FIRST UNITED CORPORATION
Oakland, MD
Stock Symbol :  FUNC
(Dollars in thousands, except per share data)
			Three Months Ended									Nine Months Ended
			unaudited									unaudited
			30-Sep		30-Sep		30-Jun		31-Mar			30-Sep	30-Sep
			2009		2008		2009		2009			2009	2008
EARNINGS SUMMARY
Interest income			$      21,138		$      23,777		$      21,373		$     22,373			$ 64,884	$      71,486
Interest expense			$        7,833		$      10,576		$        8,010		$       8,547			$ 24,390	$      33,032
Net interest income			$      13,305		$      13,201		$      13,363		$     13,826			$ 40,494	$      38,454
Provision for loan and lease losses			$        6,917		$        4,217		$        1,871		$       2,049			$ 10,837	$        6,570
Noninterest income			$      (4,530)		$        3,778		$        2,565		$       2,590			$      625	$      12,688
Noninterest expense			$      11,500		$        9,976		$      12,550		$     10,986			$ 35,036	$      30,981
Income taxes			$      (4,056)		$           921		$           358		$       1,002			$ (2,696)	$        4,477
Net income			$      (5,586)		$        1,865		$        1,149		$       2,379			$ (2,058)	$        9,114
Net income available to common shareholder			$      (5,975)		$        1,865		$           756		$       2,120			$ (3,099)	$        9,114
Cash dividends paid			$        1,223		$        1,220		$        1,221		$       1,221			$   3,665	$        3,670
			Three Months Ended
			unaudited
			30-Sep		30-Sep		30-Jun		31-Mar
			2009		2008		2009		2009
PER COMMON SHARE
Basic/ Diluted Net Income Per Common Share			$        (0.97)		$          0.30		$          0.12		$         0.35
Book value			$        12.35		$        14.70		$        11.62		$       10.95
Closing market value			$        10.57		$        19.90		$        11.25		$         8.38
Common shares
	outstanding at period end		6,132,448		6,113,886		6,121,549		6,122,410
PERFORMANCE RATIOS (Period End, annualized)
Return on average assets			-0.16%		0.77%		0.43%		0.58%
Return on average shareholders'
	equity		-2.68%		12.31%		7.07%		9.66%
Net interest margin			3.53%		3.67%		3.76%		3.83%
Efficiency ratio			81.99%		58.99%		70.43%		64.87%
PERIOD END BALANCES			30-Sep		31-Dec		30-Sep
			2009		2008		2008
Assets			$ 1,681,749		$ 1,639,104		$ 1,629,546
Earning assets			$ 1,489,943		$ 1,489,609		$ 1,490,024
Gross loans			$ 1,138,366		$ 1,134,546		$ 1,101,492
	Consumer Real Estate		$    408,487		$    418,350		$    412,160
	Commercial		$    609,240		$    575,962		$    548,110
	Consumer		$    120,639		$    140,234		$    141,222
Investment securities			$    318,070		$    354,595		$    383,994
Total deposits			$ 1,237,134		$ 1,222,889		$ 1,143,102
	Noninterest bearing		$    107,608		$    107,749		$    104,896
	Interest bearing		$ 1,129,526		$ 1,115,140		$ 1,038,206
Shareholders' equity			$    105,758		$      72,690		$      89,872
CAPITAL RATIOS			30-Sep		31-Dec		30-Sep
Period end capital to risk-			2009		2008		2008
	weighted assets:
	Tier 1		9.23%		10.59%		11.22%
	Total		10.61%		12.18%		12.63%
ASSET QUALITY
Net charge-offs for the quarter			$        4,345		$        3,526		$        1,577
Nonperforming assets: (Period End)
	Nonaccrual loans		$      43,272		$      24,553		$      29,098
	Restructured loans		$      26,512		$           468		$                -
	Loans 90 days past due
	and accruing		$        2,596		$        3,476		$        2,754
	Foreclosed real estate		$        4,061		$        2,424		$           714
	Total nonperforming assets
	and past due loans		$      45,868		$      28,029		$      31,852
Allowance for credit losses
	to gross loans, at period end		1.49%		1.26%		1.05%
Nonperforming and 90 day past-due loans
	to total loans, at period end		4.03%		2.47%		2.89%
Nonperforming loans and 90 day past-due
	loans to total assets, at period end		2.73%		1.71%		1.95%