Goodwill - First United Corp (NASDAQ:FUNC)

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Price: 37.61 USD 1.29%

Market Cap: $244.5m

First United Corp
Goodwill

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First United Corp
Goodwill Peer Comparison

	Goodwill	CAGR 3Y	CAGR 5Y	CAGR 10Y
First United Corp NASDAQ:FUNC	Goodwill $11.5m	CAGR 3-Years -1%	CAGR 5-Years 1%	CAGR 10-Years 0%
PNC Financial Services Group Inc NYSE:PNC	Goodwill $11B	CAGR 3-Years 0%	CAGR 5-Years 3%	CAGR 10-Years 2%
M&T Bank Corp NYSE:MTB	Goodwill $8.5B	CAGR 3-Years 0%	CAGR 5-Years 13%	CAGR 10-Years 6%
Truist Financial Corp NYSE:TFC	Goodwill $17.1B	CAGR 3-Years -14%	CAGR 5-Years -7%	CAGR 10-Years 7%
Citizens Financial Group Inc NYSE:CFG	Goodwill $8.2B	CAGR 3-Years 0%	CAGR 5-Years 3%	CAGR 10-Years 2%
Fifth Third Bancorp NASDAQ:FITB	Goodwill $4.9B	CAGR 3-Years 0%	CAGR 5-Years 3%	CAGR 10-Years 7%

First United Corp
Glance View

Market Cap

244.5m USD

Industry

Banking

First United Corp. is a bank holding company, which engages in community banking services. The company is headquartered in Oakland, Maryland and currently employs 273 full-time employees. The firm's primary business is serving as the parent company of First United Bank & Trust (the Bank), First United Statutory Trust I, and First United Statutory Trust II. The Bank offers a range of services, such as checking, savings, money market deposit accounts, and certificates of deposit, business loans, personal loans, mortgage loans, lines of credit, and consumer-oriented retirement accounts including individual retirement accounts (IRAs) and employee benefit accounts. In addition, the Bank provides full brokerage services through a networking arrangement with Cetera Investment Services, LLC., a full-service broker-dealer. The Bank also provides safe deposit and night depository facilities, insurance products and trust services. The Bank operates approximately 25 banking offices, one customer care center and 32 Automated Teller Machines (ATMs) in Allegany County, Frederick County, Garrett County, and others.

View FUNC Analysis

FUNC Intrinsic Value

Undervaluation 30%

Intrinsic Value

Price

What is Intrinsic Value?

Economic Moat is a concept popularized by Warren Buffett to describe a company's durable competitive advantage. It represents the 'moat' that protects a company from competitors and helps it sustain profitability over the long term. Our analysis of the past 10 years showed that companies with a wide economic moat significantly outperformed the market, delivering +645% returns compared to +189% for the S&P 500.

Our research into Economic Moat performance spans the past 10 years and focuses on companies with a wide economic moat. For this analysis, we calculated the average stock price returns of these companies, comparing them to the performance of the S&P 500 index over the same period.

The results were compelling: wide moat stocks achieved a remarkable +645% average return, compared to +188% for the broader market. This difference highlights the long-term benefits of investing in businesses that can maintain their market position and pricing power over time.

Note: This research does not account for survivorship bias. Past performance is not indicative of future results.

Determining whether a company has an economic moat requires both a deep dive into financial metrics and a qualitative assessment of its competitive position. Our analysts conduct a rigorous evaluation that focuses on identifying structural advantages that enable a company to sustain profitability and defend its market share over the long term.

The process begins with an analysis of a company’s historical financial performance. We assess how consistently the company has generated returns above its cost of capital and whether those returns have been stable or improving. However, financial performance alone doesn’t reveal the full picture. To understand the sources of these advantages, we evaluate five key drivers of economic moats:

Network Effect: We analyze whether the value of a company’s product or service grows as its user base expands. Platforms like payment systems or marketplaces benefit from this self-reinforcing.

Switching Costs: We assess whether customers face significant costs or disruptions when switching to a competitor’s product or service. High switching costs create customer stickiness and provide pricing power.

Intangible Assets: Strong brands, patents, and regulatory licenses can protect a company’s market position by creating barriers for competitors or enabling premium pricing. For example, a well-recognized consumer brand may command higher customer loyalty and margins.

Efficient scale: Occurs when a market is optimally served by one or a few players, making it unprofitable for new entrants to compete. This typically happens in industries with high fixed costs or geographic constraints, such as utilities or pipelines.

Cost Advantage: Companies with structural cost advantages can produce goods or services at a lower cost than their competitors, enabling them to offer competitive pricing or maintain higher margins. These advantages often arise from economies of scale, superior supply chain management, or proprietary technology. Firms like Walmart leverage their massive scale to negotiate better terms with suppliers, allowing them to undercut competitors on price.

By examining these factors in combination with a company’s financial performance and market positioning, we classify each company into one of three categories:

This rigorous evaluation ensures that our moat ratings are both comprehensive and reliable, giving investors the tools they need to make well-informed, long-term decisions.

The AI Assistant may sometimes provide inaccurate information.

Make your own investment decisions or consult a licensed financial advisor.

First United Corp
NASDAQ:FUNC

First United Corp
Goodwill

First United Corp
Goodwill Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

First United Corp
Glance View

See Also

What is First United Corp's Goodwill?

Goodwill
11.5m USD

What is First United Corp's Goodwill growth rate?

Goodwill CAGR 10Y
0%

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52 Week Range	25.9 41.61
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First United Corp NASDAQ:FUNC

First United Corp Goodwill

First United Corp Goodwill Peer Comparison

Competitors Analysis Latest Figures & CAGR of Competitors

First United Corp Glance View

See Also

What is First United Corp's Goodwill? Goodwill 11.5m USD

What is First United Corp's Goodwill growth rate? Goodwill CAGR 10Y 0%

Company

Help

Tools

Stocks

First United Corp
NASDAQ:FUNC

First United Corp
Goodwill

First United Corp
Goodwill Peer Comparison

Competitors Analysis
Latest Figures & CAGR of Competitors

First United Corp
Glance View

What is First United Corp's Goodwill?

Goodwill
11.5m USD

What is First United Corp's Goodwill growth rate?

Goodwill CAGR 10Y
0%