===============================================================================
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
------------------------------
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of report (Date of earliest event reported) May 20, 1999
FIRST UNITED CORPORATION
(Exact name of Registrant as specified in Charter)
Maryland 0-14237 52-1380770
(State or other Jurisdiction (Commission File Number) (IRS Employer
of incorporation) Identification No.)
19 South Second Street, Oakland, MD 21550
(Address of Principal Executive Offices/Zip Code)
Registrant's telephone number, including area code: (301) 334-9471
Not Applicable
(Former Name or Former Address, if Changed Since Last Report)
===============================================================================
<PAGE>
INFORMATION TO BE INCLUDED IN THE REPORT
Item 5. Other Events.
On May 18, 1999, First United Corporation acquired Gonder Insurance
Agency, a full line independent insurance agency with principal offices in
Oakland, Maryland. A copy of the press release is attached to this Current
Report on Form 8-K as Exhibit 99.1.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934,
the registrant has duly caused this report to be signed on its behalf by the
undersigned hereunto duly authorized.
FIRST UNITED CORPORATION
/s/ William B. Grant
Date: May 18, 1999 By: ---------------------------------
William B. Grant
Chairman of the Board and CEO
F7615.600
<PAGE>
EXHIBIT INDEX
Exhibit
Number Description of Exhibit
- -------------------------------
99.1 Press Release
<PAGE>
Exhibit 99.1
PRESS RELEASE
First United Corporation Acquires Gonder Insurance Agency
OAKLAND, MD -- First United Corporation, headquartered in Oakland,
Maryland, announced today that it has completed its acquisition of Gonder
Insurance Agency, an Oakland, Maryland based full line independent insurance
agency.
"The Gonder Agency has a long-standing tradition of providing quality
service to its customers," stated William B. Grant, Chairman and CEO of First
United. "We are excited about the opportunities that this affiliation presents
for First United's customers and shareholders. The Gonder Agency will allow us
to enhance the array of quality financial products and services we offer to our
customers and serve to increase First United's non-interest income base."
Mr. Terry R. Helbig, former owner of Gonder Insurance Agency, will
assume the role of President and Chief Operating Officer and will continue to be
responsible for its day-to-day operations. The Agency will continue to operate
under the Gonder name and will be a wholly owned subsidiary of First United Bank
& Trust. All employees of the Gonder Agency are expected to continue under the
First United ownership.
First United Corporation (NASDAQ:FUNC) offers full-service banking
through its banking subsidiary, First United Bank & Trust. The bank operates a
network of 22 offices and 25 ATM's through Garrett, Allegany, Washington, and
Frederick Counties in Maryland, and Mineral, Hardy, Hampshire, and Berkeley
Counties in West Virginia. As of April 30, 1999, the Corporation posted assets
of $667 million.
This press release contains forward-looking statements within the meaning of The
Private Securities Litigation Reform Act of 1995. Such statements are not
historical facts and include expressions about First United's confidence and
strategies, and expectations about the projected continued operations of Gonder
Insurance Agency. These statements may be identified by such forward-looking
terminology as "expect", "believe", "anticipate", or by expressions of
confidence such as "continuing" or "strong" or similar statements or variations
of such terms. Such forward- looking statements involve certain risks and
uncertainties. These include, but are not limited to, general economic
conditions and competition in the geographic and business areas in which First
United and its subsidiaries operate, inflation, fluctuations in interest rates,
legislation, and governmental regulation. Actual results may differ materially
from such forward-looking statements. First United assumes no obligation for
updating any such forward-looking statements at any time.
<PAGE>
