First United Corporation is a financial holding company, which serves as the parent company of First United Bank & Trust (the Bank), First United Insurance Group, LLC (the Insurance Group), First United Statutory Trust I (Trust I), First United Statutory Trust II (Trust II) and First United Statutory Trust III (Trust III). The Trusts were formed for the purpose of selling trust preferred securities. The wholly owned subsidiaries of the Bank are OakFirst Loan Center, Inc. and OakFirst Loan Center, LLC and First OREO Trust. At December 31, 2010, the Company had assets of approximately $1.70 billion, net loans of approximately approximately $988 million, and deposits of approximately $1.30 billion. Shareholders’ equity at December 31, 2010 was approximately $96 million.