Business Context and Reporting Period
This Form 8-K Current Report was filed by First United Corporation (FUNC) on January 16, 2026, covering events effective January 1, 2026. The company operates as a bank holding company with its principal subsidiary, First United Bank & Trust. The filing primarily addresses significant changes in executive leadership.
Key Financial Metrics
The filing does not provide specific financial performance data such as revenue, profit, cash flow, margins, debt, or liquidity metrics. The only financial figure disclosed relates to executive compensation: the new President and CEO, Jason B. Rush, has an annual base salary set at $450,000.
Material Changes
- Executive Transition: Carissa L. Rodeheaver transitioned from Chairman, President, and CEO to Executive Chairman effective January 1, 2026.
- New CEO Appointment: Jason B. Rush was appointed President and CEO of the Corporation and the Bank effective January 1, 2026.
- Role Responsibilities: Ms. Rodeheaver will oversee regulatory examinations, year-end reporting (including the 2026 10-K and proxy), annual meeting planning, and investor relations, while advising the new CEO on succession.
Guidance, Outlook, and Risks
The filing contains no forward-looking guidance, financial outlook, or discussion of material risks and contingencies beyond the standard disclosure of the leadership transition. The text notes that no related-party transactions requiring disclosure under Item 404(a) of Regulation S-K have occurred since the beginning of the fiscal year ended December 31, 2024, and none are proposed for the remainder of the fiscal year ending December 31, 2026.
Investor Verification Checklist
- Verify the specific duties and reporting lines of the new CEO, Jason B. Rush, versus the Executive Chairman, Carissa L. Rodeheaver.
- Review the "Executive Compensation" section of the 2025 Proxy Statement (filed March 27, 2025) for details on Mr. Rush's bonus and equity compensation, as only base salary is listed in this 8-K.
- Confirm the timeline for the 2026 Annual Report on Form 10-K and the 2026 annual meeting of shareholders, which Ms. Rodeheaver will oversee.