First United (FUNC) Revenue & Revenue Breakdown

Overview ForecastOwnership Financials Chart

First United Revenue Highlights

Latest Revenue (Y)

$95.74M

Latest Revenue (Q)

$28.19M

Main Segment (Y)

Trust Department

First United Revenue by Period

First United Revenue by Year

Date	Revenue	Change
2023-12-31	$95.74M	26.51%
2022-12-31	$75.68M	2.75%
2021-12-31	$73.66M	9.74%
2020-12-31	$67.12M	6.25%
2019-12-31	$63.17M	6.31%
2018-12-31	$59.42M	10.32%
2017-12-31	$53.86M	2.98%
2016-12-31	$52.30M	12.37%
2015-12-31	$46.54M	-6.34%
2014-12-31	$49.69M	-2.51%
2013-12-31	$50.97M	-5.60%
2012-12-31	$54.00M	-0.05%
2011-12-31	$54.02M	7.20%
2010-12-31	$50.40M	-27.23%
2009-12-31	$69.25M	5.02%
2008-12-31	$65.94M	11.15%
2007-12-31	$59.33M	7.91%
2006-12-31	$54.98M	1.00%
2005-12-31	$54.43M	9.66%
2004-12-31	$49.64M	7.98%
2003-12-31	$45.97M	12.40%
2002-12-31	$40.90M	4.42%
2001-12-31	$39.16M	7.99%
2000-12-31	$36.27M	3.91%
1999-12-31	$34.90M	10.44%
1998-12-31	$31.60M	3.95%
1997-12-31	$30.40M	9.35%
1996-12-31	$27.80M	3.35%
1995-12-31	$26.90M	5.08%
1994-12-31	$25.60M	4.07%
1993-12-31	$24.60M	-

First United generated $95.74M in revenue during NA 2023, up 26.51% compared to the previous quarter, and up 161.12% compared to the same period a year ago.

First United Revenue by Quarter

Date	Revenue	Change
2024-09-30	$28.19M	0.88%
2024-06-30	$27.94M	4.70%
2024-03-31	$26.69M	15.04%
2023-12-31	$23.20M	23.16%
2023-09-30	$18.84M	0.50%
2023-06-30	$18.74M	-0.89%
2023-03-31	$18.91M	-3.86%
2022-12-31	$19.67M	15267.97%
2022-09-30	$128.00K	-15.79%
2022-06-30	$152.00K	-99.14%
2022-03-31	$17.77M	-12.60%
2021-12-31	$20.34M	11.56%
2021-09-30	$18.23M	4.02%
2021-06-30	$17.53M	-0.23%
2021-03-31	$17.57M	1.80%
2020-12-31	$17.26M	0.39%
2020-09-30	$17.19M	1.86%
2020-06-30	$16.88M	5.89%
2020-03-31	$15.94M	-0.26%
2019-12-31	$15.98M	-4.14%
2019-09-30	$16.67M	7.76%
2019-06-30	$15.47M	2.65%
2019-03-31	$15.07M	-1.65%
2018-12-31	$15.32M	1.71%
2018-09-30	$15.06M	2.12%
2018-06-30	$14.75M	3.20%
2018-03-31	$14.29M	3.05%
2017-12-31	$13.87M	0.89%
2017-09-30	$13.75M	2.44%
2017-06-30	$13.42M	4.62%
2017-03-31	$12.83M	0.22%
2016-12-31	$12.80M	-3.72%
2016-09-30	$13.29M	0.74%
2016-06-30	$13.20M	1.38%
2016-03-31	$13.02M	34.02%
2015-12-31	$9.71M	-23.85%
2015-09-30	$12.75M	5.03%
2015-06-30	$12.14M	1.69%
2015-03-31	$11.94M	-4.07%
2014-12-31	$12.45M	2.43%
2014-09-30	$12.15M	-7.95%
2014-06-30	$13.20M	10.93%
2014-03-31	$11.90M	4.20%
2013-12-31	$11.42M	-20.72%
2013-09-30	$14.40M	17.35%
2013-06-30	$12.27M	-5.50%
2013-03-31	$12.99M	1.10%
2012-12-31	$12.85M	0.32%
2012-09-30	$12.81M	-2.09%
2012-06-30	$13.08M	-14.29%
2012-03-31	$15.26M	5.18%
2011-12-31	$14.51M	18.44%
2011-09-30	$12.25M	-12.08%
2011-06-30	$13.93M	4.50%
2011-03-31	$13.33M	35.50%
2010-12-31	$9.84M	-21.95%
2010-09-30	$12.61M	-11.41%
2010-06-30	$14.23M	4.75%
2010-03-31	$13.59M	-51.71%
2009-12-31	$28.14M	70.27%
2009-09-30	$16.52M	3.74%
2009-06-30	$15.93M	-7.21%
2009-03-31	$17.17M	15.99%
2008-12-31	$14.80M	-12.83%
2008-09-30	$16.98M	-4.58%
2008-06-30	$17.79M	8.71%
2008-03-31	$16.37M	-

