The Bank Slate


First United in Md. to close four branches

First United in Oakland, Md., plans to close four branches in February.

The $1.9 billion-asset company disclosed in a regulatory filing that two branches are in Maryland – Frederick and Cumberland – and the others are in West Virginia – Bridgeport and Morgantown.

First United expects to incur $1.3 million of one-time charges tied to the closures, mostly covering leasing costs and accelerated depreciation of furniture and fixtures.

The move should save the company about $1 million a year.

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