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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington , DC 20549 FORM 10 - K R ANNUAL REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31 , 2020 or TRANSITION REPORT PURSUANT TO SECTION 13 OR 15 ( d ) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 0-14237 First United Corporation ( Exact name of registrant as specified in its charter ) Maryland ( State or other jurisdiction of incorporation or organization ) 19 South Second Street , Oakland , Maryland ( Address of principal executive offices ) ( 800 ) 470-4356 ( Registrant's telephone number , including area code ) 52-1380770 ( I. R. S. Employer Identification No. ) 21550-0009 ( Zip Code ) Securities registered pursuant to Section 12 ( b ) of the Act : Title of each class Common Stock Securities registered pursuant to Section 12 ( g ) of the Act : None . Trading Symbols FUNC Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes £ No R Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or 15 ( d ) of the Act . Yes £ No R Name of each exchange on which registered Nasdaq Stock Market Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes R No £ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( $ 232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes R No £ Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or an emerging growth company . See the definitions of " accelerated filer " , " large accelerated filer " , " smaller reporting company " and " emerging growth company " in Rule 12b - 2 of the Exchange Act ) . : Large accelerated filer £ Non - accelerated filer R Emerging growth company £ Accelerated filer £ Smaller reporting company R If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . £ Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Act ) . Yes £ No R Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . £ The aggregate market value of the registrant's outstanding voting and non - voting common equity held by non - affiliates computed by reference to the price at which the common equity was last sold , or the average bid and asked price of such common equity , as of the last business day of the registrant's most recently completed second fiscal quarter : $ 85,527,660 . The number of shares of the registrant's common stock outstanding as of February 28 , 2021 : 6,995,867 . Documents Incorporated by Reference Portions of the registrant's definitive proxy statement for the 2021 Annual Meeting of Shareholders to be filed with the SEC pursuant to Regulation 14A are incorporated by reference into Part III of this Annual Report on Form 10 - K .