June 09, 2010

Approval of proposal by City Holding Company

For immediate release

The Federal Reserve Board on Wednesday announced its approval of the application under section 3 of the Bank Holding Company Act ("BHC Act") by City Holding Company ("CityHolding"), Charleston, West Virginia, to increase its ownership interest from 4.9 percent to 7.5 percent of the voting shares of First United Corporation ("First United") and thereby increase its indirect interest in First United's subsidiary bank, First United Bank & Trust, both of Oakland, Maryland. The Board also determined that City Holding's election to become a financial holding company pursuant to sections 4(k) and (l) of the BHC Act and section 225.82 of the Board's Regulation Y is effective.

Attached is the Board's Order relating to this action.

Last Update: June 09, 2010