First United Corporation (FUNC) - Net Assets
Based on the latest financial reports, First United Corporation (FUNC) has net assets worth $212.37 Million USD as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets ($2.08 Billion) and total liabilities ($1.87 Billion). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check First United Corporation strategic capital allocation to assess the company's strategic physical and investment asset allocation.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $212.37 Million |
| % of Total Assets | 10.2% |
| Annual Growth Rate | 5.21% |
| 5-Year Change | 43.51% |
| 10-Year Change | 79.1% |
| Growth Volatility | 9.99 |
First United Corporation - Net Assets Trend (1991–2025)
This chart illustrates how First United Corporation's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see how much is First United Corporation worth.
Annual Net Assets for First United Corporation (1991–2025)
The table below shows the annual net assets of First United Corporation from 1991 to 2025. Also explore First United Corporation net asset momentum to track the company's year-over-year net asset growth rate.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $203.63 Million | +13.57% |
| 2024-12-31 | $179.29 Million | +10.76% |
| 2023-12-31 | $161.87 Million | +6.64% |
| 2022-12-31 | $151.79 Million | +6.97% |
| 2021-12-31 | $141.90 Million | +8.28% |
| 2020-12-31 | $131.05 Million | +4.06% |
| 2019-12-31 | $125.94 Million | +7.58% |
| 2018-12-31 | $117.07 Million | +8.00% |
| 2017-12-31 | $108.39 Million | -4.67% |
| 2016-12-31 | $113.70 Million | -5.86% |
| 2015-12-31 | $120.77 Million | +10.80% |
| 2014-12-31 | $109.00 Million | +7.56% |
| 2013-12-31 | $101.34 Million | +2.46% |
| 2012-12-31 | $98.91 Million | +2.33% |
| 2011-12-31 | $96.66 Million | +1.06% |
| 2010-12-31 | $95.64 Million | -4.90% |
| 2009-12-31 | $100.57 Million | +38.35% |
| 2008-12-31 | $72.69 Million | -30.55% |
| 2007-12-31 | $104.67 Million | +8.06% |
| 2006-12-31 | $96.86 Million | +5.23% |
| 2005-12-31 | $92.04 Million | +6.58% |
| 2004-12-31 | $86.36 Million | +2.57% |
| 2003-12-31 | $84.19 Million | +6.19% |
| 2002-12-31 | $79.28 Million | +11.55% |
| 2001-12-31 | $71.08 Million | +8.49% |
| 2000-12-31 | $65.51 Million | +12.76% |
| 1999-12-31 | $58.10 Million | -0.68% |
| 1998-12-31 | $58.50 Million | +3.17% |
| 1997-12-31 | $56.70 Million | -0.18% |
| 1996-12-31 | $56.80 Million | +2.34% |
| 1995-12-31 | $55.50 Million | +8.61% |
| 1994-12-31 | $51.10 Million | +5.58% |
| 1993-12-31 | $48.40 Million | +21.61% |
| 1992-12-31 | $39.80 Million | +9.94% |
| 1991-12-31 | $36.20 Million | -- |
Equity Component Analysis
This analysis shows how different components contribute to First United Corporation's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 1133.8% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | $207.28 Million | 101.79% |
| Common Stock | $65.00K | 0.03% |
| Other Comprehensive Income | $-25.27 Million | -12.41% |
| Other Components | $21.55 Million | 10.58% |
| Total Equity | $203.63 Million | 100.00% |
First United Corporation Competitors by Market Cap
The table below lists competitors of First United Corporation ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Kingstone Companies Inc
NASDAQ:KINS
|
$280.84 Million |
|
Shandong Swan Cotton
SHG:603029
|
$280.90 Million |
|
Trailblazer Acquisition Corp. Class A Ordinary Shares
NASDAQ:BLZR
|
$280.91 Million |
|
Know IT AB
ST:KNOW
|
$281.10 Million |
|
TechTarget, Inc. Common Stock
NASDAQ:TTGT
|
$280.69 Million |
|
Dividend Growth Split Corp
TO:DGS
|
$280.67 Million |
|
Anhui Huangshan Capsule Co Ltd
SHE:002817
|
$280.55 Million |
|
Planigrupo LATAM S.A.B. de C.V
MX:PLANI
|
$280.54 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in First United Corporation's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 179,295,000 to 203,634,000, a change of 24,339,000 (13.6%).
- Net income of 24,515,000 contributed positively to equity growth.
- Dividend payments of 5,967,000 reduced retained earnings.
- New share issuances of 315,000 increased equity.
- Other comprehensive income increased equity by 4,982,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $24.52 Million | +12.04% |
| Dividends Paid | $5.97 Million | -2.93% |
| Share Issuances | $315.00K | +0.15% |
| Other Comprehensive Income | $4.98 Million | +2.45% |
| Other Changes | $494.00K | +0.24% |
| Total Change | $- | 13.57% |
Book Value vs Market Value Analysis
This analysis compares First United Corporation's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 1.39x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 6.53x to 1.39x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 1991-12-31 | $6.66 | $43.50 | x |
| 1992-12-31 | $7.40 | $43.50 | x |
| 1993-12-31 | $7.45 | $43.50 | x |
| 1994-12-31 | $7.77 | $43.50 | x |
| 1995-12-31 | $8.46 | $43.50 | x |
| 1996-12-31 | $8.67 | $43.50 | x |
| 1997-12-31 | $8.86 | $43.50 | x |
| 1998-12-31 | $9.31 | $43.50 | x |
| 1999-12-31 | $9.35 | $43.50 | x |
| 2000-12-31 | $10.69 | $43.50 | x |
| 2001-12-31 | $11.62 | $43.50 | x |
| 2002-12-31 | $12.96 | $43.50 | x |
| 2003-12-31 | $13.76 | $43.50 | x |
| 2004-12-31 | $14.08 | $43.50 | x |
| 2005-12-31 | $14.96 | $43.50 | x |
| 2006-12-31 | $15.68 | $43.50 | x |
| 2007-12-31 | $16.89 | $43.50 | x |
| 2008-12-31 | $11.77 | $43.50 | x |
| 2009-12-31 | $16.30 | $43.50 | x |
| 2010-12-31 | $15.42 | $43.50 | x |
| 2011-12-31 | $15.53 | $43.50 | x |
| 2012-12-31 | $15.85 | $43.50 | x |
| 2013-12-31 | $16.20 | $43.50 | x |
| 2014-12-31 | $17.38 | $43.50 | x |
| 2015-12-31 | $19.33 | $43.50 | x |
| 2016-12-31 | $18.15 | $43.50 | x |
| 2017-12-31 | $15.64 | $43.50 | x |
| 2018-12-31 | $16.54 | $43.50 | x |
| 2019-12-31 | $17.74 | $43.50 | x |
| 2020-12-31 | $18.69 | $43.50 | x |
| 2021-12-31 | $21.13 | $43.50 | x |
| 2022-12-31 | $22.79 | $43.50 | x |
| 2023-12-31 | $24.16 | $43.50 | x |
| 2024-12-31 | $27.42 | $43.50 | x |
| 2025-12-31 | $31.31 | $43.50 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently First United Corporation utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 12.04%
- The company shows good efficiency in utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 20.57%
- • Asset Turnover: 0.06x
- • Equity Multiplier: 10.25x
- Recent ROE (12.04%) is above the historical average (9.56%), indicating improving capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 1991 | 13.26% | 13.19% | 0.10x | 9.64x | $1.18 Million |
| 1992 | 13.82% | 16.67% | 0.09x | 9.09x | $1.52 Million |
| 1993 | 12.40% | 16.67% | 0.09x | 8.75x | $1.16 Million |
| 1994 | 12.13% | 16.80% | 0.08x | 8.98x | $1.09 Million |
| 1995 | 10.09% | 13.46% | 0.09x | 8.78x | $50.00K |
| 1996 | 11.44% | 14.71% | 0.08x | 9.22x | $820.00K |
| 1997 | 11.64% | 13.36% | 0.09x | 10.04x | $930.00K |
| 1998 | 12.65% | 13.83% | 0.08x | 10.96x | $1.55 Million |
| 1999 | 13.77% | 12.86% | 0.08x | 13.65x | $2.19 Million |
| 2000 | 12.69% | 11.66% | 0.08x | 12.94x | $1.76 Million |
