Business
First United Urges Shareholders To Vote In Favor Of Its Highly-Qualified, Independent Directors
Reminds Shareholders of First United's Track Record of Strong Performance, Community Involvement and Commitment to Enhancing its Governance Best Practices
About this update from First
[{"type":"text","content":"Reminds Shareholders of First United's Track Record of Strong Performance, Community Involvement and Commitment to Enhancing its Governance Best Practices\n Both Leading Proxy Advisers, ISS and Glass Lewis, Recommend Shareholders Vote on First United's BLUE Card\n Vote on the BLUE Proxy Card Today for John W. McCullough; John F. Barr; Brian R. Boal; and Marisa A. Shockley\n\n\nOAKLAND, Md., June 9, 2020 /PRNewswire/ -- First United Corporation (NASDAQ: FUNC) (\"First United\" or the \"Company\"), a bank holding company and the parent company of First United Bank & Trust (the \"Bank\"), today issued the below statement reminding shareholders how important it is they vote in the upcoming annual meeting of shareholders scheduled for this Thursday, June 11, 2020. The Company urges shareholders to vote on the Company's BLUE proxy card for all of its director candidates: John W. McCullough; John F. Barr; Brian R. Boal; and Marisa A. Shockley.\nFirst United reminds shareholders of the following important points to consider before casting their votes:\nUnder the leadership of CEO, Carissa Rodeheaver, First United has delivered strong Total Shareholder Returns (\"TSR\") and has meaningfully enhanced and strengthened its business:\nFirst United has consistently delivered an outsized TSR that has substantially outperformed its peers over all relevant time periods during Carissa Rodeheaver's tenure as CEO. \"TSR\" measures a stock's performance, including stock price appreciation and dividends paid over a given time period:First United TSR vs. Peers Through the COVID-19 Environment(1)\n1-Year\n3-Year\n5-Year\nFirst United\n(18.9%)\n0.5%\n73.4%\nSNL Bank Index(2)\n(22.9%)\n(22.2%)\n22.0%\nProxy Peers(3)\n(28.5%)\n(21.1%)\n10.9%\nISS Peers(4)\n(30.2%)\n(19.2%)\n8.4%\n \nThe current leadership of First United, overseen by an engaged and high-quality Board of Directors, has also consistently improved the Bank's asset quality and capital position, reinstated and increased its dividend, decreased funding costs, enhanced the diversification of both the Bank's revenue streams and loan book, and reduced adversely classified assets while executing on efficiency and growth initiatives.Leading independent organizations endorse First United and its management team, including the following recognitions:\nFirst United earned a five-star rating from Bauer ...