First United Bank is one of the nation's premier financial institutions. The bank provides a wide range of products and services to customers throughout Oklahoma and Texas. Recent news, First United Bank plans to use proceeds for purposes including possible acquisitions.
Late last year, First United acquired The Bank of Miami under an agreement with the Federal Deposit Insurance Corp. The acquisition added $405 million in assets, bringing First United's total to $1.3 billion. The company last month reported its fourth-quarter profit fell 61% amid lower acquisition-related gains.
First United Bancorp Inc.'s (FUBC) planned sale of at least 5 million shares priced at $6.50 a share, a 7.7% discount to Wednesday's closing price of $7.04. Shares dropped 5.7% to $6.64 in recent premarket trading. First United Bank has about 24.8 million shares outstanding.
First United Bank is one of the largest, well-capitalized banking organizations in the Southwest region of the United States with assets of more than $2 billion. First United Bank also is one of the largest privately held community banking organizations in the country serving approximately 75,000 customers. First United Bank offers 31 convenient bank locations in 20 communities and employs more than 600 employees.
Don't hesitate to visit First United Bank's website at www.firstunitedbank.com for more information about products and services.
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