On December 17, 2014, in connection with the planned retirement of William B. Grant on December 31, 2015 and as part of their succession planning efforts, the Boards of Directors of First United Corporation and its wholly-owned subsidiary, First United Bank & Trust (the Bank), appointed Carissa L. Rodeheaver as Chairman of the Board, President and Chief Executive Officer, effective January 1, 2016. Ms. Rodeheaver currently serves as a director and as the President and Chief Financial Officer of the company and the Bank, and Mr. Grant currently serves as the Chairman of the Board and Chief Executive Officer. Ms. Rodeheaver and Mr. Grant will continue to serve in their current positions through December 31, 2015.

During 2015, the Board intends to name a qualified individual to take over the Chief Financial Officer position following the implementation of this succession plan.