In the Q1, First United Corporation's corporate clients experienced a reduction by -6.37 % in their costs of revenue, compared to a year ago, sequentially costs of revenue were trimmed by -12.03 %. During the corresponding time, First United Corporation recorded a revenue increase by 11.15 % year on year, sequentially revenue grew by 0.14 %. While revenue at the First United Corporation's corporate clients fell by -7.76 % year on year, sequentially revenue fell by -12.26 %.
Customers of First United Corporation saw their costs of revenue decrease by -6.37 % in Q1 compare to a year ago, sequentially costs of revenue were trimmed by -12.03 %, for the same period First United Corporation recorded revenue increase by 11.15 % year on year, sequentially revenue grew by 0.14 %.
First United's Comment on Sales, Marketing and Customers
The Bank operates in Allegany, Frederick, Garrett, and Washington Counties in Maryland, as well as Mineral, Berkeley, and Monongalia Counties in West Virginia. It is an independent community bank providing retail and commercial banking services, including checking and savings accounts, money market deposit accounts, certificates of deposit, business and personal loans, mortgage loans, lines of credit, and consumer retirement accounts such as IRAs and employee benefit accounts. The Bank offers brokerage services through Cetera Investment Services, LLC, along with safe deposit and night depository facilities, insurance products, and trust services. Its commercial loans are primarily secured by real estate, commercial equipment, vehicles, or other borrower assets, with a focus on commercial real estate loans for residential and commercial development, agricultural properties, service industry buildings, retail buildings, and general-purpose business space. Additionally, the Bank originates fixed and variable rate residential mortgage loans, some of which are brokered for other financial institutions.
First United’s Comment on Sales, Marketing and Customers
The Bank operates in Allegany, Frederick, Garrett, and Washington Counties in Maryland, as well as Mineral, Berkeley, and Monongalia Counties in West Virginia. It is an independent community bank providing retail and commercial banking services, including checking and savings accounts, money market deposit accounts, certificates of deposit, business and personal loans, mortgage loans, lines of credit, and consumer retirement accounts such as IRAs and employee benefit accounts. The Bank offers brokerage services through Cetera Investment Services, LLC, along with safe deposit and night depository facilities, insurance products, and trust services. Its commercial loans are primarily secured by real estate, commercial equipment, vehicles, or other borrower assets, with a focus on commercial real estate loans for residential and commercial development, agricultural properties, service industry buildings, retail buildings, and general-purpose business space. Additionally, the Bank originates fixed and variable rate residential mortgage loans, some of which are brokered for other financial institutions.
Sources:
First United Corporation’s official press releases and regulatory filings; CSIMarket.com’s market research; and the financial filings and press releases of other companies cited in this report.
Updated on:
Focus of this report: First United Corporation’s corporate clients.
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