First United Corporation Announces Planned Retirement of Chairman of the Board, President & CEO Carissa L. Rodeheaver

First United Corporation (NASDAQ: FUNC) has announced the planned retirement of Carissa L. Rodeheaver, the Chairman of the Board, President, and Chief Executive Officer, effective at the conclusion of the annual shareholders' meeting on May 7, 2026. To ensure a smooth transition in leadership, Rodeheaver will serve as Executive Chairman starting January 1, 2026, until her retirement.

Rodeheaver has been a pivotal figure in the growth and transformation of First United since becoming CEO in 2016. Under her guidance, the company achieved record financial performance, saw a rise in stock prices, and provided consistent dividend payments. Her tenure has also been marked by a commitment to community banking and a focus on balancing growth with risk management, solidifying First United’s reputation as an industry leader.

Throughout her 33-year career, she championed initiatives that enhanced shareholder value, advanced digital transformations, and fostered community engagement through programs like the First United Community Dreams Foundation and the financial education platform ‘Finture.’ Her leadership helped the organization navigate shifting economic and regulatory landscapes while maintaining a customer-centric approach.

Following her retirement, Jason B. Rush, the current Senior Vice President and Chief Operating Officer, will take over as President and CEO effective January 1, 2026. Rush has been with the bank since 1993 and joined the executive team in 2017. The Board of Directors has expressed gratitude for Rodeheaver’s visionary leadership and commitment to long-term institutional growth.

Rodeheaver plans to transition to advisory roles post-retirement, allowing her to focus on personal interests and family. First United Corporation is also celebrating its 125th anniversary in 2025, with assets totaling $2 billion as of September 30, 2025.

The pending retirement of Carissa L. Rodeheaver from her roles as Chairman, President, and CEO of First United Corporation (NASDAQ: FUNC) is a significant turning point for the bank and its stakeholders. Following her successful tenure that began in 2016, where she has led the bank through transformative growth and bolstered shareholder value, her departure raises several considerations for investors.

As of January 1, 2026, Jason B. Rush, the current Senior Vice President & Chief Operating Officer, will step into the CEO role. His long tenure since 1993 and experience as COO position him well to ensure continuity during this transition. However, any leadership change can create short-term volatility as markets react to uncertainty, which may present an opportunity for investors to consider entry points.

Investors should pay close attention to how this leadership transition is managed and how Mr. Rush articulates his strategic vision moving forward. The bank's strong performance metrics, including record financial returns and consistent dividend payments under Rodeheaver, may serve as a foundation that supports investor confidence. The commitment to innovation and community banking established during her tenure is likely to continue, potentially appealing to socially-conscious investors.

Furthermore, with First United celebrating its 125th anniversary in 2025, the bank's established history and community engagement initiatives indicate resilience. This context may appeal to conservative investors looking for stability.

Overall, investors are advised to monitor the transition closely, assess market reactions, and gauge the strategic updates from the new management team. If First United can maintain its growth trajectory and operational excellence, there may be potential for continued appreciation in its stock price.