First United Corporation's Leadership Transition
First United Corporation (NASDAQ: FUNC) has announced the planned retirement of Carissa L. Rodeheaver from her roles as Chairman of the Board, President, and Chief Executive Officer. This change will become effective after the 2026 annual meeting of shareholders. To ensure a smooth succession, she will transition to the role of Executive Chairman starting January 1, 2026, prior to her retirement.
Carissa Rodeheaver's Impact
Since assuming the role of CEO in 2016, Rodeheaver has spearheaded remarkable growth, innovation, and strategic expansion within the organization. Under her guidance, First United Corporation achieved impressive financial milestones, including increased stock valuations and consistent dividend distributions. Her leadership has solidified the company’s standing as a reputable industry leader while maintaining a careful balance between growth and risk management.
A Commitment to Community
Expressing her reflections on her career, Rodeheaver stated, "It has been the honor of my 33+ year career to serve First United and its stakeholders. I am deeply proud of what we've accomplished together through our commitment to community banking and am confident in the Company's future." This statement illustrates her dedication to fostering a culture that values community engagement alongside corporate success.
Future Directions Under New Leadership
With Carissa Rodeheaver's retirement on the horizon, the Board of Directors has enacted a succession plan. Effective January 1, 2026, Senior Vice President and Chief Operating Officer Jason B. Rush will take the helm as the new President and Chief Executive Officer of First United Corporation. Mr. Rush has been an integral part of the organization since joining in 1993, bringing extensive experience in various capacities within the bank.
Acknowledgment of Leadership
Brian R. Boal, Lead Independent Director, extended gratitude on behalf of the Board, stating, "On behalf of the Board, I want to express our deepest gratitude to Carissa Rodeheaver for her visionary leadership and unwavering commitment to excellence." This acknowledgment highlights the importance of leadership focused on long-term growth and developing future leaders within the company.
Continued Support Post-Retirement
Post-retirement, Rodeheaver will play a crucial role in an advisory capacity, contributing her knowledge to facilitate a smooth transition of leadership. Additionally, she looks forward to dedicating more time to her family and personal passions, including travel.
The Legacy of First United Corporation
First United Corporation operates a full-service commercial bank known as First United Bank & Trust. This year marks a significant milestone as the Bank celebrates its 125th anniversary. With a network of community offices in both Maryland and West Virginia, First United continues to be a vital part of the communities it serves. As of the end of September 2025, the Corporation displayed strong stability with assets totaling $2 billion.
Frequently Asked Questions
Who is the current CEO of First United Corporation?
Carissa L. Rodeheaver is currently the CEO, but she will retire after the 2026 annual meeting of shareholders.
Who will succeed Carissa Rodeheaver as CEO?
Jason B. Rush, the current Senior Vice President and Chief Operating Officer, will succeed her as CEO beginning January 1, 2026.
What has been Carissa Rodeheaver's impact on First United Corporation?
During her tenure, she has led transformative growth, improved financial performance, and enhanced the company’s reputation in the banking industry.
What is First United Corporation's asset total as of September 2025?
As of September 30, 2025, First United Corporation reported assets of $2 billion.
What initiatives did Carissa Rodeheaver support during her leadership?
She championed digital transformation and community engagement, establishing the First United Community Dreams Foundation and the Finture financial education platform.
