FIRST UNITED CORPORATION
Oakland, MD
Stock Symbol :  FUNC
(Dollars in thousands, except per share data)
			Three Months Ended								Six Months Ended
			unaudited								unaudited
			30-Jun	30-Jun		31-Mar					30-Jun	30-Jun
			2007	2006		2007					2007	2006
EARNINGS SUMMARY
Interest income			$      22,841	$      19,539		$      21,418					$    44,259	$      38,516
Interest expense			$      11,947	$        9,225		$      11,353					$    23,300	$      18,065
Net interest income			$      10,894	$      10,314		$      10,065					$    20,959	$      20,451
Provision for loan and lease losses			$           367	$           157		$           163					$         530	$             80
Noninterest income			$        4,018	$        3,304		$        2,361					$      6,379	$        6,820
Noninterest expense			$        9,836	$        8,936		$        9,243					$    19,079	$      18,454
Income taxes			$        1,504	$        1,481		$           959					$      2,463	$        2,888
Net income			$        3,205	$        3,044		$        2,061					$      5,266	$        5,849
Cash dividends paid			$        1,198	$        1,164		$        1,199					$      2,397	$        2,327
			Three Months Ended
			unaudited
			30-Jun	30-Jun		31-Mar
			2007	2006		2007
PER COMMON SHARE
Earnings per share
	Basic/Diluted		$          0.52	$          0.50		$          0.34
Book value			$        15.90	$        15.34		$        16.06
Closing market value			$        19.85	$        20.65		$        22.50
Common Shares
	outstanding at period end		6,151,451	6,129,412		6,146,443
PERFORMANCE RATIOS (Period End, annualized)
Return on average assets			0.77%	0.90%		0.62%
Return on average shareholders'
	equity		10.72%	12.54%		8.43%
Net interest margin			3.46%	3.59%		3.39%
Efficiency ratio			67.53%	65.80%		72.07%
PERIOD END BALANCES			30-Jun	31-Dec		30-Jun
			2007	2006		2006
Assets			$ 1,432,452	$ 1,349,317		$ 1,306,010
Earning assets			$ 1,311,695	$ 1,232,481		$ 1,193,347
Gross loans			$ 1,010,745	$    963,656		$    954,558
	Consumer Real Estate		$    394,943	$    373,696		$    369,150
	Commercial		$    443,494	$    408,361		$    398,809
	Consumer		$    172,308	$    181,599		$    186,599
Investment securities			$    297,114	$    263,272		$    233,396
Total deposits			$ 1,064,462	$    971,381		$    945,302
	Noninterest bearing		$    110,662	$    106,579		$    111,712
	Interest bearing		$    953,800	$    864,802		$    833,590
Shareholders' equity			$      97,828	$      96,856		$      94,023
CAPITAL RATIOS			30-Jun	31-Dec		30-Jun
Period end capital to risk-			2007	2006		2006
	weighted assets:
	Tier 1		11.46%	11.81%		11.82%
	Total		12.53%	12.95%		12.97%
ASSET QUALITY
Net charge-offs for the quarter			$           261	$           333		$           233
Nonperforming assets: (Period End)
	Nonaccrual loans		$        2,200	$        3,190		$        2,143
	Restructured loans		$           519	$           522		$           528
	Loans 90 days past due
	and accruing		$        1,419	$           658		$        1,113
	Other real estate owned		$           100	$             23		$           113
	Total nonperforming assets
	and past due loans		$      12,205	$      14,788		$      15,078
Allowance for credit losses
	to gross loans, at period end		0.64%	0.68%		0.64%
Nonperforming and 90 day past-due loans
	to total loans, at period end		0.36%	0.40%		0.34%
Nonperforming loans and 90 day past-due
	loans to total assets, at period end		0.25%	0.29%		0.25%