First United generated $28.19M in revenue during Q3 2024, up 0.88% compared to the previous quarter, and up 150.38% compared to the same period a year ago.

First United Revenue Breakdown

First United Revenue Breakdown by Product

Annual Revenue by Product

Product/Service	Dec 23	Dec 22	Dec 21	Dec 20	Dec 19
Service Charges on Deposit Accounts	$2.20M	$1.98M	$1.77M	-	-
Trust Department	$8.28M	$8.24M	$8.65M	$7.45M	$7.15M
Debit Card Income	$4.10M	$3.96M	$3.64M	$2.90M	$2.71M
Brokerage Commissions	$1.16M	$1.05M	$1.08M	$1.00M	$919.00K
Other Service Charges	$929.00K	$925.00K	$909.00K	-	-
Service Charges	-	-	-	$1.93M	$2.19M

First United's latest annual revenue breakdown by segment (product or service), as of Dec 23: Trust Department (49.68%), Debit Card Income (24.60%), Service Charges on Deposit Accounts (13.19%), Brokerage Commissions (6.96%), and Other Service Charges (5.57%).

Quarterly Revenue by Product

Product/Service	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Mar 19	Sep 18	Jun 18	Mar 18
Service Charges on Deposit Accounts	$530.00K	$523.00K	$463.00K	$465.00K	$479.00K	-	-	-	-	-	-	-
Trust Department	$2.01M	$2.00M	$2.04M	$2.19M	$2.21M	$2.17M	$2.03M	$2.24M	$1.72M	$1.71M	$1.64M	$1.66M
Brokerage Commissions	$244.00K	$272.00K	$313.00K	$220.00K	$228.00K	$229.00K	$357.00K	$268.00K	$238.00K	$277.00K	$306.00K	$245.00K
Debit Card Income	$1.04M	$1.05M	$983.00K	$886.00K	$1.02M	$900.00K	$913.00K	$810.00K	$600.00K	$617.00K	$648.00K	$553.00K
Other Service Charges	$239.00K	$241.00K	$232.00K	$213.00K	$245.00K	$232.00K	$221.00K	$211.00K	$208.00K	-	-	-
Service Charges	-	-	-	-	-	$475.00K	$412.00K	$405.00K	$519.00K	$814.00K	$768.00K	$792.00K
Bank Owned Life Insurance	-	-	-	-	-	-	-	-	$303.00K	-	-	-
Miscellaneous Other Service	-	-	-	-	-	-	-	-	$124.00K	-	-	-

First United's latest quarterly revenue breakdown by segment (product or service), as of Dec 22: Trust Department (49.47%), Debit Card Income (25.55%), Service Charges on Deposit Accounts (13.07%), Brokerage Commissions (6.02%), and Other Service Charges (5.89%).

