UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, DC 30549
SCHEDULE 13G
m
Under the Securities Exchange Act of 1934
(Amendment No. ________________)*
First United Corporation
(Name of Issuer)
Common Stock, Par Value $.01 per share
(Title of Class of Securities)
33741H107
(Cusip Number)
Check the following box if a fee is being paid with this statement.
(A fee is not required only if the filing person: (1) has a previous statement
on file reporting beneficial ownership of more than five percent of the class
of securities described in Item 1; and (2) has filed no amendment subsequent
thereto reporting beneficial ownership of five percent or less of such
class.) (See Rule 13d-7).
*The remainder of this cover page shall be filled out for a reporting
person's initial filing on this form with respect to the subject class of
securities, and for any subsequent amendment containing information which
would alter the disclosures provided in a prior cover page.
The information required in the remainder of this cover page shall not be
deemed to be "filed" for the purpose of Section 18 of the Securities Exchange
Act of 1934 ("Act") or otherwise subject to the liabilities of that section
of the Act but shall be subject to all other provisions of the Act (however,
see the Notes).
Page 1 of 5 pages
CUSIP No. 33741H107
1 NAME OF REPORTING PERSON
S.S. OR I.R.S. IDENTIFICATION NO. OF ABOVE PERSON
First United National Bank & Trust
52-0312890
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP
(a)
(b) X
3 SEC USE ONLY
4 CITIZENSHIP OR PLACE OF ORGANIZATION
National Bank
5 SOLE VOTING POWER
674,869
6 SHARED VOTING POWER
7 SOLE DISPOSITIVE POWER
8 SHARED DISPOSITIVE POWER
9 AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
674,869
10 CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES*
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9
10.74%
12 TYPE OF REPORTING PERSON*
BK
Page 2 of 5 pages
Schedule 13G
First United National Bank & Trust
Item 1(a) Name of Issuer:
First United Corporation
Item 1(b) Address of Issuer's Principal Executive Offices:
19 South Second Street
Oakland, Maryland 21550
Item 2(a) Name of Person Filing:
First United National Bank & Trust
Item 2(b) Address of Principal Business Office or if none, Residence:
19 South Second Street
Oakland, Maryland 21550
Item 2(c) Citizenship:
National Bank
Item 2(d) Title of Class of Securities:
Common Stock, par value $.01 per share
Item 2(e) CUSIP Number:
33741H107
Item 3 If this statement is filed pursuant to Rules 13d-1(b), or 13d-2(b),
check whether the person filing is a:
(a) [ ] Broker or Dealer registered under Section 15 of the Act
(b) [X ] Bank as defined in Section 3(a) (6) of the Act
(c) [ ] Insurance Company as defined in Section 3(a) (19) of the Act
(d) [ ] Investment Company registered under Section 8 of the
Investment Company Act
(e) [ ] Investment Adviser registered under Section 203 of the
Investment Advisers Act of 1940
(f) [ ] Employee Benefit Plan, Pension Fund which is subject to the
provisions of the Employee Retirement Income Security Act of 1974
or Endowment fund;
see 240.13d-a(b)(1)(ii)(F)
(g) [ ] Parent Holding Company, in accordance with
240.13d-1(b)(ii)(G) (Note: See Item 7)
(h) [ ] Group, in accordance with 240.13d-1(b)(1)(ii)(H)
Page 3 of 5 pages
Item 4 Ownership:
If the percent of the class owned, as of December 31 of the year covered by
the statement, or as of the last day of any month described in Rule
13d-a(b)(2), if applicable, exceeds five percent, provide the following
information as of that date and identify those shares which there is a right
to acquire:
(a) Amount Beneficially Owned:
674,869 Shares
(b) Percent of Class:
10.79%
(c) Number of shares as to which such person has:
(i) sole power to vote or to direct the vote
674,869 Shares
(ii) shared power to vote or to direct the vote
(iii) sole power to dispose or to direct the disposition of
634,107 Shares
(iv) shared power to dispose or to direct the disposition of
Item 5 Ownership of Five Percent or Less of a Class
Not Applicable
Item 6 Ownership of More than Five Percent on Behalf of Another Person
The shares of First United Corporation stock listed in Item 4 are owned by
the Trust Department of First United National Bank & Trust, as Trustee for
200 fiduciary accounts. First United National Bank & Trust is a wholly-owned
subsidiary of First United Corporation. Within these accounts, the Trust
Department of First United National Bank & Trust had, as of December 31,
1997, sole voting rights on 674,869 shares and no shared voting rights.
It had as of December 31, 1997, the sole right to dispose of 634,869 shares
and no shared right to dispose of any shares. First United National Bank &
Trust has no right to retain the dividends from such shares for its own
account, nor does it have the power to direct the receipt of such dividends
(except in certain cases to beneficiaries or grantors of the accounts).
First United National Bank & Trust has no right to retain the proceeds from
the sale of such securities for its own account, nor does it have the power
to direct the receipt of such proceeds (except in certain cases to
beneficiaries or grantors of the accounts). All of the holders are persons
unrelated to the officers or directors of First United Corporation.
Item 7 Identification and Classification of the Subsidiary Which Acquired the
Security Being Reported on by the Parent Holding Company.
Not Applicable
Page 4 of 5 pages
Item 8 Identification and Classification of Members of Group.
Not Applicable
Item 9 Notice of Dissolution of Group.
Not Applicable
Item 10 Certification.
Not Applicable
After reasonable inquiry and to the best of my knowledge and belief, I
certify that the information set forth in this statement is true, complete
and accurate.
February 20, 1998
Date
William B. Grant
Signature
WILLIAM B. GRANT CHAIRMAN OF THE BOARD & CEO
Name/Title
Page 5 of 5 pages
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