| 2001 | 12.90% | 12.64% | 0.09x | 11.51x | $2.06 Million |
| 2002 | 12.18% | 14.50% | 0.07x | 12.04x | $1.73 Million |
| 2003 | 12.77% | 15.45% | 0.06x | 13.16x | $2.33 Million |
| 2004 | 8.83% | 10.36% | 0.06x | 14.27x | $-1.01 Million |
| 2005 | 13.20% | 14.49% | 0.06x | 14.24x | $2.95 Million |
| 2006 | 12.99% | 13.34% | 0.07x | 13.93x | $2.89 Million |
| 2007 | 12.22% | 11.77% | 0.07x | 14.13x | $2.33 Million |
| 2008 | 12.20% | 7.94% | 0.07x | 22.55x | $1.60 Million |
| 2009 | -11.26% | -11.20% | 0.06x | 17.34x | $-21.38 Million |
| 2010 | -10.66% | -12.73% | 0.05x | 17.74x | $-19.76 Million |
| 2011 | 3.75% | 4.78% | 0.05x | 14.39x | $-6.04 Million |
| 2012 | 4.71% | 6.86% | 0.05x | 13.35x | $-5.23 Million |
| 2013 | 6.39% | 10.23% | 0.05x | 13.16x | $-3.66 Million |
| 2014 | 5.13% | 9.27% | 0.05x | 12.22x | $-5.30 Million |
| 2015 | 10.76% | 21.84% | 0.04x | 10.96x | $913.90K |
| 2016 | 6.40% | 12.03% | 0.05x | 11.59x | $-4.09 Million |
| 2017 | 4.86% | 8.60% | 0.05x | 12.37x | $-5.57 Million |
| 2018 | 9.11% | 15.79% | 0.05x | 11.83x | $-1.04 Million |
| 2019 | 10.42% | 17.57% | 0.05x | 11.46x | $535.00K |
| 2020 | 10.56% | 17.99% | 0.04x | 13.23x | $736.30K |
| 2021 | 13.93% | 25.15% | 0.05x | 12.19x | $5.58 Million |
| 2022 | 16.50% | 31.14% | 0.04x | 12.18x | $9.87 Million |
| 2023 | 9.30% | 15.75% | 0.05x | 11.77x | $-1.13 Million |
| 2024 | 11.47% | 18.40% | 0.06x | 11.00x | $2.64 Million |
| 2025 | 12.04% | 20.57% | 0.06x | 10.25x | $4.15 Million |
Industry Comparison
This section compares First United Corporation's net assets metrics with peer companies in the Banks - Regional industry.
Industry Context
- Industry: Banks - Regional
- Average net assets among peers: $574,041,500
- Average return on equity (ROE) among peers: 7.87%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| First United Corporation (FUNC) | $212.37 Million | 13.26% | 8.80x | $280.74 Million |
| Ameris Bancorp (ABCB) | $141.98 Million | 7.29% | 7.40x | $4.95 Billion |
| Ameris Bancorp (ABCB) | $804.48 Million | 9.14% | 8.77x | $5.62 Billion |
| ACNB Corporation (ACNB) | $61.12 Million | 12.64% | 7.91x | $656.47 Million |
| Affinity Bancshares Inc (AFBI) | $45.08 Million | 2.57% | 4.16x | $140.18 Million |
| Alerus Financial Corp (ALRS) | $182.82 Million | 9.36% | 8.54x | $822.80 Million |
| Amalgamated Bank (AMAL) | $439.37 Million | 10.16% | 9.66x | $1.27 Billion |
| Amerant Bancorp Inc. (AMTB) | $747.42 Million | 6.13% | 9.87x | $979.96 Million |
| Arrow Financial Corporation (AROW) | $334.39 Million | 12.21% | 10.03x | $708.35 Million |
| Associated Banc-Corp (ASB) | $2.88 Billion | 5.86% | 7.41x | $5.62 Billion |
| AmeriServ Financial Inc (ASRV) | $107.25 Million | 3.36% | 12.26x | $78.95 Million |
About First United Corporation
First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals in the United States. It operates through Community Banking and Wealth Management segments. The company offers deposit products, such as checking, savings, money market, individual retirement (IRA), employee benefit,… Read more