First United (First United) Credit Losses Provision : $1.98 Mil (As of Dec. 2023)

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What is First United Credit Losses Provision?

First United's credit losses provision for the three months ended in Dec. 2023 was $0.42 Mil. Its credit losses provision for the trailing twelve months (TTM) ended in Dec. 2023 was $1.98 Mil.

First United's quarterly credit losses provision declined from Jun. 2023 ($0.40 Mil) to Sep. 2023 ($0.22 Mil) but then increased from Sep. 2023 ($0.22 Mil) to Dec. 2023 ($0.42 Mil).

First United's annual credit losses provision increased from Dec. 2021 ($-0.82 Mil) to Dec. 2022 ($-0.63 Mil) and increased from Dec. 2022 ($-0.63 Mil) to Dec. 2023 ($1.58 Mil).

First United Credit Losses Provision Historical Data

The historical data trend for First United's Credit Losses Provision can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

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First United Credit Losses Provision Chart

First United Annual Data

Trend

Dec14

Dec15

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Credit Losses Provision

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1.32

5.40

-0.82

-0.63

1.58

First United Quarterly Data
	Jun19	Sep19	Dec19	Mar20	Jun20	Sep20	Dec20	Mar21	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24
Credit Losses Provision	Get a 7-Day Free Trial															0.54	0.40	0.22	0.42	0.95

First United Credit Losses Provision Calculation

For each period of operations, banks may reserve a portion of their income to cover the possible non-performing loans. The amount of the Credit Losses Provision is dependent on the management's estimate of the load quality they have. The higher Credit Losses Provision is, the lower banks' reported income in. This does not affect banks' cash flow statement.

Credit Losses Provision for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $1.98 Mil.

First United (First United) Business Description

Industry

GURUFOCUS.COM » STOCK LIST » Financial Services » Banks » First United Corp (NAS:FUNC) » Definitions » Credit Losses Provision

Comparable Companies

Traded in Other Exchanges

FU3:Germany

Address

19 South Second Street, Oakland, MD, USA, 21550-0009

Website

https://www.mybank.com

First United Corp is active in the financial services domain. The scope of its offering includes checking, savings, money market deposit accounts and certificates of deposit, business loans, personal loans, mortgage loans and lines of credit extended to both individuals and businesses. In addition, it provides safe deposit and night depository facilities, insurance products and trust services. The bank also provides residential real estate construction loans to builders and individuals for single-family dwellings.

Executives

Marisa A. Shockley	director	19 S. SECOND STREET, OAKLAND MD 21550
Carissa Lynn Rodeheaver	officer: Chief Financial Officer	19 SOUTH SECOND STREET, OAKLAND MD 21550
Brian R. Boal	director	19 S. SECOND STREET, OAKLAND MD 21550
Jason Barry Rush	officer: VP and Director of Operations	19 SOUTH SECOND STREET, OAKLAND MD 21550
Kevin Hessler	director	19 S. SECOND STREET, OAKLAND MD 21550
John Mccullough	director	19 SOUTH SECOND STREET, OAKLAND MD 21550
Beth Moran	director	19 S. SECOND STREET, OAKLAND MD 21550
Irvin Robert Rudy	director	121 NORTH SECOND ST, OAKLAND MD 21550
John F. Barr	director	19 S. SECOND STREET, OAKLAND MD 21550
Christy Dipietro	director	19 S. SECOND STREET, OAKLAND MD 21550
Patricia Milon	director	19 S SECOND STREET, OAKLAND MD 21550
Gary Ruddell	director	19 SOUTH SECOND STREET, OAKLAND MD 21550
Sanu Chadha	director	19 S. SECOND STREET, OAKLAND MD 21550
M Kathryn Burkey	director	P.O. BOX 9, 19 SOUTH SECOND STREET, OAKLAND MD 21550
Elaine L Mcdonald	director	672 WHITE OAK DR, SWANTON MD 21561