FIRST UNITED CORP/MD/ Goodwill & Intangibles Disclosure
10. Goodwill and Other Intangible Assets
The gross carrying amounts and accumulated amortization of intangible assets and goodwill are presented at December 31, 2025 and 2024 in the following table:
2025 | 2024 | |||||||||||||||||||
(in thousands) | Gross | Accumulated Amortization | Net | Weighted Average Remaining Life | Gross | Accumulated Amortization | Net | Weighted Average Remaining Life | ||||||||||||
Amortizing intangible assets: | ||||||||||||||||||||
Intangible assets associated with purchase of wealth portfolio | $ | 1,048 | $ | 838 | $ | 210 | 1.00 years | $ | 1,048 | $ | 629 | $ | 419 | 2.00 years | ||||||
Intangible assets associated with acquisition of mortgage company | 600 | 370 | 230 | 1.92 years | 600 | 250 | 350 | 2.92 years | ||||||||||||
Total Other intangibles | $ | 1,648 | $ | 1,208 | $ | 440 | 1.48 years | $ | 1,648 | $ | 879 | $ | 769 | 2.38 years | ||||||
Goodwill | $ | 11,004 | $ | 11,004 | $ | 11,004 | $ | 11,004 | ||||||||||||
The following table presents the estimated future amortization expense for amortizing intangible assets within the years ending December 31:
(in thousands) | | Amount | |
2026 | $ | 330 | |
2027 | 110 | ||
Total amortizing intangible assets | $ | 440 | |
Want the next FIRST UNITED CORP/MD/ goodwill & intangibles disclosure the moment it drops?
Set a Sentinel and we'll alert you the moment FIRST UNITED CORP/MD/'s next filing hits EDGAR. No credit card, your email never gets sold.
Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2025 | Mar 10, 2026 | Showing above |
| 2024 | Mar 20, 2025 | |
| 2023 | Mar 15, 2024 | |
| 2022 | Mar 24, 2023 | |
| 2021 | Mar 25, 2022 | |
| 2020 | Mar 25, 2021 | |
| 2019 | Mar 13, 2020 | |
| 2018 | Mar 12, 2019 | |
| 2017 | Mar 9, 2018 | |
| 2016 | Mar 8, 2017 | |
| 2015 | Mar 9, 2016 | |
About Goodwill & Intangibles Disclosures
Goodwill and intangible asset disclosures reveal the premium paid in acquisitions and how management assesses whether that premium retains its value. Since goodwill is no longer amortized under US GAAP, the annual impairment test is the only mechanism that adjusts carrying values downward — making the assumptions behind that test critically important for investors.
Key signals: a history of goodwill impairments suggests management consistently overpays for acquisitions. Watch the gap between reporting unit fair value and carrying amount — when fair value exceeds carrying amount by less than 10-20%, a small decline in business performance could trigger a write-down. For finite-lived intangibles, examine useful life assumptions across customer relationships, technology, and trade names; aggressive estimates inflate near-term earnings. Compare total intangibles-to-total-assets ratios against peers to assess acquisition dependency. Rising goodwill as a percentage of equity can signal balance sheet fragility.