FIRST UNITED CORPORATION
Oakland, MD
Stock Symbol :  FUNC
(Dollars in thousands, except per share data)
			Three Months Ended											Twelve Months Ended
			unaudited											unaudited
			31-Dec		31-Dec		30-Sep		30-Jun		31-Mar			31-Dec	31-Dec
			2009		2008		2009		2009		2009			2009	2008
EARNINGS SUMMARY
Interest income			$      20,458		$      23,730		$    21,138		$      21,373		$     22,373			$  85,342	$          95,216
Interest expense			$        7,714		$      10,011		$      7,833		$        8,010		$       8,547			$  32,104	$          43,043
Net interest income			$      12,744		$      13,719		$    13,305		$      13,363		$     13,826			$  53,238	$          52,173
Provision for loan and lease losses			$        4,751		$        6,355		$      6,917		$        1,871		$       2,049			$  15,588	$          12,925
Noninterest income			$     (11,302)		$        1,081		$    (4,530)		$        2,565		$       2,590			$ (10,677)	$          13,769
Noninterest expense			$      11,757		$        9,592		$    11,500		$      12,550		$     10,986			$  46,793	$          40,573
Income tax (benefit)/expense			$       (5,800)		$          (904)		$    (4,056)		$           358		$       1,002			$   (8,496)	$            3,573
Net (loss)/income			$       (9,266)		$          (243)		$    (5,586)		$        1,149		$       2,379			$ (11,324)	$            8,871
Net (loss) attributable to/income available to common shareholder			$       (9,655)		$          (243)		$    (5,975)		$           756		$       2,120			$ (12,754)	$            8,871
Cash dividends paid			$        1,228		$        1,104		$      1,223		$        1,221		$       1,221			$    4,893	$            4,774
			Three Months Ended
			unaudited
			31-Dec		31-Dec		30-Sep		30-Jun		31-Mar
			2009		2008		2009		2009		2009
PER COMMON SHARE
Basic/ Diluted Net Income Per Common Share			$         (1.58)		$         (0.04)		$      (0.97)		$          0.12		$         0.35
Book value			$        11.49		$        11.89		$      12.35		$        11.62		$       10.95
Closing market value			$          6.00		$        13.48		$      10.57		$        11.25		$         8.38
Common shares
	outstanding at period end		6,143,641		6,112,940		6,132,448		6,121,549		6,122,410
PERFORMANCE RATIOS (Period End, annualized)
Return on average assets			-0.67%		0.55%		-0.16%		0.43%		0.58%
Return on average shareholders'
	equity		-11.02%		9.31%		-2.68%		7.07%		9.66%
Net interest margin			3.56%		3.68%		3.53%		3.76%		3.83%
Efficiency ratio			104.69%		59.85%		81.99%		70.43%		64.87%
PERIOD END BALANCES			31-Dec		31-Dec
			2009		2008
Assets			$ 1,743,736		$ 1,639,104
Earning assets			$ 1,439,941		$ 1,489,609
Gross loans			$ 1,121,884		$ 1,134,546
	Consumer Real Estate		$    406,537		$    418,350
	Commercial		$    604,410		$    575,962
	Consumer		$    110,937		$    140,234
Investment securities			$    273,784		$    354,595
Total deposits			$ 1,304,166		$ 1,222,889
	Noninterest bearing		$    106,976		$    107,749
	Interest bearing		$ 1,197,190		$ 1,115,140
Shareholders' equity			$    100,566		$      72,690
CAPITAL RATIOS			31-Dec		31-Dec
Period end capital to risk-			2009		2008
	weighted assets:
	Tier 1		9.60%		10.59%
	Total		11.20%		12.18%
ASSET QUALITY
Net charge-offs for the quarter			$        1,590		$        3,526
Nonperforming assets: (Period End)
	Nonaccrual loans		$      46,584		$      24,553
	Restructured loans		$      35,481		$           468
	Loans 90 days past due
	and accruing		$        1,770		$        3,476
	Foreclosed real estate		$        7,591		$        2,424
	Total nonperforming assets
	and past due loans		$      48,354		$      28,029
Allowance for credit losses
	to gross loans, at period end		1.79%		1.26%
Nonperforming and 90 day past-due loans
	to gross loans, at period end		4.31%		2.47%
Nonperforming loans and 90 day past-due
	loans to total assets, at period end		2.77%		1.71%