secwatch.observer — SEC 8-K summary
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Issuer:     FIRST UNITED CORP/MD/ (FUNC)
CIK:        0000763907
Form:       8-K
Filed at:   2023-12-11T23:59:59+00:00
Accession:  0001104659-23-125002
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

First United Corp to close 4 branches in Feb 2024; expects $1.3M costs, $1.0M annual savings
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- Closures: Cannery (Frederick, MD), White Oaks (Cumberland, MD), Bridgeport (Bridgeport, WV), Cheat Landing (Morgantown, WV).
- Total closure costs estimated at ~$1.3M, mainly from accelerated depreciation and leasing.
- Annual cost savings projected at ~$1.0M from the branch closures.
- Closures scheduled for February 2024.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/763907/000110465923125002/0001104659-23-125002-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/763907/000110465923125002/tm2332643d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-125002

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer