6,081 and 6,085 shares at |
|
|
|||
| December 31, 2000 and 1999, respectively |
61
|
61
|
|||
|
|
|
||||
| Surplus |
20,199
|
20,269
|
|||
| Retained earnings |
45,132
|
40,729
|
|||
| Accumulated other comprehensive income |
119
|
(2,963)
|
|||
|
|
|||||
| Total Shareholders' Equity |
65,511
|
58,096
|
|||
|
|
|||||
| Total Liabilities and Shareholders' Equity |
$847,589
|
$793,280
|
|||
|
|
|||||
|
This information
has been excerpted from the Audited Consolidated Financial Statements
of First United Corporation, which are included in the Corporation’s
Annual Report on Form 10-K filed with the Securities and Exchange
Commission. This information should be read in conjunction with
the Corporation’s Form 10-K for the year ended December 31, 2000.
A copy of the Form 10-K can be obtained by writing to: Robert
W. Kurtz, First United Corporation, P.O. Box 9, Oakland, MD 21550-0009.
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