First United Revenue Breakdown by Country

Quarterly Revenue by Country

Country	Dec 22	Sep 22	Jun 22	Mar 22	Dec 21	Sep 21	Jun 21	Mar 21	Mar 19	Sep 18	Jun 18	Mar 18
Trust Department	$2.01M	$2.00M	$2.04M	$2.19M	$2.21M	$2.17M	$2.03M	$2.24M	$1.72M	$1.71M	$1.64M	$1.66M
Brokerage Commissions	$244.00K	$272.00K	$313.00K	$220.00K	$228.00K	$229.00K	$357.00K	$268.00K	$238.00K	$277.00K	$306.00K	$245.00K
Debit Card Income	$1.04M	$1.05M	$983.00K	$886.00K	$1.02M	$900.00K	$913.00K	$810.00K	$600.00K	$617.00K	$648.00K	$553.00K
Other Service Charges	$239.00K	$241.00K	$232.00K	$213.00K	$245.00K	$232.00K	$221.00K	$211.00K	$208.00K	-	-	-
Service Charges on Deposit Accounts	$530.00K	$523.00K	$463.00K	$465.00K	$479.00K	-	-	-	-	-	-	-
Service Charges	-	-	-	-	-	$475.00K	$412.00K	$405.00K	$519.00K	$814.00K	$768.00K	$792.00K
Bank Owned Life Insurance	-	-	-	-	-	-	-	-	$303.00K	-	-	-
Miscellaneous Other Service	-	-	-	-	-	-	-	-	$124.00K	-	-	-

First United's latest quarterly revenue breakdown by geography, as of Dec 22: Trust Department (49.47%), Debit Card Income (25.55%), Service Charges on Deposit Accounts (13.07%), Brokerage Commissions (6.02%), and Other Service Charges (5.89%).

First United Peer Comparison by Revenue

Ticker	Company	Last Year Revenue	Last Quarter Revenue
CHMG	Chemung Financial	$137.52M	$21.28M
OBT	Orange County Bancorp	$131.19M	$35.61M
BSVN	Bank7	$130.79M	$37.16M
PKBK	Parke Bancorp	$118.56M	$32.84M
GCBC	Greene County Bancorp	$117.57M	$31.51M
COFS	ChoiceOne Financial Services	$114.13M	$36.28M
FUNC	First United	$95.74M	$28.19M
FBIZ	First Business Financial Services	$89.23M	$50.94M
OPOF	Old Point Financial	$80.28M	$21.99M
CWBC	Community West Bancshares	$61.39M	$27.26M
AFBI	Affinity Bancshares	$45.17M	$12.87M
HFBL	Home Federal Bancorp, Inc. of Louisiana	$33.45M	$8.04M
FCCO	First Community	$10.42M	$26.72M

FUNC Revenue FAQ

What is First United’s yearly revenue?

First United's yearly revenue for 2023 was $95.74M, representing an increase of 26.51% compared to 2022. The company's yearly revenue for 2022 was $75.68M, representing an increase of 2.75% compared to 2021. FUNC's yearly revenue for 2021 was $73.66M, representing an increase of 9.74% compared to 2020.

What is First United’s quarterly revenue?

First United's quarterly revenue for Q3 2024 was $28.19M, a 0.88% increase from the previous quarter (Q2 2024), and a 49.63% increase year-over-year (Q3 2023). The company's quarterly revenue for Q2 2024 was $27.94M, a 4.70% increase from the previous quarter (Q1 2024), and a 49.07% increase year-over-year (Q2 2023). FUNC's quarterly revenue for Q1 2024 was $26.69M, a 15.04% increase from the previous quarter (Q4 2023), and a 41.12% increase year-over-year (Q1 2023).

What is First United’s revenue growth rate?

First United's revenue growth rate for the last 3 years (2021-2023) was 29.98%, and for the last 5 years (2019-2023) was 51.55%.

What are First United’s revenue streams?

First United's revenue streams in c 23 are Service Charges on Deposit Accounts, Trust Department, Debit Card Income, Brokerage Commissions, and Other Service Charges. Service Charges on Deposit Accounts generated $2.2M in revenue, accounting 13.19% of the company's total revenue, up 10.95% year-over-year. Trust Department generated $8.28M in revenue, accounting 49.68% of the company's total revenue, up 0.46% year-over-year. Debit Card Income generated $4.1M in revenue, accounting 24.60% of the company's total revenue, up 3.61% year-over-year. Brokerage Commissions generated $1.16M in revenue, accounting 6.96% of the company's total revenue, up 10.58% year-over-year. Other Service Charges generated $929K in revenue, accounting 5.57% of the company's total revenue, up 0.43% year-over-year.

What is First United’s main source of revenue?

For the fiscal year ending Dec 23, the largest source of revenue of First United was Trust Department. This segment made a revenue of $8.28M, representing 49.68% of the company's total revenue.