PR Newswire
OAKLAND, Md., June 9, 2020
OAKLAND, 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.
First United reminds shareholders of the following important points to consider before casting their votes:
Under the leadership of CEO, Carissa Rodeheaver, First United has delivered strong Total Shareholder Returns ("TSR") and has meaningfully enhanced and strengthened its business:
First United TSR vs. Peers Through the COVID-19 Environment(1)
1-Year | 3-Year | 5-Year | |
First United | (18.9%) | 0.5% | 73.4% |
SNL Bank Index(2) | (22.9%) | (22.2%) | 22.0% |
Proxy Peers(3) | (28.5%) | (21.1%) | 10.9% |
ISS Peers(4) | (30.2%) | (19.2%) | 8.4% |
Leading independent organizations endorse First United and its management team, including the following recognitions:
Both leading proxy advisory firms, Institutional Shareholder Services Inc. ("ISS") and Glass, Lewis & Co. ("Glass Lewis"), recommend that shareholders vote the Company's BLUE proxy card:
First United is committed to corporate governance best practices, and accordingly is in the midst of a comprehensive board refreshment program supported by its robust and transparent approach to shareholder engagement:
The Bank believes in being a supportive member of its community and has played a pivotal role in helping its communities navigate the COVID-19 pandemic:
VOTE FOR FIRST UNITED'S CANDIDATES - John W. McCullough; John F. Barr; Brian R. Boal; and Marisa A. Shockley - ON THE BLUE PROXY CARD TODAY
If you have already voted a WHITE proxy card, you may revoke that vote by voting the enclosed BLUE proxy card today.
If you have any questions or require any assistance with respect to voting your shares, please contact the Company's proxy solicitor, Morrow Sodali LLC:
509 Madison Avenue, Suite 1206
New York, NY 10022
Toll Free: (800) 662-5200
E-mail: [email protected]
Shareholder Contact
Morrow Sodali LLC
Mike Verrechia/Bill Dooley
(800) 662-5200
[email protected]
Media Contact
Prosek Partners
Brian Schaffer / Josh Clarkson / Kristen Duarte
(646) 818-9229 / (646) 818-9259 / (646) 818-9074
[email protected] / [email protected] / [email protected]
ABOUT FIRST UNITED CORPORATION
First United Corporation is the parent company of First United Bank & Trust, a Maryland trust company with commercial banking powers, and two statutory trusts that were used as financing vehicles. The Bank has four wholly-owned subsidiaries: OakFirst Loan Center, Inc., a West Virginia finance company; OakFirst Loan Center, LLC, a Maryland finance company; First OREO Trust, a Maryland statutory trust that holds and services real estate acquired by the Bank through foreclosure or by deed in lieu of foreclosure; and FUBT OREO I, LLC, a Maryland company that likewise holds and services real estate acquired by the Bank through foreclosure or by deed in lieu of foreclosure. The Bank also owns 99.9% of the limited partnership interests in Liberty Mews Limited Partnership; a Maryland limited partnership formed for the purpose of acquiring, developing and operating low-income housing units in Garrett County, Maryland. The Corporation's website is www.mybank.com.
FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements as defined by the Private Securities Litigation Reform Act of 1995. Forward-looking statements do not represent historical facts, but are statements about management's beliefs, plans and objectives about the future, as well as its assumptions and judgments concerning such beliefs, plans and objectives. These statements are evidenced by terms such as "anticipate," "estimate," "should," "expect," "believe," "intend," and similar expressions. Although these statements reflect management's good faith beliefs and projections, they are not guarantees of future performance and they may not prove true. These projections involve risk and uncertainties that could cause actual results to differ materially from those addressed in the forward-looking statements. For a discussion of these risks and uncertainties, see the section of the periodic reports that First United Corporation files with the Securities and Exchange Commission (the "SEC") entitled "Risk Factors".
IMPORTANT ADDITIONAL INFORMATION
First United, its directors and certain of its executive officers will be deemed to be participants in the solicitation of proxies from First United's shareholders in connection with the Annual Meeting. First United has filed a definitive proxy statement and a BLUE proxy card with the SEC in connection with any such solicitation of proxies from First United shareholders. SHAREHOLDERS OF FIRST UNITED ARE STRONGLY ENCOURAGED TO READ SUCH PROXY STATEMENT, ACCOMPANYING BLUE PROXY CARD AND ALL OTHER DOCUMENTS FILED WITH THE SEC CAREFULLY AND IN THEIR ENTIRETY AS THEY CONTAIN IMPORTANT INFORMATION. Information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, are set forth in the definitive proxy statement and other materials filed with the SEC in connection with the Annual Meeting. Shareholders can obtain the definitive proxy statement, any amendments or supplements to the proxy statement and other documents filed by First United with the SEC at no charge at the SEC's website www.sec.gov. Copies are also available at no charge at First United's website at http://investors.mybank.com/.
Source: FactSet, S&P Global Market Intelligence; includes price change and reinvested cash dividends
View original content:http://www.prnewswire.com/news-releases/first-united-urges-shareholders-to-vote-in-favor-of-its-highly-qualified-independent-directors-301072403.html
SOURCE First United Corporation
We use cookies to tailor your experience, measure site performance and present relevant offers and advertisements. By clicking ‘Accept’ or any content on this site, you agree that cookies can be placed on your browser. You can view our privacy policy to learn more.
If you would like to get more data, alerts and access to Real Vision videos, join us as an Insider Tracking Advantage Ultra member